Nasdaq Welcomes Uxin, Ltd. (Nasdaq: UXIN) to The Nasdaq Stock Market
NEW YORK, June 27, 2018 (GLOBE NEWSWIRE) -- Uxin, Ltd. (Nasdaq:UXIN), China's largest used car e-commerce platform, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
Uxin, which means quality and trust in Chinese, is the largest used car e-commerce platform by number of transactions and gross merchandise volume, according to iResearch. Founded in 2011, the company's mission is to enable people to buy the car of their choice. Uxin makes it possible to discover, evaluate and transact in used cars throughout China by providing a reliable and one-stop transaction experience. The platform consists of two highly synergistic businesses: Uxin Used Car (2C) and Uxin Auction (2B). Its innovative integrated online and offline platform includes a nationwide network of over 670 service centers across more than 270 cities. Uxin is taking advantage of China's booming used car market: used car transaction volume in China is expected to grow rapidly at a compound annual growth rate of 19% from 12.4 million in 2017 to 29.6 million by 2022, according to iResearch.
"Going public is a substantial milestone in Uxin's history. It marks the beginning of a new and exciting phase for our company. We are thrilled to be here at Nasdaq," said Dai Kun, Uxin's Founder and Chief Executive Officer.
"Through its innovative approach, Uxin has transformed used car e-commerce in China and provides users with a superior experience. We are excited to welcome Uxin to join our family of industry leading companies and look forward to support their continued success," said Nelson Griggs, President, Nasdaq Stock Exchange.
The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Information about the company is provided by the company or comes from the company's public filings and is not independently verified by Nasdaq. Neither Nasdaq nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: http://business.nasdaq.com
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