Wen Jidai

Wen Jidai of SWS Research inquired about the specific measures that led to the Wuhan superstore's significantly faster ramp-up compared to Xi’an and Hefei, and also asked about management's view on the competitive landscape in Zhengzhou and the replicability of Wuhan's success there and in future new superstores.

Answer

Kun Dai, CEO of Uxin, attributed Wuhan's success to a highly mature and replicable digital business management system, fully standardized business processes, and well-established organizational and talent development systems. Regarding Zhengzhou, he acknowledged intense competition but highlighted Uxin's differentiated superstore model, emphasizing broader selection, value, quality assurance, and one-stop service. He expressed confidence in replicating Wuhan's success in Zhengzhou and other future top-tier cities, leveraging mature systems and processes.

Wen Jidai inquired about the specific differentiated measures Uxin implemented in the Wuhan superstore that led to its significantly faster ramp-up and sales growth compared to earlier locations, and also asked for management's view on the competitive landscape in the newly opened Zhengzhou superstore, questioning whether Wuhan's success could be replicated there and in future expansions.

Answer

CEO Kun Dai, who also serves as the General Manager of the Wuhan superstore, attributed Wuhan's rapid success to three key factors: the highly mature and replicable digital business management system refined over four years at Xi’an and Hefei, which benefits from a self-reinforcing flywheel effect (e.g., intelligent pricing system accuracy improving with more transaction data); fully standardized business processes and established organizational/talent development systems; and the experienced management team at Wuhan, which avoided past mistakes and accelerated execution. Regarding Zhengzhou, Kun Dai acknowledged the intense competition but highlighted the city's large market potential. He emphasized Uxin's superstore model's differentiation through broader selection, value, quality assurance, and one-stop service, which resonates with target customers. Kun Dai expressed confidence that with mature business processes and digital systems, Wuhan's success can be replicated in Zhengzhou and other future superstores, especially as target expansion cities are among China's top 20 in vehicle ownership.