Uxin Announces Strategic Partnership with Zhengzhou Airport Industry

BEIJINGJuly 8, 2024 /PRNewswire/ — Uxin Limited (“Uxin” or the “Company”, together with its subsidiaries, the “Group”) (Nasdaq: UXIN), China A leading used car retailer, today announced a strategic partnership with Zhengzhou Airport Automobile Industry Co., Ltd. (“Zhengzhou Airport Industry”) to establish Uxin (Zhengzhou) Intelligent Remanufacturing Co., Ltd. (the “Joint Venture”). Pursuant to the Joint Venture Agreement, Uxin (Anhui) Industrial Investment Co., Ltd. (“Uxin Anhui”), a wholly-owned subsidiary of Uxin, will contribute 120.0 million RMB and Zhengzhou Airport Industry will contribute 50.0 million RMBrepresenting approximately 70% And 30% of the total share capital of the joint venture, respectively.

The joint venture aims to support Uxin’s plan to create a new used car supermarket in ZhengzhouThis initiative is a key collaboration between Uxin and Zhengzhou Airport Industry to promote the development of the auto parts industry in the Henan Province and build a leading brand in China used car industry.

Mr. Kun Dai, Chairman and CEO of Uxin, commented: “The strategic location of Zhengzhou Airport, its favorable business environment, established automobile industry and mature supply chain strongly support Uxin’s business growth. With the continued support of the local government, Uxin can now focus its resources on producing high-quality used cars in state-of-the-art factories. In addition, Uxin aims to provide a first-class retail service experience based on new retail concepts as well as enhance large-scale vehicle operations by utilizing its digital capabilities. These efforts align with Uxin’s mission to transform and elevate China “used car industry.”

Zhengzhou Airport Industry, with a registered capital of 1.0 billion RMBZhengzhou Airport Economy Zone Technology Innovation Investment Group Co., Ltd. is a wholly-owned subsidiary of Zhengzhou Airport Economy Zone Technology Innovation Investment Group Co., Ltd. (“Zhengzhou Airport Investment Group”). Zhengzhou Airport Investment Group, with a registered capital of 20.0 billion RMBZhengzhou Airport Investment Group Co., Ltd. is a state-owned enterprise under the management of Zhengzhou Airport Economic Zone Administrative Committee, with a credit rating of AA+. As of the end of 2023, Zhengzhou Airport Investment Group controlled and/or invested in 58 companies with combined total assets of approximately 30.0 billion RMB and net assets of approximately 10.0 billion RMB.

About Uxin

Uxin is China We are a leading used car retailer, pioneering the transformation of the industry with advanced production, new retail experiences and digital empowerment. We provide high-quality, value-for-money vehicles and superior after-sales services through a reliable, unique and hassle-free transaction experience. As part of our omnichannel strategy, we are able to leverage our pioneering online platform to serve customers nationwide and establish market leadership in selected regions through offline inspection and reconditioning centers. By leveraging our extensive industry data and continuous technological innovation throughout more than ten years of operation, we have established strong used car management and operation capabilities. We are committed to maintaining our customer-centric approach and promoting the healthy development of the used car industry.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking statements” that are made pursuant to the “safe harbor” provisions of the WE Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely” and similar statements. Statements that are not historical facts, including statements about Uxin’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to, the following: the risk and uncertainties as to the timing of entering into definitive agreements or consummation of transactions; the risk that certain conditions to closing of transactions may not be satisfied in a timely manner or at all; the impact of the COVID-19 pandemic; Uxin’s objective and strategies; its expansion plans and the success of certain financing transactions; its future business development, financial condition and results of operations; Uxin’s expectations regarding market demand and acceptance of its services; its ability to provide a differentiated and superior customer experience, maintain and enhance customer confidence in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financial partners; trends and competition in China the used car e-commerce industry; laws and regulations relating to Uxin’s industry; general economic and business conditions; and assumptions underlying or relating to any of the foregoing.

For investor and media inquiries, please contact:

Uxin Limited Investor Relations
Uxin Limited
Phone: +86 10 5691-6765
Email: [email protected]

The Blueshirt Group
Mr. Jack Wang
Phone: +86 166-0115-0429
Email: [email protected]

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SOURCE Uxin Limited