Senmiao Technology Announces Signing of Cooperation Agreement with New Energy Vehicle Charging Service Provider in Sichuan Province

CHENGDU, China, October 27, 2022 /PRNewswire/ — Senmiao Technology Limited (“Senmiao” or the “Company”) (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 that its wholly owned subsidiary Chengdu Xixingtianxia Technology Co., Ltd. (“XXTX”) has signed an agreement with Sichuan Qingzhuang New Energy Ltd. (“Qingzhuang”), a provider of new energy vehicle charging services and one-stop online marketing operation and management solutions for merchants of Sichuan Province.

Qingzhuang provides new energy vehicle charging services to drivers through its online application “Qingzhuang Charging” (the “Qingzhuang Application”) and offers marketing solutions for small and medium-sized physical merchants in Sichuan Province on the same application platform.

In accordance with the agreement, Senmiao will launch a marketing campaign on the Qingzhuang app, targeting drivers of new energy vehicles in Chengdu. Senmiao drivers who drive new energy vehicles in Chengdu can also register on the Qingzhuang app for charging services. Qingzhuang will pay Senmiao’s commission fee based on the actual billing amount accrued by Senmiao’s drivers on a monthly basis. The partnership started in October 2022 for a term of up to June 30, 2023subject to renewal or early termination of the contract.

Xi WenChairman and CEO of Senmiao said, “We are delighted to have established this cooperation with Qingzhuang in Chengduwhich will provide expanded charging options for our drivers who drive new energy vehicles while increasing public awareness of our online carpooling platform among many other merchant partners in Qingzhuang, as well as charging customers everywhere Sichuan Province. We look forward to developing this relationship in the months ahead and are excited about its potential for the future.”

About Senmiao Technology Limited

Based at Chengdu, Sichuan ProvinceSenmiao provides automobile transaction and related services, including automobile sales, automobile purchase facilitation and services, financing, management, operating leases, warranties and other services vehicle transaction business, as well as operating its own ride-sharing platform primarily aimed at growing online transportation. -hail market in Senmiao operation areas 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 ridesharing platform) are subject to risks, uncertainties and important assumptions, including those detailed from time to time in Senmiao’s filings with the SEC, and represent the opinions of Senmiao only as of the date on which they are made and should not be taken to represent the opinions of Senmiao as of any later date. Senmiao undertakes no obligation to publicly revise any 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
Caroline Sohnvice president Lucy MaAssociated
+1 408-538-4577 +86 10 5661 7012
[email protected] [email protected]

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SOURCESenmiao Technology Limited

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