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Uxin Announces First Quarter Financial Results
Uxin (NASDAQ:UXIN), the foremost automotive ecommerce platform in China announced its unaudited first quarter financial results. For the period ending March 31, 2019 Uxin reported US$149.2 in revenue, at a 54.6 uptick compared to this time last year in addition to a net loss of US$42.3 million. As quoted in the press release: First Quarter …
Uxin (NASDAQ:UXIN), the foremost automotive ecommerce platform in China announced its unaudited first quarter financial results. For the period ending March 31, 2019 Uxin reported US$149.2 in revenue, at a 54.6 uptick compared to this time last year in addition to a net loss of US$42.3 million.
As quoted in the press release:
First Quarter 2019 Operational Highlights
Transaction volume for the 2C business increased to 78,277 units in the first quarter of 2019, representing year-over-year growth of 39.6%.– Cross-regional transaction volume increased to 20,647 units in the first quarter of 2019, representing year-over-year growth of 48 times.– Intra-regional transaction volume increased to 57,630 units in the first quarter of 2019, representing year-over-year growth of 3.6%.
Transaction volume for the 2B business decreased to 36,522 units in the first quarter of 2019, representing year-over-year decline of 42.6%, due to the Company’s change of approach in serving consumers with car-selling needs, as well as dealers’ growing appetite for retail transactions through Uxin’s 2C platform.
GMV for the 2C business increased to RMB8,892 million in the first quarter of 2019, representing year-over-year growth of 61.5%.– GMV for the cross-regional business increased to RMB2,268 million in the first quarter of 2019, representing year-over-year growth of 33 times.– GMV for the intra-regional business increased to RMB6,624 million in the first quarter of 2019, representing year-over-year growth of 21.8%.
GMV for the 2B business decreased to RMB1,851 million in the first quarter of 2019, representing year-over-year decline of 39.8%.
Loan facilitation service was provided to facilitate financing for 74,579 used car transactions in the first quarter of 2019, representing year-over-year growth of 63.8%.
M3+ delinquency rate by balance1 was 1.45% as of March 31, 2019, relatively stable compared to 1.41% as of December 31, 2018.
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