After massive erosion in its valuation, Uxin (UXIN) is selling at 1.5x forward sales. With 69% revenue growth and an asset/liability ratio of 1.6x, the company represents a buying opportunity. Bilbao Asset Management was correct when it noted that the company could not sell ADSs at $10.50-$12.50. Right now, Uxin trades at $2.0-$2.20 and 1.5x forward sales, which is not reasonable either. Other Chinese companies listed in the US sell at 1x-4x forward revenue with less revenue growth than Uxin.
Business Overview
Uxin, according to iResearch, is the largest used car e-commerce