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With the auto industry slowdown and the support of policy, can Uxin catch the opportunity to turn the tide?
On April 27th, Beijing time, China's largest used car e-commerce platform Uxin released a new quarterly financial report. Affected by the epidemic, the financial report of Uxin's used car comes late. Judging from its share performance, Uxin is basically in a downward trend in the first quarter, and the stock price has remained below $2 for most of the time. Judging from market sentiment, its investment situation is not optimistic.
According to the financial report, its performance is still not very eye-catching. Although it has achieved year-on-year growth in revenue, it is still at a loss, and it may still be difficult to turn losses into profit in the short term. After the financial report was released, its after-hour shares fell a lot.
Before the release of the new financial report, Uxin sold its B2B second-hand car online auction business to 58.com, at a loss of only $105 million in price. Is there any chance for Uxin, which focuses on global purchase business, to stand up? What crises does the newly released financial report reveal that Uxin is facing?
The overall performance of Uxin is not very good