BEIJING, March 1,
2024 /PRNewswire/ -- Uxin Limited ("Uxin" or the
"Company," together with its subsidiaries, the "Group") (Nasdaq:
UXIN), China's leading used car
retailer, today announced that the proposed resolution submitted
for shareholders' approval as set forth in the notice of
extraordinary general meeting dated January
30, 2024 have been adopted at the meeting held in
Beijing, China today.
Specifically, the shareholders have passed the resolution that the
authorized share capital of the Company be increased by the
creation of an additional 190,000,000,000 new Class A Ordinary
Shares of a par value of US$0.0001
each (the "Share Capital Increase"), such that, following the Share
Capital Increase, the authorized share capital of the Company will
be US$20,000,000 divided into
200,000,000,000 shares comprising of (i) 198,180,000,000 Class A
Ordinary Shares of a par value of US$0.0001 each, (ii) 100,000,000 Class B Ordinary
Shares of a par value of US$0.0001
each and (iii) 1,720,000,000 Senior Preferred Shares of a par value
of US$0.0001.
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 inspection and reconditioning centers. 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 the used car industry.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements which are made pursuant to the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to,"
and similar statements. Statements that are not historical facts,
including statements about Uxin's beliefs, plans, 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: the risk and uncertainties as to the timing of the entry
into definitive agreements or consummation of the transactions; the
risk that certain closing conditions of the transactions may not be
satisfied on a timely basis, or at all; impact of the COVID-19
pandemic; Uxin's goal and strategies; its expansion plans and
successful completion of certain financing transactions; its future
business development, financial condition and results of
operations; Uxin's expectations regarding demand for, and market
acceptance of, its 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; 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.
For investor and media enquiries, please contact:
Uxin Limited Investor Relations
Email: ir@xin.com
The Blueshirt Group
Jack Wang
Phone: +86 166-0115-0429
Email: Jack@blueshirtgroup.com
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SOURCE Uxin Limited