AIHS - Senmiao Technology Announces Signing of Strategic Cooperation Agreement with Anhui Lianma Technology | Benzinga
CHENGDU, China, Jan. 19, 2024 /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 that the Company's operating subsidiary Hunan Xixingtianxia Technology Co., Ltd., and its subsidiaries, Haikou Xixingtianxia Technology Co., Ltd., and Chengdu Xixingtianxia Technology Co., Ltd., have signed a strategic cooperation agreement (the "Agreement") with Anhui Lianma Technology Co., Ltd ("Lianma"), a company with extensive experience in online ride-hailing platform operation in multiple cities in China.
Pursuant to the Agreement signed on November 30, 2023, Senmiao and Lianma have initiated a strategic cooperation in online ride-hailing platform operations in several major cities in China, including Chengdu, Changsha and Guangzhou. Lianma is responsible for the comprehensive operation of Senmiao's online ride-hailing platform services under the original model[1] with its partner Gaode. Lianma is to provide Senmiao with support in operating areas including but not limited to business development, driver and vehicle resource management, platform management and customer service. Senmiao will pay Lianma service fees based on the number of completed orders per month.
Xi Wen, Senmiao's Chairman and Chief Executive Officer stated, "We believe partnering with Lianma will help Senmiao increase our total completed orders each month and improve overall efficiency in operations. This will help mitigate the negative impact of increased competition and ongoing compliance checks by Gaode in recent months."