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- China’s leading used car retailer – Uxin (NASDAQ:UXIN) partnered with Zhengzhou Airport Automobile Industry to establish Uxin (Zhengzhou) Intelligent Remanufacturing.
- Pursuant to the joint venture agreement, Uxin (Anhui) Industrial Investment, a wholly-owned subsidiary of Uxin (UXIN), will contribute RMB120M and Zhengzhou Airport Industry will contribute RMB50M, representing ~70% and 30% of the joint venture’s total registered capital, respectively.
- The JV aims to support Uxin’s (UXIN) plan to establish a new used car super store in Zhengzhou.
- Zhengzhou Airport Industry is a wholly-owned subsidiary of Zhengzhou Airport Economy Zone Technology Innovation Investment Group.