Uxin Group recently released its unaudited financial results for the second quarter ended June 30, 2026, showing total revenue and retail revenue both growing more than 70% year-on-year, with external equity financing advancing in an orderly manner and Chairman Dai Kun's US$5 million share purchase plan set to launch as scheduled.
In the second quarter of 2026, Uxin (NASDAQ: UXIN) posted total revenue of RMB 1.151 billion, up 74.9% year-on-year and 7.2% quarter-on-quarter. Retail revenue reached RMB 1.081 billion, up 77.9% year-on-year and 6.5% quarter-on-quarter, remaining the core source of the company's income. Wholesale vehicle sales revenue was RMB 37.4 million, while other revenue came in at RMB 33 million.
Strong growth in retail volume provided solid support for revenue growth. Total transaction volume in the second quarter reached 21,899 units, with retail transaction volume hitting 19,610 units, up 88.7% and 88.8% year-on-year respectively.
New and established super stores together released growth momentum. The Tianjin super store, which began trial operations in March 2026, saw inventory and sales climb rapidly, and combined with incremental contributions from stores in Wuhan, Zhengzhou and Jinan, this drove a substantial expansion in overall sales scale.
In the second quarter, hit by external factors such as short-term sharp price cuts in the new car market, prices in the used car market fluctuated notably. To adapt to the new market pricing environment, Uxin proactively accelerated inventory clearance, and gross margin saw a temporary decline this quarter.
Uxin Chief Financial Officer Lin Feng said that although losses widened this quarter due to market conditions, the company still maintained high-speed growth, with overall performance outpacing the broader market. The company expects total revenue for the third quarter of 2026 to range between RMB 1.10 billion and RMB 1.12 billion, with overall gross margin expected to recover to above 6.0%.
The financial report also disclosed that, under the previously announced equity financing arrangement with NIO Capital, the company has received US$4 million of investment from NIO Capital, with the remaining US$4 million investment now moving through handover procedures. NIO Capital confirmed it will complete its capital contribution at the agreed price of US$2.859 per ADS. Meanwhile, Joy Capital is also actively advancing the ODI filing for its investment in the company.
In addition, Uxin Group founder, Chairman and Chief Executive Officer Dai Kun plans to use up to US$5 million of personal funds to increase his holdings of the company's American Depositary Shares within 12 months, highlighting management's confidence in the company's long-term development. The plan is about to launch.
Dai Kun said Uxin has completed validation of the super store model, with core capabilities such as vehicle pricing, inventory turnover and customer service continuing to iterate, and inventory turnover further optimized. In particular, inventory turnover has been shortened from 30 days to around 20 days while maintaining a healthy per-vehicle profit level. Sales and operating efficiency at existing stores will continue to climb, and six new store projects in Yinchuan, Guangzhou, Wuxi, Chongqing, Shijiazhuang and Shaoxing are under construction. The company expects retail transaction volume in the third quarter to reach 20,500 to 21,000 units, maintaining high year-on-year growth.
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