Senmiao Technology Limited has signed a strategic cooperation agreement with Qinhong International Group to enhance business and financing opportunities.
Quiver AI Summary
Senmiao Technology Limited has announced a strategic cooperation agreement with Qinhong International Group, aimed at enhancing its business in the ride-hailing industry in China. Established in 2013, Qinhong specializes in providing financial services and support to small and medium-sized enterprises in Southwest China. Under this agreement, Senmiao will leverage Qinhong's extensive banking relationships to secure financing and expand its operations across China. Senmiao's Chairman, Xi Wen, emphasized that this partnership represents an opportunity for growth and resource sharing to benefit both companies. Senmiao is based in Chengdu and offers various automobile transaction services in China.
Potential Positives
- Senmiao signed a strategic cooperation agreement with Qinhong International Group, potentially expanding its business opportunities across China.
- The collaboration aims to leverage both companies' existing business relationships and customer resources, which may lead to increased market reach and revenue growth.
- Qinhong's assistance in securing financing could strengthen Senmiao's financial position, supporting its business plan and operational expansion.
- Senmiao's CEO expresses confidence that this partnership represents a new growth opportunity, signaling a strategic move towards business development.
Potential Negatives
- The reliance on Qinhong for financing support may indicate that Senmiao has limited access to capital or financial instability, raising concerns about its ability to independently fund its business operations.
- The partnership with Qinhong could suggest that Senmiao lacks the necessary resources or customer base to expand on its own, potentially reflecting weaknesses in its market position.
FAQ
What is the agreement between Senmiao and Qinhong?
Senmiao and Qinhong signed a strategic cooperation agreement to leverage their strengths and expand business opportunities across China.
How will the partnership benefit Senmiao?
The partnership will help Senmiao secure financing and expand its customer base, boosting revenues through shared resources.
What services does Senmiao Technology provide?
Senmiao provides automobile transaction services, including sales, financing facilitation, operating leases, and related services in China.
When was Senmiao Technology established?
Senmiao Technology was incorporated in 2013 and has been focused on the online ride-hailing industry since its inception.
Where is Senmiao Technology located?
Senmiao Technology is headquartered in Chengdu, Sichuan Province, China.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
CHENGDU, China, June 12, 2025 (GLOBE NEWSWIRE) -- Senmiao Technology Limited (“Senmiao” or the “Company”) (Nasdaq: AIHS) , a financing and servicing company focused on the online ride-hailing industry in China, today announced that it has signed a strategic cooperation agreement (the “Agreement”) with Qinhong International Group (“Qinhong”).
Since its incorporation in 2013, Qinhong has provided financing facilitation support, financial services referral and loan consulting services, primarily to small and medium-sized enterprises (“SMEs”) and other financial institutions in Southwest China.
Pursuant to the Agreement, leveraging both companies’ existing business relationships and customer resources, Senmiao will have the opportunity to participate in Qinhong’s business across China. Furthermore, Qinhong, relying on its extensive relationships with banks and other financial institutions, will assist Senmiao in securing financing to fund its business plan, when needed.
Xi Wen, Senmiao’s Chairman and Chief Executive Officer stated, “We believe the cooperation with Qinhong represents a new growth and expansion opportunity for Senmiao. Leveraging our combined strengths and expertise, we will be sharing resources to mutually support our businesses, expand customer base and boost revenues.”
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 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:
[email protected]
Phone: +86 28 6155 4399
© 2025 Senmiao Technology Ltd. All rights reserved.
