Uxin Ltd. (China)

The Company is an investment holding company, operates a used car e-commerce platform in China.
HISTORY
Uxin Limited was incorporated as a Cayman Island corporation on December 8, 2011.
It registered office is at the offices of Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. It corporate headquarters are located at 2-5/F, Tower E, LSHM Center, No.8 Guangshun South Avenue, Chaoyang District, Beijing, China. It telephone number is +86 10 5631-2700. It main websites are www.xin.com and www.youxinpai.com.
The Company s ADSs, each representing three of its Class A ordinary shares, have been listed on Nasdaq since June 27, 2018. The Company s ADSs trade under the symbol “UXIN.”
On April 26, 2020, its board of directors approved the change in our fiscal year end from December 31 to March 31.
BUSINESS
The Company serves as an investment holding company and currently has no operations of its own.
The Company is an e-commerce platform for buying and selling used cars in China. With its inventory-owning model, the Company provide its customers a comprehensive transaction solution that encompasses the entire value chain, ranging from used-car acquisition, inspection and reconditioning, warehousing, as well as pre-sales and after-sales services. The Company offer high-quality and value-for-money used cars as well as superior full suites of services to customers through a reliable, one-stop and hassle-free transaction experience. Empowered by its omni-channel sales approach, the Company is able to establish market leadership by serving customers both nationwide through its online platform and in selected regions through its offline inspection and reconditioning centers (IRCs).
Since early 2018, the Company has been offering online used-car-buying products and services (2C online transactions) to customers nationwide through its online platform. By removing the geographic boundaries of used car transactions, its online platform facilitates each step of the transaction process and establishes a seamless self-service purchasing experience. With the abundant used-car listings and transparent price estimates displayed on its platform, its customers can easily place an order online, free from paying any hidden extra fees, and also enjoy its carefree after-sales support. Leveraging its vast nationwide logistics and delivery network, the Company is able to provide door-to-door delivery to its customers nationwide. In addition, the Company also collaborate with various third-party partners to provide a wide range of value-added products and services, such as auto financing options and insurance products, as well as other after-sales services.
In September 2020, the Company started to shift to an inventory-owning model from a third party inventory commissioned-based model, aiming to better control our supply chain and deliver higher-quality used cars and higher transaction certainty to its customers.
Meanwhile, to further strengthen its ability to provide high-quality and value-for-money used cars, the Company has been building its own IRCs where the Company can recondition all retail inventory to a “like new” condition. Its first IRC in Xi'an has been in operation in March 2021. In September 2021, the Company entered into a strategic partnership with Changfeng County Government of Hefei City to jointly invest in and build the industry-leading IRC in Changfeng, Hefei. With a total investment of up to RMB2.5 billion, the Hefei IRC is expected to have an annual production capacity of 60,000 to 100,000 vehicles once it is in operation in the next few years. This production capacity is expected to provide the Company with a stable and large supply of high-quality used vehicles in the coming years. The phase one of Hefei IRC has been in operation since its launch in November 2021.
The Company operates as a single operating segment.
ACQUISITION
In June 2015, the Company acquired 30 ordinary shares of Baogu, a vehicle warranty service provider, and accounted for the investment and equity method. The purchase consideration was RMB12.2 million. In August 2017, the Company acquired the remaining 70 ordinary shares of Baogu with consideration of RMB4 million in cash and obtained the power to control Baogu.
On June 1, 2018, the Company acquired 100 ordinary equity interests from Zhejiang Dongwang Internet Technology Co., Ltd.