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imToken Expands Stablecoin Access with Support for Stable Blockchain

SINGAPORE, Dec. 18, 2025 /PRNewswire/ — imToken, a leading global Web3 self-custodial wallet, has announced support for Stable, a Layer 1 blockchain that uses USDT as its native transaction token. The collaboration aims to remove key frictions users face when using stablecoins, making digital payments faster and easier for everyone.

Since 2016, imToken has been at the forefront of stablecoin adoption. As one of the first Ethereum wallets, it has grown with both the Ethereum and Tron ecosystems — today, a meaningful share of USDT transfers on Tron originates from imToken users.

Making Stablecoins Truly Usable

Stablecoins are now a key gateway for mainstream users entering Web3. imToken’s goal goes beyond storing and transferring assets — it focuses on making stablecoins usable in everyday life.

In 2024, imToken launched the imToken Card, allowing users to spend stablecoins directly online and offline. This connects blockchain assets with real-world payments, bringing digital finance into daily experience.

One major challenge for stablecoin users has been paying separate transaction fees (also known as gas fees) in native tokens. Through Stable’s integration, imToken users can now use USDT itself to cover these costs, eliminating the need to manage multiple assets. Stable’s Account Abstraction (AA) framework also supports seamless, low-cost stablecoin transfers, promoting the adoption of stablecoins within the broader financial ecosystem. “Stablecoin adoption depends on real usability,” said Ben He, Founder and CEO of imToken. “We must move beyond old classifications and focus on what users truly care about: Is it safe, and where can I use it? Our goal is to make stablecoins practical — from enabling real-world payments to removing everyday frictions.”

Brian Mehler, CEO of Stable, added: “We are excited to partner with imToken, a renowned name in the decentralized wallet space. By combining Stable’s focus on fast and seamless stablecoin transactions with imToken’s secure and user-centric wallet infrastructure, we aim to make it easier for people everywhere to manage and move digital assets with confidence.”

Building the Future of Digital Payments

imToken sees stablecoins as the foundation of global digital payments and a key driver of financial inclusion. The integration with Stable expands imToken’s multi-chain infrastructure, especially in regions where stablecoins already power remittances, savings, and cross-border transactions.

By supporting USDT-based transaction fees (aka gas fees), imToken advances its vision of frictionless, accessible Web3 finance, connecting digital assets with the real economy and laying the groundwork for next-generation stablecoin applications.

About imToken

imToken is a reliable, intuitive wallet used by millions across 150+ countries. It supports major networks including Bitcoin and Ethereum, integrates hardware wallet support, token swap, and a DApp browser, and provides secure non-custodial services.

About Stable

Stable is a Layer 1 blockchain using USDT as its native transaction token to enable fast, low-cost stablecoin payments. Built for global transfers and remittances, Stable removes payment friction and provides a user-friendly foundation for next-generation financial apps.

MOCA Singapore Presents 3001 KM: Eight Years Between Us, in Partnership with PureView Art Foundation

A rare exhibition tracing an eight-year cross-cultural art journey between rural Yunnan and Singapore, showing how long-term youth art education can transform confidence, community and connection.


SINGAPORE – Media OutReach Newswire – 18 December 2025 – MOCA Singapore presents 3001 KM: Eight Years Between Us, in partnership with PureView Art Foundation, one of the region’s few long-term cross-cultural youth art practices. The exhibition brings together drawings, letters, photographs and archival materials documenting an eight-year journey between rural Yunnan and Singapore, showing how sustained art education can transform confidence, community and connection.

The title references the straight-line distance between Dagaji Village in Yunnan, China, and Singapore. It also reflects the time, trust and relationships nurtured through PureView’s long-term engagement with children in rural and underserved communities.

“PureView does not aim to change every child’s destiny. Instead, we hope to open a small but real window at a moment in their growth so they know that someone in the world sees them, listens to them and believes in them,” said Dr. Jie Li-Elbrächter, Founder and Curator of PureView Art Foundation.

Long-term engagement across five rural regions

The project began in 2018 when PureView volunteers first arrived in Dagaji Village, a rural community where children shyly offered their earliest drawings. This moment shaped the initiative’s commitment to long-term engagement rather than short-term projects.

Over eight years, PureView’s team worked with approximately 15 to 20 children each year through a one-to-one exchange model with youth volunteers. To date, the initiative has involved around 400 youth and adult volunteers across five rural regions, adapting formats including online exchanges during the pandemic to maintain continuity.

The exhibition features hundreds of artworks and archival materials, including artworks created by participating children.

It also documents visible change within Dagaji Village, where water systems have been installed, new shops have opened and children from the earliest years of the project have reached new milestones, including university enrollment. Younger siblings now continue their journey with the project, taking up the brush in the same classrooms where their older siblings once began.

A timely exhibition for Singapore

This exhibition arrives at a moment when Singapore is placing greater focus on youth development, community arts and cross-cultural understanding. As regional inequalities widen and post-pandemic recovery continues, initiatives like PureView highlight the role of long-term arts engagement in building empathy, resilience and connection across diverse communities.

A social practice shaped by continuity, not funding cycles

While often compared to art NGOs, PureView operates as a long-term cultural and educational practice rooted in field research and repeat return visits. PureView is grounded in Dr. Jie Li-Elbrächter’s long-term research in art anthropology and rural development. The work prioritises children’s agency, ethical observation and relationships built over many years rather than seasonal programming.

PureView was co-initiated by Dr. Jie Li, an art anthropologist specialising in rural development, together with three children from the project, Letian, Luan and Luna. The children have grown alongside the initiative and now take on significant roles, helping shape the project’s direction and ensuring that the stories of participating communities remain their own.

Opening programme and community collaboration

The exhibition opening featured guided tours led by youth volunteers in both Chinese and English, reflecting the project’s practice of “children drawing children”. A Peking Opera presentation introduced by volunteers in earlier field visits was also part of the programme, demonstrating how cultural traditions travel and evolve through education.

ANTA Group supported the initiative by providing apparel for volunteers and children over two consecutive years. Through repeated workshops and field visits, the apparel brand supported a sense of equality and belonging for children.

This support fosters a shared identity and stable experience during workshops and field activities. ANTA’s involvement reflects its belief that physical education and aesthetic education work together to strengthen confidence, resilience and self-expression.

Introducing the International Youth Art Biennale

At the opening, PureView announced the launch of the International Youth Art Biennale in 2026. The biennale will begin with participation from China, Southeast Asia and selected international partners, focusing on children and youth aged 8 to 18.

The biennale will emphasise long-term engagement, care and continuity rather than competition. Schools and youth groups will be able to join through open calls, curated partnerships and online collaborative programmes designed for accessibility to underserved communities.

Scaling impact while maintaining depth

From 2026 onward, PureView will adopt a dual-track model that continues in-depth field visits while offering expanded online courses. This model is expected to reach approximately 3000 to 5000 rural children each year while preserving the ethics and depth of the project’s long-term practice.

The exhibition is a quiet reminder that when time, care and creativity travel together, even the smallest gestures can illuminate an entire community.

Exhibition and programme details

3001 KM: Eight Years Between Us
Location: MOCA Singapore
14 December 2025 to 11 January 2026
Daily 10:00 to 18:30
Admission ticketed
Venue: 39 Keppel Road, #01-01, Singapore 089065

Extended Programme: Art as Care | Panel Discussion
Location: XMuseum
12 January to 31 January 2026
Daily 11:00 to 20:00
Free admission
Includes a panel discussion on arts support for vulnerable communities
Venue: Kitchener Complex Level 3, French Road 200809

For more information, visit www.pureviewartfoundation.org
Hashtag: #MOCASingapore #PureViewArtFoundation #YouthArt #3001KM #ArtExhibition #ArtAsCare

The issuer is solely responsible for the content of this announcement.

About PureView Art Foundation

PureView Art Foundation is a long-term cultural and educational initiative focused on youth art practice, rural development and cross-cultural exchange across Asia. Founded by art anthropologist Dr. Jie Li-Elbrächter together with three children who grew up with the project, PureView operates as a sustained social practice rather than a traditional NGO.

Its work centres on continuity, ethical observation and repeated return visits to rural communities, allowing children to retain ownership of their stories while building confidence through artistic expression. Over the past eight years, PureView has worked with hundreds of volunteers and children across multiple regions, combining field research, community engagement and arts-based education to support both individual growth and broader social connection.

Trump Expands US Travel Ban, Laos Among New Seven Countries Fully Restricted

This photo is used for representational purpose only.

Laos is now among seven countries newly subjected to a full U.S. travel ban, following an announcement by President Donald Trump expanding entry restrictions. 

The announcement, made on 16 December, a significant escalation from earlier December, when Laos was affected by a temporary U.S. immigration processing freeze that delayed green card, citizenship, and asylum applications. 

Under the new order, Laos has moved from being under “partial restrictions” to “full restrictions.” The U.S. cited Laos’ high overstay rate and its previous lack of cooperation in repatriating its citizens as reasons for the upgrade to a full ban. 

Africa’s Sierra Leone was also moved from partial restrictions to a full travel ban.

In addition to Laos and Sierra Leone, the full ban now applies to Syria, Burkina Faso, Mali, Niger, and South Sudan. Palestinian Authority passport holders are also restricted from entering the United States, as part of measures described by Washington as necessary for national security.

The new announcement will take effect in January 2026.

With this latest expansion, the total number of countries under a full U.S. travel ban rises to 20. Earlier in June, President Trump had signed a travel ban targeting 12 countries, including Afghanistan, Myanmar, Chad, the Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen.

Trump has long made a hardline stance on immigration a signature policy, frequently emphasizing deportations and limiting entry for certain nationalities. The White House proclamation stated that the bans target foreigners who “intend to threaten” Americans or who might “undermine or destabilize U.S. culture, government, institutions, or founding principles.”

Partial Restrictions

In addition to full bans, partial travel restrictions have been imposed on citizens of other African nations, including Nigeria, Ivory Coast, Senegal, Angola, Benin, Gabon, The Gambia, Malawi, Mauritania, Tanzania, Zambia, and Zimbabwe, as well as Caribbean nations such as Antigua and Barbuda and Dominica, and the Polynesian country of Tonga. 

With these new additions, 20 countries are now under partial restrictions, up from five previously, while Laos and Sierra Leone were moved to full bans.

Altogether, nearly 40 countries now face U.S. entry restrictions based solely on nationality, with tightened rules affecting even routine travel from Western nations.

Trip.com Group Connects Content, Commerce, and Creators Through New “Trip Community” Ecosystem

SINGAPORE, Dec. 18, 2025 /PRNewswire/ — As travellers increasingly look to content creators and communities for travel inspiration, Trip.com Group has unveiled Trip Community, a fully integrated travel-content ecosystem that brings together the Group’s content and creator innovations to power seamless travel planning.

The initiative builds on momentum from a series of creator engagements held throughout the year, including gatherings in Sanya and Istanbul, where leading creators worldwide were invited to explore new product capabilities and contribute to the rapid growth of the Group’s global creator network.

Trip.Pal Connect event in Istanbul
Trip.Pal Connect event in Istanbul

A New Seamless Travel Ecosystem

Trip Community brings together the Group’s major content and planning innovations, such as Trip.Moments, Influencer 4 Biz, Trip.Planner, Trip.Pulse, Trip.Events, and Local Guides.

  • Trip.Moments: A user-generated platform that empowers active creators and facilitates the sharing of daily posts, offering authentic insights and travel inspiration.
  • Influencer 4 Biz: A collaboration hub that links verified creators with destinations, hotels, and travel service providers.
  • Trip.Planner: A revolutionary one-stop travel planning hub, powered by AI to transform complex itineraries into effortless, personalised journeys.
  • Trip.Pulse: A discovery feature that helps users identify trending destinations and travel themes to guide decision-making.
  • Trip.Events: A global event-aggregation tool that curates trending events and upcoming activities worldwide to inspire travel.
  • Local Guides: A local travel–guide tool that combines extensive authentic user insights with expert verification to deliver accurate travel guides and insider tips to avoid pitfalls.

This unified system positions content as a primary driver of travel discovery and enables destinations, brands, and creators to collaborate in more meaningful and commercially impactful ways.

“At Trip Community, we see creators not just as partners but as the essential source of our ecosystem. Valuing them means building the best possible environment for their creativity to flourish,” said Mr. Schubert Lou, CEO of Trip Community, speaking at a recent creator event hosted by the Group in Istanbul, Türkiye.

Mr. Schubert Lou, CEO of Trip Community
Mr. Schubert Lou, CEO of Trip Community

Trip.Moments: The Heart of Creator Engagement

Built around authentic travel sharing and community-driven content, Trip.Moments has grown into Trip Community’s central hub for creator engagement since its launch in 2019.

As of October 2025, Trip.Moments has attracted over 2.5 million users globally. Over 12,000 Trip.Pals — verified creators with off-platform social accounts and substantial followings — contribute regularly on the platform. Trip.Moments now reaches travellers in more than 170 countries, with creator participation rising throughout 2025 and average monthly activity increasing by over 45%.

Influencer 4 Biz: Connecting Creators and Brands

Another core pillar of Trip Community is Influencer 4 Biz, the Group’s collaboration hub that links verified creators with destinations, hotels, and travel service providers. While Trip.Moments nurtures community and content sharing, Influencer 4 Biz functions as a dedicated matchmaking platform that aligns business needs with the right creators.

In the past year, commercial matches between creators and merchants grew by nearly 80% month-on-month. Today, Influencer 4 Biz connects over 500,000 travel brands and suppliers with more than 10,000 qualified creators, forming one of the largest partnership networks in the global travel industry.

A recent highlight was the Global KOL China Exploration Program, which brought together creators from Argentina, South Korea, Japan, Thailand, Singapore, and Kazakhstan. The program enabled collaboration with over 50 merchants, allowing creators to save over US$30,000 in travel expenses. It demonstrated how the platform supports creators, enhances partner visibility, and achieves tangible commercial results.

Empowering Creators Through Monetization and Support

To help creators expand their reach, Trip.com Group has established a CNY 100 million (US$~14 million) incentive pool. The fund helps creators grow by offering traffic-based rewards, product sales commissions via Trip Coins, and payouts for brand collaboration. Over the past year, the total collaboration value across Trip.com platforms has doubled, underscoring the growing commercial impact of creator-driven content.

These incentive measures currently serve major markets, including Japan, South Korea, Thailand, Singapore, Malaysia, Indonesia, and Hong Kong SAR. They will expand to Europe in 2026, beginning with Italy, France, and Spain, and are available on the Global English site.

A Vision of Connection and Shared Inspiration

Trip Community ensures that every stage of the travel journey is seamless, extending well beyond creator inspiration and community content. Looking ahead, Trip.com Group aims to deepen the role of content in connecting travellers around the world.

“Our vision is to build more than a service — it’s a community that connects people through powerful content, driving inspiration and genuine emotional resonance,” Mr. Lou added.

Trip Community marks a major milestone in Trip.com Group’s long-term strategy to build a global, creator-powered travel ecosystem that supports innovation, fosters community, and delivers value across the entire travel journey.

About Trip.com Group

Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission “to pursue the perfect trip for a better world”. Find out more about Trip.com Group here. Follow us on Twitter, Facebook, LinkedIn, and YouTube.

Ampotech Signs MOU with PEZA to Create Sustainable Ecozones

MANILA, Philippines, Dec. 18, 2025 /PRNewswire/ — The Philippine Economic Zone Authority (PEZA) and Singapore-based energy technology company Ampotech have signed a memorandum of understanding to deploy intelligent energy and carbon management solutions in PEZA industrial parks and facilities. The landmark project, which remains under discussion, will demonstrate the real-world impact of unifying and optimizing building energy management systems, solar and energy storage, and asset tracking to provide energy savings and traceability for carbon emissions for PEZA and the companies situated in their special economic zones.

From left to right: Eric San Pedro (Managing Director, Ampotech Philippines), William Temple (CEO, Ampotech), Tereso O. Panga (Director General, PEZA), Anidelle Joy M. Alguso (Deputy Director General for Policy & Planning, PEZA)
From left to right: Eric San Pedro (Managing Director, Ampotech Philippines), William Temple (CEO, Ampotech), Tereso O. Panga (Director General, PEZA), Anidelle Joy M. Alguso (Deputy Director General for Policy & Planning, PEZA)

PEZA, under its forward-looking leader, Director General Tereso Panga, is responsible for the planning, development and operation of ecozones, industrial estates, export processing zones, and free trade zones in the Philippines. Sustainability is a key aspect of PEZA’s activities, and the organization has initiatives underway, including large-scale rooftop solar programs and energy decarbonization efforts.

Director General Panga said, “PEZA has taken significant strides in embedding sustainability and ESG principles into its operations. As such, we have taken initiatives towards future proofing, evolving, embracing, empowering, and modernizing our ecozones — from renewable energy integration and waste-to-resource programs to sustainable operations reporting and eco-industrial park certifications.”

For Ampotech, the project marks its entry into the Philippines following a year of expansion that saw the opening of offices in Malaysia, Hong Kong SAR, and Indonesia. The company will build on its track record of deploying AI and Internet of Things (IoT) based energy solutions in hundreds of commercial and industrial facilities and solar assets to provide the integrated demonstration project for PEZA.

“We are thrilled to collaborate with PEZA on this initiative. Their vision and the scale of the Ecozones provides a unique opportunity to demonstrate the full suite of capabilities in our AmpoCloud platform and create a meaningful impact that can serve as a template for other economic zones and industrial parks across Southeast Asia” said Ampotech CEO and Co-Founder William Temple.

Scoping activities will be conducted in coordination with PEZA to develop the execution framework across multiple ecozones and define the next steps. The project is expected to commence in the first quarter of 2026. This engagement supports PEZA’s broader efforts to introduce efficient, intelligent, next-generation infrastructure across its ecozones.

Vantage Markets recognised for real-time threat intelligence collaboration with Trend Micro

Innovation Partnership Award highlights deep collaboration, real-time intelligence sharing, and advanced security deployment across one of Australia’s leading financial trading platforms


HONG KONG SAR – Media OutReach Newswire – 18 December 2025 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced that Vantage Markets has been honoured with its Innovation Partnership Award, recognising the organisation’s pioneering approach to strengthening cyber resilience and its strategic collaboration with Trend Micro.

Vantage Markets’ group of companies operates across more than 30 global offices, while Vantage Markets is recognised as one of the world’s leading multi-asset trading platforms. Its focus on reliability, speed, and user experience has made it the number one trading platform in Australia and number two globally. Facing rapid growth and an increasingly complex global threat landscape, the organisation has invested heavily in establishing an integrated, intelligence-driven cybersecurity foundation.

Since 2021, Vantage Markets and Trend Micro have built a close partnership. Through this collaboration, Vantage Markets has scaled its security capability into a global function, leveraging real-time threat intelligence and unified visibility across critical environments.

Eric Cheng, Head of Cyber and Information Security, Vantage Markets: “Security underpins every aspect of the trading experience we deliver. Working with Trend Micro has allowed us to mature our security operations far faster than we could have alone. The ability to correlate cloud, workload, and identity telemetry in one place has fundamentally changed how we detect and respond to threats across our global footprint. This recognition reflects our commitment to continuously raising the bar for resilience, not just for our own organisation, but for the broader financial services ecosystem.”

Vantage Markets has deployed a comprehensive suite of Trend Micro solutions within the Vision One AI-Powered Enterprise Cybersecurity Platform, including, Trend Vision One™ Cyber Risk Exposure Management (CREM), Trend Vision One™ XDR for Endpoints, Trend Vision One™ Endpoint Security, Trend Vision One™ Cloud Security and Trend Service One™. This integrated approach has delivered enhanced visibility across cloud, users, and applications; faster detection and response; and a consistent security experience across its rapidly expanding global presence.

Complementing this technology foundation, the Vantage security team holds globally recognised certifications, including CISSP, CCSP, CISM, CRISC, CRT, OSCP, CDPSE, and CISA, and has extensive experience in bank-grade security architecture and global red-team operations. This expertise ensures user accounts and assets are safeguarded by highly qualified professionals with proven capabilities.

Innovation driven by insight and shared intelligence

A key factor recognised by the award is Vantage Markets’ continuous contribution to the broader cybersecurity community. The organisation regularly shares intelligence on emerging threat actors, participates in private product previews, and provides feedback that directly informs Trend Micro’s platform evolution.

This collaborative model has strengthened both organisations’ capabilities, enabling Trend Micro to refine threat detection and response technologies while empowering Vantage Markets with deeper situational awareness and real-time threat context.

Strengthening cyber resilience across financial services

Financial institutions globally continue to face increasingly sophisticated and fast-moving cyber threats. For Vantage Markets, the ability to unify telemetry, automate risk identification, and accelerate investigation workflows has been central to its security transformation.

The Trend Vision One™ platform has played a foundational role in delivering these outcomes, enabling more integrated protection across cloud infrastructure, workloads, identity, and user activity.

Matthew Chan, Business Director, Hong Kong and Macau, Trend Micro: “Vantage Markets is a prime example of what’s possible when organisations treat cybersecurity as a strategic enabler. Their pace of adoption, willingness to collaborate, and contribution to threat intelligence have directly influenced how we evolve our platform. By consolidating visibility and automating high-value security workflows, they’ve built a resilient and scalable model that sets a benchmark for financial services organisations across the region. We’re proud to support their journey and excited for what comes next.”

Looking ahead

The recognition marks a significant milestone in Trend Micro and Vantage Markets’ ongoing partnership, reinforcing their shared commitment to improving cybersecurity readiness across the financial services sector.

As Vantage Markets continues to expand its global presence, the organisation is committed to strengthening financial-grade security for the long term. It will further leverage Trend Micro’s AI-powered platform to advance its security vision, enhancing compliance, fortifying cloud protection, and ensuring safer experiences for clients worldwide.

About Vantage

Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 15 years of market experience, Vantage transcends the role of broker, providing a reliable trading platform, an award-winning mobile trading app, and a user-friendly trading platform that provide clients access to trading opportunities.

trade smarter @vantage

RISK WARNING: CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Ensure you understand the risks before trading.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice, an offer, or solicitation of any financial products or services. The content is not intended for residents of any jurisdiction where such distribution or use would be contrary to local law or regulation. Readers are advised to seek independent professional advice before making any investment or financial decisions. Any reliance you place on the information presented is strictly at your own risk.

Hashtag: #trendmicro #trendvisionone #visionone #cybersecurity #vantagemarkets




The issuer is solely responsible for the content of this announcement.

About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s AI-powered cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, Trend’s platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 70 countries, Trend Micro enables organizations to simplify and secure their connected world. .

ESG Achievement Awards 2024/2025 Winners Announced

Celebrating 26 Visionary Leadership in Sustainability

HONG KONG SAR – Media OutReach Newswire – 18 December 2025 – The Institute of ESG & Benchmark (IESGB) hosted the ESG Achievement Awards 2024/2025 Presentation Ceremony and Luncheon, where it unveiled this year’s winners. Co-organised by the Institute of Financial Technologists of Asia (IFTA) and continuously supported by ESG Data Sponsor Hang Seng Indexes Limited (HSIL), this year’s Awards celebrated the exceptional contributions of 26 organisations and individuals across nine categories, recognising their outstanding achievements in sustainable development, social responsibility, and corporate governance.

Celebrating its fifth edition, the ESG Achievement Awards is one of the most recognized platforms in Hong Kong for organizations of all types—from listed and private companies to NGOs and non-profits organizations —to showcase their commitment to sustainability. This year’s awards continued to draw keen participation from a diverse range of sectors and sizes, reflecting growing engagement and leadership in ESG practices. This year’s ESG Achievement Awards, under the theme “Future-Forward Visionaries: Technology Driving Sustainable Transformation,” spotlight how technology is revolutionizing corporate responsibility. As industry leaders increasingly focus on the positive impact of ESG on financial performance and reputation, the Awards will showcase how innovative tools are central to building sustainable value. We honor those organizations that apply technology with curiosity and strategic vision to meet environmental and social objectives, guided by a deep understanding of their stakeholders.

Mr. Arthur Lee Hok-yin, JP, Commissioner for Climate Change highlighted in his speech technology’s transformative role across sectors in carbon reduction. Property developers use AI-powered systems to optimize energy use in buildings. Green fintech pioneers use blockchain for supply chain transparency and AI to direct capital to genuinely sustainable projects. Logistics companies use smart platforms and predictive analytics to eliminate emissions. He said, “We are sending a message to the world that Hong Kong is not just a financial gateway, but a green gateway—a hub where technology and sustainability converge to build a future that is prosperous, inclusive, and resilient.”

Mr Paul Pong, Co-founder of IESGB said, “This year, we celebrate under the theme: “Future-Forward Visionaries: Technology Driving Sustainable Transformation.” We’re not just here to honour excellent ESG practices, but to spotlight the powerful force behind them: technology. From AI to data analytics, we’re seeing technology accelerate ESG impact across every industry, turning ambition into tangible change.”

“IESGB is dedicated to upholding ESG standards and nurturing the next generation of ESG professionals.” Mr Wilson Kwok, Co-founder of IESGB commented, “We invite all awardees to collaborate with us in building a robust ESG ecosystem. Together, we can share insights, innovate solutions, and drive meaningful change in our communities and industries.”

Mr Vincent Pang, Chairman of the Awards’ Jury Panel mentioned, “Our group of jurors grew this year, and we are so appreciative of our returning judges, as well as those who joined us for the first time. This year, we reviewed innovative case studies that leverage cutting-edge technology and strategic ingenuity to solve complex environmental and social challenges. These projects are a masterclass in leadership, proving that integrating sustainability is the definitive blueprint for building resilient, valuable, and conscientious organizations.”

This year, we are proud to confer two honorary Awards. The Aberdeen Kai-fong Welfare Association Limited (AKA) is recognised as the Honorary ESG Pioneering Organisation, while Mr. Ricky Wong, Vice Chairman and Managing Director of Wheelock Properties Limited, is bestowed with the Honorary ESG Iconic Star. IESGB selected AKA for its enduring role as a cornerstone of the community, dedicated to enriching lives through comprehensive support in housing, healthcare, and education. This award celebrates its profound social impact and its commitment to sustainable community initiatives. Meanwhile, Mr. Wong has demonstrated a profound commitment to social mobility and education, consistently leveraging his influence to create opportunities for the younger generation. His advocacy extends beyond corporate initiatives, as he actively engages in mentorship and shares his own professional journey to inspire youth to discover their unique paths and potential.

IESGB drives innovation in ESG commitment and delivery. Our annual Achievement Awards connect sector leaders to pioneer new standards, share best practices, and achieve measurable impact. We welcome greater engagement in the coming year and will continue to partner with companies and NGOs to advance ESG values across the community.

Results of the ESG Achievement Awards 2024/2025:
(Sorted alphabetically by organization or individual)

Honorary ESG Pioneering Organisation

Aberdeen Kai-fong Welfare Association Limited

Honorary ESG Iconic Star

Mr Ricky Wong
Wheelock

Outstanding Sustainable Dividend Awards

Far East Consortium International Limited

KLN Logistics Group Limited

Sino Land Company Limited

Techtronic Industries Company Limited

ESG Benchmark Awards

Henderson Land Development Company Limited

Diamond

Sino Land Company Limited

Diamond

The Hong Kong and China Gas Company Limited

Diamond

Kerry Properties Limited

Gold

China Overseas Land & Investment Ltd.

Silver

KLN Logistics Group Limited

Silver

Kuaishou Technology

Silver

Techtronic Industries Company Limited

Silver

ESG Benchmark Awards

Outstanding Performance in Environmental Responsibility

The Hong Kong and China Gas Company Limited

Outstanding Performance in Social Responsibility

Sino Land Company Limited

Outstanding Performance in ESG Governance

Henderson Land Development Company Limited

Outstanding ESG Awards (Listed Company)

China Overseas Grand Oceans Group Co., Ltd.

Diamond

Henderson Land Development Company Limited

Diamond

Far East Consortium International Limited

Platinum

KE Holdings Inc.

Platinum

Tam Jai International Co. Limited

Platinum

North Asia Strategic Holdings Limited

Gold

Qilu Expressway Company Limited

Gold

Outstanding ESG Awards (Non-Listed Company)

Chinachem Group

Diamond

K. Wah Construction Materials

Diamond

CTF Life

Platinum

Crown Gas Stoves (Holdings) Company Limited

Gold

Outstanding ESG Awards (NGO/NPO)

Ocean Park Corporation

Diamond

Tung Wah Group of Hospitals

Diamond

Chinese YMCA of Hong Kong

Platinum

The Harbour School

Platinum

Outstanding ESG Product and Service Awards

Sun Life Asset Management (HK) Limited

Distinction

Outstanding Fund Manager’s Choice Awards

Henderson Land Development Company Limited

Distinction

Best Sustainable Vision Awards

Chinachem Group

Distinction

Chinese YMCA of Hong Kong

Distinction

Far East Consortium International Limited

Distinction

Sino Land Company Limited

Distinction

ESG Innovative Project Awards

Henderson Land Development Company Limited

Distinction

Jiangmen Laboratory of Carbon Science and Technology

Distinction

Sino Land Company Limited

Distinction

Tung Wah Group of Hospitals

Distinction

ESG Talent Development Awards

Tung Wah Group of Hospitals

Distinction

ESG Elite Awards

Mr. Rafi Cristobal
The Harbour School

Distinction

For more information on the ESG Achievement Awards 2024/2025, please visit www.iesgbawards.org.

Hashtag: #IESGB

The issuer is solely responsible for the content of this announcement.

About IESGB

Institute of ESG & Benchmark (IESGB) is a non-profit organization established in 2020. Its endeavors are to elevate stakeholders’ awareness and knowledge towards Environmental, Social and Governance (ESG) in all industry sectors. By organising Environment, Social and Governance relevant training, events and providing Certified ESG courses, IESGB hopes to lead and strengthen the ESG standards and development across Hong Kong.

Uxin Reports Unaudited Financial Results for the Quarter Ended September 30, 2025 and Announces Entry into Definitive Agreement for Financing

BEIJING, Dec. 18, 2025 /PRNewswire/ — Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), China’s leading used car retailer, today announced its unaudited financial results for the quarter ended September 30, 2025.

Highlights for the Quarter Ended September 30, 2025

  • Transaction volume was 15,904 units for the three months ended September 30, 2025, an increase of 37.0% from 11,606 units in the last quarter and an increase of 125.7% from 7,046 units in the same period last year.
  • Retail transaction volume was 14,020 units for the three months ended September 30, 2025, an increase of 35.0% from 10,385 units in the last quarter and an increase of 133.5% from 6,005 units in the same period last year.
  • Total revenues were RMB879.3 million (US$123.5 million) for the three months ended September 30, 2025, an increase of 33.6% from RMB658.3 million in the last quarter and an increase of 76.8% from RMB497.2 million in the same period last year.
  • Gross margin was 7.5% for the three months ended September 30, 2025, compared with 5.2% in the last quarter and 7.0% in the same period last year.
  • Loss from operations was RMB36.5 million (US$5.1 million) for the three months ended September 30, 2025, compared with RMB43.1 million in the last quarter and RMB38.6 million in the same period last year.
  • Non-GAAP adjusted EBITDA[1] was a loss of RMB5.3 million (US$0.7 million) for the three months ended September 30, 2025, compared with a loss of RMB16.5 million in the last quarter and a loss of RMB9.2 million in the same period last year.

[1] This is a non-GAAP measure. The Company believes that the non-GAAP measures help investors and users of our financial information understand the effect of adjusting items on our selected reported results and provide alternate measurements of its performance, both in the current period and across periods. See “Use of Non-GAAP Financial Measures” and “Unaudited Reconciliations of GAAP And Non-GAAP Results” contained in this press release for a reconciliation and additional information on non-GAAP measures.

Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin, commented, “In the third quarter of 2025, we delivered a retail transaction volume of 14,020 units, up 134% year over year, marking the sixth consecutive quarter of year-over-year growth above 130%. Our inventory turnover remained around 30 days, and our net promoter score (NPS) improved to 67, sustaining an industry-leading level of 65 or above for six straight quarters. Our data-driven pricing system and superior retail experience continue to drive strong performance across our new superstores. The Wuhan location, which opened in February, is on track to reach nearly 1,800 retail units in December and is expected to maintain a robust growth trajectory. Our Zhengzhou superstore, opened in September, is projected to reach close to 900 units in December, with both sales ramp-up and profitability improving even faster than Wuhan. These results reinforce that our business model is highly scalable and can be successfully replicated across regions nationwide.”

Mr. Dai continued, “Our Jinan superstore also opened in December, completing the three new superstores we originally planned for 2025. Looking ahead, we have a number of superstore pipelines in 2026. The continued ramp-up of newly launched stores, together with sustained growth across our existing network, will be key drivers of our performance in the coming years.”

Mr. Feng Lin, Chief Financial Officer of Uxin, stated, “Our financial performance this quarter continued to demonstrate strong momentum as our total revenue reached RMB879 million. Our retail revenue in particular was RMB819 million, representing an 84% year-over-year growth and 35% quarter-over-quarter growth. As pricing in China’s new-car market stabilizes, profitability across the used-car retail sector has also improved in the quarter. As such, our gross margin reached 7.5%, the highest level in nearly three years, and we recorded a substantial reduction in our non-GAAP adjusted EBITDA loss. We expect this strong performance to continue into the next quarter. For the fourth quarter of 2025, we project retail transaction volume to exceed 18,500 units, up over 110% year over year and more than 30% sequentially. For the full year of 2025, we expect to deliver over 50,000 retail units, representing more than 130% growth compared with 2024.”

Financial Results for the Quarter Ended September 30, 2025

Total revenues were RMB879.3 million (US$123.5 million) for the three months ended September 30, 2025, representing an increase of 33.6% from RMB658.3 million in the last quarter and an increase of 76.8% from RMB497.2 million in the same period last year. The increases were mainly due to the increase in retail vehicle sales revenue.

Retail vehicle sales revenue was RMB819.1 million (US$115.0 million) for the three months ended September 30, 2025, representing an increase of 34.8% from RMB607.6 million in the last quarter and an increase of 84.3% from RMB444.4 million in the same period last year. For the three months ended September 30, 2025, retail transaction volume was 14,020 units, representing an increase of 35.0% from 10,385 units last quarter and an increase of 133.5% from 6,005 units in the same period last year. By offering quality products and services, the Company believes that its superstores have earned customer trust and established Uxin as the well-recognized brand in the regional markets where these superstores are located, leading to a high in-store customer conversion rate. Additionally, since opening in February 2025, the Wuhan superstore continued to achieve strong sales growth.

Wholesale vehicle sales revenue was RMB33.2 million (US$4.7 million) for the three months ended September 30, 2025, compared with RMB29.9 million in the last quarter and RMB37.8 million in the same period last year. For the three months ended September 30, 2025, wholesale transaction volume was 1,884 units, representing an increase of 54.3% from 1,221 units last quarter and an increase of 81.0% from 1,041 units in the same period last year. Wholesale vehicle sales represent vehicles purchased by the Company from individuals that do not meet the Company’s retail standards and are subsequently sold through online and offline channels.

Other revenue was RMB27.0 million (US$3.8 million) for the three months ended September 30, 2025, compared with RMB20.8 million in the last quarter and RMB15.0 million in the same period last year.

Cost of revenues was RMB813.3 million (US$114.2 million) for the three months ended September 30, 2025, compared with RMB624.1 million in the last quarter and RMB462.4 million in the same period last year.

Gross margin was 7.5% for the three months ended September 30, 2025, compared with 5.2% in the last quarter and 7.0% in the same period last year. The increases in gross margin was primarily due to two reasons: Firstly, the intense price competition in China’s new car market has eased during the three months ended September 30, 2025, contributing to a rapid recovery in the gross margin for used cars to a higher level; secondly, there was a positive contribution from the Wuhan superstore, which commenced trial operations in late February 2025 and has moved past its start-up phase while continuing to strengthen its performance in gross margin for used vehicles.

Total operating expenses were RMB123.4 million (US$17.3 million) for the three months ended September 30, 2025. Total operating expenses excluding the impact of share-based compensation were RMB109.3 million.

  • Sales and marketing expenses were RMB91.2 million (US$12.8 million) for the three months ended September 30, 2025, representing an increase of 22.9% from RMB74.2 million in the last quarter and an increase of 62.7% from RMB56.1 million in the same period last year. The increases were mainly due to the increased employee compensation for the sales teams as a result of the increase in headcount.
  • General and administrative expenses were RMB29.1 million (US$4.1 million) for the three months ended September 30, 2025, representing an increase of 49.9% from RMB19.4 million in the last quarter and an increase of 11.8% from RMB26.1 million in the same period last year. The increases were mainly due to the increases in professional fees in relation to certain recent transactions.
  • Research and development expenses were RMB3.1 million (US$0.4 million) for the three months ended September 30, 2025, remaining stable compared with RMB3.1 million in the last quarter and representing an increase of 30.8% from RMB2.4 million in the same period last year. The year-over-year increase was mainly due to the impact of share-based compensation expense.

Other operating income, net was RMB21.0 million (US$2.9 million) for the three months ended September 30, 2025, compared with RMB19.4 million for the last quarter and RMB10.8 million in the same period last year. The year-over-year increase was mainly due to gains from derecognition of certain long-aged liabilities.

Loss from operations was RMB36.5 million (US$5.1 million) for the three months ended September 30, 2025, compared with RMB43.1 million in the last quarter and RMB38.6 million in the same period last year.

Interest expenses were RMB24.1million (US$3.4 million) for the three months ended September 30, 2025, compared with RMB23.1 million in the last quarter and RMB24.1 million in the same period last year.

Net loss from operations was net loss of RMB60.7 million (US$8.5 million) for the three months ended September 30, 2025, compared with net loss of RMB67.6 million in the last quarter and net loss of RMB59.2 million in the same period last year.

Non-GAAP adjusted EBITDA was a loss of RMB5.3 million (US$0.7 million) for the three months ended September 30, 2025, compared with a loss of RMB16.5 million in the last quarter and a loss of RMB9.2 million in the same period last year.

Liquidity

The Company has incurred net losses since inception. For the quarter ended September 30, 2025, the Company incurred net loss of RMB60.7 million and operating cash outflow of RMB172.4 million, and the Company’s current liabilities exceeded current assets by approximately RMB229.7 million and the Company had accumulated deficit in the amount of RMB19.8 billion as of September 30, 2025. Based on the Company’s liquidity assessment, which considers the management’s plan to address these adverse conditions and events including growing its vehicle sales revenue by increasing the sales volume, improving the gross profit margin by increasing the value-added services offered to its customers, maintaining vehicle turnover rate by managing reasonable vehicle prices, raising funds from planned financings, and adjusting its operation scale if and when necessary, the Company believes that it is probable to effectively implement these plans and accordingly, its current cash and cash equivalents and the cash flows from operating and financing activities are sufficient for the Company to meet its anticipated working capital requirements and other capital commitments and the Company will be able to meet its payment obligations when liabilities that fall due within the next twelve months from the date of this release.

Recent Development

Since October 2025, Uxin has made meaningful progress in expanding its superstore footprint, supported by new strategic partnerships in Tianjin, Yinchuan, and Guangzhou.

Uxin Jinan Used Car Superstore

On December 17, 2025, Uxin announced the official opening of its used car superstore in the city of Jinan in Shandong Province. The Jinan location marks Uxin’s fifth large-scale superstore, following successful openings in Xi’an, Hefei, Wuhan, and Zhengzhou. Phase one of the Jinan superstore encompasses approximately 40,000 square meters and can accommodate more than 1,000 vehicles for display and sale at full capacity. The superstore’s launch will further strengthen Uxin’s market presence across Northern China and the Shandong province, accelerating the shift toward scaled, branded, and standardized used car retailing in the area.

Uxin Tianjin Used Car Superstore

On November 12, 2025, Uxin entered into a strategic partnership with the local government authorities in Tianjin to jointly invest, together with selected local companies, in the Uxin Tianjin Used Car Superstore. The project is expected to combine a large-scale reconditioning facility with a one-stop retail experience and provide capacity for more than 3,000 vehicles for display and sale. The first phase of the superstore is scheduled to commence operations in the first half of 2026. Leveraging Tianjin’s strategic location and logistics advantages, the superstore will serve as a regional hub for the Beijing–Tianjin–Hebei area, further strengthening Uxin’s supply chain and service network across northern China.

Uxin Yinchuan Used Car Superstore

On November 11, 2025, Uxin formed a strategic partnership with the local government authorities in Yinchuan to jointly invest, alongside a local state-owned enterprise, in the Uxin Yinchuan Used Car Superstore. The new superstore is expected to have capacity to display approximately 3,000 vehicles for sale, representing another step in Uxin’s nationwide rollout of large-scale retail superstores. As the capital of the Ningxia Hui Autonomous Region and a key hub in China’s westward development strategy, Yinchuan provides a strategic gateway to the northwest, and the superstore is expected to expand Uxin’s coverage across Ningxia and the broader northwestern region while enhancing supply-chain efficiency and the customer service network.

Uxin Guangzhou Used Car Superstore

On October 31, 2025, Uxin entered into a strategic partnership with local government authorities in the city of Guangzhou to jointly invest in the Uxin Guangzhou Used Car Superstore. The new superstore is designed to accommodate over 3,000 vehicles for display and sale. The project will be co-developed by Uxin Limited and the Guangzhou Development District Transportation Investment Group, a leading industrial investment and operations platform in Guangzhou with strong capabilities in infrastructure development and industrial integration. This partnership marks another milestone in Uxin’s nationwide expansion of its used car superstore network, following the successful openings of superstores in Xi’an, Hefei, Wuhan, and Zhengzhou.

Entry into Definitive Agreement for Financing

On December 18, 2025,Uxin entered into a definitive agreement with Abundant Grace Investment Limited (the “Investor“), an entity affiliated with Mr. Bin Li, a director of Uxin. Pursuant to the definitive agreement, the Investor agreed to purchase 1.2 billion Class A Ordinary Shares of the Company at a price of US$0.00833 per Class A Ordinary Share of the Company (equivalent to US$2.5 per American depositary share of the Company) for a total consideration of US$10 million, which is expected to be paid in multiple installments. The closings of the subscriptions are subject to customary closing conditions.

Business Outlook

For the three months ending December 31, 2025, the Company expects its retail transaction volume to range between 18,500 units and19,000 units. The Company estimates that its total revenues including retail vehicle sales revenue, wholesale vehicle sales revenue and other revenue to range between RMB1,150 million and RMB1,180 million. For the full year 2025, the Company expects its retail transaction volume to exceed 50,000 units. The Company estimates that its total revenues including retail vehicle sales revenue, wholesale vehicle sales revenue and other revenue to exceed RMB3,200 million. These forecasts reflect the Company’s current and preliminary views on the market and operational conditions, which are subject to changes.

Conference Call

Uxin’s management team will host a conference call on Thursday, December 18, 2025, at 8:00 A.M. U.S. Eastern Time (9:00 P.M. Beijing/Hong Kong time on the same day) to discuss the financial results. In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive access details for this conference including an event passcode, a unique access PIN, dial-in numbers, and an e-mail with detailed instructions to join the conference call.

Conference Call Preregistration: https://dpregister.com/sreg/10205104/1008c4d12c0 

A telephone replay of the call will be available after the conclusion of the conference call until December 25, 2025. The dial-in details for the replay are as follows:

U.S.:                      +1 855 669 9658
International:        +1 412 317 0088
Replay PIN:         1934452

A live webcast and archive of the conference call will be available on the Investor Relations section of Uxin’s website at http://ir.xin.com.

About Uxin

Uxin is China’s leading used car retailer, pioneering industry transformation with advanced production, new retail experiences, and digital empowerment. We offer high-quality and value-for-money vehicles as well as superior after-sales services through a reliable, one-stop, and hassle-free transaction experience. Under our omni-channel strategy, we are able to leverage our pioneering online platform to serve customers nationwide and establish market leadership in selected regions through offline superstores with inventory capacities ranging from 2,000 to 8,000 vehicles. Leveraging our extensive industry data and continuous technology innovation throughout more than ten years of operation, we have established strong used car management and operation capabilities. We are committed to upholding our customer-centric approach and driving the healthy development of China’s used car industry.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses certain non-GAAP measures, including Adjusted EBITDA and adjusted net loss from operations per share – basic and diluted, as supplemental measures to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines Adjusted EBITDA as EBITDA excluding share-based compensation, foreign exchange (losses)/gain, other income/(expenses), structure realignment cost which was mainly severance cost and equity in income of affiliates. The Company defines adjusted net loss attributable to ordinary shareholders per share – basic and diluted as net loss attributable to ordinary shareholders per share excluding impact of share-based compensation, deemed dividend to preferred shareholders due to triggering of a down round feature and accretion on redeemable non-controlling interests. The Company presents the non-GAAP financial measures because they are used by the management to evaluate the operating performance and formulate business plans. The Company also believes that the use of the non-GAAP measures facilitate investors’ assessment of its operating performance as this measure excludes certain finance or non-cash items that the Company does not believe directly reflect its core operations. The Company believe that excluding these items enables us to evaluate our performance period-over-period more effectively and relative to our competitors.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using Adjusted EBITDA is that it does not reflect all items of income and expenses that affect the Company’s operations. Share-based compensation, other income/(expenses) and foreign exchange (losses)/gain have been and may continue to be incurred in the business. Further, the non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of Uxin’s non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader, except for those transaction amounts that were actually settled in U.S. dollars. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.1190 to US$1.00, representing the index rate as of September 30, 2025 set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Uxin’s strategic and operational plans, contain forward-looking statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Uxin’s goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin’s expectations regarding demand for, and market acceptance of, its products and services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China’s used car e-commerce industry and other related industries; the laws and regulations relating to Uxin’s industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media enquiries, please contact: 
Uxin Limited Investor Relations
Uxin Limited
Email: ir@xin.com

The Blueshirt Group
Mr. Jack Wang
Phone: +86 166-0115-0429
Email: Jack@blueshirtgroup.co

 

Uxin Limited 

Unaudited Consolidated Statements of Comprehensive Loss

(In thousands except for number of shares and per share data)

For the three months ended  September 30,

For the nine months ended September 30,

2024

2025

2024

2025

RMB

RMB

US$

RMB

RMB

US$

Revenues

      Retail vehicle sales

444,399

819,132

115,063

1,038,787

1,892,261

265,804

      Wholesale vehicle sales

37,826

33,218

4,666

141,445

85,654

12,032

      Others

14,995

26,947

3,785

37,323

63,882

8,973

Total revenues

497,220

879,297

123,514

1,217,555

2,041,797

286,809

Cost of revenues

(462,360)

(813,327)

(114,247)

(1,136,068)

(1,906,279)

(267,773)

Gross profit

34,860

65,970

9,267

81,487

135,518

19,036

Operating expenses

Sales and marketing

(56,060)

(91,197)

(12,810)

(166,228)

(227,113)

(31,902)

General and administrative 

(26,074)

(29,145)

(4,094)

(129,529)

(66,922)

(9,400)

Research and development

(2,361)

(3,088)

(434)

(11,768)

(9,076)

(1,275)

Reversal of credit losses, net

162

39

5

521

453

64

Total operating expenses

(84,333)

(123,391)

(17,333)

(307,004)

(302,658)

(42,513)

Other operating income, net

10,824

20,952

2,943

14,542

52,279

7,344

Loss from operations

(38,649)

(36,469)

(5,123)

(210,975)

(114,861)

(16,133)

Interest income

10

6

1

34

56

8

Interest expenses

(24,095)

(24,083)

(3,383)

(70,923)

(69,723)

(9,794)

Other income

1,498

1,200

169

2,753

7,965

1,119

Other expenses

(1,331)

(1,679)

(236)

(6,217)

(3,832)

(538)

Net gain from extinguishment of debt

35,222

Foreign exchange gains

969

328

46

1,959

751

105

Loss before income tax expense

(61,598)

(60,697)

(8,526)

(248,147)

(179,644)

(25,233)

Income tax expense

(50)

(39)

(5)

Equity in income/(loss) of affiliates, net of tax   

2,429

(3,522)

Net loss, net of tax

(59,169)

(60,697)

(8,526)

(251,719)

(179,683)

(25,238)

Add: net profit attribute to redeemable non-
controlling interests and non-controlling interests
shareholders

(1,668)

(2,472)

(347)

(4,938)

(10,354)

(1,454)

Net loss attributable to UXIN LIMITED

(60,837)

(63,169)

(8,873)

(256,657)

(190,037)

(26,692)

Deemed dividend to preferred shareholders due to
triggering of a down round feature

(1,781,454)

Net loss attributable to ordinary shareholders

(60,837)

(63,169)

(8,873)

(2,038,111)

(190,037)

(26,692)

Net loss

(59,169)

(60,697)

(8,526)

(251,719)

(179,683)

(25,238)

Foreign currency translation,  net of tax nil

(6,763)

6,459

907

(7,913)

6,550

920

Total comprehensive loss

(65,932)

(54,238)

(7,619)

(259,632)

(173,133)

(24,318)

Add: net profit attribute to redeemable non-
controlling interests and non-controlling interests
shareholders

(1,668)

(2,472)

(347)

(4,938)

(10,354)

(1,454)

Total comprehensive loss attributable to UXIN
LIMITED

(67,600)

(56,710)

(7,966)

(264,570)

(183,487)

(25,772)

Net loss attributable to ordinary shareholders

(60,837)

(63,169)

(8,873)

(2,038,111)

(190,037)

(26,692)

Weighted average shares outstanding – basic

56,418,967,059

64,131,342,471

64,131,342,471

39,162,256,355

61,879,934,707

61,879,934,707

Weighted average shares outstanding -diluted

56,418,967,059

64,131,342,471

64,131,342,471

39,162,256,355

61,879,934,707

61,879,934,707

Net loss per share for ordinary shareholders, basic

(0.00)

(0.00)

(0.00)

(0.05)

(0.00)

(0.00)

Net loss per share for ordinary shareholders, diluted

(0.00)

(0.00)

(0.00)

(0.05)

(0.00)

(0.00)

 

Uxin Limited

Unaudited Consolidated Balance Sheets 

(In thousands except for number of shares and per share data)

As of December 31,

As of September 30,

2024

2025

RMB

RMB

US$

ASSETS

Current assets

Cash and cash equivalents

25,112

76,164

10,699

Restricted cash

767

71

10

Accounts receivable, net

4,150

4,211

592

Loans recognized as a result of payments under
guarantees, net of provision for credit losses of
RMB7,710 and RMB7,706 as of December 31,
2024 and September 30, 2025, respectively

Other receivables, net of provision for credit
losses of RMB21,113 and RMB15,369 as of
December 31, 2024 and September 30, 2025,
respectively

14,998

15,656

2,199

Inventory, net

207,390

405,733

56,993

Prepaid expenses and other current assets

86,977

97,712

13,727

Total current assets

339,394

599,547

84,220

Non-current assets

Property, equipment and software, net

71,420

85,477

12,007

Finance lease right-of-use assets, net

1,346,728

1,325,997

186,262

Operating lease right-of-use assets, net 

194,388

238,491

33,501

Total non-current assets

1,612,536

1,649,965

231,770

Total assets

1,951,930

2,249,512

315,990

LIABILITIES, MEZZANINE EQUITY AND
SHAREHOLDERS’ DEFICIT

Current liabilities

Accounts payable

81,584

60,061

8,437

Other payables and other current liabilities

306,391

295,609

41,523

Current portion of operating lease liabilities

14,563

16,217

2,278

Current portion of finance lease liabilities

183,852

186,596

26,211

Short-term borrowings from third parties

174,616

270,717

38,027

Short-term borrowings from related party

1,000

Total current liabilities

762,006

829,200

116,476

Non-current liabilities

Long-term borrowings from related party (i)

53,913

Long-term borrowings from third parties

14,211

2,000

Consideration payable to WeBank

27,237

Finance lease liabilities

1,141,118

1,064,241

149,493

Operating lease liabilities

180,920

226,846

31,865

Total non-current liabilities

1,403,188

1,305,298

183,358

Total liabilities

2,165,194

2,134,498

299,834

Mezzanine equity

Redeemable non-controlling interests  (ii)

154,977

320,038

44,955

Total Mezzanine equity

154,977

320,038

44,955

Shareholders’ deficit

Ordinary shares (iii)

39,816

45,071

6,331

Additional paid-in capital (iii)

19,007,948

19,289,890

2,709,635

Subscription receivable from shareholders (iii)

(60,467)

Accumulated other comprehensive income

227,718

234,268

32,907

Accumulated deficit

(19,583,017)

(19,773,054)

(2,777,504)

Total Uxin’s shareholders’ deficit

(368,002)

(203,825)

(28,631)

Non-controlling interests

(239)

(1,199)

(168)

Total shareholders’ deficit

(368,241)

(205,024)

(28,799)

Total liabilities, mezzanine equity and
shareholders’ deficit

1,951,930

2,249,512

315,990

(i) Long-term borrowing from related party outstanding as of December 31, 2024 amounted to RMB53.9 million. On September 12, 2024,
the Company’s Anhui subsidiary (“Uxin Anhui”) entered into a loan agreement with Pintu (Beijing) information Technology Co., Ltd.
(“Pintu Beijing”), pursuant to which Pintu Beijing agreed to extend loan to Uxin Anhui in a principal amount of the RMB equivalent of
US$7.5 million for a term of 18 months from the drawdown date unless other repayment schedule is negotiated and mutually agreed by
Uxin Anhui and Pintu Beijing. The interest rate is 5.35% per annum within 12 months after the drawdown date, and 8% per annum after
12 months until the loan is repaid in full. The loan is guaranteed by Uxin’s Shaanxi subsidiary pursuant to a guarantee agreement
entered on the same date. On September 13, 2024, Uxin Anhui made the drawdown of this loan, and the total RMB amount received
was classified as “Long-term borrowings from related party” in non-current liabilities. Subsequently in November 2024, the Company
entered into a Share Subscription Agreement with Lightwind Global Limited (“Lightwind”, a wholly-owned subsidiary of Pintu Beijing).
Pursuant to this agreement and subject to the fulfilment of specified conditions, Uxin agreed to allot and issue, while Lightwind agreed
to subscribe for, a total of 1,543,845,204 Class A Ordinary Shares of the Company, with an aggregate subscription amount of US$7.5
million. When the specified conditions were fulfilled and a repayment schedule of the long-term loan of US$7.5 million was mutually
agreed, Lightwind shall invest equivalent amount in the Company after Uxin Anhui repays the loan under the repayment schedule to
Pintu Beijing.

In March 2025, a revised repayment schedule was mutually agreed by Uxin Anhui and Pintu Beijing. Pursuant to which, Uxin Anhui
fully repaid the total amount of principal and interests, amounting to RMB55.0 million, to Pintu Beijing by 2 installments, RMB15.0
million in March 2025 and RMB40.0 million in April 2025. Concurrently, Lightwind made an equivalent investment in the Company as
the specified conditions for the investment had been fulfilled.

(ii) On October 16, 2024, the Company, through Uxin Anhui, entered into an agreement with Wuhan Junshan Urban Asset Operation
Co.,Ltd. (“Wuhan Junshan”), a company indirectly controlled by Wuhan City Economic & Technological Development Zone, to
establish a subsidiary, Wuhan Youxin Intelligent Remanufacturing Co., Ltd. (“Uxin Wuhan”). Uxin Anhui will contribute RMB66.7
million and Wuhan Junshan will contribute RMB33.3 million, representing approximately 66.7% and 33.3% of Uxin Wuhan’s total
registered capital, respectively. As of September 30, 2025, the Company and Wuhan Junshan each made contributions of RMB26.0
million to Uxin Wuhan, respectively, and the investment from Wuhan Junshan was recognized as redeemable non-controlling
interests.

On September 20, 2023, we entered into an equity investment agreement with Hefei Construction Investment. Pursuant to the
agreement, Hefei ConstructionInvestment will invest by multiple instalments in Uxin Hefei, and each instalment will be made after the
lease payment is made by the Hefei subsidiary, over a 10-yearperiod. As of September 30, 2025, the first-year and second-year rentals
of approximately RMB147.1 million and RMB127.7 million was converted intothe investment of approximately 12.02% and 8.40% equity
interests in Uxin Hefei by Hefei Construction Investment, respectively. The investment was recognized as redeemable non-controlling
interests.

(iii) On March 4, 2025, the Company entered into a share subscription agreement with Fame Dragon Global Limited (the “Investor”), an
investment vehicle of NIO Capital, pursuant to which the Investor agreed to purchase 5,738,268,233 Class A Ordinary Shares of the
Company for a total consideration of US$27.8 million.  As of September 30, 2025, the Company had received US$27.8 million from Fame
Dragon Global and issued 5,738,268,233 Class A Ordinary Shares of the Company to the Investor and entities designted by the
Investor.

In substance, the Company issued a forward contract to the Investor, as the Investor is obligated to purchase the shares, and the
Company is required to issue them upon the satisfaction of the closing conditions at the pre-agreed price and amount which shall be a
deemed dividend to the forward contract holder recorded in the additional paid-in capital. In addition, given that this forward contract
is considered indexed to the Company’s own stock and meet the requirement for equity classification, it was also classified under the
Company’s equity and was initially measured at fair value amounting to RMB180.8 million with no subsequent remeasurement.

In June 2022, the Company entered into a definitive agreement with affiliates of an existing shareholder, NIO Capital. Pursuant to the
definitive agreement, NIO Capital had agreed with the Company for the subscription of 714,285,714 senior convertible preferred shares
for an aggregate amount of US$100.0 million, which was to be paid in multiple instalments. The first payment for the par value of these
preferred shares of US$71.4 thousand was made by NIO Capital in July 2022. In October 2022 and March 2023, a total of US$9.9 million
and US$8.4 million was paid by NIO Capital. The remaining US$81.6 million was recorded in “Subscription receivable from
shareholders” and reflected as a deduction from mezzanine equity as of March 31, 2023. On April 4, 2023, NIO Capital, NBNW
Investment Limited (“NBNW”, an affiliate of NIO Capital) and the long-term debt holders of the Company, namely WP, TPG, and
Magic Carpet, entered into assignment agreements to assign all the rights under the then outstanding long-term debt of US$61.6
million to NBNW and then further assign to NIO Capital. Concurrently, the Company entered into a supplemental agreement with NIO
Capital, and agreed to offset its subscription receivable by US$61.6 million with its obligation under long-term debt due to NIO Capital
after the assignment. This supplemental agreement resulted in a remaining US$20 million amount due to the Company from NIO Capital
relating to the aforementioned senior convertible shares subscription agreement. In April and October 2023, subscription receivable of
US$1.6 million and US$2 million was received. On March 27, 2024, as agreed by all the preferred shareholders, all of the Company’s
2,810,961,908 outstanding senior convertible preferred shares were converted into 54,960,889,255 Class A ordinary shares.
Accordingly, subscription receivable of US$16.4 million due from NIO Capital reflected as a deduction from mezzanine equity was
presented as subscriptions receivable, a contra-equity balance on the Consolidated Balance Sheets as of March 31, 2024. The
subscription receivables amounting to US$16.4 million were subsequently received in May, June and July 2024 and September 2025.

 

 

* Share-based compensation charges included are as follows:

For the three months ended September 30,

 For the nine months ended September 30,

2024

2025

2024

2025

RMB

RMB

US$

RMB

RMB

US$

Sales and marketing

1,314

185

136

3,670

516

General and administrative

13,992

12,194

1,713

66,164

28,351

3,982

Research and development

627

88

128

1,869

263

 

 

Uxin Limited

Unaudited Reconciliations of GAAP And Non-GAAP Results 

(In thousands except for number of shares and per share data)

For the three months ended September 30,

 For the nine months ended September 30,

2024

2025

2024

2025

RMB

RMB

US$

RMB

RMB

US$

Net loss, net of tax

(59,169)

(60,697)

(8,526)

(251,719)

(179,683)

(25,238)

Add: Income tax expense

50

39

5

Interest income

(10)

(6)

(1)

(34)

(56)

(8)

Interest expenses

24,095

24,083

3,383

70,923

69,723

9,794

Depreciation

15,479

17,069

2,398

47,816

50,311

7,067

EBITDA

(19,605)

(19,551)

(2,746)

(132,964)

(59,666)

(8,380)

Add: Share-based compensation expenses

13,992

14,135

1,986

66,428

33,890

4,761

– Sales and marketing

1,314

185

136

3,670

516

– General and administrative

13,992

12,194

1,713

66,164

28,351

3,982

– Research and development

627

88

128

1,869

263

Other income

(1,498)

(1,200)

(169)

(2,753)

(7,965)

(1,119)

Other expenses

1,331

1,679

236

6,217

3,832

538

Foreign exchange gains

(969)

(328)

(46)

(1,959)

(751)

(105)

Structure realignment cost

13,948

Equity in (income)/loss of affiliates, net of tax   

(2,429)

3,522

Net gain from extinguishment of debt

(35,222)

Non-GAAP adjusted EBITDA

(9,178)

(5,265)

(739)

(82,783)

(30,660)

(4,305)

For the three months ended September 30,

 For the nine months ended September 30,

2024

2025

2024

2025

RMB

RMB

US$

RMB

RMB

US$

Net loss attributable to ordinary shareholders

(60,837)

(63,169)

(8,873)

(2,038,111)

(190,037)

(26,692)

Add: Share-based compensation expenses

13,992

14,135

1,986

66,428

33,890

4,761

– Sales and marketing

1,314

185

136

3,670

516

– General and administrative

13,992

12,194

1,713

66,164

28,351

3,982

– Research and development

627

88

128

1,869

263

Add: accretion on redeemable non-controlling
interests

1,668

3,328

467

4,968

11,314

1,589

Deemed dividend to preferred shareholders due
to triggering of a down round feature

1,781,454

Non-GAAP adjusted net loss attributable to
ordinary shareholders

(45,177)

(45,706)

(6,420)

(185,261)

(144,833)

(20,342)

Net loss per share for ordinary shareholders –
basic

(0.00)

(0.00)

(0.00)

(0.05)

(0.00)

(0.00)

Net loss per share for ordinary shareholders –
diluted

(0.00)

(0.00)

(0.00)

(0.05)

(0.00)

(0.00)

Non-GAAP adjusted net loss to ordinary
shareholders per share – basic and diluted

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

Weighted average shares outstanding – basic

56,418,967,059

64,131,342,471

64,131,342,471

39,162,256,355

61,879,934,707

61,879,934,707

Weighted average shares outstanding – diluted

56,418,967,059

64,131,342,471

64,131,342,471

39,162,256,355

61,879,934,707

61,879,934,707

Note: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00 = RMB7.1190 as of September 30, 2025 set forth in the H.10 statistical
release of the Board of Governors of the Federal Reserve System.