Trump announces trade deal with EU following months of negotiations
CHENGDU, China - Senmiao Technology Limited (NASDAQ:AIHS), whose stock has seen a strong 14% return over the past six months despite recent volatility, has entered into a strategic cooperation agreement with Changsha Yipeng Information Technology to develop an AI-backed data management system for online ride-hailing platforms, according to a press release issued Friday.According to InvestingPro analysis, Senmiao currently appears undervalued, with additional insights available through their comprehensive financial analysis tools.
The agreement calls for Changsha Yipeng to utilize Senmiao’s historical operating data related to drivers, vehicles, and riders to create a system aimed at improving efficiency and safety in ride-hailing operations.
Changsha Yipeng brings over ten years of experience developing AI-based information systems, big data, and cloud platforms for both government and private entities across various sectors in China.
The announcement comes after Senmiao’s recent sale of its online ride-hailing platform. Both companies will jointly seek financing for the full development and deployment of the project.
"We have been actively exploring ways to utilize the vast amount of data we have gathered over the years to generate new revenue sources for Senmiao," said Xi Wen, Senmiao’s Chairman and Chief Executive Officer, in the statement.
Senmiao Technology, headquartered in Chengdu, provides automobile transaction and related services in China, including automobile sales, financing facilitation, management, operating leases, and other automobile transaction services.
The company did not disclose financial terms of the agreement or provide a timeline for the system’s development and implementation. The company currently maintains a relatively low debt-to-capital ratio of 3%, though its current ratio of 0.37 suggests potential liquidity challenges ahead.
In other recent news, Senmiao Technology has entered into a strategic cooperation agreement with Qinhong International Group. This partnership will allow Senmiao to engage in Qinhong’s business operations across China, while Qinhong will assist Senmiao in securing funding through its financial institution connections. The collaboration is aimed at sharing resources to support both companies’ businesses, expand their customer base, and boost revenues. Qinhong, established in 2013, specializes in financing facilitation and loan consulting services for small and medium-sized enterprises in Southwest China. While the financial terms of the agreement were not disclosed, Senmiao’s Chairman and CEO, Xi Wen, expressed optimism about the growth and expansion opportunities this cooperation represents. The announcement highlights both companies’ intentions to utilize their existing business relationships and customer resources.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.