Chinese used car retailer Uxin Ltd. (UXIN) on Tuesday reported a wider net loss for the first quarter as higher operating expenses offset a sharp increase in revenue driven by more than doubling used car sales volumes from a year earlier.
Further, the company forecasts sequential growth in sales volumes and revenue in the second quarter.
In pre-market activity on Nasdaq, shares of Uxin were down 4.76 percent, changing hands at $2.0191, after closing Monday's regular session 5.47 percent higher.
For the first quarter, net loss expanded to 98.03 million yuan or $14.21 million in the quarter ended March 31, 2026, from 53.07 million yuan a year earlier.
Net loss per share was unchanged at 0.00 yuan.
Loss from operations worsened to 66.59 million yuan or $9.65 million from 35.25 million yuan as total operating expenses climbed to 142.10 million yuan or $20.60 million from 82.54 million yuan.
EBITDA loss deepened to 44.93 million yuan or $6.51 million from 12.25 million yuan.
On an adjusted basis, net loss was 82.11 million yuan or $11.90 million, from 41.58 million yuan a year earlier.
Net loss per share was flat at 0.00 yuan.
EBITDA loss ballooned to 34.30 million yuan or $4.97 million from 8.85 million yuan a year earlier.
Meanwhile, quarterly revenue more than doubled to 1.07 billion yuan or $155.65 million from 504.23 million yuan a year earlier.
Retail transaction volume jumped 119.1 percent to 16,530 units from 7,545 units, though it dropped 13.7 percent from 19,160 units in the prior quarter.
Total transaction volume surged 120.4 percent to 18,211 units from 8,264 units a year earlier, but declined 15.8 percent from 21,634 units in the previous quarter.
Looking ahead to the second quarter, Uxin said it expects retail transaction volume of 18,000 units to 19,000 units and revenue between 1.05 billion yuan and 1.10 billion yuan. The company said the forecasts reflect current and preliminary views on market and operational conditions, which are subject to change.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.