NEW YORK, June 27, 2018 (GLOBE NEWSWIRE) — Uxin, Ltd. (Nasdaq:UXIN), China’s largest used car e-commerce platform, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
Uxin, which means quality and trust in Chinese, is the largest used car e-commerce platform by number of transactions and gross merchandise volume, according to iResearch. Founded in 2011, the company’s mission is to enable people to buy the car of their choice. Uxin makes it possible to discover, evaluate and transact in used cars throughout China by providing a reliable and one-stop transaction experience. The platform consists of two highly synergistic businesses: Uxin Used Car (2C) and Uxin Auction (2B). Its innovative integrated online and offline platform includes a nationwide network of over 670 service centers across more than 270 cities. Uxin is taking advantage of China’s booming used car market: used car transaction volume in China is expected to grow rapidly at a compound annual growth rate of 19% from 12.4 million in 2017 to 29.6 million by 2022, according to iResearch.
“Going public is a substantial milestone in Uxin’s history. It marks the beginning of a new and exciting phase for our company. We are thrilled to be here at Nasdaq,” said Dai Kun, Uxin’s Founder and Chief Executive Officer.
“Through its innovative approach, Uxin has transformed used car e-commerce in China and provides users with a superior experience. We are excited to welcome Uxin to join our family of industry leading companies and look forward to support their continued success,” said Nelson Griggs, President, Nasdaq Stock Exchange.
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A photo accompanying this announcement is available at http://www.globenewswire.com/