Senmiao completes sale of Hunan Xixingtianxia; pro forma FY revenue drops 35%

Senmiao Technology Ltd

On Aug 20, 2024, subsidiary sold 100% equity in Hunan Xixingtianxia Technology to Jiangsu Yuelaiyuexing Technology.
Pro forma FY2024 revenue falls to $4.39M from $6.81M after removing XXTX's $2.49M revenue.
Pro forma net loss attributable to stockholders improves to $3.22M (FY2024) and $645,809 (Q1 FY2025).
Transaction eliminates $177K in borrowings from financial institution from the balance sheet.
Pro forma total assets reduced from $9.86M to $9.30M as of March 31, 2024.

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