Uxin Ltd, a leading e-commerce platform for buying and selling used cars in China, saw its stock soar by 9.30% in pre-market trading on Tuesday, October 16. The surge came after the company announced a strategic partnership with the Wuhan City Economic & Technological Development Zone.
As per the partnership agreement, Uxin's subsidiary will contribute RMB 66.7 million (approximately $9.4 million) to a joint venture, while its partner, Wuhan Junshan, will contribute RMB 33.3 million (approximately $4.7 million). The joint venture aims to promote the automotive aftermarket industry in Hubei province, where Wuhan is the capital city.
This strategic move is expected to strengthen Uxin's presence in the rapidly growing used car market in Hubei and potentially boost its revenue streams. By leveraging local resources and expertise, the joint venture will likely enable Uxin to better cater to the needs of customers in the region and capitalize on the growing demand for used cars and related services.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。