Senmiao Technology launches carpooling platform in Tianjin and Foshan

CHENGDU, China, August 18, 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 the launch of its own online carpooling platform for drivers in two cities: Tianjin, Chinaand Foshan, Guangdong Province.

Senmiao launched its online carpooling platform in Tianjin and Foshan at the end July 2022. With the addition of Tianjin and Foshan, Senmiao’s platform is now available in 24 cities across Chinaincluding six cities of Sichuan Province and 18 major cities in other provinces of China. Since the launch in Tianjin and Foshan, Senmiao has completed more than 2,000 orders in these two cities through its online carpooling platform from August 15, 2022.

With a population of approximately 13.7 million, Tianjin is a municipality directly governed by the central government and is a coastal megacity of North China by the Bohai Sea. It is the largest port city in North China and is a global shipping and logistics hub, an international transportation hub, and a modern manufacturing base. Tianjin is one of the main functional cities of the “Jing-Jin-Ji” metropolitan area, also known as the beijing-Tianjin-Hebei Capital Economic Zone, the largest urbanized area in North China.

As a megacity of Guangdong Province with one of the most developed private economies in the country, Foshan is an important manufacturing base in Chinaa key region in the economic development of Guangdong Province, and a major transportation hub. Foshan works with Canton to form the “Guangzhou-Foshan Metropolis Circle”, actively promoting the urbanization of Guangzhou-Foshan. Foshan has a population of 9.5 million and is the core region of Cantonese culture with rich historical and cultural influences.

Xi WenCEO of Senmiao, said, “We are delighted to continue to strengthen our partnership with Gaode Map (AutoNavi Software Co., Ltd.) with the launch of our platform in Tianjin and Foshan, both of which are strategically important cities in transportation and economy in their respective metropolitan areas. We believe that the launch in Tianjin will be the catalyst that will provide us with a better opportunity to capture a larger market share in North China. Senmiao launched its online carpooling platform in Canton in March 2021, and the addition of Foshan allows us to better grasp the benefits brought by the urbanization of the Guangzhou-Foshan region. We will continue to explore opportunities to launch our platform in other major cities with growth potential as we look to grow this business in 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 platform, as well as its own ride-sharing platform aimed primarily 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
+1 415-568-2255 +86 10 5661 7012
[email protected] [email protected]

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SOURCESenmiao Technology Limited

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