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UXIN

Uxin

$2.51

-0.015 (-0.59%)

09:48
09/30/19
09/30
09:48
09/30/19
09:48

Uxin to divest loan facilitation related business in cash and stock deal

Uxin Limited announced it entered into definitive agreements with Golden Pacer, a financial technology platform in China, to divest its loan facilitation related business. Previously on July 12, the company announced that it had entered into a binding term sheet with Golden Pacer relating to the divestiture. Pursuant to the definitive agreements, the Company will divest its entire 2C intra-regional business to Golden Pacer, and cease to provide guarantee services in connection with its 2C cross-regional business going forward, and thus divest the corresponding assets and liabilities. In return, the company will receive an aggregate of $100M cash from Golden Pacer and certain preferred shares of Golden Pacer representing approximately 18.4% of the share capital of Golden Pacer on a fully diluted basis. The company will have the right to appoint one director on Golden Pacer's board of directors. The transactions contemplated under the definitive agreements are subject to certain closing conditions, and are currently expected to close by the end of 2019.The company's board of directors, acting upon the unanimous recommendation of its Audit Committee consisting of independent and disinterested directors, approved the definitive agreements and the transactions contemplated thereunder. The Audit Committee reviewed and considered the terms of the definitive agreements and the transactions with the assistance of its financial and legal advisors.

UXIN Uxin
$2.51

-0.015 (-0.59%)

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.
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.
04/24/19
04/24/19
NO CHANGE

Uxin mentioned cautiously again by J Capital
J Capital Research has published a follow-up report on its short call on Uxin to respond to the company's response to the firm's April 16 short report. In the follow-up, J Capital's Anne Stevenson-Yang writes in part: "Uxin's response on the number of cities covered - it says 900 - contradicts what Investor Relations told us just one week before the report." Reference Link
09/23/19
JPMS
09/23/19
NO CHANGE
Target $6
JPMS
Overweight
Uxin results significantly impacted by loan unit spinoff, says JPMorgan
Uxin's Q2 results this morning were significantly affected by its spinoff of loan facilitation business, a "high financial risk business that enhanced near-term monetization," JPMorgan analyst Alex Yao tells investors in a research note. He believes the transition reduces Uxin's financial risk exposure and should increase business scalability in the long run. However, Yao points out that the transition could delay the company's path to profitability by four-to-six quarters. As such, he expects shares of Uxin to be under pressure in the near-term. Nonetheless, the analyst keeps an Overweight rating on Uxin shares with a $6 price target. The stock in morning trading is down 9% to $2.97.

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