Transforming Uxin Finds Government Support in Anhui

Used car seller unveils plan to build $388 million reconditioning center in eastern province, even as its cash levels remain low Key takeaways: Uxin’s new $388 million investment in Anhui is part of its broader plan to transform from a middleman to a direct used car seller One of the company’s biggest challenges going forward could be a lack of cash to execute its cost-heavy transformation plan By Mo Yelin Online used car seller Uxin Ltd. (UXIN.US) made a bold move last June to reinvent itself – shifting gears from…

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Share Buybacks Bring Mixed Results for Smart Share Global, Cloopen

Two China tech firms are the latest in a recent string to announce share repurchases with hopes of boosting their sagging stocks Key points: Smart Share Global’s shares surged after it announced a $50 million stock buyback plan, while Cloopen’s were largely unchanged after it separately unveiled a similar plan Purchasing by a major institutional buyer may have fueled Smart Share Global’s surge, as such big buyers look for bargains among depressed Chinese shares   By Doug Young It could well be called “A Tale of Two Buybacks.” A day…

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Transitioning Auto Specialist Cango Can’t Outrace Macro Challenges

Company blames regulation, auto chip shortage for its stalling revenues, as it continues to ramp up car-trading services   Key Points: Cango has improved its overall performance with a timely shift toward auto trading to complement its struggling auto financing business Company blames regulatory challenges at home and global chip shortage for stalling revenue growth By Eric Auchard China’s race to create a successful car trading and financing platform blending online and offline services has become a game of business-model bumper cars, and an auto graveyard for some. The result…

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