Uxin (UXIN) Q4 2025 Earnings Call Transcript | The Motley Fool

Image source: The Motley Fool. DATE Thursday, December 18, 2025 at 8:00 a.m. ET CALL PARTICIPANTS Founder, Chairman & CEO - Dai Kun Chief Financial Officer - Feng Lin Need a quote from a Motley Fool analyst? Email [email protected] TAKEAWAYS Retail Transaction Volume -- 14,020 units, up 134% year over year, representing the sixth consecutive quarter of year-over-year growth above 130%. Inventory Turnover -- Maintained at approximately 30 days despite significant expansion in inventory. Net Promoter Score (NPS) -- 67 for the quarter, sustaining a level of 65 or above for six consecutive quarters. Gross Margin -- Rose to 7.5%, the highest in the past three years, up from 7% in the same quarter last year and 5.2% the previous quarter. Retail Revenue -- RMB 820 million, up 84% year-over-year. Average Selling Price (ASP) -- RMB 58,000, compared to RMB 59,000 in the prior quarter and RMB 74,000 in the same period last year, reflecting a shift toward a more affordable inventory mix. Wholesale Transaction Volume -- 1,884 units, representing an 81% increase year-over-year. Total Revenue -- RMB 879 million, a 77% year-over-year increase. Adjusted EBITDA Loss -- RMB 5.3 million, narrowed by 43% compared to the prior year. Superstore Expansion -- Completed three new openings (Jinan, Wuhan, Zhengzhou) in 2025; now operating five superstores in total. Wuhan Superstore Performance -- Expected to reach nearly 1,800 retail units in December and approach 10% local market share. Zhengzhou Superstore Performance -- Expected to achieve approximately 900 retail units in December with market share nearing 5%. Strategic Partnerships -- Announced with Tianjin, Guangzhou, and Yinchuan local governments for new superstore projects, each supporting a capacity of over 3,000 vehicles. 2026 Expansion Pipeline -- Plans to open four to six additional superstores, entering a phase of accelerated nationwide growth. Pricing Technology -- Implements a machine learning-based system to set real-time competitive prices for each vehicle. Efficiency Model -- Operates an integrated factory-logistics-retail model for end-to-end control. Q4 2025 Outlook -- Retail transaction volume expected to exceed 18,500 units, implying year-over-year growth above 110%. Full-Year 2025 Guidance -- Retail transaction volume anticipated to surpass 50,000 units, indicating growth of over 130%. Future Gross Margin Target -- Long-term goal is approximately 10%, with Xi'an and Hefei stores already approaching this level. New Superstore Ramp-up -- Anticipates breakeven for a new superstore with 3,000-unit capacity in about nine months; profitability expected to mature at 18-24 months as inventory reaches planned capacity. Q4 2025 Revenue Guidance -- Total revenue projected to exceed RMB 1.15 billion. SUMMARY Management reported that learnings from earlier superstore launches are accelerating ramp-up efficiency for new locations. Executives highlighted that a stabilized new car price environment and improved store operating metrics are key contributors to recent gross margin gains. Regional superstore performance, such as notable market share progress in both Wuhan and Zhengzhou, was specifically cited as a lever for local scale and revenue growth. Partnerships with local governments were revealed as the principal mechanism for upcoming geographic expansion, with each new...

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