Senmiao Technology Limited announced that its subsidiary has entered into a strategic cooperation agreement with Xingyuan. Xingyuan is a leading company that offers financing solutions to major online ride-hailing platforms in China to purchase vehicles. Also, it offers to construct and manage battery swapping stations for new energy vehicles.
Under the agreement, Senmiao and Xingyuan will collaborate on vehicle financing. Xingyuan will provide financing solutions to Senmiao and its partners who are engaged in vehicle sales and purchases.
Senmiao will recommend Xingyuan to its online ride-hailing services partners so that they can access Xingyuan’s financing services to purchase vehicles. In addition, Xingyuan will offer Senmiao benefits such as preferential new energy vehicle procurement channels and battery swapping operations.
Xi Wen, Senmiao’s CEO commented, “We are delighted to establish a strategic partnership with Xingyuan, a company that has extensive expertise and resources in vehicle financing. We believe that the enhanced financing and operational support from Xingyuan will enable Senmiao to accelerate its growth in our vehicle rental business and online ride-hailing platform services by lowering the cost of acquiring new energy vehicles for drivers.”
Moreover, this news could boost the future AIHS stock price by enhancing the company’s revenue and profitability. Senmiao, which provides financing and operational services for online ride-hailing drivers in China and operates its own online ride-hailing platform, has partnered with Xingyuan, a leading vehicle financing company that also builds and manages battery swapping stations for new energy vehicles.
This partnership will allow Senmiao to access more financing options and operational support for its vehicle rental business and online ride-hailing platform services. This will help Senmiao to grow its customer base, increase its market share, and improve its service quality.
Furthermore, this will create more opportunities for Senmiao to expand its business and generate more income. As a result, Senmiao’s financial performance may improve and attract more investors, which will drive up its stock price.
Senmiao Chart at a Glance
The AIHS stock has been on a prolonged declining phase and is yet to show signs of recovery. Meanwhile, it tried to stabilize for a while, but it failed to hold the support level and dropped further. Even, the news did not have any positive effect on the chart and the price continued to fall as well.
Summary
The company announced that its subsidiary entered into a strategic cooperation agreement with Xingyuan. This news could boost the future AIHS stock price by enhancing the company’s revenue and profitability. This partnership will allow Senmiao to access more financing options and operational support for its vehicle rental business and online ride-hailing platform services. This will help Senmiao to grow its customer base, increase its market share, and improve its service quality. Moreover, the AIHS stock has been on a decline for a long time and has not shown any signs of recovery in share price.
Technical Levels
Support Levels: $0.20 and $0.15
Resistance Levels: $0.30 and $0.35
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/11/08/how-can-strategic-cooperation-deal-boost-revenue-for-senmiao/