This morning Uxin Ltd (NASDAQ:UXIN) reported its financial results for the fourth fiscal quarter and it seems that investors are not quite impressed with the performance, since the company’s stock has tanked by 3% so far. In this situation, it might be a good idea to take a look at the company’s performance and then make up one’s mind.
The total revenues in the quarter that ended on March 31, 2021 came in at RMB196 million for the Chinese company. In the prior year period, Uxin had generated revenues of RMB103.9 million.
On the other hand, the ordinary shareholders at Uxin suffered a loss of RMB0.12 per share. The company also announced that it expects the revenues to be in the range between RMB260 million and RMB280 million in the quarter that ended on June 30, 2021.
In addition to that, the company also projected that the adjusted loss on a non-GAAP basis for the quarter ended on June 30, 2021 is going to be less than RMB50 million. Earlier on in the month the company had also announced that it successfully completed the first tranche of its financing deal worth as much as $100 million. It now remains to be seen if the stock make a recover today.