Q1 2025 Uxin Ltd Earnings Call Transcript
Key Points
- Uxin Ltd (UXIN) achieved a 31% sequential increase and a 142% year-over-year growth in retail sales, with 4,090 units sold in the first quarter of fiscal year 2025.
- Customer satisfaction reached a new high with a Net Promoter Score (NPS) of 65, maintaining the highest score in the industry for nine consecutive quarters.
- The company is on track to achieve adjusted EBITDA profitability by the December quarter of 2024, driven by strong business momentum.
- Uxin Ltd (UXIN) has secured a USD7.5 million financing agreement with Dida, enhancing liquidity and supporting inventory growth.
- The company is expanding its network of superstores, including a new strategic partnership with the local government in Zhengzhou, which will enhance market presence and drive sales growth.
- The average selling price (ASP) of retail vehicles decreased from RMB111,000 to RMB79,000, impacting overall revenue despite higher transaction volumes.
- Wholesale transaction volume declined by 3% year-over-year, with total wholesale vehicle sales revenue at RMB63.9 million.
- The company's cash position as of June 30 was relatively low, raising concerns about financial stability.
- Adjusted EBITDA loss for the quarter was RMB33.9 million, although it showed improvement from the previous quarter.
- The company faces ongoing market disruptions due to aggressive pricing competition in the new car market, which has impacted the used car sector.
Hello and welcome to the Uxin First Quarter Fiscal Year 2025 Earnings Conference Call. (Operator Instructions) Please note this event is being recorded.
I will now like to turn the conference over to Jack Wang. Please go ahead.
All right. Thank you, operator. Hello, everyone. Welcome to Uxin's earnings conference call for the first quarter ended June 30, 2024. On the call today with me, we have DK, our Founder and CEO; and John Lin, our CFO. DK will review business operations and company highlights, followed by John, who will discuss financials and guidance. They will both be available to answer your questions during the Q&A session that follows.
And before we proceed, I would like to remind you that this call may contain forward-looking statements, which are inherently subject to risks and uncertainties that may cause actual results to differ from our current expectations. For detailed discussions of the risks and uncertainties, please refer to our filings with the SEC.
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