Uxin Reports Revenue Surge Amid Continued Operational Losses

The company’s retail transaction volume reached 16,530 units, a 119% year-over-year climb, though figures dipped sequentially due to the traditional Chinese New Year slowdown. CEO Kun Dai attributed the sustained growth to the performance of newer superstores in Wuhan, Zhengzhou, and Jinan, alongside established operations in Xi'an and Hefei. With the recent launch of a Tianjin facility, Uxin now operates six superstores and maintains a target for retail volume growth exceeding 100% for the full year.

Financial pressure remains a factor as the company navigates an accumulated deficit of 20 billion RMB. Operating losses widened to 66.6 million RMB, compared to 35.3 million RMB a year prior. CFO Feng Lin noted that the non-GAAP adjusted EBITDA loss of 34.3 million RMB reflects upfront costs associated with scaling the superstore model. While the company faces a liquidity gap where current liabilities exceed assets by roughly 156.1 million RMB, management expects operating leverage to improve as existing locations mature. Future expansion is already underway, with a new project in Chongqing expected to open later this year.