UXIN.US, China's largest online mall for used cars, today released its quarterly results for March 2020, Zhitong Financial APP learned. Due to public health events, corporate trading volume and GMV are greatly affected. The financial report shows that from January 1 to March 31, 2020, Youxin's total income was 104 million yuan (unit: RMB, the same below); 2C online trading reached 6584 vehicles; 2C GMV 723 million yuan; 2C revenue was 88.5 million yuan.
In the first quarter of 2020, the public health incident had a great impact on the whole used car industry. But at the same time, it also promotes the "online" development of second-hand car transactions, creating opportunities for Youxin to speed up the transformation of its business and service model.
Dai Kun, founder, chairman and CEO of Youxin Group, said that during the public health incident, Youxin comprehensively upgraded its products and services, creating an online car purchase model. Youxin has developed from a strong financial second-hand car trading platform to an online mall that focuses on transactions and provides high-quality cost-effective second-hand cars, high-quality purchase services and online one-stop convenience services.
In the past period of time, Youxin continues to strengthen the selection, delivery and preparation capacity, and improve service guarantee. Excavate the most cost-effective high-quality vehicles from the national mass of cars; provide timely vehicle consulting services to facilitate users to carry out seamless self-help car purchase experience; improve the response speed and quality of after-sales service and improve customer satisfaction. In terms of financial business, Youxin is building a first-class used car financial supermarket to meet the diversified needs of customers.
Dai Kun said that there is great potential for online car purchase, but the market has been lack of customer service for a long time, and there is a long way to go to build an online mall for high-quality second-hand cars. Youxin will focus on providing the best service for every customer. Youxin will adhere to the long-term strategy, continue to create better value for customers and bring long-term sustainable growth for the company and shareholders.
Through a series of agreements with Golden Pacer and other management, Youxin has completely completed the definancialization and has since no longer assumed any guarantee responsibility for the historical loan business. At the same time, Youxin also signed a supplementary agreement with PacificBridge Asset Management to properly solve the problem of maturing short-term convertible bonds.