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UXIN

Uxin

$2.00

-1.06 (-34.64%)

05:14
04/17/19
04/17
05:14
04/17/19
05:14

Uxin sees 'malicious interpretations of events' in J Capital Research report

Uxin issued a statement in response to yesterday's trading activity. Uxin said, "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." Shares of Uxin closed yesterday down 36%, or $1.10, to $1.95. J Capital Research, as reported yesterday morning by The Fly, claimed the company, among other things, exaggerates the volume of auto sales its processes by as much as 40% and has financial statements that "show a staggering level of debt that puts the company at risk of collapse."

UXIN Uxin
$2.00

-1.06 (-34.64%)

04/16/19
04/16/19
NO CHANGE

Uxin exaggerates auto volumes by as much as 40%, says J Capital
J Capital Research analyst Anne Stevenson-Yang believes Uxin exaggerates the volume of auto sales its processes by as much as 40%. After speaking to dealers, former executives, and salespeople from competing companies, the analyst believes Uxin is "basically a Craigslist of autos," listing cars that are being offered on multiple websites, for free. Further, financial statements for Uxin's operating companies in China "show a staggering level of debt that puts the company at risk of collapse," Stevenson-Yang tells investors in a research note. She admits to not knowing how to ascribe a valuation to the stock since the company "is so dishonest." Investors should "race to the exits," says Stevenson-Yang. Uxin in early trading is up 1c to $3.06.
03/14/19
JPMS
03/14/19
NO CHANGE
Target $8
JPMS
Overweight
JPMorgan sees over 70% upside in Uxin, ups price target to $8
JPMorgan analyst Nick Lai raised his price target for Uxin to $8 from $7 following the company's better than expected Q4 results. The stock closed yesterday down 2c to $4.60. The analyst increased his revenue forecasts for 2019 and 2020 and believes Uxin will turn to profit in Q4 of 2019. For 2019, Lai forecasts intercity transaction will quadruple while believing same city should also surge by greater than 30%. He keeps an Overweight rating on Uxin shares.
03/12/19
FBCO
03/12/19
INITIATION
Target $7.7
FBCO
Outperform
Uxin initiated with an Outperform at Credit Suisse
Credit Suisse initiated Uxin with an Outperform and $7.70 price target.
01/15/19
JPMS
01/15/19
NO CHANGE
Target $7
JPMS
Overweight
JPMorgan reiterates call for 100% upside in Uxin shares
In a research note titled "A great start in 2019; Reiterate 100% upside," JPMorgan analyst Nick Lai says Uxin yesterday reported "very strong" December year-over-year transaction growth of 44%. Contrary to a "miserable new car market" in China, the used car market has performed well, up 13% last year and is expected to continue its double-digit growth rate in 2019 and 2020, Lai tells investors in a research note. He calls Uxin a leader in China's e-commerce used car market. The analyst still sees 100% upside potential in Uxin shares and keeps an Overweight rating on the name with a $7 price target.

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NDEKY

Nitto Denko

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CURO

Curo Group

$10.96

0.16 (1.48%)

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AON

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