Uxin Limited (UXIN) 20-F 29 Apr 19 2018 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2018shares
Entity Registrant Name	Uxin Ltd
Entity Central Index Key	0001729173
Document Type	20-F
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Class A ordinary shares
Entity Common Stock, Shares Outstanding	839,850,038
Class B ordinary shares
Entity Common Stock, Shares Outstanding	40,809,861

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Current assets:
Cash and cash equivalents	$ 116,709	¥ 800,997	¥ 291,973
Restricted cash	293,308	2,013,030	1,617,230
Short-term investments	86,851	596,078	1,000
Accounts receivable	7,520	51,610	40,155
Amounts due from related parties			608,291
Advance to consumers on behalf of financing partners	76,044	521,908	827,417
Loan recognized as a result of payment under the guarantee, net	80,675	553,688	252,555
Advance to sellers	100,932	692,714	246,287
Other receivables, net	103,072	707,404	251,649
Inventory	2,823	19,380	77,941
Prepaid expenses and other current assets	60,805	417,314	249,769
Financial lease receivables, net	42,912	294,511	438,693
Total current assets	971,651	6,668,634	4,902,960
Noncurrent assets:
Property, equipment and software, net	29,035	199,271	156,625
Intangible assets, net	3,086	21,179	9,949
Goodwill	16,089	110,424	75,849
Long-term investments	50,979	349,882	40,628
Other noncurrent assets			112,902
Total noncurrent assets	99,189	680,756	395,953
Total assets	1,070,840	7,349,390	5,298,913
Current liabilities (including amounts of the consolidated VIEs and VIEs' subsidiaries without recourse to the primary beneficiary of RMB407,809 and RMB261,226 as of December 31, 2017 and 2018, respectively)
Short-term borrowings	91,005	624,588	426,783
Accounts payable	22,777	156,320	65,694
Guarantee liabilities	46,808	321,255	173,907
Deposit of interests from consumers and payable to financing partners-current	70,350	482,827	732,273
Advance from buyers collected on behalf of sellers	54,756	375,803	226,891
Other payables and accruals	174,452	1,197,300	927,389
Deferred revenue	16,779	115,160	27,598
Other current liabilities			163,355
Derivative liabilities			1,596,424
Convertible notes	173,125	1,188,192
Total current liabilities	650,052	4,461,445	4,340,314
Noncurrent liabilities
Long-term borrowings	70,201	481,801	374,104
Deposit of interests from consumers and payable to financing partners-noncurrent	4,334	29,742	343,823
Deferred tax liabilities	693	4,759	1,653
Total noncurrent liabilities	75,228	516,302	719,580
Total liabilities	725,280	4,977,747	5,059,894
Commitments and contingencies
Mezzanine equity
Redeemable non controlling interests			39,580
Total Mezzanine equity			8,420,644
Shareholders' (deficit)/equity
Ordinary shares (US$0.0001 par value, 1,312,839,230 shares and 10,000,000,000 shares authorized as of December 31, 2017 and 2018, respectively; 49,318,860 shares issued and outstanding as of December 31, 2017; 839,850,038 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2018)	84	575	30
Additional paid-in capital	1,889,496	12,967,986
Accumulated other comprehensive income	12,539	86,061	76,607
Accumulated deficit	(1,556,197)	(10,680,489)	(8,207,801)
Total UXIN LIMITED shareholders' (deficit)/equity	345,922	2,374,133	(8,131,164)
Non controlling interests	(362)	(2,490)	(50,461)
Total shareholders' (deficit)/equity	345,560	2,371,643	(8,181,625)
Total liabilities, mezzanine equity and shareholders' equity	$ 1,070,840	¥ 7,349,390	5,298,913
Series A convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			94,411
Total Mezzanine equity			94,411,209
Series A-1 convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			69,193
Total Mezzanine equity			69,193,372
Series B convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			180,294
Total Mezzanine equity			180,293,845
Series C convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			408,559
Total Mezzanine equity			408,558,925
Series D convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			1,703,667
Total Mezzanine equity			1,703,667,099
Series E convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			1,146,351
Total Mezzanine equity			1,146,350,895
Series F convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			1,563,657
Total Mezzanine equity			1,563,656,740
Series G convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			3,214,932
Total Mezzanine equity			¥ 3,214,932,302

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2018CNY (¥)shares	Dec. 31, 2017CNY (¥)shares
Current liabilities	¥ 4,461,445	¥ 4,340,314
Ordinary shares, shares authorized (in shares)	10,000,000,000	1,312,839,230
Ordinary shares, shares issued (in shares)	880,659,899	49,318,860
Ordinary shares, shares outstanding (in shares)	880,659,899	49,318,860
Consolidated VIEs and VIEs' subsidiaries without recourse to the primary beneficiary
Current liabilities | ¥	¥ 261,226	¥ 407,809
Series A convertible redeemable preferred shares
Convertible redeemable preferred shares, shares authorized (in shares)		50,000,000
Convertible redeemable preferred shares, shares issued (in shares)		50,000,000
Convertible redeemable preferred shares, shares outstanding (in shares)		50,000,000
Series A-1 convertible redeemable preferred shares
Convertible redeemable preferred shares, shares authorized (in shares)		4,910,890
Convertible redeemable preferred shares, shares issued (in shares)		4,910,890
Convertible redeemable preferred shares, shares outstanding (in shares)		4,910,890
Series B convertible redeemable preferred shares
Convertible redeemable preferred shares, shares authorized (in shares)		70,602,630
Convertible redeemable preferred shares, shares issued (in shares)		70,602,630
Convertible redeemable preferred shares, shares outstanding (in shares)		70,602,630
Series C convertible redeemable preferred shares
Convertible redeemable preferred shares, shares authorized (in shares)		97,267,680
Convertible redeemable preferred shares, shares issued (in shares)		97,267,680
Convertible redeemable preferred shares, shares outstanding (in shares)		97,267,680
Series D convertible redeemable preferred shares
Convertible redeemable preferred shares, shares authorized (in shares)		159,355,150
Convertible redeemable preferred shares, shares issued (in shares)		159,355,150
Convertible redeemable preferred shares, shares outstanding (in shares)		159,355,150
Series E convertible redeemable preferred shares
Convertible redeemable preferred shares, shares authorized (in shares)		89,477,490
Convertible redeemable preferred shares, shares issued (in shares)		89,477,490
Convertible redeemable preferred shares, shares outstanding (in shares)		89,477,490
Series F convertible redeemable preferred shares
Convertible redeemable preferred shares, shares authorized (in shares)		85,162,200
Convertible redeemable preferred shares, shares issued (in shares)		85,162,200
Convertible redeemable preferred shares, shares outstanding (in shares)		85,162,200
Series G convertible redeemable preferred shares
Convertible redeemable preferred shares, shares authorized (in shares)		130,384,730
Convertible redeemable preferred shares, shares issued (in shares)		130,384,730
Convertible redeemable preferred shares, shares outstanding (in shares)		130,384,730
Class A ordinary shares
Ordinary shares, shares issued (in shares)	839,850,038
Ordinary shares, shares outstanding (in shares)	839,850,038
Class B ordinary shares
Ordinary shares, shares issued (in shares)	40,809,861
Ordinary shares, shares outstanding (in shares)	40,809,861

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2018CNY (¥)¥ / sharesshares	Dec. 31, 2017CNY (¥)¥ / sharesshares	Dec. 31, 2016CNY (¥)¥ / sharesshares
Revenues:
Total Revenues	$ 483,075	¥ 3,315,449	¥ 1,951,372	¥ 824,501
Cost of revenues	(165,957)	(1,138,995)	(747,788)	(533,371)
Gross profit	317,118	2,176,454	1,203,584	291,130
Operating expenses:
Sales and marketing	(391,502)	(2,686,956)	(2,203,139)	(793,521)
Research and development	(47,999)	(329,430)	(226,010)	(167,791)
General and administrative	(251,204)	(1,724,060)	(599,905)	(583,697)
Gains/(losses) from guarantee liability	(281)	(1,931)	2,284	1,983
Total operating expenses	(690,986)	(4,742,377)	(3,026,770)	(1,543,026)
Loss from operations	(373,868)	(2,565,923)	(1,823,186)	(1,251,896)
Interest (income)/expense, net	(17,550)	(120,453)	(30,183)	677
Other expenses, net	(2,450)	(16,813)	(12,112)	(16,127)
Foreign exchange gains/(losses)	(1,199)	(8,232)	477	1,918
Fair value change of derivative liabilities	172,673	1,185,090	(885,821)	(116,056)
Loss before income tax expense	(222,394)	(1,526,331)	(2,750,825)	(1,381,484)
Income tax expense	(2,125)	(14,585)	(570)	(1,805)
Equity in (loss)/income of affiliates	383	2,631	3,597	(9,637)
Net loss	(224,136)	(1,538,285)	(2,747,798)	(1,392,926)
Less: net loss attributable to non controlling interests shareholders	(2,298)	(15,771)	(25,202)	(35,181)
Net loss attributable to UXIN LIMITED	(221,838)	(1,522,514)	(2,722,596)	(1,357,745)
Accretion on redeemable preferred shares	(46,473)	(318,951)	(555,824)	(421,346)
Deemed contribution from preferred shareholders				3,428
Deemed dividend to preferred shareholders	(79,376)	(544,773)	(587,564)
Deemed dividend from preferred Shareholders			92,779
Net loss attributable to ordinary shareholders	(347,687)	(2,386,238)	(3,773,205)	(1,775,663)
Other comprehensive loss
Foreign currency translation	702	4,818	43,406	(3,252)
Total comprehensive loss	(223,434)	(1,533,467)	(2,704,392)	(1,396,178)
Less: total comprehensive loss attributable to non controlling interests shareholders	(3,258)	(22,359)	(27,861)	(31,438)
Total comprehensive loss attributable to UXIN LIMITED	(220,176)	(1,511,108)	(2,676,531)	(1,364,740)
Net loss attributable to ordinary shareholders	$ (347,687)	¥ (2,386,238)	¥ (3,773,205)	¥ (1,775,663)
Weighted average number of ordinary shares used in computing net loss per share, basic and diluted (in shares) | shares	477,848,763	477,848,763	49,318,860	49,174,850,000
Net loss per share attributable to ordinary shareholders
Basic (in dollars per share) | (per share)	$ (0.73)	¥ (4.99)	¥ (76.51)	¥ (36.11)
Diluted (in dollars per share) | (per share)	$ (0.73)	¥ (4.99)	¥ (76.51)	¥ (36.11)
Consumers ("2C") - Intra regional - Transaction facilitation revenue
Revenues:
Total Revenues	$ 70,092	¥ 481,055	¥ 230,250	¥ 81,807
Consumers ("2C") - Intra regional - Loan facilitation revenue
Revenues:
Total Revenues	227,972	1,564,620	944,406	314,172
Consumers ("2C") - Cross regional - Transaction facilitation revenue
Revenues:
Total Revenues	23,936	164,280
To consumers ("2C") - Cross regional - Loan facilitation revenue
Revenues:
Total Revenues	30,517	209,445
Businesses ("2B"), Transaction facilitation revenue
Revenues:
Total Revenues	88,384	606,599	519,276	293,224
Others
Revenues:
Total Revenues	$ 42,174	¥ 289,450	¥ 257,440	¥ 135,298

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICIT)/EQUITY ¥ in Thousands, $ in Thousands	Total UXIN LIMITED shareholders' deficitInitial public offeringCNY (¥)	Total UXIN LIMITED shareholders' deficitShare swap feature of redeemable non-controlling interestsFairlubo Auction Company LimitedCNY (¥)	Total UXIN LIMITED shareholders' deficitCNY (¥)	Ordinary shareInitial public offeringCNY (¥)shares	Ordinary shareShare swap feature of redeemable non-controlling interestsFairlubo Auction Company LimitedCNY (¥)shares	Ordinary shareCNY (¥)shares	Additional paid-in capitalInitial public offeringCNY (¥)	Additional paid-in capitalShare swap feature of redeemable non-controlling interestsFairlubo Auction Company LimitedCNY (¥)	Additional paid-in capitalCNY (¥)	Accumulated other comprehensive incomeShare swap feature of redeemable non-controlling interestsFairlubo Auction Company LimitedCNY (¥)	Accumulated other comprehensive incomeCNY (¥)	Accumulated deficitCNY (¥)	Non-controlling interestShare swap feature of redeemable non-controlling interestsFairlubo Auction Company LimitedCNY (¥)	Non-controlling interestCNY (¥)	Initial public offeringCNY (¥)	Share swap feature of redeemable non-controlling interestsFairlubo Auction Company LimitedCNY (¥)	USD ($)shares	CNY (¥)shares
Balance at Dec. 31, 2015			¥ (2,576,261)			¥ 35					¥ 37,537	¥ (2,613,833)		¥ 19,347				¥ (2,556,914)
Balance (in shares) at Dec. 31, 2015 | shares						57,411,630
Changes in equity
Foreign currency translation adjustments			(6,995)								(6,995)			3,743				(3,252)
Net loss			(1,357,745)									(1,357,745)		(35,181)				(1,392,926)
Repurchase of ordinary shares			(299,284)			¥ (18)						(299,266)						(299,284)
Repurchase of ordinary shares (in shares) | shares						(28,078,290)
Share-based compensation			226,442			¥ 13			¥ 226,429									226,442
Share-based compensation (in shares) | shares						19,985,520
Accretion on preferred shares to redemption value			(421,346)						(229,857)			(191,489)						(421,346)
Deemed contribution from preferred shareholders			3,428						3,428									3,428
Balance at Dec. 31, 2016			(4,431,761)			¥ 30					30,542	(4,462,333)		(12,091)				(4,443,852)
Balance (in shares) at Dec. 31, 2016 | shares						49,318,860
Changes in equity
Foreign currency translation adjustments			46,065								46,065			(2,659)				43,406
Net loss			(2,722,596)									(2,722,596)		(25,202)				(2,747,798)
Share-based compensation			165,873						165,873									165,873
Transaction with non-controlling interests			(45,357)									(45,357)		(18,851)				(64,208)
Accretion on preferred shares to redemption value			(555,824)						(73,094)			(482,730)						(555,824)
Noncontrolling interests arising from business combination (Note 3)														8,342				8,342
Deemed dividend to preferred shareholders			(587,564)									(587,564)						(587,564)
Deemed dividend from preferred shareholders (Note 25)									(92,779)			92,779						92,779
Balance at Dec. 31, 2017			(8,131,164)			¥ 30					76,607	(8,207,801)		(50,461)				¥ (8,181,625)
Balance (in shares) at Dec. 31, 2017 | shares						49,318,860											49,318,860	49,318,860
Changes in equity
Foreign currency translation adjustments			11,407								11,407			(6,589)			$ 702	¥ 4,818
Net loss			(1,522,514)									(1,522,514)		(15,771)			(224,136)	(1,538,285)
Share-based compensation			151,274						151,274									151,274
Issuance of restricted shares to Mr. Kun Dai			620,446			¥ 11			620,435									620,446
Issuance of restricted shares to Mr. Kun Dai (in shares) | shares						17,742,890
Issuance of ordinary shares due to exercise of the share option			286,681			¥ 5			286,676									286,681
Issuance of ordinary shares due to exercise of the share option (in shares) | shares						8,479,505
Conversion of redeemable preferred shares (Note 25)			11,013,180			¥ 486			11,012,694									11,013,180
Conversion of redeemable preferred shares (Note 25) (in shares) | shares						743,343,820
Transaction with non-controlling interests			(182)						(182)					(4,819)				(5,001)
Accretion on preferred shares to redemption value			(318,951)						(38,582)			(280,369)					(46,473)	(318,951)
Deemed dividend to preferred shareholders			(544,773)									(544,773)					(79,376)	(544,773)
Issuance of ordinary shares	¥ 1,342,881	¥ 159,350		¥ 50	¥ 9		¥ 1,342,831	¥ 161,294		¥ (1,953)			¥ 74,561		¥ 1,342,881	¥ 233,911
Issuance of ordinary shares (in shares) | shares				75,000,000	13,026,713
Repurchase of the surrender shares (Note 24)			(698,680)			¥ (16)			(573,600)			(125,064)						(698,680)
Repurchase of the surrender shares (Note 24) (in shares) | shares						(26,251,889)
40,809,861 ordinary shares were redesignated to Class B ordinary shares with super voting power granted to Mr. Kun Dai (Note 26)			5,178						5,146			32		589				5,767
Balance at Dec. 31, 2018			¥ 2,374,133			¥ 575			¥ 12,967,986		¥ 86,061	¥ (10,680,489)		¥ (2,490)			$ 345,560	¥ 2,371,643
Balance (in shares) at Dec. 31, 2018 | shares						880,659,899											880,659,899	880,659,899

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICIT)/EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Jun. 01, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICIT)/EQUITY
Ordinary shares, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Ordinary shares redesignated to Class B ordinary shares	40,809,861

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Cash flows from operating activities:
Net loss	$ (224,136)	¥ (1,538,285)	¥ (2,747,798)	¥ (1,392,926)
Adjustments to reconcile net loss to net cash generated from operating activities:
Shared-based compensation	153,286	1,052,032	165,873	226,429
Compensation expense to previous shareholders				41,129
Depreciation of property, equipment and software	12,939	88,803	68,185	49,316
Amortization of intangible assets	819	5,619	3,678	3,187
Loss from disposal of property, equipment and software	42	290	1,542	5,517
Equity in loss/(income) of affiliates	(383)	(2,631)	(3,597)	9,637
(Gains)/losses from guarantee liability	281	1,931	(2,284)	(1,983)
Accrual of allowance for doubtful accounts	2,871	19,703	1,604	269
Deferred income tax liabilities	(161)	(1,107)	(620)	(620)
Fair value change of derivative liabilities	(172,673)	(1,185,090)	885,821	116,056
Goodwill impairment	535	3,670
Changes in operating assets and liabilities:
Receivables, prepaid expenses and other current assets	(86,736)	(595,277)	(222,391)	(58,987)
Advance to consumers on behalf of financing partners	44,514	305,509	(796,278)	70,993
Loan recognized as a result of payment under the guarantee	(53,687)	(368,467)	(440,417)	(14,443)
Advance to sellers	(65,046)	(446,427)	(200,513)	55,280
Financial lease receivables	20,620	141,517	(26,832)	(347,326)
Inventory	8,533	58,561	(67,252)	(4,345)
Payables, accruals and other current liabilities	95,332	654,281	911,639	170,203
Deposit of interests from consumers and payable to financing partners	(82,108)	(563,527)	628,889	400,642
Deferred revenue	12,758	87,562	6,508	10,762
Net cash used in operating activities	(332,400)	(2,281,333)	(1,834,243)	(661,210)
Cash flows from investing activities:
Proceeds from disposal of property, equipment and software	1,127	7,735	885	11,481
Purchase of property, equipment and software	(19,511)	(133,907)	(81,211)	(94,923)
Cash paid for long term investments	(27,604)	(189,450)	(152,723)	(11,423)
Cash paid for acquisition, net of cash acquired	(9,665)	(66,339)	(3,575)
Proceeds from disposal of long term investments			5,048	150
Increase in restricted cash	(57,670)	(395,800)	(911,376)	(566,742)
Decrease/(increase) in short-term investments	(86,706)	(595,078)	96,118	670,798
Loan extended to a related party	(14,800)	(101,578)	(451,385)
Net cash generated from/(used in) investing activities	(214,829)	(1,474,417)	(1,498,219)	9,341
Cash flows from financing activities:
Proceeds from borrowings	176,219	1,209,431	800,887	193,828
Net proceeds from issuance of convertible redeemable preferred shares	243,969	1,674,408	2,721,065	162,209
Repayment of borrowings	(172,485)	(1,183,797)	(204,068)	(182,994)
Repurchase of ordinary shares				(306,044)
Acquisition of noncontrolling interest in a subsidiary			(29,042)
Net proceeds from initial public offering and issuance of convertible note	375,045	2,574,010
Net cash (used in)/generated from financing activities	622,748	4,274,052	3,288,842	(133,001)
Effect of exchange rate changes on cash and cash equivalents	(1,352)	(9,278)	3,334	6,464
Net (decrease)/increase in cash and cash equivalents	74,167	509,024	(40,286)	(778,406)
Cash and cash equivalents at beginning of the year	42,542	291,973	332,259	1,110,665
Cash and cash equivalents at end of the year	116,709	800,997	291,973	332,259
Supplemental disclosure of cash flow information
Cash paid for income tax	667	4,575	6,429	261
Cash paid for interest	4,679	32,113	6,386	3,508
Supplemental schedule of noncash investing and financing activities
Accretion on redeemable preferred shares	46,473	318,951	555,824	421,346
Deemed contribution from preferred shareholders				¥ 3,428
Deemed dividend to preferred shareholders	79,376	544,773	587,564
Deemed dividend from preferred Shareholders			¥ 92,779
Repurchase of the surrender shares	$ 108,733	¥ 746,253

PRINCIPAL ACTIVITIES AND ORGANI

PRINCIPAL ACTIVITIES AND ORGANIZATION	12 Months Ended
	Dec. 31, 2018
PRINCIPAL ACTIVITIES AND ORGANIZATION
PRINCIPAL ACTIVITIES AND ORGANIZATION	1. PRINCIPAL ACTIVITIES AND ORGANIZATION The accompanying consolidated financial statements include the financial statements of Uxin Limited (the “Company” or “Uxin”), its subsidiaries and variable interest entities (“VIEs”). The Company, its subsidiaries and the consolidated VIEs are collectively referred to as the “Group”. The Company was incorporated under the law of the Cayman Islands as the exempted limited liability company on December 8, 2011. The Company serves as an investment holding company and currently has no operations of its own. The Group primarily engages in operating used car e‑commerce platforms through its mobile applications (Uxin Used Car / Uxin Auction) and websites (www.xin.com / www.youxinpai.com), facilitating used car transaction services (2B / 2C) and facilitating financing solutions offered by third‑party financing partners to buyers for their used car purchases (2C). The Group’s principal operation and geographic market is in the People’s Republic of China (“PRC”). In 2016, the Group spun off its 2B business through a transfer of the equity interest of Youxinpai (Beijing) Information Technology Co., Ltd.(“Youxinpai”), a subsidiary of the Company, to a series of shareholders, which represented the same offshore shareholders of the Company, i.e. same shareholders with their respective onshore and offshore entities. In 2017, the Company made its strategic decision for the existing shareholders of Youxinpai to transfer 100% equity interest in Youxinpai to the Company (referred to as “the Reorganization”). On June 27, 2018, the Company completed its IPO on NASDAQ Global Select Market under the symbol “UXIN”. The Company offered 25,000,000 American Depositary Shares (“ADS”). Each ADS represents three ordinary share and was sold to the public at US$9.00 per ADS. Also, the Company entered into Convertible Note Purchase Agreements with CNCB (Hong Kong) Investment Limited (the “CNCB (Hong Kong)”) and Golden Fortune Company Limited (the “Golden Fortune”) concurrently with the closing of IPO. Net proceeds raised by the Company from the IPO and private placement in total amounted to approximately US$382.1 million (equivalent to RMB 2.6 billion) after deducting underwriting discounts commissions and other offering expenses. As of December 31, 2018, the Company’s principal subsidiaries and consolidated VIEs are as follows: Date of Percentage of Place of incorporation or direct or Principal Subsidiaries incorporation acquisition indirect activities Youxinpai (Beijing) Information Technology Co., Ltd. Beijing June 15, 2012 100 % Used car auction Youhan (Shanghai) Information Technology Co., Ltd. Shanghai December 25, 2015 100 % Used car auction Kai Feng Finance Lease (Hangzhou) Co., Ltd. Hangzhou March 25, 2013 100 % Loan facilitation Bo Yu Finance Lease (Tianjin) Co., Ltd. Tianjin March 6, 2015 100 % Loan facilitation Yougu (Shanghai) Information Technology Co., Ltd. Shanghai March 13, 2015 100 % Transaction service Youzhen (Beijing) Business Consulting Co., Ltd. Beijing March 28, 2016 100 % Transaction service Youxin (Shanghai) Second Hand Car Business Co., Ltd. Shanghai January 26, 2016 100 % Transaction service Beijing Youxin Fengshun Lubao Vehicle* Auction Co., Ltd. Beijing March 13, 2015 94.94 % Salvage car auction Youxin (Shanxi) Technology Information Co., Ltd. Xi’an April 27, 2018 % Transaction service As of December 31, 2018, the Company’s principal subsidiaries and consolidated VIEs are as follows: Date of Percentage VIEs Place of incorporation or of direct Principal Subsidiaries incorporation acquisition or indirect activities Youxin Internet (Beijing) Information Technology Co., Ltd. Beijing August 11, 2011 99.99 % Auction platform Beijing Fengshun Lubao* Automotive Auction Co., Ltd. Beijing June 10, 2011 94.94 % Salvage car auction Youxin Yishouche (Beijing) Information Technology Co., Ltd. Beijing March 12, 2015 99.99 % Transaction service *

PRINCIPAL ACCOUNTING POLICIES

PRINCIPAL ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
PRINCIPAL ACCOUNTING POLICIES
PRINCIPAL ACCOUNTING POLICIES	2. PRINCIPAL ACCOUNTING POLICIES 2.1 Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Significant accounting policies followed by the Group in the preparation of its accompanying consolidated financial statements are summarized below. 2.2 Basis of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIEs and VIEs’ subsidiaries. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power; has the power to appoint or remove the majority of the members of the board of directors; to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. The Company applies the guidance codified in Accounting Standard Codification 810, Consolidations (“ASC 810”) on accounting for VIEs and their respective subsidiaries, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entity in which it has a controlling financial interest. A VIE is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support; (b) as a group, the holders of the equity investment at risk lack the ability to make certain decisions, the obligation to absorb expected losses or the right to receive expected residual returns, or (c) an equity investor has voting rights that are disproportionate to its economic interest and substantially all of the entity’s activities are on behalf of the investor. All transactions and balances between the Company, its subsidiaries, VIEs and VIEs’ subsidiaries have been eliminated upon consolidation. Variable interest entities In order to comply with PRC regulatory requirements restricting foreign ownership of internet information services under value‑added telecommunications services and certain other businesses in China, the Company operates online platforms that provide internet information services and engages in other foreign‑ownership‑restricted businesses through certain PRC domestic companies, whose equity interests are held by certain management members of the Company (“Nominee Shareholders”). The Company obtained control over these PRC domestic companies by entering into a series of Contractual Arrangements with these PRC domestic companies and their respective Nominee Shareholders. These contractual agreements cannot be terminated by the Nominee Shareholders or the PRC domestic companies. As a result, the Company which maintains the ability to control these PRC domestic companies is entitled to substantially all of the economic benefits from these PRC domestic companies and is obligated to absorb expected losses of these PRC domestic companies. Management concluded that these PRC domestic companies are VIEs of the Company, of which the Company is the ultimate primary beneficiary. As such, the Group consolidated financial results of these PRC domestic companies and their subsidiaries. The principal terms of the agreements entered into amongst the VIEs, their respective shareholders and the Group’s subsidiaries (“Primary Beneficiaries”) are further described below. The Company primarily operated 2B and 2C online platforms through one of the VIEs, Youxin Hulian via the contractual agreements. In January 2015, the MIIT eliminates the restrictions on foreign ownership in the SHFTZ Notice for enterprises in Shanghai Pilot Free Trade Zone that provide online data processing and transaction processing services (operating E‑commerce) under value‑added telecommunications services. Certain of our eligible WFOE and subsidiary of WFOE, Yougu and Youhan, have applied for and obtained the VATS Licenses to conduct E‑commerce in 2015 and 2016, and they have been operating our 2B and 2C online platforms since then. Currently, Youxin Hulian, Yishouche and Fengshun Lubao hold the VATS Licenses for internet information services to operate other online platforms of the Company and they may hold equity interests of subsidiaries conducting business that are restricted with foreign ownership. Loan Agreements Pursuant to the relevant loan agreements, the Group’s relevant PRC subsidiary has granted interest‑free loans to the relevant Nominee Shareholders of the relevant VIE with the sole purpose of providing funds necessary for the capital injection to the relevant VIEs. Only the Group’s relevant PRC subsidiary can require the Nominee Shareholder to settle the loan amount with the equity interests of relevant VIEs, subject to any applicable PRC laws, rules and regulations. And both parties have agreed that any proceeds from sale of the Nominee Shareholder’s equity interest in relevant VIE should be repaid to the Group’s relevant PRC subsidiary. The terms of the loan agreements are ten years and can be extended with the written consent of both parties before its expiration. Exclusive option agreements The Nominee Shareholders of the VIEs have granted the Group’s relevant PRC subsidiaries the exclusive and irrevocable right to purchase or to designate one or more person(s) at their discretion to purchase part or all of the equity interests in the VIEs from the Nominee Shareholders for a purchase price at any time, subject to the lowest price permitted by PRC laws and regulations. The VIEs and their Nominee Shareholders have agreed that without prior written consent of the Group’s relevant PRC subsidiaries, their respective Nominee Shareholders cannot sell, transfer, pledge or dispose their equity interests, and the VIEs cannot sell, transfer, pledge or dispose, but not limit to the equity interest, significant assets, significant revenue and significant business. Also as agreed, the VIEs cannot declare any dividend or change capitalization structure of the VIEs and cannot enter into any loan or investment agreements. Furthermore, the Nominee Shareholders have agreed that any proceeds but not limited to the sales of the Nominee Shareholders’ equity interest in relevant VIEs should be gratuitously paid to the Group’s relevant PRC subsidiaries or one or more person(s) at their discretion. Power of attorney Pursuant to the irrevocable power of attorney, each of the Nominee Shareholders appointed the Group’s relevant PRC subsidiaries as their attorney‑in‑fact to exercise all shareholder rights under PRC law and the relevant articles of association, including but not limited to, attending shareholders meetings, voting on their behalf on all matters requiring shareholder approval, including but not limited to sale, transfer, pledge, or disposition of all or part of the Nominee Shareholders’ equity interests, and designation and appointing the legal representative, directors, supervisors, chief executive officer and other senior management members of the VIEs. Each power of attorney will remain in force during the period when the Nominee Shareholders continue to be shareholders of the VIEs. Each Nominee Shareholder has waived all the rights which have been authorized to the person designated by the Group’s relevant PRC subsidiaries under each power of attorney. Exclusive business cooperation agreement Pursuant to the exclusive business cooperation agreement, the Group’s relevant PRC subsidiaries have agreed to provide to the VIEs services, including, but not limited to, development, maintenance and update software, design, installation, daily management, maintenance and updating of the network system, hardware and database design, marketing. The VIEs shall pay to the Group’s relevant PRC subsidiaries service fees determined based on the complexity and difficulty of the services, title of and time consumed by employees, contents and value of the services, operation conditions and market price of the service provided. The agreement shall remain in full force and effect unless terminated in accordance with the provisions of this Agreement or terminated in writing by the Group’s relevant PRC subsidiaries. Equity pledge agreements Pursuant to the relevant equity pledge agreements, the Nominee Shareholders of the VIEs have pledged all of their equity interests in relevant VIEs to the Group’s relevant PRC subsidiaries as collateral for all of their to direct, indirect and derivate losses and anticipated profits of the PRC subsidiaries incurred in the event of default and to secure their obligations under the above agreements. The relevant PRC subsidiaries are entitled to have any dividends based on the pledged equity interest in relevant VIEs. The Nominee Shareholders may not transfer or assign the equity interests, the rights and obligations in the equity pledge agreements and may not create or permit to create any pledges which may have an adverse effect on the rights or benefits of the Group’s relevant PRC subsidiaries without the Group’s relevant PRC subsidiaries’ pre‑approval. In addition, the Group’s relevant PRC subsidiaries are entitled to purchase at a discount, auction or sell the equity interests pledged and have priority to obtain the proceeds from above auctions or sales, if an event of default happens. The equity pledge agreements will expire only when the Nominee Shareholders have completed all their obligations under the above agreements. Risks in relation to the VIE structure In the opinion of the Company’s legal counsel, (i) the ownership structure relating to the VIEs of the Company is in compliance with existing PRC laws and regulations; and (ii) the contractual arrangements with the VIEs and their Nominee Shareholders are valid, binding and enforceable, and will not result in any violation of PRC laws or regulations currently in effect. However, uncertainties in the interpretation and application of current and future PRC laws, regulations and rules could cause the Company’s current ownership structure to be found in violation of any existing or future PRC laws or regulations and could limit the Company’s ability, through the Primary Beneficiaries, to enforce its rights under these contractual arrangements. Furthermore, Nominee Shareholders of the VIEs may have interests that are different with those of the Company, which could potentially increase the risk that they would seek to act in contrary to the terms of the aforementioned agreements. In addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future PRC law, the Company may be subject to penalties, which may include but not be limited to, the cancellation or revocation of the Company’s business and operating licenses, being required to restructure the Company’s operations or discontinue the Company’s operating activities. The imposition of any of these or other penalties may result in a material and adverse effect on the Company’s ability to conduct its operations. In such case, the Company may not be able to operate or control the VIEs, which may result in deconsolidation of the VIEs. In January 2015, the Ministry of Commerce (“MOFCOM”), released for public comment a proposed PRC law, the Draft Foreign Investment Enterprises (“FIE”) Law, that appears to include VIEs within the scope of entities that could be considered to be FIEs, that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. Specifically, the Draft FIE Law introduces the concept of “actual control” for determining whether an entity is considered to be an FIE. In addition to control through direct or indirect ownership or equity, the Draft FIE Law includes control through contractual arrangements within the definition of “actual control”. If the Draft FIE Law is passed by the People’s Congress of the PRC and goes into effect in its current form, these provisions regarding control through contractual arrangements could be construed to include the Group’s contractual arrangements with its VIEs, and as a result, the Group’s VIEs could become explicitly subject to the current restrictions on foreign investment in certain categories of industry. The Draft FIE Law includes provisions that would exempt from the definition of FIEs where the ultimate controlling shareholders are either entities organized under PRC law or individuals who are PRC citizens. The Draft FIE Law is silent as to what type of enforcement action might be taken against existing VIE, that operates in restricted or prohibited industries and is not controlled by entities organized under PRC law or individuals who are PRC citizens. If the restrictions and prohibitions on FIEs included in the Draft FIE Law are enacted and enforced in their current form, the Group’s ability to use the contractual arrangements with its VIEs and the Group’s ability to conduct business through the VIEs could be severely limited. There are, however, substantial uncertainties regarding the interpretation and application of current or future PRC laws and regulations. Accordingly, the Company cannot be assured that the PRC government authorities will not ultimately take a view that is contrary to the Company’s belief and the opinion of its PRC legal counsel. In March 2019, the draft Foreign Investment Law was submitted to the National People’s Congress for review and was approved on March 15, 2019, which will come into effect from January 1, 2020. The approved Foreign Investment Law does not touch upon the relevant concepts and regulatory regimes that were historically suggested for the regulation of VIE structures, and thus this regulatory topic remains unclear under the Foreign Investment Law. Since the Foreign Investment Law is new, there are substantial uncertainties exist with respect to its implementation and interpretation and the possibility that such entities will be deemed as foreign-invested enterprise and subject to relevant restrictions in the future shall not be excluded. If the contractual arrangements establishing the Company’s VIE structure are found to be in violation of any existing law and regulations or future PRC laws and regulations, the relevant PRC government authorities will have broad discretion in dealing with such violation, including, without limitation, levying fines, confiscating income or the income of affiliated Chinese entities, revoking business licenses or the business licenses of affiliated Chinese entities, requiring affiliated Chinese entities to restructure ownership structure or operations and requiring affiliated Chinese entities to discontinue any portion or all of value-added telecommunications, E-commerce and internet information services. Any of these actions could cause significant disruption to the Company’s business operations, and have a severe adverse impact on the Company’s cash flows, financial position and operating performance. If the imposing of these penalties cause the Company to lose its rights to direct the activities of and receive economic benefits from its VIEs, which in turn may restrict the Company’s ability to consolidate and reflect in its financial statements the financial position and results of operations of its VIEs. Pursuant to the contractual arrangements with the VIEs, the Company has the power to direct activities of the VIEs, and can have assets transferred freely out of the VIEs without any restrictions. Therefore, the Company considers there to be no assets of a consolidated VIE that can be used only to settle obligations of the VIE, except for registered capital of the VIEs amounting to a total of RMB134.4 million as of December 31, 2017 and RMB144.2 million as of December 31, 2018. As all the consolidated VIEs are incorporated as limited liability companies under the PRC Company Law, creditors of the VIEs do not have recourse to the general credit of the Company for any of the liabilities of the consolidated VIEs. The following table sets forth the assets, liabilities and results of operations and cash flows of the VIEs and their subsidiaries taken as a whole, which are included in the Group’s consolidated financial statements. Transactions between the VIEs and their subsidiaries are eliminated in the balances presented below: December 31, December 31, 2017 2018 RMB RMB Cash and cash equivalents 105,680 67,940 Amounts due from related parties 148,714 165,940 Accounts receivable 6,884 6,957 Other receivables, net 63,832 95,297 Inventory 71,248 2,120 Prepaid expense and other current assets 64,978 22,364 Long-term investments 25,421 27,427 Property, equipment and software, net 12,835 12,436 Intangible assets, net 2,703 17,295 Goodwill — 38,246 Total assets 502,295 456,022 Accounts payable 4,864 7,379 Amounts due to related parties 727,917 914,109 Current portion of long-term borrowings — 281 Deferred tax liability — 3,725 Other payables and accruals 402,945 249,841 Total liabilities 1,135,726 1,175,335 Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Total revenues 103,830 244,830 416,578 Cost of revenues (36,788) (130,099) (156,093) Net loss (9,253) (603,030) (85,882) Net cash generated from/(used in) operating activities 155,589 (584,072) (51,713) Net cash used in investing activities (17,037) (5,529) (67,516) Net cash (used in)/generated from financing activities (62,410) 604,314 81,489 Net increase/(decrease) in cash and cash equivalents 76,142 14,713 (37,740) Cash and cash equivalents at beginning of year 14,825 90,967 105,680 Cash and cash equivalents at end of year 105,680 67,940 2.3 Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets, long‑lived assets and liabilities at the dates of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. On an ongoing basis, the Company’s management reviews these estimates based on information that is currently available. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the Group’s consolidated financial statements include, but are not limited to, the allowance for finance lease receivables, useful lives of property, equipment and software, amortization period of intangible assets, financial derivatives, guarantee liability, business combination, goodwill impairment and forfeiture rate of share‑based compensation. 2.4 Fair value measurements Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value: Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets Level 2 — Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data Level 3 — Unobservable inputs which are supported by little or no market activity Financial instruments of the Company primarily comprise of cash equivalents, short‑term investment, accounts receivable, finance lease receivables, short‑term borrowings, accounts payable, derivative liabilities, guarantee liabilities and deposit of interests collected from customers and payable to financing partners. As of December 31, 2017 and 2018, their carrying values approximated their fair values because of their generally short maturities. The fair value of the guarantee liabilities recorded at the inception of the loan was estimated based on the third‑party appraisal’s report. 2.5 Foreign currencies The Group uses Renminbi (“RMB”) as its reporting currency. The USD (“US$”) is the functional currency of the Group’s entities incorporated in Cayman Islands, British Virgin Islands and Hong Kong, and the RMB is the functional currency of the Group’s PRC subsidiaries. Transactions denominated in other than the functional currencies are translated into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in other than the functional currency are translated at the balance sheet date exchange rate. The resulting exchange differences are recorded in the Consolidated Statements of Comprehensive Loss. The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses are translated at the average exchange rates prevailing for the year. Foreign currency translation adjustments arising from these are reflected in the accumulated other comprehensive income. The exchange rates used for translation on at the end of the year of 2017 and 2018 were US$1.00=RMB 6.5342 and RMB 6.8632, respectively, representing the index rates stipulated by the People’s Bank of China. Transactions of the Consolidated Balance Sheets, the Consolidated Statements of Comprehensive Loss and the Consolidated Statements of Cash Flows from RMB into US$ as of and for the year ended December 31, 2018 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.8632, representing the index rates stipulated by the People’s Bank of China. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2018, or at any other rate. 2.6 Cash and cash equivalents Cash includes currency on hand and deposits held by financial institutions that can be added to or withdrawn without limitation. Cash equivalents represent short‑term, highly liquid investments that are readily convertible to known amount of cash and with original maturities from the date of purchase of generally three months or less. 2.7 Restricted cash and short‑term investment Cash restricted as to withdrawal or for use or pledged as security is reported separately on the face of the Consolidated Balance Sheets, and is not included in the total cash and cash equivalents in the Consolidated Statements of Cash Flows. In the ordinary course of business, the third‑party financing partners offer financing solutions to buyers (the “Borrowers”) and the Company is required to provide a guarantee (Note 2.12 guarantee liabilities). As a result, the Company, as the guarantor, is required to maintain a separate guarantee fund, held as an escrow account with the third‑party financing partners. This guarantee fund is required to be maintained at a fixed percentage of the balance of all loans outstanding. As of December 31, 2017 and 2018, the restricted cash in relation to Guarantee represented 9.6% and 7.5% of the outstanding facilitated loan balance, respectively. Short‑term investments are mainly comprised of time deposits and investment products placed with banks with original maturities longer than three months but less than one year. 2.8 Inventory Inventories comprise of new cars, GPS devices, auto check equipments and others. Inventories are valued at the lower of cost or market. Cost of inventories is determined by the weighted‑average method. Adjustments are recorded to write down the carrying amount of any obsolete and excess inventory to its estimated net realizable value. The Group continually evaluates the recoverability based on assumptions about future customer demand and market conditions. The evaluation may take into consideration inventory aging, expected demand, anticipated sales price, and other factors. The write‑down is equal to the difference between the cost of inventory and the estimated market value based upon assumptions about future customer demand and market conditions. As of December 31, 2017, inventories mainly included GPS devices, auto check equipments and new cars of RMB2.5 million, RMB1.4 million and RMB72.6 million, respectively. As of December 31, 2018, inventories mainly included GPS devices and auto check equipments of RMB8.1 million and RMB1.4 million, respectively. 2.9 Accounts receivable Accounts receivable are recorded at the invoiced amount and do not bear interest. The Group makes credit assessments of customers to assess the collectability of contract amounts prior to entering into contracts. The Group makes specific allowance for doubtful accounts when facts and circumstances indicate that the receivable is unlikely to be collected. The allowance of accounts receivable was nil as of December 31, 2017 and 2018. 2.10 Advance to consumers on behalf of financing partners The Group facilitates loans extended by third‑party financing partners to consumers through its online platform. The Group started to cooperate with third‑party financing partners beginning September 2015. From September 2015, the third‑party financing partners provided all the funds for the consumer loans, while the Group provides services to facilitate such financing transactions. Pursuant to the cooperation agreements entered into with third‑party financing partners, for the purpose of registering the collaterals over the cars purchased by consumers with relevant government authorities, the Group advances the funds needed to purchase the car to the consumer on financing partners’ behalf to the applicable car dealers directly. The balance represents a legal claim of the Group from third‑party financing partners. The third‑party financing partners shall pay the corresponding amount to the Group as agreed in the corporation agreements. As of December 31, 2017 and 2018, the advances to consumers on behalf of financing partners were RMB827.4 million and RMB521.9 million, respectively. 2.11 Financial lease receivables Financial lease receivables include dealer inventory financing receivables and receivables generated from finance lease arrangements. The Group provides short‑term inventory financing to certain selected car dealers. Those car dealers can apply and obtain loans through the Easy Loan program. The Group provides funding to the dealer and may in turn obtain financing from one of our financing partners to fund the Easy Loan program. In order to fund the Easy Loan program, the Group and a third‑party financing partner enter into a financing business cooperation agreement, which establishes that loans provided to dealers are made with direct connection to the financial lease contracts entered into between the Group and the dealers for the underlying cars. Accordingly, the Group is considered as the primary obligor in the lending relationship and therefore records the liabilities to the third‑party financing partner on its Consolidated Balance Sheets. Consequently, the Group considers that the financial lease receivables generated from financial lease contracts with car dealers are not settled or extinguished. Therefore, the Group continues to account for the financial lease receivables on its Consolidated Balance Sheets. The Group started to cooperate with third-party financing partners from September 2015. Before September 2015, the Group entered into finance lease arrangements with consumers who needed financing for car purchases. In late 2018, the Group started to provide funds in the form of financial lease agreements to selected Borrowers in addition to the financing facilitated by the Group for the purchase of the cars. Financial lease receivables are measured at amortized cost and reported on the Consolidated Balance Sheets at outstanding principal adjusted for the allowance for credit losses. Allowance for financial lease receivables is provided when the Group has determined the balance is impaired. 2.12 Guarantee liabilities The third‑party financing partners offer financing solutions to the Borrowers and the Company is required to provide a guarantee in the event of default. The financial guarantee is within the scope of ASC Topic 460, Guarantees. The portion of the contract consideration that relates to ASC 460 must first be allocated to the guarantee, with the residual portion of the transaction price being recorded under ASC Topic 606, “Revenue from Contracts with Customers”. The liability is recognized at fair value at the inception of the guarantee. Subsequent to the initial recognition of the guarantee liability, the Company’s guarantee obligations are measured in a combination of two components: (i) ASC 460 component and (ii) ASC 450 component. The liability recorded based on ASC 460 is determined on a contract‑by‑contract basis and is reduced as the Company is released from the underlying risk, meaning as the loan is repaid by the Borrower or when the financing partners are compensated in the event of a default. The liability is reduced only as the Company is released from the underlying risk. This component is a stand ready obligation which is not subject to the probable threshold used to record a contingent obligation. The other component is a contingent liability determined using historical experience of borrower defaults, representing the obligation to make future payments, measured using the guidance per ASC 450, Contingencies. Subsequent to the initial recognition, the guarantee obligation is measured at the greater of the amount determined per ASC 460 (guarantee liability) and the amount determined based on ASC 450 (contingent liability). As stated in ASC 460‑10‑35‑1, the guarantee liability should generally be reduced by recording a credit to net income as the guarantor is released from the guaranteed risk. Accordingly, the guarantee liability is recognized in “gains from guarantee liability” in the statements of comprehensive loss by a systematic and rational amortization method, e.g. over the term of the loan. As of December 31, 2017 and 2018, the amounts of maximum potential future payments that the Group could be required to make under the guarantee were RMB14.8 billion and RMB27.6 billion, respectively. Based on management assessment, the estimated value of collateral approximated amounts of maximum potential future payments. 2.13 Property, equipment and software, net Property, equipment and software are stated at cost less accumulated depreciation and amortization. Depreciation and amortization is computed using the straight‑line method over the following estimated useful lives, taking into account any estimated residual value: Electronic equipment 3 years Furniture 5 years Vehicles and motors 4 years Software 5 years Leasehold improvement lesser of the term of the lease or the estimated useful lives of the assets The Company recognized the gain or loss on the disposal of property, equipment and software in the Consolidated Statements of Comprehensive Loss. 2.14 Intangible assets, net Intangible assets represent software copyright and supplier relationship acquired. These intangible assets are carried at acquisition cost less accumulated amortization and amortized on a straight line basis over their estimated useful lives of the respective assets, which is usually 5 years. Separately identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. 2.15 Goodwill In accordance with ASC 805 Business Combination, goodwill represents the excess of the purchase consideration over the fair value of assets and liabilities of businesses acquired. Goodwill is not amortized

BUSINESS COMBINATION

BUSINESS COMBINATION	12 Months Ended
	Dec. 31, 2018
BUSINESS COMBINATION
BUSINESS COMBINATION	3. BUSINESS COMBINATION During the year ended December 31, 2017, the Company has completed two business combinations. The results of the acquired entities’ operations have been included in the Company’s consolidated financial statements since their respective dates of acquisition. Acquisition of Beijing Youxin Chefang Automotive Technical Service Co., Ltd. (“Chefang”) Chefang is a company that engages in services related to car maintenance. In order to enhance the service quality to consumers, on October 8, 2015, the Company acquired 26% ordinary equity interests in Chefang with the consideration of RMB10 million. On September 28, 2016, the Company paid RMB10 million with which the acquired ordinary equity interests in Chefang increased to 40.96%. On May 31, 2017, the Company acquired further 10.04% ordinary equity interest in Chefang with the consideration of RMB3 million in cash and obtained the power to control Chefang with the accumulated acquired ordinary equity interests stepped up to 51%. These investments were accounted for under equity method due to significant influence the Group has over Chefang until the control was obtained and the investments were in the form of ordinary shares. The Group recognized a gain of RMB3.9 million upon the acquisition of the remeasurement of previously held equity interests. In the fourth quarter of 2018, the Company acquired further 49% ordinary equity interest in Chefang with the consideration of RMB 2.0 million in cash and controlled Chefang with the accumulated acquired ordinary equity interests stepped up to 100%. The Company completed the valuations necessary to assess the fair values of the tangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the date of acquisition. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the date of acquisition: As of May 31, 2017 RMB Fair value of previously held equity interests 6,973 Purchase consideration to achieve control 3,000 Total purchase consideration 9,973 Cash and cash equivalents 3,659 Accounts receivable, net 57 Other receivables, net 4,439 Inventory 46 Prepaid expense and other current assets 233 Property, equipment and software, net 3,151 Total assets 11,585 Accounts payable (499) Other payables and accruals (523) Total liabilities (1,022) Fair value of net asset acquired 10,563 Non-controlling interests 8,342 Goodwill 7,752 There were no identifiable intangible assets from the acquisition of Chefang. In accordance with ASC 350, goodwill is not amortized but is tested for impairment and is not deductible for tax purposes. RMB 3.7 million goodwill impairment loss was recorded in the year ended 2018. Based on an assessment of Chefang’s financial performance, Chefang was not considered material to the Group. Thus, management concluded that the presentation of pro forma financial information and the revenue and net income of Chefang during the period since the acquisition date was immaterial. Acquisition of Baogu Vehicle Technology Service (Beijing) Co., Ltd. (“Baogu”) In order to enhance the service quality to consumers, in June 2015, the Company acquired 30% ordinary shares of Baogu, a vehicle warranty service provider, and accounted for the investment and equity method. The purchase consideration was RMB12.2 million. In August 2017, the Company acquired the remaining 70% ordinary shares of Baogu with consideration of RMB4 million in cash and obtained the power to control Baogu. The investment in the first 30% of ordinary shares of Baogu was accounted for under equity method due to significant influence the Group had over Baogu until the Group obtained control of Baogu. The Group recognized a gain of RMB1.3 million upon the acquisition of the remeasurement of previously held equity interests. The Company completed the valuations necessary to assess the fair values of the tangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the date of acquisition. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the date of acquisition: As of August 31, 2017 RMB Fair value of previously held equity interests 1,714 Purchase consideration to achieve control 4,000 Fair value of total consideration 5,714 Cash and cash equivalents 307 Accounts receivable, net 12,621 Other receivables, net 7,352 Prepaid expenses and other current assets 4,083 Property, equipment and software, net 107 Total assets 24,470 Accounts payable (280) Deferred revenue (21,959) Other payables and accruals (691) Total liabilities (22,930) Fair value of net assets acquired 1,540 Goodwill 4,174 There was no identifiable intangible assets from the acquisition of Baogu. In accordance with ASC 350, goodwill is not amortized but is tested for impairment and is not deductible for tax purposes. No impairment was identified as of December 31, 2018. Based on an assessment of Baogu’s financial performance, Baogu was not considered material to the Group. Thus, management concluded that the presentation of pro forma financial information and revenue and net income of Baogu during the period since the acquisition date was immaterial. During the year ended December 31, 2018, the Group has completed a business combination. The results of the acquired entity’s operations have been included in the Group’s consolidated financial statements since its respective date of acquisition. Acquisition of Zhejiang Dongwang Internet Technology Co., Ltd. (“Dongwang”) Dongwang is a company that engages in salvage car auction business in Zhejiang province. On June 1, 2018, the Company acquired 100% ordinary equity interests from Dongwang’s founder with cash consideration of RMB 62.99 million and newly-issued Fairlubo ordinary shares of 20,225,145 (par value US$0.0001). The fair value of ordinary shares on June 1, 2018 was US$ 0.0985. The Company conducted the valuations necessary to assess the fair values of the tangible assets acquired and liabilities assumed, resulting from which the amount of goodwill was determined and recognized as of the date of acquisition. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the date of acquisition: As of June 1, 2018 RMB Cash consideration 62,994 Fair value of ordinary shares of Fairlubo (US$0.0001 par value, 20,225,145 shares) 1,993 Total purchase consideration 64,987 Cash and cash equivalents 743 Accounts receivable, net 811 Other receivables, net 36,961 Amount due from related party 21,486 Prepaid expense and other current assets 887 Property, equipment and software, net 3,334 Intangible asset 16,850 Total assets 81,072 Accounts payable (1,792) Other payables and accruals (48,326) Deferred tax liabilities (4,213) Total liabilities (54,331) Fair value of net asset acquired 26,741 Goodwill 38,246 There were identifiable intangible assets from the acquisition of Dongwang, including customer relationship, software license and non-competitive agreements. Those intangible assets were recognized and measured at fair value upon acquisition and amortized over five years. In accordance with ASC 350, goodwill is not amortized but is tested for impairment and is not deductible for tax purposes. No impairment was identified as of December 31, 2018. Based on an assessment of Dongwang’s financial performance, Dongwang was not considered material to the Group. Thus, management concluded that the presentation of pro forma financial information and the revenue and net income of Dongwang during the period since the acquisition date was immaterial.

REDEEMABLE NON-CONTROLLING INTE

REDEEMABLE NON-CONTROLLING INTERESTS	12 Months Ended
	Dec. 31, 2018
REDEEMABLE NON-CONTROLLING INTERESTS
REDEEMABLE NON-CONTROLLING INTERESTS	4. REDEEMABLE NON‑CONTROLLING INTERESTS Fairlubo, the Group’s non-wholly owned subsidiary had its Series B financing in January, 2016. The Company along with three other investors contributed in Fairlubo’s Series B financing. These three shareholders’ contributions in Fairlubo were accounted for as the Group’s redeemable non-controlling interests, and were classified as Mezzanine equity. Pursuant to Fairlubo’s Series B shareholders agreement, upon occurrence of certain events (e.g. the Company’s successful listing in capital markets), the Series B held by the Group’s non-controlling interests holders had the option to convert their equity interests in Fairlubo into the Company’s shares based on the mechanism that set out in Fairlubo’s Article of Association (the “Share Swap”). In addition, the holders of Fairlubo’s Series B also had the option to request Fairlubo to redeem those shares under certain circumstance (e.g. a qualified initial public offering of Failubo has not occurred by the fourth anniversary after the issuance of Series B preferred shares). Based on the accounting assessment and valuation work conducted by an independent appraiser, the Group determined the aforementioned Shares Swap feature and redemption feature embedded in the Series B preferred shares was required to be bifurcated and accounted for as derivative liabilities. The Shares Swap had been completed by the issuance of the Company’s 13,026,713 Class A ordinary shares to non-controlling shareholders upon IPO. As of December 31, 2017, the fair values of the Share Swap feature and the redemption feature which were required to be bifurcated and accounted for as derivative liabilities are as follows: As of December 31, December 31, 2017 2018 RMB RMB Derivative liabilities - Share Swap feature of redeemable non-controlling interests 119,086 — Derivative liabilities - Redemption feature of redeemable non-controlling interests 49,778 — 168,864 —

ADVANCE TO CONSUMERS ON BEHALF

ADVANCE TO CONSUMERS ON BEHALF OF FINANCING PARTNERS	12 Months Ended
	Dec. 31, 2018
ADVANCE TO CONSUMERS ON BEHALF OF FINANCING PARTNERS
ADVANCE TO CONSUMERS ON BEHALF OF FINANCING PARTNERS	5. ADVANCE TO CONSUMERS ON BEHALF OF FINANCING PARTNERS As of December 31, December 31, 2017 2018 RMB RMB Advance to consumers on behalf of financing partners 827,417 521,908 The Group facilitates loans extended by third‑party financing partners to consumers through the online platform. From September 2015, the third‑party financing partners provide all the funds for the consumer loans, while the Group provides services to facilitate such financing transactions. Pursuant to the cooperation agreements entered into with third‑party financing partners, for the purpose of registering the collateral over the car purchased by consumers with relevant government authorities, the Group advances the funds needed to purchase the car to the consumer on financing partners’ behalf to the applicable car dealers directly. The third‑party financing partners shall pay the corresponding amount to the Group as agreed in the corporation agreements. For the balance of RMB 521.9 million as at December 31, 2018, all have been subsequently paid by financing partners.

LOAN RECOGNIZED AS A RESULT OF

LOAN RECOGNIZED AS A RESULT OF PAYMENT UNDER THE GUARANTEE	12 Months Ended
	Dec. 31, 2018
LOAN RECOGNIZED AS A RESULT OF PAYMENT UNDER THE GUARANTEE
LOAN RECOGNIZED AS A RESULT OF PAYMENT UNDER THE GUARANTEE	6. LOAN RECOGNIZED AS A RESULT OF PAYMENT UNDER THE GUARANTEE As of December 31, December 31, 2017 2018 RMB RMB Loan recognized as a result of payment under the guarantee 441,860 810,327 Less: allowance for doubtful accounts (189,305) (256,639) 252,555 553,688 The movement of allowance for the years ended December 31, 2016, 2017 and 2018 consisted of the following: Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Beginning — (7,222) (189,305) Addition (6,893) (184,586) (257,953) Adjustment (i) (711) (13,103) 152,862 Write-off 382 15,606 37,757 Ending (7,222) (189,305) (256,639) The third‑party financing partners offer financing solutions to the Borrowers and the Group is required to provide a guarantee. In the event of a payment default from the Borrower, the Group is required to repay the monthly installment or full amount of outstanding loan to the financing partner as the guarantor. As such, the Group recognized loan receivables as a result of payment under the guarantee deducted by an allowance to its expected recoverable amounts in the consolidated balance sheets. Loan recognized as a result of payment under the guarantee of RMB 343.2 million was pledged as collateral for long‑term borrowings of RMB120.8 million and current portion of long‑term borrowings of RMB278.6 million (Note 15). (i) On a normal basis, adjustments occur when either further revaluations of allowance for doubtful accounts are considered necessary therefore adjustments of provisions are needed, or settlements from the Borrowers are received to reverse the balances. Adjustments may also occur when certain loans recognized as a result of payments under the guarantees are bought out by certain new non-bank financing institutions without any recourse terms in 2018.

ADVANCE TO SELLERS

ADVANCE TO SELLERS	12 Months Ended
	Dec. 31, 2018
ADVANCE TO SELLERS
ADVANCE TO SELLERS	7. ADVANCE TO SELLERS As of December 31, December 31, 2017 2018 RMB RMB Advance to sellers 246,287 692,714 When facilitating used car transaction, the Group connect the sellers and buyers and provides service in relation to the cash flow remittance, i.e. the Group collects the cash from buyers and remits to sellers. The balance represents the prepayments to sellers by the Group, which are subsequently collected from the buyers in a short period of time. No allowance of advance to sellers was provided at December 31, 2017 and 2018, since no collection issues occurred in the past, The balance included advance to sellers in 2B business, total of RMB 246.3 million and RMB 236.2 million as of December 31, 2017 and 2018 respectively, and advance to sellers in 2C cross-regional business, total of nil and RMB 449.8 million as of December 31, 2017 and 2018 respectively. Advance to sellers of RMB 21.3 million was pledged as collateral for short-term borrowings of RMB 20.0 million (Note 15).

OTHER RECEIVABLES, NET

OTHER RECEIVABLES, NET	12 Months Ended
	Dec. 31, 2018
OTHER RECEIVABLES, NET
OTHER RECEIVABLES, NET	8. OTHER RECEIVABLES, NET As of December 31, December 31, 2017 2018 RMB RMB Deposits in non-bank financing partners (i) 52,000 502,550 Rental and other deposits 79,098 77,902 Staff advance 22,940 55,652 Receivables from third-party payment settlement platform 78,856 34,787 Others 19,027 42,970 251,921 713,861 Less: allowance for doubtful accounts (272) (6,457) 251,649 707,404 (i) The movement of allowance for doubtful accounts for the years ended December 31, 2016, 2017 and 2018 consisted of the following: Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB At the beginning of year — (269) (272) Addition (269) (3) (23,608) Write-off — — 17,423 At the ending of year (269) (272) (6,457)

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2018
PREPAID EXPENSES AND OTHER CURRENT ASSETS
PREPAID EXPENSES AND OTHER CURRENT ASSETS	9. PREPAID EXPENSES AND OTHER CURRENT ASSETS As of December 31, December 31, 2017 2018 RMB RMB Prepaid marketing expense 56,745 218,145 VAT-input deductible 80,589 64,237 Prepaid rental expense 57,188 46,581 Prepaid consulting and professional service fees 10,809 37,236 Prepaid non-banking financing partners service fees 18,607 26,295 Others 25,831 24,820 249,769 417,314

FINANCIAL LEASE RECEIVABLES

FINANCIAL LEASE RECEIVABLES	12 Months Ended
	Dec. 31, 2018
FINANCIAL LEASE RECEIVABLES
FINANCIAL LEASE RECEIVABLES	10. FINANCIAL LEASE RECEIVABLES Financial lease receivables include dealer inventory financing receivables and receivables generated from finance lease arrangements entered into with consumers. The following table presents financial lease receivables as of December 31, 2016, 2017 and 2018, respectively. As of December 31, December 31, December 31, 2016 2017 2018 RMB RMB Financial lease receivables due from car dealers 355,574 432,491 239,854 Financial lease receivables due from consumers 60,512 10,427 61,547 Less: allowance for doubtful accounts (2,624) (4,225) (6,890) 57,888 6,202 54,657 Financial lease receivables, net 413,462 438,693 294,511 The following presents the aging of past‑due financial lease receivables as of December 31, 2017: 1-90 days Above 90 days Total past due Current Total RMB RMB RMB RMB RMB Financial lease receivables due from car dealers — — — 432,491 432,491 Financial lease receivables due from consumers 2,808 7,619 10,427 — 10,427 2,808 7,619 10,427 432,491 442,918 The following present the aging of past‑due financial lease receivables as of December 31, 2018: 1-90 days Above 90 days Total past due Current Total RMB RMB RMB RMB RMB Financial lease receivables due from car dealers — — — 239,854 239,854 Financial lease receivables from consumers — 7,748 7,748 53,799 61,547 — 7,748 7,748 293,653 301,401 The following lists the components of the net investment in financial lease receivables due from car dealers and consumers as of December 31, 2017 and 2018. As of December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Total minimum lease payments to be received (i) 419,673 446,163 303,273 Less: Allowance for uncollectibles (2,624) (4,225) (6,890) Net minimum lease payments receivable 417,049 441,938 296,383 Less: unearned income (3,587) (3,245) (1,872) Net investment in direct financing and sales-type leases 413,462 438,693 294,511 (i) As of December 31, 2016, 2017 and 2018, all of the minimum lease payments would be paid in a year. There is no contingent rental for the year ended December 31, 2016, 2017 and 2018, respectively.

PROPERTY, EQUIPMENT AND SOFTWAR

PROPERTY, EQUIPMENT AND SOFTWARE, NET	12 Months Ended
	Dec. 31, 2018
PROPERTY, EQUIPMENT AND SOFTWARE, NET
PROPERTY, EQUIPMENT AND SOFTWARE, NET	11. PROPERTY, EQUIPMENT AND SOFTWARE, NET Property, equipment and software, net, consist of the following: As of December 31, December 31, 2017 2018 RMB RMB Cost Computer equipment 125,962 194,513 Leasehold improvement 106,947 147,704 Software 19,198 23,500 Furniture 13,638 19,611 Vehicle and motor 7,754 12,220 Construction in progress 18,082 13,629 Total property, equipment and software 291,581 411,177 Less: accumulated depreciation and amortization Computer equipment (56,528) (90,134) Leasehold improvement (64,203) (100,269) Software (4,418) (6,523) Furniture (5,706) (8,037) Vehicle and motor (4,101) (6,943) Total accumulated depreciation and amortization (134,956) (211,906) Net book value 156,625 199,271 The total amounts charged to the Consolidated Statements of Comprehensive Loss for depreciation and amortization expenses amounted to approximately RMB49.3 million, RMB68.2 million and RMB88.8 million for the year ended December 31, 2016, 2017 and 2018, respectively.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2018
INTANGIBLE ASSETS, NET
INTANGIBLE ASSETS, NET	12. INTANGIBLE ASSETS, NET Acquired intangible assets, net, consist of the following: As of December 31, December 31, 2017 2018 RMB RMB Supplier relationship 9,400 18,200 Software copyright 3,000 7,000 Others 5,952 10,002 Total intangible assets 18,352 35,202 Less: amortization (8,403) (14,023) Net book value 9,949 21,179 The total amounts charged to the Consolidated Statements of Comprehensive Loss for amortization expenses amounted to approximately RMB3.2 million, RMB3.7 million and RMB5.6 million for the year ended December 31, 2016, 2017 and 2018, respectively. The annual estimated amortization expense for intangible assets subject to amortization for the five years is as follows: As of December 31, 2018 RMB 2019 6,877 2020 5,661 2021 3,850 2022 3,370 2023 1,421 21,179

LONG-TERM INVESTMENTS

LONG-TERM INVESTMENTS	12 Months Ended
	Dec. 31, 2018
LONG-TERM INVESTMENTS
LONG-TERM INVESTMENTS	13. LONG-TERM INVESTMENTS The Group’s long-term investments consist of the following: As of December 31, December 31, 2017 2018 RMB RMB Available-for-sales debt security investment Orange Inc. 39,205 41,179 Equity method investments Jincheng Consumer Finance (Sichuan) Co., Ltd. (“Jincheng”) — 236,642 Weiche Information Technology Co., Ltd. (“Weiche”) — 2,006 — 238,648 Cost method investments ClearVue Pony Holdings Limited. (“ClearVue Pony”) — 68,632 Bai’an Online Property Insurance Co., Ltd. (“Bai’an”) 1,423 1,423 1,423 70,055 Total long-term investments 40,628 349,882 Major investments made by the Company during the year ended December 31, 2017 and 2018 are summarized as follows: Investment accounted for as available‑for‑sale debt security investment Investment in Orange Inc. In June 2017, the Group subscribed convertible preferred shares of Orange Inc., a technology company, for a consideration of US$6 million. The Group’s investment represented 10.26% of the equity interests, on an if‑converted basis. The preferred shares were not considered in‑substance ordinary shares as they provide substantive redemption rights, liquidation rights and fixed dividends to the Group, which are not available to ordinary shareholders. Thus the investment was classified as an available‑for‑sale investment in debt securities. Investments accounted for using equity method Investment in Jincheng In September 2017, the Company invested in Jincheng, a professional consumer financial service company. The Company acquired 19% ordinary equity interest with a total consideration of RMB 233.0 million. The investment was not closed until October 2018. The Company exercises significant influence in Jincheng and therefore accounts for this as a long-term investment using equity method. Investment in Weiche In May 2018, the Company invested in Weiche, a professional information technology company focusing on technology development and technology consulting service. The Company acquired 40% ordinary equity interest with a total consideration of RMB 3 million. The Company exercises significant influence in Weiche and therefore accounts for this as a long-term investment using equity method. Investments accounted for using cost method The Group does not have significant influence over these equity investments which do not have readily determinable market value, and therefore accounted for these investments using cost method. Investment in ClearVue Pony The Company’s wholly-owned subsidiary Xin Limited entered into an agreement with ClearVue Partner II, L.P to establish ClearVue Pony to invest in Pony AI, a technology company focusing on automobiles pilotless system. After the transaction, the Company held 23.8% ownership with a consideration of US$10 million. Since the Company did not appoint Board member in ClearVue Pony and could not exercise significant influence, this investment accounted for as long-term investment using cost method.

OTHER NON-CURRENT ASSETS

OTHER NON-CURRENT ASSETS	12 Months Ended
	Dec. 31, 2018
OTHER NON-CURRENT ASSETS
OTHER NON-CURRENT ASSETS	14. OTHER NON‑CURRENT ASSETS As of December 31, December 31, 2017 2018 RMB RMB Prepayment of long-term investment 112,902 — In September 2017, the Company prepaid investment consideration of RMB112.9 million in Jincheng, a professional consumer financial services provider. The investment was closed in October 2018 and prepayment of long-term investment was transferred to long-term investment (Note 13).

SHORT-TERM AND LONG-TERM BORROW

SHORT-TERM AND LONG-TERM BORROWINGS	12 Months Ended
	Dec. 31, 2018
SHORT-TERM AND LONG TERM BORROWINGS
SHORT-TERM AND LONG-TERM BORROWINGS	15. SHORT‑TERM AND LONG‑TERM BORROWINGS The following table presents short‑term and long‑term borrowings from commercial banks or other institutions as of December 31, 2017 and 2018. Short‑term borrowings includes borrowings with maturity terms shorter than one year and the current portion of the long‑term borrowings. As of As of Fixed annual December 31, December 31, Funding Partners interest rate Term 2017 2018 RMB RMB Short-term borrowings 4.8%-12.0% within 12 months 320,877 325,715 Current portion of long-term borrowings 5.2%-9.6% mature in 2019 105,906 298,873 Long-term borrowings 5.0%-6.4% 2 - 4 years 374,104 481,801 800,887 1,106,389 Long‑term borrowings of RMB120.8 million and current portion of long‑term borrowings of RMB278.6 million were secured by loan recognized as a result of payment under the guarantee of RMB343.2 million as at December 31, 2018 (Note 6). Short-term borrowings of RMB 20.0 million were secured by advance to sellers of RMB 21.3 million(Note 7). Short-term borrowings of RMB 20.4 million were secured by financial lease receivable - consumers of RMB 32.5 million (Note 10). The weighted average interest rate for the outstanding borrowings was approximately 6.4% and 6.5% as of December 31, 2017 and 2018, respectively.

GUARANTEE LIABILITIES

GUARANTEE LIABILITIES	12 Months Ended
	Dec. 31, 2018
GUARANTEE LIABILITIES
GUARANTEE LIABILITIES	16. GUARANTEE LIABILITIES The movement of guarantee liabilities is as follows: Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Balance at the beginning of the year 493 76,325 173,907 Fair value of guarantee liabilities upon the inception of new guarantees 84,708 284,452 403,370 Guarantee settled (6,893) (184,586) (257,953) (Gains)/losses from guarantee liabilities (1,983) (2,284) 1,931 Balance at the end of the year 76,325 173,907 321,255 The terms of the guarantee range from 2 years to 4 years, as of December 31, 2016, 2017 and 2018.

DEPOSIT OF INTERESTS FROM CONSU

DEPOSIT OF INTERESTS FROM CONSUMERS AND PAYABLE TO FINANCING PARTNERS	12 Months Ended
	Dec. 31, 2018
DEPOSIT OF INTERESTS FROM CONSUMERS AND PAYABLE TO FINANCING PARTNERS
DEPOSIT OF INTERESTS FROM CONSUMERS AND PAYABLE TO FINANCING PARTNERS	17. DEPOSIT OF INTERESTS FROM CONSUMERS AND PAYABLE TO FINANCING PARTNERS As of December 31, December 31, 2017 2018 RMB RMB Deposit of interests from consumers and payable to financing partners 1,076,096 512,569 Less: current portion (732,273) (482,827) Non-current portion 343,823 29,742 The Group facilitates loans extended by third-party financing partners to consumers through online platform. The third-party financing partners provide all the funds for the consumer loans, while the Group provides services to facilitate such financing transactions, including collection of interests deposit from the consumers at inception. The interest deposit normally approximates all the interest throughout the life of the loan. The balance represents the interests deposit from the consumers and subsequently payable to the financing partners. Since the second quarter of 2018, the Group have ceased the practice of collecting interest on behalf of the financing partners, and the down payments made by the consumers no longer include deposits of interest.

ADVANCE FROM BUYERS COLLECTED O

ADVANCE FROM BUYERS COLLECTED ON BEHALF OF SELLERS	12 Months Ended
	Dec. 31, 2018
ADVANCE FROM BUYERS COLLECTED ON BEHALF OF SELLERS
ADVANCE FROM BUYERS COLLECTED ON BEHALF OF SELLERS	18. ADVANCE FROM BUYERS COLLECTED ON BEHALF OF SELLERS As of December 31, December 31, 2017 2018 RMB RMB Advance from buyers collected on behalf of sellers 226,891 375,803 When facilitating used car transaction, the Group connects sellers and buyers and provides service in relation to the cash flow remittance, i.e. the Group collects the cash from buyers and remits to sellers. The balance represents the advance payments collected from buyers, which are subsequently paid to sellers in a short period of time.

OTHER PAYABLES AND ACCRUALS

OTHER PAYABLES AND ACCRUALS	12 Months Ended
	Dec. 31, 2018
OTHER PAYABLES AND ACCRUALS
OTHER PAYABLES AND ACCRUALS	19. OTHER PAYABLES AND ACCRUALS As of December 31, December 31, 2017 2018 RMB RMB Accrued advertising expenses 429,658 407,557 Deposits(i) 196,089 207,076 Accrued professional services and other expenses 40,932 129,203 Accrued salaries and benefits 143,777 185,597 Tax payables 50,637 102,324 Interest payable 4,610 61,434 Advance from customer 12,551 9,704 Others 49,135 94,405 927,389 1,197,300 (i) In order to participate the auction through the platforms, the participants are required to pay deposits to the Group. The deposits were interest free and have no fixed terms of repayment.

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2018
OTHER CURRENT LIABILITIES
OTHER CURRENT LIABILITIES	20. OTHER CURRENT LIABILITIES As of December 31, December 31, 2017 2018 RMB RMB Prepayment from Apex Ease Limited 130,684 — Prepayment from Huangpu Investment Holding Limited 32,671 — 163,355 — Apex Ease Limited, a Series G‑Plus preferred shareholder incorporated in British Virgin Islands, subscribed the Company’s preferred share capital of US$20 million in December 2017. The Group received a prepayment of US$20 million (equivalent to RMB130.7 million) in December 2017 from Apex Ease Limited as prepayment for this investment. The investment subsequently closed in January 2018 according to the Series G‑Plus share subscription agreement. Huangpu Investment Holding Limited, a Series G‑Plus preferred shareholder incorporated in British Virgin Islands, subscribed the Company’s preferred share capital of US$5 million in December 2017. The Group received a prepayment of US$5 million (equivalent to RMB 32.7 million) in December 2017 from Huangpu Investment Holding Limited as prepayment for this investment. The investment had been closed in January 2018 according to the Series G‑Plus share subscription agreement.

CONVERTIBLE NOTES

CONVERTIBLE NOTES	12 Months Ended
	Dec. 31, 2018
CONVERTIBLE NOTES
CONVERTIBLE NOTES	21. CONVERTIBLE NOTES As of December 31, December 31, 2017 2018 RMB RMB Convertible notes — 1,188,192 On June 9, 2018, the Company entered into a Convertible Note Purchase Agreement with CNCB (Hong Kong) Investment Limited (the “CNCB (Hong Kong)”), a company incorporated under the laws of Hong Kong. CNCB (Hong Kong) agreed to purchase convertible notes from the Company in the total principal amount of US$100 million (equivalent to RMB 686.3 million) b earing interest rate of 6% per annum. On June 12, 2018, the Company entered into the other Convertible Note Purchase Agreement with Golden Fortune Company Limited (the “Golden Fortune”), a company incorporated under the laws of the Cayman Islands and whose investment manager is ICBC Asset Management (Global) Company Limited. Golden Fortune agreed to purchase convertible notes from the Company in the total principal amount of US$75 million (equivalent to RMB 514.7 million) b earing interest rate of 6.5% per annum. Both of convertible notes (the “Notes”) would mature in 363 days since the offering date. CNCB (Hong Kong) and Golden Fortune may elect to convert their respective Notes into Class A ordinary shares from the 181st day after June 27, 2018 with conversion price per ordinary shares equal to 109.5% and 108% of IPO price per ordinary share, respectively. The Company has accounted for each of the Notes as a single instrument. The value of the Notes is measured by the cash received. The Company recorded the interest expenses according to its annual interest rate. There was no BCF attribute to the Notes as the set conversion price for each of the Notes was greater than the fair value of the ordinary share at the date of the issuance. The Company is currently going through refinancing process of the Notes.

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
RELATED PARTY BALANCES AND TRANSACTIONS
RELATED PARTY BALANCES AND TRANSACTIONS	22. RELATED PARTY BALANCES AND TRANSACTIONS The table below sets forth the major related parties and their relationships with the Group as of December 31, 2018: Name of related parties Relationship with the Group Xin Gao Group Ordinary shareholder and Preferred Shareholder of the Company, controlled by Mr. Kun Dai, Founder and CEO of the Group before June 27, 2018 and Class B ordinary shareholder of the Company after June 27, 2018 Gao Li Group Preferred Shareholder of the Company, controlled by Mr. Kun Dai, Founder and CEO of the Group before June 27, 2018 and Class A ordinary shareholder of the Company after June 27, 2018 Baidu (Hong Kong) Limited (“Baidu”) Preferred Shareholder of the Company before June 27, 2018 and Class A ordinary shareholder of the Company after June 27, 2018 Baogu An associate of the Group before August 31, 2017 Shanghai Xiao Qing Information Technology Co., Ltd. (“Xiao Qing”) An associate of the Group Chefang An associate of the Group before May 31, 2017 Mr. Kun Dai Founder and CEO of the Group Details of related party balances as of December 31, 2017 and 2018 and transactions for the year ended December 31, 2016, 2017 and 2018 are as follows: Amounts due from related parties As of December 31, December 31, 2017 2018 RMB RMB Loan receivables Gao Li Group 379,073 — Xin Gao Group 134,011 — Mr. Kun Dai 94,630 — Prepaid expenses Baidu 577 — 608,291 — Transactions with related parties Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Service provided by the related parties Xiao Qing 3,497 1,503 — Baogu 7,312 10,747 — Baidu 16,355 780 1,391 27,164 13,030 1,391

INCOME TAX EXPENSE

INCOME TAX EXPENSE	12 Months Ended
	Dec. 31, 2018
INCOME TAX EXPENSE
INCOME TAX EXPENSE	23. INCOME TAX EXPENSE Cayman Islands Under the current laws of the Cayman Islands, the Company and its subsidiaries incorporated in the Cayman Islands are not subject to tax on income or capital gain. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. British Virgin Islands Under the current laws of the British Virgin Islands, entities incorporated in the British Virgin Islands are not subject to tax on their income or capital gains. Hong Kong Under the current Hong Kong Inland Revenue Ordinance, the Group’s subsidiaries in Hong Kong are subject to 16.5% Hong Kong profit tax on its taxable income generated from operations in Hong Kong. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax. China On March 16, 2007, the National People’s Congress of PRC enacted a new Corporate Income Tax Law (“new CIT law”), under which Foreign Investment Enterprises (“FIEs”) and domestic companies would be subject to corporate income tax at a uniform rate of 25%. The new CIT law became effective on January 1, 2008. Under the new CIT law, preferential tax treatments will continue to be granted to entities which conduct businesses in certain encouraged sectors and to entities otherwise classified as “High and New Technology Enterprises” or “Software Enterprises”. Youxinpai (Beijing) Information Technology Co., Ltd. has been qualified as “high and new technology enterprise” and enjoys a preferential income tax rate of 15% from 2016 to 2018. Youxin Internet (Beijing) Information Technology Co., Ltd. has been qualified as “Software Enterprises” and enjoys the preferential period for preferential tax treatments shall be calculated from the profit‑making year, and the enterprise was exempted from CIT in 2016 and 2017, and will be allowed a 50% tax reduction at a statutory rate of 25% in 2018, 2019 and 2020. The applicable tax rate for Youxinpai (Beijing) lnformation Technology Co., Ltd was 12.5% (2017: 12.5%). The applicable tax rate for Youxin lnternet (Beijing) lnformation Technology Co., Ltd was 12.5% (2017: nil). Tax holiday had no impact as there is no taxable profit for both Youxinpai (Beijing) Information Technology Co., Ltd. and Youxin Internet (Beijing) Information Technology Co., Ltd. for the year ended December 31, 2017 and 2018. The Group’s other PRC subsidiaries, VIEs and VIEs’ subsidiaries are subject to the statutory income tax rate of 25%. Withholding tax on undistributed dividends The new CIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “actual management body” is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the “actual management body” as “the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, property, etc., of a non‑PRC company is located.” Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC should be considered a resident enterprise for PRC tax purposes. The new CIT law also imposes a withholding income tax of 10% on dividends distributed by an FIE to its immediate holding company outside of China, if such immediate holding company is considered as a non‑resident enterprise without any establishment or place within China or if the received dividends have no connection with the establishment or place of such immediate holding company within China, unless such immediate holding company’s jurisdiction of incorporation has a tax treaty with China that provides for a different withholding arrangement. According to the arrangement between Mainland China and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion in August 2006, dividends paid by an FIE in China to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than 5% (if the foreign investor owns directly at least 25% of the shares of the FIE). The Company did not record any dividend withholding tax, as it has no retained earnings for any of the periods presented. Composition of income tax expense The current and deferred portions of income tax expense included in the Consolidated Statements of Comprehensive Loss during the year ended December 31, 2016, 2017 and 2018 are as follows: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Current income tax expense (2,425) (1,190) (15,692) Deferred income tax credit 620 620 1,107 (1,805) (570) (14,585) Reconciliation of the differences between statutory tax rate and the effective tax rate Reconciliation of the differences between the statutory EIT rate applicable to losses of the consolidated entities and the income tax expenses of the Company: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Loss before tax (1,381,484) (2,750,825) (1,526,331) Income tax computed at PRC statutory tax rate (345,371) (687,706) (381,583) Effect of different tax rate 18,402 6,709 (21,369) Non-deductible expense 131,549 241,114 93,925 Change of valuation allowance 193,615 439,313 294,442 (1,805) (570) (14,585) Deferred tax assets and deferred tax liabilities The following table sets forth the significant components of the deferred tax assets: As of December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Deferred tax assets Net accumulated losses-carry forward 345,276 507,849 636,440 Deductible advertising expense 149,131 348,032 540,627 Accruals 17,496 93,732 68,271 Allowance 6,595 8,198 6,915 Less: valuation allowance (518,498) (957,811) (1,252,253) Net deferred tax assets — — — As of December 31, December 31, December 31, 2017 2017 2018 RMB RMB RMB Deferred tax liabilities Intangible assets arisen from business combinations 2,273 1,653 4,759 Movement of valuation allowance Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Balance at beginning of the year (324,883) (518,498) (957,811) Changes of valuation allowance (193,615) (439,313) (294,442) Balance at end of the year (518,498) (957,811) (1,252,253) As of December 31, 2018, the Group had net operating loss carries forwards of approximately RMB2,545.8 million which arose from the subsidiaries, VIEs and VIEs’ subsidiaries established in the PRC. . A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that amount of the deferred tax assets will not be realized. In making such determination, the Group evaluates a variety of factors including the Group’s operating history, accumulated deficit, the existence of taxable temporary differences and reversal periods. The Group has incurred net accumulated operating losses for income tax purposes since its inception. The Group believes that it is more likely than not that these net accumulated operating losses and other deferred tax assets will not be utilized in the future. Therefore, the Group has provided full valuation allowances for the deferred tax assets as of December 31, 2016,2017 and 2018.

ORDINARY SHARES

ORDINARY SHARES	12 Months Ended
	Dec. 31, 2018
ORDINARY SHARES
ORDINARY SHARES	24. ORDINARY SHARES As of December 31, 2017 and 2018, 1,312,839,230 and 10,000,000,000 ordinary shares had been authorized respectively. A total of 880,659,899 ordinary shares, par value US$0.0001 per share, consists of 839,850,038 Class A ordinary shares and 40,809,861 Class B ordinary shares, had been issued and outstanding as of December 31, 2018. 49,318,860 shares issued and outstanding as of December 31, 2017. 40,809,861 ordinary shares were redesignated to Class B ordinary shares with super voting power (one share with ten votes) granted to Mr. Kun Dai, Founder and CEO of the Group, upon the completion of the IPO. The Company issued and granted 17,742,890 restricted shares to Mr. Kun Dai on May 14, 2018. The restricted shares were vested immediately upon consummation of the IPO. On May 25, 2018, one of the Company’s executive officers exercised his vested stock options to acquire 3,333,330 ordinary shares of the Company. In addition, the Company also offered vesting acceleration to that executive officer’s 1,666,670 unvested stock options on May 25, 2018 and the executive officer also exercised such stock options to acquire 1,666,670 ordinary shares of the Company. Besides of which, certain option holders exercised their stock options and acquired 3,479,505 ordinary shares. Immediately prior to the completion of the IPO, all classes of preferred shares of the Company were converted and redesignated as 743,343,820 Class A ordinary shares on a one-for-one basis, all ordinary shares of the Company were redesignated as Class B ordinary share. Mr. Kun Dai, founder, chairman and chief executive officer of the Company, will be deemed to beneficially own all of our issued Class B ordinary shares On June 27, 2018, the Company completed its IPO on NASDAQ Global Select Market. The Company offered 75,000,000 Class A ordinary shares which represented 25,000,000 ADS. Pursuant to an agreement entered into by the Company with Mr. Kun Dai and Xin Gao Group on May 28, 2018, Mr. Kun Dai and Xin Gao Group agreed to surrender and deliver 37,990,839 shares held by Xin Gao Group to the Company, and the Company agreed to accept these surrendered shares to settle all the outstanding principal and interest accrued of the loan due from Xin Gao Group, Mr. Kun Dai and Gao Li Group. Fairlubo Share Swap represents the issuance of 13,026,713 Class A ordinary shares upon the conversion of Fairlubo shares held by certain Fairlubo shareholders upon completion of this offering, at an initial public offering price of US$9.00 per ADS.

CONVERTIBLE REDEEMABLE PREFERRE

CONVERTIBLE REDEEMABLE PREFERRED SHARES	12 Months Ended
	Dec. 31, 2018
CONVERTIBLE REDEEMABLE PREFERRED SHARES
CONVERTIBLE REDEEMABLE PREFERRED SHARES	25. CONVERTIBLE REDEEMABLE PREFERRED SHARES On July 17, 2012, the Company entered into a shares purchase agreement with certain investors, pursuant to which 50,000,000 Series A Convertible Redeemable Preferred Shares (“Series A Preferred Shares”) were issued on July 17, 2012 for an aggregated consideration of US$10.0 million. The Company incurred issuance costs of RMB0.4 million (US$0.1 million) in connection with this offering. On March 26, 2013, the Company entered into a shares purchase agreement with certain investors, pursuant to which 52,951,970 Series B Convertible Redeemable Preferred Shares (“Series B Preferred Shares”, “Series B Preferred Shares Tranche I”, or “Series B‑I”) were issued on March 26, 2013 for an aggregated consideration of US$15.0 million. The Company incurred issuance costs of RMB0.34 million (US$0.1 million) in connection with this offering. On April 22, 2013, the Company entered into a shares purchase agreement with certain investors, pursuant to which 17,650,660 Series B Convertible Redeemable Preferred Shares (“Series B Preferred Shares”, “Series B Preferred Shares Tranche II”, or “Series B‑II”) were issued on April 22, 2013 for an aggregated consideration of US$5.0 million. The Company incurred issuance costs of RMB0.1 million (US$0.02 million) in connection with this offering. In December 2013, the Company issued certain Convertible Promissory Notes (“2013 Notes”) amounting to US$5.0 million to the third party investor LC Fund V, L.P. and LC Parallel Fund V, L.P., which were subsequently converted into Series C‑2 Convertible Redeemable (“Series C Preferred Shares,” or “Series C‑2 Preferred Shares”), upon the issuance of the Series C‑2 Preferred Shares on March 24, 2014. On February 26, 2014, the Company issued certain Convertible Promissory Notes (“2014 Notes”) amounting to US$5.0 million to the third party investor DCM Hybrid RMB Fund, L.P., which were subsequently converted into Series C‑1 Convertible Redeemable Preferred Shares (“Series C Preferred Shares”, or “Series C‑1 Preferred Shares”, or “Series C‑1 Preferred Shares Tranche I”, or “Series C‑1‑I”), upon the issuance of the Series C‑1 Preferred Shares on March 24, 2014. The Company incurred issuance costs of RMB0.3 million (US$0.1 million) in connection with this offering. On March 24, 2014, the Company entered into a shares purchase agreement with certain investors, pursuant to which 85,527,210 Series C‑1 Convertible Redeemable Preferred Shares Tranche I and 10,558,910 Series C‑2 Preferred Shares were issued on March 24, 2014 for an aggregated consideration of US$50.0 million (including the conversion of 2013 Notes and 2014 Notes), of which 7,243,410 Series C‑1 Convertible Redeemable Preferred Shares Tranche I was subsequently repurchased by the Company in November 2014. The Company incurred issuance costs of RMB0.07 million (US$0.01 million) in connection with this offering. On August 7, 2014, the Company entered into a shares purchase agreement with certain investors, pursuant to which 19,006,050 Series C‑1 Convertible Redeemable Preferred Shares (“Series C Preferred Shares”, or “Series C‑1 Preferred Shares”, or “Series C‑1 Preferred Shares Tranche II”, or “Series C‑1‑II”) were issued on August 7, 2014 for an aggregated consideration of US$10.0 million, of which 3,621,710 and 6,959,370 Series C‑1 Convertible Redeemable Preferred Shares was repurchased by the Company in November 2014 and May 2015, respectively. The Company incurred issuance costs of RMB0.4 million (US$0.1 million) in connection with this offering. On September 9, 2014, the Company entered into a shares purchase agreement with certain investors, pursuant to which 144,868,320 Series D Convertible Redeemable Preferred Shares (“Series D Preferred Shares”, “Series D Preferred Shares Tranche I”, or “Series D‑I”) were issued on September 9, 2014 for an aggregated consideration of US$200.0 million. The Company incurred issuance costs of RMB0.8 million (US$0.1 million) in connection with this offering. On November 28, 2014, the Company entered into a shares purchase agreement with certain investors, pursuant to which 14,486,830 Series D Convertible Redeemable Preferred Shares (“Series D Preferred Shares”, “Series D Preferred Shares Tranche II”, or “Series D‑II”) were issued on November 28, 2014 for an aggregated consideration of US$20.0 million. The Company incurred issuance costs of RMB0.08 million (US$0.01 million) in connection with this offering. On March 13, 2015, the Company entered into a shares purchase agreement with certain investors, pursuant to which 89,477,490 Series E Convertible Redeemable Preferred Shares (“Series E Preferred Shares”) were issued on March 13, 2015 for an aggregated consideration of US$150.0 million. The Company incurred issuance costs of RMB0.8 million (US$0.1 million) in connection with this offering. On November 13, 2015, the Company entered into a shares purchase agreement with certain investors, pursuant to which 73,053,830 Series F Convertible Redeemable Preferred Shares (“Series F Preferred Shares”, or “Series F Preferred Shares Tranche I”, or “Series F‑I”) were issued on November 13, 2015 for an aggregated consideration of US$181.0 million. The Company incurred issuance costs of RMB0.8 million (US$0.1 million) in connection with this offering. On December 1, 2015, the Company entered into a shares purchase agreement with certain investors, pursuant to which 12,108,370 Series F Convertible Redeemable Preferred Shares (“Series F Preferred Shares, “Series F Preferred Shares Tranche II”, or “Series F‑II”) were issued on December 1, 2015 for an aggregated consideration of US$30.0 million. The Company incurred issuance costs of RMB0.1 million (US$0.02 million) in connection with this offering. On April 20, 2016, the Company entered into a shares purchase agreement with certain investors, pursuant to which 4,910,890 Series A‑1 Convertible Redeemable Preferred Shares (“Series A‑1 Preferred Shares”) were issued on April 20, 2016 for an aggregated consideration of US$10.0 million. The Company incurred issuance costs of RMB0.8 million (US$0.1 million) in connection with the offering of Series A‑1 Preferred Shares. The subscription consideration is higher than the fair value of the preferred shares as of the date of closing, with the difference of RMB3.4 million being recorded as shareholder’s contribution from Series A‑1 preferred shareholders. On December 26, 27, 28 and 30, 2016, the Company entered into a shares purchase agreement with certain investors, pursuant to which 70,725,860 Series G Convertible Redeemable Preferred Shares (“Series G Preferred Shares”, “Series G Preferred Shares Tranche I”, or “Series G‑I”) were issued on January 13, 2017 for an aggregated consideration of US$212.2 million. The Company incurred issuance costs of RMB5.0 million (US$0.8 million) in connection with the offering of Series G‑I Preferred Shares. The subscription consideration is lower than the fair value of this preferred shares as of the date of closing, with the difference of RMB6.9 million being recorded as deemed dividend to Series G‑I preferred shareholders. On July 20 and 30, 2017, the Company entered into a shares purchase agreement with certain investors, pursuant to which 28,117,410 Series G Convertible Redeemable Preferred Shares (“Series G Preferred Shares”, “Series G Preferred Shares Tranche II”, or “Series G‑II”) were issued on July 28, 2017 for an aggregated consideration of US$82.5 million. The Company incurred issuance costs of RMB0.9 million (US$0.1 million) in connection with the offering of Series G‑II Preferred Shares. The subscription consideration is lower than the fair value of this preferred shares as of the date of closing, with the difference of RMB233.1 million being recorded as deemed dividend to Series G‑II preferred shareholders. On August 31, 2017, the Company entered into a shares purchase agreement with certain investors, pursuant to which 16,777,370 Series G Convertible Redeemable Preferred Shares (“Series G Preferred Shares”, “Series G Preferred Shares Tranche III”, or “Series G‑III”) were issued on October 21, 2017 for an aggregated consideration of US$50.0 million. The Company incurred issuance costs of RMB0.3 million (US$0.05 million) in connection with the offering of Series G‑III Preferred Shares. The subscription consideration is lower than the fair value of this preferred shares as of the date of closing, with the difference of RMB185.0 million being accounted as deemed dividend to Series G‑III preferred shareholders. On November 23, 2017, the Company entered into a shares purchase agreement with certain investors, pursuant to which 14,764,090 Series G Convertible Redeemable Preferred Shares (“Series G Preferred Shares”, “Series G Preferred Shares Tranche IV”, or “Series G‑IV”) were issued on November 27, 2017 for an aggregated consideration of US$44.0 million. The Company incurred issuance costs of RMB0.3 million (US$0.04 million) in connection with the offering of Series G‑IV Preferred Shares. The subscription consideration is lower than the fair value of this preferred shares as of the date of closing, with the difference of RMB162.6 million being accounted as deemed dividend to Series G‑IV preferred shareholders. On November 23 and December 6, 2017, the Company entered into a shares purchase agreement with certain investors, pursuant to which 67,922,000 Series G-Plus Convertible Redeemable Preferred Shares ("Series G-Plus Preferred Shares", "Series G Preferred Shares Tranche Plus", or "Series G-Plus") were issued on January 2, 2018 for an aggregated consideration of US$250.0 million. The Company incurred issuance costs of RMB3.9 million (US$0.6 million) in connection with the offering of Series G-Plus Preferred Shares. The subscription consideration is lower than the fair value of this preferred shares as of the date of closing, with the difference of RMB544.8 million being accounted as deemed dividend to Series G-Plus preferred shareholders. The Series A, A-1. B, C, D, E, F, G and G-Plus Preferred Shares are collectively referred to as the Preferred Shares. On June 1 2018, the Company effected its board of directors and shareholders’ resolution on share split plan. As such, each of ordinary share and Preferred Shares of the Company was subdivided into 10 shares at par value of US$0.0001. respectively. All of Preferred Shares were converted into Class A ordinary shares immediately upon the completion of the Company’s initial public offerings on June 27, 2018. Prior to their conversion, Preferred Shares were entitled to certain preference with respect to conversion, redemption, dividends and liquidation. Accounting for preferred shares The Company classified the Preferred Shares in the mezzanine section of the Consolidated Balance Sheets because they were redeemable at the holders’ option any time after a certain date and were contingently redeemable upon the occurrence of certain liquidation event outside of the Company’s control. The conversion feature and liquidation preferences feature as mentioned below, are initially measured at its fair value, respectively, and the initial carrying value for the Preferred Shares are allocated on a residual basis, net of issuance costs. Modification of preferred shares The Company assesses whether an amendment to the terms of its convertible redeemable preferred shares is an extinguishment or a modification based on a qualitative evaluation of the amendment. If the amendment adds, removes, significantly changes to a substantive contractual term or to the nature of the overall instrument, the amendment results in an extinguishment of the preferred shares. The Company also assess if the change in terms results in value transfer between Preferred Shareholders or between Preferred Shareholders and ordinary shareholders. When convertible redeemable preferred shares are extinguished, the difference between the fair value of the consideration transferred to the convertible redeemable Preferred Shareholders and the carrying amount of such preferred shares (net of issuance costs) is treated as a deemed dividend to the Preferred Shareholders. When convertible redeemable preferred shares are modified and such modification results in value transfer between Preferred Shareholders and ordinary shareholders, the change in fair value resulted from the amendment is treated as a deemed dividend to or from the Preferred Shareholders. On January 13, 2017, the Redemption Start Date of Series A, A‑1, B, C D, E and F preferred shares was extended from November 13, 2020 to January 13, 2022, which was to be in line with the optional redemption date of Series G Tranche I Preferred Shares. In the meantime, the market capitalization criteria for a “Qualified IPO” was increased from US$2.5 billion to US$3 billion. On July 28, 2017, the Redemption Start Date of Series A, A‑1, B, C, D, E, F and G‑1 preferred shares was extended from January 13, 2022 to July 28, 2022, which is to be in line with the optional redemption date of Series G Tranche II Preferred Shares. On October 21, 2017, the Redemption Start Date of Series A, A‑1, B, C, D, E, F, G‑1 and G‑2 preferred shares was modified from July 28, 2022 back to January 13, 2022. In the meantime, the market capitalization criteria for a “Qualified IPO” was increased from US$3.173 billion to US$3.2 billion. The Company evaluated the modifications and concluded that they represented modifications, rather than extinguishment, of Preferred Shares, which resulted in a transfer of value from preferred shareholders to ordinary shareholder. On the date of the modifications, the Company assessed the total fair value of Preferred Shares immediately before and after the change of the terms with the assistance from an independent third‑party appraiser. The Company is ultimately responsible for the determination of such fair value. The combined change in fair value of Preferred Shares immediately before and after the modification was US$5.9 million on January 13, 2017, US$2.7 million on July 28, 2017 and US$5.1 million on October 21, 2017. This increase in fair value of the ordinary shares of US$5.9 million on January 13, 2017, US$2.7 million on July 28, 2017 and US$5.1 million on October 21, 2017 respectively is, in substance, a transfer of wealth mostly from the Preferred Shareholders to the ordinary shareholder, and therefore are recorded as deemed dividend from the Preferred Shareholders. As of December 31, 2017 and 2018, the fair values of the conversion features which required to be bifurcated and accounted for as derivative liabilities are as follows: As of December 31, December 31, 2017 2018 RMB RMB Derivative liability — conversion feature 1,427,560 — The Company’s convertible redeemable Preferred Shares activities for the years ended December 31, 2016, 2017 and 2018 are summarized below: Series A Shares Series A-1 Shares Series B Shares Series C Shares Number of Amount Number of Amount Number of Amount Number of Amount shares (RMB) shares (RMB) shares (RMB) shares (RMB) Balance as of January 1, 2016 50,000,000 81,385,584 — — 70,602,630 155,112,560 97,267,680 342,087,590 Issuance of Series A-1 Shares, net of issuance cost — — 4,910,890 57,941,529 — — — — Accretion on convertible redeemable preferred shares to redemption value — 6,480,973 — 4,652,709 — 12,483,871 — 33,082,269 Balance as of December 31, 2016 50,000,000 87,866,557 4,910,890 62,594,238 70,602,630 167,596,431 97,267,680 375,169,859 Issuance of Series A-1 Shares, net of issuance cost — — — — — — — — Accretion on convertible redeemable preferred shares to redemption value — 6,544,652 — 6,599,134 — 12,697,414 — 33,389,066 Balance as of December 31, 2017 50,000,000 94,411,209 4,910,890 69,193,372 70,602,630 180,293,845 97,267,680 408,558,925 Issuance of Series G-Plus Shares, net of issuance cost — — — — — — — — Accretion on convertible redeemable preferred shares to redemption value — 3,232,164 — 3,336,630 — 6,271,618 — 16,640,809 Repurchase of the surrender shares (3,313,980) (6,471,764) — — — — (8,424,970) (36,829,243) Convert to ordinary shares upon IPO (46,686,020) (91,171,609) (4,910,890) (72,530,002) (70,602,630) (186,565,463) (88,842,710) (388,370,491) Balance as of December 31, 2018 — — — — — — — — Series D Shares Series E Shares Series F Shares Series G Shares Series G-Plus Shares Number of Amount Number of Amount Number of Amount Number of Amount Number of Amount shares (RMB) shares (RMB) shares (RMB) shares (RMB) shares (RMB) Balance as of January 1, 2016 159,355,150 1,414,071,460 89,477,490 960,738,373 85,162,200 1,303,374,879 — — — — Accretion on convertible redeemable preferred shares to redemption value — 144,135,637 — 91,828,728 — 128,681,319 — — — — Balance as of December 31, 2016 159,355,150 1,558,207,097 89,477,490 1,052,567,101 85,162,200 1,432,056,198 — — — — Issuance of Series G Shares, net of issuance cost — — — — — — 130,384,730 3,089,182,344 — — Accretion on convertible redeemable preferred shares to redemption value — 145,460,002 — 93,783,794 — 131,600,542 — 125,749,958 — — Balance as of December 31, 2017 159,355,150 1,703,667,099 89,477,490 1,146,350,895 85,162,200 1,563,656,740 130,384,730 3,214,932,302 — — Issuance of Series G-Plus Shares, net of issuance cost — — — — — — — — 67,922,000 2,066,336,179 Accretion on convertible redeemable preferred shares to redemption value — 72,704,263 — 46,708,885 — 65,810,530 — 68,361,184 — 35,885,258 Convert to ordinary shares upon IPO (159,355,150) (1,776,371,362) (89,477,490) (1,193,059,780) (85,162,200) (1,629,467,270) (130,384,730) (3,283,293,486) (67,922,000) (2,102,221,437) Balance as of December 31, 2018 — — — — — — — — — —

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2018
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION	26. SHARE‑BASED COMPENSATION On March 26, 2013, the Company adopted the 2013 Stock Incentive Plan (“2013 Plan”). Under the 2013 Plan, the Company’s Board of Directors has approved that a maximum aggregate number of shares that may be issued pursuant to all awards granted under the 2013 Plan shall be 34,275,990 shares. On November 13, 2015, the Company increased the maximum number of shares available for grants of awards to 40,942,650. On April 20, 2016, the Company increased the maximum number of shares available to 65,000,000. On February 14, 2018, the Company adopted the 2018 Amended and Restated Share Incentive Plan (“2018 Plan”). Under the 2018 Plan, the Company increased the maximum number of shares available to 87,742,890. On November 19, 2018, the Company amended and restated the 2018 Plan, and renamed it 2018 Second Amended and Restated Incentive Plan (“2018 Second Plan”). Under the 2018 Second Plan, the Company increased the maximum number of shares available to 102,040,053. Stock options granted to an employee under the 2013 Plan will generally be exercisable upon the Company completes a Qualified IPO or a defined Corporate Transaction (i.e. change of control, etc.) and the employee renders service to the Company in accordance with a stipulated service schedule. Employees are generally subject to a four‑year service schedule, under which an employee earns an entitlement to vest in 25% of his option grants at the end of each year of completed service. For the Company’s key management grantee, the vested stock options granted could be retained and be exercised until the earlier of (i) any day commencing from the day that is six (6) months prior to the anticipated consummation of an IPO, or (ii) the day immediately prior to the consummation of a Corporate Transaction before March 26, 2023. For the Company’s employee grantee, prior to the Company completes a Qualified IPO or Corporate Transaction, the stock options granted to the employee shall be forfeited three months after termination of employment of the employee. The Company’s key management, management and employee grantees are collectively hereafter referred to as “Grantees”. The Company granted 11,618,090, 12,819,330 and 25,224,000 stock options to Grantees for the years ended December 31, 2016, 2017 and 2018, respectively. The following table sets forth the stock options activity for the years ended December 31, 2016, 2017 and 2018: Weighted average Weighted Weighted- remaining Aggregate average fair Number of average contractual intrinsic value of shares exercise price term value options US$ 000’US$ US$ Outstanding as of January 1, 2016 20,755,390 0.13 8.26 29,341.64 0.57 Granted 11,618,090 1.01 — — 1.31 Forfeited (800,520) 0.40 — — 0.55 Outstanding as of December 31, 2016 31,572,960 0.45 8.02 57,467.59 0.85 Granted 12,819,330 2.13 — — 1.72 Forfeited (3,146,130) 1.31 — — 1.06 Outstanding as of December 31, 2017 41,246,160 0.90 7.53 147,427.66 1.10 Granted 25,224,000 2.90 — — 3.32 Forfeited (2,822,511) 2.39 — — 2.32 Exercised (8,452,649) 0.20 — — 1.23 Outstanding as of December 31, 2018 55,195,000 1.85 7.74 27,773.18 2.03 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the estimated fair value of the underlying stock at each reporting date. In determining the grant date fair value of our ordinary shares for purposes of recording share‑based compensation in connection with employee stock options, we, with the assistance of independent appraisers, performed retrospective valuations instead of contemporaneous valuations because, at the time of the valuation dates, our financial and limited human resources were principally focused on business development efforts. This approach is consistent with the guidance prescribed by the AICPA Audit and Accounting Practice Aid, Valuation of Privately‑Held‑Company Equity Securities Issued as Compensation, or the Practice Aid. Specifically, the ''Level B'' recommendation in paragraph 16 of the Practice Aid sets forth the preferred types of valuation that should be used. We, with the assistance of an independent valuation firm, evaluated the use of three generally accepted valuation approaches: market, cost and income approaches to estimate our enterprise value. We and our appraisers considered the market and cost approaches as inappropriate for valuing our ordinary shares because no exactly comparable market transaction could be found for the market valuation approach and the cost approach does not directly incorporate information about the economic benefits contributed by our business operations. Consequently, we and our appraisers relied solely on the income approach in determining the fair value of our ordinary shares. This method eliminates the discrepancy in the time value of money by using a discount rate to reflect all business risks including intrinsic and extrinsic uncertainties in relation to our company. The income approach involves applying discounted cash flow analysis based on our projected cash flow using management’s best estimate as of the valuation dates. Estimating future cash flow requires us to analyze projected revenue growth, gross margins, operating expense levels, effective tax rates, capital expenditures, working capital requirements, and discount rates. Our projected revenues were based on expected annual growth rates derived from a combination of our historical experience and the general trend in this industry. The revenue and cost assumptions we used are consistent with our long‑term business plan and market conditions in this industry. We also have to make complex and subjective judgments regarding our unique business risks, our limited operating history, and future prospects at the time of grant. Other assumptions we used in deriving the fair value of our equity include: · no material changes will occur in the applicable future periods in the existing political, legal, fiscal or economic conditions in China; · no material changes will occur in the current taxation law in China and the applicable tax rates will remain consistent; · we have the ability to retain competent management and key personnel to support our ongoing operations; and · industry trends and market conditions for the used car e‑commerce businesses will not deviate significantly from current forecasts. Options granted to Grantees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions: Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 Expected volatility 45%-53% 43%-51% 42%-47% Risk-free interest rate (per annum) 2.08%-2.40% 2.08%-2.32% 2.49%~2.69% Exercise multiple 2.8/2.2 2.8/2.2 2.8/2.2 Expected dividend yield Contractual term (in years) 10 10 10 The expected volatility was estimated based on the historical volatility of comparable peer public companies with a time horizon close to the expected term of the Company’s options. The risk‑free interest rate was estimated based on the yield to maturity of U.S. treasury bonds denominated in US$ for a term consistent with the expected term of the Company’s options in effect at the option valuation date. The exercise multiple is estimated as the ratio of fair value of underlying shares over the exercise price as at the time the option is exercised, based on a consideration of empirical studies on the actual exercise behavior of employees. The expected dividend yield is zero as the Company has never declared or paid any cash dividends on its shares, and the Company does not anticipate any dividend payments in the foreseeable future. The expected term is the contract life of the option. For the Company’s stock options granted to Grantees, the completion of an IPO or the Corporate Transaction is considered to be a performance condition of the awards. An IPO or the Corporate Transaction, is not considered to be probable until it is completed. Under ASC 718, compensation cost should be accrued if it is probable that the performance condition will be achieved. As a result, no compensation expense will be recognized related to these options until the completion of an IPO or the Corporate Transaction, and hence no share‑based compensation expense was recognized for the year ended December 31, 2016. In case when it is considered probable that a Qualified IPO will be completed, the compensation cost should be recognized earlier for the key management grantees, at six (6) months prior to the anticipated consummation of the IPO, based on this special term offered to the key management grantees. All the options granted to key management are fully vested as at December 31, 2017, and a share‑based compensation expense of US$ 4.2 million (equivalent to RMB 28.2 million) was recognized for the vested options offered to key management grantees for the year ended December 31, 2017, given the Qualified IPO is expected to be consumed within 6 months. A total of US$36.7 million (equivalent to RMB 242.9 million) share compensation expense was recognized immediately upon the completion of IPO on June 27, 2018. A total of US$21.7 million (equivalent to RMB 150.9 million) share-based compensation expense was recognized for the vested options offered to management and employees. The Company granted nil and 179,100 restricted shares to Grantees for the year ended December 31, 2017 and 2018, respectively. The following table sets forth the restricted shares activity for the year ended December 31, 2018: Number of Weighted average shares grant date fair value US$ Unvested as of December 31, 2017 — — Granted 160,190 1.95 Vested (26,856) 0.39 Unvested as of December 31, 2018 133,334 2.26 Total share-based compensation cost for the restricted shares amounted to nil and US$ 0.1 million (equivalent to RMB 0.8 million) for the years ended December 31, 2017 and 2018, respectively. Other share‑based compensation The Company issued and granted 17,742,890 restricted shares to Mr. Kun Dai, Founder and CEO of the Group, on May 14, 2018. The restricted shares were vested immediately upon consummation of a successful IPO of the Company. In June 2018, the Company recorded share-based compensation expense of US$ 93.8 million (equivalent to RMB 620.4 million) in general and administrative expense. On May 25, 2018, one of the Company’s executive officers exercised his vested stock options to acquire 3,333,330 ordinary shares of the Company. In addition, the Company also offered vesting acceleration to that executive officer’s 1,666,670 unvested stock options on May 25, 2018 and the executive officer also exercised such stock options to acquire 1,666,670 ordinary shares of the Company. Therefore, in May 2018, the Company recorded all remaining unrecognized compensation costs which were accelerated in the amount of US$ 4.8 million (equivalent to RMB 31.8 million) in general and administrative expense. On June 27, 2018, US$ 0.8 million (equivalent to RMB 5.2 million) share-based compensation was recorded as the redesignation of the Company’s ordinary shares and super voting power was granted to Class B beneficial owner, Mr. Kun Dai in general and administrative expense. Stock incentive plan adopted by Fairlubo In 2017, Fairlubo Auction Company Limited, one of the Group’s non‑wholly owned subsidiaries adopted and started to operate its own share‑based compensation plan. Their exercise prices of the share options, as well as the vesting periods of the share options and awarded shares are determined by the board of directors of this subsidiary at their sole discretion. The share options granted are normally vested over 4‑year period, with ¼ of the total shares to be vested on each anniversary of the vesting commencement date, and the exercises of the awards of the Fairlubo are also subject to the completion of an IPO or immediately prior to a defined corporate transaction, which are considered to be a performance condition of the awards. An IPO or the defined corporate transaction is not considered to be probable until it is completed. Under ASC 718, compensation cost should be accrued if it is probable that the performance condition will be achieved. As a result, no compensation expense will be recognized related to the Fairlubo’s stock options until the completion of an IPO or the corporate transaction, and hence no share‑based compensation expense was recognized for the years ended December 31, 2016, 2017 and 2018, respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2018
SEGMENT INFORMATION
SEGMENT INFORMATION	27. SEGMENT INFORMATION Segments are business units that offer different services and are reviewed separately by the chief operating decision maker (the “CODM”), or the decision-making group, in deciding how to allocate resources and in assessing performance. The CODM, who is responsible for allocating resources and assessing performance of the operating segment, has been identified as Uxin’s Chief Executive Officer. The Group operates as a single operating segment. The single operating segment is reported in a manner consistent with the internal reporting provided to the CODM. The Group primarily generates its revenues in China, and assets of the Company are also primarily located in China Area. Accordingly, no geographical segments are presented.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2018
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	28. FAIR VALUE MEASUREMENTS Assets and liabilities disclosed at fair value The Company measures its cash and cash equivalents, accounts receivables, financial lease receivables and short‑term borrowing at amortized cost. The carrying value of accounts receivable and financial lease receivables approximate their fair value which are considered a level 3 measurement. The fair value was estimated by discounting the scheduled cash flows through to estimated maturity using estimated discount rates based on current offering rates of comparable institutions with similar services. The carrying value of the Company’s debt obligations approximate fair value as the borrowing rates are similar to the market rates that are currently available to the Company for financing obligations with similar terms and credit risks and represent a level 2 measurement. The guarantee liabilities are presented as a level 3 measurement, with the fair value estimated by discounting expected future payouts, net loss rates, expected collection rates and a discount rate for time value. Assets measured at fair value on a nonrecurring basis The Company measured its property and equipment, intangible assets and equity method investment at fair value on a nonrecurring basis whenever events or changes in circumstances indicate that the carrying value may no longer be recoverable. Assets and liabilities measured at fair value on a recurring basis The Company measured its available-for-sale debt security investment, derivative liabilities, and guarantee liabilities at fair value on a recurring basis. As the Company’s available-for-sale debt security investments, derivative liabilities and guarantee liabilities are not traded in an active market with readily observable prices, the Company uses significant unobservable inputs to measure the fair value of available-for-sale investment, derivatives liabilities and guarantee liabilities. These instruments are categorized in the Level 3 valuation hierarchy based on the significance of unobservable factors in the overall fair value measurement. The Company did not transfer any assets or liabilities in or out of level 3 during the year ended December 31, 2017 and 2018. The following table summarizes the Company’s financial assets and liabilities measured and recorded at fair value on recurring basis as of December 31, 2017 and 2018: As of December 31, 2017 Non-observable Active market Observable input input (Level 1) (Level 2) (Level 3) Total RMB RMB RMB RMB Assets: Short-term investments — 1,000 — 1,000 Available-for-sale debt security investment — — 39,205 39,205 — 1,000 39,205 40,205 Liabilities: Derivative liabilities — — 1,596,424 1,596,424 Guarantee liabilities — — 173,907 173,907 — — 1,770,331 1,770,331 As of December 31, 2018 Non- Active market Observable input observable input (Level 1) (Level 2) (Level 3) Total RMB RMB RMB RMB Assets: Short-term investments — 553,568 42,510 596,078 Available-for-sale debt security investment — — 41,179 41,179 — 553,568 83,689 637,257 Liabilities: Guarantee liabilities — — 316,064 316,064 Refer to Note 13, 16 and 25 for additional information about Level 3 available-for-sale debt security investment, guarantee liabilities and derivative liabilities measured at fair value on a recurring basis for the year ended December 31, 2017 and 2018. The roll forward of major Level 3 investments are as followings: Total RMB Fair value of Level 3 investments as of December 31, 2016 — New addition 405,492 Disposal of investments (400,101) Effect of exchange rate change (5,391) Fair value of Level 3 investments as of December 31, 2107 — New addition 237,510 Disposal of investments (195,000) Fair value of Level 3 investments as of December 31, 2108 42,510 Valuation Techniques a. Short‑term investment Short-term investment primarily including term deposits and investment products placed with banks with original maturities longer than three months but less than one year. b. Available‑for‑sale debt security investment Available-for-sale financial assets represent investment of redeemable preferred shares, and fair value of which is determined with reference to the issuance price of latest round of financing. c. Derivative liabilities Significant factors, assumptions and methodologies used in determining the business valuation include applying the discounted cash flow approach, and such approach involves certain significant estimates which are as follows: Discount rate DLOM Year ended December 31, 2016 % % Year ended December 31, 2017 15 % 10 % Year ended December 31, 2018 N/a N/a Discount rates The discount rates listed out in the table above were based on the weighted average cost of capital, which was determined based on a consideration of the factors including risk‑free rate, comparative industry risk, equity risk premium, company size and non‑systemic risk factors. Comparable companies In deriving the weighted average cost of capital used as the discount rates under the income approach, certain publicly traded companies were selected for reference as our guideline companies. The guideline companies were selected based on the following criteria: (i) they operate in the used car e‑commerce industry and (ii) their shares are publicly traded in the United States. Discount for lack of marketability, or DLOM. The Finnerty’s Average Strike put options model was used. In this model, the cost of the put option, which can hedge the price change before the privately held shares can be sold, was considered as a basis to determine the DLOM. This option pricing method was used because it takes into account certain company‑specific factors, including the timing of the expected initial public offering and the volatility of the share price of the guideline companies engaged in the same industry. The income approach involves applying appropriate discount rates to estimated cash flows that are based on earnings forecasts. Our revenues and earnings growth rates, as well as major milestones that we have achieved. However, these fair values are inherently uncertain and highly subjective. The assumptions used in deriving the fair values are consistent with our business plan. These assumptions include: no material changes in the applicable future periods in the existing political, legal, fiscal or economic conditions in China; no material changes will occur in the current taxation law in China and the applicable tax rates will remain consistent; we have the ability to retain competent management and key personnel to support our ongoing operations; and industry trends and market conditions for the used car e‑commerce businesses will not deviate significantly from current forecasts. These assumptions are inherently uncertain. d. Guarantee liabilities The fair value of the guarantee liability at loan inception is estimated by applying several different statistical methods allowing for the different features of loan products. The assumptions used are based on historical data and supplemented by market benchmarking. The time value of the estimated guarantee liabilities is recognized through discounting which considers the duration of the future payment pattern. The selected discount rate is based on the one year benchmark interest rate published by The People’s Bank of China. Valuation Methodology · Paid Chain‑ladder Development (“PCD”) method The PCD method projects ultimate guarantee liability by using historical development patterns of cumulative loan default payments. The historical pattern is shown as the ratios of quarterly increases in cumulative payments by loan origination quarter. The methodology implicitly allows for future inflation as past inflation is included in the observed factors. The methodology implies that the past payment history is a good estimate for the future pattern of guarantee liability development, assuming stable pricing and claim pattern, and no significant changes in external factors. · Expected Delinquent Ratio (“EDR”) method The EDR method estimates the ultimate guarantee liability by applying the expected delinquent ratio to the total loan amount (total risk exposure). This is done for different product types and by different loan origination quarter. This method largely relies on the expected delinquent ratios used where the ratios are selected based on historical loss experiences of similar products in the market, future loss trends and etc. · Paid Bornhuetter‑Ferguson (“PBF”) method The PBF method is normally used in situations where the claims data is scarce and/or the loan origination quarters are less matured. The method assumes each loan origination quarter has an expected delinquent ratio at the outset with an expected pattern of the emergence of loan default payments. There are two major assumptions for this method: (a) The initial expected delinquent ratios which are selected following the same logic of the EDR method; (b) The expected portion of the ultimate yet to be paid which is derived from loan default payment patterns used in PCD method. The estimated ultimate guarantee liabilities from PBF method are then the sum of the following two: (a) Expected ultimate guarantee liabilities that have not been paid as at the valuation date: the product of initial expected ultimate guarantee liabilities, which are the product of the total loan amount and the selected initial expected ultimate delinquent ratio for each loan origination quarter, multiplied by the expected portion of the ultimate yet to be paid as at the valuation date; and (b) Actual paid claim amount as at the valuation date. · Life Cycle (“LC”) method The LC method first categorizes each loan by its maturity (the difference between the total loan periods and the remaining loan periods). By analyzing the historical claim data, we got the actual delinquent ratios for each loan maturity. The cumulative product of the actual delinquent ratios of each maturity is then the estimated ultimate delinquent ratio. The development to ultimate pattern of each loan maturity is just the following: The actual delinquent ratio at that maturity / The estimated ultimate delinquent ratio Using the above implied pattern, we simulate the development to ultimate pattern for each loan origination month. We then apply the corresponding development pattern to the specific loan origination month to derive the ultimate guarantee liability for that month Assumptions · Selected Payment Pattern for PCD and PBF Methods Payment patterns are selected for different product groups due to different risk factors. The largest development factor is observed in the second quarter where the amount of payment at end of first quarter tends to be 15 to 20 times more when reaching the end of second quarter. The development factors for payment matured two quarters and more are in the range of 1.65 to 1.01. · Initial Expected Delinquent Ratios for EDR and PBF Methods The initial expected delinquent ratios used in the EDR and PBF methods are the same and are selected based on the historical experiences and supplemented with industry benchmark. The range of initial expected delinquent ratios are generally between 4% and 5%. If there are any abnormal loss events, the initial expected delinquent ratio will be set at a higher level incorporating the actual abnormal loss experiences. · Discount Factors The discount factors are in the range of 0.96 to 1 for guarantee liabilities with different maturities. · Final Selection of Ultimate Delinquent Ratios The selected final ultimate delinquent ratios are weighted average of the estimated delinquent ratios from each valuation method applied, where the weights are based on the applicability of each valuation method and the historical pattern observed from the historical data: · Sufficient Historical Data For more matured quarters, more weights are given to the PCD method and LC method while for less matured quarters, more weights are given to the PBF method. This is in line with the applicability of each method. · Sparse Historical Data More weights are given to the EDR method as the loss pattern from the historical data are much less credible. However, when data becomes more and more credible, more weights will be given to other methods. · Collection Rate The collection rate used is 50%, 57% and 68% for the years ended December 31, 2016, 2017 and 2018, which is based on the historical experience supplemented with market benchmark.

NET LOSS PER SHARE

NET LOSS PER SHARE	12 Months Ended
	Dec. 31, 2018
NET LOSS PER SHARE
NET LOSS PER SHARE	29. NET LOSS PER SHARE Basic and diluted net loss per share for each of the years presented are calculated as follows: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Numerator: Net loss attributable to UXIN Limited (1,357,745) (2,722,596) (1,522,514) Accretion on convertible redeemable Preferred Shares (421,346) (555,824) (318,951) Deemed contribution from Preferred Shareholders 3,428 — — Deemed dividend to Preferred Shareholders — (587,564) (544,773) Deemed dividend from Preferred Shareholders — 92,779 — Net loss attributable to ordinary shareholders (1,775,663) (3,773,205) (2,386,238) Denominator: Weighted average number of ordinary shares outstanding, basic and diluted 49,174,850 49,318,860 477,848,763 Net loss per share attributable to ordinary shareholders: —Basic (36.11) (76.51) (4.99) —Diluted (36.11) (76.51) (4.99) For the year ended December 31, 2016, 2017 and 2018, assumed conversion of the Preferred Shares has not been reflected in the dilutive calculations pursuant to ASC 260, “Earnings Per Share,” due to the anti-dilutive effect. The effects of all outstanding share options and conversion of convertible notes have also been excluded from the computation of diluted loss per share for the year ended December 31, 2016, 2017 and 2018, respectively, as their effects would be anti-dilutive otherwise.

EMPLOYEE BENEFIT

EMPLOYEE BENEFIT	12 Months Ended
	Dec. 31, 2018
EMPLOYEE BENEFIT
EMPLOYEE BENEFIT	30. EMPLOYEE BENEFIT Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries, VIEs and VIEs’ subsidiaries of the Group make contributions to the government for these benefits based on certain percentage of the employees’ salaries, up to a maximum amount specified by the government. The Group has no legal obligation for the benefits beyond the contribution made. The total amounts charged to the Consolidated Statements of Comprehensive Loss for such employee benefits amounted to approximately RMB717.7 million, RMB1,275.9 million and RMB2,099.7 million for the year ended December 31,2016, 2017 and 2018.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2018
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	31. COMMITMENTS AND CONTINGENCIES Operating lease commitments The Group leases office under non‑cancelable operating lease agreements. Future minimum lease payments under non‑cancelable operating lease agreements with initial terms of one year or more consist of the following: As of December 31, 2018 RMB 2019 102,057 2020 51,969 2021 30,392 2022 26,913 2023 23,203 Thereafter 110,980 345,514 The total amounts charged to the Consolidated Statements of Comprehensive Loss for rental expense amounted to approximately RMB 102.5 million, RMB137.2 million and RMB201.8 million for the years ended December 31, 2016, 2017 and 2018. Contingencies In the ordinary course of business, the Group is from time to time involved in legal proceedings and litigations. During 2017, one competitor of the Group has filed lawsuits against the Group relating to disputes with respect to trademarks. In January 2019, the o ther competitor of the Group has filed lawsuits against the Group relating to disputes with respect to unfair competition. These cases are still at the preliminary stage, but the Group believes the claims are without merit and will defend these actions vigorously. The Group is unable, however, to predict the outcome of these cases, or reasonably estimate a range of possible loss, if any, given the current status of the litigation. No accrual has been recorded by the Group as of December 31, 2017 and 2018 in respect of these cases.

CONCENTRATION OF CREDIT RISK

CONCENTRATION OF CREDIT RISK	12 Months Ended
	Dec. 31, 2018
CONCENTRATION OF CREDIT RISK
CONCENTRATION OF CREDIT RISK	32. CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Group to the concentration of credit risks consist of cash and cash equivalents and advance to consumers on behalf of financing partners. The Group deposits its cash and cash equivalents with financial institutions located in jurisdictions where the subsidiaries are located. The Company believes that no significant credit risk exists as these financial institutions and financing partners have high credit quality. Substantially all revenue was derived from customers located in China. No single customer accounted for more than 10% of the Company’s consolidated revenue in any of the periods presented.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2018
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	33. SUBSEQUENT EVENTS The Company has evaluated the subsequent events through the date of issuance of these financial statement.

STATUTORY RESERVES AND RESTRICT

STATUTORY RESERVES AND RESTRICTED NET ASSETS	12 Months Ended
	Dec. 31, 2018
STATUTORY RESERVES AND RESTRICTED NET ASSETS
STATUTORY RESERVES AND RESTRICTED NET ASSETS	34. STATUTORY RESERVES AND RESTRICTED NET ASSETS Pursuant to laws applicable to entities incorporated in the PRC, the Group’s subsidiaries in the PRC must make appropriations from after‑tax profit to non‑distributable reserve funds. These reserve funds include one or more of the following: (i) a general reserve, (ii) an enterprise expansion fund and (iii) a staff bonus and welfare fund. Subject to certain cumulative limits, the general reserve fund requires an annual appropriation of 10% of after tax profit (as determined under accounting principles generally accepted in the PRC at each year‑end) until the accumulative amount of such reserve fund reaches 50% of a company’s registered capital; the other fund appropriations are at the subsidiaries’ discretion. These reserve funds can only be used for specific purposes of enterprise expansion and staff bonus and welfare and are not distributable as cash dividends. During the year ended December 31, 2016, 2017 and 2018, no appropriations to the statutory reserve, enterprise expansion fund and staff welfare and bonus fund have been made by the Group. In addition, due to restrictions on the distribution of share capital from the Group’s PRC subsidiaries and also as a result of these entities’ unreserved accumulated losses, total restrictions placed on the distribution of the Group’s PRC subsidiaries’ net assets was RMB978.2 million, or 41.1% of the Group’s total consolidated net assets as of December 31, 2018 (RMB779.3 million, or 326.05% as of December 31, 2017). The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S‑X Rule 4‑08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial statements for the parent company. The subsidiaries did not pay any dividend to the Company for the periods presented. For the purpose of presenting parent only financial information, the Company records its investments in its subsidiaries under the equity method of accounting. Such investments are presented on the separate condensed balance sheets of the Company as “investments deficit in subsidiaries” and the loss of the subsidiaries is presented as “share of loss of subsidiaries”. Certain information and footnote disclosures generally included in financial statements prepared in accordance with US GAAP have been condensed and omitted. The Company did not have significant capital and other commitments, long‑term obligations, or guarantees as of December 31, 2017 and 2018.

CONDENSED FINANCIAL INFORMATION

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	12 Months Ended
	Dec. 31, 2018
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	35. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY Balance sheets As of December 31, As of December 31, 2017 2018 RMB RMB ASSETS Current assets: Cash and cash equivalents 77,819 10,288 Short-term investment — 553,568 Prepaid expenses — 23,100 Amounts due from related parties 5,916,468 9,318,188 Other receivables 28,631 18,015 Total assets 6,022,918 9,923,159 LIABILITIES AND EQUITY Current liabilities Other payables and accruals 45,765 10,584 Investment deficit in subsidiaries 3,977,672 6,195,553 Amounts due to related parties — 90,251 Convertible notes — 1,188,192 Derivative liabilities 1,546,646 — Other current liabilities 163,355 64,446 Total liabilities 5,733,438 7,549,026 As of December 31, As of December 31, 2017 2018 RMB RMB Mezzanine equity Series A redeemable convertible preference shares (US$0.0001 par value, 50,000,000 shares authorized, issued and outstanding as of December 31, 2017) 94,411 — Series A-1 redeemable convertible preference shares (US$0.0001 par value, 4,910,890 shares authorized, issued and outstanding as of December 31, 2017) 69,193 — Series B convertible redeemable preferred shares (US$ 0.0001 par value, 70,602,630 shares authorized, issued and outstanding as of December 31, 2017) 180,294 — Series C convertible redeemable preferred shares (US$ 0.0001 par value, 97,267,680 shares authorized, issued and outstanding as of December 31, 2017) 408,559 — Series D convertible redeemable preferred shares (US$ 0.0001 par value, 159,355,150 shares authorized, issued and outstanding as of December 31, 2017) 1,703,667 — Series E convertible redeemable preferred shares (US$ 0.0001 par value, 89,477,490 shares authorized, issued and outstanding as of December 31, 2017) 1,146,351 — Series F convertible redeemable preferred shares (US$ 0.0001 par value, 85,162,200 shares authorized, issued and outstanding as of December 31, 2017) 1,563,657 — Series G convertible redeemable preferred shares (US$ 0.0001 par value, 130,384,730 shares authorized, issued and outstanding as of December 31, 2017) 3,214,932 — Redeemable non-controlling interests 39,580 — Total mezzanine equity 8,420,644 — Shareholders’ (deficit)/equity Ordinary shares (US$0.0001 par value, 1,312,839,230 shares and 10,000,000,000 shares authorized as of December 31, 2017 and 2018, respectively; 49,318,860 shares issued and outstanding as of December 31, 2017; 839,850,038 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2018) 30 575 Additional paid-in capital — 12,967,986 Accumulated other comprehensive income 76,607 86,061 Accumulated deficit (8,207,801) (10,680,489) Total shareholders’ (deficit)/equity (8,131,164) 2,374,133 Total liabilities, mezzanine equity and shareholders’ equity 6,022,918 9,923,159 Statements of comprehensive loss Year Ended Year Ended Year Ended December 31, 2016 December 31, 2017 December 31, 2018 RMB RMB RMB Total revenues — — 4,497 Cost of revenues — — (147) Gross profit — — 4,350 Operation expense Sales and marketing — — (34,591) Research and development — — (17,376) General and administrative (268,084) (171,172) (1,019,055) Total operating expenses (268,084) (171,172) (1,071,022) Loss from operations — — (1,066,672) Share of loss of subsidiaries and VIEs (994,542) (1,703,491) (1,641,754) Interest income/(expense), net 7,155 17,849 (25,262) Other (expense)/income, net (16) (14) 4,213 Foreign exchange gain 1,230 3,849 2,951 Fair value change of derivative liabilities (103,488) (869,617) 1,204,010 Net loss (1,357,745) (2,722,596) (1,522,514) Accretion on redeemable preferred shares to redemption value (421,346) (555,824) (318,951) Deemed contribution from Preferred Shareholders 3,428 — — Deemed dividend to Preferred Shareholders — (587,564) (544,773) Deemed dividend on Preferred Shareholders — 92,779 — Net loss attributable to ordinary shareholders (1,775,663) (3,773,205) (2,386,238) Net loss (1,357,745) (2,722,596) (1,522,514) Other comprehensive income Foreign currency translation (6,995) 46,065 11,406 Total comprehensive loss (1,364,740) (2,676,531) (1,511,108) Statements of cash flows Year Ended Year Ended Year Ended December 31, 2016 December 31, 2017 December 31, 2018 RMB RMB RMB Net cash (used in)/generated from operating activities (816) 6,080 (55,088) Net cash generated from/(used in) investing activities 144,064 102,577 (3,999,403) Net cash (used in)/generated from financing activities (143,835) (29,042) 3,982,230 Effect of exchange rate changes on cash and cash equivalents 34 (2,592) 4,730 Net (decrease)/increase in cash and cash equivalents (553) 77,023 (67,531) Cash and cash equivalents at beginning of the year 1,349 796 77,819 Cash and cash equivalents at end of the year 796 77,819 10,288

PRINCIPAL ACCOUNTING POLICIES (

PRINCIPAL ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
PRINCIPAL ACCOUNTING POLICIES
Basis of presentation	2.1 Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Significant accounting policies followed by the Group in the preparation of its accompanying consolidated financial statements are summarized below.
Basis of consolidation	2.2 Basis of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIEs and VIEs’ subsidiaries. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power; has the power to appoint or remove the majority of the members of the board of directors; to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. The Company applies the guidance codified in Accounting Standard Codification 810, Consolidations (“ASC 810”) on accounting for VIEs and their respective subsidiaries, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entity in which it has a controlling financial interest. A VIE is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support; (b) as a group, the holders of the equity investment at risk lack the ability to make certain decisions, the obligation to absorb expected losses or the right to receive expected residual returns, or (c) an equity investor has voting rights that are disproportionate to its economic interest and substantially all of the entity’s activities are on behalf of the investor. All transactions and balances between the Company, its subsidiaries, VIEs and VIEs’ subsidiaries have been eliminated upon consolidation. Variable interest entities In order to comply with PRC regulatory requirements restricting foreign ownership of internet information services under value‑added telecommunications services and certain other businesses in China, the Company operates online platforms that provide internet information services and engages in other foreign‑ownership‑restricted businesses through certain PRC domestic companies, whose equity interests are held by certain management members of the Company (“Nominee Shareholders”). The Company obtained control over these PRC domestic companies by entering into a series of Contractual Arrangements with these PRC domestic companies and their respective Nominee Shareholders. These contractual agreements cannot be terminated by the Nominee Shareholders or the PRC domestic companies. As a result, the Company which maintains the ability to control these PRC domestic companies is entitled to substantially all of the economic benefits from these PRC domestic companies and is obligated to absorb expected losses of these PRC domestic companies. Management concluded that these PRC domestic companies are VIEs of the Company, of which the Company is the ultimate primary beneficiary. As such, the Group consolidated financial results of these PRC domestic companies and their subsidiaries. The principal terms of the agreements entered into amongst the VIEs, their respective shareholders and the Group’s subsidiaries (“Primary Beneficiaries”) are further described below. The Company primarily operated 2B and 2C online platforms through one of the VIEs, Youxin Hulian via the contractual agreements. In January 2015, the MIIT eliminates the restrictions on foreign ownership in the SHFTZ Notice for enterprises in Shanghai Pilot Free Trade Zone that provide online data processing and transaction processing services (operating E‑commerce) under value‑added telecommunications services. Certain of our eligible WFOE and subsidiary of WFOE, Yougu and Youhan, have applied for and obtained the VATS Licenses to conduct E‑commerce in 2015 and 2016, and they have been operating our 2B and 2C online platforms since then. Currently, Youxin Hulian, Yishouche and Fengshun Lubao hold the VATS Licenses for internet information services to operate other online platforms of the Company and they may hold equity interests of subsidiaries conducting business that are restricted with foreign ownership. Loan Agreements Pursuant to the relevant loan agreements, the Group’s relevant PRC subsidiary has granted interest‑free loans to the relevant Nominee Shareholders of the relevant VIE with the sole purpose of providing funds necessary for the capital injection to the relevant VIEs. Only the Group’s relevant PRC subsidiary can require the Nominee Shareholder to settle the loan amount with the equity interests of relevant VIEs, subject to any applicable PRC laws, rules and regulations. And both parties have agreed that any proceeds from sale of the Nominee Shareholder’s equity interest in relevant VIE should be repaid to the Group’s relevant PRC subsidiary. The terms of the loan agreements are ten years and can be extended with the written consent of both parties before its expiration. Exclusive option agreements The Nominee Shareholders of the VIEs have granted the Group’s relevant PRC subsidiaries the exclusive and irrevocable right to purchase or to designate one or more person(s) at their discretion to purchase part or all of the equity interests in the VIEs from the Nominee Shareholders for a purchase price at any time, subject to the lowest price permitted by PRC laws and regulations. The VIEs and their Nominee Shareholders have agreed that without prior written consent of the Group’s relevant PRC subsidiaries, their respective Nominee Shareholders cannot sell, transfer, pledge or dispose their equity interests, and the VIEs cannot sell, transfer, pledge or dispose, but not limit to the equity interest, significant assets, significant revenue and significant business. Also as agreed, the VIEs cannot declare any dividend or change capitalization structure of the VIEs and cannot enter into any loan or investment agreements. Furthermore, the Nominee Shareholders have agreed that any proceeds but not limited to the sales of the Nominee Shareholders’ equity interest in relevant VIEs should be gratuitously paid to the Group’s relevant PRC subsidiaries or one or more person(s) at their discretion. Power of attorney Pursuant to the irrevocable power of attorney, each of the Nominee Shareholders appointed the Group’s relevant PRC subsidiaries as their attorney‑in‑fact to exercise all shareholder rights under PRC law and the relevant articles of association, including but not limited to, attending shareholders meetings, voting on their behalf on all matters requiring shareholder approval, including but not limited to sale, transfer, pledge, or disposition of all or part of the Nominee Shareholders’ equity interests, and designation and appointing the legal representative, directors, supervisors, chief executive officer and other senior management members of the VIEs. Each power of attorney will remain in force during the period when the Nominee Shareholders continue to be shareholders of the VIEs. Each Nominee Shareholder has waived all the rights which have been authorized to the person designated by the Group’s relevant PRC subsidiaries under each power of attorney. Exclusive business cooperation agreement Pursuant to the exclusive business cooperation agreement, the Group’s relevant PRC subsidiaries have agreed to provide to the VIEs services, including, but not limited to, development, maintenance and update software, design, installation, daily management, maintenance and updating of the network system, hardware and database design, marketing. The VIEs shall pay to the Group’s relevant PRC subsidiaries service fees determined based on the complexity and difficulty of the services, title of and time consumed by employees, contents and value of the services, operation conditions and market price of the service provided. The agreement shall remain in full force and effect unless terminated in accordance with the provisions of this Agreement or terminated in writing by the Group’s relevant PRC subsidiaries. Equity pledge agreements Pursuant to the relevant equity pledge agreements, the Nominee Shareholders of the VIEs have pledged all of their equity interests in relevant VIEs to the Group’s relevant PRC subsidiaries as collateral for all of their to direct, indirect and derivate losses and anticipated profits of the PRC subsidiaries incurred in the event of default and to secure their obligations under the above agreements. The relevant PRC subsidiaries are entitled to have any dividends based on the pledged equity interest in relevant VIEs. The Nominee Shareholders may not transfer or assign the equity interests, the rights and obligations in the equity pledge agreements and may not create or permit to create any pledges which may have an adverse effect on the rights or benefits of the Group’s relevant PRC subsidiaries without the Group’s relevant PRC subsidiaries’ pre‑approval. In addition, the Group’s relevant PRC subsidiaries are entitled to purchase at a discount, auction or sell the equity interests pledged and have priority to obtain the proceeds from above auctions or sales, if an event of default happens. The equity pledge agreements will expire only when the Nominee Shareholders have completed all their obligations under the above agreements. Risks in relation to the VIE structure In the opinion of the Company’s legal counsel, (i) the ownership structure relating to the VIEs of the Company is in compliance with existing PRC laws and regulations; and (ii) the contractual arrangements with the VIEs and their Nominee Shareholders are valid, binding and enforceable, and will not result in any violation of PRC laws or regulations currently in effect. However, uncertainties in the interpretation and application of current and future PRC laws, regulations and rules could cause the Company’s current ownership structure to be found in violation of any existing or future PRC laws or regulations and could limit the Company’s ability, through the Primary Beneficiaries, to enforce its rights under these contractual arrangements. Furthermore, Nominee Shareholders of the VIEs may have interests that are different with those of the Company, which could potentially increase the risk that they would seek to act in contrary to the terms of the aforementioned agreements. In addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future PRC law, the Company may be subject to penalties, which may include but not be limited to, the cancellation or revocation of the Company’s business and operating licenses, being required to restructure the Company’s operations or discontinue the Company’s operating activities. The imposition of any of these or other penalties may result in a material and adverse effect on the Company’s ability to conduct its operations. In such case, the Company may not be able to operate or control the VIEs, which may result in deconsolidation of the VIEs. In January 2015, the Ministry of Commerce (“MOFCOM”), released for public comment a proposed PRC law, the Draft Foreign Investment Enterprises (“FIE”) Law, that appears to include VIEs within the scope of entities that could be considered to be FIEs, that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. Specifically, the Draft FIE Law introduces the concept of “actual control” for determining whether an entity is considered to be an FIE. In addition to control through direct or indirect ownership or equity, the Draft FIE Law includes control through contractual arrangements within the definition of “actual control”. If the Draft FIE Law is passed by the People’s Congress of the PRC and goes into effect in its current form, these provisions regarding control through contractual arrangements could be construed to include the Group’s contractual arrangements with its VIEs, and as a result, the Group’s VIEs could become explicitly subject to the current restrictions on foreign investment in certain categories of industry. The Draft FIE Law includes provisions that would exempt from the definition of FIEs where the ultimate controlling shareholders are either entities organized under PRC law or individuals who are PRC citizens. The Draft FIE Law is silent as to what type of enforcement action might be taken against existing VIE, that operates in restricted or prohibited industries and is not controlled by entities organized under PRC law or individuals who are PRC citizens. If the restrictions and prohibitions on FIEs included in the Draft FIE Law are enacted and enforced in their current form, the Group’s ability to use the contractual arrangements with its VIEs and the Group’s ability to conduct business through the VIEs could be severely limited. There are, however, substantial uncertainties regarding the interpretation and application of current or future PRC laws and regulations. Accordingly, the Company cannot be assured that the PRC government authorities will not ultimately take a view that is contrary to the Company’s belief and the opinion of its PRC legal counsel. In March 2019, the draft Foreign Investment Law was submitted to the National People’s Congress for review and was approved on March 15, 2019, which will come into effect from January 1, 2020. The approved Foreign Investment Law does not touch upon the relevant concepts and regulatory regimes that were historically suggested for the regulation of VIE structures, and thus this regulatory topic remains unclear under the Foreign Investment Law. Since the Foreign Investment Law is new, there are substantial uncertainties exist with respect to its implementation and interpretation and the possibility that such entities will be deemed as foreign-invested enterprise and subject to relevant restrictions in the future shall not be excluded. If the contractual arrangements establishing the Company’s VIE structure are found to be in violation of any existing law and regulations or future PRC laws and regulations, the relevant PRC government authorities will have broad discretion in dealing with such violation, including, without limitation, levying fines, confiscating income or the income of affiliated Chinese entities, revoking business licenses or the business licenses of affiliated Chinese entities, requiring affiliated Chinese entities to restructure ownership structure or operations and requiring affiliated Chinese entities to discontinue any portion or all of value-added telecommunications, E-commerce and internet information services. Any of these actions could cause significant disruption to the Company’s business operations, and have a severe adverse impact on the Company’s cash flows, financial position and operating performance. If the imposing of these penalties cause the Company to lose its rights to direct the activities of and receive economic benefits from its VIEs, which in turn may restrict the Company’s ability to consolidate and reflect in its financial statements the financial position and results of operations of its VIEs. Pursuant to the contractual arrangements with the VIEs, the Company has the power to direct activities of the VIEs, and can have assets transferred freely out of the VIEs without any restrictions. Therefore, the Company considers there to be no assets of a consolidated VIE that can be used only to settle obligations of the VIE, except for registered capital of the VIEs amounting to a total of RMB134.4 million as of December 31, 2017 and RMB144.2 million as of December 31, 2018. As all the consolidated VIEs are incorporated as limited liability companies under the PRC Company Law, creditors of the VIEs do not have recourse to the general credit of the Company for any of the liabilities of the consolidated VIEs. The following table sets forth the assets, liabilities and results of operations and cash flows of the VIEs and their subsidiaries taken as a whole, which are included in the Group’s consolidated financial statements. Transactions between the VIEs and their subsidiaries are eliminated in the balances presented below: December 31, December 31, 2017 2018 RMB RMB Cash and cash equivalents 105,680 67,940 Amounts due from related parties 148,714 165,940 Accounts receivable 6,884 6,957 Other receivables, net 63,832 95,297 Inventory 71,248 2,120 Prepaid expense and other current assets 64,978 22,364 Long-term investments 25,421 27,427 Property, equipment and software, net 12,835 12,436 Intangible assets, net 2,703 17,295 Goodwill — 38,246 Total assets 502,295 456,022 Accounts payable 4,864 7,379 Amounts due to related parties 727,917 914,109 Current portion of long-term borrowings — 281 Deferred tax liability — 3,725 Other payables and accruals 402,945 249,841 Total liabilities 1,135,726 1,175,335 Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Total revenues 103,830 244,830 416,578 Cost of revenues (36,788) (130,099) (156,093) Net loss (9,253) (603,030) (85,882) Net cash generated from/(used in) operating activities 155,589 (584,072) (51,713) Net cash used in investing activities (17,037) (5,529) (67,516) Net cash (used in)/generated from financing activities (62,410) 604,314 81,489 Net increase/(decrease) in cash and cash equivalents 76,142 14,713 (37,740) Cash and cash equivalents at beginning of year 14,825 90,967 105,680 Cash and cash equivalents at end of year 105,680 67,940
Use of estimates	2.3 Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets, long‑lived assets and liabilities at the dates of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. On an ongoing basis, the Company’s management reviews these estimates based on information that is currently available. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the Group’s consolidated financial statements include, but are not limited to, the allowance for finance lease receivables, useful lives of property, equipment and software, amortization period of intangible assets, financial derivatives, guarantee liability, business combination, goodwill impairment and forfeiture rate of share‑based compensation.
Fair value measurements	2.4 Fair value measurements Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value: Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets Level 2 — Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data Level 3 — Unobservable inputs which are supported by little or no market activity Financial instruments of the Company primarily comprise of cash equivalents, short‑term investment, accounts receivable, finance lease receivables, short‑term borrowings, accounts payable, derivative liabilities, guarantee liabilities and deposit of interests collected from customers and payable to financing partners. As of December 31, 2017 and 2018, their carrying values approximated their fair values because of their generally short maturities. The fair value of the guarantee liabilities recorded at the inception of the loan was estimated based on the third‑party appraisal’s report.
Foreign currencies	2.5 Foreign currencies The Group uses Renminbi (“RMB”) as its reporting currency. The USD (“US$”) is the functional currency of the Group’s entities incorporated in Cayman Islands, British Virgin Islands and Hong Kong, and the RMB is the functional currency of the Group’s PRC subsidiaries. Transactions denominated in other than the functional currencies are translated into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in other than the functional currency are translated at the balance sheet date exchange rate. The resulting exchange differences are recorded in the Consolidated Statements of Comprehensive Loss. The financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses are translated at the average exchange rates prevailing for the year. Foreign currency translation adjustments arising from these are reflected in the accumulated other comprehensive income. The exchange rates used for translation on at the end of the year of 2017 and 2018 were US$1.00=RMB 6.5342 and RMB 6.8632, respectively, representing the index rates stipulated by the People’s Bank of China. Transactions of the Consolidated Balance Sheets, the Consolidated Statements of Comprehensive Loss and the Consolidated Statements of Cash Flows from RMB into US$ as of and for the year ended December 31, 2018 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.8632, representing the index rates stipulated by the People’s Bank of China. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2018, or at any other rate.
Cash and cash equivalents	2.6 Cash and cash equivalents Cash includes currency on hand and deposits held by financial institutions that can be added to or withdrawn without limitation. Cash equivalents represent short‑term, highly liquid investments that are readily convertible to known amount of cash and with original maturities from the date of purchase of generally three months or less.
Restricted cash and short-term investment	2.7 Restricted cash and short‑term investment Cash restricted as to withdrawal or for use or pledged as security is reported separately on the face of the Consolidated Balance Sheets, and is not included in the total cash and cash equivalents in the Consolidated Statements of Cash Flows. In the ordinary course of business, the third‑party financing partners offer financing solutions to buyers (the “Borrowers”) and the Company is required to provide a guarantee (Note 2.12 guarantee liabilities). As a result, the Company, as the guarantor, is required to maintain a separate guarantee fund, held as an escrow account with the third‑party financing partners. This guarantee fund is required to be maintained at a fixed percentage of the balance of all loans outstanding. As of December 31, 2017 and 2018, the restricted cash in relation to Guarantee represented 9.6% and 7.5% of the outstanding facilitated loan balance, respectively. Short‑term investments are mainly comprised of time deposits and investment products placed with banks with original maturities longer than three months but less than one year.
Inventory	2.8 Inventory Inventories comprise of new cars, GPS devices, auto check equipments and others. Inventories are valued at the lower of cost or market. Cost of inventories is determined by the weighted‑average method. Adjustments are recorded to write down the carrying amount of any obsolete and excess inventory to its estimated net realizable value. The Group continually evaluates the recoverability based on assumptions about future customer demand and market conditions. The evaluation may take into consideration inventory aging, expected demand, anticipated sales price, and other factors. The write‑down is equal to the difference between the cost of inventory and the estimated market value based upon assumptions about future customer demand and market conditions. As of December 31, 2017, inventories mainly included GPS devices, auto check equipments and new cars of RMB2.5 million, RMB1.4 million and RMB72.6 million, respectively. As of December 31, 2018, inventories mainly included GPS devices and auto check equipments of RMB8.1 million and RMB1.4 million, respectively.
Accounts receivable	2.9 Accounts receivable Accounts receivable are recorded at the invoiced amount and do not bear interest. The Group makes credit assessments of customers to assess the collectability of contract amounts prior to entering into contracts. The Group makes specific allowance for doubtful accounts when facts and circumstances indicate that the receivable is unlikely to be collected. The allowance of accounts receivable was nil as of December 31, 2017 and 2018.
Advance to consumers on behalf of financing partners	2.10 Advance to consumers on behalf of financing partners The Group facilitates loans extended by third‑party financing partners to consumers through its online platform. The Group started to cooperate with third‑party financing partners beginning September 2015. From September 2015, the third‑party financing partners provided all the funds for the consumer loans, while the Group provides services to facilitate such financing transactions. Pursuant to the cooperation agreements entered into with third‑party financing partners, for the purpose of registering the collaterals over the cars purchased by consumers with relevant government authorities, the Group advances the funds needed to purchase the car to the consumer on financing partners’ behalf to the applicable car dealers directly. The balance represents a legal claim of the Group from third‑party financing partners. The third‑party financing partners shall pay the corresponding amount to the Group as agreed in the corporation agreements. As of December 31, 2017 and 2018, the advances to consumers on behalf of financing partners were RMB827.4 million and RMB521.9 million, respectively.
Financial lease receivables	2.11 Financial lease receivables Financial lease receivables include dealer inventory financing receivables and receivables generated from finance lease arrangements. The Group provides short‑term inventory financing to certain selected car dealers. Those car dealers can apply and obtain loans through the Easy Loan program. The Group provides funding to the dealer and may in turn obtain financing from one of our financing partners to fund the Easy Loan program. In order to fund the Easy Loan program, the Group and a third‑party financing partner enter into a financing business cooperation agreement, which establishes that loans provided to dealers are made with direct connection to the financial lease contracts entered into between the Group and the dealers for the underlying cars. Accordingly, the Group is considered as the primary obligor in the lending relationship and therefore records the liabilities to the third‑party financing partner on its Consolidated Balance Sheets. Consequently, the Group considers that the financial lease receivables generated from financial lease contracts with car dealers are not settled or extinguished. Therefore, the Group continues to account for the financial lease receivables on its Consolidated Balance Sheets. The Group started to cooperate with third-party financing partners from September 2015. Before September 2015, the Group entered into finance lease arrangements with consumers who needed financing for car purchases. In late 2018, the Group started to provide funds in the form of financial lease agreements to selected Borrowers in addition to the financing facilitated by the Group for the purchase of the cars. Financial lease receivables are measured at amortized cost and reported on the Consolidated Balance Sheets at outstanding principal adjusted for the allowance for credit losses. Allowance for financial lease receivables is provided when the Group has determined the balance is impaired.
Guarantee liabilities	2.12 Guarantee liabilities The third‑party financing partners offer financing solutions to the Borrowers and the Company is required to provide a guarantee in the event of default. The financial guarantee is within the scope of ASC Topic 460, Guarantees. The portion of the contract consideration that relates to ASC 460 must first be allocated to the guarantee, with the residual portion of the transaction price being recorded under ASC Topic 606, “Revenue from Contracts with Customers”. The liability is recognized at fair value at the inception of the guarantee. Subsequent to the initial recognition of the guarantee liability, the Company’s guarantee obligations are measured in a combination of two components: (i) ASC 460 component and (ii) ASC 450 component. The liability recorded based on ASC 460 is determined on a contract‑by‑contract basis and is reduced as the Company is released from the underlying risk, meaning as the loan is repaid by the Borrower or when the financing partners are compensated in the event of a default. The liability is reduced only as the Company is released from the underlying risk. This component is a stand ready obligation which is not subject to the probable threshold used to record a contingent obligation. The other component is a contingent liability determined using historical experience of borrower defaults, representing the obligation to make future payments, measured using the guidance per ASC 450, Contingencies. Subsequent to the initial recognition, the guarantee obligation is measured at the greater of the amount determined per ASC 460 (guarantee liability) and the amount determined based on ASC 450 (contingent liability). As stated in ASC 460‑10‑35‑1, the guarantee liability should generally be reduced by recording a credit to net income as the guarantor is released from the guaranteed risk. Accordingly, the guarantee liability is recognized in “gains from guarantee liability” in the statements of comprehensive loss by a systematic and rational amortization method, e.g. over the term of the loan. As of December 31, 2017 and 2018, the amounts of maximum potential future payments that the Group could be required to make under the guarantee were RMB14.8 billion and RMB27.6 billion, respectively. Based on management assessment, the estimated value of collateral approximated amounts of maximum potential future payments.
Property, equipment and software, net	2.13 Property, equipment and software, net Property, equipment and software are stated at cost less accumulated depreciation and amortization. Depreciation and amortization is computed using the straight‑line method over the following estimated useful lives, taking into account any estimated residual value: Electronic equipment 3 years Furniture 5 years Vehicles and motors 4 years Software 5 years Leasehold improvement lesser of the term of the lease or the estimated useful lives of the assets The Company recognized the gain or loss on the disposal of property, equipment and software in the Consolidated Statements of Comprehensive Loss.
Intangible assets, net	2.14 Intangible assets, net Intangible assets represent software copyright and supplier relationship acquired. These intangible assets are carried at acquisition cost less accumulated amortization and amortized on a straight line basis over their estimated useful lives of the respective assets, which is usually 5 years. Separately identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable.
Goodwill	2.15 Goodwill In accordance with ASC 805 Business Combination, goodwill represents the excess of the purchase consideration over the fair value of assets and liabilities of businesses acquired. Goodwill is not amortized but is tested for impairment at the reporting unit level at least annually, or more frequently if events or changes in circumstances indicate that it might be impaired based on the requirements of ASC 350‑20. In accordance with the FASB guidance on “Testing of Goodwill for Impairment,” we have elected to perform a qualitative assessment to determine whether the two‑step impairment testing of goodwill is necessary. In this assessment, we consider primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. Based on the qualitative assessment, if it is more likely than not that the fair value of each reporting unit is less than the carrying amount, the quantitative impairment test is performed. Otherwise, no further testing is required. Recoverability of goodwill is evaluated using a two‑step process. In the first step, the fair value of a reporting unit is compared to its carrying value. If the fair value of a reporting unit exceeds the carrying value of the net assets assigned to a reporting unit, goodwill is considered not impaired and no further testing is required. If the carrying value of the net assets assigned to a reporting unit exceeds the fair value of a reporting unit, the second step of the impairment test is performed in order to determine the implied fair value of a reporting unit’s goodwill. Determining the implied fair value of goodwill requires valuation of a reporting unit’s tangible and intangible assets and liabilities in a manner similar to the allocation of purchase price in a business combination. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, goodwill is deemed impaired and is written down to the extent of the difference. The Company estimates total fair value of the reporting unit using discounted cash flow analysis, and makes assumptions regarding future revenue, gross margins, working capital levels, tax and cash flows of the reporting unit.
Long-term investments	2.16 Long-term investments In accordance with ASC 323 Investment—Equity Method and Joint Ventures, the Company accounts for an equity investment over which it has significant influence but does not own a majority of the equity interest or otherwise controls and the investments are either common stock or in substance common stock using the equity method. The Company’s share of the investee’s profit and loss is recognized in the earnings of the period. In accordance with ASC 325 Investment—Other, for equity investments which the Company does not have significant influence, and whose fair value is not readily determinable, the cost method accounting is applied. Gain or losses are realized when such investments are sold or when dividends are declared or payments are received. The Company assesses its equity investments for other‑than‑temporary impairment by considering factors as well as all relevant and available information including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends, and other company‑specific information such as financing situation. The Group also invests in convertible redeemable securities. These securities are reported at fair value, classified and accounted for as available-for-sale debt securities in investment securities. The treatment of a decline in the fair value of an individual security is based on whether the decline is other-than-temporary. The Group assesses its available-for-sale debt securities for other-than-temporary impairment by considering factors including, but not limited to, its ability and intent to hold the individual security, severity of the impairment, expected duration of the impairment and forecasted recovery of fair value. Investments classified as available-for-sale debt securities are reported at fair value with unrealized gains or losses, if any, recorded in accumulated other comprehensive income as a component of shareholders’ equity. If the Group determines a decline in fair value is other-than-temporary, the cost basis of the individual security is written down to fair value as a new cost basis and the amount of the write-down is accounted for as a realized loss charged in others, net in the Consolidated Statements of Comprehensive Loss. The fair value of the investment would not be adjusted for subsequent recoveries for increases in fair value.
Impairment of long-lived assets and intangible assets with definite lives	2.17 Impairment of long‑lived assets and intangible assets with definite lives Long‑lived assets including intangible assets with definite lives are assessed for impairment, whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable in accordance with ASC 360, Property, Plant and Equipment. The Company measures the carrying amount of long‑lived assets against the estimated undiscounted future cash flows associated with it. The impairment exists when the estimated undiscounted future cash flows are less than the carrying value of the asset being evaluated. Impairment loss is calculated as the amount by which the carrying value of the asset exceeds its fair value. No impairment of long‑lived assets was recognized for the years ended December 31, 2017 and 2018.
Deferred revenue	2.18 Deferred revenue Deferred revenue mainly represents warranty program provided by the Company. The program includes a 1‑year or 20,000 kilometer warranty, covering both maintenance and all major structural components. As of December 31, 2017 and 2018, the deferred revenue was RMB27.6 million and RMB115.2 million, respectively.
Revenue recognition	2.19 Revenue recognition The Group primarily engages in operating used car e‑commerce platforms through its mobile applications (Uxin Used Car / Uxin Auction) and websites (www.xin.com / www.youxinpai.com), facilitating used car transaction services and financing solutions offered by third‑party financing partners to buyers for their used car purchases. Revenue principally represents transaction facilitation revenue, loan facilitation revenue and others. The Group adopted ASC Topic 606, “Revenue from Contracts with Customers” for all periods presented. Consistent with the criteria of Topic 606, the Group recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. To achieve that core principle, an entity should apply five steps defined under Topic 606. The Group assesses its revenue arrangements against specific criteria in order to determine if it is acting as principal or agent. Revenue arrangements with multiple performance obligations are divided into separate units of accounting. Under the 2C business, for transactions with financing solutions attached, the Company identified three performance obligations – transaction facilitation services, loan facilitation services and warranty services. The Company therefore considered the appropriate method to allocate the transaction price to each performance obligation based on the relative standalone selling prices of the services being provided. The Company does not sell all these services separately, and therefore, in estimating the standalone selling price for services that are not directly observable, the Company considered the suitable methods included in ASC 606‑10‑21‑34, and determined the adjusted market assessment approach is the most appropriate method. When estimating the relative standalone selling prices, the Group considers selling prices of similar services. Revenue is recognized upon transfer of control of promised goods or services to a customer. The Group, from time to time, provides cash incentives to both buyers and sellers. These incentives are given in the form of either a cash bonus to sellers or a discount coupon to buyers, and are applied to the same transaction. As these incentives were provided without any distinct good or service in return, these incentives have been recorded as reduction of revenue, pursuant to the guidance under ASC 606. Revenue is recorded net of cash incentives and value‑added‑tax collected from customers, which are subsequently remitted to government authorities. 2C The Company’s online platform and offline infrastructure facilitates used car dealers to list and sell their used cars to individual consumers via cross-regional service and intra-regional service. The Company started its cross-regional transaction facilitation service in the first quarter of 2018. The cross-regional transaction facilitation services help individual consumers complete their purchases of cars without having the consumers physically inspect the cars on-site, which primarily apply for the transactions when the consumers are located in different cities from where the cars are located; whereas intra-regional transaction facilitation services cater to local individual consumers. The Group’s offline infrastructure provides consumers with vehicle inspection, payment and settlement, delivery and fulfilment services, and warranty services. The Group does not charge transaction facilitation services fees to car dealers for certain transactions without financing solutions attached. For those transactions with financing solutions offered by third-party financing partners, the Group has identified three performance obligations – transaction facilitation services, loan facilitation services and warranty services. The revenue relating to warranty services is deferred and recognized over the warranty period as the Company stands ready to perform during that period. The transaction facilitation revenue is recognized at a point in time when the service is rendered, which occurs upon the completion of the successful transaction. The Group earns loan facilitation revenue from the Borrowers along with the cross-regional and intra-regional transaction facilitation services. The Group provides intermediary matching services to both the Borrowers and the third-party financing partner, which the Group describes as a loan facilitation service. The performance obligation is satisfied at a point in time upon completion of a transaction, and the loan facilitation revenue is recognized accordingly when the service is rendered. 2B Launched in 2011, the Company’s 2B business, Uxin Auction(“ 优信拍 ” ), caters to business buyers with a comprehensive suite of solutions, connecting businesses with one another across China, helping them source vehicles, optimizing their turnover and facilitating cross-regional transactions. Business sellers include used car dealers, 4S dealership, which are dealerships that are authorized to sell the products of a single brand of automobiles and provide key automobile-related services, car rental companies, auto manufactures and large corporation that may need to dispose of large fleets of used cars. Cars are sold through Uxin Auction through online auctions. The Group earns transaction facilitation income upon each successful close of an auction from buyers. Transaction facilitation income, which is a certain percentage of the selling price of the underlying car or a minimum amount is recognized at a point in time following the transfer of control of such services to the customer, which occurs upon the completion of a successful transaction. As the Company does not assume inventory risk for the used cars, it is considered to be an agent in accordance with ASC 606. Accordingly, the Company recognizes the transaction facilitation income when the performance obligation is satisfied. Others Other revenue is mainly comprised of sales of new cars, commission of salvage cars sales, interest income of financial lease, etc. The revenue from sales of new cars is recognized when title of the cars is transferred to buyer. Commission income of salvage cars sales is charged to buyers and recognized upon completion of the transaction. Prior to September 2015, the Group provided funds to consumers in the form of financial lease agreements. The Group also provides Easy Loan program to selected dealers in the form of financial lease agreements. In late 2018, the Group started to provide funds in the form of financial lease agreements to selected Borrowers in addition to the financing facilitated by the Group for the purchase of the cars. In these arrangements, the Group is considered the originator of the financing and held such creditor’s rights. The Group generates interest income from these arrangements. Interest income is recognized on a time proportion basis, taking into account of the principal outstanding and the effective interest rate over the period to maturity, which is determined that such income will accrue by the Group. Remaining performance obligations Revenue allocated to remaining performance obligations represents that portion of the overall transaction price that has been received (or for which the Group has an unconditional right to payment) allocated to performance obligations that the Group has not yet fulfilled, which is presented as deferred revenue that has not yet been recognized. As of December 31, 2018, the aggregate amount of the transaction price allocated to remaining performance obligations was RMB115.2 million, reflecting the Group’s remaining obligations. The Group expects to recognize approximately 100% of the revenue over the next 12 months.
Value-added-tax ("VAT") and surcharges	2.20 Value‑added‑tax (“VAT”) and surcharges The Company’s subsidiaries and VIEs are subject to value‑added tax and related surcharges on the revenues earned for services provided in the PRC. The applicable value‑added-tax rate for general VAT payers is set out in the following table. Type of service Applicable VAT rate (%) Sales of cars 17%/16% Transaction facilitation 6% Loan facilitation 6% Other services 6% The surcharges (i.e. urban construction and maintenance tax, educational surtax, local educational surtax), vary from 11% to 13% of the value‑added‑tax depending on the tax payer’s location. The surcharges are recorded in the cost of revenue in the Consolidated Statements of Comprehensive Loss.
Cost of revenues	2.21 Cost of revenues Cost of revenues primarily consists of salaries and benefits expenses, cost of title transfer and registration, delivery and logistics cost, rental for transaction centers, platform maintenance cost, GPS tracking device costs, cost of warranty services provided, and cost of new cars sold.
Sales and marketing expenses	2.22 Sales and marketing expenses Sales and marketing expenses primarily consist of salaries and benefits expenses for sales and marketing personnel, advertising and promotion expenses, rental expenses for selling stores. Advertising and promotion expenses primarily include branding advertisements, online traffic acquisition costs and costs incurred in other marketing activities. Advertising costs are expensed as incurred and the total amounts charged to the Consolidated Statements of Comprehensive Loss amounted to approximately RMB394.9 million, RMB1,308.2 million and RMB1,152.6 million for the years ended December 31, 2016, 2017 and 2018, respectively.
Research and development expenses	2.23 Research and development expenses Research and development expenses primarily consist of salaries and benefits expenses, fees for outsourced technical services and depreciation of servers and computers relating to research and development. All research and development costs are expensed as incurred. Software development costs required to be capitalized under ASC 350‑40, Internal‑Use Software, were not material to our consolidated financial statements.
General and administrative expenses	2.24 General and administrative expenses General and administrative expenses primarily consist of salaries and benefits and share‑based compensation for employees engaged in management and administration positions or involved in general corporate functions, office rental, professional service fees and depreciation.
Share-based compensation	2.25 Share‑based compensation The Company follows ASC 718 to determine whether a share option or a restricted share unit should be classified and accounted for as a liability award or equity award. All grants of share‑based awards to employees and directors classified as equity awards are recognized in the financial statements based on their grant date fair values which are calculated using an option pricing model. The Company classifies the share‑based awards granted to employees as equity award, and has elected to recognize compensation expense on share‑based awards with service condition on a graded vesting basis over the requisite service period, which is generally the vesting period. Under ASC 718, the Company applies the Binominal option pricing model in determining the fair value of options granted. ASC 718 requires forfeiture rates to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. Share‑based compensation expense is recorded net of estimated forfeitures such that expense is recorded only for those share‑based awards that are expected to vest.
Taxation	2.26 Taxation Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carries forwards and credits. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be received or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the statement of comprehensive loss in the period of the enactment of the change. The Group considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry‑forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry‑forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group has considered possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry‑forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry. The Group recognizes a tax benefit associated with an uncertain tax position when, in its judgment, it is more likely than not that the position will be sustained upon examination by a taxing authority. For a tax position that meets the‑more‑likely‑than‑not recognition threshold, the Group initially and subsequently measures the tax benefit as the largest amount that the Group judges to have a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority. The Group’s liability associated with unrecognized tax benefits is adjusted periodically due to changing circumstances, such as the progress of tax audits, case law developments and new or emerging legislation. Such adjustments are recognized entirely in the period in which they are identified. The Group’s effective tax rate includes the net impact of changes in the liability for unrecognized tax benefits and subsequent adjustments as considered appropriate by management. The Group classifies interest and penalties recognized on the liability for unrecognized tax benefits as income tax expense.
Business combinations and non-controlling interests	2.27 Business combinations and non‑controlling interests The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805 “Business Combinations.” The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the Consolidated Statements of Comprehensive Loss. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Comprehensive Loss. In a business combination achieved in stages, the Company remeasures the previously held equity interest in the acquire immediately before obtaining control at its acquisition date fair value and the remeasurement gain or loss, if any, is recognized in the Consolidated Statements of Comprehensive Loss. For the Company’s majority owned subsidiaries and consolidated VIEs, a non‑controlling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Company. When the non‑controlling interest is contingently redeemable upon the occurrence of a conditional event, which is not solely within the control of the Company, the non‑controlling interest is classified as mezzanine equity. Consolidated net loss on the Consolidated Statements of Comprehensive Loss includes net loss attributable to non‑controlling interests when applicable.
Loss per share	2.28 Loss per share Basic loss per share is computed by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period using the two‑class method. Under the two‑class method, the net loss is allocated between ordinary shares and other participating securities based on their participating rights. Net loss is not allocated to other participating securities if based on their contractual terms they are not obligated to share in the loss. Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of shares issuable upon the conversion of the preferred shares using the if‑converted method, and shares issuable upon the exercise of share options using the treasury stock method. Ordinary equivalent shares are not included in the denominator of the diluted loss per share calculation when inclusion of such shares would be anti‑dilutive.
Recent Accounting Pronouncements	2.29 Recent Accounting Pronouncements In January, 2016, the FASB issued ASU No. 2016-01 Financial Instruments—Overall (Subtopic 825-10) “Recognition and Measurement of Financial Assets and Financial Liabilities”. This accounting standard retains the current accounting for classifying and measuring investments in debt securities and loans, but requires equity investments to be measured at fair value with subsequent changes recognized in net income, except for those accounted for under the equity method or requiring consolidation. This guidance also changes the accounting for investments without a readily determinable fair value and that do not qualify for the practical expedient to estimate fair value. A policy election can be made for these investments whereby investment will be carried at cost and adjusted in subsequent periods for any impairment or changes in observable prices of identical or similar investments. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For all other entities the amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. The Company will apply the new standard beginning January 1, 2019 and recognize the changes in fair value for all equity investments measured at fair value through net income/(loss). For investments in equity securities lacking of readily determinable fair values, the Company will elect to use the measurement alternative defined as cost, less impairments, adjusted by observable price changes. The Company anticipates that the adoption of ASU 2016-01 will not have a significant impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires that a lessee should recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the balance sheet a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expenses for such lease generally on a straight-line basis over the lease term. The new leases standard also provides lessees with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component. If a lessee makes that accounting policy election, it is required to account for the non-lease components together with the associated lease component as a single lease component and to provide certain disclosures. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Entities were initially required to adopt the new leases standard using a modified retrospective transition method. Under that transition method, an entity initially applies the new leases standard (subject to specific transition requirements and optional practical expedients) at the beginning of the earliest period presented in the financial statements. In July 2018, the FASB issued ASU 2018-11, which provides another transition method in addition to the existing transition method by allowing entities to initially apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption consistent with preparers’ requests. The Group will adopt this new guidance using additional transition method to recognize a cumulative-effect adjustment to the opening balance of accumulated deficit beginning January 1, 2019 and interim periods in the year ended December 31, 2019. The Group estimates approximately RMB 250 million to RMB 300 million would be recognized as total right-of-use assets and total lease liabilities on consolidated balance sheets as of January 1, 2019. Other than disclosed, the Group does not expect the new standard to have a material impact on its remaining consolidated financial statements. In June 2016, the FASB amended guidance related to the impairment of financial instruments as part of ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. For public business entities that are U.S. Securities and Exchange Commission (SEC) filers, the amendments in this Update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. For all other entities, including not-for-profit entities and employee benefit plans within the scope of Topics 960 through 965 on plan accounting, the amendments in this Update are effective for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. All entities may adopt the amendments in this Update earlier as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company elected to adopt this new guidance for the years ended December 31, 2020 and interim periods in the year ended December 31, 2020. The guidance replaces the incurred loss impairment methodology with an expected credit loss model for which the Company is required to recognize an allowance based on its estimate of expected credit loss. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 provides guidance for targeted changes with respect to how cash receipts and cash payments are classified in the statements of cash flows, with the objective of reducing diversity in practice. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. The Company elected to adopt this new guidance as non-public entity for the years ended December 31, 2019 and interim periods in the year ended December 31, 2020. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) (“ASU 2016-18”). This ASU affects all entities that have restricted cash or restricted cash equivalents and are required to present a statement of cash flows under Topic 230. ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. The Company elected to adopt this new guidance as non-public entity for the years ended December 31, 2019 and interim periods in the year ended December 31, 2020. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04 Intangibles—Goodwill and Other (Topic 350). Under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The Board also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. A public business entity that is a U.S. Securities and Exchange Commission (SEC) filer should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. A public business entity that is not an SEC filer should adopt the amendments in this Update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2020. All other entities, including not-for-profit entities, that are adopting the amendments in this Update should do so for their annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2021. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company elected to adopt this new guidance for the years ended December 31, 2020 and interim periods in the year ended December 31, 2020. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements. In February 2017, the FASB issued ASU No. 2017-05 Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20). The amendments in this Update clarify that a financial asset is within the scope of Subtopic 610-20 if it meets the definition of an in substance nonfinancial asset. The amendments define the term in substance nonfinancial asset, in part, as a financial asset promised to a counterparty in a contract if substantially all of the fair value of the assets (recognized and unrecognized) that are promised to the counterparty in the contract is concentrated in nonfinancial assets. If substantially all of the fair value of the assets that are promised to the counterparty in a contract is concentrated in non-financial assets, then all of the financial assets promised to the counterparty are in substance nonfinancial assets within the scope of Subtopic 610-20. The amendments to this Update also clarify that nonfinancial assets within the scope of Subtopic 610-20 may include nonfinancial assets transferred within a legal entity to a counterparty. The amendments in this Update are effective at the same time as the amendments in Update 2014-09. For public entities, the amendments are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Public entities may apply the guidance earlier but only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. For all other entities, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual reporting periods beginning after December 15, 2019. All other entities may apply the guidance earlier as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company elected to adopt this new guidance as non-public entity for the years ended December 31, 2019 and interim periods in the year ended December 31, 2020. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements.

PRINCIPAL ACTIVITIES AND ORGA_2

PRINCIPAL ACTIVITIES AND ORGANIZATION (Tables)	12 Months Ended
	Dec. 31, 2018
PRINCIPAL ACTIVITIES AND ORGANIZATION
Schedule of principal subsidiaries and VIEs	Date of Percentage of Place of incorporation or direct or Principal Subsidiaries incorporation acquisition indirect activities Youxinpai (Beijing) Information Technology Co., Ltd. Beijing June 15, 2012 100 % Used car auction Youhan (Shanghai) Information Technology Co., Ltd. Shanghai December 25, 2015 100 % Used car auction Kai Feng Finance Lease (Hangzhou) Co., Ltd. Hangzhou March 25, 2013 100 % Loan facilitation Bo Yu Finance Lease (Tianjin) Co., Ltd. Tianjin March 6, 2015 100 % Loan facilitation Yougu (Shanghai) Information Technology Co., Ltd. Shanghai March 13, 2015 100 % Transaction service Youzhen (Beijing) Business Consulting Co., Ltd. Beijing March 28, 2016 100 % Transaction service Youxin (Shanghai) Second Hand Car Business Co., Ltd. Shanghai January 26, 2016 100 % Transaction service Beijing Youxin Fengshun Lubao Vehicle* Auction Co., Ltd. Beijing March 13, 2015 94.94 % Salvage car auction Youxin (Shanxi) Technology Information Co., Ltd. Xi’an April 27, 2018 % Transaction service As of December 31, 2018, the Company’s principal subsidiaries and consolidated VIEs are as follows: Date of Percentage VIEs Place of incorporation or of direct Principal Subsidiaries incorporation acquisition or indirect activities Youxin Internet (Beijing) Information Technology Co., Ltd. Beijing August 11, 2011 99.99 % Auction platform Beijing Fengshun Lubao* Automotive Auction Co., Ltd. Beijing June 10, 2011 94.94 % Salvage car auction Youxin Yishouche (Beijing) Information Technology Co., Ltd. Beijing March 12, 2015 99.99 % Transaction service *

PRINCIPAL ACCOUNTING POLICIES_2

PRINCIPAL ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2018
PRINCIPAL ACCOUNTING POLICIES
Schedule of assets, liabilities, results of operations and cash flows of the VIEs and their subsidiaries	Transactions between the VIEs and their subsidiaries are eliminated in the balances presented below: December 31, December 31, 2017 2018 RMB RMB Cash and cash equivalents 105,680 67,940 Amounts due from related parties 148,714 165,940 Accounts receivable 6,884 6,957 Other receivables, net 63,832 95,297 Inventory 71,248 2,120 Prepaid expense and other current assets 64,978 22,364 Long-term investments 25,421 27,427 Property, equipment and software, net 12,835 12,436 Intangible assets, net 2,703 17,295 Goodwill — 38,246 Total assets 502,295 456,022 Accounts payable 4,864 7,379 Amounts due to related parties 727,917 914,109 Current portion of long-term borrowings — 281 Deferred tax liability — 3,725 Other payables and accruals 402,945 249,841 Total liabilities 1,135,726 1,175,335 Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Total revenues 103,830 244,830 416,578 Cost of revenues (36,788) (130,099) (156,093) Net loss (9,253) (603,030) (85,882) Net cash generated from/(used in) operating activities 155,589 (584,072) (51,713) Net cash used in investing activities (17,037) (5,529) (67,516) Net cash (used in)/generated from financing activities (62,410) 604,314 81,489 Net increase/(decrease) in cash and cash equivalents 76,142 14,713 (37,740) Cash and cash equivalents at beginning of year 14,825 90,967 105,680 Cash and cash equivalents at end of year 105,680 67,940
Schedule of estimated useful lives of property, equipment and software	Electronic equipment 3 years Furniture 5 years Vehicles and motors 4 years Software 5 years Leasehold improvement lesser of the term of the lease or the estimated useful lives of the assets
Schedule of value-added tax rate for general VAT payers	Type of service Applicable VAT rate (%) Sales of cars 17%/16% Transaction facilitation 6% Loan facilitation 6% Other services 6%

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)	12 Months Ended
	Dec. 31, 2018
Chefang
BUSINESS COMBINATION
Schedule of estimated aggregate fair values of the assets acquired and liabilities assumed	As of May 31, 2017 RMB Fair value of previously held equity interests 6,973 Purchase consideration to achieve control 3,000 Total purchase consideration 9,973 Cash and cash equivalents 3,659 Accounts receivable, net 57 Other receivables, net 4,439 Inventory 46 Prepaid expense and other current assets 233 Property, equipment and software, net 3,151 Total assets 11,585 Accounts payable (499) Other payables and accruals (523) Total liabilities (1,022) Fair value of net asset acquired 10,563 Non-controlling interests 8,342 Goodwill 7,752
Baogu
BUSINESS COMBINATION
Schedule of estimated aggregate fair values of the assets acquired and liabilities assumed	As of August 31, 2017 RMB Fair value of previously held equity interests 1,714 Purchase consideration to achieve control 4,000 Fair value of total consideration 5,714 Cash and cash equivalents 307 Accounts receivable, net 12,621 Other receivables, net 7,352 Prepaid expenses and other current assets 4,083 Property, equipment and software, net 107 Total assets 24,470 Accounts payable (280) Deferred revenue (21,959) Other payables and accruals (691) Total liabilities (22,930) Fair value of net assets acquired 1,540 Goodwill 4,174
Dongwang
BUSINESS COMBINATION
Schedule of estimated aggregate fair values of the assets acquired and liabilities assumed	As of June 1, 2018 RMB Cash consideration 62,994 Fair value of ordinary shares of Fairlubo (US$0.0001 par value, 20,225,145 shares) 1,993 Total purchase consideration 64,987 Cash and cash equivalents 743 Accounts receivable, net 811 Other receivables, net 36,961 Amount due from related party 21,486 Prepaid expense and other current assets 887 Property, equipment and software, net 3,334 Intangible asset 16,850 Total assets 81,072 Accounts payable (1,792) Other payables and accruals (48,326) Deferred tax liabilities (4,213) Total liabilities (54,331) Fair value of net asset acquired 26,741 Goodwill 38,246

REDEEMABLE NON-CONTROLLING IN_2

REDEEMABLE NON-CONTROLLING INTERESTS (Tables)	12 Months Ended
	Dec. 31, 2018
REDEEMABLE NON-CONTROLLING INTERESTS
Schedule of Fair values of the conversion features which required to be bifurcated and accounted for as derivative liabilities	As of December 31, December 31, 2017 2018 RMB RMB Derivative liabilities - Share Swap feature of redeemable non-controlling interests 119,086 — Derivative liabilities - Redemption feature of redeemable non-controlling interests 49,778 — 168,864 —

ADVANCE TO CONSUMERS ON BEHAL_2

ADVANCE TO CONSUMERS ON BEHALF OF FINANCING PARTNERS (Tables)	12 Months Ended
	Dec. 31, 2018
ADVANCE TO CONSUMERS ON BEHALF OF FINANCING PARTNERS
Schedule of advance to consumers on behalf of financing partners	As of December 31, December 31, 2017 2018 RMB RMB Advance to consumers on behalf of financing partners 827,417 521,908

LOAN RECOGNIZED AS A RESULT O_2

LOAN RECOGNIZED AS A RESULT OF PAYMENT UNDER THE GUARANTEE (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of allowance for doubtful accounts	Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Balance at beginning of the year (324,883) (518,498) (957,811) Changes of valuation allowance (193,615) (439,313) (294,442) Balance at end of the year (518,498) (957,811) (1,252,253)
Loans receivable
Schedule of loan recognized as a result of payment under the guarantee	As of December 31, December 31, 2017 2018 RMB RMB Loan recognized as a result of payment under the guarantee 441,860 810,327 Less: allowance for doubtful accounts (189,305) (256,639) 252,555 553,688
Schedule of allowance for doubtful accounts	Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Beginning — (7,222) (189,305) Addition (6,893) (184,586) (257,953) Adjustment (i) (711) (13,103) 152,862 Write-off 382 15,606 37,757 Ending (7,222) (189,305) (256,639) (i) On a normal basis, adjustments occur when either further revaluations of allowance for doubtful accounts are considered necessary therefore adjustments of provisions are needed, or settlements from the Borrowers are received to reverse the balances. Adjustments may also occur when certain loans recognized as a result of payments under the guarantees are bought out by certain new non-bank financing institutions without any recourse terms in 2018.

ADVANCE TO SELLERS (Tables)

ADVANCE TO SELLERS (Tables)	12 Months Ended
	Dec. 31, 2018
ADVANCE TO SELLERS
Schedule of advances to sellers	As of December 31, December 31, 2017 2018 RMB RMB Advance to sellers 246,287 692,714

OTHER RECEIVABLES, NET (Tables)

OTHER RECEIVABLES, NET (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of movement of valuation allowance	Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Balance at beginning of the year (324,883) (518,498) (957,811) Changes of valuation allowance (193,615) (439,313) (294,442) Balance at end of the year (518,498) (957,811) (1,252,253)
Other receivables
Schedule of other receivables, net	As of December 31, December 31, 2017 2018 RMB RMB Deposits in non-bank financing partners (i) 52,000 502,550 Rental and other deposits 79,098 77,902 Staff advance 22,940 55,652 Receivables from third-party payment settlement platform 78,856 34,787 Others 19,027 42,970 251,921 713,861 Less: allowance for doubtful accounts (272) (6,457) 251,649 707,404 (i)
Schedule of movement of valuation allowance	Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB At the beginning of year — (269) (272) Addition (269) (3) (23,608) Write-off — — 17,423 At the ending of year (269) (272) (6,457)

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Table)	12 Months Ended
	Dec. 31, 2018
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Schedule of prepaid expenses and other current assets	As of December 31, December 31, 2017 2018 RMB RMB Prepaid marketing expense 56,745 218,145 VAT-input deductible 80,589 64,237 Prepaid rental expense 57,188 46,581 Prepaid consulting and professional service fees 10,809 37,236 Prepaid non-banking financing partners service fees 18,607 26,295 Others 25,831 24,820 249,769 417,314

FINANCIAL LEASE RECEIVABLES (Ta

FINANCIAL LEASE RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of aging analysis of past due financing lease receivables	The following presents the aging of past‑due financial lease receivables as of December 31, 2017: 1-90 days Above 90 days Total past due Current Total RMB RMB RMB RMB RMB Financial lease receivables due from car dealers — — — 432,491 432,491 Financial lease receivables due from consumers 2,808 7,619 10,427 — 10,427 2,808 7,619 10,427 432,491 442,918 The following present the aging of past‑due financial lease receivables as of December 31, 2018: 1-90 days Above 90 days Total past due Current Total RMB RMB RMB RMB RMB Financial lease receivables due from car dealers — — — 239,854 239,854 Financial lease receivables from consumers — 7,748 7,748 53,799 61,547 — 7,748 7,748 293,653 301,401
Schedule of components of the net investment in financial lease receivables	As of December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Total minimum lease payments to be received (i) 419,673 446,163 303,273 Less: Allowance for uncollectibles (2,624) (4,225) (6,890) Net minimum lease payments receivable 417,049 441,938 296,383 Less: unearned income (3,587) (3,245) (1,872) Net investment in direct financing and sales-type leases 413,462 438,693 294,511 (i) As of December 31, 2016, 2017 and 2018, all of the minimum lease payments would be paid in a year. There is no contingent rental for the year ended December 31, 2016, 2017 and 2018, respectively.
Financing lease receivable
Schedule of financial lease receivables	As of December 31, December 31, December 31, 2016 2017 2018 RMB RMB Financial lease receivables due from car dealers 355,574 432,491 239,854 Financial lease receivables due from consumers 60,512 10,427 61,547 Less: allowance for doubtful accounts (2,624) (4,225) (6,890) 57,888 6,202 54,657 Financial lease receivables, net 413,462 438,693 294,511

PROPERTY, EQUIPMENT AND SOFTW_2

PROPERTY, EQUIPMENT AND SOFTWARE, NET (Tables)	12 Months Ended
	Dec. 31, 2018
PROPERTY, EQUIPMENT AND SOFTWARE, NET
Schedule of property, equipment and software, net	As of December 31, December 31, 2017 2018 RMB RMB Cost Computer equipment 125,962 194,513 Leasehold improvement 106,947 147,704 Software 19,198 23,500 Furniture 13,638 19,611 Vehicle and motor 7,754 12,220 Construction in progress 18,082 13,629 Total property, equipment and software 291,581 411,177 Less: accumulated depreciation and amortization Computer equipment (56,528) (90,134) Leasehold improvement (64,203) (100,269) Software (4,418) (6,523) Furniture (5,706) (8,037) Vehicle and motor (4,101) (6,943) Total accumulated depreciation and amortization (134,956) (211,906) Net book value 156,625 199,271

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2018
INTANGIBLE ASSETS, NET
Schedule of intangible assets, net	As of December 31, December 31, 2017 2018 RMB RMB Supplier relationship 9,400 18,200 Software copyright 3,000 7,000 Others 5,952 10,002 Total intangible assets 18,352 35,202 Less: amortization (8,403) (14,023) Net book value 9,949 21,179
Schedule of estimated amortization expense for intangible assets subject to amortization	As of December 31, 2018 RMB 2019 6,877 2020 5,661 2021 3,850 2022 3,370 2023 1,421 21,179

LONG-TERM INVESTMENTS (Tables)

LONG-TERM INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
LONG-TERM INVESTMENTS
Schedule of long-term investments	As of December 31, December 31, 2017 2018 RMB RMB Available-for-sales debt security investment Orange Inc. 39,205 41,179 Equity method investments Jincheng Consumer Finance (Sichuan) Co., Ltd. (“Jincheng”) — 236,642 Weiche Information Technology Co., Ltd. (“Weiche”) — 2,006 — 238,648 Cost method investments ClearVue Pony Holdings Limited. (“ClearVue Pony”) — 68,632 Bai’an Online Property Insurance Co., Ltd. (“Bai’an”) 1,423 1,423 1,423 70,055 Total long-term investments 40,628 349,882

OTHER NON-CURRENT ASSETS (Table

OTHER NON-CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2018
OTHER NON-CURRENT ASSETS
Schedule of other non-current assets	As of December 31, December 31, 2017 2018 RMB RMB Prepayment of long-term investment 112,902 —

SHORT TERM AND LONG TERM BORROW

SHORT TERM AND LONG TERM BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2018
SHORT-TERM AND LONG TERM BORROWINGS
Schedule of short term and long term borrowings from commercial banks or other institutions	As of As of Fixed annual December 31, December 31, Funding Partners interest rate Term 2017 2018 RMB RMB Short-term borrowings 4.8%-12.0% within 12 months 320,877 325,715 Current portion of long-term borrowings 5.2%-9.6% mature in 2019 105,906 298,873 Long-term borrowings 5.0%-6.4% 2 - 4 years 374,104 481,801 800,887 1,106,389

GUARANTEE LIABILITIES (Tables)

GUARANTEE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2018
GUARANTEE LIABILITIES
Schedule of movement of guarantee liabilities	Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Balance at the beginning of the year 493 76,325 173,907 Fair value of guarantee liabilities upon the inception of new guarantees 84,708 284,452 403,370 Guarantee settled (6,893) (184,586) (257,953) (Gains)/losses from guarantee liabilities (1,983) (2,284) 1,931 Balance at the end of the year 76,325 173,907 321,255

DEPOSIT OF INTERESTS FROM CON_2

DEPOSIT OF INTERESTS FROM CONSUMERS AND PAYABLE TO FINANCING PARTNERS (Tables)	12 Months Ended
	Dec. 31, 2018
DEPOSIT OF INTERESTS FROM CONSUMERS AND PAYABLE TO FINANCING PARTNERS
Schedule of deposit of interests from consumers and payable to financing partners.	As of December 31, December 31, 2017 2018 RMB RMB Deposit of interests from consumers and payable to financing partners 1,076,096 512,569 Less: current portion (732,273) (482,827) Non-current portion 343,823 29,742

ADVANCE FROM BUYERS COLLECTED_2

ADVANCE FROM BUYERS COLLECTED ON BEHALF OF SELLERS (Tables)	12 Months Ended
	Dec. 31, 2018
ADVANCE FROM BUYERS COLLECTED ON BEHALF OF SELLERS
Schedule of advance from buyers collected on behalf of sellers	As of December 31, December 31, 2017 2018 RMB RMB Advance from buyers collected on behalf of sellers 226,891 375,803

OTHER PAYABLES AND ACCRUALS (Ta

OTHER PAYABLES AND ACCRUALS (Tables)	12 Months Ended
	Dec. 31, 2018
OTHER PAYABLES AND ACCRUALS
Schedule of other payables and accruals	As of December 31, December 31, 2017 2018 RMB RMB Accrued advertising expenses 429,658 407,557 Deposits(i) 196,089 207,076 Accrued professional services and other expenses 40,932 129,203 Accrued salaries and benefits 143,777 185,597 Tax payables 50,637 102,324 Interest payable 4,610 61,434 Advance from customer 12,551 9,704 Others 49,135 94,405 927,389 1,197,300 (i) In order to participate the auction through the platforms, the participants are required to pay deposits to the Group. The deposits were interest free and have no fixed terms of repayment.

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2018
OTHER CURRENT LIABILITIES
Schedule of other current liabilities	As of December 31, December 31, 2017 2018 RMB RMB Prepayment from Apex Ease Limited 130,684 — Prepayment from Huangpu Investment Holding Limited 32,671 — 163,355 —

CONVERTIBLE NOTES (Tables)

CONVERTIBLE NOTES (Tables)	12 Months Ended
	Dec. 31, 2018
CONVERTIBLE NOTES
Schedule of convertible notes	As of December 31, December 31, 2017 2018 RMB RMB Convertible notes — 1,188,192

RELATED PARTY BALANCES AND TR_2

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2018
RELATED PARTY BALANCES AND TRANSACTIONS
Table sets forth the major related parties and their relationships with the Group	Name of related parties Relationship with the Group Xin Gao Group Ordinary shareholder and Preferred Shareholder of the Company, controlled by Mr. Kun Dai, Founder and CEO of the Group before June 27, 2018 and Class B ordinary shareholder of the Company after June 27, 2018 Gao Li Group Preferred Shareholder of the Company, controlled by Mr. Kun Dai, Founder and CEO of the Group before June 27, 2018 and Class A ordinary shareholder of the Company after June 27, 2018 Baidu (Hong Kong) Limited (“Baidu”) Preferred Shareholder of the Company before June 27, 2018 and Class A ordinary shareholder of the Company after June 27, 2018 Baogu An associate of the Group before August 31, 2017 Shanghai Xiao Qing Information Technology Co., Ltd. (“Xiao Qing”) An associate of the Group Chefang An associate of the Group before May 31, 2017 Mr. Kun Dai Founder and CEO of the Group
Schedules of related party balances and transactions, amounts due from related parties, and transactions with related parties	As of December 31, December 31, 2017 2018 RMB RMB Loan receivables Gao Li Group 379,073 — Xin Gao Group 134,011 — Mr. Kun Dai 94,630 — Prepaid expenses Baidu 577 — 608,291 — Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Service provided by the related parties Xiao Qing 3,497 1,503 — Baogu 7,312 10,747 — Baidu 16,355 780 1,391 27,164 13,030 1,391

INCOME TAX EXPENSE (Tables)

INCOME TAX EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2018
INCOME TAX EXPENSE
Schedule of current and deferred portions of income tax expense included in the Consolidated Statements of Comprehensive Loss	Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Current income tax expense (2,425) (1,190) (15,692) Deferred income tax credit 620 620 1,107 (1,805) (570) (14,585)
Schedule of Reconciliation of the differences between the statutory EIT rate applicable to losses of the consolidated entities and the income tax expenses	Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Loss before tax (1,381,484) (2,750,825) (1,526,331) Income tax computed at PRC statutory tax rate (345,371) (687,706) (381,583) Effect of different tax rate 18,402 6,709 (21,369) Non-deductible expense 131,549 241,114 93,925 Change of valuation allowance 193,615 439,313 294,442 (1,805) (570) (14,585)
Schedule of significant components of the deferred tax assets and liabilities	As of December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Deferred tax assets Net accumulated losses-carry forward 345,276 507,849 636,440 Deductible advertising expense 149,131 348,032 540,627 Accruals 17,496 93,732 68,271 Allowance 6,595 8,198 6,915 Less: valuation allowance (518,498) (957,811) (1,252,253) Net deferred tax assets — — — As of December 31, December 31, December 31, 2017 2017 2018 RMB RMB RMB Deferred tax liabilities Intangible assets arisen from business combinations 2,273 1,653 4,759
Schedule of movement of valuation allowance	Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Balance at beginning of the year (324,883) (518,498) (957,811) Changes of valuation allowance (193,615) (439,313) (294,442) Balance at end of the year (518,498) (957,811) (1,252,253)

CONVERTIBLE REDEEMABLE PREFER_2

CONVERTIBLE REDEEMABLE PREFERRED SHARES (Tables)	12 Months Ended
	Dec. 31, 2018
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Schedule of Fair values of the conversion features which required to be bifurcated and accounted for as derivative liabilities	As of December 31, December 31, 2017 2018 RMB RMB Derivative liability — conversion feature 1,427,560 —
Schedule of convertible redeemable Preferred Shares activities	Series A Shares Series A-1 Shares Series B Shares Series C Shares Number of Amount Number of Amount Number of Amount Number of Amount shares (RMB) shares (RMB) shares (RMB) shares (RMB) Balance as of January 1, 2016 50,000,000 81,385,584 — — 70,602,630 155,112,560 97,267,680 342,087,590 Issuance of Series A-1 Shares, net of issuance cost — — 4,910,890 57,941,529 — — — — Accretion on convertible redeemable preferred shares to redemption value — 6,480,973 — 4,652,709 — 12,483,871 — 33,082,269 Balance as of December 31, 2016 50,000,000 87,866,557 4,910,890 62,594,238 70,602,630 167,596,431 97,267,680 375,169,859 Issuance of Series A-1 Shares, net of issuance cost — — — — — — — — Accretion on convertible redeemable preferred shares to redemption value — 6,544,652 — 6,599,134 — 12,697,414 — 33,389,066 Balance as of December 31, 2017 50,000,000 94,411,209 4,910,890 69,193,372 70,602,630 180,293,845 97,267,680 408,558,925 Issuance of Series G-Plus Shares, net of issuance cost — — — — — — — — Accretion on convertible redeemable preferred shares to redemption value — 3,232,164 — 3,336,630 — 6,271,618 — 16,640,809 Repurchase of the surrender shares (3,313,980) (6,471,764) — — — — (8,424,970) (36,829,243) Convert to ordinary shares upon IPO (46,686,020) (91,171,609) (4,910,890) (72,530,002) (70,602,630) (186,565,463) (88,842,710) (388,370,491) Balance as of December 31, 2018 — — — — — — — — Series D Shares Series E Shares Series F Shares Series G Shares Series G-Plus Shares Number of Amount Number of Amount Number of Amount Number of Amount Number of Amount shares (RMB) shares (RMB) shares (RMB) shares (RMB) shares (RMB) Balance as of January 1, 2016 159,355,150 1,414,071,460 89,477,490 960,738,373 85,162,200 1,303,374,879 — — — — Accretion on convertible redeemable preferred shares to redemption value — 144,135,637 — 91,828,728 — 128,681,319 — — — — Balance as of December 31, 2016 159,355,150 1,558,207,097 89,477,490 1,052,567,101 85,162,200 1,432,056,198 — — — — Issuance of Series G Shares, net of issuance cost — — — — — — 130,384,730 3,089,182,344 — — Accretion on convertible redeemable preferred shares to redemption value — 145,460,002 — 93,783,794 — 131,600,542 — 125,749,958 — — Balance as of December 31, 2017 159,355,150 1,703,667,099 89,477,490 1,146,350,895 85,162,200 1,563,656,740 130,384,730 3,214,932,302 — — Issuance of Series G-Plus Shares, net of issuance cost — — — — — — — — 67,922,000 2,066,336,179 Accretion on convertible redeemable preferred shares to redemption value — 72,704,263 — 46,708,885 — 65,810,530 — 68,361,184 — 35,885,258 Convert to ordinary shares upon IPO (159,355,150) (1,776,371,362) (89,477,490) (1,193,059,780) (85,162,200) (1,629,467,270) (130,384,730) (3,283,293,486) (67,922,000) (2,102,221,437) Balance as of December 31, 2018 — — — — — — — — — —

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2018
SHARE-BASED COMPENSATION
Schedule of stock options activity	Weighted average Weighted Weighted- remaining Aggregate average fair Number of average contractual intrinsic value of shares exercise price term value options US$ 000’US$ US$ Outstanding as of January 1, 2016 20,755,390 0.13 8.26 29,341.64 0.57 Granted 11,618,090 1.01 — — 1.31 Forfeited (800,520) 0.40 — — 0.55 Outstanding as of December 31, 2016 31,572,960 0.45 8.02 57,467.59 0.85 Granted 12,819,330 2.13 — — 1.72 Forfeited (3,146,130) 1.31 — — 1.06 Outstanding as of December 31, 2017 41,246,160 0.90 7.53 147,427.66 1.10 Granted 25,224,000 2.90 — — 3.32 Forfeited (2,822,511) 2.39 — — 2.32 Exercised (8,452,649) 0.20 — — 1.23 Outstanding as of December 31, 2018 55,195,000 1.85 7.74 27,773.18 2.03
Schedule of options granted to Grantees were measured at fair value on the dates of grant	Year ended Year ended Year ended December 31, December 31, December 31, 2016 2017 2018 Expected volatility 45%-53% 43%-51% 42%-47% Risk-free interest rate (per annum) 2.08%-2.40% 2.08%-2.32% 2.49%~2.69% Exercise multiple 2.8/2.2 2.8/2.2 2.8/2.2 Expected dividend yield Contractual term (in years) 10 10 10
Summary of restricted shares activity	Number of Weighted average shares grant date fair value US$ Unvested as of December 31, 2017 — — Granted 160,190 1.95 Vested (26,856) 0.39 Unvested as of December 31, 2018 133,334 2.26

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
FAIR VALUE MEASUREMENTS
Schedule of company's financial assets and liabilities measured and recorded at fair value	As of December 31, 2017 Non-observable Active market Observable input input (Level 1) (Level 2) (Level 3) Total RMB RMB RMB RMB Assets: Short-term investments — 1,000 — 1,000 Available-for-sale debt security investment — — 39,205 39,205 — 1,000 39,205 40,205 Liabilities: Derivative liabilities — — 1,596,424 1,596,424 Guarantee liabilities — — 173,907 173,907 — — 1,770,331 1,770,331 As of December 31, 2018 Non- Active market Observable input observable input (Level 1) (Level 2) (Level 3) Total RMB RMB RMB RMB Assets: Short-term investments — 553,568 42,510 596,078 Available-for-sale debt security investment — — 41,179 41,179 — 553,568 83,689 637,257 Liabilities: Guarantee liabilities — — 316,064 316,064
Schedule of roll forward of major Level 3 investments	Total RMB Fair value of Level 3 investments as of December 31, 2016 — New addition 405,492 Disposal of investments (400,101) Effect of exchange rate change (5,391) Fair value of Level 3 investments as of December 31, 2107 — New addition 237,510 Disposal of investments (195,000) Fair value of Level 3 investments as of December 31, 2108 42,510
Schedule of business valuation applying the discounted cash flow approach	Discount rate DLOM Year ended December 31, 2016 % % Year ended December 31, 2017 15 % 10 % Year ended December 31, 2018 N/a N/a

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2018
NET LOSS PER SHARE
Basic and diluted net loss per share	Year Ended Year Ended Year Ended December 31, December 31, December 31, 2016 2017 2018 RMB RMB RMB Numerator: Net loss attributable to UXIN Limited (1,357,745) (2,722,596) (1,522,514) Accretion on convertible redeemable Preferred Shares (421,346) (555,824) (318,951) Deemed contribution from Preferred Shareholders 3,428 — — Deemed dividend to Preferred Shareholders — (587,564) (544,773) Deemed dividend from Preferred Shareholders — 92,779 — Net loss attributable to ordinary shareholders (1,775,663) (3,773,205) (2,386,238) Denominator: Weighted average number of ordinary shares outstanding, basic and diluted 49,174,850 49,318,860 477,848,763 Net loss per share attributable to ordinary shareholders: —Basic (36.11) (76.51) (4.99) —Diluted (36.11) (76.51) (4.99)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2018
COMMITMENTS AND CONTINGENCIES
Schedule of future minimum lease payments under non cancelable operating lease commitments	As of December 31, 2018 RMB 2019 102,057 2020 51,969 2021 30,392 2022 26,913 2023 23,203 Thereafter 110,980 345,514

CONDENSED FINANCIAL INFORMATI_2

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables)	12 Months Ended
	Dec. 31, 2018
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY
Schedule of balance sheets	Balance sheets As of December 31, As of December 31, 2017 2018 RMB RMB ASSETS Current assets: Cash and cash equivalents 77,819 10,288 Short-term investment — 553,568 Prepaid expenses — 23,100 Amounts due from related parties 5,916,468 9,318,188 Other receivables 28,631 18,015 Total assets 6,022,918 9,923,159 LIABILITIES AND EQUITY Current liabilities Other payables and accruals 45,765 10,584 Investment deficit in subsidiaries 3,977,672 6,195,553 Amounts due to related parties — 90,251 Convertible notes — 1,188,192 Derivative liabilities 1,546,646 — Other current liabilities 163,355 64,446 Total liabilities 5,733,438 7,549,026 As of December 31, As of December 31, 2017 2018 RMB RMB Mezzanine equity Series A redeemable convertible preference shares (US$0.0001 par value, 50,000,000 shares authorized, issued and outstanding as of December 31, 2017) 94,411 — Series A-1 redeemable convertible preference shares (US$0.0001 par value, 4,910,890 shares authorized, issued and outstanding as of December 31, 2017) 69,193 — Series B convertible redeemable preferred shares (US$ 0.0001 par value, 70,602,630 shares authorized, issued and outstanding as of December 31, 2017) 180,294 — Series C convertible redeemable preferred shares (US$ 0.0001 par value, 97,267,680 shares authorized, issued and outstanding as of December 31, 2017) 408,559 — Series D convertible redeemable preferred shares (US$ 0.0001 par value, 159,355,150 shares authorized, issued and outstanding as of December 31, 2017) 1,703,667 — Series E convertible redeemable preferred shares (US$ 0.0001 par value, 89,477,490 shares authorized, issued and outstanding as of December 31, 2017) 1,146,351 — Series F convertible redeemable preferred shares (US$ 0.0001 par value, 85,162,200 shares authorized, issued and outstanding as of December 31, 2017) 1,563,657 — Series G convertible redeemable preferred shares (US$ 0.0001 par value, 130,384,730 shares authorized, issued and outstanding as of December 31, 2017) 3,214,932 — Redeemable non-controlling interests 39,580 — Total mezzanine equity 8,420,644 — Shareholders’ (deficit)/equity Ordinary shares (US$0.0001 par value, 1,312,839,230 shares and 10,000,000,000 shares authorized as of December 31, 2017 and 2018, respectively; 49,318,860 shares issued and outstanding as of December 31, 2017; 839,850,038 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2018) 30 575 Additional paid-in capital — 12,967,986 Accumulated other comprehensive income 76,607 86,061 Accumulated deficit (8,207,801) (10,680,489) Total shareholders’ (deficit)/equity (8,131,164) 2,374,133 Total liabilities, mezzanine equity and shareholders’ equity 6,022,918 9,923,159
Schedule of statements of comprehensive loss	Year Ended Year Ended Year Ended December 31, 2016 December 31, 2017 December 31, 2018 RMB RMB RMB Total revenues — — 4,497 Cost of revenues — — (147) Gross profit — — 4,350 Operation expense Sales and marketing — — (34,591) Research and development — — (17,376) General and administrative (268,084) (171,172) (1,019,055) Total operating expenses (268,084) (171,172) (1,071,022) Loss from operations — — (1,066,672) Share of loss of subsidiaries and VIEs (994,542) (1,703,491) (1,641,754) Interest income/(expense), net 7,155 17,849 (25,262) Other (expense)/income, net (16) (14) 4,213 Foreign exchange gain 1,230 3,849 2,951 Fair value change of derivative liabilities (103,488) (869,617) 1,204,010 Net loss (1,357,745) (2,722,596) (1,522,514) Accretion on redeemable preferred shares to redemption value (421,346) (555,824) (318,951) Deemed contribution from Preferred Shareholders 3,428 — — Deemed dividend to Preferred Shareholders — (587,564) (544,773) Deemed dividend on Preferred Shareholders — 92,779 — Net loss attributable to ordinary shareholders (1,775,663) (3,773,205) (2,386,238) Net loss (1,357,745) (2,722,596) (1,522,514) Other comprehensive income Foreign currency translation (6,995) 46,065 11,406 Total comprehensive loss (1,364,740) (2,676,531) (1,511,108)
Schedule of statements of cash flows	Year Ended Year Ended Year Ended December 31, 2016 December 31, 2017 December 31, 2018 RMB RMB RMB Net cash (used in)/generated from operating activities (816) 6,080 (55,088) Net cash generated from/(used in) investing activities 144,064 102,577 (3,999,403) Net cash (used in)/generated from financing activities (143,835) (29,042) 3,982,230 Effect of exchange rate changes on cash and cash equivalents 34 (2,592) 4,730 Net (decrease)/increase in cash and cash equivalents (553) 77,023 (67,531) Cash and cash equivalents at beginning of the year 1,349 796 77,819 Cash and cash equivalents at end of the year 796 77,819 10,288

PRINCIPAL ACTIVITIES AND ORGA_3

PRINCIPAL ACTIVITIES AND ORGANIZATION - (Details) $ / shares in Units, $ in Millions, ¥ in Billions	Jun. 27, 2018USD ($)item$ / sharesshares	Jun. 27, 2018CNY (¥)itemshares	Dec. 31, 2018$ / shares
PRINCIPAL ACTIVITIES AND ORGANIZATION
Net proceeds from IPO and private placement after deducting underwriting discounts commissions and other offering expenses	$ 382.1	¥ 2.6
Youxin Internet (Beijing) Information Technology Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in VIEs			99.99%
Beijing Fengshun Lubao* Automotive Auction Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in VIEs			94.94%
Youxin Yishouche (Beijing) Information Technology Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in VIEs			99.99%
Youxinpai (Beijing) Information Technology Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			100.00%
Youhan (Shanghai) Information Technology Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			100.00%
Kai Feng Finance Lease (Hangzhou) Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			100.00%
Bo Yu Finance Lease (Tianjin) Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			100.00%
Yougu (Shanghai) Information Technology Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			100.00%
Youzhen (Beijing) Business Consulting Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			100.00%
Youxin (Shanghai) Second Hand Car Business Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			100.00%
Beijing Youxin Fengshun Lubao Vehicle* Auction Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			94.94%
Youxin (Shanxi) Technology Information Co., Ltd.
PRINCIPAL ACTIVITIES AND ORGANIZATION
Percentage of direct or indirect in subsidiaries			100.00%
Initial public offering | ADS
PRINCIPAL ACTIVITIES AND ORGANIZATION
Issuance of ordinary shares (in shares) | shares	25,000,000	25,000,000
Price per share sold (in dollars per ADS) | $ / shares	$ 9		$ 9
Number of ordinary shares per ADS | item	3	3

PRINCIPAL ACCOUNTING POLICIES -

PRINCIPAL ACCOUNTING POLICIES - Variable Interest Entities (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Consolidated balance sheet
Cash and cash equivalents	$ 116,709	¥ 291,973	¥ 291,973		$ 116,709	¥ 800,997	¥ 291,973
Amounts due from related parties							608,291
Other receivables, net					103,072	707,404	251,649
Inventory					2,823	19,380	77,941
Prepaid expense and other current assets					60,805	417,314	249,769
Long-term investments					50,979	349,882	40,628
Property, equipment and software, net					29,035	199,271	156,625
Intangible assets, net					3,086	21,179	9,949
Goodwill					16,089	110,424	75,849
Total assets					1,070,840	7,349,390	5,298,913
Accounts payable					22,777	156,320	65,694
Other payables and accruals					174,452	1,197,300	927,389
Total liabilities					$ 725,280	¥ 4,977,747	5,059,894
Consolidated statement of income (loss)
Total revenues	483,075	3,315,449	1,951,372	¥ 824,501
Cost of revenues	(165,957)	(1,138,995)	(747,788)	(533,371)
Net loss	(224,136)	(1,538,285)	(2,747,798)	(1,392,926)
Consolidated statement of cashflows
Net cash generated from/(used in) operating activities	(332,400)	(2,281,333)	(1,834,243)	(661,210)
Net cash used in investing activities	(214,829)	(1,474,417)	(1,498,219)	9,341
Net cash (used in)/generated from financing activities	622,748	4,274,052	3,288,842	(133,001)
Net (decrease)/increase in cash and cash equivalents	74,167	509,024	(40,286)	(778,406)
Cash and cash equivalents at beginning of the year		291,973
Cash and cash equivalents at end of the year	$ 116,709	800,997	291,973
VIEs
PRINCIPAL ACCOUNTING POLICIES
Term of interest-free loan agreements					10 years	10 years
Registered capital						¥ 144,200	134,400
Consolidated balance sheet
Cash and cash equivalents		105,680	90,967	14,825		67,940	105,680
Amounts due from related parties						165,940	148,714
Accounts receivable						6,957	6,884
Other receivables, net						95,297	63,832
Inventory						2,120	71,248
Prepaid expense and other current assets						22,364	64,978
Long-term investments						27,427	25,421
Property, equipment and software, net						12,436	12,835
Intangible assets, net						17,295	2,703
Goodwill						38,246
Total assets						456,022	502,295
Accounts payable						7,379	4,864
Amounts due to related parties						914,109	727,917
Current portion of long-term borrowings						281
Deferred tax liability						3,725
Other payables and accruals						249,841	402,945
Total liabilities						¥ 1,175,335	¥ 1,135,726
Consolidated statement of income (loss)
Total revenues		416,578	244,830	103,830
Cost of revenues		(156,093)	(130,099)	(36,788)
Net loss		(85,882)	(603,030)	(9,253)
Consolidated statement of cashflows
Net cash generated from/(used in) operating activities		(51,713)	(584,072)	155,589
Net cash used in investing activities		(67,516)	(5,529)	(17,037)
Net cash (used in)/generated from financing activities		81,489	604,314	(62,410)
Net (decrease)/increase in cash and cash equivalents		(37,740)	14,713	76,142
Cash and cash equivalents at beginning of the year		105,680	90,967	14,825
Cash and cash equivalents at end of the year		¥ 67,940	¥ 105,680	¥ 90,967

PRINCIPAL ACCOUNTING POLICIES_3

PRINCIPAL ACCOUNTING POLICIES - Foreign currencies, Restricted cash and short-term investment (Details) - ¥ / $	Dec. 31, 2018	Dec. 31, 2017
PRINCIPAL ACCOUNTING POLICIES
Exchange rate for translation	6.8632	6.5342
Restricted cash in relation to guarantee (as a percent)	7.50%	9.60%

PRINCIPAL ACCOUNTING POLICIES_4

PRINCIPAL ACCOUNTING POLICIES - Inventory and Accounts receivable (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
PRINCIPAL ACCOUNTING POLICIES
Inventories	$ 2,823	¥ 19,380	¥ 77,941
Accounts receivable
Allowance of accounts receivable		0	0
GPS devices
PRINCIPAL ACCOUNTING POLICIES
Inventories		8,100	2,500
Auto check equipments
PRINCIPAL ACCOUNTING POLICIES
Inventories		¥ 1,400	1,400
New cars
PRINCIPAL ACCOUNTING POLICIES
Inventories			¥ 72,600

PRINCIPAL ACCOUNTING POLICIES_5

PRINCIPAL ACCOUNTING POLICIES - Advance to consumers on behalf of financing partners and Guarantee liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Advance to consumers on behalf of financing partners
Advance to consumers on behalf of financing partners	$ 76,044	¥ 521,908	¥ 827,417
Guarantee liabilities
Maximum potential future payments under guarantee		¥ 27,600,000	¥ 14,800,000

PRINCIPAL ACCOUNTING POLICIES_6

PRINCIPAL ACCOUNTING POLICIES - Property, equipment and software, net (Details)	12 Months Ended
	Dec. 31, 2018
Electronic equipment
Property, equipment and software, net
Estimated useful lives (in years)	3 years
Furniture
Property, equipment and software, net
Estimated useful lives (in years)	5 years
Vehicles and motors
Property, equipment and software, net
Estimated useful lives (in years)	4 years
Software
Property, equipment and software, net
Estimated useful lives (in years)	5 years

PRINCIPAL ACCOUNTING POLICIES_7

PRINCIPAL ACCOUNTING POLICIES - Intangible assets, net and Impairment of long lived assets and intangible assets with definite lives (Details) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Impairment of long lived assets and intangible assets with definite lives
Impairment of long-lived assets	¥ 0	¥ 0
Software copyright
INTANGIBLE ASSETS, NET
Estimated useful lives (n years)	5 years
Supplier relationship
INTANGIBLE ASSETS, NET
Estimated useful lives (n years)	5 years

PRINCIPAL ACCOUNTING POLICIES_8

PRINCIPAL ACCOUNTING POLICIES - Deferred revenue (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)km	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
PRINCIPAL ACCOUNTING POLICIES
Number of years covered by warranty program (in years)	1 year
Number of kilometers covered by warranty program (in kilometers)	20,000
Deferred Revenue, Current	$ 16,779	¥ 115,160	¥ 27,598

PRINCIPAL ACCOUNTING POLICIES_9

PRINCIPAL ACCOUNTING POLICIES - Revenue recognition (Details) ¥ in Millions	12 Months Ended
	Dec. 31, 2018CNY (¥)item
PRINCIPAL ACCOUNTING POLICIES
Transaction price allocated to remaining performance obligations | ¥	¥ 115.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
PRINCIPAL ACCOUNTING POLICIES
Remaining performance obligation expected to recognize (as a percent)	100.00%
Period of remaining performance obligation expected to recognize (in months)	12 months
Consumers ("2C"), Transaction facilitation revenue
PRINCIPAL ACCOUNTING POLICIES
Number of performance obligation types identified | item	3

PRINCIPAL ACCOUNTING POLICIE_10

PRINCIPAL ACCOUNTING POLICIES - Value added tax ("VAT") and surcharges (Details)	12 Months Ended
	Dec. 31, 2018
Minimum
Surcharge on VAT (as a percent)	11.00%
Maximum
Surcharge on VAT (as a percent)	13.00%
Sales of cars | Minimum
VAT rate (as a percent)	16.00%
Sales of cars | Maximum
VAT rate (as a percent)	17.00%
Transaction facilitation
VAT rate (as a percent)	6.00%
Loan facilitation
VAT rate (as a percent)	6.00%
Others
VAT rate (as a percent)	6.00%

PRINCIPAL ACCOUNTING POLICIE_11

PRINCIPAL ACCOUNTING POLICIES - Sales and marketing expenses and Business combinations and non-controlling interests (Details) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
PRINCIPAL ACCOUNTING POLICIES
Advertising costs	¥ 1,152.6	¥ 1,308.2	¥ 394.9

PRINCIPAL ACCOUNTING POLICIE_12

PRINCIPAL ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - ASU 2016-02 - Restatement Adjustment ¥ in Millions	Jan. 01, 2019CNY (¥)
Total right-of-use assets	¥ 250
Total lease liabilities	¥ 300

BUSINESS COMBINATION (Details)

BUSINESS COMBINATION (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands	Jun. 01, 2018CNY (¥)shares	Aug. 31, 2017CNY (¥)	May 31, 2017CNY (¥)	Sep. 28, 2016CNY (¥)	Oct. 08, 2015CNY (¥)	Aug. 31, 2017CNY (¥)	Jun. 30, 2015CNY (¥)	Dec. 31, 2018CNY (¥)	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2018CNY (¥)	Dec. 31, 2017item$ / shares	Dec. 31, 2018CNY (¥)	Jun. 01, 2018$ / shares	Jun. 01, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
BUSINESS COMBINATION
Number of business combinations | item											2
Ordinary shares, par value (in dollars per share) | $ / shares									$ 0.0001		$ 0.0001		$ 0.0001
Estimated aggregate fair values of the assets acquired and liabilities assumed
Goodwill									$ 16,089			¥ 110,424			¥ 75,849
Goodwill impairment loss									$ 535	¥ 3,670
Chefang
BUSINESS COMBINATION
Percentage of voting interest acquired			10.04%		26.00%				49.00%			49.00%
Percentage of voting interest including subsequent acquisition			51.00%	40.96%					100.00%			100.00%
Consideration transferred					¥ 10,000
Cash consideration			¥ 3,000	¥ 10,000				¥ 2,000
Remeasurement gain on previously held equity interests										3,900
Estimated aggregate fair values of the assets acquired and liabilities assumed
Fair value of previously held equity interests			6,973
Purchase consideration to achieve control			3,000	¥ 10,000				¥ 2,000
Total purchase consideration			9,973
Cash and cash equivalents			3,659
Accounts receivable, net			57
Other receivables, net			4,439
Inventory			46
Prepaid expense and other current assets			233
Property, equipment and software, net			3,151
Total assets			11,585
Accounts payable			(499)
Other payables and accruals			(523)
Total liabilities			(1,022)
Fair value of net asset acquired			10,563
Noncontrolling interests			8,342
Goodwill			¥ 7,752
Goodwill impairment loss										3,700
Baogu
BUSINESS COMBINATION
Percentage of voting interest acquired		70.00%				70.00%	30.00%
Consideration transferred							¥ 12,200
Cash consideration		¥ 4,000				¥ 4,000
Remeasurement gain on previously held equity interests										1,300
Estimated aggregate fair values of the assets acquired and liabilities assumed
Fair value of previously held equity interests		1,714
Purchase consideration to achieve control		4,000				4,000
Total purchase consideration		5,714
Cash and cash equivalents		307				307
Accounts receivable, net		12,621				12,621
Other receivables, net		7,352				7,352
Prepaid expense and other current assets		4,083				4,083
Property, equipment and software, net		107				107
Total assets		24,470				24,470
Accounts payable		(280)				(280)
Deferred revenue		(21,959)				(21,959)
Other payables and accruals		(691)				(691)
Total liabilities		(22,930)				(22,930)
Fair value of net asset acquired		1,540				1,540
Goodwill		¥ 4,174				¥ 4,174
Goodwill impairment loss										0
Dongwang
BUSINESS COMBINATION
Percentage of voting interest acquired														100.00%
Cash consideration	¥ 62,994
Ordinary shares, par value (in dollars per share) | $ / shares													0.0001
fair value of ordinary shares based on independent appraiser | $ / shares													$ 0.0985
Estimated aggregate fair values of the assets acquired and liabilities assumed
Purchase consideration to achieve control	¥ 62,994
Fair value of ordinary shares of Fairlubo														¥ 1,993
Fair value of ordinary shares (in shares) | shares	20,225,145
Total purchase consideration	¥ 64,987
Cash and cash equivalents														743
Accounts receivable, net														811
Other receivables, net														36,961
Amount due from related party														21,486
Prepaid expense and other current assets														887
Property, equipment and software, net														3,334
Intangible asset														16,850
Total assets														81,072
Accounts payable														(1,792)
Other payables and accruals														(48,326)
Deferred tax liabilities														(4,213)
Total liabilities														(54,331)
Fair value of net asset acquired														26,741
Goodwill														¥ 38,246
Goodwill impairment loss										¥ 0
Estimated useful lives of intangible assets (n years)	5 years

REDEEMABLE NON-CONTROLLING IN_3

REDEEMABLE NON-CONTROLLING INTERESTS (Details) - CNY (¥) ¥ in Thousands	Jun. 27, 2018	Dec. 31, 2018	Dec. 31, 2017
REDEEMABLE NON-CONTROLLING INTERESTS
Derivative liabilities			¥ 168,864
Share swap feature of redeemable non-controlling interests
REDEEMABLE NON-CONTROLLING INTERESTS
Derivative liabilities			119,086
Redemption feature of redeemable non-controlling interests
REDEEMABLE NON-CONTROLLING INTERESTS
Derivative liabilities			¥ 49,778
Initial public offering | Class A ordinary shares
REDEEMABLE NON-CONTROLLING INTERESTS
Stock issued during the period	75,000,000
Initial public offering | Class A ordinary shares | Share swap feature of redeemable non-controlling interests
REDEEMABLE NON-CONTROLLING INTERESTS
Stock issued during the period		13,026,713

ADVANCE TO CONSUMERS ON BEHAL_3

ADVANCE TO CONSUMERS ON BEHALF OF FINANCING PARTNERS (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018CNY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
ADVANCE TO CONSUMERS ON BEHALF OF FINANCING PARTNERS
Advance to consumers on behalf of financing partners		$ 76,044	¥ 521,908	¥ 827,417
Advance to consumers on behalf of financing partners subsequent paid by financing partner	¥ 521,900

LOAN RECOGNIZED AS A RESULT O_3

LOAN RECOGNIZED AS A RESULT OF PAYMENT UNDER THE GUARANTEE (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Loan recognized as a result of payment under the guarantee
Loan recognized as a result of payment under the guarantee, net				$ 80,675	¥ 553,688	¥ 252,555
Loans receivable
Loan recognized as a result of payment under the guarantee
Loan recognized as a result of payment under the guarantee					810,327	441,860
Less: allowance for doubtful accounts	¥ (189,305)	¥ (7,222)	¥ (7,222)		(256,639)	(189,305)
Loan recognized as a result of payment under the guarantee, net					553,688	¥ 252,555
Movement of allowance
Beginning	(189,305)	(7,222)
Addition	(257,953)	(184,586)	(6,893)
Adjustment	152,862	(13,103)	(711)
Write-off	37,757	15,606	382
Ending	¥ (256,639)	¥ (189,305)	¥ (7,222)
Loan recognized as a result of payment under the guarantee
Movement of allowance
Amount of assets pledged					343,200
Secured long-term borrowings					120,800
Secured current portion of long-term borrowings					278,600
Loan recognized as a result of payment under the guarantee | Loans receivable
Movement of allowance
Amount of assets pledged					343,200
Secured long-term borrowings					120,800
Secured current portion of long-term borrowings					¥ 278,600

ADVANCE TO SELLERS (Details)

ADVANCE TO SELLERS (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Advance to sellers	$ 100,932	¥ 692,714	¥ 246,287
Allowance of advance to sellers		0	0
Short-term borrowings	$ 91,005	624,588	426,783
Businesses ("2B")
Advance to sellers		236,200	246,300
Consumers ("2C") - Cross regional
Advance to sellers		449,800	¥ 0
Secured by advance to sellers
Amount of assets pledged		21,300
Short-term borrowings		¥ 20,000

OTHER RECEIVABLES, NET (Details

OTHER RECEIVABLES, NET (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
OTHER RECEIVABLES, NET
Deposits in non-bank financing partners					¥ 502,550	¥ 52,000
Rental and other deposits					77,902	79,098
Staff advance					55,652	22,940
Receivables from third-party payment settlement platform					34,787	78,856
Others					42,970	19,027
Other receivables, Gross					713,861	251,921
Less: allowance for doubtful accounts	¥ (272)	¥ (269)	¥ (269)		(6,457)	(272)
Other receivables, net, Total				$ 103,072	¥ 707,404	¥ 251,649
Allowance for doubtful accounts receivables
At the beginning of year	(272)	(269)
Addition	(23,608)	(3)	(269)
Write-off	17,423
At the ending of year	¥ (6,457)	¥ (272)	¥ (269)

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Prepaid marketing expense		¥ 218,145	¥ 56,745
VAT-input deductible		64,237	80,589
Prepaid rental expense		46,581	57,188
Prepaid consulting and professional service fees		37,236	10,809
Prepaid non-banking financing partners service fees		26,295	18,607
Others		24,820	25,831
Total prepaid expenses and other current assets	$ 60,805	¥ 417,314	¥ 249,769

FINANCIAL LEASE RECEIVABLES (De

FINANCIAL LEASE RECEIVABLES (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Financial lease receivables
Financial lease receivables, gross		¥ 301,401	¥ 442,918
Financial lease receivables, net	$ 42,912	294,511	438,693	¥ 413,462
Car dealers
Financial lease receivables
Financial lease receivables, gross		239,854	432,491	355,574
Consumers
Financial lease receivables
Financial lease receivables, gross		61,547	10,427	60,512
Less: allowance for doubtful accounts		(6,890)	(4,225)	(2,624)
Financial lease receivables, net		¥ 54,657	¥ 6,202	¥ 57,888

FINANCIAL LEASE RECEIVABLES - A

FINANCIAL LEASE RECEIVABLES - Aging analysis of past due financing lease receivables (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Financial lease receivables, aging of past due
Total past due	¥ 7,748	¥ 10,427
Current	293,653	432,491
Total	301,401	442,918
1 90 days
Financial lease receivables, aging of past due
Total past due		2,808
Above 90 days
Financial lease receivables, aging of past due
Total past due	7,748	7,619
Car dealers
Financial lease receivables, aging of past due
Current	239,854	432,491
Total	239,854	432,491	¥ 355,574
Consumers
Financial lease receivables, aging of past due
Total past due	7,748	10,427
Current	53,799
Total	61,547	10,427	¥ 60,512
Consumers | 1 90 days
Financial lease receivables, aging of past due
Total past due		2,808
Consumers | Above 90 days
Financial lease receivables, aging of past due
Total past due	¥ 7,748	¥ 7,619

FINANCIAL LEASE RECEIVABLES - C

FINANCIAL LEASE RECEIVABLES - Components of the net investment in financial lease receivables (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
FINANCIAL LEASE RECEIVABLES
Total minimum lease payments to be received	¥ 303,273	¥ 446,163	¥ 419,673
Less: Allowance for uncollectibles	(6,890)	(4,225)	(2,624)
Net minimum lease payments receivable	296,383	441,938	417,049
Less: unearned income	(1,872)	(3,245)	(3,587)
Net investment in direct financing and sales-type leases	294,511	438,693	413,462
Contingent rental	¥ 0	¥ 0	¥ 0

PROPERTY, EQUIPMENT AND SOFTW_3

PROPERTY, EQUIPMENT AND SOFTWARE, NET (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)
Property, equipment and software, net
Total property, equipment and software		¥ 291,581			¥ 411,177
Total accumulated depreciation and amortization		(134,956)			(211,906)
Net book value		156,625		$ 29,035	199,271
Depreciation and amortization expenses	¥ 88,800	68,200	¥ 49,300
Computer equipment
Property, equipment and software, net
Total property, equipment and software		125,962			194,513
Total accumulated depreciation and amortization		(56,528)			(90,134)
Leasehold improvement
Property, equipment and software, net
Total property, equipment and software		106,947			147,704
Total accumulated depreciation and amortization		(64,203)			(100,269)
Software
Property, equipment and software, net
Total property, equipment and software		19,198			23,500
Total accumulated depreciation and amortization		(4,418)			(6,523)
Furniture
Property, equipment and software, net
Total property, equipment and software		13,638			19,611
Total accumulated depreciation and amortization		(5,706)			(8,037)
Vehicles and motors
Property, equipment and software, net
Total property, equipment and software		7,754			12,220
Total accumulated depreciation and amortization		(4,101)			(6,943)
Construction in progress
Property, equipment and software, net
Total property, equipment and software		¥ 18,082			¥ 13,629

INTANGIBLE ASSETS, NET - Acquir

INTANGIBLE ASSETS, NET - Acquired intangible assets (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
INTANGIBLE ASSETS, NET
Total intangible assets		¥ 35,202	¥ 18,352
Less: amortization		(14,023)	(8,403)
Net book value		21,179	9,949
Amortization expenses	$ 819	5,619	3,678	¥ 3,187
Supplier relationship
INTANGIBLE ASSETS, NET
Total intangible assets		18,200	9,400
Software copyright
INTANGIBLE ASSETS, NET
Total intangible assets		7,000	3,000
Others
INTANGIBLE ASSETS, NET
Total intangible assets		¥ 10,002	¥ 5,952

INTANGIBLE ASSETS, NET - Estima

INTANGIBLE ASSETS, NET - Estimated amortization expense relating to intangible assets (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2018	Dec. 31, 2017
INTANGIBLE ASSETS, NET
2019	¥ 6,877
2020	5,661
2021	3,850
2022	3,370
2023	1,421
Net book value	¥ 21,179	¥ 9,949

LONG-TERM INVESTMENTS (Details)

LONG-TERM INVESTMENTS (Details) ¥ in Thousands, $ in Thousands	1 Months Ended
	Jun. 30, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	May 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Sep. 30, 2017CNY (¥)
Long-term investments
Equity method investments			¥ 238,648
Cost method investments			70,055		¥ 1,423
Long-term investments		$ 50,979	349,882		40,628
Orange Inc.
Long-term investments
Available-for-sales debt security investment			41,179		39,205
Orange Inc. | Available-for-sales debt security investment
Long-term investments
Consideration for available-for-sale debt security investment | $	$ 6,000
Percentage of ownership in available-for-sale debt security investment	10.26%
Jincheng Consumer Finance (Sichuan) Co., Ltd. ("Jincheng")
Long-term investments
Equity method investments			236,642
Jincheng Consumer Finance (Sichuan) Co., Ltd. ("Jincheng") | Equity method investments
Long-term investments
Percentage of ownership in equity method investments						19.00%
Consideration for equity method investments						¥ 233,000
Weiche Information Technology Co., Ltd. ("Weiche")
Long-term investments
Equity method investments			2,006
Weiche Information Technology Co., Ltd. ("Weiche") | Equity method investments
Long-term investments
Percentage of ownership in equity method investments				40.00%
Consideration for equity method investments				¥ 3,000
ClearVue Pony Holdings Limited. ("ClearVue Pony")
Long-term investments
Cost method investments			¥ 68,632
ClearVue Pony Holdings Limited. ("ClearVue Pony") | Cost method investments]
Long-term investments
Percentage of ownership in cost method investments		23.80%	23.80%
Consideration for cost method investments | $		$ 10,000
Bai'an Online Property Insurance Co., Ltd. ("Bai'an")
Long-term investments
Cost method investments			¥ 1,423		¥ 1,423

OTHER NON-CURRENT ASSETS (Detai

OTHER NON-CURRENT ASSETS (Details) - CNY (¥) ¥ in Thousands	1 Months Ended
	Sep. 30, 2017	Dec. 31, 2017
OTHER NON-CURRENT ASSETS
Prepayment of long term investment		¥ 112,902
Sichuan
OTHER NON-CURRENT ASSETS
Investment consideration paid	¥ 112,900

SHORT TERM AND LONG TERM BORR_2

SHORT TERM AND LONG TERM BORROWINGS (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
Debt Instrument
Short-term borrowings	$ 91,005	¥ 624,588	¥ 426,783
Short term and long term borrowings from commercial banks or other institutions		¥ 1,106,389	¥ 800,887
Weighted average interest rate for outstanding borrowings (in percentage)	6.50%	6.50%	6.40%
Loan recognized as a result of payment under the guarantee
Debt Instrument
Secured long-term borrowings		¥ 120,800
Secured current portion of long-term borrowings		278,600
Amount of assets pledged		343,200
Secured by advance to sellers
Debt Instrument
Short-term borrowings		20,000
Amount of assets pledged		21,300
Secured by financial lease receivable
Debt Instrument
Short-term borrowings		20,400
Amount of assets pledged		32,500
Short-term borrowings
Debt Instrument
Short-term borrowings		¥ 325,715	¥ 320,877
Short-term borrowings | Minimum
Debt Instrument
Fixed annual interest rate (in percentage)	4.80%	4.80%
Short-term borrowings | Maximum
Debt Instrument
Fixed annual interest rate (in percentage)	12.00%	12.00%
Current portion of long-term borrowings
Debt Instrument
Current portion of long-term borrowings		¥ 298,873	105,906
Current portion of long-term borrowings | Minimum
Debt Instrument
Fixed annual interest rate (in percentage)	5.20%	5.20%
Current portion of long-term borrowings | Maximum
Debt Instrument
Fixed annual interest rate (in percentage)	9.60%	9.60%
Long-term borrowings
Debt Instrument
Long-term borrowings		¥ 481,801	¥ 374,104
Long-term borrowings | Minimum
Debt Instrument
Fixed annual interest rate (in percentage)	5.00%	5.00%
Term (in years)	2 years
Long-term borrowings | Maximum
Debt Instrument
Fixed annual interest rate (in percentage)	6.40%	6.40%
Term (in years)	4 years

GUARANTEE LIABILITIES (Details)

GUARANTEE LIABILITIES (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
GUARANTEE LIABILITIES
Balance at the beginning of the year		¥ 173,907	¥ 76,325	¥ 493
Fair value of guarantee liabilities upon the inception of new guarantees		403,370	284,452	84,708
Guarantee settled		(257,953)	(184,586)	(6,893)
(Gains)/losses from guarantee liabilities		1,931	(2,284)	(1,983)
Balance at the end of the year	$ 46,808	¥ 321,255	¥ 173,907	¥ 76,325
Minimum
GUARANTEE LIABILITIES
Guarantee term (in years)	2 years	2 years	2 years	2 years
Maximum
GUARANTEE LIABILITIES
Guarantee term (in years)	4 years	4 years	4 years	4 years

DEPOSIT OF INTERESTS FROM CON_3

DEPOSIT OF INTERESTS FROM CONSUMERS AND PAYABLE TO FINANCING PARTNERS (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
DEPOSIT OF INTERESTS FROM CONSUMERS AND PAYABLE TO FINANCING PARTNERS
Deposit of interests from consumers and payable to financing partners		¥ 512,569	¥ 1,076,096
Less: current portion	$ (70,350)	(482,827)	(732,273)
Noncurrent portion	$ 4,334	¥ 29,742	¥ 343,823

ADVANCE FROM BUYERS COLLECTED_3

ADVANCE FROM BUYERS COLLECTED ON BEHALF OF SELLERS (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
ADVANCE FROM BUYERS COLLECTED ON BEHALF OF SELLERS
Advance from buyers collected on behalf of sellers	$ 54,756	¥ 375,803	¥ 226,891

OTHER PAYABLES AND ACCRUALS (De

OTHER PAYABLES AND ACCRUALS (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)
OTHER PAYABLES AND ACCRUALS
Accrued advertising expenses		¥ 407,557	¥ 429,658
Deposits		207,076	196,089
Accrued professional services and other expenses		129,203	40,932
Accrued salaries and benefits		185,597	143,777
Tax payables		102,324	50,637
Interest payable		61,434	4,610
Advance from customer		9,704	12,551
Others		94,405	49,135
Other payables and accruals	$ 174,452	¥ 1,197,300	¥ 927,389

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - 12 months ended Dec. 31, 2017 ¥ in Thousands, $ in Millions	USD ($)	CNY (¥)	CNY (¥)
Other Current Liabilities
Prepayment			¥ 163,355
Apex Ease Limited
Other Current Liabilities
Prepayment			130,684
Apex Ease Limited | Series G convertible redeemable preferred shares
Other Current Liabilities
Subscribed preferred share capital | $	$ 20
Receipt of prepayment of subscription of shares	20	¥ 130,700
Huangpu Investment Holding Limited
Other Current Liabilities
Prepayment			¥ 32,671
Huangpu Investment Holding Limited | Series G convertible redeemable preferred shares
Other Current Liabilities
Subscribed preferred share capital | $	5
Receipt of prepayment of subscription of shares	$ 5	¥ 32,700

CONVERTIBLE NOTES (Details)

CONVERTIBLE NOTES (Details) ¥ in Thousands, $ in Thousands	Jun. 28, 2018	Jun. 12, 2018USD ($)	Jun. 09, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Jun. 12, 2018CNY (¥)	Jun. 09, 2018CNY (¥)
Debt Instrument [Line Items]
Convertible notes				$ 173,125	¥ 1,188,192
Conversion price per ordinary shares (as a percent)	109.50%
IPO price per ordinary share (as a percent)	108.00%
CNCB (Hong Kong)
Debt Instrument [Line Items]
Total principal amount			$ 100,000				¥ 686,300
Interest (as a percent)			6.00%				6.00%
Term (in years)			363 days
Golden Fortune
Debt Instrument [Line Items]
Total principal amount		$ 75,000				¥ 514,700
Interest (as a percent)		6.50%				6.50%
Term (in years)		363 days

RELATED PARTY BALANCES AND TR_3

RELATED PARTY BALANCES AND TRANSACTIONS (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
RELATED PARTY BALANCES AND TRANSACTIONS
Amounts due from related parties		¥ 608,291
Service provided by the related parties	¥ 1,391	13,030	¥ 27,164
Xiao Qing
RELATED PARTY BALANCES AND TRANSACTIONS
Service provided by the related parties		1,503	3,497
Gao Li Group
RELATED PARTY BALANCES AND TRANSACTIONS
Amounts due from related parties		379,073
Xin Gao Group
RELATED PARTY BALANCES AND TRANSACTIONS
Amounts due from related parties		134,011
Mr. Kun Dai
RELATED PARTY BALANCES AND TRANSACTIONS
Amounts due from related parties		94,630
Baidu
RELATED PARTY BALANCES AND TRANSACTIONS
Amounts due from related parties		577
Service provided by the related parties	¥ 1,391	780	16,355
Baogu
RELATED PARTY BALANCES AND TRANSACTIONS
Service provided by the related parties		¥ 10,747	¥ 7,312

INCOME TAX EXPENSE (Details)

INCOME TAX EXPENSE (Details) ¥ in Thousands, $ in Thousands	Mar. 16, 2007	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)	Dec. 31, 2018
Composition of income tax expenses
Current income tax expense					¥ (15,692)	¥ (1,190)	¥ (2,425)
Deferred income tax credit				$ 161	1,107	620	620
Income Tax Expense (Benefit), Total				$ (2,125)	¥ (14,585)	¥ (570)	¥ (1,805)
Hong Kong
Composition of income tax expenses
Enterprise income tax rate (as a percent)				16.50%	16.50%
PRC
Composition of income tax expenses
Enterprise income tax rate (as a percent)	25.00%			25.00%	25.00%
Withholding income tax rate on dividends declared by PRC companies to their foreign investors (as a percent)				10.00%	10.00%
Lower withholding income tax rate on dividends declared by PRC companies to foreign investors with certain criteria met (as a percent)				5.00%	5.00%
Minimum percentage of ownership interests held by investors in Hong Kong to qualify for lower withholding tax rate (as a percent)				25.00%	25.00%
Youxinpai (Beijing) Information Technology Co., Ltd | PRC
Composition of income tax expenses
Enterprise income tax rate (as a percent)				12.50%	12.50%	12.50%
Preferential tax rate (as a percent)								15.00%
Youxin Internet (Beijing) Information Technology Co., Ltd. | PRC
Composition of income tax expenses
Enterprise income tax rate (as a percent)				12.50%	12.50%	0.00%
Reduction in preferential tax rate during subsequent three years (as a percent)		50.00%	50.00%	50.00%	50.00%
PRC subsidiaries, VIE's and VIE's subsidiaries | Hong Kong
Composition of income tax expenses
Enterprise income tax rate (as a percent)				25.00%	25.00%

INCOME TAX EXPENSE - Reconcilia

INCOME TAX EXPENSE - Reconciliation of the differences between statutory tax rate and the effective tax rate (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Reconciliation of the differences between statutory tax rate and the effective tax rate
Loss before tax	$ (222,394)	¥ (1,526,331)	¥ (2,750,825)	¥ (1,381,484)
Income tax computed at PRC statutory tax rate		(381,583)	(687,706)	(345,371)
Effect of different tax rate		(21,369)	6,709	18,402
Non-deductible expense		93,925	241,114	131,549
Change of valuation allowance		294,442	439,313	193,615
Income Tax Expense (Benefit), Total	$ (2,125)	¥ (14,585)	¥ (570)	¥ (1,805)

INCOME TAX EXPENSE - Deferred t

INCOME TAX EXPENSE - Deferred tax assets and deferred tax liabilities (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets
Net accumulated losses - carry forward	¥ 636,440	¥ 507,849	¥ 345,276
Deductible advertising expense	540,627	348,032	149,131
Accruals	68,271	93,732	17,496
Allowance	6,915	8,198	6,595
Less: valuation allowance	(1,252,253)	(957,811)	(518,498)	¥ (324,883)
Deferred tax liabilities
Intangible assets arisen from business combinations	¥ 4,759	¥ 1,653	¥ 2,273

INCOME TAX EXPENSE - Movement o

INCOME TAX EXPENSE - Movement of valuation allowance (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Movement of valuation allowance
Balance at beginning of the year	¥ (957,811)	¥ (518,498)	¥ (324,883)
Change of valuation allowance	(294,442)	(439,313)	(193,615)
Balance at end of the year	(1,252,253)	¥ (957,811)	¥ (518,498)
Net operating loss carries forwards	¥ 2,545,800

Ordinary shares (Details)

Ordinary shares (Details)	Jun. 27, 2018$ / sharesshares	Jun. 01, 2018$ / shares	May 28, 2018shares	May 25, 2018shares	May 14, 2018shares	Dec. 31, 2018Vote$ / sharesshares	Dec. 31, 2017$ / sharesshares	Dec. 31, 2016shares	Dec. 31, 2015shares
ORDINARY SHARES
Ordinary shares authorized (in shares)						10,000,000,000	1,312,839,230
Ordinary shares par value (in dollars per share) | $ / shares		$ 0.0001				$ 0.0001	$ 0.0001
Ordinary shares issued (in shares)						880,659,899	49,318,860
Ordinary shares outstanding (in shares)						880,659,899	49,318,860
Ordinary shares redesignated to Class B ordinary shares						40,809,861
Conversion ratio		0.1
Mr. Kun Dai and Xin Gao Group
ORDINARY SHARES
Surrender shares			37,990,839
Restricted shares | Mr. Kun Dai
ORDINARY SHARES
Issuance of restricted shares to Mr. Kun Dai (in shares)					17,742,890
Class A ordinary shares
ORDINARY SHARES
Ordinary shares issued (in shares)						839,850,038
Ordinary shares outstanding (in shares)						839,850,038
Preferred shares converted into Class A ordinary shares						743,343,820
Conversion ratio						1
Class A ordinary shares | Initial public offering
ORDINARY SHARES
Issuance of ordinary shares (in shares)	75,000,000
Class A ordinary shares | Initial public offering | Share swap feature of redeemable non-controlling interests
ORDINARY SHARES
Issuance of ordinary shares (in shares)						13,026,713
Class B ordinary shares
ORDINARY SHARES
Ordinary shares issued (in shares)						40,809,861
Ordinary shares outstanding (in shares)						40,809,861
Number of Votes | Vote						10
Class B ordinary shares | Mr. Kun Dai
ORDINARY SHARES
Ordinary shares redesignated to Class B ordinary shares						40,809,861
ADS | Initial public offering
ORDINARY SHARES
Issuance of ordinary shares (in shares)	25,000,000
Price per share sold (in dollars per ADS) | $ / shares	$ 9					$ 9
Ordinary share
ORDINARY SHARES
Ordinary shares outstanding (in shares)						880,659,899	49,318,860	49,318,860	57,411,630
Issuance of restricted shares to Mr. Kun Dai (in shares)						17,742,890
Exercised (in shares)						8,479,505
Surrender shares						26,251,889
Ordinary share | Executive Officer
ORDINARY SHARES
Exercised (in shares)				3,333,330
Unvested stock options				1,666,670
Ordinary share | Executive Officer | Vesting acceleration
ORDINARY SHARES
Exercised (in shares)				1,666,670
Ordinary share | Certain option holders
ORDINARY SHARES
Exercised (in shares)				3,479,505
Ordinary share | Initial public offering
ORDINARY SHARES
Issuance of ordinary shares (in shares)						75,000,000

CONVERTIBLE REDEEMABLE PREFER_3

CONVERTIBLE REDEEMABLE PREFERRED SHARES - Issuance (Details) ¥ in Thousands, $ in Thousands	Dec. 06, 2017USD ($)shares	Dec. 06, 2017CNY (¥)shares	Nov. 23, 2017USD ($)shares	Nov. 23, 2017CNY (¥)shares	Aug. 31, 2017USD ($)shares	Aug. 31, 2017CNY (¥)shares	Jul. 28, 2017USD ($)shares	Jul. 28, 2017CNY (¥)shares	Dec. 30, 2016USD ($)shares	Dec. 30, 2016CNY (¥)shares	Apr. 20, 2016USD ($)shares	Apr. 20, 2016CNY (¥)shares	Dec. 01, 2015USD ($)shares	Dec. 01, 2015CNY (¥)shares	Nov. 13, 2015USD ($)shares	Nov. 13, 2015CNY (¥)shares	Mar. 13, 2015USD ($)shares	Mar. 13, 2015CNY (¥)shares	Nov. 28, 2014USD ($)shares	Nov. 28, 2014CNY (¥)shares	Sep. 09, 2014USD ($)shares	Sep. 09, 2014CNY (¥)shares	Aug. 07, 2014USD ($)shares	Aug. 07, 2014CNY (¥)shares	Mar. 24, 2014USD ($)shares	Mar. 24, 2014CNY (¥)shares	Apr. 22, 2013USD ($)shares	Apr. 22, 2013CNY (¥)shares	Mar. 26, 2013USD ($)shares	Mar. 26, 2013CNY (¥)shares	Jul. 17, 2012USD ($)shares	Jul. 17, 2012CNY (¥)shares	May 31, 2015shares	Nov. 30, 2014shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2018CNY (¥)shares	Dec. 31, 2017CNY (¥)shares	Dec. 31, 2016CNY (¥)shares	Feb. 26, 2014USD ($)	Dec. 31, 2013USD ($)
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Aggregate consideration																																			$ 243,969	¥ 1,674,408	¥ 2,721,065	¥ 162,209
Deemed contribution from preferred shareholders | ¥																																						¥ 3,428
Deemed dividend to preferred shareholders																																			$ 79,376	¥ 544,773	¥ 587,564
2013 Notes
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Face value of debt | $																																								$ 5,000
2014 Notes
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Face value of debt | $																																							$ 5,000
Series A convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued																															50,000,000	50,000,000
Aggregate consideration | $																															$ 10,000
Payment of stock issuance costs																															$ 100	¥ 400
Series A-1 convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued											4,910,890	4,910,890																										4,910,890
Aggregate consideration | $											$ 10,000
Payment of stock issuance costs											$ 100	¥ 800
Deemed contribution from preferred shareholders | ¥												¥ 3,400
Series B convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued																											17,650,660	17,650,660	52,951,970	52,951,970
Aggregate consideration | $																											$ 5,000		$ 15,000
Payment of stock issuance costs																											$ 20	¥ 100	$ 100	¥ 340
Series C convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Aggregate consideration | $																									$ 50,000
Payment of stock issuance costs																									$ 10	¥ 70
Series C1 convertible redeemable preferred shares tranche I
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued																									85,527,210	85,527,210
Convertible preferred stock repurchased																																		7,243,410
Series C1 convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued																							19,006,050	19,006,050
Aggregate consideration | $																							$ 10,000
Payment of stock issuance costs																							$ 100	¥ 400	$ 100	¥ 300
Convertible preferred stock repurchased																																	6,959,370	3,621,710
Series C2 convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued																									10,558,910	10,558,910
Series D convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued																			14,486,830	14,486,830	144,868,320	144,868,320
Aggregate consideration | $																			$ 20,000		$ 200,000
Payment of stock issuance costs																			$ 10	¥ 80	$ 100	¥ 800
Series E convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued																	89,477,490	89,477,490
Aggregate consideration | $																	$ 150,000
Payment of stock issuance costs																	$ 100	¥ 800
Series F convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued													12,108,370	12,108,370	73,053,830	73,053,830
Aggregate consideration | $													$ 30,000		$ 181,000
Payment of stock issuance costs													$ 20	¥ 100	$ 100	¥ 800
Series G convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued			14,764,090	14,764,090	16,777,370	16,777,370	28,117,410	28,117,410	70,725,860	70,725,860																											130,384,730
Aggregate consideration | $			$ 44,000		$ 50,000		$ 82,500		$ 212,200
Payment of stock issuance costs			$ 40	¥ 300	$ 50	¥ 300	$ 100	¥ 900	$ 800	¥ 5,000
Deemed dividend to preferred shareholders | ¥				¥ 162,600		¥ 185,000		¥ 233,100		¥ 6,900
Series G-Plus convertible redeemable preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Temporary equity shares issued	67,922,000	67,922,000	67,922,000	67,922,000																															67,922,000	67,922,000
Aggregate consideration | $	$ 250,000		$ 250,000
Payment of stock issuance costs	$ 600	¥ 3,900	$ 600	¥ 3,900
Deemed dividend to preferred shareholders | ¥		¥ 544,800		¥ 544,800

CONVERTIBLE REDEEMABLE PREFER_4

CONVERTIBLE REDEEMABLE PREFERRED SHARES - Liquidation Preferences and Accounting for preferred shares (Details) ¥ in Thousands	Jun. 01, 2018$ / shares	Dec. 31, 2018$ / shares	Dec. 31, 2017$ / shares	Dec. 31, 2017CNY (¥)
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Marked to market value of derivative liabilities of conversion features | ¥				¥ 1,427,560
Conversion ratio	0.1
Ordinary shares, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001

CONVERTIBLE REDEEMABLE PREFER_5

CONVERTIBLE REDEEMABLE PREFERRED SHARES - Modification of preferred shares (Details) ¥ in Thousands, $ in Millions	Oct. 21, 2017USD ($)	Jul. 28, 2017USD ($)	Jan. 13, 2017USD ($)	Dec. 31, 2017CNY (¥)
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Combined change in fair value of preferred shares before and after modification	$ 5.1	$ 2.7	$ 5.9
Fair value of derivative liabilities conversion feature | ¥				¥ 1,427,560
Prior to issuance of Series G Tranche I preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Minimum market capitalization criteria for Qualified IPO			2,500
Upon issuance of Series G Tranche I preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Minimum market capitalization criteria for Qualified IPO			$ 3,000
Prior to issuance of Series G Tranche III and Tranche IV preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Minimum market capitalization criteria for Qualified IPO	3,173
Upon issuance of Series G Tranche III and Tranche IV preferred shares
CONVERTIBLE REDEEMABLE PREFERRED SHARES
Minimum market capitalization criteria for Qualified IPO	$ 3,200

CONVERTIBLE REDEEMABLE PREFER_6

CONVERTIBLE REDEEMABLE PREFERRED SHARES - Summary of activities (Details) - CNY (¥) ¥ in Thousands	Dec. 06, 2017	Nov. 23, 2017	Aug. 31, 2017	Jul. 28, 2017	Dec. 30, 2016	Apr. 20, 2016	Dec. 01, 2015	Nov. 13, 2015	Mar. 13, 2015	Nov. 28, 2014	Sep. 09, 2014	Apr. 22, 2013	Mar. 26, 2013	Jul. 17, 2012	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 8,420,644
Repurchase of the surrender shares (Note 24)															(698,680)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 8,420,644
Series A convertible redeemable preferred shares
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 94,411,209	¥ 87,866,557	¥ 81,385,584
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance (in shares)															50,000,000	50,000,000	50,000,000
Issuance of Shares, net of issuance cost (in shares)														50,000,000
Accretion on convertible redeemable preferred shares to redemption value															¥ 3,232,164	¥ 6,544,652	¥ 6,480,973
Repurchase of the surrender shares (Note 24)															¥ (6,471,764)
Repurchase of the surrender shares (Note 24) (in shares)															(3,313,980)
Convert to ordinary shares upon IPO															¥ (91,171,609)
Convert to ordinary shares upon IPO (in shares)															(46,686,020)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 94,411,209	¥ 87,866,557
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance (in shares)																50,000,000	50,000,000
Series A-1 convertible redeemable preferred shares
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 69,193,372	¥ 62,594,238
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance (in shares)															4,910,890	4,910,890
Issuance of Shares, net of issuance cost																	¥ 57,941,529
Issuance of Shares, net of issuance cost (in shares)						4,910,890											4,910,890
Accretion on convertible redeemable preferred shares to redemption value															¥ 3,336,630	¥ 6,599,134	¥ 4,652,709
Convert to ordinary shares upon IPO															¥ (72,530,002)
Convert to ordinary shares upon IPO (in shares)															(4,910,890)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 69,193,372	¥ 62,594,238
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance (in shares)																4,910,890	4,910,890
Series B convertible redeemable preferred shares
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 180,293,845	¥ 167,596,431	¥ 155,112,560
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance (in shares)															70,602,630	70,602,630	70,602,630
Issuance of Shares, net of issuance cost (in shares)												17,650,660	52,951,970
Accretion on convertible redeemable preferred shares to redemption value															¥ 6,271,618	¥ 12,697,414	¥ 12,483,871
Convert to ordinary shares upon IPO															¥ (186,565,463)
Convert to ordinary shares upon IPO (in shares)															(70,602,630)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 180,293,845	¥ 167,596,431
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance (in shares)																70,602,630	70,602,630
Series C convertible redeemable preferred shares
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 408,558,925	¥ 375,169,859	¥ 342,087,590
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance (in shares)															97,267,680	97,267,680	97,267,680
Accretion on convertible redeemable preferred shares to redemption value															¥ 16,640,809	¥ 33,389,066	¥ 33,082,269
Repurchase of the surrender shares (Note 24)															¥ (36,829,243)
Repurchase of the surrender shares (Note 24) (in shares)															(8,424,970)
Convert to ordinary shares upon IPO															¥ (388,370,491)
Convert to ordinary shares upon IPO (in shares)															(88,842,710)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 408,558,925	¥ 375,169,859
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance (in shares)																97,267,680	97,267,680
Series D convertible redeemable preferred shares
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 1,703,667,099	¥ 1,558,207,097	¥ 1,414,071,460
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance (in shares)															159,355,150	159,355,150	159,355,150
Issuance of Shares, net of issuance cost (in shares)										14,486,830	144,868,320
Accretion on convertible redeemable preferred shares to redemption value															¥ 72,704,263	¥ 145,460,002	¥ 144,135,637
Convert to ordinary shares upon IPO															¥ (1,776,371,362)
Convert to ordinary shares upon IPO (in shares)															(159,355,150)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 1,703,667,099	¥ 1,558,207,097
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance (in shares)																159,355,150	159,355,150
Series E convertible redeemable preferred shares
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 1,146,350,895	¥ 1,052,567,101	¥ 960,738,373
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance (in shares)															89,477,490	89,477,490	89,477,490
Issuance of Shares, net of issuance cost (in shares)									89,477,490
Accretion on convertible redeemable preferred shares to redemption value															¥ 46,708,885	¥ 93,783,794	¥ 91,828,728
Convert to ordinary shares upon IPO															¥ (1,193,059,780)
Convert to ordinary shares upon IPO (in shares)															(89,477,490)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 1,146,350,895	¥ 1,052,567,101
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance (in shares)																89,477,490	89,477,490
Series F convertible redeemable preferred shares
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 1,563,656,740	¥ 1,432,056,198	¥ 1,303,374,879
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance (in shares)															85,162,200	85,162,200	85,162,200
Issuance of Shares, net of issuance cost (in shares)							12,108,370	73,053,830
Accretion on convertible redeemable preferred shares to redemption value															¥ 65,810,530	¥ 131,600,542	¥ 128,681,319
Convert to ordinary shares upon IPO															¥ (1,629,467,270)
Convert to ordinary shares upon IPO (in shares)															(85,162,200)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 1,563,656,740	¥ 1,432,056,198
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance (in shares)																85,162,200	85,162,200
Series G convertible redeemable preferred shares
Change in temporary equity
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance															¥ 3,214,932,302
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Beginning Balance (in shares)															130,384,730
Issuance of Shares, net of issuance cost																¥ 3,089,182,344
Issuance of Shares, net of issuance cost (in shares)		14,764,090	16,777,370	28,117,410	70,725,860											130,384,730
Accretion on convertible redeemable preferred shares to redemption value															¥ 68,361,184	¥ 125,749,958
Convert to ordinary shares upon IPO															¥ (3,283,293,486)
Convert to ordinary shares upon IPO (in shares)															(130,384,730)
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance																¥ 3,214,932,302
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests, Ending Balance (in shares)																130,384,730
Series G-Plus convertible redeemable preferred shares
Change in temporary equity
Issuance of Shares, net of issuance cost															¥ 2,066,336,179
Issuance of Shares, net of issuance cost (in shares)	67,922,000	67,922,000													67,922,000
Accretion on convertible redeemable preferred shares to redemption value															¥ 35,885,258
Convert to ordinary shares upon IPO															¥ (2,102,221,437)
Convert to ordinary shares upon IPO (in shares)															(67,922,000)

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - Stock options - shares	Mar. 26, 2013	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Nov. 19, 2018	Feb. 14, 2018	Apr. 20, 2016	Nov. 13, 2015
SHARE-BASED COMPENSATION
Service period (in years)	4 years
Expiration period (in years)	3 months
Granted (in shares)		25,224,000	12,819,330	11,618,090
2013 Plan
SHARE-BASED COMPENSATION
Maximum aggregate number of shares issued	34,275,990						65,000,000	40,942,650
Vesting percentage	25.00%
2018 Plan
SHARE-BASED COMPENSATION
Maximum aggregate number of shares issued						87,742,890
2018 Second Plan
SHARE-BASED COMPENSATION
Maximum aggregate number of shares issued					102,040,053

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock options activity (Details) - Stock options - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of shares
Outstanding at beginning of the period (in shares)	41,246,160	31,572,960	20,755,390
Granted (in shares)	25,224,000	12,819,330	11,618,090
Forfeited (in shares)	(2,822,511)	(3,146,130)	(800,520)
Exercised (in shares)	(8,452,649)
Outstanding at end of the period (in shares)	55,195,000	41,246,160	31,572,960	20,755,390
Weighted average exercise price
Outstanding at beginning of the period (in dollars per share)	$ 0.90	$ 0.45	$ 0.13
Granted (in dollars per share)	2.90	2.13	1.01
Forfeited (in dollars per share)	2.39	1.31	0.40
Exercised (in dollars per share)	0.20
Outstanding at end of the period (in dollars per share)	$ 1.85	$ 0.90	$ 0.45	$ 0.13
Weighted average remaining contractual term (years)
Weighted average remaining contractual term (in years)	7 years 8 months 27 days	7 years 6 months 11 days	8 years 7 days	8 years 3 months 4 days
Aggregate intrinsic value
Aggregate intrinsic value	$ 27,773,180	$ 147,427,660	$ 57,467,590	$ 29,341,640
Weighted average fair value
Outstanding at beginning of the period (in dollars per share)	$ 1.10	$ 0.85	$ 0.57
Granted (in dollars per share)	3.32	1.72	1.31
Forfeited (in dollars per share)	2.32	1.06	0.55
Exercised (in dollars per share)	1.23
Outstanding at end of the period (in dollars per share)	$ 2.03	$ 1.10	$ 0.85	$ 0.57

SHARE-BASED COMPENSATION - St_2

SHARE-BASED COMPENSATION - Stock option valuation (Details) $ / shares in Units, $ in Thousands, ¥ in Millions	Jun. 27, 2018USD ($)	Jun. 27, 2018CNY (¥)	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2018CNY (¥)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)
SHARE-BASED COMPENSATION
Expected dividend yield			0.00%	0.00%	0.00%	0.00%
Contractual term (in years)			10 years	10 years	10 years	10 years
Share-based compensation expense | $						$ 0
Stock options | Minimum
SHARE-BASED COMPENSATION
Expected volatility			42.00%	42.00%	43.00%	45.00%
Risk free interest rate (per annum)			2.49%	2.49%	2.08%	2.08%
Exercise multiple			2.8	2.8	2.8	2.8
Stock options | Maximum
SHARE-BASED COMPENSATION
Expected volatility			47.00%	47.00%	51.00%	53.00%
Risk free interest rate (per annum)			2.69%	2.69%	2.32%	2.40%
Exercise multiple			2.2	2.2	2.2	2.2
Stock options | Key management
SHARE-BASED COMPENSATION
Share-based compensation expense			$ 4,200	¥ 28.2
Stock options | Management and Employees
SHARE-BASED COMPENSATION
Share-based compensation expense			21,700	150.9
Restricted shares
SHARE-BASED COMPENSATION
Share-based compensation expense			$ 100	¥ 0.8	$ 0
Number of restricted stock
Granted (in shares) | shares			160,190	160,190	0
Vested (in shares) | shares			(26,856)	(26,856)
Unvested the end of the period (in shares) | shares			133,334	133,334
Weighted-average grant date fair value per share
Granted (in dollars per share) | $ / shares			$ 1.95
Vested (in dollars per share) | $ / shares			0.39
Unvested restricted common stock at the end of the period (in dollars per share) | $ / shares			$ 2.26
Initial public offering | Stock options
SHARE-BASED COMPENSATION
Share-based compensation expense	$ 36,700	¥ 242.9

SHARE-BASED COMPENSATION - Othe

SHARE-BASED COMPENSATION - Other share based compensation (Details) $ in Thousands, ¥ in Millions

Jun. 27, 2018USD ($)

Jun. 27, 2018CNY (¥)

May 25, 2018shares

May 14, 2018shares

Jun. 30, 2018USD ($)

Jun. 30, 2018CNY (¥)

Dec. 31, 2018USD ($)shares

Dec. 31, 2018CNY (¥)shares

Dec. 31, 2017USD ($)

Dec. 31, 2016USD ($)

May 31, 2018USD ($)

May 31, 2018CNY (¥)

Share-based compensation expense | $

$ 0

General and administrative expense

Share-based compensation expense

$ 93,800

¥ 620.4

Unrecognized compensation costs

$ 4,800

¥ 31.8

Ordinary share

Issuance of restricted shares to Mr. Kun Dai (in shares)

17,742,890

17,742,890

Exercised (in shares)

8,479,505

8,479,505

Restricted shares

Share-based compensation expense

$ 100

¥ 0.8

$ 0

Mr. Kun Dai | General and administrative expense

Share-based compensation expense

$ 800

¥ 5.2

Mr. Kun Dai | Restricted shares

Issuance of restricted shares to Mr. Kun Dai (in shares)

17,742,890

Executive Officer | Ordinary share

Exercised (in shares)

3,333,330

Unvested stock options

1,666,670

Executive Officer | Ordinary share | Vesting acceleration

Exercised (in shares)

1,666,670

Certain option holders | Ordinary share

Exercised (in shares)

3,479,505

SHARE-BASED COMPENSATION - St_3

SHARE-BASED COMPENSATION - Stock incentive plan adopted by Fairlubo (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 0
Stock options | Fairlubo Auction Company Limited
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Vesting percentage	0.25%

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2018CNY (¥)item	Dec. 31, 2017CNY (¥)	Dec. 31, 2016
Roll forward of major Level 3 investments
New addition	¥ 237,510	¥ 405,492
Disposal of investments	(195,000)	(400,101)
Effect of exchange rate change		¥ (5,391)
Fair value of Level 3 investments, ending balance	¥ 42,510
Derivative liabilities
Business valuation approach	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Guarantee Liabilities [Abstract]
Percentage of Collection Rate	68.00%	57.00%	50.00%
Minimum
Guarantee Liabilities [Abstract]
Multiplier for amount of payment observing at end of first quarter comparing to end of second quarter | item	15
Development factors for payment matured two quarters and more	1.01
Initial expected delinquent ratios used in the EDR and PBF methods	4.00%
Maximum
Guarantee Liabilities [Abstract]
Multiplier for amount of payment observing at end of first quarter comparing to end of second quarter | item	20
Development factors for payment matured two quarters and more	1.65
Initial expected delinquent ratios used in the EDR and PBF methods	5.00%
Derivative liabilities | Discount rate
Derivative liabilities
Measurement inputs for derivative liabilities		15	16.5
Derivative liabilities | DLOM
Derivative liabilities
Measurement inputs for derivative liabilities		10	10
Guarantee liabilities | Minimum
Guarantee Liabilities [Abstract]
Discount factors for guarantee liabilities	0.96
Guarantee liabilities | Maximum
Guarantee Liabilities [Abstract]
Discount factors for guarantee liabilities	1
Fair Value, Measurements, Recurring
Assets:
Short-term investments	¥ 596,078	¥ 1,000
Available-for-sale security investment	41,179	39,205
Liabilities:
Derivative liabilities		1,596,424
Guarantee liabilities	316,064	173,907
Assets	637,257	40,205
Liabilities		1,770,331
Fair Value, Measurements, Recurring | Observable input (Level 2)
Assets:
Short-term investments	553,568	1,000
Liabilities:
Assets	553,568	1,000
Fair Value, Measurements, Recurring | Non-observable input (Level 3)
Assets:
Short-term investments	42,510
Available-for-sale security investment	41,179	39,205
Liabilities:
Derivative liabilities		1,596,424
Guarantee liabilities	316,064	173,907
Assets	¥ 83,689	39,205
Liabilities		¥ 1,770,331

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2018CNY (¥)¥ / sharesshares	Dec. 31, 2017CNY (¥)¥ / sharesshares	Dec. 31, 2016CNY (¥)¥ / sharesshares
Numerator:
Net loss attributable to UXIN Limited	$ (221,838)	¥ (1,522,514)	¥ (2,722,596)	¥ (1,357,745)
Accretion on redeemable preferred shares	(46,473)	(318,951)	(555,824)	(421,346)
Deemed contribution from preferred shareholders				3,428
Deemed dividend to preferred shareholders	(79,376)	(544,773)	(587,564)
Deemed dividend from preferred Shareholders			92,779
Net loss attributable to ordinary shareholders	$ (347,687)	¥ (2,386,238)	¥ (3,773,205)	¥ (1,775,663)
Denominator:
Weighted average number of ordinary shares outstanding, basic and diluted | shares	477,848,763	477,848,763	49,318,860	49,174,850,000
Net loss per share attributable to ordinary shareholders:
Basic | (per share)	$ (0.73)	¥ (4.99)	¥ (76.51)	¥ (36.11)
Diluted | (per share)	$ (0.73)	¥ (4.99)	¥ (76.51)	¥ (36.11)

EMPLOYEE BENEFIT (Details)

EMPLOYEE BENEFIT (Details) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
EMPLOYEE BENEFIT
Amount of employee benefits	¥ 2,099.7	¥ 1,275.9	¥ 717.7

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Future minimum lease payments under the non-cancellable operating lease agreements (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Operating lease commitments
2019	¥ 102,057
2020	51,969
2021	30,392
2022	26,913
2023	23,203
Thereafter	110,980
Total	345,514
Rent expense	201,800	¥ 137,200	¥ 102,500
Contingencies
Number of Competitors		1
Loss contingency accrual	¥ 0	¥ 0

STATUTORY RESERVES AND RESTRI_2

STATUTORY RESERVES AND RESTRICTED NET ASSETS (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
STATUTORY RESERVES AND RESTRICTED NET ASSETS
Percentage of after tax profit, transferred annually by PRC subsidiaries to general reserve fund	10.00%
Maximum percentage criteria for appropriation of after-tax profit of PRC subsidiaries to general reserve fund (as a percent)	50.00%
Amount of appropriations to statutory reserve, enterprise expansion fund and staff welfare and bonus fund	¥ 0	¥ 0	¥ 0
PRC subsidiaries' restricted net assets	¥ 978,200,000	¥ 779,300,000
Percentage of net assets in total consolidated net assets restrictions placed on the distribution of PRC subsidiaries	41.10%	326.05%

CONDENSED FINANCIAL INFORMATI_3

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Balance sheets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)	Dec. 31, 2015CNY (¥)
Current assets:
Cash and cash equivalents	$ 116,709	¥ 800,997	¥ 291,973
Short-term investment	86,851	596,078	1,000
Amounts due from related parties			608,291
Other receivables, net	103,072	707,404	251,649
Total current assets	971,651	6,668,634	4,902,960
Total assets	1,070,840	7,349,390	5,298,913
Current liabilities (including amounts of the consolidated VIEs and VIEs' subsidiaries without recourse to the primary beneficiary of RMB407,809 and RMB261,226 as of December 31, 2017 and 2018, respectively)
Other payables and accruals	174,452	1,197,300	927,389
Convertible notes	173,125	1,188,192
Derivative liabilities			1,596,424
Other current liabilities			163,355
Total liabilities	725,280	4,977,747	5,059,894
Mezzanine equity
Redeemable non controlling interests			39,580
Total Mezzanine equity			8,420,644
Shareholders' (deficit)/equity
Ordinary shares (US$0.0001 par value, 1,312,839,230 shares and 10,000,000,000 shares authorized as of December 31, 2017 and 2018, respectively; 49,318,860 shares issued and outstanding as of December 31, 2017; 839,850,038 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2018)	84	575	30
Additional paid-in capital	1,889,496	12,967,986
Accumulated other comprehensive income	12,539	86,061	76,607
Accumulated deficit	(1,556,197)	(10,680,489)	(8,207,801)
Total shareholders' (deficit)/equity	345,560	2,371,643	(8,181,625)	¥ (4,443,852)	¥ (2,556,914)
Total liabilities, mezzanine equity and shareholders' equity	$ 1,070,840	7,349,390	5,298,913
Parent Company | Reportable Legal Entities
Current assets:
Cash and cash equivalents		10,288	77,819
Short-term investment		553,568
Prepaid expenses		23,100
Amounts due from related parties		9,318,188	5,916,468
Other receivables, net		18,015	28,631
Total assets		9,923,159	6,022,918
Current liabilities (including amounts of the consolidated VIEs and VIEs' subsidiaries without recourse to the primary beneficiary of RMB407,809 and RMB261,226 as of December 31, 2017 and 2018, respectively)
Other payables and accruals		10,584	45,765
Investment deficit in subsidiaries		6,195,553	3,977,672
Amounts due to related parties		90,251
Convertible notes		1,188,192
Derivative liabilities			1,546,646
Other current liabilities		64,446	163,355
Total liabilities		7,549,026	5,733,438
Mezzanine equity
Redeemable non controlling interests			39,580
Total Mezzanine equity			8,420,644
Shareholders' (deficit)/equity
Ordinary shares (US$0.0001 par value, 1,312,839,230 shares and 10,000,000,000 shares authorized as of December 31, 2017 and 2018, respectively; 49,318,860 shares issued and outstanding as of December 31, 2017; 839,850,038 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2018)		575	30
Additional paid-in capital		12,967,986
Accumulated other comprehensive income		86,061	76,607
Accumulated deficit		(10,680,489)	(8,207,801)
Total shareholders' (deficit)/equity		2,374,133	(8,131,164)
Total liabilities, mezzanine equity and shareholders' equity		¥ 9,923,159	6,022,918
Series A convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			94,411
Total Mezzanine equity			94,411,209	87,866,557	81,385,584
Series A convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Mezzanine equity
Mezzanine equity			94,411
Series A-1 convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			69,193
Total Mezzanine equity			69,193,372	62,594,238
Series A-1 convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Mezzanine equity
Mezzanine equity			69,193
Series B convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			180,294
Total Mezzanine equity			180,293,845	167,596,431	155,112,560
Series B convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Mezzanine equity
Mezzanine equity			180,294
Series C convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			408,559
Total Mezzanine equity			408,558,925	375,169,859	342,087,590
Series C convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Mezzanine equity
Mezzanine equity			408,559
Series D convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			1,703,667
Total Mezzanine equity			1,703,667,099	1,558,207,097	1,414,071,460
Series D convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Mezzanine equity
Mezzanine equity			1,703,667
Series E convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			1,146,351
Total Mezzanine equity			1,146,350,895	1,052,567,101	960,738,373
Series E convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Mezzanine equity
Mezzanine equity			1,146,351
Series F convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			1,563,657
Total Mezzanine equity			1,563,656,740	¥ 1,432,056,198	¥ 1,303,374,879
Series F convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Mezzanine equity
Mezzanine equity			1,563,657
Series G convertible redeemable preferred shares
Mezzanine equity
Mezzanine equity			3,214,932
Total Mezzanine equity			3,214,932,302
Series G convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Mezzanine equity
Mezzanine equity			¥ 3,214,932

CONDENSED FINANCIAL INFORMATI_4

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Balance sheets (Parenthetical) (Details) - $ / shares	Dec. 31, 2018	Jun. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Ordinary shares, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized (in shares)	10,000,000,000		1,312,839,230
Ordinary shares, shares issued (in shares)	880,659,899		49,318,860
Ordinary shares, shares outstanding (in shares)	880,659,899		49,318,860
Parent Company | Reportable Legal Entities
Ordinary shares, par value (in dollars per share)	$ 0.0001
Ordinary shares, shares authorized (in shares)	10,000,000,000		1,312,839,230
Ordinary shares, shares issued (in shares)			49,318,860
Ordinary shares, shares outstanding (in shares)			49,318,860
Series A convertible redeemable preferred shares
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			50,000,000
Convertible redeemable preferred shares, shares issued (in shares)			50,000,000
Convertible redeemable preferred shares, shares outstanding (in shares)			50,000,000	50,000,000	50,000,000
Series A convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			50,000,000
Convertible redeemable preferred shares, shares issued (in shares)			50,000,000
Convertible redeemable preferred shares, shares outstanding (in shares)			50,000,000
Series A-1 convertible redeemable preferred shares
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			4,910,890
Convertible redeemable preferred shares, shares issued (in shares)			4,910,890
Convertible redeemable preferred shares, shares outstanding (in shares)			4,910,890	4,910,890
Series A-1 convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			4,910,890
Convertible redeemable preferred shares, shares issued (in shares)			4,910,890
Convertible redeemable preferred shares, shares outstanding (in shares)			4,910,890
Series B convertible redeemable preferred shares
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			70,602,630
Convertible redeemable preferred shares, shares issued (in shares)			70,602,630
Convertible redeemable preferred shares, shares outstanding (in shares)			70,602,630	70,602,630	70,602,630
Series B convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			70,602,630
Convertible redeemable preferred shares, shares issued (in shares)			70,602,630
Convertible redeemable preferred shares, shares outstanding (in shares)			70,602,630
Series C convertible redeemable preferred shares
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			97,267,680
Convertible redeemable preferred shares, shares issued (in shares)			97,267,680
Convertible redeemable preferred shares, shares outstanding (in shares)			97,267,680	97,267,680	97,267,680
Series C convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			97,267,680
Convertible redeemable preferred shares, shares issued (in shares)			97,267,680
Convertible redeemable preferred shares, shares outstanding (in shares)			97,267,680
Series D convertible redeemable preferred shares
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			159,355,150
Convertible redeemable preferred shares, shares issued (in shares)			159,355,150
Convertible redeemable preferred shares, shares outstanding (in shares)			159,355,150	159,355,150	159,355,150
Series D convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			159,355,150
Convertible redeemable preferred shares, shares issued (in shares)			159,355,150
Convertible redeemable preferred shares, shares outstanding (in shares)			159,355,150
Series E convertible redeemable preferred shares
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			89,477,490
Convertible redeemable preferred shares, shares issued (in shares)			89,477,490
Convertible redeemable preferred shares, shares outstanding (in shares)			89,477,490	89,477,490	89,477,490
Series E convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			89,477,490
Convertible redeemable preferred shares, shares issued (in shares)			89,477,490
Convertible redeemable preferred shares, shares outstanding (in shares)			89,477,490
Series F convertible redeemable preferred shares
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			85,162,200
Convertible redeemable preferred shares, shares issued (in shares)			85,162,200
Convertible redeemable preferred shares, shares outstanding (in shares)			85,162,200	85,162,200	85,162,200
Series F convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Convertible redeemable preferred shares, shares authorized (in shares)			85,162,200
Convertible redeemable preferred shares, shares issued (in shares)			85,162,200
Convertible redeemable preferred shares, shares outstanding (in shares)			85,162,200
Series G convertible redeemable preferred shares
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			130,384,730
Convertible redeemable preferred shares, shares issued (in shares)			130,384,730
Convertible redeemable preferred shares, shares outstanding (in shares)			130,384,730
Series G convertible redeemable preferred shares | Parent Company | Reportable Legal Entities
Convertible redeemable preferred shares par value (in dollars per share)			$ 0.0001
Convertible redeemable preferred shares, shares authorized (in shares)			130,384,730
Convertible redeemable preferred shares, shares issued (in shares)			130,384,730
Convertible redeemable preferred shares, shares outstanding (in shares)			130,384,730
Class A ordinary shares
Ordinary shares, shares issued (in shares)	839,850,038
Ordinary shares, shares outstanding (in shares)	839,850,038
Class A ordinary shares | Parent Company | Reportable Legal Entities
Ordinary shares, shares issued (in shares)	839,850,038
Ordinary shares, shares outstanding (in shares)	839,580,038
Class B ordinary shares
Ordinary shares, shares issued (in shares)	40,809,861
Ordinary shares, shares outstanding (in shares)	40,809,861
Class B ordinary shares | Parent Company | Reportable Legal Entities
Ordinary shares, shares issued (in shares)	40,809,861
Ordinary shares, shares outstanding (in shares)	40,809,861

CONDENSED FINANCIAL INFORMATI_5

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Statements of comprehensive loss (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Revenues:
Total Revenues	$ 483,075	¥ 3,315,449	¥ 1,951,372	¥ 824,501
Cost of revenues	(165,957)	(1,138,995)	(747,788)	(533,371)
Gross profit	317,118	2,176,454	1,203,584	291,130
Operating expenses:
Sales and marketing	(391,502)	(2,686,956)	(2,203,139)	(793,521)
Research and development	(47,999)	(329,430)	(226,010)	(167,791)
General and administrative	(251,204)	(1,724,060)	(599,905)	(583,697)
Loss from operations	(373,868)	(2,565,923)	(1,823,186)	(1,251,896)
Total operating expenses	(690,986)	(4,742,377)	(3,026,770)	(1,543,026)
Share of loss of subsidiaries and VIEs	383	2,631	3,597	(9,637)
Interest income/(expense), net	(17,550)	(120,453)	(30,183)	677
Foreign exchange gain	(1,199)	(8,232)	477	1,918
Changing fair value of derivative liabilities	172,673	1,185,090	(885,821)	(116,056)
Loss before income tax expense	(222,394)	(1,526,331)	(2,750,825)	(1,381,484)
Net loss attributable to UXIN LIMITED	(221,838)	(1,522,514)	(2,722,596)	(1,357,745)
Accretion on redeemable preferred shares	(46,473)	(318,951)	(555,824)	(421,346)
Deemed contribution from preferred shareholders				3,428
Deemed dividend to preferred shareholders	(79,376)	(544,773)	(587,564)
Deemed dividend from preferred Shareholders			92,779
Net loss attributable to ordinary shareholders	(347,687)	(2,386,238)	(3,773,205)	(1,775,663)
Net loss	(221,838)	(1,522,514)	(2,722,596)	(1,357,745)
Other comprehensive (loss)/income
Foreign currency translation	702	4,818	43,406	(3,252)
Total comprehensive loss attributable to UXIN LIMITED	$ (220,176)	(1,511,108)	(2,676,531)	(1,364,740)
Parent Company | Reportable Legal Entities
Revenues:
Total Revenues		4,497
Cost of revenues		(147)
Gross profit		4,350
Operating expenses:
Sales and marketing		(34,591)
Research and development		(17,376)
General and administrative		(1,019,055)	(171,172)	(268,084)
Loss from operations		(1,066,672)
Total operating expenses		(1,071,022)	(171,172)	(268,084)
Share of loss of subsidiaries and VIEs		(1,641,754)	(1,703,491)	(994,542)
Interest income/(expense), net		(25,262)	17,849	7,155
Other (expense)/income, net		(4,213)	14	16
Foreign exchange gain		2,951	3,849	1,230
Changing fair value of derivative liabilities		1,204,010	(869,617)	(103,488)
Net loss attributable to UXIN LIMITED		(1,522,514)	(2,722,596)	(1,357,745)
Accretion on redeemable preferred shares		(318,951)	(555,824)	(421,346)
Deemed contribution from preferred shareholders				3,428
Deemed dividend to preferred shareholders		(544,773)	(587,564)
Deemed dividend from preferred Shareholders			92,779
Net loss attributable to ordinary shareholders		(2,386,238)	(3,773,205)	(1,775,663)
Net loss		(1,522,514)	(2,722,596)	(1,357,745)
Other comprehensive (loss)/income
Foreign currency translation		11,406	46,065	(6,995)
Total comprehensive loss attributable to UXIN LIMITED		¥ (1,511,108)	¥ (2,676,531)	¥ (1,364,740)

CONDENSED FINANCIAL INFORMATI_6

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY - Statements of cash flows (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018CNY (¥)	Dec. 31, 2017CNY (¥)	Dec. 31, 2016CNY (¥)
Statements of cash flows
Net cash (used in)/generated from operating activities	$ (332,400)	¥ (2,281,333)	¥ (1,834,243)	¥ (661,210)
Net cash generated from investing activities	(214,829)	(1,474,417)	(1,498,219)	9,341
Net cash (used in)/generated from financing activities	622,748	4,274,052	3,288,842	(133,001)
Effect of exchange rate changes on cash and cash equivalents	(1,352)	(9,278)	3,334	6,464
Net (decrease)/increase in cash and cash equivalents	74,167	509,024	(40,286)	(778,406)
Cash and cash equivalents at beginning of the year	42,542	291,973	332,259	1,110,665
Cash and cash equivalents at end of the year	$ 116,709	800,997	291,973	332,259
Reportable Legal Entities | Parent Company
Statements of cash flows
Net cash (used in)/generated from operating activities		(55,088)	6,080	(816)
Net cash generated from investing activities		(3,999,403)	102,577	144,064
Net cash (used in)/generated from financing activities		3,982,230	(29,042)	(143,835)
Effect of exchange rate changes on cash and cash equivalents		4,730	(2,592)	34
Net (decrease)/increase in cash and cash equivalents		(67,531)	77,023	(553)
Cash and cash equivalents at beginning of the year		77,819	796	1,349
Cash and cash equivalents at end of the year		¥ 10,288	¥ 77,819	¥ 796