On September 13th, Uxin (UXIN.US) surged before the market opened, rising nearly 29% to $1.96, but the gain has now narrowed to over 2%. On the news front, Dida Chuxing announced that its wholly-owned subsidiary, Pintu Beijing, has signed a memorandum of understanding with Uxin. According to this, Pintu Beijing has agreed to subscribe to 1.543 billion shares of Class A common stock of Uxin, and Uxin will deliver 5.1461 million American Depositary Shares as consideration, with a value of $7.5 million. At the same time, Pintu Beijing will provide Uxin with a $7.5 million loan for a period of 18 months. The board of directors of Dida Chuxing believes that the proposed subscription is beneficial to the group due to the potential synergies in the automotive aftermarket industry and the growth opportunities in the used car market. The company expects to provide more after-sales services to private car owners on Uxin's platform through its cooperation with Uxin Limited, promote used car transactions, attract more private car owners, and enhance the company's passenger transportation capacity.