Senmiao Technology (AIHS) Announces Business Cooperation with Ctrip Affiliate

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."

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