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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 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.
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.