Does This update cause Uxin Limited’s (UXIN) stock to go downhill?

Uxin Limited (NASDAQ: UXIN) share plunged -12.14%  to 1.230 in the pre-market session after unaudited financial results for Company’s second quarter ended September 30, 2020, were released today.

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During the three months ended September 30, 2020, 2C transaction volume (completed with the use of online sales) was 2,653 units higher than the 1,702 units in the prior quarter ended June 30, 2020.

2C GMV1 for the three months ended September 30, 2020, was RMB293 million, compared with RMB2,828 million in the same period last year.

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In the three months ended September 30, 2020, total revenue was RMB76.4 million (US$11.2 million), down from RMB396.6 million a year earlier.

In the three months ended September 30, 2020, 2C revenue was RMB61.3 million (US$9.0 million), compared to RMB334.3 million in the same period in the previous year.

For the quarter ending September 30, 2020, the gross margin was negative 22.4%, and last year’s three-month gross margin was 56.9%.

Continuing operations lost RMB162.6 million last quarter, compared with RMB188.4 million in the same period last year.

For the three months ended September 30, 2010, non-GAAP adjusted loss from continuing operations was RMB179.3 million (US$26.3 million).

Loss from continuing operations was $258.9 million, compared to RMB202.3 million in the same period last year.

In the three months ended September 30, 2020, Non-GAAP adjusted net loss from operating activities was RMB274.6 million (US$40.4 million), compared with RMB203.5 million in the same period last year.

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