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Why did Uxin Limited (UXIN) stock soar in the current trading session?

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In the current market trading session, Uxin Limited (UXIN) stock soared by 7.03% to the price of $1.37 at the time of writing. UXIN stock closed Wednesday’s session at $1.28. The UXIN stock volume traded today at 13.53 million shares. The average daily volume for the past 3 months has been 12.12 million which shows that today’s share volume exchanged more hands. In the past year, UXIN stock fell by -15.79%. However, in the past week, the shares jumped by 3.23%. In the previous three and six months, the UXIN stock soared by 17.43% and 7.56% respectively. Furthermore, Uxin Limited currently has a worth in the market of $352.83 million and has 332.52 million outstanding shares.

The business platform and model of Uxin Limited

Uxin Limited is an investment holding company that specifically focused on operating an e-commerce website as a platform for buying and selling of used cars. It is considered China’s leading online used car dealer. Along with the selling of used cars, it also provides the services of car evaluation, value-added products for cars, supporting services all of which come under the Uxin Used Car brand.

The company also has an auctioning service under the name Uxin Auction which provides businesses and individual clients the opportunity and service for acquiring cars through online auctions. The third-party financing of cars for the buyers is also a service that Uxin facilitates for financing solutions and transaction services.

Recent updates and press-release by Uxin Limited

Today – 22nd April 2021, Uxin Limited announced two updates regarding its financial operations as well as collaboration with a company.

Announcing the schedule for financial report release

Firstly, Uxin Limited announced that it will report its financial result for the year 2021 (fiscal year) on April 28, 2021. The financial report will specifically indicate the third quarter period of the fiscal year 2021 which ended on 31st December 2020 and will be unaudited.

The management team will schedule a conference call before the U.S market opens on 28th April 2021 – Wednesday at 8:00 am Eastern time.

Strategic partnership with JD.com

Furthermore, China’s leading online used car dealer also released today another press release, stating that it has entered into a strategic collaboration with JD.com. The aim of the partnership is to expand Uxin’s e-commerce presence for used cars through JD’s platform by developing an online store for used car transactions.

Consumers will find this site to be very convenient and easily accessible for the use of searching used cars and used car-related products and services. Both companies will provide a one-stop user car website which will have solutions like car inspection, aftersales services, and car insurance. Uxin and JD.com will access all the software, data and web applications for used car businesses including supply chains, inspection standards and data management.

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