Senmiao Technology Ltd. (AIHS), a company engaged in the automobile transaction and related services business, has soared 12.05% in aftermarket trading session. As a result, AIHS stock is trading at $0.465 at the time of the writing. The surge has come after the Chinese regulatory authorities approved a new approval framework for overseas listing of companies. On Thursday, AIHS closed the day at $0.415 after declining 0.72% during the regular trading session. For the time being, let’s dive deeper into some of the recent developments related to AIHS stock.
AIHS Q2 2022 Operational Results
In Mid November, AIHS released the operational results for the second quarter of the fiscal year 2022. The quarter ended on 30th September 2021. The company generated total revenue of $2.85 million during the quarter against $1.39 million for the same quarter of fiscal 2021. The total operating expenses bore by the company during the quarter were $3.04 million against $2.78 million for the same period of the previous fiscal. The net loss suffered by the company during the three months was $0.12 million against $2.59 million for the same period of 2020.
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1HFY2022 Operational Results
Alongside the operational results, AIHS also released the operational results for the first half of the fiscal year 2022. The half ended on 30th September 2021. The company generated total revenue of $4.7 million for the six months against $2.5 million for the same period of the previous fiscal. The total operating expenses bore by the company during the six months were $6.9 million against $4.8 million for the same period of fiscal 2021. The net loss suffered by the company during the six months was $7.4 million against $4.9 million for the same period of fiscal 2021.
While commenting on the results, Xi Wen, Chairman, Chief Executive Officer and President of AIHS said that the company is pleased with the results it has achieved so far during fiscal 2022. The increase in revenue during the quarter was driven by increased operating lease revenues from automobile rentals and significantly greater revenue contributions from online ride-hailing platform services. The company is optimistic that the online ride-hailing platform services business will begin to make more significant contributions in the periods to come.
Future Outlook for AIHS
The last three months have seen AIHS stock decline by more than 30%. The decline could be attributed to the harsh regulatory policies by the Chinese regulators which have caused the stock to take a sharp slide. Analysts believe that the continuation of such policies would prove noxious for stocks like AIHS in the future to come.