Uxin Limited posted total revenue of CNY 1.151 billion for Q2 2026, representing a 75% year‑over‑year increase and a 7% sequential rise from the prior quarter. Retail vehicle sales contributed CNY 1.08 billion, up 78% YoY and 7% QoQ, while wholesale revenue amounted to CNY 37.4 million.
Retail transaction volume reached 19,610 units, up 89% YoY and 19% sequentially, and wholesale volume totaled 2,289 units, up 88% YoY and 36% QoQ. The average selling price of retail vehicles fell to CNY 55,000, down from CNY 59,000 a year earlier and CNY 61,000 in Q1 2026.
Gross margin turned negative at ‑0.7%, compared with 5.2% in Q2 2025 and 7% in Q1 2026. Adjusted EBITDA loss was CNY 120 million. Inventory turnover improved to roughly 20 days from about 30 days, and the net promoter score stood at 68. LTM revenue growth as of Q1 2026 was 156%.
In premarket trading, Uxin’s ADS rose 11.14% to $1.211, up $0.12 from the previous close of $1.09, giving the company a market capitalization of $239.78 million. The stock’s beta is 0.84 and its 52‑week high is $4.18.
The broader Chinese auto sector showed new passenger vehicle sales down more than 20% YoY in Q2 2026, with ICE sales down nearly 40%. Nationwide used‑car transactions fell about 1.4% YoY (down 6% in July and 11% in August). Nearly 30,000 brick‑and‑mortar used‑car dealerships exited the market in the first half of 2026, and 50,000‑60,000 (over 20% of the industry) are expected to leave for the full year.
For Q3 2026, Uxin expects retail transaction volume of 20,500‑21,000 units, implying nearly 50% YoY growth, and total revenue of CNY 1.16‑1.19 billion. The company forecasts gross margin to recover above 6%.
Financing updates include NIO Capital’s $4 million investment, with an additional $4 million to be deployed at a fixed price of $2.86 per ADS. Joy Capital is advancing its overseas direct investment filing. CEO DK established a Rule 10b5‑1 plan on June 30 to purchase up to $5 million of Uxin ADS at a maximum price of $2.85 per ADS.
DK noted that 2026 has become a year of accelerated consolidation for China's automotive industry and said Uxin significantly outperformed the broader market in Q2. He added that, given the recent share‑price performance, he used personal funds to buy additional shares as a demonstration of confidence. CFO Feng Lin stated that an inventory turnover of around 20 days is a core operating target to be maintained long term and that the earlier inventory reset is now largely complete, yielding a more stable procurement‑sales balance.
