BEIJING (dpa-AFX) - Uxin (UXIN) posted a first quarter net loss from operations of RMB 49.8 million, compared to a net loss of RMB 91.6 million, a year ago. Non-GAAP adjusted EBITDA was a loss of RMB 33.9 million, compared with a loss of RMB 46.6 million.
First quarter total revenues were RMB 401.2 million, an increase of 38.8% from RMB 289.0 million, last year. The company said the increase was mainly due to the increase of retail vehicle sales revenue. Transaction volume was 5,605 units, an increase of 72.2% from 3,254 units in the same period last year.
For the second quarter, the company expects retail transaction volume to be within the range of 5,800 units to 6,000 units. The company estimates that its total revenues including retail vehicle sales revenue, wholesale vehicle sales revenue and other revenue to be within the range of RMB 480 million to RMB 500 million. The company expects non-GAAP adjusted EBITDA to be less than a loss of RMB 10 million.
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