Uxin’s second-quarter revenue rose 75% year over year to RMB 1.51 billion, with retail transactions up 89% to 19,610. Gross margin fell to -0.7% from 5.2% a year earlier; management forecast Q3 revenue of RMB 1.16 billion–1.19 billion and gross margin above 6%.
Management linked the margin decline to rapid price adjustments in new cars, particularly internal-combustion models, which hit margins on existing inventory; Uxin said it accelerated sales of affected cars. The company posted an adjusted EBITDA loss of RMB 120 million and forecast 20,500–21,000 retail transactions in Q3, nearly 50% above a year earlier.
Uxin said it had received $4 million from NIO Capital, which confirmed it would proceed with a further $4 million investment at $2.86 per ADS while advancing an overseas direct-investment filing. CEO Dai Kun said an entity he controls had set a plan to buy up to $5 million of Uxin ADSs at no more than $2.85 each; purchases would be eligible to begin Sept. 28 after a 90-day cooling-off period and would follow the preset plan and trading rules.
