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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 a strategic financing agreement with Nio Capital for the subscription of 714,285,714 senior convertible preferred shares, totaling US$100 million. This represents approximately 20% of Uxin's total issued ordinary shares post-transaction. The funds will primarily be allocated to developing a new Inspection and Reconditioning Plant in Hefei and enhancing capacity for quality used cars, aiming to support long-term growth.
Uxin Limited (Nasdaq: UXIN) has received a notification from Nasdaq indicating its American depositary shares (ADSs) have been trading below the minimum bid price of $1.00 for 30 consecutive business days. The company has until November 14, 2022, to regain compliance with the Nasdaq Listing Rules, which may be extended for an additional 180 days if necessary. Uxin assures that business operations remain unaffected and it will actively monitor its ADS price to meet compliance requirements.
Uxin Limited (Nasdaq: UXIN), a leading online used car dealer in China, announced a binding term sheet with shareholders Nio Capital and Joy Capital on May 16, 2022. The investors plan to subscribe to senior convertible preferred shares worth US$100 million, complementary to a prior financing of up to US$315 million announced in June 2021. The shares will be issued at US$0.23377 each, subject to definitive agreements to be signed by June 30, 2022. Uxin aims to enhance its online car buying experience through a comprehensive service platform.
Uxin Limited (UXIN) reported its Q3 FY2022 financial results, showing a significant rise in transaction volume and revenues. For the period ending December 31, 2021, transaction volume increased to 4,865 units, up 33.4% QoQ and 110.9% YoY. Total revenues reached RMB506.6 million (US$79.5 million), reflecting a 46.5% QoQ and 56.9% YoY growth. The gross margin was 4.1%, slightly lower than 4.2% in the previous quarter but improved from 2.9% YoY. Despite a loss from operations at RMB72.8 million (US$11.4 million), Uxin's operational metrics have shown resilience amid COVID-19 challenges.
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.
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