Financial Data and Key Metrics Changes - In Q4 2024, the company achieved a positive adjusted EBITDA for the first time on a quarterly basis, compared to an adjusted EBITDA loss of RMB 43.8 million in the same period last year [18] - Gross margin improved from 4.8% in Q4 2023 to 7% in Q4 2024, indicating enhanced operational efficiency [10][17] - Total revenue for Q4 2024 reached RMB 597 million, representing a 20% sequential increase and a 45% year-over-year increase [16] Business Line Data and Key Metrics Changes - Retail transaction volume in Q4 2024 reached 8,554 units, a 42% increase quarter-over-quarter and a 178% increase year-over-year [15] - For the full year 2024, retail transaction volume totaled 21,773 units, representing a 134% year-over-year growth [19] - Wholesale operations saw a decline, with 885 units sold in Q4 2024, a 15% sequential decline and a 31% year-over-year decline [16] Market Data and Key Metrics Changes - China's used car annual transaction volume reached 19.6 million units in 2024, up 6.5% year-over-year, outpacing the new car market's growth of 4.5% [5] - The used car sector in China is expected to maintain strong growth momentum over the next five to ten years, driven by increasing vehicle turnover and supportive government policies [13] Company Strategy and Development Direction - The company plans to open 2 to 4 new superstores in key regional markets in 2025, while also ramping up inventory at existing locations [11][21] - A disciplined regional expansion strategy will be executed to further scale operations and drive profitability [10] - The company aims to achieve over 100% growth in retail transaction volume for the full year 2025 and deliver its first full year of positive adjusted EBITDA [12][21] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the outlook for China's used car market in 2025, despite potential trade tensions with the U.S. [38] - The company expects to maintain over 100% growth in retail sales volume in the coming year, supported by ongoing expansion efforts [39] - Management highlighted the importance of adapting strategies to ensure sustainable long-term development amid market dynamics [40] Other Important Information - The company completed a financing agreement of $27.8 million in March 2025, significantly strengthening its cash position [20] - The net promoter score reached 65 in Q4 2024, up from an average of 60 in the prior year, indicating improved customer satisfaction [8] Q&A Session Summary Question: Update on current cash position and future business development - Management confirmed that the current cash position has improved significantly, allowing for future operations and new superstore investments [26][28] Question: Views on current stock performance - Management believes the stock price increase reflects growing investor interest in the used car industry and confidence in the company's growth prospects [30][32] Question: Outlook for China's used car market amid trade tensions - Management anticipates minimal direct impact from trade tensions on the used car market and remains optimistic about growth in 2025 [38][39]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 ...

BEIJING, April 30, 2025 /PRNewswire/ --Dear Shareholders, On behalf of Uxin Limited, I would like to express my sincere appreciation for your continued interest and support. It is my pleasure to share with you our key achievements over the past year, along with our strategic insights and outlook for the future. 2024 was a challenging year for the broader Chinese economy, marked by ongoing macroeconomic headwinds and an intense price war in the new car segment that weighed on the used-car market. Despite t ...

BEIJING, April 30, 2025 /PRNewswire/ -- Uxin Limited ("Uxin" or the "Company") (Nasdaq: UXIN), China's leading used car retailer, today announced its unaudited financial results for the quarter and full year ended December 31, 2024. As previously announced on November 25, 2024, the Company's board of directors approved a change in the Company's fiscal year end from March 31 to December 31, effective for the fiscal year beginning January 1, 2024. Accordingly, references in this release to the "full year of 2 ...

Core Viewpoint - Uxin Limited, a leading used car retailer in China, is set to announce its financial results for Q4 and the full year 2024 on April 30, 2025, before the U.S. market opens [1]. Group 1: Financial Results Announcement - Uxin will release its financial results for the fourth quarter and full year 2024 on April 30, 2025 [1]. - The announcement will occur before the U.S. market opens [1]. Group 2: Conference Call Details - A conference call will be hosted by Uxin's management team on April 30, 2025, at 8:00 A.M. U.S. Eastern Time [2]. - Participants must complete an online registration process to receive access details for the conference call [2]. - A telephone replay of the call will be available until May 7, 2025, with specific dial-in details provided [3]. Group 3: Company Overview - Uxin is recognized for pioneering industry transformation in the used car market through advanced production and digital empowerment [4]. - The company offers high-quality vehicles and superior after-sales services, emphasizing a hassle-free transaction experience [4]. - Uxin employs an omni-channel strategy, leveraging both online platforms and offline inspection centers to serve customers nationwide [4].

Core Viewpoint - The used car segment in China's automotive market is emerging as a potential growth area amid economic challenges, with Uxin Ltd. positioned to capitalize on this trend through strategic partnerships and a superstore model [2][12]. Group 1: Company Developments - Uxin Ltd. has closed a deal to sell new stock to Dida for $7.5 million, which is a significant cash infusion for the company [4]. - The company also secured $28 million from Nio, increasing Nio's stake in Uxin to approximately 70% [5]. - Uxin's transaction volume for used cars surged 81% year-on-year in the third quarter, reaching 7,046 vehicles sold [14]. Group 2: Financial Performance - Despite a significant increase in retail transactions, Uxin's retail transaction revenue grew by only 79% year-on-year to 444 million yuan ($61 million), indicating a decline in average vehicle prices due to market conditions [15]. - Uxin's gross margin improved to 7.0% in the third quarter, up from 6.2% a year earlier, aided by cost control measures [16]. - The adjusted loss before interest, taxes, depreciation, and amortization (EBITDA) decreased to 9.2 million yuan from 45.9 million yuan a year earlier, with expectations of turning positive in the fourth quarter [16]. Group 3: Market Trends - The used car market in China is projected to grow at an annual rate of 13.7% from 2023 to 2028, driven by favorable economic factors and government initiatives [13]. - Uxin's superstore model is designed to leverage partnerships with state-owned entities and private investors, enhancing its market position and potential for future cash infusions [6][7]. - The company's stock has nearly doubled over the past year, reflecting growing investor interest and confidence in its business model [10].

Group 1 - Uxin Limited, a leading used car retailer in China, has entered into definitive agreements with Fame Dragon Global Limited for the purchase of 5,738,268,233 Class A Ordinary Shares for a total consideration of US$27,876,506 [1] - The closing of the subscription is subject to customary closing conditions, following the Investor's acquisition of NC Fund's rights and obligations under a previously announced binding term sheet [1] - Uxin is committed to transforming the used car industry through advanced production, new retail experiences, and digital empowerment, offering high-quality vehicles and superior after-sales services [2] Group 2 - The company operates under an omni-channel strategy, leveraging its online platform and offline inspection centers to serve customers nationwide and establish market leadership [2] - Uxin has over ten years of operational experience, which has allowed it to develop strong used car management and operation capabilities [2] - The company emphasizes a customer-centric approach and aims to drive the healthy development of the used car industry [2]

Core Viewpoint - Uxin Limited has announced a strategic partnership with Times Electric Service to promote battery swapping models in the used car market, enhancing consumer transaction services for pre-owned new energy vehicles [1][2]. Group 1: Partnership Details - The collaboration aims to diversify the new energy used car market and provide a more convenient transaction experience for consumers [1]. - Uxin will leverage its extensive resources and experience in the used car industry, particularly in the inspection and transaction of pre-owned new energy vehicles [2]. - The partnership will establish a used car trading system based on the "vehicle-battery separation" model, integrating Times Electric Service's battery swapping technology [2][3]. Group 2: Key Initiatives - Key initiatives include developing an online used car trading platform and battery marketplace, along with inspection, certification, and rating services for battery swapping used cars [3]. - Both companies will work together to advance the construction of a battery swapping network and promote the standardization of battery swapping technology [3]. Group 3: Company Background - Uxin is recognized as China's leading used car retailer, providing comprehensive end-to-end services including vehicle selection, acquisition, inspection, reconditioning, display, sales, and after-sales support [2][4]. - The company has established strong used car management and operation capabilities over more than ten years of operation, focusing on customer-centric approaches and the healthy development of the used car industry [4]. Group 4: Times Electric Service Overview - Times Electric Service is a wholly-owned subsidiary of Contemporary Amperex Technology Co., Limited (CATL), a leader in lithium-ion battery development and manufacturing [5]. - The company aims to provide new energy operation services by leveraging CATL's technological and industrial resources, contributing to sustainable development [5].

Financial Data and Key Metrics Changes - The quarterly retail transaction volume reached 6,005 units, representing a sequential increase of 47% and a year-over-year growth of 163% [7][19] - Total retail vehicle sales revenue was RMB440 million, reflecting a sequential increase of 37% and a year-over-year increase of 79% [20] - The average selling price of retail vehicles decreased from RMB109,000 to RMB74,000, but the increase in transaction volume offset the impact on overall revenue [20] - Total revenues for the third quarter were RMB497 million, representing a sequential increase of 24% and a year-over-year increase of 40% [21] - The gross profit margin improved to 7%, indicating an upward trend [22] - Adjusted EBITDA loss was RMB9.2 million, a reduction of 73% quarter-over-quarter and 80% year-over-year [23] Business Line Data and Key Metrics Changes - Retail transaction volume significantly increased, while wholesale transaction volume decreased to 1,041 units, a sequential decrease of 31% and a year-over-year decrease of 35% [21] - The company achieved adjusted EBITDA profitability at the superstore level this quarter, with a goal of company-wide adjusted EBITDA profitability in the upcoming December quarter [13] Market Data and Key Metrics Changes - Customer satisfaction remained high with a Net Promoter Score of 66%, indicating strong brand loyalty [9] - The company has achieved a market share exceeding 15% in cities where superstores are located, with plans to expand further [30] Company Strategy and Development Direction - The company is expanding its superstore model, with new stores planned in Zhengzhou and Wuhan, expected to open in 2025 [14][15] - The focus is on increasing inventory levels to meet consumer demand and enhancing value-added services to improve gross profit [11] - The company aims to standardize the used car transaction process, which has been recognized by government ministries [10] Management's Comments on Operating Environment and Future Outlook - Management noted a moderation in growth rates for both new and used car transactions in China, attributing it to economic fluctuations and price reductions in new cars [27][28] - Despite short-term challenges, management remains confident in the long-term prospects of China's used car market, expecting double-digit growth in transaction volumes [29] - The company plans to open several new superstores each year to drive sustained growth in sales volume [30] Other Important Information - The fiscal year has been adjusted to run from January 1 to December 31, aligning with common practices in the investment community [17] Q&A Session Summary Question: Outlook on China's used car market growth - Management acknowledged a slowdown in growth rates for used car transactions but remains confident in long-term prospects, expecting a rebound in volumes [27][29] Question: Timeline for new stores in Zhengzhou and Wuhan - The Wuhan store is expected to open in the first half of 2025, while the Zhengzhou store is anticipated to open in the second half of 2025, with breakeven expected within 6 to 12 months after opening [36][37] Question: Inventory management and turnover rates - The company plans inventory levels based on local car ownership and market share goals, maintaining a turnover rate of around 30 days even as inventory increases [41][48]

Financial Performance - Uxin Limited reported total revenues of RMB497.2 million (US$70.9 million) for the quarter ended September 30, 2024, representing a 23.9% increase from RMB401.2 million in the previous quarter and a 39.6% increase from RMB356.1 million in the same period last year [2][3] - Retail vehicle sales revenue reached RMB444.4 million (US$63.3 million), a 36.8% increase from RMB325.0 million in the last quarter and a 78.5% increase from RMB248.9 million in the same period last year [2][3] - Gross margin improved to 7.0% for the quarter, compared to 6.4% in the last quarter and 6.2% in the same period last year [2][3] Transaction Volume - Total transaction volume was 7,046 units, a 25.7% increase from 5,605 units in the last quarter and an 81.4% increase from 3,884 units in the same period last year [1][2] - Retail transaction volume was 6,005 units, marking a 46.8% increase from 4,090 units in the last quarter and a 162.6% increase from 2,287 units in the same period last year [1][2] Operational Losses - Loss from operations was RMB38.6 million (US$5.5 million), a decrease from RMB62.5 million in the last quarter and RMB66.4 million in the same period last year [3][4] - Non-GAAP adjusted EBITDA was a loss of RMB9.2 million (US$1.3 million), compared to a loss of RMB33.9 million in the last quarter and a loss of RMB45.9 million in the same period last year [3][4] Future Outlook - The company anticipates retail transaction volume to be between 7,800 units and 8,100 units for the quarter ending December 31, 2024, representing over a 150% year-over-year increase [1][6] - Total revenues for the upcoming quarter are estimated to be between RMB560 million and RMB580 million, with expectations for Non-GAAP adjusted EBITDA to be positive [6] Strategic Developments - Uxin has entered into a partnership with the Wuhan Municipal Government and is expanding into new regions, including Zhengzhou and Wuhan, which are expected to enhance sales growth [1][5] - The company has adjusted its fiscal year to align with the calendar year, which aims to improve financial reporting and investor understanding [6] Financial Position - As of September 30, 2024, Uxin had cash and cash equivalents of RMB29.1 million, an increase from RMB23.3 million as of March 31, 2024 [4] - Current liabilities exceeded current assets by approximately RMB403.6 million, raising concerns about the company's ability to continue as a going concern [4]