Uxin Facilitates Over 2,000 Transactions in 18 Hours on Taobao’s Double 12 Shopping Festival

BEIJING, China, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), the largest used car e-commerce platform in China, today announced that it facilitated over 2,000 used car transactions to consumers on the Uxin Taobao Marketplace store during the first 18 hours of Taobao’s Double 12 Shopping Festival.

“We are very pleased to kick off our collaboration with Taobao with robust sales during the Double 12 Shopping Festival,” said Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin. “This is just the first step in our partnership with Taobao. Going forward, we will continue to integrate and optimize our platform to make buying used cars online even more transparent and convenient.”

Uxin recently established a strategic partnership with Taobao, China’s massive and fast-growing consumer community operated by Alibaba Group Holding Limited (“Alibaba Group”) (NYSE: BABA), to expand used car e-commerce in China. The two companies provide a full suite of used car product and service offerings ranging from intelligent listing, displaying and matching, to one-stop transaction solutions.

About Uxin

Uxin Limited (Nasdaq: UXIN) is the largest used car e-commerce platform in China. Uxin’s mission is to enable people to buy the car of their choice, no matter where they are located or what their budget is. Uxin enables consumers and dealers to buy and sell cars through an innovative integrated online and offline platform that addresses each step of the transaction and covers the entire value chain. Its online presence is bolstered by an offline network of more than 670 service centers in over 270 cities throughout China.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Uxin’s strategic and operational plans, contain forward-looking statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Uxin’s goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin’s expectations regarding demand for, and market acceptance of, its services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China’s used car e-commerce industry; the laws and regulations relating to Uxin’s industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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