Senmiao Technology (AIHS) Announces Approximately 1.8 Million Completed Rides on its Ride-Hailing Platform in April 2021

Senmiao Technology Limited ("Senmiao") (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 operating metrics for its proprietary online ride-hailing platform for the month of April 2021. From March 2021 to April 2021, the growth rate of the number of completed orders was approximately 16%, and the growth rate of the number of drivers completing rides via the platform (known as Active Drivers) was approximately 44%.

Since the launch of Senmiao's online ride-hailing platform in Chengdu in October 2020, in Changsha in December 2020, in Neijiang in January 2021, and in Guangzhou at the end of March 2021, over 6.2 million rides have been completed using the platform, including approximately 1.8 million rides during April 2021. The average monthly growth rate of the number of completed orders and Active Drivers during the four months ended April 30, 2021, was approximately 39% and 39%, respectively. Approximately 9% of the completed orders generated during April 2021 originated from the newly launched city of Guangzhou, demonstrating the successful ramp of Senmiao's platform.

The table below presents approximate unaudited operating metrics of Senmiao's online ride-hailing platform since its launch in October 2020.

In addition, at the end of April 2021, approximately 11% of Active Drivers also leased automobiles from Senmiao, which demonstrates the added value brought by Senmiao's strategy to cross sell its core ride-hailing focused automobile finance and leasing business with the newer ride-hailing business.

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