00017291732021-04-012021-09-300001729173us-gaap:MeasurementInputSharePriceMember2021-09-300001729173us-gaap:MeasurementInputRiskFreeInterestRateMember2021-09-300001729173us-gaap:MeasurementInputPriceVolatilityMember2021-09-300001729173us-gaap:MeasurementInputExpectedTermMember2021-09-300001729173us-gaap:MeasurementInputExpectedDividendRateMember2021-09-300001729173uxin:VehicleSalesMembersrt:MinimumMember2021-04-012021-09-300001729173uxin:VehicleSalesMembersrt:MaximumMember2021-04-012021-09-300001729173uxin:ValueAddedServiceMember2021-04-012021-09-300001729173uxin:CommissionRevenueMember2021-04-012021-09-300001729173uxin:Notes2024Member2021-04-012021-09-300001729173srt:MinimumMember2019-09-220001729173srt:MaximumMember2019-09-220001729173uxin:NioCapitalAndJoyCapitalMember2021-07-122021-07-120001729173uxin:Mr.KunDaiAndXinGaoGroupMember2018-05-282018-05-280001729173uxin:YouxinInternetBeijingInformationTechnologyCo.Ltd.Memberus-gaap:StateAdministrationOfTaxationChinaMember2019-04-012020-03-310001729173uxin:YouxinInternetBeijingInformationTechnologyCo.Ltd.Memberus-gaap:StateAdministrationOfTaxationChinaMember2018-04-012019-03-310001729173uxin:YouxinInternetBeijingInformationTechnologyCo.Ltd.Memberus-gaap:StateAdministrationOfTaxationChinaMember2017-04-012018-03-3100017291732019-09-220001729173uxin:Notes2024Member2021-06-142021-06-140001729173us-gaap:SegmentDiscontinuedOperationsMemberuxin:TwoCIntraRegionalBusinessAndLoanFacilitationRelatedServiceMember2021-04-012021-09-300001729173us-gaap:SegmentDiscontinuedOperationsMemberuxin:TwoBBusinessMember2021-04-012021-09-3000017291732020-04-012021-04-012021-09-3000017291732020-04-012020-04-012021-03-310001729173uxin:SilverAuthenticationMember2021-04-012021-09-300001729173uxin:GoldenAuthenticationMember2021-04-012021-09-3000017291732020-03-012020-03-3100017291732020-04-012021-03-310001729173uxin:PrepaidExpenseAndOtherAssetsCurrentMember2021-09-300001729173us-gaap:OtherNoncurrentAssetsMember2021-09-300001729173uxin:YouxinpaiBeijingInformationTechnologyCo.LtdMemberus-gaap:StateAdministrationOfTaxationChinaMember2021-04-012021-09-300001729173uxin:YouxinpaiBeijingInformationTechnologyCo.LtdMemberus-gaap:StateAdministrationOfTaxationChinaMember2020-04-012021-03-310001729173uxin:YouxinpaiBeijingInformationTechnologyCo.LtdMemberus-gaap:StateAdministrationOfTaxationChinaMember2019-04-012020-03-310001729173uxin:OtherSubsidiariesMemberus-gaap:StateAdministrationOfTaxationChinaMember2019-04-012020-03-310001729173uxin:YouxinpaiBeijingInformationTechnologyCo.LtdMemberus-gaap:StateAdministrationOfTaxationChinaMember2018-04-012019-03-310001729173uxin:OtherSubsidiariesMemberus-gaap:StateAdministrationOfTaxationChinaMember2018-04-012019-03-310001729173uxin:OtherSubsidiariesMemberus-gaap:StateAdministrationOfTaxationChinaMember2017-04-012018-03-310001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMember2021-06-302021-06-300001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMember2021-06-142021-06-1400017291732019-04-012020-03-3100017291732018-06-272018-06-270001729173uxin:ConvertibleNotePurchaseAgreementWithPacificBridgetOverseasPionner1Member2020-07-232020-07-230001729173srt:MinimumMember2021-04-012021-09-300001729173srt:MaximumMember2021-04-012021-09-300001729173uxin:GuaranteeLiabilitiesStandReadyMember2020-04-012020-09-300001729173uxin:SecondClosingMemberuxin:NioCapitalAndJoyCapitalMemberus-gaap:SubsequentEventMember2021-11-300001729173uxin:SecondClosingMemberus-gaap:SubsequentEventMember2021-11-3000017291732020-01-160001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMember2021-06-140001729173uxin:SeniorConvertiblePreferredStockMember2021-06-1400017291732021-08-012021-08-310001729173uxin:YouxinYishoucheInformationTechnologyCoLtdMember2021-04-012021-09-300001729173uxin:YouxinInternetInformationTechnologyCoLtdMember2021-04-012021-09-300001729173uxin:SecondClosingMemberuxin:NioCapitalAndJoyCapitalMemberus-gaap:SubsequentEventMember2021-11-302021-11-300001729173uxin:SecondClosingMemberus-gaap:SubsequentEventMember2021-11-012021-11-3000017291732021-07-132022-07-120001729173uxin:FirstClosingMemberuxin:NioCapitalAndJoyCapitalMember2021-07-122021-07-120001729173uxin:FirstClosingMember2021-07-122021-07-120001729173uxin:NioCapitalAndJoyCapitalMember2021-06-142021-06-140001729173uxin:NioCapitalAndJoyCapitalMember2021-06-012021-06-3000017291732021-06-012021-06-300001729173uxin:AmericanDepositorySharesMember2021-06-300001729173us-gaap:CommonClassAMember2021-06-300001729173us-gaap:AdditionalPaidInCapitalMember2021-04-012021-09-300001729173srt:ExecutiveOfficerMemberus-gaap:CommonStockMemberuxin:VestingAccelerationMember2018-05-252018-05-250001729173uxin:CertainOptionHoldersMemberus-gaap:CommonStockMember2018-05-252018-05-250001729173uxin:FounderAndChiefExecutiveOfficerMemberus-gaap:RestrictedStockMember2018-05-142018-05-140001729173uxin:DerivativeLiabilityShareSwapFeatureRedeemableNonControllingInterestsMemberus-gaap:CommonClassAMemberus-gaap:IPOMember2021-04-012021-09-300001729173us-gaap:CommonClassAMemberus-gaap:PrivatePlacementMember2020-10-062020-10-060001729173uxin:AmericanDepositarySharesMemberus-gaap:IPOMember2018-06-272018-06-270001729173us-gaap:CommonClassAMemberus-gaap:IPOMember2018-06-272018-06-270001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMemberus-gaap:CommonClassAMember2021-07-122021-07-120001729173us-gaap:CommonClassAMember2021-06-142021-06-140001729173us-gaap:CommonStockMember2021-04-012021-09-300001729173uxin:ConvertibleNotePurchaseAgreementWithPacificBridgetOverseasPionner1Memberus-gaap:CommonClassAMember2020-07-232020-07-230001729173uxin:FounderAndChiefExecutiveOfficerMemberus-gaap:CommonClassBMember2020-04-012021-03-310001729173us-gaap:CommonClassAMember2018-06-262018-06-260001729173us-gaap:RetainedEarningsMember2021-09-300001729173us-gaap:ParentMember2021-09-300001729173us-gaap:NoncontrollingInterestMember2021-09-300001729173us-gaap:AdditionalPaidInCapitalMember2021-09-300001729173us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300001729173us-gaap:RetainedEarningsMember2021-03-310001729173us-gaap:ParentMember2021-03-310001729173us-gaap:NoncontrollingInterestMember2021-03-310001729173us-gaap:AdditionalPaidInCapitalMember2021-03-310001729173us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001729173us-gaap:RetainedEarningsMember2020-09-300001729173us-gaap:ParentMember2020-09-300001729173us-gaap:NoncontrollingInterestMember2020-09-300001729173us-gaap:AdditionalPaidInCapitalMember2020-09-300001729173us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300001729173us-gaap:RetainedEarningsMember2020-03-310001729173us-gaap:ParentMember2020-03-310001729173us-gaap:NoncontrollingInterestMember2020-03-310001729173us-gaap:AdditionalPaidInCapitalMember2020-03-310001729173us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-3100017291732019-09-222019-09-220001729173us-gaap:EmployeeStockOptionMember2020-04-012021-03-310001729173us-gaap:EmployeeStockOptionMember2019-04-012020-03-310001729173us-gaap:EmployeeStockOptionMember2018-12-310001729173us-gaap:EmployeeStockOptionMember2021-09-300001729173us-gaap:EmployeeStockOptionMember2021-03-310001729173us-gaap:EmployeeStockOptionMember2020-09-300001729173us-gaap:EmployeeStockOptionMember2020-03-310001729173us-gaap:EmployeeStockOptionMemberuxin:IncentivePlan2018Member2018-11-190001729173us-gaap:EmployeeStockOptionMemberuxin:ShareIncentivePlan2018Member2018-02-140001729173us-gaap:EmployeeStockOptionMemberuxin:StockIncentivePlan2013Member2016-04-200001729173us-gaap:EmployeeStockOptionMemberuxin:StockIncentivePlan2013Member2015-11-130001729173us-gaap:EmployeeStockOptionMemberuxin:StockIncentivePlan2013Member2013-03-260001729173srt:ExecutiveOfficerMemberus-gaap:CommonStockMember2018-05-252018-05-250001729173srt:MinimumMemberus-gaap:EmployeeStockOptionMember2021-04-012021-09-300001729173srt:MaximumMemberus-gaap:EmployeeStockOptionMember2021-04-012021-09-300001729173srt:MinimumMemberus-gaap:EmployeeStockOptionMember2020-04-012020-09-300001729173srt:MaximumMemberus-gaap:EmployeeStockOptionMember2020-04-012020-09-300001729173us-gaap:RestrictedStockMember2021-09-300001729173us-gaap:RestrictedStockMember2021-03-310001729173us-gaap:RestrictedStockMember2020-09-300001729173us-gaap:RestrictedStockMember2020-03-310001729173us-gaap:RestrictedStockMember2021-04-012021-09-300001729173us-gaap:RestrictedStockMember2020-04-012020-09-300001729173us-gaap:EmployeeStockOptionMemberuxin:StockIncentivePlan2013Member2013-03-262013-03-260001729173us-gaap:EmployeeStockOptionMember2013-03-262013-03-260001729173uxin:CreditLossOfLoanRecognizedAsResultOfPaymentUnderGuaranteeMember2021-09-300001729173uxin:CreditLossOfLoanRecognizedAsResultOfPaymentUnderGuaranteeMember2021-04-012021-09-300001729173uxin:GuaranteeLiabilitiesStandReadyMember2021-04-012021-09-300001729173uxin:OtherReceivablesMember2021-04-012021-09-300001729173uxin:AmericanDepositarySharesMemberus-gaap:IPOMember2021-09-300001729173uxin:AmericanDepositarySharesMemberus-gaap:IPOMember2018-06-270001729173srt:MinimumMember2020-04-012021-09-300001729173srt:MaximumMember2020-04-012021-09-3000017291732020-04-012021-09-3000017291732020-04-012021-03-310001729173uxin:WholesaleVehicleSalesMember2021-04-012021-09-300001729173uxin:RetailVehicleSalesMember2021-04-012021-09-300001729173us-gaap:ServiceOtherMember2021-04-012021-09-300001729173uxin:ValueAddedServiceMember2020-04-012020-09-300001729173uxin:RetailVehicleSalesMember2020-04-012020-09-300001729173uxin:CommissionRevenueMember2020-04-012020-09-300001729173us-gaap:ServiceOtherMember2020-04-012020-09-300001729173uxin:FiftyEight.comMember2021-04-012021-09-300001729173uxin:FiftyEight.comMember2020-04-012020-09-300001729173us-gaap:VehiclesMember2021-04-012021-09-300001729173us-gaap:TechnologyEquipmentMember2021-04-012021-09-300001729173us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2021-04-012021-09-300001729173us-gaap:FurnitureAndFixturesMember2021-04-012021-09-300001729173us-gaap:VehiclesMember2020-04-012021-03-310001729173us-gaap:TechnologyEquipmentMember2020-04-012021-03-310001729173us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2020-04-012021-03-310001729173us-gaap:FurnitureAndFixturesMember2020-04-012021-03-310001729173us-gaap:RetainedEarningsMember2021-04-012021-09-300001729173uxin:WeicheInformationTechnologyCo.LtdMember2018-05-012018-05-310001729173uxin:JinchengConsumerFinanceSichuanCo.LtdMember2017-09-012017-09-300001729173us-gaap:ParentMember2021-04-012021-09-300001729173us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-09-300001729173us-gaap:RetainedEarningsMember2020-04-012020-09-300001729173us-gaap:ParentMember2020-04-012020-09-300001729173us-gaap:NoncontrollingInterestMember2020-04-012020-09-300001729173us-gaap:CommonStockMember2020-04-012020-09-300001729173us-gaap:AdditionalPaidInCapitalMember2020-04-012020-09-300001729173us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:FinancingReceivableUptoSixMonthsPastDueMember2021-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:FinancingReceivableSixMonthsToTwelveMonthsPastDueMember2021-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:FinancingReceivableOverTwelveMonthsPastDueMember2021-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:CreditAssessmentSecondaryMember2021-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:CreditAssessmentNormalMember2021-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:CreditAssessmentAttentionMember2021-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:FinancingReceivableUptoSixMonthsPastDueMember2021-03-310001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:FinancingReceivableSixMonthsToTwelveMonthsPastDueMember2021-03-310001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:FinancingReceivableOverTwelveMonthsPastDueMember2021-03-310001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:CreditAssessmentSecondaryMember2021-03-310001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:CreditAssessmentNormalMember2021-03-310001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMemberuxin:CreditAssessmentAttentionMember2021-03-310001729173uxin:YouxInShaanxiTechnologyInformationCo.LtdMember2021-09-300001729173uxin:YouxinpaiInformationTechnologyCoLtdMember2021-09-300001729173uxin:YouhanInformationTechnologyCoLtdMember2021-09-300001729173uxin:YouguInformationTechnologyCoLtdMember2021-09-300001729173uxin:YoufangBeijingInformationTechnologyCo.LtdMember2021-09-300001729173uxin:KaiFengFinanceLeaseCoLtdMember2021-09-300001729173uxin:YouyuanBeijingInformationTechnologyCo.LtdMember2017-12-310001729173uxin:LongTermDebtNonCurrentMember2021-03-310001729173uxin:LongTermDebtCurrentMember2021-09-300001729173uxin:LongTermDebtCurrentMember2021-03-310001729173uxin:JuneAgreement2021Member2021-09-300001729173uxin:SupplementalAgreementMember2021-06-210001729173srt:MinimumMember2021-09-300001729173srt:MaximumMember2021-09-300001729173us-gaap:SegmentDiscontinuedOperationsMember2020-04-012020-09-300001729173us-gaap:SegmentContinuingOperationsMember2020-04-012020-09-300001729173uxin:GuaranteeLiabilitiesStandReadyMember2021-09-300001729173uxin:GuaranteeLiabilitiesContingentMember2021-09-300001729173uxin:GuaranteeLiabilitiesStandReadyMember2021-03-310001729173uxin:GuaranteeLiabilitiesContingentMember2021-03-310001729173uxin:GuaranteeLiabilitiesStandReadyMember2020-09-300001729173uxin:JulyAgreement2020Member2020-07-230001729173uxin:GuaranteeLiabilitiesStandReadyMember2020-03-310001729173us-gaap:CopyrightsMember2021-04-012021-09-300001729173uxin:JinchengConsumerFinanceSichuanCo.LtdMember2021-09-300001729173uxin:JinchengConsumerFinanceSichuanCo.LtdMember2021-03-310001729173uxin:WeicheInformationTechnologyCo.LtdMember2021-09-300001729173uxin:BeijingGangjianShoubaoCulturalMediaCenterLlpMember2021-09-300001729173uxin:WeicheInformationTechnologyCo.LtdMember2021-03-310001729173uxin:BeijingGangjianShoubaoCulturalMediaCenterLlpMember2021-03-310001729173uxin:WeicheInformationTechnologyCo.LtdMember2018-05-310001729173uxin:JinchengConsumerFinanceSichuanCo.LtdMember2017-09-300001729173uxin:OtherSubsidiariesMemberus-gaap:StateAdministrationOfTaxationChinaMember2021-04-012021-09-300001729173us-gaap:InlandRevenueHongKongMember2021-04-012021-09-300001729173us-gaap:StateAdministrationOfTaxationChinaMember2007-03-062007-03-060001729173uxin:UnpaidAdvertisingExpensesMemberuxin:FiftyEight.comMember2021-03-310001729173uxin:ConsiderationReceivablesMemberuxin:FiftyEight.comMember2021-03-310001729173us-gaap:SegmentDiscontinuedOperationsMemberuxin:TwoBBusinessMember2020-04-140001729173us-gaap:SegmentDiscontinuedOperationsMemberuxin:OnlineUsedCarAuction2bBusinessMember2020-03-240001729173us-gaap:SegmentDiscontinuedOperationsMemberuxin:SalvageCarRelatedBusinessMember2020-01-160001729173us-gaap:SegmentDiscontinuedOperationsMemberuxin:TwoCIntraRegionalBusinessAndLoanFacilitationRelatedServiceMember2020-04-012020-09-300001729173us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300001729173us-gaap:FairValueMeasurementsRecurringMember2021-09-300001729173uxin:SecondClosingMemberuxin:JoyCapitalMemberus-gaap:SubsequentEventMember2021-11-300001729173srt:MinimumMemberuxin:LongTermDebtCurrentMember2021-09-300001729173srt:MaximumMemberuxin:LongTermDebtCurrentMember2021-09-300001729173uxin:LongTermDebtNonCurrentMember2021-09-300001729173uxin:ConvertibleNotePurchaseAgreementWithPacificBridgetOverseasPionner1Member2020-07-230001729173uxin:ConvertiblenotepurchaseagreementwithaffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMember2019-06-100001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMemberus-gaap:CommonClassAMember2021-06-302021-06-300001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMemberus-gaap:CommonClassAMember2021-06-142021-06-140001729173uxin:ConvertiblenotepurchaseagreementwithaffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMemberuxin:AmericanDepositarySharesMember2019-06-102019-06-1000017291732021-06-300001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMemberuxin:AmericanDepositarySharesMember2021-06-140001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMemberus-gaap:CommonClassAMember2021-06-140001729173uxin:ConvertiblenotepurchaseagreementwithaffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMemberuxin:AmericanDepositarySharesMember2019-06-100001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember2021-09-300001729173uxin:ConvertibleNotePurchaseAgreementWithAffiliatesOf58.comWarburgPincusTpgAndCertainOtherInvestorsMember2021-09-300001729173uxin:Notes2024Member2021-03-310001729173us-gaap:CommonStockMember2021-09-300001729173us-gaap:CommonStockMember2021-03-310001729173us-gaap:CommonStockMember2020-09-300001729173us-gaap:CommonStockMember2020-03-310001729173us-gaap:CommonClassBMember2021-09-300001729173us-gaap:CommonClassAMember2021-09-300001729173us-gaap:CommonClassBMember2021-03-310001729173us-gaap:CommonClassAMember2021-03-310001729173uxin:NioCapitalAndJoyCapitalMember2021-06-300001729173us-gaap:SegmentDiscontinuedOperationsMemberuxin:TwoBBusinessMember2020-04-012020-09-300001729173us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-04-012021-09-300001729173us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-04-012020-09-300001729173us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-09-300001729173us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-03-3100017291732020-03-3100017291732020-09-300001729173us-gaap:RedeemableConvertiblePreferredStockMember2021-04-012021-09-300001729173us-gaap:EmployeeStockOptionMember2021-04-012021-09-300001729173us-gaap:EmployeeStockOptionMember2020-04-012020-09-300001729173us-gaap:ConvertibleDebtSecuritiesMember2020-04-012020-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember2021-09-300001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember2021-03-310001729173uxin:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember2021-04-012021-09-300001729173us-gaap:EmployeeStockOptionMember2021-04-012021-09-300001729173us-gaap:EmployeeStockOptionMember2020-04-012020-09-3000017291732020-04-012020-09-300001729173us-gaap:VehiclesMember2021-09-300001729173us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2021-09-300001729173us-gaap:LeaseholdImprovementsMember2021-09-300001729173us-gaap:FurnitureAndFixturesMember2021-09-300001729173us-gaap:ComputerEquipmentMember2021-09-300001729173us-gaap:VehiclesMember2021-03-310001729173us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2021-03-310001729173us-gaap:LeaseholdImprovementsMember2021-03-310001729173us-gaap:FurnitureAndFixturesMember2021-03-310001729173us-gaap:ComputerEquipmentMember2021-03-310001729173us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-09-300001729173us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-03-3100017291732021-03-3100017291732021-09-30utr:kmiso4217:CNYiso4217:USDxbrli:sharesiso4217:USDxbrli:sharesxbrli:pureuxin:itemiso4217:USDiso4217:CNYiso4217:CNYxbrli:sharesuxin:D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2021

--------------

Commission File Number: 001-38527

----------

Uxin Limited

1&3/F, No. 12 Beitucheng East Road,

Chaoyang District, Beijing 100029,

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ___X____ Form 40-F _________

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):________________

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):________________

EXPLANATORY NOTE

This current report on Form 6-K is hereby incorporated by reference to the registration statement on Form F-3 (File No. 333-259199) filed with the U.S. Securities and Exchange Commission on August 31, 2021.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

UXIN LIMITED

By:

 

/s/ Feng Lin

Name:

Feng Lin

Title:

Chief Financial Officer

Date: December 29, 2021

Exhibit Index

Exhibit 99.1—

   

Unaudited Interim Consolidated Financial Statements of Uxin Limited as of and for the six months ended September 30, 2021

0001729173--03-312021Q2false2021-09-302912904160408098614080986110716216984080986140809861114542712566990291us-gaap:ValuationTechniqueOptionPricingModelMember4080986111454271254080986110716216982.26

Exhibit 99.1

UXIN LIMITED

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

Unaudited Interim Condensed Consolidated Balance Sheets as of March 31, 2021 and September 30, 2021

F-2-F-3

Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss for the six months ended September 30, 2020 and 2021

F-4

Unaudited Interim Condensed Consolidated Statements of Changes in Shareholders’ Equity/(Deficit) for the six months ended September 30, 2020 and 2021

F-5

Unaudited Interim Condensed Consolidated Statements of Cash Flows for the six months ended September 30, 2020 and 2021

F-6-F-7

Notes to the Unaudited Interim Condensed Consolidated Financial Statements

F-8

F-1

UXIN LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31, 2021 AND SEPTEMBER 30, 2021

(All amounts in thousands, except for share and per share data, unless otherwise noted)

March 31,

September 30, 

2021

2021

    

RMB

    

RMB

    

US$

(Note 2.7)

ASSETS

  

  

  

Current assets:

  

  

  

Cash and cash equivalents

192,605

216,782

33,644

Restricted cash

41,114

13,847

2,149

Accounts receivable, net

2,446

3,317

515

Amounts due from related parties, net of provision for credit losses of RMB6,456 as of March 31, 2021

129,383

Loan recognized as a result of payment under the guarantee, net of provision for credit losses of RMB1,182,609 and RMB733,169 as of March 31, 2021 and September 30, 2021, respectively

179,947

130,347

20,230

Other receivables, net of provision for credit losses of RMB20,980 and RMB25,037 as of March 31, 2021 and September 30, 2021, respectively

110,025

189,735

29,446

Inventory, net

69,587

291,773

45,282

Prepaid expenses and other current assets

107,836

95,665

14,847

Total current assets

832,943

941,466

146,113

Non-current assets:

Property, equipment and software, net

29,306

27,186

4,219

Intangible assets, net

27

7

1

Long-term investments

288,428

288,702

44,806

Other non-current assets

36,000

30,000

4,656

Right-of-use assets, net

46,829

39,388

6,113

Total non-current assets

400,590

385,283

59,795

Total assets

1,233,533

1,326,749

205,908

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT

  

  

Current liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the primary beneficiary of RMB65,476 and RMB63,331 as of March 31, 2021 and September 30, 2021, respectively)

  

  

Current portion of long-term borrowings

79,560

27,063

4,200

Accounts payable

101,205

95,047

14,751

Guarantee liabilities

2,441

566

88

Other payables and other current liabilities

788,303

552,230

85,705

Deferred revenue

23,296

19,989

3,102

Amounts due to related parties

69,434

Operating lease liabilities, current

11,657

17,894

2,777

Consideration payment to WeBank, current

71,309

53,357

8,281

Warrant liabilities

1,815,265

281,725

Forward contract liabilities

547,985

85,046

Total current liabilities

1,147,205

3,129,396

485,675

Non-current liabilities

Long-term borrowings

233,000

233,000

36,161

Convertible notes, non-current

1,614,040

Operating lease liabilities, non-current

34,365

12,362

1,919

Consideration payment to WeBank, non-current

200,778

141,195

21,913

Other non-current liabilities

1,043,508

161,949

Total non-current liabilities

2,082,183

1,430,065

221,942

Total liabilities

3,229,388

4,559,461

707,617

F-2

UXIN LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31, 2021 AND SEPTEMBER 30, 2021

(All amounts in thousands, except for share and per share data, unless otherwise noted)

March 31,

September 30, 

2021

2021

    

    

    

RMB

    

RMB

    

US$

(Note 2.7)

Contingencies and commitments

24

Mezzanine equity

Senior convertible preferred shares (US$0.0001 par value, nil and 1,000,000,000 shares authorized as of March 31, 2021 and September 30, 2021, respectively; nil and 291,290,416 shares issued and outstanding as of March 31, 2021 and September 30, 2021, respectively)

Total Mezzanine equity

Shareholders’ deficit

  

  

  

Ordinary shares (US$0.0001 par value, 10,000,000,000 and 9,000,000,000 shares authorized as of March 31, 2021 and September 30, 2021, respectively; 1,071,621,698 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of March 31, 2021; 1,145,427,125 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of September 30, 2021)

733

781

121

Additional paid-in capital

13,695,877

14,228,359

2,208,207

Accumulated other comprehensive income

217,747

232,146

36,028

Accumulated deficit

(15,910,049)

(17,693,835)

(2,746,040)

Total UXIN LIMITED shareholders’ deficit

(1,995,692)

(3,232,549)

(501,684)

Non-controlling interests

(163)

(163)

(25)

Total shareholders’ deficit

(1,995,855)

(3,232,712)

(501,709)

Total liabilities, mezzanine equity and shareholders’ deficit

1,233,533

1,326,749

205,908

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-3

UXIN LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2020 AND 2021

(All amounts in thousands, except for share and per share data, unless otherwise noted)

Six Months Ended September 30,

2020

2021

    

RMB

    

RMB

    

US$

(Note 2.7)

Revenues:

  

  

  

Retail vehicle sales

36,108

228,043

35,392

Wholesale vehicle sales

377,881

58,646

Commission revenue

41,803

Value-added service revenue

35,102

Others (including RMB6,707 and RMB176 from related party during the six months ended September 30, 2020 and 2021, respectively)

25,580

17,807

2,764

Total revenues

138,593

623,731

96,802

Cost of revenues

(173,396)

(597,968)

(92,803)

Gross (loss)/ profit

(34,803)

25,763

3,999

Operating expenses:

Sales and marketing

(191,276)

(86,304)

(13,394)

Research and development

(41,873)

(16,493)

(2,560)

General and administrative

(142,749)

(73,230)

(11,365)

(Provision for)/reversal of credit losses, net

(94,056)

6,782

1,053

Total operating expenses

(469,954)

(169,245)

(26,266)

Other operating income, net

213,796

46,872

7,274

Loss from continuing operations

(290,961)

(96,610)

(14,993)

Interest income

43,840

3,212

498

Interest expenses

(52,885)

(28,110)

(4,363)

Other income

4,999

3,509

545

Other expenses

(5,765)

(5,890)

(914)

Foreign exchange gains/(losses)

74

(5,222)

(810)

Inducement charge

(121,056)

Fair value impact of the issuance of senior convertible preferred shares

(1,654,949)

(256,844)

Loss from continuing operations before income tax expense

(421,754)

(1,784,060)

(276,881)

Income tax expense

(32)

Equity in income of affiliates, net of tax

10,482

274

43

Net loss from continuing operations, net of tax

(411,304)

(1,783,786)

(276,838)

Less: net loss attributable to non-controlling interests shareholders

(7)

Net loss from continuing operations, attributable to UXIN LIMITED’s ordinary shareholders

(411,297)

(1,783,786)

(276,838)

Discontinued operations

Net income from discontinued operations before income tax

295,744

Net income from discontinued operations

295,744

Net income from discontinued operations attributable to UXIN LIMITED’s ordinary shareholders

295,744

Net loss

(115,560)

(1,783,786)

(276,838)

Less: net loss attributable to non-controlling interests shareholders

(7)

Net loss attributable to UXIN LIMITED's ordinary shareholders

(115,553)

(1,783,786)

(276,838)

Net loss

(115,560)

(1,783,786)

(276,838)

Other comprehensive income

Foreign currency translation, net of tax nil

64,782

14,399

2,235

Total comprehensive loss

(50,778)

(1,769,387)

(274,603)

Less: total comprehensive loss attributable to non-controlling interests shareholders

(7)

Total comprehensive loss attributable to UXIN LIMITED’s ordinary shareholders

(50,771)

(1,769,387)

(274,603)

Net loss from continuing operations, attributable to ordinary shareholders

(411,297)

(1,783,786)

(276,838)

Net income from discontinued operations, attributable to ordinary shareholders

295,744

Net loss attributable to UXIN LIMITED’s ordinary shareholders

(115,553)

(1,783,786)

(276,838)

Weighted average shares outstanding – basic

997,541,095

1,177,159,051

1,177,159,051

Weighted average shares outstanding – diluted

1,225,268,425

1,367,056,109

1,367,056,109

Net (loss)/ income per share for ordinary shareholders, basic

Continuing operations

(0.41)

(1.52)

(0.24)

Discontinued operations

0.30

Net (loss)/ income per share for ordinary shareholders, diluted

Continuing operations

(0.41)

(1.91)

(0.30)

Discontinued operations

0.27

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-4

UXIN LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY/(DEFICIT)

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2020 AND 2021

(All amounts in thousands, except for share and per share data, unless otherwise noted)

    

Ordinary share

    

    

    

    

Total UXIN

    

    

(US $0.0001 par value)

Accumulated other

LIMITED

Non-

Total

Number of

Additional paid-in

comprehensive

Accumulated

shareholders’

controlling

shareholders’

shares

Amount

capital

income

deficit

equity/(deficit)

interest

equity/(deficit)

RMB

RMB

RMB

RMB

RMB

RMB

RMB

Balance as of March 31, 2020

887,667,457

581

13,036,989

106,764

(15,488,827)

(2,344,493)

(154)

(2,344,647)

Foreign currency translation adjustments

64,782

64,782

64,782

Net loss

(115,553)

(115,553)

(7)

(115,560)

Share-based compensation

(20,330)

(20,330)

(20,330)

Issuance of ordinary shares due to exercise of the share options

2,028,907

1

994

995

995

Conversion of convertible notes

136,279,973

93

506,659

506,752

506,752

Balance as of September 30, 2020

1,025,976,337

675

13,524,312

171,546

(15,604,380)

(1,907,847)

(161)

(1,908,008)

Ordinary share

Total UXIN

(US $0.0001 par value)

Accumulated other

LIMITED

Non-

Total

Number of

Additional paid-in

comprehensive

Accumulated

shareholders’

controlling

shareholders’

shares

Amount

capital

income

deficit

equity/(deficit)

interest

equity/(deficit)

RMB

RMB

RMB

RMB

RMB

RMB

RMB

Balance as of March 31, 2021

1,112,431,559

733

13,695,877

217,747

(15,910,049)

(1,995,692)

(163)

(1,995,855)

Foreign currency translation adjustments

14,399

14,399

14,399

Net loss

(1,783,786)

(1,783,786)

(1,783,786)

Issuance of ordinary shares due to exercise of the share options

6,815,136

5

15,607

15,612

15,612

Share-based compensation

8,884

8,884

8,884

Debt restructuring gain from equity holders of the Company (Note 12)

61,018

61,018

61,018

Conversion of convertible notes (Note 12)

66,990,291

43

446,973

447,016

447,016

Balance as of September 30, 2021

1,186,236,986

781

14,228,359

232,146

(17,693,835)

(3,232,549)

(163)

(3,232,712)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements

F-5

Table of Contents

UXIN LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2020 AND 2021

(All amounts in thousands, except for share and per share data, unless otherwise noted)

Six Months Ended September 30,

2020

2021

    

RMB

    

RMB

    

US$

(Note 2.7)  

Cash flows from operating activities:

 

  

 

  

 

Net loss (continuing and discontinued operations)

 

(115,560)

 

(1,783,786)

 

(276,838)

Adjustments to reconcile net loss to net cash generated from operating activities:

 

 

Shared-based compensation

 

(20,330)

 

8,884

 

1,379

Depreciation and amortization of property, equipment and software

 

28,787

 

8,096

 

1,256

Amortization of intangible assets

 

77

 

20

 

3

Amortization of right-of-use assets

5,798

5,569

 

864

Loss/ (gain) from disposal of property, equipment and software

 

4,805

 

(1,390)

(216)

Equity in income of affiliates

 

(10,482)

 

(274)

 

(43)

Provision for/ (reversal of) inventory

11,623

(258)

(40)

Goodwill impairment

9,541

Provision for/ (reversal of) credit losses

94,056

(6,782)

(1,053)

Impairment of net assets transferred

420,000

Guarantee income

(207,445)

(72)

(11)

Transaction gain from divestiture transactions, net

(721,211)

Discounting impact of consideration payment to WeBank

(39,335)

6,268

973

Inducement charge of convertible notes

121,056

Fair value impact of the issuance of senior convertible preferred shares (Note 12, 17)

1,654,949

256,844

Gains from waiver of operating payables

(49,141)

(7,627)

Changes in operating assets and liabilities:

 

  

 

  

 

  

Receivables, prepaid expenses and other current assets

 

28,278

20,300

3,151

Amounts due from related parties

21,108

3,817

592

Amounts due to related parties

37,736

Loan recognized as a result of payment under the guarantee

 

(13,550)

65,068

10,098

Advance to sellers

 

33,127

Financial lease receivables

 

8,333

10

2

Inventory

 

(33,485)

(223,155)

(34,633)

Payables, accruals and other liabilities

 

(204,286)

(208,635)

(32,380)

Deposit of interests from consumers and payable to financing partners

 

(17,904)

Deferred revenue

 

(7,336)

(3,307)

(513)

Consideration payment to WeBank

(274,631)

(46,547)

(7,224)

Net cash used in operating activities

 

(841,230)

 

(550,366)

 

(85,416)

Cash flows from investing activities:

 

 

 

Proceeds from disposal of property, equipment and software

 

5,092

1,636

254

Purchase of property, equipment and software

 

(358)

(4,995)

(775)

Proceeds from disposal of subsidiaries, net of cash disposed

100,000

Proceeds from disposal of 2B business

300,072

Net cash generated from/ (used in) investing activities

 

404,806

 

(3,359)

 

(521)

F-6

Table of Contents

UXIN LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2020 AND 2021

(All amounts in thousands, except for share and per share data, unless otherwise noted)

Six Months Ended September 30,

2020

2021

    

RMB

    

RMB

    

US$

(Note 2.7)  

Cash flows from financing activities:

 

 

Repayment of borrowings

 

(94,999)

 

(52,497)

 

(8,147)

Repayment of convertible notes

(58,956)

(9,150)

Proceeds from exercise of options

995

15,612

2,423

Proceeds from the issuance of senior convertible preferred shares in conjunction with warrants

647,771

100,532

Net cash (used in)/ generated from financing activities

 

(94,004)

 

551,930

85,658

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

(7,570)

 

(1,295)

 

(201)

Net decrease in cash, cash equivalents and restricted cash

 

(537,998)

 

(3,090)

 

(480)

Cash, cash equivalents and restricted cash at beginning of the period

797,435

233,719

36,273

Cash, cash equivalents and restricted cash at end of the period

 

259,437

 

230,629

35,793

Six Months Ended September 30,

2020

2021

RMB

RMB

US$

Supplemental disclosure of cash flow information

 

 

 

— Cash paid for income tax

 

33

 

7

 

1

— Cash paid for interest

 

11,152

 

4,810

 

747

Supplemental schedule of non-cash investing and financing activities

 

 

 

— Unreceived disposal consideration

 

174,433

 

87,432

 

13,569

— Unpaid repurchase consideration to monitory interest

8,319

— Issuance of forward contract

736,129

114,245

— Conversion of convertible notes into Class A ordinary shares

447,016

69,376

Six Months Ended September 30,

    

2020

    

2021

    

RMB

    

RMB

    

US$

Cash and cash equivalents

219,318

 

216,782

33,644

Restricted cash

40,119

 

13,847

2,149

Total cash, cash equivalents and restricted cash

259,437

 

230,629

35,793

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements

F-7

Table of Contents

UXIN LIMITED

NOTES TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(All amounts in thousands, except for share and per share data, unless otherwise noted)

1. PRINCIPAL ACTIVITIES AND ORGANIZATION

The accompanying unaudited interim condensed consolidated financial statements include the financial statements of Uxin Limited (the “Company” or “Uxin”), its subsidiaries and variable interest entities (“VIEs”). The Company, its subsidiaries and the consolidated VIEs are collectively referred to as the “Group”.

The Company was incorporated under the law of the Cayman Islands as the exempted limited liability company on December 8, 2011. The Company serves as an investment holding company and currently has no operations of its own.

In 2016, the Group spun off its 2B business through a transfer of the equity interest of Youxinpai (Beijing) Information Technology Co., Ltd.(“Youxinpai”), a subsidiary of the Company, to a series of shareholders, which represented the same offshore shareholders of the Company, i.e. same shareholders with their respective onshore and offshore entities. In 2017, the Company made its strategic decision for the existing shareholders of Youxinpai to transfer 100% equity interest in Youxinpai to the Company (referred to as “the Reorganization”).

On June 27, 2018, the Company completed its IPO on NASDAQ Global Select Market under the symbol “UXIN”. The Company offered 25,000,000 American Depositary Shares (“ADS”). Each ADS represents three ordinary share and was sold to the public at US$9.00 per ADS. Also, the Company entered into Convertible Note Purchase Agreements with CNCB (Hong Kong) Investment Limited (the “CNCB (Hong Kong)”) and Golden Fortune Company Limited (the “Golden Fortune”) concurrently with the closing of IPO. Net proceeds raised by the Company from the IPO and private placement in total amounted to approximately US$382.1 million (equivalent to RMB 2.6 billion) after deducting underwriting discounts commissions and other offering expenses.

The Group’s principal operation and geographic market is in the People’s Republic of China (“PRC”). In order to devote all resources towards developing and scaling up its online used car business and to relieve its future growth from additional guarantee obligations or credit risks, the Group made a series of strategic divestiture transactions (the “Divestiture Transactions”) that occurred during 2019 and subsequent period in 2020. Since September 2020, the Group has shifted to “inventory-owing” model where the Group builds-up and sells its own inventory of used vehicles. Prior to these Divestiture Transactions disclosed in below paragraphs, the Group was primarily engaged in operating used car e-commerce platforms through its mobile applications (Uxin Used Car / Uxin Auction) and websites (www.xin.com / www.youxinpai.com), facilitating used car transaction services (2B / 2C) and facilitating financing solutions offered by third-party financing partners to buyers for their used car purchases (2C).

Divestiture Transactions

On January 16, 2020, the Company entered into definitive agreements with Beijing Hengtai Boche Auction Co. Ltd. (“Boche”) to divest its salvage car related business in exchange for a total cash consideration of RMB330 million. The cash consideration was further modified and revised to RMB295 million due to working capital adjustment. The transaction contemplated under the definitive agreements was closed in January 2020. Starting from January 31, 2020, the Company no longer retained power of control over salvage cars related business and accordingly deconsolidated related subsidiaries, mainly including Beijing Youxin Fengshun Lubao Vehicle Auction Co., Ltd., Beijing Fengshun Lubao Automotive Auction Co., Ltd., Zhejiang Dongwang Internet Technology Co., Ltd. and their wholly-owned subsidiaries (“Salvage Car Related Subsidiaries”), from the Company’s unaudited interim condensed consolidated financial statements.

On March 24, 2020, the Company entered into definitive agreements with 58.com to sell its 2B online used car auction business in exchange for a total gross consideration of US$105 million. The transaction contemplated under the definitive agreements was closed in April 2020.

F-8

Table of Contents

UXIN LIMITED

NOTES TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(All amounts in thousands, except for share and per share data, unless otherwise noted)

1. PRINCIPAL ACTIVITIES AND ORGANIZATION (CONTINUED)

Divestiture Transactions (continued)

On July 12, 2019 and September 30, 2019, the Company entered into a binding term sheet and definitive agreements, respectively, with Golden Pacer relating to the divestiture of its entire 2C intra-regional business and loan facilitation related service. On April 23, 2020, the Company entered into supplemental agreements with Golden Pacer to modify and supplement certain terms and conditions in connection with the divestiture. Pursuant to the series of agreements, the Company has divested its entire 2C intra-regional business to Golden Pacer and ceased to provide loan facilitation related guarantee starting from the three months ended December 31, 2019. The transaction contemplated under the definitive and supplemental agreements was closed on April 23, 2020.

After the Divestiture Transactions, the Group will primarily operate its cross-regional online used car transaction business (2C).

As of September 30, 2021, the Company’s principal subsidiaries and consolidated VIEs are as follows:

    

    

Date of

    

Percentage of

    

Place of

incorporation or

direct or

Principal

Subsidiaries

    

incorporation

    

acquisition

    

indirect

    

activities

Youxinpai (Beijing) Information Technology Co., Ltd.

 

Beijing

 

June 15, 2012

 

100

%  

Used car auction

Youhan (Shanghai) Information Technology Co., Ltd.

 

Shanghai

 

December 25, 2015

 

100

%  

Used car auction

Kai Feng Finance Lease (Hangzhou) Co., Ltd.

 

Hangzhou

 

March 25, 2013

 

100

%  

Loan facilitation

Yougu (Shanghai) Information Technology Co., Ltd.

 

Shanghai

 

March 13, 2015

 

100

%  

Online used car transaction service

Youxin (Shaanxi) Technology Information Co., Ltd.