Uxin Q1 Net Loss Narrows, Stock Up In Pre-market

(RTTNews) - Uxin Ltd. (UXIN), a used car retailer, on Thursday announced a narrower net loss in the first quarter, compared with the previous year.

For the first quarter, net loss attributable to ordinary shareholders narrowed to RMB 53.07 million or $7.31 million from RMB 1.93 million last year.

Earnings per share were at RMB 0.00 versus loss per share of RMB 0.43 last year.

Adjusted net loss attributable to ordinary shareholders narrowed to RMB 41.58 million, or $5.73 million, from RMB 102.31 million in the prior year.

Adjusted EBITDA narrowed to RMB 8.85 million, or $1.22 million, from RMB 39.75 million in the previous year.

Loss from operations narrowed to RMB 35.25 million or $4.86 million from RMB 109.84 million in the previous year.

Revenue increased 58% to RMB 504.23 million or $69.45 million from RMB 319.15 million last year.

Looking ahead to the three months ended June 30, the company expected its retail transaction volume to range between 10,000 units and 10,500 units.

The Company estimates that its total revenues, including retail vehicle sales revenue, wholesale vehicle sales revenue, and other revenue, to range between RMB630 million and RMB660 million.

In the pre-market trading, Uxin is 13.76% higher at $4.9600 on the Nasdaq.