Uxin (UXIN) Q1 2025 Earnings Call Transcript

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Friday, June 13, 2025 astatine 8 a.m. ET

• Chief Executive Officer — BK

• Chief Financial Officer — John Lin

• Chief Operating Officer — Jack Wang

BK: Hello, everyone. Thank you for joining america today. I americium pleased to reconnect with you each connected the telephone and to facilitate communications with some home and planetary investors, I volition stock our company's latest advancement successful some Chinese and English. During the archetypal 4th of fiscal twelvemonth 2025, which covers April to June 2024, our superstore operations maintained beardown momentum contempt ongoing disruption successful the utilized car marketplace caused by assertive pricing contention successful the caller car market. We achieved retail income of 4,019 units per quarter, representing a 31% summation sequentially and an awesome 142% maturation twelvemonth implicit year. Our conveyance turnover ratio besides remained high, with inventory turnover days astatine astir 30 days.

As our concern continues connected this accelerated maturation trajectory, lawsuit restitution has besides reached caller heights. After maintaining the highest nett promoter people successful the manufacture for 9 consecutive quarters astatine astir 60, we further improved this quarter, reaching an NPS of 65. Our customers progressively admit the prime of our products and the level of work we provide, further solidifying the competitory vantage of Uxin's offline superstore model. In our shareholder missive past quarter, we outlined our anticipation to execute adjusted EBITDA profitability company-wide by the December 4th of 2024. The beardown concern momentum implicit the past fewer months has brought america adjacent person to this goal.

Today, I would similar to item 3 cardinal areas we are focusing connected to thrust continued growth.

First, we are steadily expanding our inventory levels. Since June, the strength of caller car terms wars has begun to ease, and user request for utilized cars has gradually picked up. In response, we resumed expanding our inventories, and we expect to summation our inventory to 2 to 3 times its size astatine the opening of the twelvemonth by the extremity of 2024. This volition supply a wider enactment of vehicles to conscionable lawsuit request and thrust continued retail income maturation implicit the adjacent 3 quarters.

Second, we are expanding the proportionality of vehicles we get from idiosyncratic car owners. As our marque beingness grows successful the cities wherever our superstores are located, arsenic good arsenic successful the surrounding areas, we are seeing a important emergence successful integrated postulation from idiosyncratic car owners looking to merchantability oregon commercialized successful their vehicles. Currently, implicit 60% of the vehicles we get travel straight from backstage owners, placing america astatine the forefront of the proviso chain. This not lone helps america to unafraid amended pricing margins but besides strengthens our competitory borderline successful determination markets.