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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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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Yixin Drives Out From Fintech Maelstrom

Former auto lender issues upbeat first-quarter guidance after its transition to loan facilitator Key points: Tencent-backed auto-financier Yixin’s strong first-quarter update shows it’s making progress in transforming from lender to loan facilitator Company’s position remains tenuous as China reportedly considers new regulations on such loan facilitators By Ben Livesey Yixin Group Ltd. (2858.HK), the online auto financier backed by internet giant Tencent, has given investors reason to cheer after recently posting a bullish first quarter update. The announcement provided a lift for the much-scrutinized fintech sector, as well as for…

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