Senmiao Technology Signs a Strategic Cooperation Agreement with Changsha Yipeng to Develop an AI-Backed Data Management System for Online Ride-Hailing Service Providers
Senmiao Technology (NASDAQ: AIHS) has entered into a strategic partnership with Changsha Yipeng Information Technology to develop an AI-powered data management system for online ride-hailing platforms.
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Rhea-AI Summary
Positive
- Partnership with an experienced AI technology company with over 10 years of expertise
- Potential new revenue stream from monetizing existing historical data
- Strategic pivot following the sale of ride-hailing platform
Negative
- Additional financing needed for full development and deployment
- No immediate revenue impact as system is still in development phase
- Recent divestment of core ride-hailing platform indicates business model transition
Details
News Market Reaction – AIHS
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CHENGDU, China, June 13, 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 Changsha Yipeng Information Technology Co., Ltd. (“Changsha Yipeng”) to jointly develop an AI-backed data management system aiming to improve efficiency of online ride-hailing management platforms.
Changsha Yipeng has over a decade of experience in developing integrated AI-based information systems, big data, and cloud platforms for government and private entities in China, across a variety of sectors.
Pursuant to the Agreement, Changsha Yipeng will utilize Senmiao’s data (related to drivers, vehicles and riders) from its historical operating information, to develop an AI-backed data management system to facilitate the collection and analysis of data and ultimately provide online ride-hailing service providers with efficient and safe ways to operate their service vehicles. Along with the development of the project,, both parties will jointly seek necessary financing for its full development and deployment.
Xi Wen, Senmiao’s Chairman and Chief Executive Officer stated, “Following the recent sale of our online ride-hailing platform, we have been actively exploring ways to utilize the vast amount of data we have gathered over the years to generate new revenue sources for Senmiao. We are excited to be working with Changsha Yipeng towards the development of an advanced AI platform to achieve this goal.”
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
© 2025 Senmiao Technology Ltd. All rights reserved.
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