Senmiao Teams Up With AI Firm to Boost Ride-Hailing Efficiency in China With Smart Data Platform

Senmiao Technology Limited ("Senmiao" or the "Company") (NASDAQ:AIHS), a financing and servicing company focused on the online ride-hailing industry in China, today announced that it has signed a strategic cooperation agreement (the "Agreement") with Changsha Yipeng Information Technology Co., Ltd. ("Changsha Yipeng") to jointly develop an AI-backed data management system aiming to improve efficiency of online ride-hailing management platforms.

Changsha Yipeng has over a decade of experience in developing integrated AI-based information systems, big data, and cloud platforms for government and private entities in China, across a variety of sectors.

Pursuant to the Agreement, Changsha Yipeng will utilize Senmiao's data (related to drivers, vehicles and riders) from its historical operating information, to develop an AI-backed data management system to facilitate the collection and analysis of data and ultimately provide online ride-hailing service providers with efficient and safe ways to operate their service vehicles. Along with the development of the project,, both parties will jointly seek necessary financing for its full development and deployment.