Uxin Issues Statement on Unusual Trading Activities
April 16 2019 - 9:24PM
Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), the largest
used car e-commerce platform in China, today issued a statement in
response to unusual trading activities that occurred on April 16,
2019.
The Company believes the unusual stock trading
activities were caused by a report published by J Capital Research
on April 16, 2019, which contains errors of facts, misleading
speculations and malicious interpretations of events. Uxin believes
that the allegations in the report are completely without merit,
and strongly condemns the publishing of false and misleading
information.
The Company firmly denies the baseless
allegations that it has falsified any sales data. Kun Dai, the
Founder, Chairman and Chief Executive Officer of Uxin, also
confirmed that he had never voluntarily sold any shares in
Uxin as alleged in the report.
The Company is carefully reviewing the report
and will provide additional information on the
allegations as appropriate.
Uxin is committed to providing fair and
transparent disclosure to investors and to rebutting any false
claims that attempt to undermine confidence in Uxin’s business,
management and operations.
About Uxin
Uxin Limited (Nasdaq: UXIN) is the largest used
car e-commerce platform in China. Uxin’s mission is to enable
people to buy the car of their choice, no matter where they are
located or what their budget is. Uxin enables consumers and dealers
to buy and sell cars through an innovative integrated online and
offline platform that addresses each step of the transaction and
covers the entire value chain. Its online presence is bolstered by
an offline network of more than 670 service centers in over
270 prefecture level cities throughout China.
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. 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 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; 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 enquiries, please
contact:
Nancy SongUxin Investor RelationsTel: +86 10
5691-6765Email: ir@xin.com
For media enquiries, please
contact:
Yi-Ke HongBrunswick GroupTel: +86 10
5960-8600Email: uxin@brunswickgroup.com
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