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Uxin Issues Statement on Unusual Trading Activities

By GlobeNewswire,  April 16, 2019, 09:24:00 PM EDT


BEIJING, April 17, 2019 (GLOBE NEWSWIRE) -- Uxin Limited ("Uxin" or the "Company") (Nasdaq:UXIN), the largest used car e-commerce platform in China, today issued a statement in response to unusual trading activities that occurred on April 16, 2019.

The Company believes the unusual stock trading activities were caused by a report published by J Capital Research on April 16, 2019, which contains errors of facts, misleading speculations and malicious interpretations of events. Uxin believes that the allegations in the report are completely without merit, and strongly condemns the publishing of false and misleading information.

The Company firmly denies the baseless allegations that it has falsified any sales data. Kun Dai, the Founder, Chairman and Chief Executive Officer of Uxin, also confirmed that he had never voluntarily sold any shares in Uxin as alleged in the report.

The Company is carefully reviewing the report and will provide additional information on the allegations as appropriate.

Uxin is committed to providing fair and transparent disclosure to investors and to rebutting any false claims that attempt to undermine confidence in Uxin's business, management and operations.

About Uxin

Uxin Limited (Nasdaq:UXIN) is the largest used car e-commerce platform in China. Uxin's mission is to enable people to buy the car of their choice, no matter where they are located or what their budget is. Uxin enables consumers and dealers to buy and sell cars through an innovative integrated online and offline platform that addresses each step of the transaction and covers the entire value chain. Its online presence is bolstered by an offline network of more than 670 service centers in over 270 prefecture level cities throughout China.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Uxin may also make written or oral forward- looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Uxin's goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin's expectations regarding demand for, and market acceptance of, its services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China's used car e-commerce industry; the laws and regulations relating to Uxin's industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor enquiries, please contact:

Nancy Song

Uxin Investor Relations

Tel: +86 10 5691-6765

Email: ir@xin.com

For media enquiries, please contact:

Yi-Ke Hong

Brunswick Group

Tel: +86 10 5960-8600

Email: uxin@brunswickgroup.com

Source: Uxin Limited

This article appears in: News Headlines

Referenced Stocks: UXIN










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