Senmiao Technology Ltd Segments Disclosure
18. SEGMENT INFORMATION
The Company presents segment information after elimination of inter-company transactions. In general, revenue, cost of revenue and operating expenses are directly attributable, or are allocated, to each segment. The Company allocates costs and expenses that are not directly attributable to a specific segment, such as those that support infrastructure across different segments, to different segments mainly on the basis of usage, revenue or headcount, depending on the nature of the relevant costs and expenses. The Company does not allocate assets to its segments as the CODM does not evaluate the performance of segments using asset information.
By assessing the qualitative and quantitative criteria established by Accounting Standards Codification (“ASC”) 280, “Segment Reporting”, the Company considers itself to be operating in only one reportable segment of automobile transaction and related services after discontinued the online ride-hailing platform services on August 20, 2024.
The following table presents the significant revenue, loss from operations, loss before income taxes and net loss in the Company’s single operating segment for the years ended March 31, 2025 and 2024:
| For the Years Ended | ||||||||
| March 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenues | $ | 3,389,072 | $ | 4,320,031 | ||||
| Depreciation and amortization | $ | 1,278,797 | $ | 1,403,215 | ||||
| Loss from operations | $ | (3,867,516 | ) | $ | (4,375,528 | ) | ||
| Loss before income taxes | $ | (3,467,165 | ) | $ | (3,834,000 | ) | ||
| Net loss | $ | (3,467,165 | ) | $ | (3,854,206 | ) | ||
| Capital expenditure | $ | 1,602 | $ | 671,679 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 10, 2025 | Showing above |
| 2024 | Jun 27, 2024 | |
| 2023 | Jul 13, 2023 | |
| 2022 | Jul 15, 2022 | |
| 2021 | Jul 8, 2021 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.