Senmiao Technology Limited's Audit Committee concluded that the company's unaudited condensed financial statements for the period ended December 31, 2025, should no longer be relied upon due to error in classification of 905,000 pre-funded warrants and 4,510,000 private placement warrants as equity rather than derivative liabilities. The misstatements include an understatement of derivative liabilities by $4,925,000 and an overstatement of additional paid-in capital by $2,829,000. The company intends to file a restatement of its unaudited condensed financial statements. Senmiao Technology Limited is a technology company providing medical technology solutions.

Senmiao Technology Limited held its Annual Meeting of Stockholders on June 11, 2026, where stockholders approved several significant corporate actions, including authorization for the Board of Directors to effect a reverse stock split of up to 1-for-100, an increase in authorized common stock from 50,000,000 to 500,000,000 shares, and a private placement of up to $11,000,000. The meeting also resulted in the election of five directors and the ratification of Marcum Asia CPAs LLP as the registered public accounting firm. Senmiao Technology Limited is a technology company providing services in the high-tech zone of Chengdu, China.