Uxin (UXIN) Registration Filing summary

Company overview and business model

• Operates as a leading used car retailer in China, utilizing an inventory-owning model and omni-channel sales approach integrating online and offline superstores.

• Offers comprehensive transaction solutions, including acquisition, inspection, reconditioning, warehousing, and after-sales services.

• Expanded with large-scale superstores in Xi'an and Hefei, with further plans for a Zhengzhou superstore, supporting nationwide sales and supply chain control.

• Corporate structure is a Cayman Islands holding company with operations primarily through PRC subsidiaries; historical VIE arrangements were terminated in March 2022.

Financial performance and metrics

• Not profitable and has negative cash flows from operations, with substantial doubt as to ability to continue as a going concern.

• Revenues from former VIEs were immaterial, accounting for 0.1% of total revenues for the fiscal year ended March 31, 2022.

• Cumulative losses have been incurred since inception; no intention to pay dividends or distribute earnings.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as set forth in applicable prospectus supplements; no proceeds from selling shareholders.

• Recent capital contributions from Hong Kong subsidiaries to PRC subsidiaries for operational expansion and superstore development.