Uxin Limited (NASDAQ: UXIN), China's leading used car retailer, saw its stock plummet by 9.67% in the pre-market trading session on Monday, despite reporting strong second-quarter results and announcing a change in its fiscal year end.

The company reported a 25.7% quarter-over-quarter increase and an 81.4% year-over-year rise in transaction volume for the three months ended September 30, 2024. Retail transaction volume surged 46.8% from the previous quarter and a staggering 162.6% compared to the same period last year. Revenue also climbed 39.6% year-over-year to $70.85 million.

However, Uxin still posted a non-GAAP loss of $1.3 million for the quarter, and the company's board of directors approved a change in the fiscal year end from March 31 to December 31, effective immediately. The move is intended to streamline financial reporting with global standards and better align operational planning with market trends and customer demands.