Uxin Limited (UXIN) 25 Nov 242025 Q2 Earnings call transcript

Good day, and welcome to the Uxin Third Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Jack Wang. Please go ahead.

Thank you, operator. Hello, everyone. conference the earnings September quarter Uxin's XXXX. XX, to call third for ended Welcome

today we will the D.K. follows. with Founder call financials questions followed the On me, during will who available and operations company discuss Lin, to by business your John, and guidance. have that John our be review Q&A CFO. They session will and and highlights, both CEO; our D.K., answer

contain forward-looking we may that may Before differ I this to expectations. subject to would cause current to that which you remind statements, risks proceed, like results from uncertainties inherently our are call and actual

detailed For the SEC. please uncertainties, refer and to discussions filings the of our with risks

sir. turn call CEO, I to that, will with Now the go over ahead, our D.K. Please

joining [Interpreted] I'm all you today. you with everyone. pleased this reconnect Thank call. on for us to Hello,

and -- retail XXX%. Before before, accommodate progress both sharing reached September English as and a company's quarterly From increase XXXX, report July high-quality and we X,XXX to growth. of volume will domestic investors. We're year-over-year we be of to latest start, a sharing our another sequential quarter representing in international XX% our I'll growth Chinese units, of transaction excited to our be our

inventory Our industry lower below than days. sales average XX turnover the of remains vehicle robust, XX efficiency with Chinese maintained days days, much XX to

at satisfaction XX%. retail level vehicles We be that marking of X,XXX traditional Uxin to cars, X%, model [ will in technology, XX of XXX%. Customer comprehensive the Net conversion with sales leveraging since Our over to representing our industry anticipate of this car to volume application and significant next rate to highest reconditioning self-operated remained margin from used reliable exceeds for a factories full year-over-year quarters our new units, consecutive Promoter By offers high rising digital customers the our stack to and gross business. expanded a purchasing increase superstore units has also sales dealerships. with system high-quality The profit we transitioned visiting in produce over service the quarter. Score X,XXX our advantages advanced a stores intelligent quarter transaction the XX% ]

our customers base more consolidating our regional of markets. to transacting competitive reaching grow, customers continues advantage reputation our rapidly, potential is positive further As in

Importantly, considered processes. used transactions cars have traditionally nonstandard been

State However, our we industry. Earlier inspection standard corporate sales, China's and the the leader inter the from industry delivery transaction car by been and after-sale the the Administration X used and Ministry and Industry has Reform efforts China. including People's achievements Finance ministries, of had to Information Bank and Regulation, we Technology, National services of of in standardizing were in the Technology, a month, reconditioning named of to the Commission, Ministry process Science government recognized and the and Ministry for Development -- increasingly be honored entire by Market this

to continue industry. the will service elevate of our centers, We product used car high-quality leading China's development and

are business We actively executing also initiatives. various

the demand inventory more levels car the one-stop are At profit. superstores, time, our we value-added transaction steadily purchases. same we meet to consumer leveraging gross First, environment contribute strong increasing to off-line the are by of to the services our service of our penetration for enhancing

the gradually superstore demands optimizing we're to business our staffing scale. Second, and accommodate our supplementing of expanding

our maintenance vehicle their further and us ongoing in our the allows This We level company-wide Additionally, the goal EBITDA daily superstores are model, profitability our cities our achieve EBITDA on by we on customers, adjusted service optimization, the our progressing proven is at the margin, of base of in this smoothly. in quarter. profit our improving service gross sales we're quarter. Building to have be new expansion physically where grows, as areas improvements superstore and needs. Driven network existing by remain maintenance continuous additional profitability meeting adjusted servicing other superstore our closer expense growth, outlets customer track upcoming to consistent deploying superstores to located. of December achieved

agreement pleased of entered into Central the we Wuhan. to Zhengzhou corporation major Zone, with we city is city Airport million have that are Following million. vehicle Economic XX and announce agreement the population a Wuhan a with another our with China of in corporation ownership of X

automotive Auto a as potential Valley, Wuhan that well-developed Additionally, value known China's for business offering chain has massive is industry development.

today. commence presence and market discussions several year. next Zhengzhou we to significantly in are enhance superstores sales look concludes Our to closer other at performance. And growth driving let will Furthermore, our ahead. with will I are superstores of future go and And in that The new our financial please operations John, provide new financials. in Wuhan a cities. for Uxin's regions, now John, my expected remarks CFO, expansion

D.K. you, Thank everyone. [Interpreted] Hello,

better English We adjusted and communicate first, note to community, Chinese will deliver our both remarks investment fiscal align this I the in common the you. we quarter. to with to in practice that year better would like have our with And

of (sic) year, Our from fiscal XX year the XX [ to X now runs April ]. from X period instead previous to December January each March XX

growth. units, from year-over-year XXXX, growth period on top which quarter's growth XXXX, Transaction last volume record sequential retail transaction is a now the year and representing of fiscal to quarterly the once X,XXX delivered we reached quarter again a of July of XX% increased volume very XXX%. of September For third high, strong significantly substantial

in vehicle RMB a period a sales and This sequential retail XXX increase strong decreased offset the of quarter. vehicle XX,XXX XX%. RMB transaction to the on selling last increase prices was lower RMB this retail The of impact The million, XX% revenue in same of increase had representing of volume revenue. average overall price year year-over-year from total XXX,XXX quarter, vehicles

units, a wholesale, of this quarter, -- RMB XX%. And of margin third year-over-year the profit X%, an profit for and the total was the for previous of decrease margin a quarter quarter quarter. our third from and sequential retail transaction As X,XXX representing and a vehicle of revenues sequential with wholesale of gross total wholesale increase XXX decrease improvement revenue XX.X XX% year-over-year RMB volume million, million. were Combining XX% sales segment, was XX%, a wholesale our increase

Importantly, on improvement. And trend. of our our enforce to and cost expense margin is significant further has upward anticipate market and the room recovering an for we services, penetration and operational value-added higher continue And performance gross while substantially, with we improved efficiency strict control.

XX% reduction quarter, This million, RMB EBITDA of loss year-over-year. our and reduction adjusted XX% X.X was a quarter-over-quarter

to with the XXX and total quarter million RMB X,XXX growth to projected ahead our million. XXXX, units revenues volume is units XXX RMB retail its of looking to Now reaching between to X,XXX continue transaction expected fourth trend, be

now plan the our to quarter. And Q&A in today. positive prepared for EBITDA achieve Operator, to the also adjusted everyone. for We session. fourth the we are remarks company you, begin that ready Thank concludes

first [Operator today from The Instructions] [ comes Gary question Research. ] Tower Dvorchak Water with

digits previous transaction X% in by rate volumes seen is the like year-over-year September. But slowed, double years, annually. we've months, China's in that recent from growth January growth to around the grew used car So now has significantly think

and So or whether share trend for car could market not, future? down the development market's behind you the is the of reasons outlook used the your China's slowing

All Gary. right. Thanks,

first. Let Language]. [Foreign me that question translate

observed used cars additionally, about questions. and for sales factors demand the suppressed increased [Interpreted] we purchasing somewhat first have growth for to the half X% by has headwinds the which to for slowdown And transactions towards consumer consumer car in the the Yes, the This X%. The grown China. during in environment, the this new production And cars. fluctuations rate new faced of a price due new by car economic car while year, and transactions impacted Okay. specifically, thanks in moderation primary vehicles. And the contributing Thanks of have both the include which is for in reductions the used sentiment used has cars used market approximately question. year, D.K. year-over-year,

long-term challenges, market. confident However, we highly despite the these of used prospect remain car short-term China's in

First, is car States still rise. less country X/X ownership continues than the that and to car in of United China's overall capita the ownership the per

used car is Second, market a stage early still the in of Chinese development. very

coming will years. maintain expect We growth volume in double-digit transaction the it

half since see rebound the year, of begun this fact, already used in we've volumes. second In car transaction a to

over around growth transaction So XXX% for quarters. volume few past we've achieved us, year-over-year the retail in

share in are has XX%. superstores our current exceeded cities market located, X our While where the

on this growth every sales that indicates we And share because low are market. relatively in plan superstores remains market cities. open through significantly the the we we our for new will significant growth presence focusing outpace believe our rate sustained our year, to these headroom nationwide that which several sales deepening currently a volume. growth. In Our model will in superstore years, off-line overall drive coming And our of

next. can that's on answer the Operator, the our And we move to question. to

from comes Securities. with question next TF Fei The Dai

Wuhan in profitability? what Could stores. new new Is to timeline from encouraging operating XXXX? expanding the planned achieving the the in with performance Also, to will say and for on construction stores stores individual X company the company's have to financial this provide [Interpreted] you impact Zhengzhou

-- now and [Interpreted] half Well, This first new validated is experience accumulated And are operational to Zhengzhou as in superstore of fully know-how. second Hefei, this of from questions. and we've of the Both and already the open models building are The Wuhan in your expected in anticipated store concept address is Xi'an of fully experience and half the -- refinements will on store XXXX. we planned. valuable stores our I our progressing the John, open to is XXXX.

as opening. result, new to XX we a reach after So expect within stores to breakeven these months X

will performance, phased depend grow. equipment on facilities new be locations. investment for gradually we opening, schedule on operating our for of vehicles. will the need and Prior primarily acquiring will purchasing levels this financial our capital as to to invest Regarding This inventory the largely rollout impact in the reconditioning

won't requirements be new So for each the initial store capital substantial.

the our normal statement first starting after anticipate months X X turning begin positive. on also opens. months to operating the store We losses we during a impact a around expect But level the of income

Okay.

to question. answer first that's So our your

I increasing Over quarters, by the quarter. mentioned company questions. inventory about past growing X few has consistently XX% each inventory, [Interpreted] the with have assets

different perspective, for is, decrease The XX-day company [indiscernible]? does turnover levels will a do the how to rate market limit the first The you plan And inventory and second turnover from how upper inventory is as of inventory is demand increased? levels in balance cities? plan

I D.K., question. And that is will address [Interpreted] this and

market local and Our share targeted approach levels cities planning ownership tied car in the regions. different levels our those inventory to to is in closely

in city approximately that our about market be For with car to X the volume annual markets X,XXX considering and the used translates example, transaction month. In per this around leading the Hefei, new units this into used used XXX,XXX put car registered will competitive years, an vehicles units enter approximately cars with typically around the in existing city share car also share the advantage XX,XXX X% the after a and attain have highlight effective Xi'an market surprising ultimate a only. To in perspective we exceeding XX%. generally our companies of XX% business like and market U.S. achieved and goal model, to and

in with supports used So which around monthly a based an these XX% X,XXX inventory such cities, of and is capacity of larger as around million, operation the XXX,XXX car X,XXX metrics, vehicles will around capturing our on cars. cars. where units superstores with car inventory be superstore cities ownership transaction, effectively of In Zhengzhou capacities X of manage approximately Wuhan, XX,XXX can the

steadily So new the which resources. Since our share double same plan us March levels that inventory city, while in doubled of progressively helps was outpaced more market sales with end By has we with the then ownership an city's inventory increasing enhance period, monthly managing Notably, that have we first growth levels. sales end growth. been market entering efficiently when the our March scale than inventory during objectives. penetration our our growth have and this of approximately a We inventory meaning September, year, line aligns of sales inventory our establish car levels.

several decrease. This to achieved So inventory a we've rather acceleration an actually factors. than turnover in is due

effectively in wider we purchases. First, car has higher of growth used benefit of with driving available demand the The our recovering the our making from strong second, been sales we variety superstores. our enhances destination for vehicles attractiveness, market selection -- brand preferred stores volumes. a And -- our increase expand higher as consumers scale,

a yet efficiency. Currently, drawn inventory the are levels result, as limits. have their improving So not more to planned our at customers our brand, X reached sales superstores existing

increase an So continue your for as second. to even we to we to how rate aim that's maintain we turnover days, XX answer around inventory. And inventory

any closing our concludes like the over to would session. turn This conference to back for the question-and-answer company I remarks.

All speaking today's you. for right. look for continued next in Uxin. We joining your you again support with forward Thank and call quarter. you to Thank

[Foreign Language]. Thank you.

presentation. for has now today's attending Thank The conference concluded. you

by spoken disconnect. [Portions marked [Interpreted] that now this may of are interpreter present live were an the You call.] transcript on