Technology

Uxin Reports Unaudited Financial Results for the Quarter Ended March 31, 2026

Published

3 months ago

June 16, 2026

BEIJING, June 16, 2026 /PRNewswire/ — Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), China’s leading used car retailer, today announced its unaudited financial results for the quarter ended March 31, 2026.

Highlights for the Quarter Ended March 31, 2026

Transaction volume was 18,211 units for the three months ended March 31, 2026, representing a decrease of 15.8% from 21,634 units in the last quarter and an increase of 120.4% from 8,264 units in the same period last year.Retail transaction volume was 16,530 units, representing a decrease of 13.7% from 19,160 units in the last quarter and an increase of 119.1% from 7,545 units in the same period last year.Total revenues were RMB1,073.7 million (US$155.6 million) for the three months ended March 31, 2026, representing a decrease of 10.4% from RMB1,197.9 million in the last quarter and an increase of 112.9% from RMB504.2 million in the same period last year.Gross margin was 7.0% for the three months ended March 31, 2026, compared with 6.8% in the last quarter and 7.0% in the same period last year.Loss from operations was RMB66.6 million (US$9.7 million) for the three months ended March 31, 2026, compared with RMB58.7 million in the last quarter and RMB35.3 million in the same period last year.Non-GAAP adjusted EBITDA[1] was a loss of RMB34.3 million (US$5.0 million), compared with a loss of RMB27.2 million in the last quarter and a loss of RMB8.9 million in the same period last year.

[1] This is a non-GAAP measure. We believe non-GAAP measures help investors and users of our financial information understand the effect of adjusting items on our selected reported results and provide alternate measurements of our performance, both in the current period and across periods. See our Financial Supplement, furnished as Exhibit 99.1 to our Current Report on Form 6-K on June 16, 2026 with the SEC, “Unaudited Reconciliations of GAAP And Non-GAAP Results” for a reconciliation and additional information on non-GAAP measures.

Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin, commented, “In the first quarter of 2026, despite the seasonal impact of the Chinese New Year holiday, our retail transaction volume still reached 16,530 units, up 119% year over year, marking the eighth consecutive quarter of year-over-year growth above 110%. We also maintained a high quality of growth across our business. Our inventory turnover days for vehicles available for sale remained stable at approximately 30 days, gross margin stayed stable, and our net promoter score (NPS) further improved to 68, and customer satisfaction and brand reputation remain at industry-leading levels.”

Mr. Dai continued, “In March, our Tianjin Superstore commenced operations, bringing the number of superstores in operation to six. With the continued ramp-up of our existing superstores and the planned opening of additional superstores, we remain confident in achieving retail transaction volume growth of more than 100% year over year for full-year 2026.”

Mr. Feng Lin, Chief Financial Officer of Uxin, stated, “In the first quarter of 2026, retail transaction volume and revenue experienced a normal sequential decline due to the Chinese New Year holiday season, while our overall business achieved a strong year-over-year growth. Total revenue reached RMB1.07 billion, up 113% year over year. In particular, our retail vehicle sales revenue was RMB1.01 billion, representing a 118% increase year over year. Gross margin was 7.0%, an improvement of 0.2% from the prior quarter. The non-GAAP adjusted EBITDA loss was RMB34.3 million for the first quarter, primarily reflecting the upfront investments associated with the ramp-up of new superstores and the continued build-out of our superstore teams. As our existing superstores continue to mature, we expect the operating leverage to improve over time, supporting continued growth in both revenue and profitability.”

Financial Results for the Quarter Ended March 31, 2026

Total revenues were RMB1,073.7 million (US$155.6 million) for the three months ended March 31, 2026, representing a decrease of 10.4% from RMB1,197.9 million in the last quarter and an increase of 112.9% from RMB504.2 million in the same period last year. The quarter-over-quarter decrease was mainly due to the decrease in retail vehicle sales revenue. The year-over-year increase was mainly due to the increase in retail vehicle sales revenue.

Retail vehicle sales revenue was RMB1,015.0 million (US$147.1 million) for the three months ended March 31, 2026, representing a decrease of 10.1% from RMB1,129.0 million in the last quarter and an increase of 118.0% from RMB465.5 million in the same period last year. For the three months ended March 31, 2026, retail transaction volume was 16,530 units, representing a decrease of 13.7% from 19,160 units last quarter and an increase of 119.1% from 7,545 units in the same period last year. The quarter-over-quarter decrease in retail vehicle sales revenue was mainly due to the decrease in retail transaction volume resulting from seasonality. The Chinese New Year holiday lasted from February 15 to 23 in 2026, which is the traditional used car off-season. The year-over-year increase was mainly due to the increase in retail transaction volume by 119.1%, the rapid growth in sales volume was primarily driven by the Company’s new superstores in Wuhan, Zhengzhou and Jinan, which commenced trial operations in February, September and December 2025, respectively. Additionally, our established superstores in Xi’an and Hefei continued to deliver robust growth.

Wholesale vehicle sales revenue was RMB27.9 million (US$4.0 million) for the three months ended March 31, 2026, compared with RMB38.2 million in the last quarter and RMB22.5 million in the same period last year. For the three months ended March 31, 2026, wholesale transaction volume was 1,681 units, representing a decrease of 32.1% from 2,474 units last quarter and an increase of 133.8% from 719 units in the same period last year. Wholesale vehicle sales represent vehicles purchased by the Company from individuals that do not meet the Company’s retail standards and are subsequently sold through online and offline channels.

Other revenue was RMB30.8 million (US$4.5 million) for the three months ended March 31, 2026, compared with RMB30.7 million in the last quarter and RMB16.2 million in the same period last year.

Cost of revenues was RMB998.6 million (US$144.8 million) for the three months ended March 31, 2026, compared with RMB1,117.0 million in the last quarter and RMB468.9 million in the same period last year.

Gross margin was 7.0% for the three months ended March 31, 2026, compared with 6.8% in the last quarter and 7.0% in the same period last year. The Company’s gross margin remained relatively stable.

Total operating expenses were RMB142.1 million (US$20.6 million) for the three months ended March 31, 2026. Total operating expenses excluding the impact of share-based compensation were RMB132.6 million.

Sales and marketing expenses were RMB115.8 million (US$16.8 million) for the three months ended March 31, 2026, representing a decrease of 5.3% from RMB122.3 million in the last quarter and an increase of 87.6% from RMB61.7 million in the same period last year. The quarter-over-quarter decrease was mainly due to the decreased salaries for the sales teams. The year-over-year increase was mainly due to the increased employee compensation for the sales teams as a result of the increase in headcount.

General and administrative expenses were RMB23.4 million (US$3.4 million) for the three months ended March 31, 2026, representing an increase of 2.7% from RMB22.8 million in the last quarter and an increase of 27.5% from RMB18.3 million in the same period last year. The year-over-year increase was mainly due to the increased employee compensation as a result of the increase in superstores.

Research and development expenses were RMB2.9 million (US$0.4 million) for the three months ended March 31, 2026, representing a decrease of 12.2% from RMB3.3 million in the last quarter and an increase of 1.0% from RMB2.9 million in the same period last year. The quarter-over-quarter decrease was mainly due to the impact of share-based compensation expenses.

Other operating income, net was RMB0.5 million (US$0.1 million) for the three months ended March 31, 2026, compared with RMB8.8 million for the last quarter and RMB11.9 million in the same period last year. The decrease was mainly due to the decline of gains from derecognition of certain long-aged liabilities.

Loss from operations was RMB66.6 million (US$9.7 million) for the three months ended March 31, 2026, compared with RMB58.7 million in the last quarter and RMB35.3 million in the same period last year.

Interest expenses were RMB23.9 million (US$3.5 million) for the three months ended March 31, 2026, compared with RMB24.7 million in the last quarter and RMB22.5 million in the same period last year.

Net loss from operations was net loss of RMB91.6 million (US$13.3 million) for the three months ended March 31, 2026, compared with net loss of RMB82.8 million in the last quarter and net loss of RMB51.4 million in the same period last year.

Non-GAAP adjusted EBITDA was a loss of RMB34.3 million (US$5.0 million) for the three months ended March 31, 2026, compared with a loss of RMB27.2 million in the last quarter and a loss of RMB8.9 million in the same period last year.

Liquidity

The Company has incurred net losses since inception. For the quarter ended March 31, 2026, the Company incurred net loss of RMB91.6 million. As of March 31, 2026, the Company had accumulated deficit in the amount of RMB20.0 billion, its current liabilities exceeded current assets by approximately RMB156.1 million, the Company’s cash balance was RMB47.4 million. Based on the Company’s liquidity assessment, which considers the plans to address these adverse conditions and events, including raising funds from planned equity and loan financings, growing vehicle sales volume and revenue by increasing the scale of vehicle purchase while maintaining vehicle inventory and working capital turnover by managing reasonable vehicle sale prices, improving gross profit margin by promoting value-added services offered to customers, and also adjusting its operation scale if and when necessary, the Company believes that its current cash and cash equivalents and the cash flows from operating and financing activities are sufficient for the Company to meet its anticipated working capital requirements, other capital commitments and the Company will be able to meet its payment obligations when liabilities fall due within the next twelve months from the date of this release.

Recent Development

Strategic Partnership with Shijiazhuang State-Owned Enterprise

The Company has entered into an equity investment agreement with Hebei Chengying Investment Promotion Operation Co., Ltd. (“Hebei Chengying”) to establish a subsidiary of the Company. Pursuant to the equity agreement, Uxin (Anhui) Industrial Investment Group Co., Ltd., a wholly owned subsidiary of the Company, will contribute RMB30.0 million, and Hebei Chengying will contribute RMB10.0 million, representing approximately 75% and 25% of the subsidiary’s total registered capital, respectively.

Chongqing Used Car Superstore Project

On May 21, 2026, Uxin announced the launch of a new used car superstore project in Chongqing. The project will integrate a large-scale used car reconditioning facility with a one-stop retail experience, featuring a total capacity of more than 5,000 vehicles for display and sale. The superstore is expected to begin operations in 2026 and further strengthen Uxin’s strategic presence in southwestern China.

Business Outlook

For the three months ended June 30, 2026, the Company expects its retail transaction volume to range between 18,000 units and 19,000 units. The Company estimates that its total revenues including retail vehicle sales revenue, wholesale vehicle sales revenue and other revenue to range between RMB1,050 million and RMB1,100 million. These forecasts reflect the Company’s current and preliminary views on the market and operational conditions, which are subject to changes.

Conference Call

Uxin’s management team will host a conference call Tuesday, June 16, 2026, at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Beijing/Hong Kong time on the same day) to discuss the financial results. In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive access details for this conference including an event passcode, a unique access PIN, dial-in numbers, and an e-mail with detailed instructions to join the conference call.

Conference Call Preregistration：https://dpregister.com/sreg/10209737/1042ec49cec

A telephone replay of the call will be available after the conclusion of the conference call until June 23, 2026. The dial-in details for the replay are as follows:

U.S.:

+1 855 669 9658

International:

+1 412 317 0088

Replay PIN:

3285335

A live webcast and archive of the conference call will be available on the Investor Relations section of Uxin’s website at http://ir.xin.com.

About Uxin

Uxin is China’s leading used car retailer, pioneering industry transformation with advanced production, new retail experiences, and digital empowerment. We offer high-quality and value-for-money vehicles as well as superior after-sales services through a reliable, one-stop, and hassle-free transaction experience. Under our omni-channel strategy, we are able to leverage our pioneering online platform to serve customers nationwide and establish market leadership in selected regions through offline superstores with inventory capacities ranging from 2,000 to 8,000 vehicles. Leveraging our extensive industry data and continuous technology innovation throughout more than ten years of operation, we have established strong used car management and operation capabilities. We are committed to upholding our customer-centric approach and driving the healthy development of China’s used car industry.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses certain non-GAAP measures, including Adjusted EBITDA and adjusted net loss from operations per share – basic and diluted, as supplemental measures to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines Adjusted EBITDA as EBITDA excluding share-based compensation, foreign exchange (losses)/gain, other income/(expenses), structure realignment cost which was mainly severance cost and equity in income of affiliates. The Company defines adjusted net loss attributable to ordinary shareholders per share – basic and diluted as net loss attributable to ordinary shareholders per share excluding impact of share-based compensation, deemed dividend to preferred shareholders due to triggering of a down round feature and accretion on redeemable non-controlling interests. The Company presents the non-GAAP financial measures because they are used by the management to evaluate the operating performance and formulate business plans. The Company also believes that the use of the non-GAAP measures facilitate investors’ assessment of its operating performance as this measure excludes certain finance or non-cash items that the Company does not believe directly reflect its core operations. The Company believe that excluding these items enables us to evaluate our performance period-over-period more effectively and relative to our competitors.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using Adjusted EBITDA is that it does not reflect all items of income and expenses that affect the Company’s operations. Share-based compensation, other income/(expenses) and foreign exchange (losses)/gain have been and may continue to be incurred in the business. Further, the non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of Uxin’s non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader, except for those transaction amounts that were actually settled in U.S. dollars. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.8980 to US$1.00, representing the index rate as of March 31, 2026 set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Uxin’s strategic and operational plans, contain forward-looking statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Uxin’s goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin’s expectations regarding demand for, and market acceptance of, its products and services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China’s used car e-commerce industry and other related industries; the laws and regulations relating to Uxin’s industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media enquiries, please contact:

Uxin Limited Investor Relations
Uxin Limited
Email: ir@xin.com

The Blueshirt Group
Mr. Jack Wang
Phone: +86 166-0115-0429
Email: Jack@blueshirtgroup.co

Uxin Limited

Unaudited Consolidated Statements of Comprehensive Loss

(In thousands except for number of shares and per share data)

For the three months ended March 31,

2025

2026

RMB

US$

Revenues

Retail vehicle sales

465,518

1,014,958

147,138

Wholesale vehicle sales

Others

22,547

16,164

27,885

30,811

4,042

4,467

Total revenues

504,229

1,073,654

155,647

Cost of revenues

(468,888)

(998,609)

(144,768)

Gross profit

35,341

75,045

10,879

Operating expenses

Sales and marketing

(61,703)

(115,784)

(16,785)

General and administrative

(18,334)

(23,383)

(3,390)

Research and development

(2,899)

(2,928)

(424)

Reversal of credit losses, net

395

–

Total operating expenses

(82,541)

(142,095)

(20,599)

Other operating income, net

11,948

456

Loss from operations

(35,252)

(66,594)

(9,654)

Interest income

Interest expenses

(22,542)

(23,923)

(3,468)

Other income

6,285

457

Other expenses

(655)

(1,288)

(187)

Foreign exchange gains/(losses)

776

(280)

(41)

Loss before income tax expense

(51,381)

(91,617)

(13,282)

Income tax expense

–

Equity in loss of affiliates, net of tax

–

Net loss, net of tax

(51,381)

(91,617)

(13,282)

Add: net profit attribute to redeemable non-
controlling interests and non-controlling interests shareholders

(1,690)

(6,409)

(929)

Net loss attributable to UXIN LIMITED

(53,071)

(98,026)

(14,211)

Deemed dividend to preferred shareholders due to
triggering of a down round feature

–

Net loss attributable to ordinary shareholders

(53,071)

(98,026)

(14,211)

Net loss

(51,381)

(91,617)

(13,282)

Foreign currency translation, net of tax nil

597

Total comprehensive loss

(51,306)

(91,020)

(13,195)

Add: net profit attribute to redeemable non-
controlling interests and non-controlling interests
shareholders

(1,690)

(6,409)

(929)

Total comprehensive loss attributable to UXIN
LIMITED

(52,996)

(97,429)

(14,124)

Net loss attributable to ordinary shareholders

(53,071)

(98,026)

(14,211)

Weighted average shares outstanding – basic

58,275,586,722

66,443,917,277

Weighted average shares outstanding – diluted

58,275,586,722

66,443,917,277

Net loss per share for ordinary shareholders, basic

(0.00)

Net loss per share for ordinary shareholders, diluted

(0.00)

Uxin Limited

Unaudited Consolidated Balance Sheets

(In thousands except for number of shares and per share data)

As of December 31,

As of March 31,

2025

2026

RMB

US$

ASSETS

Current assets

Cash and cash equivalents

83,006

47,359

6,866

Restricted cash

Accounts receivable, net

4,613

3,326

482

Other receivables, net of provision for credit
losses of RMB14,105 and RMB14,082 as of
December 31, 2025 and March 31, 2026,
respectively

23,186

24,882

3,607

Inventory, net

545,554

422,137

61,197

Prepaid expenses and other current assets

87,466

91,450

13,257

Total current assets

743,896

589,225

85,419

Non-current assets

Property, equipment and software, net

85,447

86,119

12,485

Finance lease right-of-use assets, net

1,319,087

1,312,177

190,226

Operating lease right-of-use assets, net

270,325

240,899

34,923

Total non-current assets

1,674,859

1,639,195

237,634

Total assets

2,418,755

2,228,420

323,053

LIABILITIES, MEZZANINE EQUITY AND
SHAREHOLDERS’ DEFICIT

Current liabilities

Accounts payable

65,009

60,479

8,768

Other payables and other current liabilities

291,338

275,943

40,002

Current portion of operating lease liabilities

35,842

33,323

4,831

Current portion of finance lease liabilities

187,541

60,755

8,808

Short-term borrowings from third parties

397,161

314,831

45,641

Total current liabilities

976,891

745,331

108,050

Non-current liabilities

Long-term borrowings from third parties

10,000

1,450

Finance lease liabilities

1,081,322

1,098,678

159,275

Operating lease liabilities

245,373

223,004

32,329

Total non-current liabilities

1,336,695

1,331,682

193,054

Total liabilities

2,313,586

2,077,013

301,104

Mezzanine equity

Redeemable non-controlling interests (i)

336,057

470,211

68,166

Total Mezzanine equity

336,057

470,211

68,166

Shareholders’ deficit

Ordinary shares (ii)

45,922

45,929

6,658

Additional paid-in capital (ii)

19,370,282

19,379,788

2,809,479

Subscription receivable from shareholders (ii)

(21,165)

(3,068)

Accumulated other comprehensive income

234,630

235,227

34,101

Accumulated deficit

(19,860,557)

(19,958,583)

(2,893,387)

Total Uxin’s shareholders’ deficit

(230,888)

(318,804)

(46,217)

Non-controlling interests

–

Total shareholders’ deficit

(230,888)

(318,804)

(46,217)

Total liabilities, mezzanine equity and
shareholders’ deficit

2,418,755

2,228,420

323,053

(i) On October 16, 2024, the Company, through Uxin Anhui, entered into an agreement with Wuhan Junshan Urban Asset Operation
Co.,Ltd. (“Wuhan Junshan”), a company indirectly controlled by Wuhan City Economic & Technological Development Zone, to establish a
subsidiary, Wuhan Youxin Intelligent Remanufacturing Co., Ltd. (“Uxin Wuhan”). Uxin Anhui will contribute RMB66.7 million and Wuhan
Junshan will contribute RMB33.3 million, representing approximately 66.7% and 33.3% of Uxin Wuhan’s total registered capital,
respectively. As of March 31, 2026, the Company and Wuhan Junshan each made contributions of RMB26.0 million to Uxin Wuhan,
respectively, and the investment from Wuhan Junshan was recognized as redeemable non-controlling interests.

On July 8, 2024, the Company, through Uxin Anhui, entered into a strategic partnership with Zhengzhou Airport Automobile Industry Co.,
Ltd. (“Zhengzhou Airport Industry”) to establish Youxin (Zhengzhou) Automobile Intelligent Remanufacturing Co., Ltd. (“Uxin
Zhengzhou”). Pursuant to the equity investment agreement, Uxin Anhui will contribute RMB120.0 million and Zhengzhou Airport Industry
will contribute RMB50.0 million, representing approximately 70.59% and 29.41% of Uxin Zhengzhou’s total registered capital,
respectively. As of March 31, 2026, the Company and Zhengzhou Airport Industry made contributions of RMB30.0 million and RMB12.5
million to Uxin Zhengzhou, respectively, and the investment from Zhengzhou Airport Industry was recognized as redeemable non-
controlling interests.

On September 20, 2023, the Company entered into an equity investment agreement with Hefei Construction Investment. Pursuant to the
agreement, Hefei Construction Investment will invest by multiple instalments in Uxin Hefei, and each instalment will be made after the
lease payment is made by the Hefei subsidiary, over a 10-year period. As of March 31, 2026, the first-year, second-year and third-year
rentals of approximately RMB147.1 million, RMB127.7 million and RMB127.7 million was converted into the investment of
approximately 12.02%, 8.40% and 6.92% equity interests in Uxin Hefei by Hefei Construction Investment, respectively. The investment
was recognized as redeemable non-controlling interests.

(ii) On December 18, 2025, the Company entered into a definitive agreement with Abundant Grace Investment Limited, an entity affiliated
with Mr. Bin Li, a director of the Company. Pursuant to the definitive agreement, Abundant Grace Investment Limited agreed to purchase
1.2 billion of our Class A Ordinary Shares at a price of US$0.00833 per Class A Ordinary Share (equivalent to US$2.5 per ADS) for an
aggregate consideration of US$10 million, which is expected to be paid in multiple installments. As of March 31, 2026, Abundant Grace
Investment Limited has fulfilled its payment obligations in an aggregate amount of US$7.0 million of the total US$10.0 million purchase
price. The Company has completed the full issuance and delivery of all the aforesaid subscribed Class A Ordinary Shares, and is entitled
to a remaining subscription receivable of US$3.0 million due from Abundant Grace Investment Limited. The remaining US$3.0 million
was recorded in “Subscription receivable from shareholders” as of March 31, 2026.

On December 26, 2025, the Company entered into definitive share subscription agreements with Abundant Glory Investment L.P.(affiliates
of NIO Capital) and Prestige Shine Group Limited. Pursuant to the definitive agreements, Abundant Glory Investment L.P. and Prestige
Shine Group Limited agreed to purchase 5,246,589,717 Class A ordinary shares of the Company with par value of US$0.0001 per share at
a price of US$0.00953 per Class A ordinary share for a total consideration of US$50 million. In substance, the Company issued two
forward contracts to Abundant Glory Investment L.P. and Prestige Shine Group Limited, as Abundant Glory Investment L.P. and Prestige
Shine Group Limited are obligated to purchase the shares, and the Company is required to issue them upon the satisfaction of the closing
conditions at the pre-agreed price and amount which shall be a deemed dividend to the forward contract holder recorded in the additional
paid-in capital. In addition, given that these forward contracts are considered indexed to the Company’s own stock and meet the
requirement for equity classification, these forward contracts were also classified under the Company’s equity and was initially measured
at fair value amounting to US$4.5 million (equivalent to approximately RMB31.3 million) with no subsequent remeasurement.

As of the date of this release, affiliates of NIO Capital have designated Gold Wings Holdings Limited as the subscriber for a portion of its
investment. The Company received US$10.0 million from Gold Wings Holdings Limited and issued 1,049,317,943 Class A ordinary
shares to Gold Wings Holdings Limited. The closing of the remaining portion of the transaction is subject to customary closing conditions.

* Share-based compensation charges included are as follows:

For the three months ended March 31,

2025

2026

RMB

US$

Sales and marketing

1,166

1,279

185

General and administrative

8,025

7,872

1,141

Research and development

617

361

Uxin Limited

Unaudited Reconciliations of GAAP And Non-GAAP Results

(In thousands except for number of shares and per share data)

For the three months ended March 31,

2025

2026

RMB

US$

Net loss, net of tax

(51,381)

(91,617)

(13,282)

Add: Income tax expense

–

Interest income

(7)

(11)

(2)

Interest expenses

22,542

23,923

3,468

Depreciation

16,593

22,780

3,302

EBITDA

(12,253)

(44,925)

(6,514)

Add: Share-based compensation expenses

9,808

9,512

1,378

– Sales and marketing

1,166

1,279

185

– General and administrative

8,025

7,872

1,141

– Research and development

617

361

Other income

(6,285)

(457)

(66)

Other expenses

655

1,288

187

Foreign exchange (gains)/losses

(776)

280

Non-GAAP adjusted EBITDA

(8,851)

(34,302)

(4,974)

For the three months ended March 31,

2025

2026

RMB

US$

Net loss attributable to ordinary shareholders

(53,071)

(98,026)

(14,211)

Add: Share-based compensation expenses

9,808

9,512

1,378

– Sales and marketing

1,166

1,279

185

– General and administrative

8,025

7,872

1,141

– Research and development

617

361

Add: accretion on redeemable non-controlling
interests

1,688

6,409

929

Deemed dividend to preferred shareholders
due to triggering of a down round feature

–

Non-GAAP adjusted net loss attributable to
ordinary shareholders

(41,575)

(82,105)

(11,904)

Net loss per share for ordinary shareholders –
basic

(0.00)

Net loss per share for ordinary shareholders –
diluted

(0.00)

Non-GAAP adjusted net loss to ordinary
shareholders per share – basic and diluted

(0.00)

Weighted average shares outstanding – basic

58,275,586,722

66,443,917,277

Weighted average shares outstanding – diluted

58,275,586,722

66,443,917,277

Note: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00
= RMB6.8980 as of March 31, 2026 set forth in the H.10 statistical release of the Board of Governors of the Federal
Reserve System.

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SOURCE Uxin Limited

Technology

Summation Makes AI Analysts Available to Every Business Team

Published

45 minutes ago

September 10, 2026

Put a proactive AI analyst to work in minutes: automating the grind, staying on top of what’s changing, and helping teams make better decisions, fast.

BELLEVUE, Wash., Sept. 10, 2026 /PRNewswire/ — AI has made individuals dramatically more capable. But making each person smarter doesn’t automatically make the company run better.

Companies are becoming more complicated. There’s too much happening for any person or team to see the full picture. Summation is AI designed for how a business actually operates.

Starting today, Summation’s AI analyst is available to everyone. After a year deploying Summation inside companies including Fanatics, Lineage, and Grid, any team can now sign up, connect its data, and put an AI analyst to work in minutes.

“Most businesses aren’t short on valuable problems to solve. They’re short on the analytical capacity to solve them,” said Ian Wong, CEO and Co-Founder of Summation. “We built Summation to put an AI analyst on every team and bring the best of AI to the decisions that drive the business.”

The AI Analyst That Stays on Top of the Business
Most AI tools wait for someone to ask the right question. Summation can take responsibility for work that needs to happen whether someone remembers to ask or not.

It can run recurring analytical processes, including reviews, forecasts, and reporting, automatically on your schedule.

Summation can monitor thousands of changes across products, customers, locations, and channels. When something matters, Summation investigates why, shows the evidence, and brings it to the right person.

And it can go beyond analysis into operating decisions. Summation powers applications for planning, pricing, inventory, marketing, and other workflows, helping teams make key decisions and measure what matters.

The result is more capacity to run the business: more questions answered, faster response to change, and better decisions made sooner.

More Than a General-Purpose LLM
Making that work takes more than a great AI model.

Summation learns the context that makes each business different: its data, metrics, definitions, processes, and constraints. Its workflows keep running from one operating cycle to the next, and its work is verified and traceable back to underlying data.

That’s what allows Summation to take responsibility for recurring work rather than simply generate a one-off answer. An output from Summation is a boardroom ready deliverable you can trust.

From Sign-Up to Production
Individuals and teams can sign up, connect their data through more than 1,200 integrations, and delegate their first job in minutes. With Summation Workflows, useful work can then run automatically and deliver itself by email or Slack.

For enterprises, Summation’s deployment team works alongside customers to make the analyst successful. The team identifies high-value responsibilities to delegate, learns how the business actually operates, and does the last-mile work to put AI into production.

The goal isn’t another AI implementation. It’s a working analyst driving a real business outcome.

Available Today
Summation is available in two self-serve plans: Pro at $60 per user per month and Max at $200 per user per month.

Enterprise plans include dedicated deployment support, custom integrations, and advanced governance and controls for organizations putting AI analysts into critical operating workflows.

Summation AI analysts are available today. Put one to work at: www.summation.com/try-summation.

About Summation
Summation builds AI analysts that help companies understand what’s happening, plan what comes next, and make better operating decisions. Its AI analysts work from live business data and shared company context to automate recurring work, proactively monitor performance, investigate problems, and improve plans.

Companies including Fanatics, Lineage, and Grid run recurring analytical and planning work on Summation today.

Summation is backed by Benchmark and Kleiner Perkins and is headquartered in Bellevue, Washington.

Media Contact
Trevor Shih
Head of Business Operations
Summation
press@summation.com

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SOURCE Summation Technologies, Inc.

Technology

New North American Survey Reveals Only One in Ten Sustainability Professionals Expect Their Organization’s Ambition to Decrease

Published

45 minutes ago

September 10, 2026

Research from UN Global Compact Networks in Canada, Mexico, and the USA and GlobeScan reveals companies are becoming more selective and strategic as pressure on corporate sustainability commitments grows

TORONTO, Sept. 10, 2026 /CNW/ — Despite mounting economic, political and regulatory pressure on corporate sustainability, ambition among sustainability professionals across North America is proving more resilient than widely assumed. A new tri-national study finds that only 10 percent of respondents expect their organization’s sustainability ambition to decrease, while most expect it to increase, remain stable, or become more targeted.

Leading Through Uncertainty: The Evolving Role of Sustainability Professionals in North America, published by UN Global Compact Networks in Canada, Mexico and the USA, in partnership with GlobeScan, draws on survey responses from corporate sustainability professionals across all three countries, conducted in English, French and Spanish. The research finds that sustainability leadership in North America is evolving, with organizations becoming more selective in where they focus, how they communicate, and demonstrate progress. Other key findings include:

Business value is the defining test for sustainability leadership. 76 percent of respondents identify the ability to connect sustainability to business value as a crucial capability, meaning that industry leaders are expected to translate environmental and social priorities into strategy, operations, and finance.Sustainability is moving closer to core business strategy. 61 percent of respondents say embedding sustainability into strategy and capital allocation should be a priority for sustainability leaders, pointing to a shift toward deeper business integration.The role of sustainability professionals is expanding. Beyond technical expertise, the research also surfaces the growing importance of influencing leadership, working across functions and driving organizational change.

The research is based on a survey of 276 sustainability professionals with responsibility and expertise in corporate sustainability across North America. Conducted in English, French and Spanish, the results are weighted equally across Canada, Mexico and the USA. The full findings were presented at the virtual launch event on September 10, 2026. The complete report is now available to download here.

About UN Global Compact
As a special initiative of the United Nations Secretary-General, the UN Global Compact is a call to companies worldwide to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our vision is clear: to mobilize business to transform sustainability ambition into action at the scale the world demands. With more than 25,000 participants and a presence in over 100 countries through 5 Regional Hubs and more than 70 Country Networks and expansion territories, the UN Global Compact is the world’s largest corporate sustainability initiative.

For more information, follow @globalcompact on social media and visit our websites at unglobalcompact.org | UN Global Compact Network Canada – unglobalcompact.ca | UN Global Compact Network Mexico – pactoglobal.org.mx | UN Global Compact Network USA – globalcompactusa.org

About GlobeScan
GlobeScan is an insights and advisory firm specializing in trust, sustainability, and engagement.
We equip clients with insights to navigate shifting societal and stakeholder expectations, crafting evidence-based strategies that reduce risks and create value for their organizations and society.
Established in 1987, we have offices in Cape Town, Dubai, Hong Kong, Hyderabad, London, Paris, San Francisco, São Paulo, Singapore, Tokyo, and Toronto. GlobeScan is a participant of the UN Global Compact and a Certified B Corporation.
Learn more here.

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SOURCE United Nations Global Compact

Technology

OpenSpace Unveils the Next Generation of Its Visual Intelligence Platform at Waypoint 2026

Published

45 minutes ago

September 10, 2026

New Spatial AI, mobile, and progress tracking innovations help construction teams turn trusted reality data into faster, better decisions

SAN FRANCISCO, Sept. 10, 2026 /PRNewswire/ — OpenSpace, the Visual Intelligence Platform for the built world, today unveiled the next generation of its platform at Waypoint 2026, the company’s annual virtual customer event. The new and upcoming capabilities demonstrate how Visual Intelligence is creating a new way to work in construction, moving project teams beyond document-centric workflows toward decisions grounded in visual, real-world data.

In recent years, OpenSpace has become a leading platform that brings together data from 360° cameras, smartphones, drones, laser scanners, BIM models, project schedules and more. OpenSpace enriches that data with location, field context and reality-based progress analytics, making it easier for project teams to coordinate around what is actually happening on-site, communicate across stakeholders, and make faster decisions. This new way of working, with visual reality at the center, is making life easier for field teams, delivering literal ROI, and making AI genuinely more useful for builders.

“Construction doesn’t need another disconnected tool or system that asks teams to manually input information into a form,” said Jeevan Kalanithi, CEO and Co-Founder of OpenSpace. “The next phase of the industry will be defined by platforms that understand the physical world and make that intelligence available wherever teams already work. Today at Waypoint, we demonstrated how OpenSpace is powering a new way of reality-based work, with an open platform that interoperates with the systems and technologies that work best for our customers’ businesses.”

A New Way to Work in the Field
At Waypoint 2026, OpenSpace previewed new capabilities designed to make the smartphone a powerful tool for capturing, understanding, and acting on jobsite reality, reducing administrative work and helping teams move more quickly from observation to action.

The company announced a breakthrough in its Autolocation technology, revealing AI Autolocation 2.0 with Live Location. In construction, location of a photo taken is often the most important, but almost always missing, piece of information. OpenSpace made this a priority to solve for their customers. AI Autolocation works like GPS, but inside buildings where GPS does not operate, and it works without the need to install wireless hardware devices like bluetooth beacons. AI Autolocation 1.0 helped users automatically pin issues created on mobile to their location on a drawing. AI Autolocation 2.0 takes it further, allowing users to understand their position in real time, all the time, powering entirely new field workflows.

The technology powers a new mobile experience called Site Mode, which puts a user’s live location directly on project drawings and BIM models, even when offline, allowing users in the field to instantly access relevant information, open Field Notes and expedite issue workflows based on exactly where they are on the jobsite.

The technology also powers AI Walk-and-Talk, a capability that allows users to create structured updates by speaking naturally as they move through the jobsite. The images and voice are tagged in real time to jobsite locations, providing a rich data set of site status. Walk-and-Talk powers workflows such as daily reports, with OpenSpace compiling the information into an end-of-day report to reduce significant time spent on administrative work.

Verified Progress, Not Opinions
OpenSpace also showcased major advancements to OpenSpace Track, its reality-based progress-tracking solution for projects ranging from multifamily housing to hospitality projects to some of the most complex, high-value and mission-critical projects. OpenSpace Track helps customers verify installed work, compare actual progress with planned milestones, identify schedule risks, forecast future performance, and view trends across multiple projects at the portfolio level.

Due to high customer demand from mission-critical owners and builders, OpenSpace has expanded its progress tracking offerings with new functionality for quantity tracking, markups and predictive analytics. Combined with the power of the full OpenSpace platform as well as optional walk and pilot services, customers are using these capabilities to build faster and more reliably, with visual reality at the center.

The company also announced its Track API, which allows customers to pull progress tracking data into whatever core system a customer uses — ERP, BI dashboards, or PM tools — and drive more workflows in both the field and office. In particular, the company highlighted customers using Track and the Track API to provide accelerated payments to their subcontractors using a shared visual record that all parties can trust, demonstrating literal ROI impact for the industry as a whole.

“For the construction industry, the field is where money is made or lost, yet progress has traditionally been measured through manual updates, periodic observations, and individual judgment,” said Michael Jones, Vice President of Product Management at OpenSpace. “Visual Intelligence replaces opinions with a more objective, timely view of what has actually been completed, which can truly transform the difficult economics of construction. It allows payments and capital to flow more efficiently from lenders to owners to GCs to trades, each and every month.”

Giving AI Agents Eyes on the Jobsite
OpenSpace outlined the next generation of AI built for the “real world” economy. Most AI systems are designed to interpret documents and text. Construction, however, takes place in a physical environment that changes every minute, every day. To provide meaningful value, AI must understand not only what was planned, but also what is truly happening in the real, physical world. This type of AI is often labeled “Physical AI,” and it represents the cutting edge of AI broadly.

OpenSpace announced the new OpenSpace Agent Ecosystem – an open, interoperable AI agent platform that understands what is happening on the jobsite, and can tackle work that teams have to do. OpenSpace leverages its foundation of processing large amounts of visual data, enriching it with location, meaning and high-level analytics, and is now making that intelligence accessible to AI agents to help tackle real work. OpenSpace is building agentic AI technology capable of understanding reality data that is captured, organized, and mapped to the correct project spatial context. Having analyzed imagery from more than 110,000 construction projects representing over 77 billion square feet, with more than 500 million expert-verified labels and descriptions, OpenSpace has built a foundation of real-world visual and spatial intelligence that can help AI understand how construction actually progresses.

This foundation can enable AI agents – in OpenSpace or in a partner system using OpenSpace via MCP – to assist with everyday workflows like daily logs, routine inspections, and clearing punch lists. OpenSpace is already putting this vision into practice, working with a select group of Early Access customers to build and deploy AI agents against real-world construction workflows.

“AI agents need eyes,” said Michael Fleischman, CTO and Co-Founder, OpenSpace. “An agent may be able to read every report associated with a project, and that provides real value. But without visual and spatial context, AI still cannot fully understand the scope of what drives business results for our customers – that data lies in the field. OpenSpace is building that connection between AI and the physical world so agents can become genuinely useful partners to the people delivering projects. This kind of real-world reasoning has been the vision behind OpenSpace from the beginning, and we’re excited to now put that capability in the hands of our customers.”

Throughout Waypoint 2026, OpenSpace customers shared how they are using Visual Intelligence to improve coordination, reduce administrative work, validate progress, deliver literal ROI through accelerated payments, and make faster decisions.

“OpenSpace puts Autodesk Issues front and center with pinpoint accuracy so we can get them resolved faster. The faster we resolve issues, the greater benefit to the project,” said Zeeshan Haider, Director of Business Process, ISEC, Inc. “I worked with one company that could measure job profitability based on the number of days issues stayed open. So, if we can increase the efficiency with which we resolve open issues, that means money to the bottom line. And at the end of the day, that satisfies our customers. They feel like we’re on top of things and getting them done faster.”

Additional information about upcoming feature availability, participation in Early Access and Beta programs, and general customer access will be shared in the coming months.

To watch Waypoint 2026 and learn more about the innovations announced at the event, visit https://www.openspace.ai/waypoint/.

About OpenSpace
OpenSpace is the Visual Intelligence Platform for the built world, helping teams reduce risk and increase efficiency. Powered by Spatial AI, its image-first platform streamlines coordination between field and office teams, providing reality-based, real-time intelligence for faster decisions and fewer delays. Customers like Suffolk, Comfort Systems, and Tishman Speyer rely on OpenSpace to gain critical insights from their sites, avoid destructive investigations, and finish projects ahead of schedule. To date, general contractors, trades, and owners have relied on OpenSpace to analyze imagery on more than 110,000 construction projects across 132 countries. To learn more, visit www.openspace.ai and follow us on LinkedIn.

Media Contact:
Lindsay Hull
Zer0 to 5ive for OpenSpace
openspace@0to5.com
or
media@openspace.ai

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SOURCE OpenSpace