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Uxin Limited (“Uxin” ) , a leading online used car dealer in China,Monday announced its unaudited financial results for the fourth quarter and full year ended December 31, 2019.
2C transaction volume increased to 28,302 units in the fourth quarter of 2019, representing a yearover-year increase of 26.5 percent. 2C GMV increased to 3,308 million yuan in the fourth quarter of 2019, representing a year-overyear increase of 31.9 percent. Total revenues were 466.4 million yuan(66.9 million U.S. dollars) in the fourth quarter of 2019, representing a year-over-year increase of 61.2 percent. Gross profit was 276.0 million yuan (39.6 million U.S. dollars) in the fourth quarter of 2019, representing a year-over-year increase of 108.8 percent.
Regarding to full year 2019，2C transaction volume increased to 97,100 units in the full year 2019, representing a year-over-year increase of 153.8 percent. 2C GMV increased to 11,268 million yuan in the full year 2019, representing a year-over-year increase of 155.3 percent. Total revenues were 1,588.0 million yuan (227.6 million U.S. dollars) in the full year 2019, representing a year-over-year increase of 140.9 percent. Gross profit was 898.7 million yuan (128.8 million U.S. dollars) in the full year 2019, representing a year-over-year increase of 274.1 percent.
Dai Kun, Founder, Chairman and Chief Executive Officer of Uxin, said, "We are pleased to conclude the year on a solid note with 2C revenue increasing by 65% to 388 million yuan during the quarter. 2019 marked an important milestone for Uxin as we shifted our strategic focus to 2C online transactions. "
Throughout the year, we helped over 97,000 consumers buy their car of choice online, enabling them to circumvent the tedious process of spending weeks or even months visiting dealership after dealership to find the ideal car, Dai Kun added.
With a nationwide selection of used cars, consumers on our platform are able to conveniently browse through and buy cars that may not be available in their local market, or easily find better deals on the car of their choice across the country by comparing each car’s price-to-performance, Dai Kun said.
