Senmiao Technology Appoints David Nichols as Strategic

Veteran Infrastructure Finance and Carbon Markets Executive Brings Public Company Leadership, Hyperscale Data Center Development, and Capital Markets Structuring Expertise to AIHS Growth Platform

Chengdu, China, April 23, 2026 (GLOBE NEWSWIRE) — Senmiao Technology Limited (“Senmiao” or the “Company”) (Nasdaq: AIHS) today announced the appointment of David Nichols as Strategic Advisor, effective immediately. In this role, Mr. Nichols will drive the Company’s business development and strategic execution across its AI data center solutions, digital infrastructure, and new energy initiatives, with a particular focus on power infrastructure origination, capital formation, and institutional partnerships.

Mr. Nichols joins Senmiao with more than 25 years of experience at the intersection of global energy markets, infrastructure development, and capital markets. His appointment marks a significant addition to Senmiao’s leadership team as the Company accelerates its transition toward next-generation digital infrastructure opportunities tied to the rapidly expanding demand for AI computing capacity.

“David brings precisely the expertise we need at this stage of our evolution,” said Haitao Liu, Chief Operating Officer of Senmiao Technology. “The convergence of AI, data infrastructure, and new energy is defining the next decade of value creation in the technology sector, and David has spent years operating at that intersection, developing large-scale data center campuses, structuring complex energy supply solutions, and building institutional capital relationships. His addition positions Senmiao to pursue meaningful opportunities in this space with credibility and execution capability.”

He previously served as Chief Strategy Officer of AppHarvest (Nasdaq: APPH), a publicly traded sustainable infrastructure developer, where he was a founding executive who co-led the SPAC transaction that resulted in the company’s Nasdaq listing and $575 million capital raise. During his tenure at AppHarvest, he supported the Board of Directors on governance and capital markets strategy, led engagement with institutional investors and equity research analysts, and directed deployment of more than $1.2 billion in sustainable infrastructure investment.

In addition to his public company experience, Mr. Nichols has been actively involved in the development of large-scale AI data center infrastructure, including originating and structuring powered land and energy development projects that integrate hyperscale data center campuses with dedicated power infrastructure, including natural gas generation, utility-scale solar, battery energy storage systems (BESS), and high-voltage grid interconnections. He has worked to secure multi-hundred-megawatt power capacity arrangements and develop integrated power solutions capable of supporting gigawatt-scale computing infrastructure, with established partnerships with major data center developers and institutional investment firms.

Earlier in his career, Mr. Nichols founded Pangea Capital Partners, an environmental finance and infrastructure development firm through which he financed and developed more than 30 carbon credit projects across Asia under the Kyoto Protocol and voluntary carbon markets, working with Goldman Sachs, Credit Suisse, and the United Nations on early carbon market methodologies.

“Senmiao’s positioning at the nexus of AI technology, digital services, and new energy creates a genuine opportunity to participate in one of the most capital-intensive infrastructure build-outs in modern history,” said Mr. Nichols. “I look forward to applying my background in infrastructure development, capital markets structuring, and energy systems to help the Company pursue high-quality opportunities and deliver value to shareholders.”

Mr. Nichols holds an MBA in Finance from Columbia Business School and a B.S. in Environmental Science from the University of Delaware. He currently serves on the board of the Ohio State ADVANCEA Research Center and advises several clean technology companies.

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. 

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 are subject to significant risks, uncertainties, and assumptions, including those detailed from time to time in 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: edom333@ihongsen.com
Phone: +86 28 6155 4399

Investor Relations:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com