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’s long-lived assets are all located in the PRC and all of the Company’s revenues are derived from the PRC. Therefore, no geographical segments are presented. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (CODM) for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. 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 Company’s CODM relies upon the consolidated results of operations as a whole when making decisions about allocating resources and assessing the performance of the Company. The Company has concluded that consolidated net (loss) income is the measure of segment profitability. Within the information provided, the CODM specifically reviews depreciation and amortization, which are a significant segment expense, as this represents significant cost affecting the Company’s decision on how to allocate resources. Other operating expenses are reviewed in aggregate.
The following table presents the significant revenue, loss from operations, loss before income taxes and net loss in the Company’s operating segments from continuing operations and discontinued operations for the years ended March 31, 2026 and 2025:
| For the Years Ended March 31, | ||||||||||||
| 2026 | 2025 | |||||||||||
| Automobile | Automobile | |||||||||||
| Transaction and | Transaction and | Online ride-hailing | ||||||||||
| Related | Related | platform | ||||||||||
| Services | Services | Services | ||||||||||
| from continuing operations* | from continuing operations* | from discontinued operations | ||||||||||
| Revenues | $ | 1,546,127 | $ | 1,896,171 | $ | 344,241 | ||||||
| Depreciation and amortization | $ | 994,638 | $ | 1,039,323 | $ | 37,984 | ||||||
| Loss from operations | $ | (2,888,197 | ) | $ | (1,989,592 | ) | $ | (242,999 | ) | |||
| Loss before income taxes | $ | (5,268,901 | ) | $ | (1,906,841 | ) | $ | (218,157 | ) | |||
| Net (loss) income | $ | (5,268,901 | ) | $ | (1,906,841 | ) | $ | 184,128 | ||||
| Capital expenditure | $ | $ | 415 | $ | ||||||||
| * | Amounts of continuing operating segment can agree to the consolidated statements of operations and comprehensive loss for the years ended March 31, 2026 and 2025. |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 30, 2026 | Showing above |
| 2025 | Jul 10, 2025 | |
| 2024 | Jun 27, 2024 | |
| 2023 | Jul 13, 2023 | |
| 2022 | Jul 15, 2022 | |
| 2021 | Jul 8, 2021 | |
| 2019 | Jul 5, 2019 | |
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.