Uxin Releases Inaugural Environmental, Social and Governance Report
BEIJING, July 26, 2022 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading e-commerce platform for buying and selling used cars in China, today announced the release of its inaugural Environmental, Social and Governance Report (the “ESG Report”). The ESG Report highlighted the Company’s ongoing efforts to implement ESG considerations and practices into its operations during the fiscal year of 2022, including product responsibility, technology innovation, carbon reduction, talent development, and corporate governance.
To view the report in full, please visit the ESG section on the Company’s investor relations website at https://ir.xin.com/esg.
“Corporate social responsibility is an essential element of our corporate culture and is the foundation of our strategy for achieving greater value for our customers, employees, shareholders, and communities," said Mr. Kun Dai, Chairman and Chief Executive Officer of Uxin, “The used car industry is an integral component of China’s economic circular flow. The circulation of vehicles plays a critical role in lowering production waste, reducing pollution, and improving societal resource utilization. As an industry leader and a pioneer of energy conservation and emission reduction, we actively advocate for a green and low-carbon lifestyle by promoting the consumption of used cars. Going forward, we will remain committed to integrating the concept of sustainable development into our operations and business growth to help the used car industry develop in a high-quality and environmental-friendly direction.”
Highlights of the Company’s ESG efforts and performance include：
1. Promoting Green and Low-Carbon Circular Economy
- Improve used vehicles’ quality and safety to extend their lifecycles through advanced reconditioning technologies.
- Set off a new journey in the used new energy vehicle market by advocating a greener way to travel that aligns with sustainable development goals.
- Developed a smart logistic system and network to optimize routing efficiency, lower empty-loaded rates, and reduce unnecessary transportation emissions.
- Based on the TCFD framework, Uxin has identified the risks and challenges with climate change, as well as integrated the ESG development concept into its strategic planning and implemented it into its daily operations and management.
2. Product Responsibility
- With a 100% inventory-owning model, Uxin has full control over the supply chain of used vehicles products in all aspects, from acquisition, inspection, reconditioning, sales and after sales, etc.
- Formulates uniform quality control criteria for non-standard used vehicles. Supported by the industry-leading inspection and reconditioning technology, Uxin’s IRCs in Xi’and Hefei can conduct comprehensive inspection and recondition all retail vehicles to a “like new” condition through an assembly line operation. All vehicle information is transparent to consumers.
- Uxin implements a non-differentiated pricing strategy base on self-developed Manhattan pricing system for the intelligent decision-making, which follows the “one price without hidden costs” policy, to ensure fair pricing and minimize other subjective influences.
3. Product Accessibility and Inclusiveness
- Uxin pioneered the “Uxin online shopping mall” to break the geographical restrictions of used vehicle transactions. Service accessibility is enhanced by Uxin’s nationwide logistics network, where customers can place orders for vehicles online and Uxin will provide door-to-door delivery service.
- Customers who purchase vehicles from Uxin’s Xi’an IRC or Hefei IRC can directly experience Uxin’s products and services in person, which encourages customers to share satisfactory experiences.
- Consumer can enjoy a convenient and reliable one-stop shopping experience whether they purchase vehicles from Uxin’s self-owned, self-operated online shopping mall or local IRCs.
4. Consumer Rights Protection
- Uxin provides reliable and comprehensive after-sales services and guarantees to fully protect the rights of consumers.
- Uxin is the first company in the used vehicle industry to adopt Net Promoter Score (NPS) evaluation as one of the key performance indicators. To better promote NPS and improve customer satisfaction, the Company holds regular biweekly NPS meetings and customers can have direct communication with the company management to provide feedback and resolve any issues.
5. Supportive Work Environment
- Uxin is dedicated to creating an environment where there is no discrimination regardless of age, gender, disabilities, and religious beliefs to uphold corporate principles based on fairness, justice, and equal pay for equal work.
- Ensures all staff have equal opportunities to attend trainings for enhancing professional and personal skills and abilities. Specialized training programs provided are customized for new employees, the procurement team, and the after-sales team, etc., to make sure every staff member have opportunities to improve their abilities for professional growth.
Uxin Limited (Nasdaq:UXIN) is a leading e-commerce platform for buying and selling used cars in China. 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.
For investor and media enquiries, please contact:
Uxin Limited Investor Relations
Ms. Joyce Tang
Phone: +86 10 5691-6765
The Blueshirt Group
Ms. Julia Qian
Phone: +1 973-619-3227