Uxin Limited, a leading used car retailer in China, has announced a change in the ratio of its American Depositary Shares (ADSs) to Class A ordinary shares. The adjustment will alter the ratio from one ADS representing thirty Class A ordinary shares to one ADS representing three hundred Class A ordinary shares, effectively executing a one-for-ten reverse ADS split. This change is scheduled to take effect at the opening of business on January 16, 2024, on the Nasdaq Global Select Market, where Uxin's ADSs are traded under the ticker symbol 'UXIN'. The company has stated that there will be no change to the underlying Class A ordinary shares and no shares will be issued or cancelled due to this...Show More

Uxin Limited, a leading used car retailer in China, has announced a change in the ratio of its American Depositary Shares (ADSs) to Class A ordinary shares. The adjustment will alter the ratio from one ADS representing thirty Class A ordinary shares to one ADS representing three hundred Class A ordinary shares, effectively executing a one-for-ten reverse ADS split. This change is scheduled to take effect at the opening of business on January 16, 2024, on the Nasdaq Global Select Market, where Uxin's ADSs are traded under the ticker symbol 'UXIN'. The company has stated that there will be no change to the underlying Class A ordinary shares and no shares will be issued or cancelled due to this ratio change. ADS holders are not required to take any action as the change will be automatically reflected in the books of the ADS depositary. While the adjustment is expected to proportionally increase the ADS price, Uxin has cautioned that it cannot assure the post-change ADS price will be equal to or greater than ten times the pre-change price. The announcement also highlighted Uxin's role as a pioneer in China's used car retail industry, emphasizing its commitment to customer-centric services and the healthy development of the market.