Uxin Limited

Good day and welcome to the USHE third quarter fiscal year 2024 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touchtone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Mr. Jack Wang. Please go ahead, Jack.

All right. Thank you, operator. Hello, everyone. Welcome to Yuxin's earnings conference call for the third quarter of fiscal year 2024 and December 31st, 2023. On the call with me today, we have DK, our founder and CEO, as well as John Lin, our CFO. DK will review business operations and company highlights, followed by John, who will discuss our financials and our guidance. They will both be available to answer your questions during the Q&A session that follows. Before we proceed, I would like to remind you that this call may contain forward-looking statements, which are inherently subject to risks and uncertainties that may cause actual results to differ from our current expectations. For detailed discussions of the risks and uncertainties, please refer to our findings with the SEC. Now I'll turn the call over to our CEO, DK. Please go ahead, sir.

Hello everyone. Thank you for joining us today. I'm pleased to reconnect with you all on the call. To facilitate communication with both domestic and international investors, I will share our company's latest progress in both Chinese and English. I will review the key highlights from this quarter before sharing the work we are currently engaged in and our plans for the future. In the third quarter of 2024, that is, from October to December 2023, the domestic new car market began a new downward trend. the second-hand car market has also been affected to a certain extent. In such a challenging external environment, we maintain a growth trend in retail business. In the entire quarter, retail sales amounted to 3,081 units, which increased by 34.7% and increased by 5.2%. The operation of supermarkets is also more smooth. At present, the turnover of resold vehicles has maintained a super high efficiency within 30 days and has reached the industry's highest level of NPS of more than 60 points in eight consecutive quarters.