CHENGDU,
China, Jan. 19, 2024 /PRNewswire/ -- Senmiao
Technology Limited ("Senmiao" or the "Company") (Nasdaq: AIHS),
a financing and servicing company focused on the online
ride-hailing industry in China as
well as an operator of its own online ride-hailing platform, today
announced that the Company's operating subsidiary Hunan
Xixingtianxia Technology Co., Ltd., and its subsidiaries, Haikou
Xixingtianxia Technology Co., Ltd., and Chengdu Xixingtianxia
Technology Co., Ltd., have signed a strategic cooperation agreement
(the "Agreement") with Anhui Lianma Technology Co., Ltd ("Lianma"),
a company with extensive experience in online ride-hailing platform
operation in multiple cities in China.
Pursuant to the Agreement signed on November 30, 2023, Senmiao and Lianma have
initiated a strategic cooperation in online ride-hailing platform
operations in several major cities in China, including Chengdu, Changsha and Guangzhou. Lianma is responsible for the
comprehensive operation of Senmiao's online ride-hailing platform
services under the original model[1] with its partner Gaode. Lianma is
to provide Senmiao with support in operating areas including but
not limited to business development, driver and vehicle resource
management, platform management and customer service. Senmiao will
pay Lianma service fees based on the number of completed orders per
month.
Xi Wen, Senmiao's Chairman and
Chief Executive Officer stated, "We believe partnering with Lianma
will help Senmiao increase our total completed orders each month
and improve overall efficiency in operations. This will help
mitigate the negative impact of increased competition and ongoing
compliance checks by Gaode in recent months."
[1] Under the
original model, orders coming from partner platforms are completed
by Senmiao's own platform. A rider can search for taxi/ride-hailing
services on Senmiao's partner platforms, which then provide the
rider with options for online ride-sharing service providers,
including Senmiao. If the rider selects Senmiao, the order will
then be distributed to registered drivers on Senmiao's own platform
for viewing and acceptance and then completed by Active Drivers.
Senmiao earns commissions for each completed order based on a
certain percentage of the value of the order.
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About Senmiao Technology Limited
Headquartered in Chengdu,
Sichuan Province, Senmiao provides
automobile transaction and related services including sales of
automobiles, facilitation and services for automobile purchases and
financing, management, operating leases, guarantees and other
automobile transaction services, as well as operates its own
ride-hailing platform aimed principally at the growing online
ride-hailing market in Senmiao's areas of operation in China. For more information about Senmiao,
please visit: http://www.senmiaotech.com. Senmiao routinely
provides important updates on its website.
Cautionary Note 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 ride-hailing platform) are subject to
significant risks, uncertainties and assumptions, including those
detailed from time to time in the Senmiao's filings with the SEC,
and represent Senmiao's views only as of the date they are made and
should not be relied upon as representing Senmiao's views as of any
subsequent date. Senmiao undertakes no obligation to publicly
revise any forward-looking statements to reflect changes in events
or circumstances.
For more information,
please contact:
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At the
Company:
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Yiye Zhou
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Email:
edom333@ihongsen.com
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Phone: +86 28 6155
4399
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Investor
Relations:
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The Equity Group
Inc.
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In China
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Carolyne Sohn, Vice
President
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Lucy Ma,
Associate
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+1
408-538-4577
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+86 10 5661
7012
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csohn@equityny.com
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lma@equityny.com
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Alice Zhang,
Associate
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+1
212-836-9610
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azhang@equityny.com
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© 2024 Senmiao Technology Ltd. All rights reserved.
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SOURCE Senmiao Technology Limited