Uxin(UXIN)2025-04-30 12:00Financial 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]