 BEIJING, July 12, 2021 GLOBE NEWSWIRE -- Uxin Limited Uxin or the Company NASDAQ: UXIN, a leading nationwide online used car dealer in China, today announced the closing of the first tranche of its financing transaction of up to US315 million announced on June 15, 2021, pursuant to which the Company has issued a total of 291,290,416 senior convertible preferred shares, equivalent to 97,096,805 American Depositary Shares ADSs of the Company, to NIO Capital and Joy Capital for an aggregate purchase amount of US100 million. The Companys convertible notes holders, including 58.com, TPG and Warburg Pincus, have converted their convertible notes in an aggregate principal amount of US69 million into 66,990,291 Class A ordinary shares of the Company, equivalent to 22,330,097 ADSs. Concurrently, more than ten important investors, including NIO Capital, Joy Capital and the above-mentioned convertible notes holders have agreed not to sell their shares of the Company for a period of nine months starting July 12, 2021. Closings of the remaining tranches are subject to the terms and conditions stipulated in the agreements. 