UXIN News & Events

Uxin announced the launch of a new used car superstore project in Chongqing. The project will integrate a large-scale used car reconditioning facility with a one-stop retail experience, featuring a total capacity of more than 5,000 vehicles for display and sale. "Chongqing offers unique geographic advantages connecting southwestern, northwestern, and central China, as well as the Yangtze River Economic Belt. Supported by a strong automotive consumer base and an active used car market, Chongqing plays a key role in our broader strategic expansion across southwestern China. Leveraging Chongqing's solid industrial foundation and favorable policy support, we aim to provide consumers with a reliable, high-quality, and value-for-money one-stop used car purchasing experience, while contributing to the standardized and quality development of Chongqing's used car industry," said Wenbing Jing, president of Uxin.

Uxin announced a strategic partnership with Huigang Qihang and Jiangyin Chan Fa Ke Chuang to establish Uxin Intelligent Remanufacturing. Pursuant to the joint venture agreement, Uxin Anhui, a wholly owned subsidiary of the company, will contribute RMB 68M, Huigang Qihang will contribute RMB 16M, and Chan Fa Ke Chuang will contribute RMB 16M, representing approximately 68%, 16%, and 16% of the joint venture's total registered capital, respectively. The joint venture will be established to support Uxin's plan to establish a new used car superstore in Jiangyin. This initiative is an important collaboration between Uxin and state-owned enterprises in Jiangyin, is aimed at promoting the development of the automotive aftermarket industry in Jiangsu Province and building a brand in China's used car industry.

Uxin announced that the company has entered into definitive share subscription agreements with affiliates of Nio Capital and Prestige Shine. Under the definitive agreements, the company has agreed to issue and sell, and the investors have agreed to purchase, an aggregate of 5,246,589,717 Class A ordinary shares of the company at a purchase price of $0.00953 per Class A ordinary share for an aggregate consideration of $50M. Of such amount, affiliates of Nio Capital have agreed to invest $20M and Prestige Shine Group have agreed to invest $30M. The consummation of the transactions is subject to customary closing conditions.