Senmiao Technology Establishes Cooperation with First Franchise Partner to Expand Vehicle Resources and Promote Online Ride-hailing Platform in Changsha

CHENGDU, China, Dec. 16, 2022 /PRNewswire/ — Senmiao Know-how Limited (“Senmiao” or the “Organization”) (Nasdaq: AIHS), a financing and servicing company focusing on the on the internet ride-hailing sector in China as perfectly as an operator of its very own on-line trip-hailing platform, today announced that its wholly owned subsidiary Hunan Xixingtianxia Engineering Co., Ltd. has signed a deal to establish a cooperation with Changzhou Fire Spider Information Network Technological know-how Co., Ltd. (“Fireplace Spider Details Network”) to develop car or truck means and advertise Senmiao’s on the net ride-hailing platform in Changsha. Fireplace Spider Data Network is a know-how company company integrating finance, e-commerce and provide chain.

Pursuant to the contract, Senmiao authorizes Hearth Spider Details Community to be its franchise running partner, efficient November 16, 2022. Fire Spider Details Community will aid Senmiao in its growth of vehicle assets and advertising of Senmiao’s experience-hailing system in Changsha, a person of Senmiao’s important metropolitan areas. Hearth Spider Data Community will pay a a person-time franchise rate to Senmiao, and Senmiao will pay fee service fees dependent on the true quantity of operational earnings accrued by Hearth Spider Data Network’s recruited motor vehicles on a every month basis. The agreement expires on November 16, 2023, on which working day it will mechanically renew for a one-calendar year interval, subject matter to early termination by Senmiao in circumstance Fireplace Spider Data Network fails to fulfill its obligations beneath the agreement.

Xi Wen, Senmiao’s Chairman and Chief Govt Officer, said, “We are happy to be working with Fire Spider Data Community as our first franchise lover, expanding our presence in Changsha via this new cooperation design. As COVID-19-linked travel constraints and community lockdowns have slowly lifted throughout the state in December, we have noticed a constant boost in the quantity of daily concluded orders on Senmiao’s experience-hailing system. We consider this new cooperation product will allow us to far more swiftly and successfully broaden our car and driver base to the profit of our experience-hailing platform. We appear forward to creating a lot more partnerships in critical towns and continue being optimistic about the prospects ahead.”

About Senmiao Technology Constrained

Headquartered in Chengdu, Sichuan Province, Senmiao delivers auto transaction and associated services together with product sales of automobiles, facilitation and services for auto purchases and funding, administration, operating leases, guarantees and other vehicle transaction expert services, as properly as operates its own journey-hailing system aimed principally at the rising on-line trip-hailing market place in Senmiao’s regions of procedure in China. For a lot more information and facts about Senmiao, remember to take a look at: Senmiao routinely supplies significant updates on its internet site.

Cautionary Note Concerning Ahead-Looking Statements

This push release has forward-looking statements as described by the Private Securities Litigation Reform Act of 1995. These ahead-looking statements (which includes people relating to the operation of Senmiao’s trip-hailing platform) are issue to major threats, uncertainties and assumptions, which includes people comprehensive from time to time in the Senmiao’s filings with the SEC, and represent Senmiao’s sights only as of the day they are created and should really not be relied upon as representing Senmiao’s sights as of any subsequent date. Senmiao undertakes no obligation to publicly revise any ahead-seeking statements to mirror improvements in events or instances.

For much more information and facts, be sure to call:

At the Corporation:
Yiye Zhou
Email: [email protected]
 Phone: +86 28 6155 4399

Investor Relations:

The Equity Group Inc.                                                                      In China
Carolyne Sohn, Vice President                                                        Lucy Ma, Affiliate
+1 408-538-4577                                                                             +86 10 5661 7012
[email protected]                                                                       [email protected]

Alice Zhang, Associate
+1 212-836-9610
[email protected]

© 2022 Senmiao Technology Ltd. All rights reserved.



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