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BEIJING, July 26, 2022 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading e-commerce platform for buying and selling used cars in China, today announced the release of its inaugural Environmental, Social and Governance Report (the “ESG Report”). The ESG Report highlighted the Company’s ongoing efforts to implement ESG considerations and practices into its operations during the fiscal year of 2022, including product responsibility, technology innovation, carbon reduction, talent development, and corporate governance.
To view the report in full, please visit the ESG section on the Company’s investor relations website at https://ir.xin.com/esg.
“Corporate social responsibility is an essential element of our corporate culture and is the foundation of our strategy for achieving greater value for our customers, employees, shareholders, and communities," said Mr. Kun Dai, Chairman and Chief Executive Officer of Uxin, “The used car industry is an integral component of China’s economic circular flow. The circulation of vehicles plays a critical role in lowering production waste, reducing pollution, and improving societal resource utilization. As an industry leader and a pioneer of energy conservation and emission reduction, we actively advocate for a green and low-carbon lifestyle by promoting the consumption of used cars. Going forward, we will remain committed to integrating the concept of sustainable development into our operations and business growth to help the used car industry develop in a high-quality and environmental-friendly direction.”
Highlights of the Company’s ESG efforts and performance include：
1. Promoting Green and Low-Carbon Circular Economy
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Improve used vehicles’ quality and safety to extend their lifecycles through advanced reconditioning technologies.
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Set off a new journey in the used new energy vehicle market by advocating a greener way to travel that aligns with sustainable development goals.
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Developed a smart logistic system and network to optimize routing efficiency, lower empty-loaded rates, and reduce unnecessary transportation emissions.
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Based on the TCFD framework, Uxin has identified the risks and challenges with climate change, as well as integrated the ESG development concept into its strategic planning and implemented it into its daily operations and management.
2. Product Responsibility
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With a 100% inventory-owning model, Uxin has full control over the supply chain of used vehicles products in all aspects, from acquisition, inspection, reconditioning, sales and after sales, etc.
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Formulates uniform quality control criteria for non-standard used vehicles. Supported by the industry-leading inspection and reconditioning technology, Uxin’s IRCs in Xi’and Hefei can conduct comprehensive inspection and recondition all retail vehicles to a “like new” condition through an assembly line operation. All vehicle information is transparent to consumers.
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Uxin implements a non-differentiated pricing strategy base on self-developed Manhattan pricing system for the intelligent decision-making, which follows the “one price without hidden costs” policy, to ensure fair pricing and minimize other subjective influences.