Senmiao Technology Signs a Strategic Cooperation Agreement with Changsha Yipeng to Develop an AI-Backed Data Management System for Online Ride-Hailing Service Providers

Rhea-AI Summary

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. The collaboration leverages Changsha Yipeng's decade-long expertise in AI-based information systems and Senmiao's historical operational data from drivers, vehicles, and riders. This initiative follows Senmiao's recent sale of its online ride-hailing platform, representing a strategic pivot to monetize their accumulated data. The system aims to enhance efficiency and safety in ride-hailing operations, with both companies planning to jointly secure financing for the project's development and implementation.

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

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.

FAQ

What is the purpose of Senmiao Technology's (AIHS) new AI partnership with Changsha Yipeng?

The partnership aims to develop an AI-backed data management system to improve efficiency and safety in online ride-hailing operations by utilizing Senmiao's historical operational data.

How will AIHS monetize its ride-hailing data after selling its platform?

Senmiao plans to monetize its historical driver, vehicle, and rider data through the development of an AI-backed management system in partnership with Changsha Yipeng.

What experience does Changsha Yipeng bring to the AIHS partnership?

Changsha Yipeng brings over a decade of experience in developing integrated AI-based information systems, big data, and cloud platforms for government and private entities in China.

How will the new AI system be funded for AIHS and Changsha Yipeng?

Both companies will jointly seek necessary financing for the full development and deployment of the AI-backed data management system.

What type of data will be used in AIHS's new AI management system?

The system will utilize Senmiao's historical operating information related to drivers, vehicles, and riders from its previous ride-hailing platform.