Uxin Enters into Joint Venture Agreement with Shijiazhuang State-Owned Enterprise

Uxin Limited, a prominent player in China's used car retail sector, has announced a strategic partnership with Hebei Chengying Investment Promotion Operation Co., Ltd. to establish a joint venture named Uxin (Shijiazhuang) Automobile Maintenance Co., Ltd. The deal, valued at $40 million, was disclosed on June 2, 2026. Uxin will contribute RMB30 million, while Hebei Chengying will provide RMB10 million, marking a significant step in the development of the automotive aftermarket industry in North China.

The joint venture aims to create a used car superstore in Shijiazhuang, the capital of Hebei Province, which is strategically located within the Beijing-Tianjin-Hebei region. With a population exceeding 11 million and over 4 million registered vehicles, Shijiazhuang presents a substantial market opportunity for Uxin. The establishment of this superstore is expected to enhance the used car purchasing experience for consumers and bolster Uxin's presence in a region characterized by increasing demand for automotive services.

Uxin's decision to partner with Hebei Chengying underscores its commitment to leveraging local partnerships to drive growth. The collaboration with a state-owned enterprise aligns with Uxin's strategy to tap into regional market dynamics and enhance its operational capabilities. Uxin's extensive experience in supply chain management and digital operations positions it well to capitalize on the growing automotive aftermarket sector, which is increasingly important as vehicle ownership continues to rise in China.

The automotive sector in China is undergoing significant transformation, with a shift towards digitalization and enhanced customer experiences. Uxin has been at the forefront of this change, utilizing technology to streamline operations and improve service delivery. The new joint venture is likely to serve as a regional hub for used car circulation and services, further solidifying Uxin's market leadership and expanding its footprint in the competitive landscape of the automotive industry.

In summary, the establishment of Uxin (Shijiazhuang) Automobile Maintenance Co., Ltd. represents a strategic move for Uxin Limited and a notable investment in the automotive aftermarket space. As the demand for used cars and related services continues to grow in North China, this joint venture is poised to make a meaningful impact on the market. The collaboration reflects broader trends in the automotive sector, where partnerships and innovation are essential for navigating evolving consumer preferences and competitive pressures.