Coronavirus prompts China's online used car trading firms to cut salaries [Reuters (UK)]
Uxin Limited - American Depositary Shares (UXIN)
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Source: Reuters
Coronavirus prompts China's online used car trading firms to cut salaries - Reuters 2 Min Read BEIJING, March 2 (Reuters) - Two of China’s biggest online used car trading platforms are putting workers on leave or cutting staff salaries as the coronavirus epidemic dries up sales, the companies told Reuters. Uxin Ltd, the country’s largest online used car trading platform, said in a statement on Monday it was using both strategies as part of efforts to control its budget and cash flow. The company said it would not lay off staff but expected business in the first and second quarter to be “affected by varying degrees”. Chehaoduo, another online car dealer which secured $1.5 billion in funding from SoftBank’s Vision Fund last year, is cutting staff salaries by different degrees in February and March, according to an internal email seen by Reuters. Chehaoduo, which operates used car trading website Guazi.com and new car sales platform Maodou.com, said in a statement to Reuters it expected
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UXIN
News
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- Uxin's High-Speed Pursuit Of Profit: Debt-Driven Expansion [Seeking Alpha]Seeking Alpha
- Uxin First Quarter 2025 Earnings: CN¥0.27 loss per share (vs CN¥19.30 loss in 1Q 2024) [Yahoo! Finance]Yahoo! Finance
- Uxin eyes EBITDA profitability ahead, posts smaller loss; shares rise [Seeking Alpha]Seeking Alpha
UXIN
Sec Filings
- 11/6/24 - Form SC
- 11/4/24 - Form 6-K
- 10/23/24 - Form SC
- UXIN's page on the SEC website