Uxin (UXIN) Registration Filing summary

Company overview and business model

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

• Focuses on providing a comprehensive transaction solution, including acquisition, inspection, reconditioning, warehousing, and after-sales services.

• Strategic partnerships and investments have expanded superstore operations in Xi'an, Hefei, Zhengzhou, and Wuhan, with significant production and showroom capacities.

• Transitioned from a VIE structure to direct ownership of PRC subsidiaries, streamlining compliance with evolving Chinese regulations.

• Customer satisfaction, measured by NPS, has improved significantly, reflecting enhanced service quality.

Financial performance and metrics

• For the quarter ended March 31, 2025, total revenues increased 58% year-over-year to RMB504.2 million (US$69.5 million), driven by a 72.8% rise in retail vehicle sales.

• Retail transaction volume grew 141.5% year-over-year, while gross margin improved to 7.0% from 6.6%.

• Net loss narrowed to RMB51.4 million (US$7.1 million) from RMB142.7 million in the prior year quarter.

• As of March 31, 2025, current liabilities exceeded current assets by RMB373.5 million, with an accumulated deficit of RMB19.6 billion.

• Management believes current cash, planned financings, and operational adjustments are sufficient to meet obligations for the next twelve months.

Use of proceeds and capital allocation

• Net proceeds from the sale of securities will be used as set forth in applicable prospectus supplements; no proceeds will be received from shares sold by selling shareholders.

• Recent capital contributions and equity financings have supported expansion and operational needs.