Senmiao Technology Limited announced that the Company's operating subsidiary Hunan Xixingtianxia Technology Co. Ltd., through its subsidiary Chengdu Xixingtianxia technology Co. Ltd., has signed a strategic cooperation agreement with Zhongfu Wuyou (Shenzhen) Technology Co.

Ltd. (Zhongfu Wuyou). Pursuant to the agreement, Zhongfu Wuyou will provide Senmiao with the necessary regulatory qualifications to operate its online ride-hailing platform in Shenzhen and other cities across the country. Senmiao will provide operational support for Zhongfu Wuyou in Shenzhen, including support and assistance in online ride-hailing platform technologies, system and driver management solutions for airport transportation services, chartered bus services, and intercity carpet services.

Senmiao and Zhongfu Wuyou expect to initiate strategic cooperation in the aforementioned areas where Zhongfu Wuyou has a business focus, as well as in smart manufacturing and new material technology development, innovation and development of new energy technology applications, development of a microgrid energy security management system. The two parties will also work together to accelerate local policy support in respective markets.