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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) 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.
Uxin Limited (Nasdaq: UXIN), a top e-commerce platform for used cars in China, will release its unaudited financial results for Q1 FY2023 on September 30, 2022. A conference call is scheduled for the same day at 8:00 A.M. ET for management to discuss these results. Participants must register online for access details. A replay will be available until October 7, 2022. Uxin aims to provide quality vehicles and superior services through a hassle-free transaction process, establishing leadership through its omni-channel strategy and ten years of operational expertise.
Uxin Limited (Nasdaq: UXIN) announced the issuance of 36,699,029 Class A ordinary shares to ClearVue Uxin Holdings, Ltd for the full release of a $12.6 million convertible promissory note. This transaction extinguishes the ClearVue Note and reflects a share price of $1.03 per American Depositary Share (ADS). Uxin remains a leading e-commerce platform for used cars in China, committed to a customer-centric approach and leveraging its technology and data. The company aims to enhance its services while navigating the challenges of the evolving used car market.
Uxin Limited (Nasdaq: UXIN) reported its Q4 and fiscal year 2022 results, achieving total revenues of RMB1.64 billion, a remarkable 149% year-over-year growth. The transaction volume rose by 49% to 15,755 units, highlighting the success of its inventory-owning model. Despite COVID-19 impacts, retail transaction volume increased by 11.5% to 1,848 units in Q4. However, the gross margin saw a decline to 0.2% from 4.1% in the previous quarter, while the company incurred a loss of RMB109.5 million. Uxin plans to enhance brand recognition and operational efficiency in the upcoming fiscal year.
Uxin Limited (Nasdaq: UXIN), a top e-commerce platform for used cars in China, unveiled its first Environmental, Social and Governance (ESG) Report, focusing on sustainability and corporate responsibility. The report highlights Uxin's initiatives in carbon reduction, product responsibility, and consumer rights protection. Key efforts include enhancing vehicle quality, promoting new energy vehicles, and implementing a robust logistics system. Uxin emphasizes a commitment to integrating sustainable development into its operations, aiming for a positive impact on both business growth and the environment.
Uxin Limited (Nasdaq: UXIN), a prominent e-commerce platform for used cars in China, will announce its unaudited financial results for Q4 and FY 2022 on July 28, 2022. The results pertain to the period ending March 31, 2022. A conference call is scheduled for the same day at 8:00 A.M. Eastern Time to discuss these results. Participants can preregister online to receive access details. The call will also be available for replay until August 4, 2022, and a live webcast will be available on the Investor Relations section of Uxin’s website.
Uxin Limited (Nasdaq: UXIN) announced the issuance of 183,495,146 Class A ordinary shares to 58.com Holdings Inc. for the release of its obligations under a convertible promissory note. Each share was valued at $1.03 per American Depositary Share (ADS), effectively extinguishing the note and releasing both parties from historical claims. This strategic move enhances Uxin's financial standing, allowing the company to focus on its core business as a leading e-commerce platform for used cars in China.
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