Senmiao

Revenue is very small and volatile, and historical mix has changed due to discontinued and disposed operations. Continuing operations produced only 1.55 million dollars in FY 2026 with quarterly revenue around 0.36 million dollars and 17 percent gross margin in Q1 FY 2027. Strategy shifts (AI infrastructure exploration) further reduce visibility.

The business depends on Chinese local regulatory frameworks and ride-hailing activity, which can change. Overall cash generation is negative and unpredictable.