Benzinga | Nov 3, 2021 09:25AM EDT

Senmiao Technology Reports Signing Of Coop Deal With Guizhou Zhongxuan Online Ride-Hailing Operation Group, No Terms Disclosed

Senmiao Technology Limited ("Senmiao") (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 signing of a new cooperation agreement (the "Agreement") with Guizhou Zhongxuan Online Ride-hailing Operation Group Ltd. ("Zhongxuan"), one of the largest online ride-hailing companies in Guizhou Province focused on tourism and charter passenger transportation, passenger station management, online ride-hailing platform operation, new energy vehicle sales and maintenance, as well as electric vehicle charging and swapping power station operations.

According to the terms of the Agreement, Senmiao will provide customized passenger transportation, intercity carpooling, city express, Gaode SAAS express operation support services, as well as the development, implementation and technical support for Zhongxuan's taxi brand in Guiyang City and other key cities and regions in Guizhou Province. Zhongxuan will provide the certifications and resources for the customized passenger transportation, intercity carpooling and online ride-hailing business and will also manage communications with local government officials. The two parties anticipate signing additional contracts to specify details surrounding this cooperation in the future.

Xi Wen, Chairman, Chief Executive Officer and President of Senmiao, stated, "We are pleased to announce this new partnership with Zhongxuan, a leader in Guizhou Province's transportation and online ride-hailing markets with unparalleled expertise in platform operation and an extensive local network. Senmiao looks forward to expanding our presence in Guizhou with this cooperation and believes this is only the beginning of a productive relationship with Zhongxuan whereby both parties can leverage their core competencies in technology systems to further digital transformation across the industry."