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CHENGDU, China - Senmiao Technology Limited (NASDAQ:AIHS), currently trading at $0.31 with a market capitalization of $3.47 million, announced Thursday it plans to implement a 1-for-10 reverse stock split of its common stock effective Tuesday, July 29, 2025, with trading to begin on a split-adjusted basis at market open that day. According to InvestingPro data, the company’s stock has faced significant challenges, with a 71% decline year-to-date.
Following the reverse split, every 10 shares of the company’s issued and outstanding common stock will automatically convert into one share. The company stated that no fractional shares will be issued, with any fractional shares being rounded up to the next whole number.
Senmiao will continue trading on the Nasdaq Stock Market under the symbol "AIHS" with a new CUSIP number of 817225303.
The reverse split was approved by Senmiao’s Board of Directors and does not require stockholder approval under Nevada law. The company noted that the split will not alter any stockholder’s percentage interest in the company’s outstanding common stock, except for adjustments from the treatment of fractional shares.
In connection with the reverse split, Senmiao filed a Certificate of Change with the State of Nevada to reduce its authorized number of common stock shares from 500 million to 50 million, maintaining the same ratio as the split of outstanding shares.
Senmiao Technology, headquartered in Chengdu, provides automobile transaction and related services in China, including automobile sales, financing facilitation, management, operating leases, and other automobile transaction services.
This information is based on a company press release statement.
In other recent news, Senmiao Technology Limited has announced several strategic developments. The company has entered into a cooperation agreement with Changsha Yipeng Information Technology to develop an AI-backed data management system for online ride-hailing platforms. This system will utilize Senmiao’s historical data to enhance efficiency and safety in ride-hailing operations. Additionally, Senmiao has signed another strategic cooperation agreement with Qinhong International Group. This partnership will allow Senmiao to participate in Qinhong’s business operations across China. In exchange, Qinhong will assist Senmiao in securing funding by leveraging its relationships with financial institutions. These recent developments indicate Senmiao’s efforts to expand its technological capabilities and financial resources within the ride-hailing industry.
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