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Uxin Limited (UXIN)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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1.3216-0.0784 (-5.60%)
As of 10:17AM EST. Market open.
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Previous Close1.4000
Open1.3200
Bid1.3400 x 1100
Ask1.3500 x 1400
Day's Range1.2500 - 1.3800
52 Week Range0.7200 - 3.1000
Volume2,870,683
Avg. Volume3,842,593
Market Cap451.23M
Beta (5Y Monthly)-0.77
PE Ratio (TTM)N/A
EPS (TTM)-5.7580
Earnings DateSep 08, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2.78
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  • GlobeNewswire

    Uxin’s Net Promoter Score (NPS) Increases to 30 during Quarter Ended September 30, 2020

    BEIJING, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading nationwide online used car dealer in China, recently announced that the Net Promoter Score (NPS) from its latest survey increased to 30 for the quarter ended September 30, 2020 from 10 for the quarter ended June 30, 2020. The increase in NPS indicates improving customer satisfaction and growing trust in the Uxin brand as the Company enhances overall customer experience and offers quality value-for-money used cars and best-in-class purchasing services. The survey nets percentages of promoters for Uxin’s products and services (those who will keep buying and refer Uxin to others) against detractors (those who are unhappy with and complain about Uxin’s offerings) for a Net Promoter Score, or NPS. In the September quarter, the percentage of promoters increased to 52%, while the percentage of detractors decreased to 22%.Uxin focused on three initiatives during the September quarter to drive enhancements in customer experience and satisfaction. First, The Company addressed used car quality and condition by adopting stricter standards in selecting and inspecting cars. Not only have these standards enhanced the quality of its overall used car inventory, but they also lowered the rate of car returns and claims due to quality-related issues. Uxin also introduced new car detailing and reconditioning services to ensure the car’s like-new condition, consistently offering customers a more attractive alternative to buying a new car that offers great value. Second, Uxin refined their on-demand service delivery. Uxin introduced an innovative way to set up WeChat service groups between customers and Uxin sales and service personnel. Once a customer decides to purchase a used car from Uxin and places the order, this service feature offers continuous access to support and convenient communication throughout the entire process of purchasing and driving the used car. Third, Uxin shortened the waiting period between initial ordering and final delivery of cars. The Company optimized the entire fulfillment process, including execution of more timely title transfers, once customers have placed orders.Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin, said, “Used cars are big-ticket items and often purchased once every few years. Consumers in China find that the purchasing process is often complex and too frustrating, and it is difficult to get consistent, convenient, and high-quality service. As a result, many customers rely heavily on trust, making positive word-of-mouth referrals critical for expanding our customer base. As is the case in the US market, we believe online platforms are the most cost-effective and efficient way to buy used cars in China, and the most feasible way to add value in the way we service our customers. In addition to our standard Key Performance Indicators (KPIs) for volume growth, we are focusing more intently on customer satisfaction and brand loyalty, with the NPS score as one measure. Transaction volume will increase with stronger brand recognition and customer referrals, and while this approach may take time, we believe that it is key to sustainable growth. Looking ahead, we will continue to enhance the quality of used cars as well as our online product and service offerings throughout the entire transaction process to maximize value for our customers.”About Uxin Uxin Limited (Nasdaq: UXIN) is a leading nationwide online used car dealer in China. With its offerings of high-quality used cars and premium services, Uxin’s mission is to enable people to buy the car of their choice online. Uxin’s one-stop online shopping mall provides consumers with a nationwide selection of value-for-money used cars, various value-added products and services as well as comprehensive aftersales services. Its online sales consultants offer professional consulting to facilitate a convenient and efficient car purchase for consumers in a timely fashion. Its comprehensive fulfillment network supports nationwide logistics and delivery as well as title transfers between different cities across China so as to fulfill these online transactions.Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Uxin’s goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin’s expectations regarding demand for, and market acceptance of, its services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China’s used car e-commerce industry; the laws and regulations relating to Uxin’s industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.For investor and media enquiries, please contact: Nancy Song Uxin Investor Relations Tel: +86 10 5691-6765 Email: ir@xin.comEric Yuan Christensen Tel: +86 10 5900 1548 Email: uxin@christensenir.com

  • GlobeNewswire

    Uxin Launches Proprietary Used Car Rating System

    BEIJING, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading nationwide online used car dealer in China, recently launched a proprietary rating system that assesses and determines a used car’s condition, provides greater transparency to facilitate the decision-making process for customers and improves the overall customer experience. Uxin has been dedicated to offering customers great value-for-money used cars and a best-in-class car buying experience by continuously upgrading its online products and services. After the Company transformed and migrated its entire transaction process online in April of this year, it set out to develop a used car rating system in order to further improve the buying experience. By leveraging its big data analytics capabilities, Uxin built a proprietary car rating system by analyzing the massive used car-related data that has been aggregated by its platform over the years, such as car age, mileage, exterior and interior condition, driving and operating conditions, and the correlation between such metrics and pricing. Now, when customers search for used cars on Uxin’s mobile application or website, they will find a “like-new” score placed on each car that delivers a straightforward reading of the car’s condition and enables the easy comparison of different used cars on a customer’s short list.In addition to the rating system, Uxin also created a team of vehicle experts to handpick used cars from a national pool. On the profile page of all cars, there is also a recommendation that has been compiled by Uxin’s professionals to specify why the car would be worth buying.(“Like-new” tag with each car; and purchase recommendation by Uxin vehicle expert on car profile page)Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin, said, “Providing timely transparency on the quality of our cars and their value-for-money profiles are key to earning trust in our brand and generating word-of-month referrals, which is the foundation for the long-term growth of our business. With the help of our rating system that grades a used car’s condition compared with a brand new one, we have been able to upgrade the buying experience for users of our platform by creating a more intuitive sense of the quality of the car that they are getting for the money. Our commitment is to provide quality value-for-money used cars, and we have always been guided by the idea that we only want to sell a car to our customers that we would also sell to our most loved friends and family. We believe this philosophy is the best way to achieve sustainable success.”About Uxin Uxin Limited (Nasdaq: UXIN) is a leading nationwide online used car dealer in China. With its offerings of high-quality used cars and premium services, Uxin’s mission is to enable people to buy the car of their choice online. Uxin’s one-stop online shopping mall provides consumers with a nationwide selection of value-for-money used cars, various value-added products and services as well as comprehensive aftersales services. Its online sales consultants offer professional consulting to facilitate a convenient and efficient car purchase for consumers in a timely fashion. Its comprehensive fulfillment network supports nationwide logistics and delivery as well as title transfers between different cities across China so as to fulfill these online transactions.Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Uxin’s goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin’s expectations regarding demand for, and market acceptance of, its services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China’s used car e-commerce industry; the laws and regulations relating to Uxin’s industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.For investor and media enquiries, please contact: Nancy Song Uxin Investor Relations Tel: +86 10 5691-6765 Email: ir@xin.comEric Yuan Christensen Tel: +86 10 5900 1548 Email: uxin@christensenir.com

  • Former Chinese Tech Unicorn Could Now Sell For Just Over $1,000
    Bloomberg

    Former Chinese Tech Unicorn Could Now Sell For Just Over $1,000

    (Bloomberg) -- Renrenche was one of China’s hottest tech unicorns backed by investors including Goldman Sachs Group Inc. and Tencent Holdings Ltd. Now the car website could sell itself for a little over $1,000.The Beijing-based startup -- which had a pre-money valuation of $1.4 billion in a financing round just two years ago -- has a preliminary plan to sell its major assets to 58.com Inc. for HK$10,000 ($1,290), according to people familiar with the matter. China’s online classified ad leader will take over Renrenche’s Hong Kong entity, while offering at least $4 million in loans to its mainland operations, said the people, asking not to be identified because the transaction is private. The parties have yet to finalize the deal and may not proceed with it, the people said.A representative for Renrenche declined to comment but said the contents of an emailed query sent to the company was inaccurate, without elaborating.The deal may help bail out the car trading platform, which ran into financing troubles amid the unraveling of China’s once-booming sharing economy. Founded in 2014, Renrenche connects users seeking to trade second-hand vehicles, taking a smaller cut than offline dealers. Its backers include ride-hailing giant Didi Chuxing, as well as venture firms like Shunwei Capital and Redpoint China. In 2018, it completed a $300 million investment round led by Goldman Sachs, according to a company statement.But competition with rivals like Uxin Ltd. and Softbank Vision Fund-backed Guazi.com -- coupled with business disruptions during the Covid-19 pandemic -- quickly dried up funding for Renrenche. One of its creditors, Argyle Street Management Ltd., is seeking a winding-up order in a court in the Cayman Islands, where Renrenche is registered, on the grounds that the company was unable to pay back roughly $15 million in debts, according to a court filing viewed by Bloomberg News.That petition may complicate the transaction with 58.com. The deal was rejected by some investors but won key support from Tencent and Didi during a shareholder meeting last week, according to the people. Investors are still looking into other options to resolve Renrenche’s liquidity crisis, said the people.Renrenche’s representative was responding to an email that included questions on the HK$10,000 offer by 58.com as well as the loans, and that the deal had won backing from Tencent and Didi. The representative didn’t specify what was inaccurate. 58.com didn’t respond to requests for comment, while spokespeople at Tencent and Didi declined to comment.If the firesale goes through, it would mark one of the more spectacular startup failures since China’s internet boom kicked off a decade ago. Renrenche’s rapid fall echoed high-profile failures when mini-bubbles popped, like Mobike or Ofo in bike-sharing, but those have been rarities given sustained growth in smartphone and internet adoption.58.com, often billed as China’s answer to Craigslist, also counts Tencent among its backers. In June, the online classified portal agreed to a buyout deal at about an $8.7 billion value, joining a slew of Chinese firms to ditch their U.S listings.(Updates with reply from Renrenche’s representative in third and seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.