Senmiao Technology Limited is filing an amendment (Amendment No. 1) to its Quarterly Report on Form 10-Q for the period ended December 31, 2025, to restate its previously issued unaudited condensed consolidated financial statements. The restatement is due to misstatements identified in the classification of pre-funded warrants and November 2025 private placement warrants, which were incorrectly treated as equity instruments instead of liability instruments measured at fair value. This misclassification affected derivative liabilities, additional paid-in capital, accumulated deficit, and various income/loss figures for the three and nine months ended December 31, 2025. The company cited material weaknesses in internal control over financial reporting, specifically related to insufficient personnel with adequate accounting knowledge for complex U.S. GAAP issues and ineffective controls over financial disclosure and reporting processes.