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优 信 UXIN GROUP Uxin Reports Unaudited First Quarter of Fiscal Year 2022 Financial Results September 24 , 2021 -- BEIJING , Sept. 24 , 2021 ( GLOBE NEWSWIRE ) Uxin Limited ( " Uxin " or the " Company " ) ( Nasdaq : UXIN ) , a leading nationwide online used car dealer in China , today announced its unaudited financial results for the quarter ended June 30 , 2021 . Highlights for the Quarter Ended June 30 , 2021 • Transaction volume was 3,011 units for the three months ended June 30 , 2021 , compared with 1,719 units last quarter and 3,887 units in the same period last year . • Total revenues were RMB277.8 million ( US $ 43.0 million ) for the three months ended June 30 , 2021 , compared with RMB196.0 million last quarter and RMB62.2 million in the same period last year . • Gross margin was 4.0 % for the three months ended June 30 , 2021 , compared with 4.6 % last quarter and negative 28.4 % in the same period last year . • Loss from continuing operations was RMB50.7 million ( US $ 7.9 million ) for the three months ended June 30 , 2021 , compared with RMB97.4 million last quarter and RMB128.4 million in the same period last year . • Non - GAAP adjusted loss from continuing operations was RMB44.6 million ( US $ 6.9 million ) for the three months ended June 30 , 2021 , compared with RMB98.0 million last quarter and RMB133.0 million in the same period last year . • Net loss from continuing operations was RMB69.2 million ( US $ 10.7 million ) for the three months ended June 30 , 2021 , compared with RMB132.8 million last quarter and RMB152.4 million in the same period last year . Mr. Kun Dai , Founder , Chairman and Chief Executive Officer of Uxin , commented , " We delivered solid results this quarter despite this being one of the most challenging quarters we've experienced over the last ten years . While we were only able to maintain a relatively small retail inventory due to the capital constraints , we managed to enhance our fundamental operation capabilities and streamlined our processes in vehicle sourcing , reconditioning , sales and delivery in our first inspection and reconditioning center ( " IRC " ) in Xi'an . At the same time , we continued to improve our operational efficiency and optimized the organization at all business levels . All the progress we achieved in this quarter has built a solid foundation for our future business expansion and the replication of our Xi'an IRC model . " " After receiving the first tranche of the financing transaction in July , our business has been recovering as expected and gradually resuming to high - quality growth momentum . Fueled by our strong supply chain capabilities , the retail inventory in Xi'an IRC has been growing rapidly . The increasing selection of quality vehicles under our inventory - owning model will drive sustainable sales growth , as we continue to fulfill orders with excellent customer satisfaction . " Mr. Dai continued , " This year marks Uxin's tenth anniversary which we just celebrated on September 9. In the past decade , we have experienced both exciting and tough times . Uxin has become stronger because of all the challenges we have overcome as one team . It all started with the mission to " make it easy for every Chinese customer to own a quality used vehicle " . This is the solid foundation that drives our passion to provide customers with high quality , value - for - money used cars and best - in - class services . We are confident and determined to continue contributing to the long - term healthy development of China's used car industry . " Mr. Feng Lin , Chief Financial Officer of Uxin , said , " Even under various financial constraints , we were able to increase our total sales volume and revenues compared with the prior quarter . At the same time , we continued to focus on optimizing cost and expenses , and substantially decreased our Non - GAAP adjusted loss . To better balance supply capacity and capital efficiency in this quarter , we sold more used vehicles through wholesale channels . Additionally , the closing of the first tranche of the financing transaction in July substantially improved our financial position and enabled us to expand our operations . We expect the company's performance to continue improving in the following quarters . " Financial Results for the Quarter Ended June 30 , 2021 Total revenues were RMB277.8 million ( US $ 43.0 million ) for the three months ended June 30 , 2021 , compared with RMB62.2 million in the same period last year . The increase was primarily due to increases in revenue recognized on a gross basis as a result of the Company selling used cars from its own inventory since September 2020 and was partially offset by the decrease in retail transaction volume and GMV1 as a result of the Company's business model transformation . Retail vehicle sales revenue was RMB91.7 million ( US $ 14.2 million ) for the three months ended June 30 , 2021 , compared with nil in the same period last year . For the three months ended June 30 , 2021 , retail transaction volume was 679 units , all of which were sold from the Company's own inventory and therefore the corresponding revenue was recognized on a gross basis . Wholesale vehicle sales revenue was RMB176.6 million ( US $ 27.4 million ) for the three months ended June 30 , 2021 , compared with nil in the same period last year . Wholesale vehicle sales included sales of used vehicles acquired from individuals that did not meet the Company's retail standards to list and sell through its proprietary ecommerce platform , and therefore , sold through offline dealerships . Other revenue was RMB9.5 million ( US $ 1.5 million ) for the three months ended June 30 , 2021 , compared with RMB10.5 million in the same period last year . The decrease was mainly due to a decrease in advertising fee . Cost of revenues was RMB266.7 million ( US $ 41.3 million ) for the three months ended June 30 , 2021 , compared with RMB79.9 million in the same