CHENGDU,
China, Oct. 17, 2023 /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. ("XXTX"), has signed a strategic
cooperation agreement with Sichuan Xingyuan Ronghe New Energy Co.,
Ltd. ("Xingyuan"). Xingyuan provides automobile supply chain
financing to major online ride-hailing platforms in China and invests, builds and operates new
energy battery swap stations. With more than 10,000 new energy
vehicles ("NEVs") in operation for online ride-hailing services in
12 cities in China, including
Hangzhou, Shenzhen and Guangzhou, Xingyuan operates the fifth-largest
number of owned NEVs for online ride-hailing enterprises
nationwide.
Senmiao and Xingyuan initiated a strategic cooperation in
automobile supply chain financing. Pursuant to the agreement,
Xingyuan will provide comprehensive financing solutions for Senmiao
and its channel and merchandise partners. Senmiao will introduce
Xingyuan to its online ride-hailing services partners, providing
them with access to Xingyuan's efficient financing services for
vehicle purchases. In addition, Xingyuan will provide Senmiao with
resources such as discounted NEV purchasing channels and new energy
battery swapping vehicle operations.
Xi Wen, Senmiao's Chairman and
Chief Executive Officer stated, "We are pleased to have formed a
strategic cooperation with Xingyuan, a company with extensive
experience and resources in automobile supply chain financing. We
believe the additional financing and operational support from
Xingyuan, will enable Senmiao to accelerate the growth of our
automobile rental business and online ride-hailing platform
services by lowering the cost to purchase NEVs for drivers."
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:
At the Company:
Yiye Zhou
Email: edom333@ihongsen.com
Phone: +86 28 6155 4399
Investor Relations:
The Equity Group Inc.
In China
Carolyne Sohn, Vice
President
Lucy Ma, Associate
+1
408-538-4577
+86 10 5661 7012
csohn@equityny.com
lma@equityny.com
Alice Zhang, Associate
+1 212-836-9610
azhang@equityny.com
© 2023 Senmiao Technology Ltd. All rights reserved.
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SOURCE Senmiao Technology Limited