Uxin Announces Strategic Partnership with State-Owned Enterprises in Jiangyin

Core Viewpoint - Uxin Limited has announced a strategic partnership with state-owned enterprises in Jiangyin to establish a joint venture aimed at enhancing the used car market in China, particularly in the Jiangsu Province [1]. Group 1: Joint Venture Details - The joint venture, named Uxin (Jiangyin) Intelligent Remanufacturing Co., Ltd., will see Uxin contribute RMB68.0 million, while Huigang Qihang and Chan Fa Ke Chuang will each contribute RMB16.0 million, representing approximately 68%, 16%, and 16% of the total registered capital respectively [1]. - This initiative is part of Uxin's plan to establish a new used car superstore in Jiangyin, which is positioned as a significant collaboration with local state-owned enterprises [1]. Group 2: Market Opportunity - Jiangyin is located in the Yangtze River Delta, a dynamic economic region with over 30 million residents and more than 12 million vehicles within a 100-kilometer radius, indicating substantial long-term opportunities in the automotive aftermarket [1]. - The establishment of the superstore aims to position it as a regional hub for used vehicle distribution and services, enhancing the automotive consumption experience and promoting industry standards [1]. Group 3: Company Overview - Uxin is recognized as China's leading used car retailer, focusing on industry transformation through advanced production, new retail experiences, and digital empowerment [1]. - The company emphasizes a customer-centric approach, offering high-quality vehicles and superior after-sales services through a reliable, one-stop transaction experience [1].