=Uxin (UXIN) : financing transaction of up to US$315 million

 

Uxin entered into definitive agreements with NIO Capital and Joy Capital - agreed to invest a total of up to US$315 mln in the company

Concurrently, the Company has agreed with its convertible notes holders, including 58.com, TPG and Warburg Pincus, to convert their convertible notes in an aggregate principal amount of US$69 million into Class A ordinary shares of the Company. Over ten important investors, including NIO Capital, Joy Capital and the above mentioned convertible notes holders will agree not to sell their shares in the Company in the next nine months. The transaction is subject to customary closing conditions stipulated in the agreements.

=Uxin (UXIN) reported earnings on Thur 14 March 19 (b/o)

Uxin beats by RMB 0.64, beats on revs; guides Q1

• Reports Q4 (Dec) loss of RMB 0.27 per share, excluding non-recurring items, RMB 0.64 better than the two analyst estimate of (RMB 0.91); revenues rose 61.6% year/year to RMB 1.14 bln vs the RMB 1.06 bln single analyst estimate.
• "With the Company's great efforts in executing 2C business initiatives, cross-regional transactions experienced exponential growth towards the end of 2018, and started to contribute an increasingly significant portion of transaction volume as well as revenues."
• Co sees Q1 revs of RMB 900-950 mln (no estimates)