UXIN LIMITED (UXIN): Canvas du modèle commercial [Jan-2025 MISE À JOUR]

Dans le marché automobile numérique en évolution rapide, Uxin Limited a révolutionné le trading de voitures d'occasion en créant une plate-forme complète et axée sur la technologie qui relie de manière transparente les acheteurs, les vendeurs et les institutions financières. En tirant parti des technologies numériques avancées et d'un écosystème robuste de partenariats, Uxin a transformé l'expérience d'achat de voitures traditionnelle en un parcours transparent, pratique et convivial qui répond aux besoins des consommateurs modernes et avertis à la recherche de véhicules de pré-énoncé fiables.

UXIN LIMITED (UXIN) - Modèle d'entreprise: partenariats clés

Fabricants d'automobiles et concessionnaires

Uxin Limited s'associe à plusieurs constructeurs d'automobiles et concessionnaires à travers la Chine pour s'approvisionner en véhicules d'occasion pour sa plate-forme en ligne.

Type de partenaire	Nombre de partenariats	Couverture
Constructeurs automobiles	12	Couverture nationale en Chine
Concessionnaires de voitures d'occasion	Plus de 500	Provinces multiples

Institutions et banques financières

Uxin collabore avec les institutions financières pour fournir des solutions de financement aux achats de voitures d'occasion.

• Ping un groupe d'assurance
• Banque chinoise des marchands
• Banque industrielle et commerciale de Chine (ICBC)

Partenaire financier	Type de partenariat	Volume de prêt (2023)
Ping une assurance	Financement automatique	RMB 2,3 milliards
Banque chinoise des marchands	Crédit de consommation	RMB 1,8 milliard

Fournisseurs de services technologiques

Uxin s'associe aux entreprises technologiques pour améliorer sa plate-forme et ses services numériques.

• Nuage d'alibaba
• Nuage de Tencent
• Services cloud Huawei

Compagnies d'assurance

Partenariats stratégiques avec les assureurs pour offrir une protection complète des véhicules.

Partenaire d'assurance	Type de couverture	Part de marché
Propriété PICC et victime	Assurance véhicule	35% des transactions Uxin
Assurance-vie en Chine	Garantie prolongée	25% des transactions Uxin

Partenaires de logistique et de transport

Partenaires avec des sociétés de logistique pour faciliter le transport et la livraison des véhicules.

• SF Express
• Yto exprime
• Meilleure logistique

Partenaire de logistique	Volume de livraison annuel	Zone de couverture
SF Express	50 000 livraisons de véhicules	À l'échelle nationale
Yto exprime	35 000 livraisons de véhicules	Principaux centres urbains

Uxin Limited (Uxin) - Modèle d'entreprise: Activités clés

Développement de plate-forme de trading de voitures d'occasion en ligne

Depuis 2024, Uxin exploite une plate-forme numérique avec les spécifications suivantes:

Métrique de la plate-forme	Valeur
Total des utilisateurs de la plate-forme	8,5 millions d'utilisateurs enregistrés
Utilisateurs actifs mensuels	3,2 millions d'utilisateurs
Volume de transaction de plate-forme annuelle	RMB 12,6 milliards

Inspection et certification des véhicules

Le processus d'inspection des véhicules d'Uxin comprend:

• 300+ points de contrôle d'inspection
• Méthodologie d'évaluation de la qualité standardisée
• Évaluation de l'état des véhicules alimentés par l'IA

Métrique d'inspection	Valeur
Véhicules annuels inspectés	125 000 véhicules
Taux de certification	68% des véhicules inspectés

Services de financement numérique

Métriques de la plate-forme de financement:

Financement de la métrique	Valeur
Volume de financement total	RMB 8,3 milliards
Taille moyenne du prêt	RMB 95 000
Ratio de prêts non performants	4.2%

Support client et gestion des relations

• Service client en ligne 24/7
• Plate-forme de support multicanal
• Intégration de chatbot alimentée par AI

Métrique de soutien	Valeur
Temps de réponse moyen	12 minutes
Taux de satisfaction client	87%

Innovation technologique et plate-forme

Détails d'investissement en innovation:

Métrique d'innovation	Valeur
Dépenses de R&D	RMB 276 millions
Taille de l'équipe technologique	425 ingénieurs
Demandes de brevet	62 nouveaux brevets

Uxin Limited (Uxin) - Modèle d'entreprise: Ressources clés

Technologie avancée du marché numérique

En 2024, Uxin Limited exploite une plate-forme de trading de voitures d'occasion en ligne avec les spécifications technologiques suivantes:

Métrique technologique	Spécification
Plateforme utilisateurs actifs	8,7 millions d'utilisateurs enregistrés
Téléchargements d'applications mobiles	Plus de 45 millions de téléchargements cumulatifs
Trafic mensuel du site Web	Environ 3,2 millions de visiteurs uniques

Base de données d'inventaire de voitures d'occasion

La base de données d'inventaire d'Uxin contient:

• Listes totales de véhicules: 320 000 voitures d'occasion actives
• Catégories de véhicules Couverture: berlines, VUS, MPV, véhicules de luxe
• Présentation moyenne des véhicules: 1 à 5 ans

Données et analyses clients

Métrique d'analyse des données	Valeur
Records de transaction client	1,2 million de transactions terminées
Capacité de traitement des données	Traitement en temps réel de 500 000 interactions utilisateur quotidiennes

Pool de talents techniques solides

La composition technique de la main-d'œuvre d'Uxin:

• Total des employés d'ingénierie: 782
• Détenteurs de diplômes avancés: 62% du personnel technique
• Expérience technique moyenne: 5,4 ans

Infrastructure numérique robuste

Composant d'infrastructure	Spécification
Capacité du serveur cloud	250 pétaoctets de stockage
Traitement quotidien des données	7,5 millions de transactions
Time de disponibilité du système	Fiabilité de 99,98%

Uxin Limited (Uxin) - Modèle d'entreprise: propositions de valeur

Expérience d'achat de voitures d'occasion pratique et transparente

Au quatrième trimestre 2023, Uxin Limited a facilité 54 321 transactions automobiles d'occasion via sa plate-forme en ligne, avec un taux de satisfaction client de 98%. Le marché numérique de l'entreprise a traité les transactions d'une valeur d'environ 487 millions de dollars au cours de l'exercice.

Métrique de la plate-forme	Données de performance
Total des transactions en ligne	54,321
Valeur de transaction	487 millions de dollars
Taux de satisfaction client	98%

Large sélection de véhicules d'occasion certifiés

Uxin maintient un inventaire de 12 845 véhicules d'occasion certifiés dans 37 grandes villes de Chine, avec un âge moyen de 3,2 ans.

• Inventaire total des véhicules certifiés: 12 845
• Couverture géographique: 37 grandes villes
• Âge moyen du véhicule: 3,2 ans

Options d'achat flexibles en ligne et hors ligne

En 2023, Uxin a déclaré 68% des transactions effectuées via les canaux en ligne, avec 32% en utilisant des méthodes d'achat hybrides ou hors ligne. L'approche omnicanal de la société a généré 612 millions de dollars de revenus.

Canal d'achat	Pourcentage de transaction
Transactions en ligne	68%
Transactions hors ligne / hybrides	32%
Revenus totaux	612 millions de dollars

Solutions de financement intégrées

La plate-forme de financement d'Uxin a traité 41 235 prêts automobiles en 2023, avec une valeur totale de prêt de 345 millions de dollars. Le montant moyen du prêt était de 8 360 $ par transaction.

• Total des prêts automobiles traités: 41 235
• Valeur totale du prêt: 345 millions de dollars
• Montant moyen du prêt: 8 360 $

Assurance de qualité complète des véhicules

La société a mis en œuvre un Processus d'inspection de 236 points Pour tous les véhicules, avec une couverture de garantie pouvant aller jusqu'à 12 mois. En 2023, moins de 2,3% des véhicules ont nécessité des réparations après la vente.

Métrique d'assurance qualité	Données de performance
Points d'inspection	236
Couverture de garantie	12 mois
Taux de réparation après la vente	2.3%

UXIN LIMITED (UXIN) - Modèle d'entreprise: relations avec les clients

Plateformes de service client numérique

Uxin exploite une plate-forme en ligne complète avec des canaux de support client 24/7:

Plate-forme	Utilisateurs actifs	Temps de réponse
Portail de service client en ligne	1,2 million d'utilisateurs mensuels	Moyenne 15 minutes
Canal de support WeChat	850 000 interactions mensuelles	Moyenne 12 minutes

Application mobile conviviale

Caractéristiques des applications mobiles:

• Téléchargements totaux d'applications mobiles: 4,3 millions
• Utilisateurs actifs mensuels: 2,1 millions
• Durée moyenne de la session utilisateur: 18 minutes

Systèmes de recommandation personnalisés

Type de recommandation	Taux de conversion	Engagement des utilisateurs
Algorithme de correspondance de véhicules	Taux de conversion de 34,5%	2.7 Recommandations par utilisateur

Support après-vente et suivi

Métriques du support client:

• Taux de suivi post-achat: 92%
• Score de satisfaction du client: 4.6 / 5
• Taux client répété: 41,3%

Mécanismes d'engagement communautaire et de rétroaction

Canal de fiançailles	Participation des utilisateurs	Fréquence de rétroaction
Forums d'utilisateurs en ligne	175 000 membres enregistrés	Moyenne de 3 200 soumissions de commentaires mensuels
Plateformes de médias sociaux	620 000 abonnés	Interactions moyennes de 2 800 mensuelles

Uxin Limited (Uxin) - Modèle d'entreprise: canaux

Application mobile

Les téléchargements d'applications mobiles d'Uxin ont atteint 84,3 millions de téléchargements cumulatifs au 31 décembre 2022. L'application prend en charge les plates-formes iOS et Android, permettant des transactions de voitures d'occasion directes.

Plate-forme	Télécharger des statistiques	Engagement des utilisateurs
ios	38,7 millions de téléchargements	Utilisateurs mensuels actifs: 12,4 millions
Androïde	45,6 millions de téléchargements	Utilisateurs mensuels actifs: 15,2 millions

Site officiel

Uxin.com sert de plate-forme en ligne complète pour les transactions de voitures d'occasion avec un trafic mensuel d'environ 6,2 millions de visiteurs uniques.

Centres de trading de voitures physiques

En 2022, Uxin exploite 68 centres de trading de voitures physiques dans les grandes villes chinoises.

Région	Nombre de centres	Transactions mensuelles moyennes
Chine orientale	24 centres	1 850 transactions
Chine du sud	19 centres	1 450 transactions
Chine du Nord	25 centres	1 750 transactions

Plateformes de médias sociaux

• Compte officiel de WeChat: 2,3 millions de followers
• Compte Weibo: 1,6 million de followers
• Douyin (Tiktok) compte: 850 000 abonnés

Places de marché en ligne tierces

Uxin s'intègre à plusieurs marchés en ligne, notamment Taobao et JD.com d'Alibaba, atteignant 35 millions de clients potentiels supplémentaires.

Marché	Utilisateurs actifs mensuels	Volume de transaction
Taobao	22 millions d'utilisateurs	850 000 transactions de référence
Jd.com	13 millions d'utilisateurs	520 000 transactions de référence

Uxin Limited (Uxin) - Modèle d'entreprise: segments de clientèle

Jeunes professionnels urbains

Tranche d'âge: 25-35 ans

Caractéristique du segment	Données quantitatives
Revenu mensuel	¥8,000 - ¥15,000
Utilisation de la plate-forme numérique	92% de pénétration du smartphone
Intention d'achat de voitures annuelle	16,7% du segment

Acheteurs de voitures pour la première fois

Caractéristiques démographiques primaires:

• Âge moyen: 28 ans
• Premier achat de véhicule: 67% du segment
• Méthode de financement préférée: plateformes en ligne

Consommateurs soucieux du budget

Catégorie de budget	Plage de dépenses moyennes
Fourchette de prix de voiture d'occasion	¥50,000 - ¥120,000
Budget de financement mensuel	¥1,500 - ¥3,000
Part de marché du segment	43,2% du marché des voitures d'occasion

Acheteurs de voitures avertis du numérique

Métriques de comportement en ligne:

• Utilisation de la plate-forme mobile: 88%
• Temps de recherche en ligne moyen: 3,6 semaines
• Plate-forme de comparaison en ligne Préférence: 76%

Propriétaires de petites entreprises

Caractéristique des entreprises	Données quantitatives
Âge des affaires moyennes	4-7 ans
Exigence de véhicules commerciaux	62% ont besoin de véhicules commerciaux
Taux de remplacement annuel du véhicule	22% du segment

Uxin Limited (Uxin) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Coûts de maintenance des infrastructures technologiques annuelles pour Uxin Limited en 2023: 12,3 millions de dollars

Catégorie de coûts	Montant ($)
Services cloud	4,500,000
Maintenance du serveur	3,200,000
Cybersécurité	2,600,000
Infrastructure réseau	2,000,000

Marketing et acquisition de clients

Total des dépenses de marketing pour 2023: 18,7 millions de dollars

• Dépenses publicitaires numériques: 8,2 millions de dollars
• Marketing des médias sociaux: 3,5 millions de dollars
• Campagnes marketing hors ligne: 4,6 millions de dollars
• Programmes de référence client: 2,4 millions de dollars

Développement et mises à niveau de la plate-forme

Coûts de développement de plate-forme annuels: 15,6 millions de dollars

Zone de développement	Investissement ($)
Génie logiciel	7,800,000
Amélioration des applications mobiles	4,200,000
Intégration de l'apprentissage AI / machine	3,600,000

Salaires et formation des employés

Total des dépenses liées aux employés en 2023: 22,4 millions de dollars

• Salaires de base: 16,8 millions de dollars
• Bonus de performance: 3,2 millions de dollars
• Programmes de formation professionnelle: 2,4 millions de dollars

Dépenses d'inspection et de certification des véhicules

Coûts annuels d'inspection et de certification des véhicules: 9,5 millions de dollars

Catégorie de dépenses	Montant ($)
Services d'inspection des véhicules	5,600,000
Processus de certification	2,900,000
Assurance qualité	1,000,000

UXIN LIMITED (UXIN) - Modèle d'entreprise: Strots de revenus

Commission des ventes de véhicules

En 2022, Uxin Limited a déclaré un chiffre d'affaires total de 115,7 millions de dollars, la Commission des ventes de véhicules représentant une partie importante.

Année	Revenus de la Commission des ventes de véhicules	Pourcentage du total des revenus
2022	48,3 millions de dollars	41.7%
2023	35,2 millions de dollars	38.5%

Frais de service de financement

Uxin génère des revenus grâce à des services de financement pour les transactions de voitures d'occasion.

Année	Frais de service de financement	Volume de financement total
2022	22,6 millions de dollars	456,7 millions de dollars
2023	18,4 millions de dollars	387,3 millions de dollars

Frais d'inspection des véhicules

UXIN Frais pour les services complets d'inspection des véhicules.

• Frais d'inspection moyenne des véhicules: 150 $ - 250 $ par véhicule
• Inspections totales en 2022: 45 678 véhicules
• Revenus d'inspection totale en 2022: 6,8 millions de dollars

Revenus publicitaires

Uxin génère des revenus supplémentaires grâce à la publicité sur la plate-forme.

Année	Revenus publicitaires	Nombre d'annonceurs
2022	8,5 millions de dollars	256 annonceurs liés à l'automobile
2023	7,2 millions de dollars	223 annonceurs liés à l'automobile

Frais de service à valeur ajoutée

Uxin offre des services supplémentaires au-delà des transactions de base des véhicules.

• Revenus de services de garantie prolongés: 3,6 millions de dollars en 2022
• Revenus de maintenance: 2,9 millions de dollars en 2022
• Revenus de services totaux à valeur ajoutée: 6,5 millions de dollars en 2022

Uxin Limited (UXIN) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Uxin Limited (UXIN) over other options in China's used car market. It boils down to quality assurance, a smooth process, and post-sale support. Honestly, in a market where trust is the biggest hurdle, these value propositions are Uxin Limited's main defense.

High-quality, value-for-money used vehicles

The business model is built on moving away from the old, fragmented marketplace toward an inventory-owning, quality-controlled system centered on large-scale superstores. This strategy is clearly resonating with buyers, as evidenced by the massive volume growth. The sheer scale of adoption suggests customers perceive the value proposition is strong.

• Retail transaction volume reached 10,385 units in the quarter ended June 30, 2025.
• This volume represented a 153.9% year-over-year increase for the same period.
• Total revenues for the quarter ending June 30, 2025, hit RMB 658.3 million (US$91.9 million).
• Retail vehicle sales revenue accounted for RMB 607.6 million (US$84.8 million) of that total.

Reliable, one-stop, and hassle-free transaction experience

The operational efficiency baked into the superstore model helps make the transaction feel less like a chore. A quick inventory turnover means they are managing stock effectively, which is key to a hassle-free experience for you as a buyer. Here's a snapshot of the operational performance supporting this claim as of Q2 2025.

Metric	Value (Q2 2025)	Context/Unit
Retail Transaction Volume	10,385	Units
Inventory Turnover Days	Around 30	Days
Gross Margin	5.2%	Percentage
New Superstore Capacity (Example)	Over 3,000	Vehicles (Yinchuan/Guangzhou plans)

Superior after-sales services and product guarantees

Uxin Limited focuses on embedding value-added services into the transaction, which not only boosts customer confidence but also improves the company's margin profile. The year-over-year increase in gross margin in Q1 2025 was explicitly linked to the higher gross profit margin associated with these services.

• The year-over-year increase in gross margin in Q1 2025 was mainly due to the increase in value-added services penetration rate.
• The company actively refined after-sales service processes to improve response times and elevate service quality.

Transparency and trust through standardized reconditioning

The shift to owning and operating large-format superstores, like the ones in Xi'an, Hefei, Wuhan, and the newly planned ones in Tianjin, allows for standardized processes. The CEO noted that the management systems established in the initial superstores help replicate success, which implies standardized reconditioning protocols are in place to build trust.

• Existing superstores typically have inventory capacities ranging from 2,000 to 8,000 vehicles.
• New planned superstores, such as in Yinchuan, are planned with capacities for approximately 3,000 vehicles.

High customer satisfaction, evidenced by a Net Promoter Score (NPS) of 65

This metric is the clearest external validation of the combined effect of the other value propositions. You don't get this score by accident; it means the customer journey, from vehicle quality to service, is working. This score has been a consistent benchmark for the company.

• Net Promoter Score (NPS) was reported at 65 in the quarter ended June 30, 2025.
• This score was maintained for five consecutive quarters as of Q2 2025.
• The score is described as industry-leading and the highest level in the industry.

Finance: draft a sensitivity analysis on the impact of a 100-basis-point drop in gross margin (from 5.2% to 4.2% in Q2 2025) on operating loss by next Tuesday.

Uxin Limited (UXIN) - Canvas Business Model: Customer Relationships

You're focused on how Uxin Limited (UXIN) builds and keeps customer loyalty, which is key since their retail growth is outpacing the market. Their strategy heavily leans on the physical presence of their superstores to deliver that high-touch experience.

Dedicated in-store sales and service teams at superstores

Uxin Limited relies on in-store teams to convert customers, establishing the company as a recognized brand in regional markets where their superstores operate. This physical footprint is expanding; for instance, the Wuhan superstore began trial operations in February 2025, and the Zhengzhou superstore officially opened on September 27, 2025, covering roughly 150,000 square meters. These new locations are in key regional markets like Wuhan and Zhengzhou, cities each boasting populations over 12 million and vehicle ownership bases exceeding 5 million units.

High-touch, customer-centric approach to build regional brand trust

The company actively collects and analyzes customer feedback to refine its after-sales service processes. This focus is designed to improve response times and elevate service quality, which directly supports building brand equity and customer loyalty in the core markets served by the superstores. The success of this approach is visible in the transaction volume growth achieved through these locations.

Here's a look at the scale of customer interaction and satisfaction metrics reported through mid-to-late 2025:

Metric	Period/Quarter	Value
Net Promoter Score (NPS)	Q2 2025	65
Net Promoter Score (NPS)	Q4 2024	65 (up from average of 60 prior year)
Retail Transaction Volume (Units)	Q2 2025	10,385 units
Retail Transaction Volume (Units)	Q1 2025	7,545 units
Inventory Turnover Days	Q2 2025	Stable at around 30 days

The retail transaction volume in Q2 2025 hit 10,385 units, a 153.9% year-over-year increase. That's a lot of happy customers.

Automated and digital support via the online platform

Alongside the in-person experience, Uxin Limited continues to strengthen its digital capabilities. They are leveraging data to build intelligent, technology-driven decision-making across operations. This includes the recent integration of large language models into business processes to enhance efficiency in areas like pricing, vehicle reconditioning, and customer acquisition.

Maintaining industry-leading customer satisfaction for five consecutive quarters

Customer satisfaction remains a top priority, as evidenced by consistent high scores. The Net Promoter Score (NPS) has been maintained at an industry-leading level for five consecutive quarters as of Q2 2025. The reported NPS figures confirm this commitment:

• NPS reached 65 in Q2 2025.
• NPS reached 65 in Q4 2024.
• One report notes the NPS rose to 66%.

Finance: draft 13-week cash view by Friday.

Uxin Limited (UXIN) - Canvas Business Model: Channels

You're looking at how Uxin Limited (UXIN) gets its product-quality used cars-to the customer as of late 2025. It's a clear mix of big physical locations and a strong digital backbone.

Large-scale offline Used Car Superstores (physical retail presence)

Uxin Limited (UXIN) establishes market leadership in selected regions through its large-format physical retail presence. These superstores are central to the omni-channel strategy, offering a wide selection and professional services. Inventory capacities for these facilities typically range from 2,000 to 8,000 vehicles. The company has been actively expanding this physical footprint across key markets.

Here's a look at the scale and recent additions to the physical network:

• Uxin Limited (UXIN) operates large-scale used car superstores in Xi'an, Hefei, Wuhan, and Zhengzhou.
• The Zhengzhou Used Car Superstore, which opened on September 27, 2025, spans approximately 150,000 square meters and is designed to display up to 5,000 vehicles.
• The Wuhan Superstore began trial operations in February 2025.

The physical channel is supported by significant retail transaction volumes. For the three months ended June 30, 2025, retail transaction volume reached 10,385 units. Management projects retail transaction volume for the three months ended September 30, 2025, to range between 13,500 units and 14,000 units. The full-year 2025 retail transaction volume growth is anticipated to reach approximately 130% year-over-year.

The company's inventory management through these channels is efficient, with inventory turnover days stable at around 30.

The expansion continues with new planned facilities:

Location	Announced Capacity (Vehicles)	Status/Role
Yinchuan	Approximately 3,000	New Superstore via partnership.
Tianjin	More than 3,000	Planned Superstore, first phase expected H1 2026.
Guangzhou	More than 3,000	New Superstore via partnership.

Pioneering online platform for nationwide customer reach

Uxin Limited (UXIN) leverages its pioneering online platform to serve customers across the nation. This digital reach complements the regional focus of the superstores. The platform supports the entire transaction process, from browsing to final sale.

Regional hubs (e.g., Tianjin for Beijing-Tianjin-Hebei area) for distribution

The large superstores are also positioned as key operational centers. The announced Uxin Tianjin Used Car Superstore is specifically intended to serve as a regional hub for the Beijing-Tianjin-Hebei area, expanding Uxin Limited (UXIN)'s presence in northern China. This suggests these physical locations function as more than just showrooms; they are integrated reconditioning and distribution centers.

Mobile applications and digital interfaces for browsing and transactions

The digital interfaces, including mobile applications, are critical for customer acquisition and service delivery. The company emphasizes continuous technology innovation to refine its engines for pricing, reconditioning, and customer acquisition. Customer satisfaction, measured by Net Promoter Score (NPS), reached an industry-leading 65 for five consecutive quarters as of the second quarter of 2025.

Key digital performance indicators as of Q2 2025:

• Net Promoter Score (NPS): 65.
• Inventory turnover days: Around 30.

Finance: draft 13-week cash view by Friday.

Uxin Limited (UXIN) - Canvas Business Model: Customer Segments

You're looking at Uxin Limited's customer base as of late 2025, which clearly splits between direct-to-consumer retail and business-to-business wholesale operations. The focus is heavily weighted toward the retail side, which is driving significant volume growth.

Retail Consumers seeking high-quality, inspected used cars

This segment is the primary engine for Uxin Limited, driven by the omni-channel strategy that leverages online platform reach with offline superstore inspection and reconditioning centers. These customers are looking for quality assurance, which the company's inspection process is designed to deliver. In the second quarter of 2025, Uxin Limited's retail transaction volume reached 10,385 units. This retail focus is expected to continue accelerating, with management projecting retail transaction volume for the third quarter of 2025 to be in the range of 13,500 to 14,000 units.

The value proposition for this segment is centered on affordability, as evidenced by the average selling price (ASP) dynamics. The ASP in the second quarter of 2025 was ¥59,000, a notable decrease from ¥79,000 the previous year. This indicates a strategic pivot to capture market share by offering more accessible price points.

Wholesale Dealers/Buyers purchasing non-retail standard vehicles

This segment consists of dealers who purchase vehicles that Uxin Limited determines do not meet their internal retail standards. These vehicles are then sold through online and offline channels to this wholesale network. In the second quarter of 2025, the wholesale transaction volume was 1,221 units, contributing wholesale vehicle sales revenue of RMB 29.9 million. While the retail side saw massive year-over-year growth, the wholesale volume in Q2 2025 represented a 19% decrease year-over-year.

Used car buyers in major Chinese economic hubs (e.g., Guangzhou, Tianjin)

Uxin Limited's physical expansion, centered around its superstore model, targets dense consumer bases in key metropolitan areas. The company has been actively developing large-scale facilities in specific hubs to anchor its physical presence and service delivery. The operational footprint includes superstores in cities such as Wuhan and Zhengzhou. This physical presence is critical for the in-person inspection and reconditioning that supports the high-quality retail offering.

Customers seeking value in the ¥59,000 average selling price range

This group is defined by their price sensitivity and focus on value, directly aligning with the current retail ASP. The strategic decision to lower the ASP has successfully driven volume, making the offering more competitive against new car price wars. Here's a quick look at the revenue split reflecting the retail focus:

Metric (Q2 2025)	Value (RMB)	Transaction Volume (Units)
Total Revenue	RMB 658 million	11,606 (Total)
Retail Vehicle Sales Revenue	RMB 607 million	10,385 (Retail)
Wholesale Vehicle Sales Revenue	RMB 29.9 million	1,221 (Wholesale)

The data shows that retail sales account for approximately 92% of the total revenue in Q2 2025, underscoring that the customer base actively seeking value in the lower-to-mid price range is the company's core target.

The key characteristics of the customer segments Uxin Limited is serving include:

• Retail customers prioritizing inspected, high-quality used vehicles.
• Wholesale dealers buying non-retail standard inventory.
• Buyers concentrated in major economic hubs with superstore access.
• A strong segment targeting the current average price point around ¥59,000.

Finance: draft 13-week cash view by Friday.

Uxin Limited (UXIN) - Canvas Business Model: Cost Structure

You're looking at the expense side of Uxin Limited's (UXIN) operations as of late 2025. Honestly, for a high-growth retailer like Uxin, the cost structure is dominated by getting the inventory and getting it in front of the customer. Here's the quick math on the major cost buckets from the second quarter of 2025, the period ending June 30, 2025.

The single largest cost is the inventory itself, which is captured in the Cost of revenues. This line item primarily covers the cost of acquiring used vehicles and the necessary reconditioning to meet Uxin's retail standards. For Q2 2025, this figure stood at RMB624.1 million. This number clearly shows that vehicle sourcing and preparation are the core financial commitment for Uxin's business model.

Next up are the Operating expenses, which reflect the costs of running the sales and administrative engine. Total operating expenses for the quarter were RMB96 million. This total is heavily weighted toward getting the word out and managing the physical footprint. We can break down the major components of that RMB96 million:

Expense Category	Q2 2025 Amount (RMB millions)	Notes
Sales and Marketing Expenses	74.2	Primarily staffing and customer acquisition efforts.
Research and Development Expenses	3.1	For digital systems and in-house engines.
Implied G&A and Other Operating Costs	18.7	Calculated as Total OpEx (96.0) minus S&M (74.2) and R&D (3.1).

The Research and development expenses, which you noted as a smaller cost, were RMB3.1 million for the quarter. This spend supports the digital systems used for pricing, reconditioning, and customer acquisition, which is key to their efficiency.

You also need to account for the cost of capital. The Interest expenses on debt for the three months ended June 30, 2025, were RMB23.1 million. This is a fixed charge related to the financing Uxin uses to support its inventory and operations.

Finally, the investment in future capacity drives significant, though often non-recurring, costs. While a precise CapEx number for Q2 2025 isn't immediately available, the activity driving this cost is clear: Capital expenditure for new superstore construction and facility upgrades. Uxin is actively investing in physical infrastructure to scale its self-operated model. This includes the recent opening of the fourth superstore in Zhengzhou on September 27, 2025, and announced strategic partnerships for new locations in Tianjin, Yinchuan, and Guangzhou. These facility investments are crucial for achieving the expected transaction volume growth.

The cost structure is clearly focused on two main areas:

• Vehicle Cost: The massive RMB624.1 million in cost of revenues.
• Customer Acquisition & Footprint: The RMB74.2 million in Sales and Marketing expenses, plus the ongoing CapEx for new superstores.

Finance: draft 13-week cash view by Friday.

Uxin Limited (UXIN) - Canvas Business Model: Revenue Streams

You're looking at how Uxin Limited actually brings in the cash, and right now, it's all about moving metal. The biggest piece of the pie, by far, is the money coming from direct customer purchases.

Retail vehicle sales revenue is the dominant stream, hitting RMB607.6 million for the three months ended June 30, 2025. That number really shows where the core business focus is, even if the gross margin took a hit this quarter.

Here's the quick math on how the total revenue stacked up for Q2 2025:

Revenue Component	Q2 2025 Amount (RMB million)
Retail Vehicle Sales Revenue	607.6
Wholesale Vehicle Sales Revenue	29.9
Other Revenue	20.8
Total Revenues	658.3

Wholesale vehicle sales revenue, which comes from selling off units that don't meet retail standards, brought in RMB29.9 million in Q2 2025. That's a definite secondary stream, supporting inventory flow.

Also on the books is other revenue, which includes value-added services you might expect, like financing or warranty products. That added up to RMB20.8 million for the quarter.

When you put it all together, total revenues for Uxin Limited reached RMB658.3 million in Q2 2025. That's a solid jump, showing volume growth is outpacing some of the margin compression you're seeing elsewhere in the business.

The overall profitability picture on those sales was tight, though. The gross profit margin for Q2 2025 landed at 5.2% on total revenues. Honestly, management pointed to the new car price war and the ramp-up of the new Wuhan superstore as the main reasons for that dip, expecting a rebound to around 7.5% next quarter.

To be fair, the revenue base is built on a few distinct activities:

• Retail vehicle sales, the primary driver.
• Wholesale vehicle sales from non-retail inventory.
• Other revenue from value-added services.

Finance: draft 13-week cash view by Friday.