Uxin(UXIN) Prnewswire·2024-11-25 08:30Financial Performance - Uxin Limited reported total revenues of RMB497.2 million (US63.3 million), a 36.8% increase from RMB325.0 million in the last quarter and a 78.5% increase from RMB248.9 million in the same period last year [2][3] - Gross margin improved to 7.0% for the quarter, compared to 6.4% in the last quarter and 6.2% in the same period last year [2][3] Transaction Volume - Total transaction volume was 7,046 units, a 25.7% increase from 5,605 units in the last quarter and an 81.4% increase from 3,884 units in the same period last year [1][2] - Retail transaction volume was 6,005 units, marking a 46.8% increase from 4,090 units in the last quarter and a 162.6% increase from 2,287 units in the same period last year [1][2] Operational Losses - Loss from operations was RMB38.6 million (US1.3 million), compared to a loss of RMB33.9 million in the last quarter and a loss of RMB45.9 million in the same period last year [3][4] Future Outlook - The company anticipates retail transaction volume to be between 7,800 units and 8,100 units for the quarter ending December 31, 2024, representing over a 150% year-over-year increase [1][6] - Total revenues for the upcoming quarter are estimated to be between RMB560 million and RMB580 million, with expectations for Non-GAAP adjusted EBITDA to be positive [6] Strategic Developments - Uxin has entered into a partnership with the Wuhan Municipal Government and is expanding into new regions, including Zhengzhou and Wuhan, which are expected to enhance sales growth [1][5] - The company has adjusted its fiscal year to align with the calendar year, which aims to improve financial reporting and investor understanding [6] Financial Position - As of September 30, 2024, Uxin had cash and cash equivalents of RMB29.1 million, an increase from RMB23.3 million as of March 31, 2024 [4] - Current liabilities exceeded current assets by approximately RMB403.6 million, raising concerns about the company's ability to continue as a going concern [4]