Welcome to our dedicated page for Uxin Ltd. news (Ticker: UXIN), a resource for investors and traders seeking the latest updates and insights on Uxin Ltd. stock.
Uxin Limited reports recurring developments as a China-based used car retailer with Nasdaq-listed ADRs under UXIN. News centers on unaudited operating and financial results, retail vehicle sales, gross margin trends, and other revenue from its used-car transaction model.
Company updates also cover Uxin's omni-channel retail strategy, online platform, offline superstores, in-house inspection and reconditioning capabilities, warehousing, vehicle display and sale, and after-sales services in China. Recurring announcements include superstore openings, regional expansion, strategic partnerships, financing and capital-structure disclosures, and governance matters.
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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