AIHS - Senmiao Technology signs online ride-hailing contract with Guangzhou-based leasing firm

• Senmiao Technology ( NASDAQ: AIHS ) stated Tuesday its wholly owned subsidiary Chengdu Xixingtianxia has signed one-year agreement with automobile leasing company Baishi Haoyun through Aug. 2023.
• Under the deal, Baishi Haoyun will utilize Senmiao's online ride-hailing platform to provide ride-hailing services by appointment in Guangzhou.
• Senmiao will assign online ride orders to Baishi Haoyun's drivers and provide real-time information including service types and prices. In turn, Senmiao will pay commission fees to Baishi Haoyun on a monthly basis, which are based on fares collected from customers.
• "We are excited to announce our cooperation with Baishi Haoyun, an established company that possesses a competitive advantage in Guangzhou with its 20 years of local operating history," commented Chairman and CEO Xi Wen.
• Stock is up 8% in early trading session on Tuesday.

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