Senmiao says Dec. 31, 2025 quarterly financials should no longer be relied on after warrant accounting error

• Senmiao Technology’s audit committee said unaudited financial statements in its Form 10-Q for the quarter ended Dec. 31, 2025 should no longer be relied upon.
• Error tied to misclassification of 905,000 pre-funded warrants and 4,510,000 private placement warrants as equity instead of derivative liabilities at fair value.
• Restatement planned; derivative liabilities understated by USD 4.93 million and additional paid-in capital overstated by USD 2.83 million as of Dec. 31, 2025.
• Misstatements also affected income items, including understated gain on fair-value changes of USD 813,000 and understated excess warrant fair value over proceeds of USD 2.9 million.
• Audit committee discussed the matter with Marcum Asia CPAs; management linked the error to previously disclosed material weaknesses in internal controls.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Senmiao Technology Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-073669), on June 30, 2026, and is solely responsible for the information contained therein.