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China-based Uxin Partnership with Zhengzhou Airport Industry

China's leading used car retailer, Uxin Limited  (Nasdaq: UXIN), announced a strategic partnership with Zhengzhou Airport Automobile Industry Co., Ltd.  to establish Intelligent Remanufacturing Co., Ltd.

China’s leading used car retailer, Uxin Limited announced a strategic partnership with Zhengzhou Airport Automobile Industry Co., Ltd. to establish Intelligent Remanufacturing Co., Ltd.

The joint venture agreement states that Uxin Industrial Investment Co., Ltd. , a wholly-owned subsidiary,will contribute RMB120.0 million and Zhengzhou Airport Industry will contribute RMB50.0 million, representing 70% and 30% of the Joint Venture’s total registered capital, respectively.

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This partnership between Uxin and Zhengzhou Airport Industry promotes the Henan automotive aftermarket industry and builds a leading used car brand in China.

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Mr. Kun Dai, Chairman and Chief Executive Officer of Uxin, commented, “Zhengzhou Airport’s strategic location, business-friendly environment, established automotive industry, and mature supply chain strongly support Uxin’s business growth. With ongoing local government support, Uxin can now focus resources on producing high-quality used cars in advanced factories. Additionally, Uxin aims to provide a top-tier retail service experience based on new retail concepts as well as improve large-scale vehicle operations using its digital capabilities. These efforts align with Uxin’s mission to transform and elevate China’s used car industry.”

About Uxin

Uxin promote economic growth for everybody. To help communities, clients, employees, and individuals of all backgrounds attain their greatest potential, we strengthen economies, create more fair opportunities, and promote sustainability.

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