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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 prominent online used car dealer in China, will announce its third quarter fiscal year 2022 financial results on March 29, 2022, prior to U.S. market opening. The results encompass the period ending December 31, 2021. Management will conduct a conference call on the same day at 8:00 A.M. U.S. Eastern Time to discuss these results. Interested participants must register online to join the call. A replay will be available until April 5, 2022. Uxin continues to enhance its services, providing a vast selection of used cars and comprehensive aftersales support.
Uxin Limited (Nasdaq: UXIN) reported its unaudited financial results for Q3 2021, ending September 30. Transaction volume reached 3,648 units, a 21% increase from Q2 2021. Total revenues were RMB345.9 million (US$53.7 million), up 24.5% from the previous quarter and significantly higher than RMB76.4 million in Q3 2020. The gross margin rose to 4.2%, compared to 4.0% last quarter and negative 22.4% year-over-year. However, the company recorded a loss from continuing operations of RMB45.9 million (US$7.1 million), an improvement from RMB50.7 million last quarter and RMB162.6 million in Q3 2020.
Uxin Limited (Nasdaq: UXIN) will report its unaudited financial results for Q2 FY2022 on December 15, 2021. The results cover the period ending September 30, 2021. Management will host a conference call at 8:00 a.m. ET on that date. Participants must preregister online due to COVID-19 restrictions. A replay of the call will be available until December 22, 2021. Uxin, as a leading online used car dealer in China, aims to facilitate convenient car purchases through its digital platform, offering high-quality used cars and comprehensive aftersales services.
Uxin Limited (NASDAQ: UXIN) announced its inclusion in the MSCI Global Small Cap Index - China, effective after the U.S. market close on November 30, 2021. This milestone reflects Uxin's successful business transformation to an inventory-owning model. CFO John Lin stated this achievement highlights the company's commitment to innovation and customer-centric practices. The MSCI index, which consists of 254 constituents, represents approximately 14% of the China equity universe. Uxin aims to empower consumers to purchase quality used cars online efficiently.
Uxin Limited (Nasdaq: UXIN) announced its unaudited financial results for the quarter ended June 30, 2021. The company reported total revenues of RMB277.8 million (US$43.0 million), a significant increase from RMB62.2 million year-over-year. Transaction volume rose to 3,011 units, but decreased from 3,887 units in the same period last year. The gross margin improved to 4.0%, a recovery from negative 28.4% last year. Loss from continuing operations narrowed to RMB50.7 million (US$7.9 million) from RMB128.4 million last year. Uxin expects revenues between RMB310 million and RMB330 million for Q3 2021.
Uxin Limited (Nasdaq: UXIN), a top online used car dealer in China, will report its unaudited financial results for Q1 FY2022, ending June 30, 2021, on September 24, 2021, before U.S. market opening. A conference call hosted by management will occur on the same day at 8:00 a.m. ET. Due to COVID-19, pre-registration is required for participants. Uxin is focused on providing a wide selection of value-for-money used cars and comprehensive aftersales services to enhance consumer experience.
Uxin Limited (Nasdaq: UXIN), a leading online used car dealer in China, announced the filing of its annual report on Form 20-F for the fiscal year ending March 31, 2021, with the SEC on July 30, 2021. The report, accessible via the company's investor relations site and the SEC's website, includes audited consolidated financial statements. Uxin provides a nationwide selection of high-quality used cars, comprehensive aftersales services, and a convenient online purchasing experience, aiming to facilitate efficient car buying across China.
Uxin Limited (Nasdaq: UXIN) reported its fourth quarter and fiscal year results for the year ended March 31, 2021. Total revenues were RMB196 million (US$29.9 million), down from RMB322.9 million in the prior quarter. The company achieved a gross margin of 4.6%, up from 2.9% previously. For the fiscal year, revenues totaled RMB657.4 million (US$100.3 million), reflecting a decline from RMB1.36 billion the previous year. Uxin’s non-GAAP adjusted loss from continuing operations decreased by 40% to RMB98 million compared to the last quarter. With US$315 million in new funding, Uxin aims to strengthen its inventory-owning model and expand operations.
Uxin Limited (Nasdaq: UXIN) is set to announce its unaudited financial results for the fourth quarter and fiscal year 2021 on July 30, 2021. The results cover the period ending March 31, 2021. A conference call will follow at 8:00 a.m. U.S. Eastern Time. Due to COVID-19, preregistration is required for participants, and the details will be provided upon registration. A replay of the call will be accessible until August 6, 2021, and further information can be found on Uxin's Investor Relations webpage.
Uxin Limited (NASDAQ: UXIN) has successfully closed the first tranche of its financing transaction, raising US$100 million by issuing senior convertible preferred shares to NIO Capital and Joy Capital. Concurrently, convertible notes worth US$69 million were converted into Class A ordinary shares. The company has made significant changes to its Board of Directors, appointing four new members and seeing several resignations. Uxin aims to enhance its business development with this new board composition, following a pivotal business transformation.
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