Senmiao Technology Cooperates with Ctrip Subsidiary in Sichuan Province

CHENGDU, China, March 13, 2019 /PRNewswire/ — Senmiao Technology Limited (“Senmiao” or the “Company”) (NASDAQ: AIHS), an operator of an …

CHENGDU, China, March 13, 2019 /PRNewswire/ — Senmiao Technology Limited (“Senmiao” or the “Company”) (NASDAQ: AIHS), an operator of an online lending marketplace connecting Chinese investors with individual and small-to-medium-sized enterprise borrowers, and a provider of automobile transaction and financing services in China, today announced that Sichuan Jinkailong Automobile Leasing Co., Ltd. (“Jinkailong”), a variable interest entity of Senmiao’s majority owned subsidiary Hunan Ruixi Financial Leasing Co., Ltd. (“Ruixi”), has signed a cooperation agreement with Shanghai Jitu Information Technology Co., Ltd. (“Jitu”), a cooperator of Ctrip.com International, Limited (NASDAQ: CTRP). The agreement allows Jinkailong to provide auto transaction and financing services for drivers who participate in Jitu’s intercity ride-hailing platform in Sichuan Province. Jinkailong expects to provide transaction and financing services for up to 100 drivers in 2019, as a backdrop to Jitu expanding its intercity ride-hailing program in Sichuan Province.

Xi Wen, Chairman, Chief Executive Officer and President of Senmiao, commented, “through partnerships with leading ride-hailing and ride-sharing platforms such as Didi and Jitu, Jinkailong offers a path for participating in the booming Chinese ride-hailing and ride-sharing market. We look forward to this partnership with Jitu growing and bearing fruit in 2019 and beyond.”

About Senmiao

Headquartered in Chengdu, Sichuan Province, Senmiao operates an online lending platform, www.ihongsen.com, which connects Chinese investors with individual and small-to-medium-sized enterprise borrowers. Senmiao also owns a majority interest in a Chinese automobile financial leasing company offering facilitation, purchase services, management, guarantee and other automobile transaction services. For more information about the Company, please visit: http://ir.ihongsen.com/index.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Chinese online P2P industry, the development of the Company’s automobile transaction and financing services and the Chinese vehicle financial leasing market, and the Company’s plans, objectives, goals, strategies, and performance, as well as the assumptions such statements and other statements that are not statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations, including, but not limited to, risks and uncertainties relating to the following: the risk that the anticipated growth of the Company’s automobile transaction and financing services may not be realized; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; the impact of government regulations; fluctuations in general economic and business conditions in China and other risks expressed in reports filed by the Company with the U.S. Securities and Exchange Commission.For these reasons, among others, investors are cautioned not to place undue reliance on any forward-looking statements. The Company’s filings with the U.S. Securities and Exchange Commission are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise any forwardlooking statements to reflect changes in events or circumstances.

For more information, please contact:

At the Company:

Julie Zhu

Email: julie@ihongsen.com

Phone: +86-181-9085-0098

Investor Relations:

Tony Tian, CFA

Weitian Group LLC

Email: ttian@weitianco.com

Phone: +1-732-910-9692

SOURCE Senmiao Technology Limited

Related Links

http://ir.ihongsen.com/index

Related Posts:

  • No Related Posts

Alibabacoin Foundation Agrees to Change Name After Chinese E-Commerce—Alibaba Won …

Alibaba sued Alibabacoin for copyright infringement right after the Alibabacoin raised $3.5 million from its initial coin offering(ICO). This lawsuit was …

It was previously reported that Chinese e-commerce giant took ABBC foundation, a Dubai-based crypto firm to the court regarding the use of its name “Alibaba”. A recent report has however made it known that the crypto firm has agreed to stop using the name for its project.

Alibaba and Alibabacoin Agreement

The agreement reached between the two is said to be one of the criteria of court arrangement made between the two entities Alibabacoin Foundation, also known as ABBC foundation has also released a statement registering its regrets as regards the confusion resulting from its use of the name Alibabacoin Foundation, for its project.

The firm also made it clear that it will now be known as ABBC coin instead of Alibaba foundation.

This change in name is as a result of a lawsuit which was filed by the Chinese E-commerce giant in April of 2018. Alibaba sued Alibabacoin for copyright infringement right after the Alibabacoin raised $3.5 million from its initial coin offering(ICO).

This lawsuit was however ruled against by a United States court the following month. It was reported that ABBC made it clear in its defence that it was not trying to piggyback off the Alibaba name, and that China’s September 2017 ban on initial coin offerings eliminated the main source of potential confusion.

This didn’t stop the giant from keeping moving on with its plan to have the crypto firm close down shop. This steadfastness and continuation eventually paid off, and has a result of this, the Chinese giant won a preliminary injunction against Alibabacoin Foundation in a lawsuit over the misleading use of Alibaba in their name in the U.S. District Court for the Southern District of New York.

Alibaba and DLT

Also, in a recent interview, Liu Song, Alibaba’s vice president made it known that the e-commerce giant is looking to implement blockchain tech for its cross-border supply chains.

Related Posts:

  • No Related Posts

Acadian Asset Management LLC Has $916000 Stake in Weibo Corp (WB)

Acadian Asset Management LLC cut its position in Weibo Corp (NASDAQ:WB) by 98.7% during the fourth quarter, according to the company in its …

Weibo logoAcadian Asset Management LLC cut its position in Weibo Corp (NASDAQ:WB) by 98.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,671 shares of the information services provider’s stock after selling 1,233,459 shares during the period. Acadian Asset Management LLC’s holdings in Weibo were worth $916,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WB. WealthTrust Arizona LLC boosted its holdings in Weibo by 56.8% during the fourth quarter. WealthTrust Arizona LLC now owns 472 shares of the information services provider’s stock worth $28,000 after purchasing an additional 171 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Weibo in the fourth quarter valued at $44,000. Quantamental Technologies LLC acquired a new stake in Weibo in the fourth quarter valued at $58,000. Exane Derivatives acquired a new stake in Weibo in the fourth quarter valued at $64,000. Finally, Lavaca Capital LLC acquired a new stake in Weibo in the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 23.96% of the company’s stock.

Shares of WB stock opened at $64.60 on Tuesday. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.29 and a beta of 2.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.99 and a quick ratio of 3.99. Weibo Corp has a 12 month low of $51.15 and a 12 month high of $138.72.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Tuesday, March 5th. The information services provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.05. Weibo had a net margin of 33.23% and a return on equity of 38.71%. The business had revenue of $481.88 million during the quarter, compared to analyst estimates of $481.52 million. During the same quarter in the previous year, the business posted $0.64 EPS. Weibo’s quarterly revenue was up 27.7% on a year-over-year basis. Analysts forecast that Weibo Corp will post 2.78 EPS for the current year.

WB has been the topic of several recent analyst reports. BidaskClub raised shares of Weibo from a “sell” rating to a “hold” rating in a report on Thursday, December 13th. ValuEngine raised shares of Weibo from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. Barclays set a $80.00 target price on shares of Weibo and gave the company a “buy” rating in a report on Thursday, November 29th. UBS Group lowered shares of Weibo from a “buy” rating to a “neutral” rating in a report on Wednesday, January 23rd. Finally, Morgan Stanley lowered shares of Weibo from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Weibo currently has a consensus rating of “Hold” and an average price target of $82.11.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/03/12/acadian-asset-management-llc-sells-1233459-shares-of-weibo-corp-wb.html.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

Featured Story: Calculating net profit and net profit margin ratio

Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

Receive News & Ratings for Weibo Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Weibo and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts:

  • No Related Posts

Meituan Dianping sees losses widen despite strong revenue growth

… such as Alibaba Group Holding Ltd.’s delivery platform Ele.me and also ride-hailing firm Didi Chuxing, backed by Japan’s SoftBank Group Corp.

Meituan Dianping (03690.HK), an online food delivery-to-ticketing firm, said its fourth-quarter operating loss more than doubled as fast revenue growth was offset by sharply rising labor costs, Reuters reports.

The company, which is backed by tech giant Tencent Holdings Ltd. (00700.HK) and listed on the stock market last September, said its revenue grew 89 percent in October-December to 19.8 billion yuan (US$2.9 billion).

Food orders made up the majority of sales in the quarter as they did in the third quarter, and the company reported a growing user base and increasing gross merchandise volume for its delivery service. However, these gains were offset by having to pay higher labor costs as order volumes jumped and the company had to hire more staff.

As a result, Meituan reported a net loss of 3.4 billion yuan for the quarter ended Dec. 31, increasing from a 2.2 billion yuan loss in the year-earlier period.

The company, which raised US$4.2 billion in its initial public offering, faces stiff competition from rivals such as Alibaba Group Holding Ltd.’s delivery platform Ele.me and also ride-hailing firm Didi Chuxing, backed by Japan’s SoftBank Group Corp.

Meituan said its overall transaction volume grew 32.5 percent in the fourth quarter from a year earlier.

Meituan is a so-called super app, offering many services and is a sort of cross between US discounting platform Groupon Inc. and online review firm Yelp Inc.

Revenues from “New Initiatives and others”, including Meituan’s bike-sharing division Mobike and its new ride-hailing service, made up 21.2 percent of total sales.

Meituan’s September IPO was seen by some as a gauge of China’s tech sector, which seemed poised for a slowdown after years of rising stock prices and free-flowing venture capital funding. But its stock has since lost nearly a fifth of its value.

Tencent, which is due to report fourth-quarter results later this month, has seen slowing revenue growth over the last four quarters while companies such as JD.com and Didi Chuxing have announced layoffs in recent months.

– Contact us at [email protected]

CG

Related Posts:

  • No Related Posts

Harding Loevner LP Cut Its Jd Com (JD) Holding as Market Value Rose; Intel (INTC) Share Price …

… Analog Neural Network for Always-On Battery-Powered Devices, Closes A Round Funding Led by Intel Capital; 18/04/2018 – Former Apple General …

Intel Corporation (NASDAQ:INTC) Logo

Primecap Management Company increased its stake in Intel Corp (INTC) by 0.26% based on its latest 2018Q4 regulatory filing with the SEC. Primecap Management Company bought 63,400 shares as the company’s stock rose 10.40% with the market. The institutional investor held 24.62 million shares of the semiconductors company at the end of 2018Q4, valued at $1.16B, up from 24.56M at the end of the previous reported quarter. Primecap Management Company who had been investing in Intel Corp for a number of months, seems to be bullish on the $240.61 billion market cap company. The stock increased 1.95% or $1.03 during the last trading session, reaching $53.51. About 10.20M shares traded. Intel Corporation (NASDAQ:INTC) has risen 12.75% since March 11, 2018 and is uptrending. It has outperformed by 8.38% the S&P500. Some Historical INTC News: 24/05/2018 – VentureBeat: Intel AI Lab open-sources library for deep learning-driven NLP; 23/05/2018 – Macron’s guest-list included Facebook Chief Executive Mark Zuckerberg, IBM’s Virginia Rometty, Intel’s Brian Krzanich, Microsoft’s Satya Nadella and a raft of other big hitters in the corporate world; 28/03/2018 – Inside An Intel Chip Fab: One Of The Cleanest Conference Rooms On Earth; 15/05/2018 – Lanner Announces Intent to Deliver Intel® Select Solution for uCPE and Accelerate Next-gen Deployments; 08/05/2018 – Al Semiconductor Company Syntiant Demonstrates Analog Neural Network for Always-On Battery-Powered Devices, Closes A Round Funding Led by Intel Capital; 18/04/2018 – Former Apple General Counsel Bruce Sewell Joins Village Enterprise Board; 13/03/2018 – Sen. Rich Burr: Senate Intel Chairman Burr on Gina Haspel to be Director of CIA; 09/03/2018 – Intel considers bid for Broadcom: Dow Jones, citing; 10/05/2018 – Intel Editorial: The U.S. Needs a National Strategy on Artificial Intelligence; 18/04/2018 – FogHorn to Showcase lloT Edge to Cloud Machine Learning with Google and Intel at Hannover Messe 2018

Harding Loevner Lp decreased its stake in Jd Com Inc (JD) by 6.62% based on its latest 2018Q4 regulatory filing with the SEC. Harding Loevner Lp sold 168,976 shares as the company’s stock rose 35.13% with the market. The hedge fund held 2.38M shares of the consumer services company at the end of 2018Q4, valued at $49.86M, down from 2.55M at the end of the previous reported quarter. Harding Loevner Lp who had been investing in Jd Com Inc for a number of months, seems to be less bullish one the $40.26B market cap company. The stock increased 2.85% or $0.77 during the last trading session, reaching $27.82. About 12.15 million shares traded. JD.com, Inc. (NASDAQ:JD) has declined 37.48% since March 11, 2018 and is downtrending. It has underperformed by 41.85% the S&P500. Some Historical JD News: 08/05/2018 – JD.COM INC – ANNUAL ACTIVE CUSTOMER ACCOUNTS INCREASED BY 27.6% TO 301.8 MLN IN TWELVE MONTHS ENDED MARCH 31, 2018; 08/05/2018 – JD Com Sees 2Q Rev CNY120B-CNY124; 27/04/2018 – iQlYl and JD.com Announce Exclusive Strategic Partnership to Drive Growth of Paid Memberships; 08/05/2018 – JD.COM 1Q ADJ EARNINGS PER ADS 71 RMB CENTS, EST. 82 RMB CENTS; 09/05/2018 – JD.com and iQlYl Joint Membership Program Attracts a Combined One Million Users in the First Week; 18/04/2018 – LESHI 300104.SZ SAYS ITS TIANJIN UNIT RECEIVES INVESTMENTS FROM INVESTORS SUCH AS COMPANIES RELATED TO JD.COM, SUNING AND TCL; 18/04/2018 – MEDIA-Tencent, JD.com, Wanda to fund LeEco subsidiaries -Caixin; 02/04/2018 – CHINA REGULATOR ASKS JD.COM TO IMPROVE MGMT ON PUBLICATION SALE; 07/05/2018 – Mawer Adds JD.com, Exits Cenovus Energy, Cuts Unilever: 13F; 17/05/2018 – WALMART – QTRLY ADJ SHR EXCLUDES IMPACT FROM UNREALIZED LOSS OF $0.47 ON EQUITY INVESTMENT IN JD.COM DUE TO CHANGE IN ACCOUNTING PRINCIPLES

More notable recent JD.com, Inc. (NASDAQ:JD) news were published by: Investorplace.com which released: “3 Chinese Stocks to Stop Worrying About and Buy – Investorplace.com” on February 22, 2019, also Fool.com with their article: “JD.com Earnings: 352 Million Active Users Drove 16% Sales Growth – The Motley Fool” published on March 05, 2019, Seekingalpha.com published: “JD.com: What’s Priced In? (Podcast Transcript) – Seeking Alpha” on February 19, 2019. More interesting news about JD.com, Inc. (NASDAQ:JD) were released by: Nasdaq.com and their article: “Why JD.com Stock Rose 11.5% in February – Nasdaq” published on March 06, 2019 as well as Nasdaq.com‘s news article titled: “JD.com Earnings: JD Stock Jumps on Surprising Q4 – Nasdaq” with publication date: February 28, 2019.

Harding Loevner Lp, which manages about $36.30B and $17.28 billion US Long portfolio, upped its stake in Sap Se (NYSE:SAP) by 11,514 shares to 6.27M shares, valued at $624.39 million in 2018Q4, according to the filing. It also increased its holding in Cognizant Technology Solutio (NASDAQ:CTSH) by 134,296 shares in the quarter, for a total of 2.13 million shares, and has risen its stake in Check Point Software Tech Lt (NASDAQ:CHKP).

Analysts await JD.com, Inc. (NASDAQ:JD) to report earnings on May, 14. They expect $0.04 EPS, down 76.47% or $0.13 from last year’s $0.17 per share. JD’s profit will be $57.89 million for 173.88 P/E if the $0.04 EPS becomes a reality. After $-0.03 actual EPS reported by JD.com, Inc. for the previous quarter, Wall Street now forecasts -233.33% EPS growth.

More notable recent Intel Corporation (NASDAQ:INTC) news were published by: Nasdaq.com which released: “Intel (INTC) Stock Climbed Tuesday: Time to Buy? – Nasdaq” on August 21, 2018, also Investorplace.com with their article: “Friday’s Vital Data: Bristol-Myers Squibb, Intel and Activision Blizzard – Investorplace.com” published on February 15, 2019, Seekingalpha.com published: “Intel -1.4% on new security issue report – Seeking Alpha” on March 05, 2019. More interesting news about Intel Corporation (NASDAQ:INTC) were released by: Seekingalpha.com and their article: “Intel Long-Term Target Prices – Seeking Alpha” published on February 28, 2019 as well as Nasdaq.com‘s news article titled: “Here’s What to Expect from Intel’s (INTC) Q4 Earnings Thursday – Nasdaq” with publication date: January 23, 2019.

Primecap Management Company, which manages about $87.86 billion and $123.42B US Long portfolio, decreased its stake in Epizyme (NASDAQ:EPZM) by 112,400 shares to 9.56M shares, valued at $58.87 million in 2018Q4, according to the filing. It also reduced its holding in Fedex Corp (NYSE:FDX) by 41,302 shares in the quarter, leaving it with 15.06M shares, and cut its stake in Faro Technologies Inc. (NASDAQ:FARO).

Intel Corporation (NASDAQ:INTC) Institutional Positions Chart

Related Posts:

  • No Related Posts