Youxin, a used car trading platform in China has recently reported it filed an initial public offering (IPO) listing with the US Securities Exchange Commissioner, according to a Chinese tech media company, PingWest.
Youxin is planning to be listed on America’s Nasdaq Stock Market under the ticker “UXIN” and raise up to US$500 million.
Founded in 2011, Youxin today is a leader in China’s second-hand trading market, offering both B2B second-hand car auction service platform and B2C used-car trading platform. Its platform can also be termed as a one-stop shop, offering services ranging from vehicle detection, secure payment, logistics to car financing services.
According to Youxin’s prospectus, the company’s revenue experienced a 93.2% growth in revenue year-on-year for the first quarter ended March 31 2018.
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