CHENGDU, China, April 8, 2019 /PRNewswire/ -- Senmiao Technology
Limited (Senmiao) (NASDAQ: AIHS), an operator of an online lending
marketplace connecting Chinese investors with individual and
small-to-medium-sized enterprise borrowers, and a provider of
automobile transaction and financing services in China, announced today that Senmiao's majority
owned subsidiary, Hunan Ruixi Financial Leasing Co., Ltd. (Ruixi),
has completed 193 vehicles sales transactions worth approximately
RMB12.7 million (US$1.9 million) to ride-hailing drivers of Didi
Chuxing Technology Co., Ltd. (Didi), a leading ride-hailing and
ride-sharing platform in China. These vehicle sales occurred
in the Chengdu, China market and
represent the initial results of this corporate effort since the
official launch of Ruixi's automobile sales business in
Chengdu in late January 2019. As the fleet of Didi drivers in the
Chengdu region is expanding,
Senmiao believes Ruixi is well positioned to continue to place
purchase orders on vehicles catering to Didi drivers.
To meet demand, Ruixi plans to draw on a credit facility of
RMB400 million (US$59.7 million) granted by Bank of Changsha to fund vehicle purchases. For
2019, Ruixi plans to sell up to 2,000 vehicles in the Chengdu market, including up to 500 electronic
vehicles.
"The ride-hailing market is growing significantly in cities like
Chengdu with Didi leading the way.
Thanks to the credit facility by Bank of Changsha and the cooperation with Didi,
our automobile transaction and financing services business is
starting off on the right foot in the Chengdu markets," commented Xi
Wen, Chairman, Chief Executive Officer and President of
Senmiao.
About Senmiao
Headquartered in Chengdu,
Sichuan Province, Senmiao operates
an online lending platform, www.ihongsen.com, which connects
Chinese investors with individual and small-to-medium-sized
enterprise borrowers. Senmiao also owns a majority interest in a
Chinese automobile financial leasing services and automobile sales
company offering sales, facilitation, purchase services,
management, guarantee and other automobile transaction
services. For more information about Senmiao, please visit:
http://ir.ihongsen.com/index.
Cautionary Note Regarding Forward-Looking Statements
This press release of Senmiao Technology Limited
(Senmiao) contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning the
Chinese online P2P industry, the development of Senmiao's
automobile transaction and financing services and the Chinese
vehicle financial leasing market, and Senmiao's plans,
objectives, goals, strategies, and performance, as well as the
assumptions such statements and other statements that are not
statements of historical facts. When Senmiao uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties that may cause actual results to differ materially
from Senmiao's expectations, including, but not limited to, risks
and uncertainties relating to the following: the risk that
the anticipated growth of the Company's automobile transaction and
financing services may not be realized; Senmiao's future business
development; product and service demand and acceptance; changes in
technology; economic conditions; reputation and brand; the impact
of competition and pricing; the impact of government regulations;
fluctuations in general economic and business conditions in
China and other risks expressed in
reports filed by Senmiao with the U.S. Securities and Exchange
Commission. For these reasons, among others, investors
are cautioned not to place undue reliance on any forward-looking
statements. Senmiao's filings with the U.S. Securities and Exchange
Commission are available for review at www.sec.gov. Senmiao
undertakes no obligation to publicly revise any
forward‐looking statements to reflect changes in
events or circumstances.
For more information, please contact:
At the Company:
Julie Zhu
Email: julie@ihongsen.com
Phone: +86-181-9085-0098
Investor Relations:
Tony
Tian,
CFA
Weitian Group LLC
Email: ttian@weitianco.com
Phone: +1-732-910-9692
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SOURCE Senmiao Technology Limited