Uxin (UXIN) Q2 2025 earnings summary

Executive summary

• Retail transaction volume reached 6,005 units, up 47% sequentially and 163% year-over-year, with total transaction volume at 7,046 units, up 25.7% sequentially and 81.4% year-over-year.

• Gross profit margin improved to a record 7% since transitioning to a self-operated business, up from 6.4% last quarter and 6.2% a year ago.

• Customer satisfaction led the industry for 11 consecutive quarters, with Net Promoter Score rising to 66.

• Recognized as a corporate standard leader in China's used car industry by eight government ministries.

• Expansion into new regions with superstore openings in Zhengzhou and Wuhan is expected to drive future growth.

Financial highlights

• Retail vehicle sales revenue was RMB 444.4 million, up 36.8% sequentially and 78.5% year-over-year; total revenues for the quarter were RMB 497.2 million, up 23.9% sequentially and 39.6% year-over-year.

• Average selling price dropped from RMB 109,000 to RMB 74,000 year-over-year, offset by higher volume.

• Wholesale transaction volume was 1,041 units, down 31% sequentially and 35% year-over-year; wholesale revenue was RMB 37.8 million, with wholesale vehicle sales revenue declining 40.8% sequentially and 61.9% year-over-year.

• Adjusted EBITDA loss was RMB 9.2 million, a 73% reduction quarter-over-quarter and 80% year-over-year.

• Cash and cash equivalents stood at RMB 29.1 million as of September 30, 2024.

Outlook and guidance

• Q4 2024 retail transaction volume expected to reach 7,800–8,100 units, with total revenues projected at RMB 560–580 million.

• Company aims to achieve positive Adjusted EBITDA in Q4 2024.

• Retail transaction volume for Q4 2024 is expected to be over 150% year-over-year growth.