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Uxin Limited (Nasdaq: UXIN) is a pioneer and leader in China's used car industry, offering a comprehensive suite of services through its distinctive online and offline platforms. Founded with the mission to transform the used car market, Uxin provides a range of B2B, B2C, and C2B services under the brands Uxin Auction (优信拍) and Uxin Used Car (优信二手车). By leveraging its data-driven supply chain, Uxin enhances transaction transparency and efficiency, fostering trust and reliability in the market.
Uxin operates through mobile applications and websites, enabling seamless used car transactions and providing financing solutions via third-party partners. The company generates revenue from commissions on car sales, interest income from financial leases, and other value-added services.
Recently, Uxin has made significant strides in expanding its operational footprint. The company announced a substantial equity investment from Hefei Construction Investment North City Industrial Investment Co., Ltd. worth RMB1.5 billion over the next decade to support Uxin's new Changfeng Superstore. This sophisticated facility, covering 450,000 square meters, includes one of the world's most advanced used car reconditioning factories and a vast showroom capable of displaying up to 10,000 vehicles. It serves as a central hub for Uxin's regional and national expansion plans.
Despite financial challenges, including a decline in quarterly revenue and transaction volumes, Uxin continues to innovate and grow. The company reported a 35.6% increase in retail transaction volumes in Q2 FY2024, with enhanced inventory management and value-added services boosting gross margins significantly. Uxin aims to achieve EBITDA profitability at all superstores by March 2024 and company-wide profitability by September 2024.
Uxin's strategic initiatives and partnerships underline its commitment to becoming a leading player in the Chinese automotive aftermarket, with a focus on quality, customer satisfaction, and technological advancements.
Uxin (Nasdaq: UXIN), China's leading used car retailer, has announced a strategic partnership with Wuhan City Economic & Technological Development Zone. The company will establish a joint venture with Wuhan Junshan Urban Asset Operation Co., , a company indirectly controlled by the development zone.
Uxin's subsidiary, Uxin (Anhui) Industrial Investment Co., , will contribute RMB66.7 million (66.7% ownership), while Wuhan Junshan will contribute RMB33.3 million (33.3% ownership) to the joint venture. The partnership aims to support Uxin's plan to establish a new used car super store in Wuhan City, Hubei Province.
Wuhan, one of China's top ten cities, has a population of about 12 million, a GDP of approximately RMB2.0 trillion, and a car volume exceeding 4 million. This collaboration is important for Uxin to promote the development of the automotive aftermarket industry in Hubei Province and build a leading brand in China's used car industry.
Uxin (Nasdaq: UXIN), China's leading used car retailer, reported strong financial results for Q1 FY2025. Highlights include:
- Transaction volume increased 72.2% YoY to 5,605 units
- Retail transaction volume grew 142.4% YoY to 4,090 units
- Total revenues rose 38.8% YoY to RMB401.2 million (US$55.2 million)
- Gross margin improved to 6.4% from 6.1% in the same period last year
- Non-GAAP adjusted EBITDA loss narrowed to RMB33.9 million (US$4.7 million)
The company expects continued growth, forecasting retail transaction volume of 5,800-6,000 units and total revenues of RMB480-500 million for Q2 FY2025. Uxin also announced a strategic investment of US$7.5 million from Dida Inc., strengthening its financial position.
Uxin (Nasdaq: UXIN), China's leading used car retailer, has announced it will release its unaudited financial results for the first quarter of fiscal year 2025 ended June 30, 2024, on September 23, 2024, before the U.S. market opens. The company's management team will host a conference call on the same day at 8:00 A.M. U.S. Eastern Time to discuss the financial results. Participants must pre-register for the call using the provided link. A telephone replay will be available until September 30, 2024, and a live webcast and archive of the conference call will be accessible on Uxin's Investor Relations website.
Uxin (Nasdaq: UXIN), China's leading used car retailer, has entered into a memorandum of understanding (MOU) with Pintu (Beijing) Information Technology Co., , a subsidiary of Dida Inc. (HKEX: 2559), for a proposed investment of US$7.5 million. The investor intends to subscribe for 1,543,845,204 Class A ordinary shares at a price of US$0.004858 per share (US$1.4575 per ADS). The deal is subject to definitive agreements and closing conditions.
Additionally, the investor has agreed to extend a loan of US$7.5 million to Uxin's wholly-owned subsidiary, Youxin (Anhui) Industrial Investment Co., This strategic move could potentially strengthen Uxin's financial position in the competitive Chinese used car market.
Uxin (Nasdaq: UXIN), China's leading used car retailer, reported its unaudited financial results for the fourth quarter and fiscal year ended March 31, 2024. The company faced significant challenges due to competitive pricing strategies from car manufacturers, impacting profitability. However, China's used car market grew, with national transactions surpassing 18 million units in 2023, up nearly 15% YoY.
Uxin's used car superstores saw retail sales grow, with 10,179 units sold in fiscal 2024. Gross profit per vehicle increased, leading to a gross margin rise from 1.2% in FY 2023 to 5.9% in FY 2024. Despite a 33.2% decline in total revenues YoY to RMB 1,374.7 million (US$190.4 million), the loss from operations reduced by 12.4% to RMB 312.5 million (US$43.3 million). The adjusted EBITDA loss narrowed by 37.2% to RMB 176.1 million (US$24.4 million).
For fiscal 2025, Uxin aims to grow retail sales by 150%, achieve positive adjusted EBITDA by Q3, and expand its superstore network.
Uxin (Nasdaq: UXIN), China's leading used car retailer, has announced it will release its financial results for the fourth quarter and fiscal year 2024 ended March 31, 2024, on July 31, 2024, before the U.S. market opens. The company's management team will host a conference call on the same day at 8:00 A.M. U.S. Eastern Time to discuss the results.
Participants must pre-register for the call using the provided link. A live webcast and archive of the conference call will be available on Uxin's Investor Relations website. Additionally, a telephone replay of the call will be accessible until August 7, 2024, with dial-in details provided for both U.S. and international callers.
Uxin, a leading used car retailer in China, has announced a strategic partnership with Zhengzhou Airport Industry to form Uxin (Zhengzhou) Intelligent Remanufacturing Co., Uxin Anhui, a subsidiary of Uxin, will contribute RMB 120 million, while Zhengzhou Airport Industry will contribute RMB 50 million to the joint venture. This collaboration aims to establish a new used car superstore in Zhengzhou, bolstering Uxin's position in the automotive aftermarket industry within Henan Province. The strategic location and business-friendly environment of Zhengzhou Airport, along with local government support, are expected to significantly benefit Uxin's growth. Additionally, Uxin's advanced factories and digital capabilities will enhance its high-quality used car production and large-scale vehicle operations, aligning with its mission to elevate China's used car industry.
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