Senmiao Technology Ltd VAI
operating company but a U.S. holding company incorporated in the State of Nevada on June 8, 2017. As a holding company with no material
operations of its own, Senmiao conducts a substantial majority of its operations through its Operating Entities established in the PRC,
including its subsidiary and the equity investee company.
have been providing automobile transaction and related services focusing on the online ride-hailing industry in the People's Republic
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5M | $1.9M | $4.3M | $7.7M | $4.9M | $2.2M | $15.7M | $2.6M | $494.9K | — |
| Cost of revenue | $1.3M | $1.3M | $3.4M | $6.6M | $6.5M | $2.0M | $12.3M | $1.8M | $0 | — |
| Gross profit | $210.2K | $571.7K | $924.7K | $1.5M | -$2.1M | $204.8K | $3.4M | $738.9K | $494.9K | — |
| SG&A | $2.4M | $1.9M | $3.1M | $6.1M | $9.0M | $5.9M | $5.5M | $1.8M | $1.5M | — |
| Total operating expenses | $3.1M | $2.6M | $5.3M | $7.6M | $9.5M | $6.2M | $9.0M | $1.8M | $10.4M | — |
| Operating income | -$2.9M | -$2.0M | -$4.4M | -$6.1M | -$11.6M | -$6.0M | -$5.6M | -$1.0M | -$9.9M | — |
| Interest expense | — | — | $525 | — | $5.9K | $0 | $96.6K | $33.9K | $0 | — |
| Pre-tax income | -$5.3M | -$1.9M | -$3.8M | -$3.8M | -$5.6M | -$7.5M | -$4.3M | -$1.1M | -$9.9M | — |
| Income tax | — | — | $20.2K | — | $4.6K | $8.3K | $33.2K | $21.9K | $0 | — |
| Net income | -$5.3M | -$3.7M | -$3.7M | -$3.1M | -$536.6K | -$10.4M | -$8.7M | -$4.5M | -$9.9M | — |
| EPS, basic | -1.97 | -3.54 | -0.41 | -0.43 | -0.10 | — | — | — | — | — |
| EPS, diluted | -1.97 | -3.54 | -0.41 | -0.43 | -0.10 | — | — | -0.18 | -0.45 | — |
| Shares, diluted (wtd. avg.) | $2.7M | $1.1M | $8.9M | $7.2M | $5.7M | $3.9M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.6M | $833.6K | $794.6K | $1.6M | $1.2M | $4.3M | $833.9K | $5.0M | $11.1M | $161.3K |
| Receivables | — | $9.0K | $19.9K | $158.4K | $418.0K | $502.0K | $660.6K | $199.9K | $0 | — |
| Inventory | — | — | — | $6.7K | $286.5K | $127.9K | $1.0M | $1.5M | $0 | — |
| Total current assets | $4.1M | $2.2M | $2.7M | $4.9M | $5.6M | $10.9M | $6.6M | $11.4M | $11.2M | — |
| Property, plant and equipment | $812.9K | $1.6M | $2.7M | $3.3M | $5.7M | $3.7M | $480.4K | $125.9K | $8.9K | — |
| Goodwill | — | — | — | — | $0 | $135.4K | $0 | $0 | $0 | — |
| Other intangibles | $300.0K | $375.0K | $450.0K | $774.3K | $959.6K | $968.1K | $777.6K | $296.1K | — | — |
| Total assets | $5.3M | $5.8M | $9.9M | $14.2M | $19.9M | $22.3M | $15.6M | $12.3M | $14.4M | — |
| Accounts payable | $103.6K | $124.5K | $96.4K | $183.6K | $14.4K | $44.8K | $4.1K | $0 | — | — |
| Total current liabilities | $7.8M | $5.2M | $5.3M | $5.2M | $6.2M | $16.8M | $11.1M | $3.8M | $1.5M | — |
| Total liabilities | $7.8M | $5.2M | $5.6M | $5.7M | $6.5M | $19.7M | $14.2M | $3.9M | $1.5M | — |
| Retained earnings | -$50.4M | -$45.1M | -$41.4M | -$37.7M | -$34.6M | -$34.1M | -$23.7M | -$15.0M | -$10.5M | — |
| Total equity | -$5.8M | -$2.9M | $4.1M | $8.2M | $12.6M | $2.6M | $1.5M | $8.4M | $12.9M | $9.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.6M | $500.3K | $7.2K | $557.8K | -$9.2M | -$3.9M | -$6.4M | -$6.3M | -$775.3K | — |
| Depreciation and amortisation | $881.1K | $911.1K | $927.1K | $1.1M | $956.4K | $85.5K | $103.0K | $12.2K | $3.6K | — |
| Stock-based compensation | $250.0K | — | $444.3K | — | — | — | $133.2K | — | — | — |
| Capital expenditure | — | $415 | $671.7K | $1.2M | $3.2M | $2.3M | $495.2K | $1.4K | $3.0K | — |
| Investing cash flow | -$193.9K | -$464.8K | -$569.6K | $320.5K | -$3.5M | -$2.5M | -$963.4K | -$532.6K | -$3.0K | — |
| Financing cash flow | $4.4M | -$123.7K | -$168.3K | -$373.8K | $9.8M | $10.3M | $3.4M | $701.2K | $11.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-073684.
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