Senmiao Tech reports FY2021 revenue of $6.2M, down 60% YoY; net loss $12.6M

Senmiao Technology Ltd

Total revenues $6.2M vs $15.7M prior year; decline due to COVID-19 impact on ride-hailing industry.
Net loss from continuing ops $12.6M vs $4.3M prior year; loss per share $0.26.
Launched own ride-hailing platform Oct 2020; 4.4M rides completed through March 31, 2021.
Operating lease revenues up 163% to $3.4M as company shifted focus to rentals.
Raised $6.5M gross proceeds from registered direct offering of 5.5M shares at $1.175/share.

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