Senmiao Technology Announces Business Cooperation with Ctrip Affiliate

CHENGDU,China,May 20,2022 -- 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 its wholly-owned subsidiary Hunan Xixingtianxia Technology Co.,Ltd. ("XXTX") has entered into an agreement with Shanghai Huacheng Southwest International Travel Agency Co.,Ltd.,a wholly-owned affiliate of Trip.com Group Limited ("Trip.com") (Nasdaq: TCOM),a leading online travel agency and travel service provider in China.

Pursuant to the terms of the agreement,XXTX will provide online ride-hailing services for clients of Trip.com. XXTX has the necessary legal and logistical licenses in place to engage in providing online ride-hailing services such as booking of airport/train station pick-up/drop-off,chartered services and other forms of passenger transportation. XXTX will have access to customers utilizing Trip.com's online platforms including but not limited to www.ctrip.com,www.trip.com and other related websites/mobile channels. Trip.com will provide platform customers with reservation services for booking XXTX's services.

This new business cooperation launched in Senmiao's key cities of Chengdu,Guangzhou and Changsha on May 17,2022.XXTX expects to expand its cooperation with Trip.com to additional cities in China in the future.

Xi Wen,Chairman,Chief Executive Officer and President of Senmiao,stated,"We are pleased that Trip.com has chosen to partner with Senmiao for its online ride-hailing and passenger transportation service needs. As the largest online travel service provider in China,their confidence in our ability to serve their significant population of customers is a testament to our platform and its capabilities. We are thrilled to be serving Trip.com customers in our three key cities of Chengdu,Guangzhou and Changsha,and look forward to working closely with Trip.com going forward."

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,as well as operates its own ride-hailing platform aimed principally at the growing online ride-hailing market in Senmiao's areas of operation 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

Investor Relations:

The Equity Group Inc. In China

Carolyne Sohn,Vice President Lucy Ma,Associate

+1 415-568-2255 +86 10 5661 7012

csohn@equityny.com lma@equityny.com

© 2022 Senmiao Technology Ltd. All rights reserved.

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