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Stock impact report

Senmiao Technology Announces New Cooperation Agreement with Leading E-commerce Platform for Servicing Major Cities of Chengdu and Guangzhou

Senmiao Technology Limited (AIHS)  More Company Research Source: PR Newswire
PDF CHENGDU, China, Sept. 14, 2021 /PRNewswire/ -- 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 signing of a new contract with Shanghai Lutuan Technology, an affiliate of Meituan (HK: 3690), China's leading e-commerce platform for services focused on its "Food + Platform" strategy. According to this new cooperation agreement, online ride-hailing requests and orders will be completed on Meituan's platform ("the major platform") utilizing Senmiao's network of cars and drivers for a set monthly fee. This new agreement will have no impact on drivers' incomes, and drivers' incentives will be paid by the major platform going forward. In August 2021, Senmiao leased cars and provided related services to approximately 1,200 drivers in Chengdu who operated their online ride-hailing businesses through the [Read more]
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