Uxin Reports Q3 Revenue of RMB 879 Million, Retail Sales Surge 134% YoY

Deep News12-18 15:31

Uxin Group (Nasdaq: UXIN) released its unaudited financial results for the quarter ended September 30. The report shows that in Q3, Uxin's total transaction volume reached 15,904 vehicles, up 37.0% quarter-over-quarter (QoQ) and 125.7% year-over-year (YoY). Retail transactions accounted for 14,020 vehicles, growing 35.0% QoQ and 133.5% YoY, remaining the core driver of the company's transaction growth.

Driven by sustained retail transaction growth, Uxin's revenue expanded significantly. Total revenue for Q3 stood at RMB 879 million, up 33.6% QoQ and 76.8% YoY. Retail vehicle sales revenue reached RMB 819 million, increasing 34.8% QoQ and 84.3% YoY, further boosting its share of total revenue.

Profitability improved notably as scale effects and operational efficiency took hold. Uxin's gross margin rose to 7.5% in Q3, up from 5.2% in the previous quarter. Adjusted EBITDA loss narrowed sharply to RMB 5.3 million, decreasing 43% YoY and 68% QoQ.

Uxin CFO Lin Feng stated that the company's profitability strengthened significantly, with gross margin hitting a three-year high and adjusted EBITDA loss shrinking substantially. Key metrics validate the scalability of its "offline superstore + nationwide online sales" model. Moving forward, Uxin will focus on retail growth and operational quality to sustain financial improvement. Q4 transaction volume is projected to grow over 110% YoY and 30% QoQ.

Founder, Chairman, and CEO Dai Kun highlighted Uxin's stable inventory turnover of around 30 days and a Net Promoter Score (NPS) of 67, maintaining the industry's highest level for six consecutive quarters. The company's competitive edge stems from "more accurate pricing, higher efficiency, and better customer satisfaction." New superstores in Wuhan and Zhengzhou show strong growth, while Jinan’s location is in trial operation. Additionally, Uxin has formed strategic partnerships with governments in Tianjin, Guangzhou, and Yinchuan to expand its superstore network. With existing locations growing steadily and new stores launching, retail sales are expected to maintain rapid growth in the coming years.

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