The following is a summary of the Uxin Limited (UXIN) Q3 2024 Earnings Call Transcript:
Financial Performance:
Uxin's retail sales in Q3 2024 marked a 34.7% increase quarter-over-quarter and a 5.2% increase year-over-year, reaching 3,081 vehicles.
EBITDA profitability was achieved at a store level for the first time in January 2024. The company expects to reach company-wide EBITDA profitability within 2024.
Total retail revenue for the quarter saw a 28% increase, reaching RMB319.2 million.
A 16% increase brought the total revenues to RMB410.5 million for Q3.
The gross margin was maintained at 4.8%, with expectations of recovery to above 6.5% the following quarter.
A decrease from RMB76.4 million to RMB43.8 million narrowed down the Adjusted EBITDA loss.
Business Progress:
Uxin focuses on enhancing scalability to their profitability.
Strategic work is ongoing to bolster vehicle pricing capabilities and customer acquisition.
Stable vehicle turnover has been maintained despite market fluctuations.
Highly efficient vehicle turnover in super stores is regarded as an achievement for Uxin.
Cost reduction initiatives have been marked for execution from April onwards.
As part of strategic progression, site selection and operational preparations for 1 to 2 super-stores are on track to complete within 2024.
New round of financing has been initiated, intended to boost current inventory levels.
Uxin anticipates monthly EBITDA break-even by September 2024 and aims to achieve company-wide EBITDA profitability in Q4 of 2024.
More details: Uxin IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.