CHENGDU, China, March 13, 2019 — Senmiao Technology Limited (“Senmiao” or the “Company”) (NASDAQ: AIHS), an operator of an online lending marketplace connecting Chinese investors with inidual and small-to-medium-sized enterprise borrowers, and a provider of automobile transaction and financing services in China, today announced that Sichuan Jinkailong Automobile Leasing Co., Ltd. (“Jinkailong”), a variable interest entity of Senmiao’s majority owned subsidiary Hunan Ruixi Financial Leasing Co., Ltd. (“Ruixi”), has signed a cooperation agreement with Shanghai Jitu Information Technology Co., Ltd. (“Jitu”), a cooperator of Ctrip.com International, Limited (NASDAQ: CTRP). The agreement allows Jinkailong to provide auto transaction and financing services for drivers who participate in Jitu’s intercity ride-hailing platform in Sichuan Province. Jinkailong expects to provide transaction and financing services for up to 100 drivers in 2019, as a backdrop to Jitu expanding its intercity ride-hailing program in Sichuan Province.
Xi Wen, Chairman, Chief Executive Officer and President of Senmiao, commented, “through partnerships with leading ride-hailing and ride-sharing platforms such as Didi and Jitu, Jinkailong offers a path for participating in the booming Chinese ride-hailing and ride-sharing market. We look forward to this partnership with Jitu growing and bearing fruit in 2019 and beyond.”
Headquartered in Chengdu, Sichuan Province, Senmiao operates an online lending platform, www.ihongsen.com, which connects Chinese investors with inidual and small-to-medium-sized enterprise borrowers. Senmiao also owns a majority interest in a Chinese automobile financial leasing company offering facilitation, purchase services, management, guarantee and other automobile transaction services. For more information about the Company, please visit: http://ir.ihongsen.com/index.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Chinese online P2P industry, the development of the Company’s automobile transaction and financing services and the Chinese vehicle financial leasing market, and the Company’s plans, objectives, goals, strategies, and performance, as well as the assumptions such statements and other statements that are not statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations, including, but not limited to, risks and uncertainties relating to the following: the risk that the anticipated growth of the Company’s automobile transaction and financing services may not be realized; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; the impact of government regulations; fluctuations in general economic and business conditions in China and other risks expressed in reports filed by the Company with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance on any forward-looking statements. The Company’s filings with the U.S. Securities and Exchange Commission are available for review at www.sec.gov. The Company 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:
Tony Tian, CFA
Weitian Group LLC
SOURCE Senmiao Technology Limited