Why Senmiao Technology's Stock Is Trading Higher Today

Senmiao Technology AIHS shares are trading higher after the company reported revenue from its automobile transaction and related services business increased by 514% year over year.

"We continue to believe in the huge long-term market opportunity resulting from the rapid development of the online ride-hailing service industry in China. Our near-term strategic business focus has shifted from the facilitation of automobile transactions and financing to providing more rentals of automobiles, and we are also streamlining expenses while the business environment improves,” said CEO Xi Wen.

Senmiao Technology is a Fintech company in Sichuan Province, China. The company's operating segment include Online Lending Services and Automobile Transaction and Related Services. 

Senmiao Technology was trading 22.48% higher at $1.53 at time of publication on Thursday. The stock has a 52-week high of $2.35 and a 52-week low of $0.26.