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Uxin reports Unaudited financial results for the first quarter of 2019

Beijing, June 10, 2019 (GLOBE NEWSWIRE) – Uxin Limited ("Uxin" or "Company") (Nasdaq: UXIN), China's largest used automotive dealership, announced in the present day its unaudited results

Modifications in Sure Performance Indicators [19659003] From the first quarter of 2019, Uxin will solely announce the number of transactions and corresponding transactions generating GMV income to raised mirror the company's capacity to extend cash stream and develop its inter-area and intra-regional providers. This new disclosure technique has been utilized to transaction volume, GMV and change price calculations and all comparable annual comparisons discussed in this revenue assertion

First Quarter 2019 Operational Highlights

  • Transaction Volume The 2C enterprise grew to 78,277 models in the first quarter of 2019, progress from the earlier 39.6%
    of transactions between the similar period of the yr increased to 20,647 models in the first quarter of 2019, representing an annual progress of 48 occasions.
    – The intra-region transaction volume elevated to 57,630 models in the first quarter of 2019, up three.6% on the earlier yr.
  • The transaction quantity of enterprise 2B decreased to 36,522 models in the first quarter of 2019, down 42.6% year-on-year on account of the firm's transformation to serve shoppers in the automotive trade and the rising urge for food of retailers in retail trade
  • GM's 2C enterprise elevated to RMB8.892 million in the first quarter of 2019, a rise of 61.5 % in comparison with the similar period last yr
    . compared to 2 288 million RMB in the first quarter of 2019, equivalent to a 33-year improve in comparison with the previous yr.
    – Domestic Enterprise GMV grew in the first quarter of 1996 to EUR 6,624 million, which corresponds to 2003
  • GMB business 2B declined to 1,851 million RMB in the first quarter of 2019, which is 39.eight % less than a yr ago beforehand
  • . 74 579 used automotive trade financing in the first quarter of 2019, or 63.8% in comparison with the previous yr
  • M3 + liquidity ratio1 was 1.45% as of March 31, 2019, comparatively secure compared to 1.41% at 31 December 2018. [19659011] First Quarter 2019 Financial Highlights

    • Complete revenue was $ 1,003.9 million ($ 149.1 million) in the first quarter of 2019, up 54.6 % on the previous yr.
      – 2C Interregional Business Turnover was RMB 284.three million ($ 42.2 million). in the first quarter of 2019, which has increased 54 occasions compared to the previous yr.
      – The turnover of the 2C inner enterprise was RMB598.5 million ($ 88.9 million) during the first quarter of 2019. – Annual progress of 33.three%
      – Internet gross sales of Business 2B amounted to EUR 69.6 million. EUR 19.3 million ($ 10.three million) in the first quarter of 2019, down 36.2% on the previous yr
    • Gross margin was RMB707 0.15 million ($ 105.1 million) in the first quarter of 2019, which is 65 , 6 % more than a yr earlier. Gross margin rose to 70.5 per cent in the first quarter of 2019, compared with 65.8 per cent in the earlier yr.
    • Operating loss was RMB 261.2 million ($ 38.eight million) in the first quarter of 2019 compared to RMB452. EUR zero.9 million in the similar interval last yr.
    • Adjusted non-GAAP working losses totaled RMB207.5 million ($ 30.8 million) in the first quarter of 2019, compared with RMB450.5 million final yr.
    • Internet loss was RMB285.0 million ($ 42.3 million) in the first quarter of 2019 in comparison with the similar period final yr (RMB839.4 million). Internet loss as a proportion of complete internet sales was 28.four% in the first quarter of 2019, down by 129.3% year-on-year.
    • The non-GAAP adjusted internet loss was RMB231.3 million (34.three million in the first quarter of 2019 compared with million in the corresponding period of the earlier yr. The non-GAAP adjusted internet loss as a proportion of complete revenue was 23.0% for 2019 Uxin's founder, chairman and CEO Kun Dai stated: “We are excited to start out the yr by giving one other robust quarter of progress, with complete revenue exceeding the excessive finish of our steerage. Business progress continued at a robust tempo in the fourth quarter at its peak, with over 20,00zero second-hand automobiles recorded in the first quarter, almost 50 occasions greater than last yr. Interregional enterprise is enjoying an more and more essential position in boosting the general progress of our 2C enterprise. In the fourth quarter, inter-regional transactions elevated by 26% of complete 2C turnover and 32% of 2C complete income. each percentages have been just one% in the similar period final yr. "

      . Dai added: “In recent years, we have continuously developed Uxin's business model to better meet consumer demand and have grown rapidly both in terms of transaction volume and revenue. With the expansion of our business, we focus on achieving more sustainable growth by implementing the following three initiatives. First of all, we continue to transfer resources to inter-regional business where we see great market opportunities. In addition to targeting this remarkable growth potential, our strategic focus on regional transactions will enable us to achieve better returns and take us one step closer to profitability. Secondly, we will continue to improve the efficiency of our operations by adopting a stricter approach to cost management and cost management. Thirdly, we introduce stricter risk management procedures and concentrate our resources on the assets of used cars with better risk profiles. This will ensure that we build a stronger foundation and improve cash flow. When we are committed to these strategic initiatives and continue to value our proposals, we are convinced that we can expand our market leadership in China and build sustainable business in the long term. ”

      Lord. Uxin Chief Financial Officer Zhen Zeng stated: “We are delighted to see another quarter of our rapid growth in our 2C business, and similar sales increased by 94% to RMB883 million in the first quarter. The growth in inter-regional business clearly exceeded the total amount of 2C business, with associated revenues of 54 times higher than in the previous year, amounting to EUR 284 million. In addition, the gross margin improved from 66 per cent in the corresponding period last year to higher economies of scale and effective cost management. In addition, we received an operating leverage effect during the quarter, which allowed us to calculate the adjusted net loss of over 50% from the previous year to EUR RMB231 million and to reduce significantly the adjusted net loss as a percentage of total income to 23%. 74% over the same period last year. In the future, we will take more cautious measures to manage costs and manage costs, maximize the impact of every dollar spent, and further optimize our operational efficiency. We are convinced that this will lead to sustainable growth, a better position for profitability and long-term value for our shareholders. ”

      First Quarter 2019 Financial Results

      Complete Income Increased to RMB1,003.9 million ($ 149.1 million) in the First Quarter of 2019, a rise of 54.6 % on the previous yr's RMB649.4 million, was primarily on account of 2C transaction volume, GMV, transaction facilitation 2 and facilitated loans

      2C Business: 2C Business Turnover in Q1 2019 increased to RM2882.9 million ($ 131.1 million), representing 94, 4% improve from the earlier yr's RMB 454.1 million. [19659024] Turnover of 2C inter-regional business amounted to RM428.three million ($ 42.2 million) in the first quarter of 2019, representing a big improve of 54 occasions from RMB5.2 million in the corresponding interval final yr. The inter-regional transaction volume elevated 48 occasions a yr, reaching 20,647 models in the first quarter of 2019, and its corresponding GMV grew 33 occasions a yr and amounted to RMB 2,268 million.
      In the first quarter of 2019, the facilitation of transactions was RMB140.0 million ($ 20.8 million), representing a rise of 47 % from RMB2.9 million in the corresponding interval of the earlier yr, primarily as a consequence of an increase in the sales volume of GMV. and the facilitation of buying and selling will introduce used automobiles bought by means of inter-regional business. Improved service, consumer expertise and better pricing power will benefit from facilitating inter-regional transactions to six.2 % throughout the quarter, compared with 4.4 % last yr.
      – The inter-regional mortgage facilitation was EUR 2014.3 million ($ 21.4 million) in the first quarter of 2019, representing an increase of 64 % from the previous yr's 2.2 million RMB, mainly because of the amount of the financial transaction and loans. improve in quantity. in addition to facilitating credit score, considering used automobiles facilitated by interregional providers. The inter-regional mortgage facilitation, measured by the inter-regional mortgage aid revenue divided by the corresponding GMV of used automobiles, was 6.four per cent in the first quarter of 2019, a rise of three.three per cent final yr.

    • Turnover of 2C's inner enterprise was RMB598.5 million ($ 88.9 million) in the first quarter of 2019, up 33.3 % on the similar interval final yr. The intra-regional transaction quantity elevated by three.6% from the earlier yr to 57,630 models in the first quarter of 2019, and its corresponding GMV grew by 21.8% compared to the earlier yr to EUR 6,624 million.
      – Intra-regional Enchancment of Occasions during the first quarter of 2019 was RMB 168.four million ($ million), up 82.7 per cent on the similar period final yr, primarily on account of the facilitation of transactions and the progress of GMV. Increased service and user-generated pricing energy because of increased pricing power inside the area increased to 2.5 % in the quarter, compared with 1.7 % in the earlier yr
      – Intra-region Loan aid was RMB430 in the first quarter of 2019 , EUR 1 million ($ 63.9 million), an increase of 20.6 per cent on the corresponding period final yr, primarily as a result of a rise in the quantity and volume of financial transactions. Loans for second-hand automobiles bought by way of regional providers The facilitation of intra-regional loans, measured by the income generated by the use of regional used automotive loans divided by the corresponding GMV of used automobiles, was 5.9% in the first quarter of 2019, which remained secure at the similar time final yr.

    Business 2B:

    • The 2B business facilitation turnover was € 69.6 million ($ 10.3 million) in the first quarter of 2019, representing a lower of 36.2 % on the previous yr resulting from the decline in transaction volume. . The transaction volume of business 2B decreased by 42.6% in comparison with the earlier yr and was 36,522 models in the first quarter of 2019, as the company changed its strategy to serving shoppers from the automotive commerce wants from the third quarter of 2018 onwards. as well as the growing urge for food of retailers for retailing by way of the company's 2C platform. GMV 2B enterprise fell to RMK1 851 million in the first quarter, down 39.eight% on the earlier yr. The easing of 2B trading increased to 3.eight% in the first quarter, compared with three.5% in the similar interval final yr as a consequence of Uxin's growing pricing power.

    Revenue prices elevated to MEUR 296.3 $ million) in the first quarter of 2019, a rise of 33.3 % on the previous yr's RM222.three million, primarily as a result of larger value of possession, switch of possession and registration. Transaction Quantity and Improve in Salaries and Benefits for Staff Involved in Automotive Inspection, High quality Management, Buyer Service and Maintenance

    Gross margin rose to EUR 707.5 million ($ 105.1 million) in the first quarter. quarter, an increase of 65.6% compared to the similar interval last yr. Gross margin rose to 70.5 per cent from the first quarter of 2019, from 65.eight per cent compared with the similar interval final yr.

    Complete working expenses amounted to RMB968.eight million ($ 143.9 million) in the first quarter of 2019. claims bills amounted to million

    • Sales and advertising bills increased slightly by 7.6% on the previous yr and amounted to EUR 681.2 million in the first quarter of 2019. Advertising costs mirror the company's ongoing efforts to improve efficiency and improve conversion charges. Gross sales and advertising costs as a proportion of complete revenue fell to 67.9% from 97.5% in the corresponding interval final yr.
    • Common and administrative bills increased by 16.5 % on the earlier yr and amounted to EUR 2017 million ($ 27.9 million) in the first quarter of 2019. The rise was mainly on account of an increase in share-based compensation expenses. Basic and administrative expenses, excluding RMB53.2 million per share compensation prices, amounted to RMB134.6 million, similar to 13.four % of complete income and decreased from 24.5 % on the corresponding period last yr.
    • Research and improvement expenses elevated by 17.5 % compared to the first quarter of 2012 and have been $ 80.0 million ($ 11.9 million). The rise was primarily as a consequence of larger wage and profit costs. Research and improvement prices excluding compensation bills per share RMB0.6 million The euro was RMB79.four million. Euro, which represented 7.9% of complete turnover and declined from 10.5% in the similar interval last yr
    • Losses because of liability totaled RMB 19.8 million (US $ 2.9 million) in the first quarter of 2019, as a consequence of the fluctuation of the crime in the fourth quarter of 2018.

    Operating loss was RMB261.2 million ($ 38.eight million) in the first quarter of 2019, down from the similar interval last yr.

    The non-GAAP adjusted working loss of RMB207.5 million ($ 30.eight million) in the first quarter of 2019 decreased from the corresponding interval last yr.

    The change in the truthful worth of by-product liabilities was zero in the first quarter of 2019 compared to the similar period final yr, amounting to RMB 359.1 million. The impact of by-product contracts is not on account of the conversion of most popular shares into odd shares at the time of listing

    The web loss was RMB million ($ 42.three million) in the first quarter of 2019. RMB839.four million from the similar period final yr. The lower in internet loss was mainly because of the greater working capital of the company and the decrease in the loss on truthful value of by-product financial liabilities

    Non-GAAP adjusted internet loss excluding share-based compensation bills of RMB53.7 million. , was RMB231.three million ($ 34.3 million) in the first quarter of 2019, down from RMB478.0 million in the similar period last yr

    As of March 31, 2014, the firm had money and money equivalents of RMB454.9 million (EUR 67.6 million). USD), short-term investments in the type of other investment merchandise, RMB597.5 million ($ 88.7 million), and limited cash RMB2 025.four million ($ 300.8 million)

    Current replace
    The company just lately made a convertible bond a purchase order agreement with, Warburg Pincus, TPG and certain other buyers that Uxin points and sells convertible bonds for a total of US $ 230 million by means of a personal placement. The deal is predicted to be close. The corporate and have additionally made strategic cooperation among others. In the subject of transport and inventory acquisition, used automotive inspection, giant knowledge analysis and SaaS

    Business outlook
    As a way to achieve extra sustainable progress, the company plans to focus extra on its core enterprise and further broaden cross-regional providers, take extra stringent measures to scale back prices. to manage and handle prices to improve operational effectivity and a more rigorous strategy to danger administration to improve asset quality and cash move [19659019] Considering the influence of these measures, Uxi expects complete income for the second quarter of 2019 to be RMB900 million RMB950 million. This forecast reflects the company's current and preliminary views on the market and operating circumstances which will change.

    1 M3 + is defined as the remaining principal stability of used automotive loans, which was 90 or extra calendar days late. The share of the complete outstanding capital of used automotive loans facilitated the Firm's 2C enterprise (including subordinated loans that it paid to the financial counterparties as a assure to the financiers).
    2 measured by 2C / 2B automotive business turnover divided by 2C / 2B automotive enterprise with GMV

    Convention call
    The corporate's management organizes a convention name at eight:00 am in June. 10, 2019 US Japanese Time (20:00, June 10, 2019, Beijing / Hong Kong time).

    Name Info for the Performance Bonus are as follows:

    US: +1 866 519 4004 or +1 845 675 0437
    Worldwide: +65 6713 5090
    Mainland China: 400 620 8038 or 800 819 0121
    Hong Kong: ] 800 906 601 or +852 3018 6771
    Convention ID: 4478162

    As well as, a stay and archived webcast of a convention call is on the market on the firm's Investor Relations web site at http: // com

    The conference name is obtainable roughly one hour after the finish of the direct call until June 25, 2019 by calling the following phone numbers:

    US: +1 646 254 3697 International: +61 2 8199 0299 Conference ID: 4478162

    Uxin [1965994] Uxin Limited (Nasdaq: UXIN) is China's largest e-commerce e-commerce discussion board. Uxin's job is to let individuals purchase the automotive they need, regardless of the place they’re or the place their price range is. Uxin provides shoppers and resellers the alternative to purchase and sell automobiles by way of an revolutionary, integrated on-line and offline platform that offers with every stage of the event and covers the whole value chain. Its on-line presence is supported by more than 1,300 on-line service offline networks in over 400 prefectural cities throughout China.

    Use of Non-GAAP Financing Operations
    When evaluating and evaluating an organization, the non-GAAP measure, adjusted for loss from operations, adjusted internet loss, and adjusted internet loss per share, as a complementary measure to guage and consider its efficiency. The presentation of a non-GAAP financial measure shouldn’t be meant to be treated individually or to switch the financial info prepared and introduced in accordance with the US GAAP. The corporate defines the adjusted loss for an operation that does not embrace share-based compensation. The company determines the internet (loss) / revenue of the adjusted internet loss without share-based compensation and the change in truthful value of by-product liabilities. The corporate introduces a non-GAAP financial measure because management uses it to evaluate the working circumstances and to organize enterprise plans. The adjusted internet loss provides administration the alternative to estimate the company's working profit with out making an allowance for the results of the change in the truthful value of share-based compensation and by-product contracts which are money funds. The company also believes that the use of a non-GAAP measure will facilitate buyers' assessment of its operations.

    The non-GAAP financial transaction isn’t outlined in US GAAP and is not reported underneath US GAAP. The non-GAAP financial measure has limitations as analytical tools. One of the primary limitations of utilizing an adjusted internet loss is that it doesn’t correspond to all gadgets of revenue and expense that have an effect on the company's operations. Share-based compensation and modifications in truthful value of by-product liabilities have been, and should proceed to be, in enterprise and are usually not reflected in the presentation of adjusted internet loss. As well as, non-GAAP might deviate from the use of non-GAAP knowledge by different corporations, together with peer-to-peer corporations, and should subsequently have restricted comparability. the closest US GAAP performance measurement, all of which have to be taken under consideration when assessing the firm's operations. The company encourages you to evaluation the financial info in its entirety and never rely on a single financial measure

    Coordinating Uxin's non-GAAP financial measures with the United States' most comparable GAAP measure is at the finish of this press launch. 19659019] Foreign money Trade Charges
    This announcement consists of translations of sure RMB amounts into US dollars ("US $") at sure prices solely for the convenience of the reader, except for the amount of transactions truly paid in US dollars. Until in any other case said, all translations from RMB to US $ have been made at RMB6.7468 for $ 1.00, which represents the fee at the end of March 2019 set by the Individuals's Financial institution of China. The corporate doesn’t claim that the RMB or US $ quantities could possibly be converted into US dollars or RMB, on any case or at all.

    Protected Harbor Statement
    This announcement incorporates spectacular statements. These statements will probably be made in accordance with the provisions of the 1995 United States Personal Safety Settlement Act (Protected Harbor). These forward-looking statements may be recognized by terminology reminiscent of "will", "wait", "anticipate", "future," "time", "plans", "believe", "estimates" and comparable statements. Enterprise prospects and administration's announcements, and Uxin's strategic and operational plans embrace forward-looking statements. Uxin can also make written or oral prospects in its statements to the SEC, in its annual report back to shareholders, in press releases and different written materials, and in oral statements made by its officers, executives or staff to 3rd events. Statements that aren’t historical details, including statements about Uxin's beliefs and expectations, are forward-looking statements. Ahead statements embrace inherent dangers and uncertainties. A quantity of elements might result in a big distinction in precise results from the results of the future opinion, including: Uxin's objective and methods; its enlargement plans; its future enterprise improvement, financial standing and performance results; Uxin's expectations of market demand for and acceptance of its providers; its capability to offer a differentiated and wonderful buyer expertise, keep and enhance customer confidence in its platform, and consider and mitigate numerous dangers, including credit score; its expectations of maintaining and expanding relationships with enterprise partners, together with financial companions; Digital commerce used in China; Uxin Business Legal guidelines and Laws; common financial and business circumstances; and the above or associated assumptions. More details about these and different risks is included in Uxin's SEC alerts. All info given on this press release and in the notes is after the date of this press launch, and Ux just isn’t obliged to replace the potential assertion except in accordance with applicable regulation

    . contact:
    Nancy Music
    Uxin Investor Relations
    Tel: +86 10 5691-6765
    E mail:

  • Contact:
    Yi Ke Hong
    Brunswick Group
    Tel: +86 10 5960-8600

    19659358 Restricted Unaudited consolidated financial statements for complete losses (Hundreds Besides Quantity of Shares and Share-based Info) [MonthsEnded31March 2018 2019 RMB 659106] RMB US $ Revenue For Shoppers (“2C”) – Areas 5,152 5,152 ] 284,315 42,224 – Revenue Facilitation of Occasions 2 927 [19659139 20 793 20 793 20 793 2.225 ] 144,304 21,431 Intra-Shopper Areas (2C) 448, 941 448.941 448.941 ] 598.537 88.889 – Facilitating Occasions 92,208 168,433 25,014 [19659139] 25,014 [19659139] 25,014 356,733 [19659989] 430,104 [19659139] 63 875 5] to corporations ( "2B") 109 045 69,556 10,330 – Facilitating Events – Facilitating Commerce 69,556 [19659139] Other 86,302 51,476 51,476 649,440 [1965902]

[ (296,348 ) (44,011 ) Gross 427 154 [19659129[1965902] [196591] 96] Sales and Advertising Sales and Advertising (19659231) (681, 1667 ) (101.164 ) (161,208 ) [ ] (27,894 ) Research and Improvement (68,063 ) ) (11 874 ) Default Losses (17,665 ) (19,825 ) [196] 59122] (880.007 ) (968,769 ) (143,873 ) ] Loss of Perform (452,853 ) (261,233 ) ( 38,796 ) 19659196] e xpenses (21,723 ) [19659089](32,019 ) (4,755 ) Muut (kulut) / tulot Muut (menot) / tulot (3 950 ) 19659126] [19659089]17 070 2 535 Valuuttakurssivoitot / tappiot 1,225 ( 1939) ) Johdannaissopimusten velkojen käyvän arvon muutos (359,115 ) – – Tappio ennen veroja (836,416 ) (276,961 ) (41,132 ) Tuloverot (three zero21 ) (2 076 ) Osuus tytäryhtiöiden voitoista – 5 956 885 885 885 (839,437 [19659181]) (284,983 ) (42,323 ) osakkeenomistajien määräysvalta (7,734 ) (445 ) (66 ) UXIN LIMITED: n tappio (831,703) [1965980] )     (284,538[19659129])   (42,257 ) Accretion on redeemable most popular shares   (157,539 )     –   [19659124]  –    Deemed dividend to most popular shareholders   (544,773 )     –      –         [19659196]    Internet loss attributable to odd shareholders   (1,534,zero15 )     (284,538 )   (42,257[1 9659392])           Internet loss   (839,437 )     (284,983 )   (42,323 ) Overseas foreign money translation   12,135       6,zero27     895             Complete complete loss   (827,302 )     (278,956 )   (41,428 ) Less: complete complete loss attributable to non-controlling interests shareholders   (7,755 )     (445 )   (66 ) Complete complete loss attributable to Uxin’s shareholders   (819,547 )     (278,511 )   (41,362 )           Internet loss attributable to strange shareholders   (1,534,015 )     (284,538 )   (42,257 ) Weighted average shares outstanding – primary   49,318,860       881,704,zero14     881,704,zero14   Weighted average shares outstanding – diluted   49,318,860       881,704,zero14[19659139]    881,704,014   Internet loss per share – primary   (31.10 )     (0.32 )   (0.05 ) Internet loss per share – diluted   (31.10 )     (0.32 )   (0.05 )           * Share-based compensation costs included are as follows:               For the three month s ended March 31,   2018   2019   RMB   RMB US$ Value of income –     –   –   Sales and advertising –     –   –   Basic and administrative (2,331 )[19659399]  (53,170 ) (7,896 ) Analysis and improvement –     (552 ) (82 )                     Uxin Restricted Unaudited Consolidated Stability Sheets  (In hundreds except for number of shares and per share knowledge)             As of December 31,  [19659569]As of March 31,   2018   2019 RMB   RMB US$ ASSETS         Present belongings         Money and cash equivalents   800,997       454,890     67,556   Restricted money   2,013,030       2,zero25,382     300,792   Accounts receivable   51,610       54,441     8,085   Brief-term investments   596,078       597,474     88,732   Advance to shoppers on behalf of financing partners   521,908       357,731     53,127   Loan recogn ized consequently of cost beneath the guarantee, internet   553,688       769,127     114,224   Advance to sellers   692,714       665,915     98,896   Other receivables, internet   707,404       741,974     110,191  [19659236]Inventory   19,380       15,773     2,344   Pay as you go expenses and different current belongings   417,314       316,268     46,969   Financial lease receivables, internet   294,511       166,862     24,781   Complete present belongings   6,668,634       6,165,837     915,697 [1 9659181]            Non-current belongings         Property, gear and software program, internet   199,271       181,769     26,995   Intangible belongings, internet   21,179       18,958     2,815  [1 9659236]Goodwill   110,424       110,424     16,399   Long run investments   349,882       354,596     52,661   Working lease right-of-use belongings, internet (1)   –        267,709     39,758   Complete non-current belongings   680,756       933,456     138,628 [19659181]            Complete belongings   7,349,390       7,099,293     1,054,325             LIABILITIES AND SHAREHOLDERS’ EQUITY         Present liabilities        [19659236]Brief-term borrowings   624,588       515,106     76,499   Accounts payable   156,320       157,474     23,387   Assure liabilities   321,255       426,432     63,330   Deposit of interests from shoppers and payable to financing companions – current   482,827       299,168[19659125]    44,430   Advance from consumers collected on behalf of sellers   375,803       204,141     30,317   Different payables and accruals   1,197,300       1,395,648     207,269   Deferred revenue   115,160       64,632     9,599   Convertible bonds   1,188,192       1,165,737     173,125   Working lease legal responsibility, present (1)   –        62,281     9,249   Complete present liabilities   four,461,445       four,290,619     637,205             N on-current liabilities         Lengthy-term borrowings   481,801       452,542     67,208   Deposit of interests from shoppers and payable to financing partners – non-current   29,742       21,903     three,253   Deferred tax liabilit ies   four,759       4,278     635   Working lease liability, non-current (1)   –        183,529     27,256   Complete non-current liabilities   516,302       662,252     98,352             Complete liabilities   4,977,747       4,952,8 71     735,557             Shareholders’ fairness         Peculiar shares   575       577     86   Further paid-in capital   12,967,986       13,021,718  [19659237]  1,933,871   Accrued different complete revenue   86,061       92,088     13,676   Accrued fairness   (10,680,489 )     (10,965,zero27 )   (1,628,429 ) Complete Uxin’s shareholders’ fairness   2,374,133       2,149,356     319,204   Non-controlling interests   (2,490 )  [1 9659180]  (2,934 )   (436 ) Complete shareholders’ equity   2,371,643       2,146,422     318,768             Complete liabilities and shareholders’fairness   7,349,390       7,099,293     1,zero54,325 [19659257]            Notice:         (1) The Firm adopted ASC 842 utilizing the further transition technique with an effective date of January 1, 2019 for leases that existed on that date. Prior period results continue to be introduced underneath ASC 840 based mostly on the accounting requirements originally in effect for such durations. No cumulative impact adjustment to the opening stability of retained earnings was required.

Uxin Limited
Unaudited Reconciliations of GAAP And Non-GAAP Results 
(In hundreds except for number of shares and per share knowledge)
  For the three months ended March 31,
2018   2019
Loss from operations   (452,853 )     (261,233 )   (38,796 )
Add: Share-based compensation expenses   2,331       53,722     7,978  
–  Value of income       –      –   
–  Gross sales and advertising       – [19659125]    –   
–  Common and administrative   2,331       53,170     7,896  
–  Research and improvement       552     82  
Non-GAAP adjusted loss from operations (450,522 )   (207,511 ) (30,818 )
  For the three months ended March 31,
2018   2019
Internet loss (839,437 )   (284,983 ) (42,323 )
Add: Share-based compensation bills 2,331    [19659124]53,722   7,978  
– Value of income       –     –  
– Sales and advertising       –     –  
– Basic and administrative 2,331     53,170   7,896  
– Research and improvement     552   82  
Truthful value change of by-product liabilities 359,115       –     –  
Non-GAAP adjusted internet loss (477,991 )   (231,261 ) (34,345 )
Non-GAAP adjusted internet loss per share – primary (9.69 )   (zero.26 ) (zero.04 )
Non-GAAP adjusted internet loss per share – diluted (9.69 )   (zero.26 ) (zero.04 )
Weighted average shares outstanding – primary  49,318,860     881,704,014   881,704,014  
Weighted common shares outstanding – diluted  49,318,860     881,704,zero14   881,704,zero14  
Observe: The conversion of Renminbi (RMB) into U.S. dollars (USD) is predicated on the certified trade price of USD1.00 = RMB6.7335 as of the finish of March 2019 stipulated by the Individuals’s Bank of China.