On June 18th, Uxin (UXIN.US), a leading used car retailer in China, announced that its founder, Chairman, and CEO, Dai Kun, plans to use personal funds to purchase additional company shares on the secondary market over the next 12 months starting June 25, 2026. The total amount of the planned purchases will not exceed $5 million.
"This share purchase plan reflects my recognition of the company's intrinsic value and my firm confidence in its future development," stated Dai Kun. According to the company's strategic roadmap, Uxin aims to operate approximately 50 super stores by 2030, targeting annual retail sales exceeding 1 million vehicles.
Dai Kun further revealed that the company's primary long-term investors, as steadfast value investors, also share strong confidence in the prospects of China's used car industry and the firm's long-term business strategy. Uxin is actively advancing the construction of a nationwide network of warehouse-style super stores. To date, the company operates six such stores in cities including Xi'an, Hefei, Wuhan, Zhengzhou, Jinan, and Tianjin, and has established strategic partnerships in locations like Chongqing and Shijiazhuang to accelerate its national expansion.
The share purchase plan will be implemented and executed in compliance with applicable laws, regulations, regulatory requirements, and Uxin's internal insider trading policies. The company's recently released financial results for the first quarter of 2026 show total revenue reached 1.074 billion yuan, a year-over-year increase of 112.9%. Retail transaction volume hit 16,530 vehicles, surging 119.1% year-over-year, marking the eighth consecutive quarter with growth exceeding 110%. The company's Net Promoter Score (NPS) further improved to 68, maintaining an industry-leading level consistently above 65.
Commenting on the current state of the automotive sector, Dai Kun noted that recent softness in the new car market has exerted some pressure on the used car industry. However, he believes this environment precisely highlights the resilience and differentiated advantages of Uxin's business model. The company has long adhered to a "data-driven" operational philosophy, establishing industry-leading capabilities for high inventory turnover. Dai Kun suggested that periods of industry adjustment present consolidation opportunities for companies with scaled operational capabilities, and Uxin is positioned to further solidify its competitive edge and expand market share following this cycle.
Dai Kun emphasized that China's used car market represents a trillion-yuan sector with long-term growth potential. Uxin will continue to prioritize customer value, aim for high-quality growth, and persistently drive the transformation and upgrade of China's used car industry, creating long-term value for both consumers and shareholders.
Comments