Senmiao Technology Announces Signing of Cooperation Agreement for AI-driven Application Development

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Feb 22, 2024, 09:00 ET

Companies to Explore Creation and Deployment of AI-Driven Support and Service Application for Senmiao's Drivers with Chengdu Daren Duoduo Culture Media

CHENGDU, China, Feb. 22, 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 its operating subsidiary Sichuan Senmiao Zecheng Business Consulting Co., Ltd. ("Zecheng"), has signed a strategic cooperation agreement (the "Agreement") with Chengdu Daren Duoduo Culture Media Co., Ltd. ("Daren Duoduo"), a MCN ("Multi-Channel Network") company focused on providing group purchasing services for local lifestyle merchants and the training and incubation of store-exploring influencers.

Pursuant to the Agreement signed on February 20, 2024, Zecheng and Daren Duoduo will jointly develop an AI-driven application called "Thinking Cell." Thinking Cell is designed to provide customized operation support and services to local lifestyle merchants in their promotional and sales efforts, and to online ride-hailing drivers who Senmiao serves on its platform. Utilizing existing AI models, Senmiao will provide the technological support for the development of the AI application with a focus on customization, and Daren Duoduo will be responsible for the comprehensive operation of Thinking Cell. It is expected that Thinking Cell will support Senmiao's SMS promotional campaigns and enable Senmiao's drivers to provide customized services for their customers.

Zecheng and Daren Duoduo will also explore the possibility of expanding Thinking Cell into additional application scenarios, including, but not limited to, providing more comprehensive and customized online ride-hailing experience for users on Senmiao's platform, as well as helping influencers of Daren Duoduo increase exposure and improve financial outcomes.

Xi Wen, Senmiao's Chairman and Chief Executive Officer stated, "We are excited about the cooperation with Daren Duoduo, and look forward to serving both Daren Duoduo's partners and our drivers with the introduction of this AI application. We believe this will help Senmiao create an enhanced on-the-road experience for our drivers and potentially for our customers in the future on our online ride-hailing platform and deliver improved overall satisfaction across our business."

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: [email protected]
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
[email protected]                                                                       [email protected]

Alice Zhang, Associate
+1 212-836-9610
[email protected]

SOURCE Senmiao Technology Limited