Uxin Limited announced its unaudited financial results for the quarter and full year ended December 31, 2024. For the fourth quarter of 2024, Uxin reported a retail transaction volume of 8,554 units, marking a 42.4% sequential increase and a 177.6% year-over-year growth.
Total revenues for Q4 2024 reached RMB596.8 million (US$81.8 million), an increase of 45.4% year-over-year. Retail vehicle sales revenue grew by 73.3% year-over-year to RMB553.1 million (US$75.8 million). The company achieved a gross margin of 7.0% for the quarter, an improvement from 4.8% in the same period last year.
Notably, Uxin reported positive non-GAAP adjusted EBITDA of RMB2.0 million (US$0.3 million) for the fourth quarter, marking the first time the company has achieved this milestone on a quarterly basis. This demonstrates the scalability and improving profitability of its superstore model.
For the full year ended December 31, 2024, Uxin's retail transaction volume increased by 133.8% year-over-year to 21,773 units. Total revenues for the full year were RMB1,814.4 million (US$248.6 million), representing a 29.7% increase from the prior year.
Looking ahead to 2025, Uxin aims to more than double its retail transaction volume again and deliver its first full-year positive adjusted EBITDA. The Wuhan superstore began trial operations in February 2025, and the Zhengzhou superstore is on track to open in the second half of 2025, supporting future growth.
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