Senmiao Technology Launches Ride-Hailing Platform in Suzhou, A Major City in Jiangsu Province

Rhea-AI Summary

Senmiao Technology Limited (Nasdaq: AIHS) has launched its proprietary online ride-hailing platform in Suzhou, China, expanding its service to 12 cities. Suzhou, with a population of approximately 12.7 million, is a key city in the Yangtze River Delta. The CEO, Xi Wen, expressed optimism about expanding the platform's reach in major cities, particularly given Suzhou's proximity to Shanghai. Senmiao focuses on the online ride-hailing industry and provides various automobile transaction services.

Positive

• Launch of ride-hailing platform in Suzhou increases market presence to 12 cities.
• Suzhou is a strategic location with a significant population, enhancing potential user base.

Negative

• None.

CHENGDU, China, Nov. 30, 2021 /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 the launch of its proprietary online ride-hailing platform for drivers in Suzhou, China.

With the launch in Suzhou, Senmiao's platform is now available in 12 cities across China, six cities in Sichuan Province and six major cities in other provinces in China. With a population of approximately 12.7 million, Suzhou is recognized as one of the important central cities in the Yangtze River Delta by the State Council of China. Located just west of Shanghai, Suzhou is a national high-tech industrial base and a popular tourist destination known for its scenic canals, bridges and classical gardens.

Xi Wen, Senmiao's Chairman and Chief Executive Officer, stated, "We are pleased to continue the rapid expansion of our partnership with Gaode Map with the launch of our online ride-hailing platform in Suzhou just a few weeks after launching in Xuzhou. Given Suzhou's proximity to Shanghai, the city is well-traveled, making online ride-hailing an increasingly common method of everyday transportation. We look forward to establishing a foothold in these major cities of Jiangsu province as we explore additional cities for expansion opportunities."

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, 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
+1 415-568-2255                                                                             +86 10 5661 7012
csohn@equityny.com                                                                       lma@equityny.com

© 2021 Senmiao Technology Ltd. All rights reserved.

 

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SOURCE Senmiao Technology Limited

FAQ

What is the recent development for Senmiao Technology Limited (AIHS) in Suzhou?

Senmiao has launched its online ride-hailing platform in Suzhou, enhancing its service offerings in China.

How many cities does Senmiao's ride-hailing platform currently operate in?

Senmiao's ride-hailing platform is now available in 12 cities across China.

What is the significance of Suzhou for Senmiao Technology Limited?

Suzhou has a population of about 12.7 million and is a major city in the Yangtze River Delta, making it strategically important for the company's expansion.

Who is the CEO of Senmiao Technology Limited?

The CEO of Senmiao is Xi Wen.