BEIJING, Sept. 30, 2022 (GLOBE NEWSWIRE) — Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a number one e-commerce platform for getting and promoting used automobiles in China, in the present day introduced that NIO Capital has made additional funds for its subscription of senior convertible most popular shares of the Company based mostly on additional agreed-upon schedules. As beforehand disclosed, the Company has entered into definitive agreements with an affiliate of NIO Capital in June 2022 for the subscription of 714,285,714 senior convertible most popular shares of the Company for an mixture funding quantity of US$100 million, which might be paid in a number of installments. The identical variety of senior convertible most popular shares have been issued on July 27, 2022 and the Company acquired the primary installment in reference to the closing of the transaction.
About Uxin
Uxin is a number one e-commerce platform for getting and promoting used automobiles in China. We provide high-quality and value-for-money automobiles in addition to superior after-sales providers by a dependable, one-stop, and hassle-free transaction expertise. Under our omni-channel technique, we’re capable of leverage our pioneering on-line platform to serve prospects nationwide and set up market management in choose areas by offline inspection and reconditioning facilities. Leveraging our in depth business information and steady expertise innovation all through greater than ten years of operation, we’ve established robust used automotive administration and operation capabilities. We are dedicated to upholding our customer-centric strategy and driving the wholesome growth of the used automotive business.
Safe Harbor Statement
This press launch comprises statements which will represent “forward-looking” statements that are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements could be recognized by terminology similar to “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and related statements. Statements that aren’t historic information, together with statements about Uxin’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties. Quite a lot of elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the danger and uncertainties as to the timing of the entry into definitive agreements or consummation of the transactions; the danger that sure closing situations of the transactions is probably not happy on a well timed foundation, or in any respect; impression of the COVID-19 pandemic; Uxin’s purpose and methods; its enlargement plans and profitable completion of sure financing transactions; its future business growth, monetary situation and outcomes of operations; Uxin’s expectations relating to demand for, and market acceptance of, its providers; its capacity to supply differentiated and superior buyer expertise, preserve and improve buyer belief in its platform, and assess and mitigate numerous dangers, together with credit score; its expectations relating to sustaining and increasing its relationships with business companions, together with financing companions; tendencies and competitors in China’s used automotive e-commerce business; the legal guidelines and laws referring to Uxin’s business; the final financial and business situations; and assumptions underlying or associated to any of the foregoing.
For investor and media enquiries, please contact:
Uxin Limited Investor Relations
Ms. Joyce Tang
Phone: +86 10 5691-6765
Email: [email protected]
The Blueshirt Group
Jack Wang
Phone: +86 166-0115-0429
Email: [email protected]
