Uxin Announces Strategic Partnership with State-Owned Enterprises in Jiangyin to Establish Used Car Superstore.

Uxin Limited, a leading used car retailer in China, has announced a strategic partnership with Jiangyin Huigang Qihang Investment Partnership and Jiangyin Chan Fa Ke Chuang Investment Partnership to establish a joint venture in Jiangyin. The joint venture will support Uxin's plan to establish a new used car superstore in Jiangyin, promoting the development of the automotive aftermarket industry in Jiangsu Province and building a leading brand in China's used car industry. Uxin will contribute RMB68 million, while Huigang Qihang and Chan Fa Ke Chuang will each contribute RMB16 million, representing approximately 68%, 16%, and 16% of the joint venture's total registered capital, respectively.