Uxin (UXIN) Q1 2027 earnings summary

Executive summary

• Retail transaction volume reached 16,530 units in Q1 2026, up 119% year-over-year, marking the eighth consecutive quarter of over 110% growth.

• Total revenues were RMB 1.074 billion, up 113% year-over-year but down 10% sequentially due to seasonality.

• Gross margin remained stable at 7%, with inventory turnover at approximately 30 days and NPS improving to 68.

• Tianjin superstore opened in March, expanding the network to six superstores nationwide, with further expansion planned.

• Strategic partnerships announced with Chongqing and Shijiazhuang municipal governments for new superstores.

Financial highlights

• Retail vehicle sales revenue was RMB 1.015 billion, up 118% year-over-year, but down 10% sequentially.

• Wholesale transaction volume was 1,681 units, up 134% year-over-year, with total wholesale revenue at RMB 27.9 million.

• Other revenue reached RMB 30.8 million, up 90% year-over-year.

• Adjusted EBITDA loss was RMB 34.3 million, higher than both the previous quarter and the same period last year due to new store ramp-up and staffing investments.

• Net loss was RMB 91.6 million, compared to RMB 51.4 million in the same period last year.

Outlook and guidance

• Q2 2026 retail transaction volume expected to be 18,000–19,000 units, representing 73%–83% year-over-year growth.

• Q2 total revenue guidance is RMB 1.05–1.1 billion.

• Full-year 2026 target of over 100% year-over-year growth in retail transaction volume reaffirmed.

• Plan to open four to six new superstores in 2026 remains unchanged.