Uxin (NASDAQ:UXIN) has agreed to raise $50 million in new equity financing as the Nasdaq-listed company seeks to accelerate expansion in China’s used-car retail market.
The Beijing-based firm said it entered definitive share subscription agreements on Dec. 26 with affiliates of NIO Capital and Prestige Shine Group Limited.
Under the deal, the investors will purchase a combined 5,246,589,717 Class A ordinary shares at $0.00953 per share, equivalent to $2.859 per American depositary share, according to the company.
Affiliates of NIO Capital will invest $20 million, while Prestige Shine will contribute $30 million, bringing total gross proceeds to $50 million.
Completion of the transaction is subject to customary closing conditions.
Management said the funds are expected to support the launch of four to six new superstores in 2026, strengthen Uxin’s balance sheet, and provide additional capital for operational expansion.
The company has been repositioning itself around a superstore-centric model as it seeks to capture demand in China’s fragmented used-car market, where scale and inventory depth are increasingly seen as competitive advantages.