Senmiao Technology Limited to Hold Annual Meeting of Stockholders on November 8, 2018

CHENGDU,China,Sept. 29,2018 -- Senmiao Technology Limited ("Senmiao" or the "Company") (NASDAQ: AIHS),an online lending platform in China connecting investors with individual and small-to-medium-sized enterprise borrowers,today announced that the Company's Annual Meeting of Stockholders for the fiscal year ended March 31,2018 (the "Meeting") will be held at 11:00 a.m. Beijing Time on Thursday,November 8,2018,which is 10:00 p.m. ET on November 7,at the Company's headquarters office at 16F,Shihao Square,Middle Jiannan Boulevard,High-Tech Zone,Chengdu,Sichuan,China 610000. The matters to be voted on at the Meeting are set forth in Semiao's proxy statement,which was filed today with the U.S. Securities and Exchange Commission. Stockholders who owned shares of common stock of the Company as of the close of business on September 24,the record date,are entitled to vote at the Meeting.

Additional information relating to the Meeting can be found in Senmiao's proxy statement for the Meeting.

About Senmiao Technology Limited

Headquartered in Chengdu,Sichuan Province,Senmiao operates an online lending platform,www.ihongsen.com,that connects Chinese investors with individual and small-to-medium-sized enterprise borrowers. For more information about the Company,please visit: www.ihongsen.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the the Meeting described in this press release,plans,objectives,goals,strategies,future events or performance,and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may,"will,"intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters,it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including,but not limited to,the following: the risk that the Meeting may not be held as planned; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons,among others,investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission,which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward‐looking statements to reflect events or circumstances that arise after the date hereof.

For more information,please contact:

At the Company:

Julie Zhu

Email: julie@ihongsen.com

Phone: +86-181-9085-0098

Investor Relations:

Tony Tian,CFA

Weitian Group LLC

Email: ttian@weitianco.com

Phone: +1-732-910-9692

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