Senmiao Technology Announces Signing of Cooperation Agreement with Sichuan Chengfeng Intelligent Transportation

CHENGDU, China, October 26, 2021 / PRNewswire / – Senmiao Technology Limited (“Senmiao”) (Nasdaq: AIHS), a finance and services company focused on the online ridesharing industry at China as well as an operator of its own online carpooling platform, today announced the signing of a new cooperation agreement (the “Agreement”) with Sichuan Chengfeng Intelligent Transportation Co., Ltd. (“Chengfeng”), a wholly owned subsidiary of Neijiang Chengfeng Investment Co., Ltd. (“Chengfeng Investment”). Chengfeng Investment is a state-owned company specializing in personalized passenger transportation, taxis, online ridesharing services, and smart technology industries.

Chengfeng is a real-time GPS monitoring system construction and maintenance service provider for moving and fixed targets in Neijiang, Sichuan province. Since 2002, Chengfeng has established cooperative relationship with various well-known companies such as China Telecom and China Mobile.

Under the terms of the agreement, Senmiao will be responsible for providing operational support services for personalized passenger transportation, intercity carpooling, city express, SAAS express and technology systems involved in digital transformation, as well as providing the development , introduction and technical support for Chengfeng taxi brand. Chengfeng will provide certifications and resources for personalized passenger transportation, intercity carpooling, online carpooling business licenses, and also manage communications with local government officials.

The two sides initiated their first cooperation in September 2021 under a contract signed by Senmiao and Neijiang Di’An Automobile Service Ltd (“Di’An”), a subsidiary of Chengfeng. In this cooperation, Senmiao authorizes Di’An to act as an agent for an online carpooling operation in Neijiang City. Di’An will recruit and manage drivers and vehicles suitable for online carpooling services, and will take charge of communication with local authorities.

Xi wen, Chairman and CEO and Chairman of Senmiao, said, “We are delighted to announce this close partnership with Chengfeng, an innovative company with great expertise in Neijiang’s online ride-hailing market and having a strong relationship. local. With this cooperation with Chengfeng, Senmiao plans to accelerate the growth of its online carpooling business in Neijiang while exploring potential opportunities that would expand our footprint through Sichuan promote the interests of Senmiao and Chengfeng in technological systems involving digital transformation. “

About Senmiao Technology Limited

Based at Chengdu, Sichuan province, Senmiao provides auto transactions and related services, including auto sales, facilitation and auto purchase and financing, management, operating leasing, warranty and other transaction services. automobile, as well as the operation of its own carpooling platform aimed primarily at the growing online commute. -hail market in Senmiao areas of operation in China. For more information about Senmiao, please visit: http://www.senmiaotech.com. Senmiao regularly provides important updates on its website.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including those relating to the operation of Senmiao’s carpooling platform) are subject to important risks, uncertainties and assumptions, including those detailed from time to time in documents filed by Senmiao with the SEC, and represent Senmiao’s views only as of the date they are made and should not be construed as representing Senmiao’s views at any later date . Senmiao does not undertake to publicly revise forward-looking statements to reflect changes in events or circumstances.

For more information please contact:
In the business:
Yiye Zhou
E-mail: [email protected]
Telephone: +86 28 6155 4399

Investor Relations:
The Equity Group Inc. In China
Carolyne Sohn, Vice president Lucy ma, partner
(415) 568-2255 +86 10 5661 7012
[email protected] [email protected]

© 2021 Senmiao Technology Ltd. All rights reserved.

SOURCE Senmiao Technology Limited

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