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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 Limited (Nasdaq: UXIN), a leading used car e-commerce platform in China, announced that NIO Capital has met its payment obligations, totaling $80 million, for its subscription of senior convertible preferred shares. This commitment is part of a $100 million agreement established in June 2022. Additionally, Uxin fulfilled all payment obligations under a convertible promissory note amounting to $61.6 million, initially issued in June 2019 and revised in June 2021. Uxin is focused on enhancing its market presence through superior customer experience and operational capabilities in the used car sector.
Uxin Limited (Nasdaq: UXIN), a leading used car e-commerce platform in China, has announced the rescheduling of its earnings release for Q3 FY 2023, initially set for March 31, 2023. The new release date is April 11, 2023. This delay aims to finalize arrangements that could significantly enhance the company's financial standing. Additionally, a conference call will occur on the same day at 8:00 A.M. U.S. Eastern Time to discuss these results. Uxin focuses on providing quality vehicles and excellent service through its comprehensive online platform combined with physical inspection centers.
Uxin Limited (Nasdaq: UXIN), a leading Chinese e-commerce platform for used cars, will release its unaudited financial results for Q3 FY2023, ending December 31, 2022, on March 31, 2023, before U.S. market open. A conference call will follow at 8:00 A.M. ET the same day. Participants must preregister via a provided link to receive access details. A replay of the call will be available until April 7, 2023. Uxin continues to strengthen its market position using its online platform and offline centers, aiming for superior customer service and industry leadership.
Uxin Limited (Nasdaq: UXIN) reported its Q2 financial results for the period ending September 30, 2022, revealing total revenues of RMB618.8 million (US$87.0 million), a slight decrease of 1.2% from the previous quarter but a substantial 78.9% increase year-over-year. Transaction volume rose to 6,050 units, up 10.5% sequentially and 65.8% annually. Retail transaction volume hit 3,109 units, reflecting a 29.2% quarter-over-quarter increase and 202.7% year-over-year growth. The gross margin was 1.3%, while the loss from operations reached RMB106.4 million (US$15.0 million).
Uxin Limited (UXIN) will report its unaudited financial results for Q2 FY2023, ending September 30, 2022, before U.S. markets open on December 30, 2022. A conference call will follow at 8:00 A.M. ET on the same day, allowing management to discuss the financial results. Participants need to preregister via the provided link to receive access details. A replay of the call will be available until January 6, 2023. Uxin continues to be a leader in China’s used car e-commerce market, focusing on customer-centric services and innovative technology.
Uxin Limited (Nasdaq: UXIN) has upgraded its Xi’an Inspection and Reconditioning Center (IRC) and superstore, establishing it as the largest self-owned used car marketplace in Northwest China. The new IRC, expanded to 150,000 square meters, includes a reconditioning factory with a capacity of 40,000 units annually and a superstore accommodating 3,000 vehicles. This digitized facility offers enhanced operational efficiency and various customer services at a single location, marking a significant milestone in Uxin’s strategy to lead the transformation of China's used car industry.
Uxin Limited (Nasdaq: UXIN) announced on November 14, 2022, that it has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The Company was previously notified of non-compliance due to a share price below the threshold for 30 consecutive business days. Uxin adjusted the ratio of its American Depositary Shares (ADSs) to address this issue, effective October 28, 2022. Following this change, Nasdaq confirmed compliance as the stock price met the requirement for ten consecutive business days.
Uxin Limited (Nasdaq: UXIN), a premier Chinese e-commerce platform for used cars, announced a significant change in its American Depositary Shares (ADS) ratio. The new ratio will convert one ADS into thirty Class A ordinary shares, essentially implementing a one-for-ten reverse ADS split. This adjustment will take effect on October 28, 2022, with anticipated proportional increases in the ADS price. No action is required from ADS holders, and the change will not affect the underlying Class A ordinary shares.
Uxin Limited (UXIN) reported strong Q1 results for the period ending June 30, 2022, with total revenues of RMB626.2 million ($93.5 million), marking a 23.8% increase quarter-over-quarter and 125.4% year-over-year. Retail transaction volume surged to 2,407 units, up 30.2% from the previous quarter. However, gross margin decreased to 1.1%, down from 4.0% a year earlier, due to a shift towards mid-range vehicles. The company projects retail transaction volume of approximately 3,000 units and total revenues between RMB590 million to RMB610 million for Q2 2022.
Uxin Limited (Nasdaq: UXIN) announced that NIO Capital has made further payments for its subscription of senior convertible preferred shares. The total investment is US$100 million for 714,285,714 shares, with installments scheduled over time. This follows the initial issuance of shares on July 27, 2022, when the first installment was received. Uxin continues to lead in the Chinese used car e-commerce market, focusing on customer-centric services through both online and offline channels.
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