Uxin shares surged more than 17% in premarket trading after announcing its financial results.

Uxin shares surged more than 17% in premarket trading after announcing its financial results.

Highlights for the Quarter Ended September 30, 2021

• Transaction volume was 3,648 units for the three months ended September 30, 2021, compared with 3,011 units last quarter and 2,653 units in the same period last year.
• Total revenues were RMB345.9 million (US$53.7 million) for the three months ended September 30, 2021, an increase of 24.5% compared with RMB277.8 million last quarter and compared with RMB76.4 million in the same period last year.
• Gross margin was 4.2% for the three months ended September 30, 2021, compared with 4.0% last quarter and negative 22.4% in the same period last year.
• Loss from continuing operations was RMB45.9 million (US$7.1 million) for the three months ended September 30, 2021, compared with RMB50.7 million last quarter and RMB162.6 million in the same period last year.
• Non-GAAP adjusted loss from continuing operations was RMB43.2 million (US$6.7 million) for the three months ended September 30, 2021, compared with RMB44.6 million last quarter and RMB178.3 million in the same period last year.

Business Outlook

Uxin expects total revenues to be in the range of RMB480 million to RMB500 million for the three months ending December 31, 2021. This forecast reflects its current and preliminary views on the market and operational conditions, which are subject to changes.