Uxin Limited announced a joint‑venture agreement with Jiangyin Huigang Qihang Investment Partnership and Jiangyin Chan Fa Ke Chuang Investment Partnership to create Uxin (Jiangyin) Intelligent Remanufacturing Co., Ltd. The new entity will serve as the foundation for a used‑car superstore in Jiangyin, a key market in the Yangtze River Delta.
The venture is structured so that Uxin (Anhui) Industrial Investment Co., Ltd. holds a 68% stake, contributing RMB 68 million, while each state‑owned partner holds 16% and contributes RMB 16 million. The registered capital of the new company is RMB 100 million, reflecting a balanced partnership that combines Uxin’s reconditioning expertise with local state‑owned support.
The partnership is designed to position the Jiangyin superstore as a regional hub for used‑vehicle distribution and services. Jiangyin’s population exceeds 30 million and the surrounding 100‑kilometer radius hosts more than 12 million vehicles, making it an attractive high‑density market for Uxin’s omni‑channel model. By leveraging state‑owned partners, Uxin gains local regulatory support, capital access, and a foothold in a region where it has already opened superstores in Wuhan, Zhengzhou, and Jinan.
Uxin’s recent financial performance underscores the strategic timing of the JV. In the third quarter of 2025, the company reported total revenue of RMB 879.3 million, up 77% year‑over‑year and 34% quarter‑over‑quarter, driven largely by a 84% rise in retail revenue to RMB 820 million. Gross margin improved to 7.5% from 7% a year earlier, reflecting better pricing power and cost control. The company also secured a $50 million investment from NIO Capital and Prestige Shine Group Limited, a move that strengthens its balance sheet amid a negative Altman Z‑Score and ongoing net losses.
Segment data shows that retail transaction volume surged 134% year‑over‑year to 14,020 units, while wholesale volume fell 19% to 1,221 units. The retail growth reflects strong demand for Uxin’s reconditioned vehicles and digital sales platform, whereas the wholesale decline indicates a shift in the company’s channel mix toward higher‑margin retail operations. The JV will further support this shift by providing a dedicated retail hub in a high‑density market, potentially boosting retail volume and margin contribution.
The joint‑venture aligns with Uxin’s broader expansion strategy, which includes new superstore openings in Tianjin, Yinchuan, and Guangzhou. By partnering with state‑owned enterprises, Uxin can accelerate deployment, reduce regulatory friction, and secure local capital, positioning it to capture a larger share of the rapidly growing used‑car market in the Yangtze River Delta.
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