Uxin Limited ( (UXIN) ) has released its Q2 earnings. Here is a breakdown of the information Uxin Limited presented to its investors.
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Uxin Limited is a leading used car retailer in China, known for providing high-quality vehicles and superior after-sales services through a one-stop transaction experience, leveraging both online and offline channels to serve customers nationwide.
In its latest earnings report for the quarter ended September 30, 2024, Uxin Limited showcased significant growth in transaction volumes and revenues, indicating a robust recovery and expansion in its operations. The company reported a record-breaking quarter with substantial increases in retail transaction volumes.
Uxin’s transaction volume for the quarter was 7,046 units, marking an 81.4% increase from the same period last year. Retail transaction volumes surged by 162.6% year-over-year, reaching 6,005 units. Total revenues increased by 39.6% to RMB497.2 million, with a gross margin improvement to 7.0%. The operational loss was reduced to RMB38.6 million, and non-GAAP adjusted EBITDA losses narrowed significantly.
Despite ongoing challenges, Uxin is optimistic about its growth trajectory, with plans to expand its inventory and enhance service offerings. The company is also making strategic regional expansions, which are expected to drive further sales growth. Management anticipates continued improvement in financial performance, targeting positive quarterly EBITDA in the near future.
Looking ahead, Uxin expects its retail transaction volume to reach between 7,800 to 8,100 units in the next quarter, with revenues projected to be between RMB560 million to RMB580 million. The company is focused on achieving sustainable long-term growth through strategic initiatives and operational enhancements.
