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The company's CFO Michael Zeng said in the Q2 earnings release, "Strong growth in the volume of transactions and amount of loans facilitated drove robust top-line growth during the second quarter, as more users were attracted to Uxin's e-commerce platform. We also continued to see operating leverage given the larger scale and improved efficiency. Looking ahead, with the capital raised through our recent IPO, we are well positioned to invest in our network, technology and user experience and cement our position as the leading player in China's used car e-commerce industry."

Reports Q2 revenue $100.61M, consensus $92.51M. Transaction volume of used cars increased to 187,710 units in the Q2, representing year-on-year growth of 28.7%. Gross merchandise volume of used cars reached RMB12,561 million, up 28.0% from RMB9,810 million in the same period last year. Uxin said in its earnings release overnight, "We are pleased to report a strong performance for our first quarter as a public company. Our innovative integrated online and offline business model, superior transaction experience, proprietary technology, and big data insights continued to enhance the value propositions to our users and drive robust demand for our services. As we continue to improve user experience and optimize our operating efficiency, we will implement a series of strategic measures in the second half of 2018. We will continue to invest in cutting-edge technology, such as virtual reality-enabled functions, which we believe will provide our users with more transparency and a better online used car shopping experience. Separately, we historically provided inspection and other complementary services that enabled consumers to sell used cars through our 2B business. Starting in the second half of 2018, we will take an alternative approach that connects these consumers with quality dealers on our platform without us providing inspection and other services directly. Due to this change to our service approach, we will no longer record the corresponding GMV, which has historically made an immaterial contribution to our overall business. Our B2B auction business remains unchanged. The e-commerce market for used cars is still in its infancy in China. We are excited about the tremendous opportunities ahead, and we will continue to optimize our model and provide more value-added services to our users. Strong growth in the volume of transactions and amount of loans facilitated drove robust top-line growth during the second quarter, as more users were attracted to Uxin's e-commerce platform. We also continued to see operating leverage given the larger scale and improved efficiency. Looking ahead, with the capital raised through our recent IPO, we are well positioned to invest in our network, technology and user experience and cement our position as the leading player in China's used car e-commerce industry."