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Uxin Limited (UXIN)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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1.0000-0.0600 (-5.66%)
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Previous Close1.0600
Open1.0500
Bid0.0000 x 34100
Ask0.0000 x 39400
Day's Range0.9900 - 1.0500
52 Week Range0.7200 - 3.8000
Volume3,960,415
Avg. Volume2,608,643
Market Cap341.427M
Beta (5Y Monthly)-0.71
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 Est3.70
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  • 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.

  • GlobeNewswire

    Uxin Raises US$25 Million in Two Private Placements

    BEIJING, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading national online used car dealer in China, today announced that it has separately entered into definitive agreements with two investors, pursuant to which Uxin will issue and sell an aggregate of 84,692,839 Class A ordinary shares to these investors through private placements for an aggregate purchase price of approximately US$25,000,000 (the “Private Placements”). The closings of the Private Placements are subject to customary conditions and are expected to occur in October 2020. In addition, the Company entered into a letter agreement (the “Letter Agreement”) with affiliates of Warburg Pincus, TPG and 58.com (collectively, the “Strategic Investors”) to adjust the conversion price of the convertible notes in an aggregate principal amount of US$230 million issued to the Strategic Investors in June 2019. Pursuant to the Letter Agreement, in the two years immediately after the date of the Letter Agreement, if the Company issues or sells any equity securities for a price per ordinary share (the “New Issue Price”) that is less than the conversion price of the convertible notes, the Strategic Investors shall have the right to convert all or part of the outstanding convertible notes that they hold into Class A ordinary shares of the Company at a conversion price that is equal to the New Issue Price. The share conversion, if any, shall be completed substantially concurrently with the consummation of such issuance or sale of equity securities.Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin, said, “We are pleased to receive investments from these two leading international investors. With our auto financing-related guarantee liabilities and credit risk behind us, we have shifted our strategic focus to a new phase of development where we offer high-quality value-for-money used cars and best-in-class car purchasing services to our customers. We are happy to see that these investors support our strategic direction and long-term growth trajectory. With their support and our business transformation and upgrade in place, we are confident that we will be able to strengthen our market position as China’s leading national online used car dealer.”About Uxin Uxin Limited (Nasdaq: UXIN) is a leading national 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