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
Last close
2.16
2026-10-23
Market cap
$31.4M
2026-06-30 share count
52-week range
1.56 - 2.91
Valuation FY2025 figures against the last close
P/S20.3x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.97
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.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $494.9K | $2.6M | $15.7M | $2.2M | $4.9M | $7.7M | $4.3M | $1.9M | $1.5M |
| Gross profit | — | $494.9K | $738.9K | $3.4M | $204.8K | -$2.1M | $1.5M | $924.7K | $571.7K | $210.2K |
| Net income | — | -$9.9M | -$4.5M | -$8.7M | -$10.4M | -$536.6K | -$3.1M | -$3.7M | -$3.7M | -$5.3M |
Recent filings and events
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Accounts can no longer be relied on The company is telling investors that figures it has already published are wrong. Rare, and about as direct as a filing gets. Item 4.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed Item 1.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Officer or director change Item 5.02
- Delisting notice Item 3.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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