Senmiao Technology Launches Ride-Hailing Platform in Harbin, the Capital of Heilongjiang Province

CHENGDU,China,July 5,2022 --Senmiao Technology Limited ("Senmiao" or the "Company") (Nasdaq: AIHS),a financing and servicing company focusing 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 Harbin,the capital of Heilongjiang Province.

Senmiao launched its online ride-hailing platform in Harbin on June 30,2022. With the addition of Harbin,Senmiao's platform is now available in 21 cities across China,including six cities in Sichuan Province and 15 major cities in other provinces in China.

With a population of approximately 9.9 million,Harbin is the political,economic and cultural center in Northeast China and also a mega city coming first in the area of land under jurisdiction and coming third in registered population among the provincial cities in China. Harbin possesses rich historical,cultural and tourism resources,and is also known as the "Ice City" of China. Harbin is an international comprehensive transportation hub,an important industrial manufacturing base,and a central city for border development.

Xi Wen,Senmiao's Chairman and Chief Executive Officer,stated,"We are pleased to continue strengthening our partnership with Gaode Map (AutoNavi Software Co.,Ltd.) with the launch of our platform in Harbin,marking the eighth provincial city that Senmiao serves in China. Following our launch in Shenyang,this presents the growing opportunities for us to expand our business in Northeast China,and we look forward to providing quality online ride-hailing services to the people in Harbin. We expect to continue to launch our platform in other major cities with growth potential,which we anticipate will help improve cash flow in the coming quarters."

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 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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