CHENGDU, China, June 12, 2025 (GLOBE NEWSWIRE) -- 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 Qinhong International Group ("Qinhong").

Since its incorporation in 2013, Qinhong has provided financing facilitation support, financial services referral and loan consulting services, primarily to small and medium-sized enterprises ("SMEs") and other financial institutions in Southwest China.

Pursuant to the Agreement, leveraging both companies' existing business relationships and customer resources, Senmiao will have the opportunity to participate in Qinhong's business across China. Furthermore, Qinhong, relying on its extensive relationships with banks and other financial institutions, will assist Senmiao in securing financing to fund its business plan, when needed.

Xi Wen, Senmiao's Chairman and Chief Executive Officer stated, "We believe the cooperation with Qinhong represents a new growth and expansion opportunity for Senmiao. Leveraging our combined strengths and expertise, we will be sharing resources to mutually support our businesses, expand customer base and boost revenues."

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 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

Senmiao Technology and Qinhong International Group Sign a Strategic Cooperation Agreement to Jointly Promote Their Services to SMEs in China