Senmiao Technology Launches Ride-Hailing Platform in Suzhou, A Major City in Jiangsu Province

CHENGDU,China,Nov. 30,2021 --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 the launch of its proprietary online ride-hailing platform for drivers in Suzhou,China.

With the launch in Suzhou,Senmiao's platform is now available in 12 cities across China,six cities in Sichuan Province and six major cities in other provinces in China. With a population of approximately 12.7 million,Suzhou is recognized as one of the important central cities in the Yangtze River Delta by the State Council of China. Located just west of Shanghai,Suzhou is a national high-tech industrial base and a popular tourist destination known for its scenic canals,bridges and classical gardens.

Xi Wen,Senmiao's Chairman and Chief Executive Officer,stated,"We are pleased to continue the rapid expansion of our partnership with Gaode Map with the launch of our online ride-hailing platform in Suzhou just a few weeks after launching in Xuzhou. Given Suzhou's proximity to Shanghai,the city is well-traveled,making online ride-hailing an increasingly common method of everyday transportation. We look forward to establishing a foothold in these major cities of Jiangsu province as we explore additional cities for expansion opportunities."

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,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 4399Investor 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© 2021 Senmiao Technology Ltd. All rights reserved.

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