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UXIN stock surged in the premarket trading session; find out why

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In the premarket trading hours, (UXIN) stock has advanced 8.56% to trade at the price of $4.06 on the last check Wednesday. The UXIN stock previously closed the trading session gaining 7.47% at $3.74. The shares of the company traded between the price range of $3.47 and $3.88. UXIN stock traded 5.12 million shares. In the past week, UXIN’s shares have shed -5.08%. However, the stock jumped in the last month by 15.08%. In the past year, up-to-date UXIN shares have surged by 136.71%. In the past three and six months, the stock has advanced 266.67% and added 259.62% respectively. Furthermore, Uxin Limited is currently valued in the market at $1.15 billion and has 369.95 million outstanding shares.

What you need to know about Uxin Limited as one of the leading used car market in China

Uxin Limited is an Internet content & information company that specifically focuses on the provision of financing solutions and investments in the used car. The company carries out its operations on an e-commerce platform in China, where a wide selection of used cars and car accessories/parts are offered. UXIN stock also lends services and support related to online used-cars transactions which is run through an online site known as Uxin Used Car Brand. Furthermore, the company helps customers and buyers selection through various cars that are sourced through auction under the Uxin Auction platform. The company also provides financing solutions which are funded through third-party financing partners through sites, xin.com and youxinpai.com. The company was established in 2011 and is based in Beijing, China.

Uxin Limited made a financial transaction agreement with NIO Capital and Joy Capital

The company recently announced that it has come into contract with two companies that are partnering on the investment of US$315 million in the Company. The two companies are NIO Capital and Joy Capital. This financing transaction is aimed to fund the capital cost of corporate business, growth, and transformation of UXIN stock to match progress with the rapidly developing used car market of China. The one-stop business model of the company has created an impression of trust and partnership with the NIO Capital that Uxin will deliver high-quality cars nationwide while tackling critical problems that affect the market and job opportunities of traditional dealers. Furthermore NIO capital believes that the reliability of Uxin’s platform and comprehensive after-sale services will help push the industry towards transformation and expansionary development.

On similar notes, Joy Capital stated that the reputation and solid strategic direction aligned with the business transformation of Uxin Limited is what drew the company to specifically choose Uxinfor investment opportunity in the used car market in China.

In other news, UXIN stock has made a decision to convert the convertible notes of some of its investors, including, 58.com, TPG, and Warburg Pincus for an aggregate amount of US$69 million into Uxin’s Class A ordinary shares. Furthermore, Uxin has made an agreement with over ten companies/investors that they will note sell their recently converted Class A shares within the nine next months, with customary closing conditions adhered in the agreement.

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