0001729173 2025-01-01 2025-12-31 0001729173 dei:BusinessContactMember 2025-01-01 2025-12-31 0001729173 UXIN:AmericanDepositarySharesMember 2025-01-01 2025-12-31 0001729173 UXIN:ClassAOrdinarySharesMember 2025-01-01 2025-12-31 0001729173 UXIN:ClassAOrdinarySharesMember 2025-12-31 0001729173 UXIN:ClassBOrdinarySharesMember 2025-12-31 0001729173 2024-12-31 0001729173 2025-12-31 0001729173 UXIN:ThirdPartiesMember 2024-12-31 0001729173 UXIN:ThirdPartiesMember 2025-12-31 0001729173 us-gaap:RelatedPartyMember 2024-12-31 0001729173 us-gaap:RelatedPartyMember 2025-12-31 0001729173 us-gaap:CommonClassAMember 2024-12-31 0001729173 us-gaap:CommonClassAMember 2025-12-31 0001729173 us-gaap:CommonClassBMember 2024-12-31 0001729173 us-gaap:CommonClassBMember 2025-12-31 0001729173 2023-04-01 2024-03-31 0001729173 2024-04-01 2024-12-31 0001729173 UXIN:RetailVehicleSalesMember 2023-04-01 2024-03-31 0001729173 UXIN:RetailVehicleSalesMember 2024-04-01 2024-12-31 0001729173 UXIN:RetailVehicleSalesMember 2025-01-01 2025-12-31 0001729173 UXIN:WholesaleVehicleSalesMember 2023-04-01 2024-03-31 0001729173 UXIN:WholesaleVehicleSalesMember 2024-04-01 2024-12-31 0001729173 UXIN:WholesaleVehicleSalesMember 2025-01-01 2025-12-31 0001729173 us-gaap:ServiceOtherMember 2023-04-01 2024-03-31 0001729173 us-gaap:ServiceOtherMember 2024-04-01 2024-12-31 0001729173 us-gaap:ServiceOtherMember 2025-01-01 2025-12-31 0001729173 us-gaap:CommonStockMember 2023-03-31 0001729173 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001729173 UXIN:SubscriptionReceivableMember 2023-03-31 0001729173 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0001729173 us-gaap:RetainedEarningsMember 2023-03-31 0001729173 us-gaap:ParentMember 2023-03-31 0001729173 us-gaap:NoncontrollingInterestMember 2023-03-31 0001729173 2023-03-31 0001729173 us-gaap:CommonStockMember 2024-03-31 0001729173 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001729173 UXIN:SubscriptionReceivableMember 2024-03-31 0001729173 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001729173 us-gaap:RetainedEarningsMember 2024-03-31 0001729173 us-gaap:ParentMember 2024-03-31 0001729173 us-gaap:NoncontrollingInterestMember 2024-03-31 0001729173 2024-03-31 0001729173 us-gaap:CommonStockMember 2024-12-31 0001729173 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001729173 UXIN:SubscriptionReceivableMember 2024-12-31 0001729173 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0001729173 us-gaap:RetainedEarningsMember 2024-12-31 0001729173 us-gaap:ParentMember 2024-12-31 0001729173 us-gaap:NoncontrollingInterestMember 2024-12-31 0001729173 us-gaap:CommonStockMember 2023-04-01 2024-03-31 0001729173 us-gaap:AdditionalPaidInCapitalMember 2023-04-01 2024-03-31 0001729173 UXIN:SubscriptionReceivableMember 2023-04-01 2024-03-31 0001729173 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-01 2024-03-31 0001729173 us-gaap:RetainedEarningsMember 2023-04-01 2024-03-31 0001729173 us-gaap:ParentMember 2023-04-01 2024-03-31 0001729173 us-gaap:NoncontrollingInterestMember 2023-04-01 2024-03-31 0001729173 us-gaap:CommonStockMember 2024-04-01 2024-12-31 0001729173 us-gaap:AdditionalPaidInCapitalMember 2024-04-01 2024-12-31 0001729173 UXIN:SubscriptionReceivableMember 2024-04-01 2024-12-31 0001729173 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-01 2024-12-31 0001729173 us-gaap:RetainedEarningsMember 2024-04-01 2024-12-31 0001729173 us-gaap:ParentMember 2024-04-01 2024-12-31 0001729173 us-gaap:NoncontrollingInterestMember 2024-04-01 2024-12-31 0001729173 us-gaap:CommonStockMember 2025-01-01 2025-12-31 0001729173 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-12-31 0001729173 UXIN:SubscriptionReceivableMember 2025-01-01 2025-12-31 0001729173 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-01-01 2025-12-31 0001729173 us-gaap:RetainedEarningsMember 2025-01-01 2025-12-31 0001729173 us-gaap:ParentMember 2025-01-01 2025-12-31 0001729173 us-gaap:NoncontrollingInterestMember 2025-01-01 2025-12-31 0001729173 us-gaap:CommonStockMember 2025-12-31 0001729173 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0001729173 UXIN:SubscriptionReceivableMember 2025-12-31 0001729173 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-12-31 0001729173 us-gaap:RetainedEarningsMember 2025-12-31 0001729173 us-gaap:ParentMember 2025-12-31 0001729173 us-gaap:NoncontrollingInterestMember 2025-12-31 0001729173 UXIN:YouxinAutomobileIntelligentRemanufacturingCoLtdMember 2025-01-01 2025-12-31 0001729173 UXIN:YouxinAutomobileIntelligentRemanufacturingCoLtdMember 2025-12-31 0001729173 UXIN:YoutangShaanxiInformationTechnologyCoLtdMember 2025-01-01 2025-12-31 0001729173 UXIN:YoutangShaanxiInformationTechnologyCoLtdMember 2025-12-31 0001729173 UXIN:WuhanYouxinIntelligentRemanufacturingCoLtdMember 2025-01-01 2025-12-31 0001729173 UXIN:WuhanYouxinIntelligentRemanufacturingCoLtdMember 2025-12-31 0001729173 UXIN:YouxinZhengzhouIntelligentRemanufacturingCoLtdMember 2025-01-01 2025-12-31 0001729173 UXIN:YouxinZhengzhouIntelligentRemanufacturingCoLtdMember 2025-12-31 0001729173 UXIN:YouluShandongUsedCarTradingCoLtdMember 2025-01-01 2025-12-31 0001729173 UXIN:YouluShandongUsedCarTradingCoLtdMember 2025-12-31 0001729173 UXIN:YoufangBeijingInformationTechnologyCoLtdMember 2025-03-01 2025-03-31 0001729173 UXIN:InventoryPledgedFinancingFacilityAgreementsMember 2025-12-31 0001729173 UXIN:LightwindGlobalLimitedMember 2025-01-01 2025-12-31 0001729173 us-gaap:CommonClassAMember UXIN:SubscriptionAgreementMember UXIN:FameDragonGlobalLimitedMember 2025-01-01 2025-12-31 0001729173 UXIN:EquityInvestmentAgreementsOneMember 2025-12-31 0001729173 UXIN:EquityInvestmentAgreementsTwoMember 2025-12-31 0001729173 2022-04-01 2023-03-31 0001729173 srt:MinimumMember 2025-01-01 2025-12-31 0001729173 srt:MaximumMember 2025-01-01 2025-12-31 0001729173 us-gaap:TechnologyEquipmentMember 2025-12-31 0001729173 us-gaap:FurnitureAndFixturesMember 2025-12-31 0001729173 us-gaap:VehiclesMember 2025-12-31 0001729173 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2025-12-31 0001729173 us-gaap:MachineryAndEquipmentMember 2025-12-31 0001729173 us-gaap:LeaseholdImprovementsMember 2025-12-31 0001729173 UXIN:VehicleSalesMember 2025-01-01 2025-12-31 0001729173 us-gaap:ServiceOtherMember srt:MinimumMember 2025-01-01 2025-12-31 0001729173 us-gaap:ServiceOtherMember srt:MaximumMember 2025-01-01 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember 2025-01-01 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:FinancingReceivableOverTwelveMonthsPastDueMember 2024-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:FinancingReceivableOverTwelveMonthsPastDueMember 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentNormalMember 2024-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentNormalMember 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentAttentionMember 2024-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentAttentionMember 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentSecondaryMember 2024-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentSecondaryMember 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember 2024-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentNormalMember 2023-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentAttentionMember 2023-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentSecondaryMember 2023-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentNormalMember 2023-04-01 2024-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentAttentionMember 2023-04-01 2024-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentSecondaryMember 2023-04-01 2024-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentNormalMember 2024-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentAttentionMember 2024-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentSecondaryMember 2024-03-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentNormalMember 2024-04-01 2024-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentAttentionMember 2024-04-01 2024-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentSecondaryMember 2024-04-01 2024-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentNormalMember 2025-01-01 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentAttentionMember 2025-01-01 2025-12-31 0001729173 UXIN:LoanRecognizedAsResultOfPaymentUnderGuaranteeMember UXIN:CreditAssessmentSecondaryMember 2025-01-01 2025-12-31 0001729173 UXIN:OtherReceivablesMember 2025-01-01 2025-12-31 0001729173 us-gaap:LeaseholdImprovementsMember 2024-12-31 0001729173 us-gaap:MachineryAndEquipmentMember 2024-12-31 0001729173 us-gaap:FurnitureAndFixturesMember 2024-12-31 0001729173 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2024-12-31 0001729173 UXIN:ElectronicEquipmentMember 2024-12-31 0001729173 UXIN:ElectronicEquipmentMember 2025-12-31 0001729173 us-gaap:VehiclesMember 2024-12-31 0001729173 us-gaap:ConstructionInProgressMember 2024-12-31 0001729173 us-gaap:ConstructionInProgressMember 2025-12-31 0001729173 us-gaap:ShortTermDebtMember us-gaap:RelatedPartyMember 2024-12-31 0001729173 us-gaap:ShortTermDebtMember us-gaap:RelatedPartyMember 2025-12-31 0001729173 us-gaap:ShortTermDebtMember us-gaap:RelatedPartyMember 2025-01-01 2025-12-31 0001729173 us-gaap:ShortTermDebtMember us-gaap:NonrelatedPartyMember 2024-12-31 0001729173 us-gaap:ShortTermDebtMember us-gaap:NonrelatedPartyMember 2025-12-31 0001729173 us-gaap:ShortTermDebtMember us-gaap:NonrelatedPartyMember 2025-01-01 2025-12-31 0001729173 srt:MinimumMember us-gaap:ShortTermDebtMember us-gaap:NonrelatedPartyMember 2025-12-31 0001729173 srt:MaximumMember us-gaap:ShortTermDebtMember us-gaap:NonrelatedPartyMember 2025-12-31 0001729173 us-gaap:ShortTermDebtMember 2024-12-31 0001729173 us-gaap:ShortTermDebtMember 2025-12-31 0001729173 us-gaap:LongTermDebtMember us-gaap:NonrelatedPartyMember 2024-12-31 0001729173 us-gaap:LongTermDebtMember us-gaap:NonrelatedPartyMember 2025-12-31 0001729173 us-gaap:LongTermDebtMember us-gaap:NonrelatedPartyMember 2025-01-01 2025-12-31 0001729173 us-gaap:LongTermDebtMember us-gaap:RelatedPartyMember 2024-12-31 0001729173 us-gaap:LongTermDebtMember us-gaap:RelatedPartyMember 2025-12-31 0001729173 us-gaap:LongTermDebtMember us-gaap:RelatedPartyMember 2025-01-01 2025-12-31 0001729173 UXIN:WorkingCapitalFacilityMember 2025-12-31 0001729173 srt:MinimumMember UXIN:InventoryPledgedFinancingFacilityMember 2025-01-01 2025-12-31 0001729173 srt:MaximumMember UXIN:InventoryPledgedFinancingFacilityMember 2025-01-01 2025-12-31 0001729173 UXIN:InventoryPledgedFinancingFacilityMember 2025-12-31 0001729173 UXIN:InventoryPledgedFinancingUnusedFacilityMember 2025-12-31 0001729173 us-gaap:LongTermDebtMember UXIN:PintuBeijingMember UXIN:LoanAgreementMember 2024-09-12 0001729173 us-gaap:CommonClassAMember UXIN:LoanAgreementMember 2024-09-13 0001729173 us-gaap:LongTermDebtMember UXIN:LoanAgreementMember 2024-09-13 2024-09-13 0001729173 us-gaap:LongTermDebtMember UXIN:PintuBeijingMember UXIN:LoanAgreementMember 2025-04-01 2025-04-30 0001729173 us-gaap:LongTermDebtMember UXIN:UxinLimitedMember UXIN:LoanAgreementMember 2024-11-21 2024-11-21 0001729173 us-gaap:LongTermDebtMember UXIN:UxinLimitedMember UXIN:LoanAgreementMember 2024-11-21 0001729173 2025-12-08 0001729173 us-gaap:NonrelatedPartyMember 2024-12-31 0001729173 us-gaap:NonrelatedPartyMember 2025-12-31 0001729173 us-gaap:LongTermDebtMember UXIN:LoanAgreementMember 2025-11-21 0001729173 UXIN:JulyAgreementTwoThousandTwentyMember 2020-03-31 0001729173 UXIN:SupplementalAgreementMember 2021-06-21 0001729173 UXIN:SupplementalAgreementMember 2021-07-12 0001729173 UXIN:SupplementalAgreementMember 2023-06-28 0001729173 UXIN:SupplementalAgreementMember 2023-06-28 2023-06-28 0001729173 UXIN:SupplementalAgreementMember 2023-12-31 0001729173 UXIN:SupplementalAgreementMember 2023-12-31 2023-12-31 0001729173 UXIN:SupplementalAgreementMember 2024-06-21 0001729173 UXIN:SupplementalAgreementMember 2024-06-21 2024-06-21 0001729173 UXIN:SupplementalAgreementMember 2025-06-30 2025-06-30 0001729173 srt:MinimumMember 2025-12-31 0001729173 srt:MaximumMember 2025-12-31 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember 2023-10-31 0001729173 2024-01-31 0001729173 2024-09-30 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember 2025-04-30 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember us-gaap:SubsequentEventMember 2026-03-31 0001729173 UXIN:MrKunDaiMember 2024-02-22 2024-02-22 0001729173 UXIN:MrKunDaiMember 2024-02-22 0001729173 us-gaap:StateAdministrationOfTaxationChinaMember 2007-03-16 2007-03-16 0001729173 us-gaap:StateAdministrationOfTaxationChinaMember UXIN:OtherSubsidiariesMember 2025-01-01 2025-12-31 0001729173 UXIN:ChineseMainlandMember 2023-04-01 2024-03-31 0001729173 UXIN:ChineseMainlandMember 2024-04-01 2024-12-31 0001729173 UXIN:ChineseMainlandMember 2025-01-01 2025-12-31 0001729173 UXIN:OtherJurisdictionsMember 2023-04-01 2024-03-31 0001729173 UXIN:OtherJurisdictionsMember 2024-04-01 2024-12-31 0001729173 UXIN:OtherJurisdictionsMember 2025-01-01 2025-12-31 0001729173 UXIN:CaymanMember 2025-01-01 2025-12-31 0001729173 2024-04-01 2025-12-31 0001729173 UXIN:NioCapitalAndJoyCapitalMember 2021-06-01 2021-06-30 0001729173 UXIN:FirstClosingMember UXIN:NioCapitalAndJoyCapitalMember 2021-07-12 2021-07-12 0001729173 UXIN:NioCapitalAndJoyCapitalMember 2021-06-30 0001729173 2021-06-01 2021-06-30 0001729173 UXIN:SecondClosingMember 2024-04-01 2024-12-31 0001729173 UXIN:SecondClosingMember 2021-11-01 2021-11-30 0001729173 UXIN:SecondClosingMember 2022-03-01 2022-03-31 0001729173 UXIN:SecondClosingMember 2022-06-01 2022-06-30 0001729173 UXIN:SecondClosingMember 2022-07-01 2022-07-31 0001729173 UXIN:SecondClosingMember 2023-03-01 2023-03-31 0001729173 UXIN:NioCapitalMember 2022-06-01 2022-06-30 0001729173 UXIN:NioCapitalMember 2022-07-01 2022-07-31 0001729173 UXIN:NioCapitalMember 2022-10-01 2022-10-31 0001729173 UXIN:NioCapitalMember 2023-03-01 2023-03-31 0001729173 UXIN:NioCapitalMember 2023-03-31 0001729173 UXIN:NioCapitalMember 2023-04-04 0001729173 UXIN:NioCapitalMember 2023-04-01 2023-04-30 0001729173 UXIN:NioCapitalMember 2023-10-01 2023-10-31 0001729173 UXIN:NioCapitalMember 2024-05-31 0001729173 UXIN:NioCapitalMember 2024-06-30 0001729173 UXIN:NioCapitalMember 2024-07-31 0001729173 UXIN:XinGaoGroupLtdMember 2024-03-26 2024-03-26 0001729173 UXIN:XinGaoGroupLtdMember 2024-03-26 0001729173 us-gaap:CommonClassAMember UXIN:TwentyTwentyOneSubscriptionAgreementMember 2025-12-31 0001729173 us-gaap:CommonClassAMember UXIN:TwoThousandTwentyTwoSubscriptionAgreementMember 2025-12-31 0001729173 us-gaap:CommonClassAMember UXIN:TwoThousandTwentyOneSubscriptionAgreementMember 2025-12-31 0001729173 UXIN:JoyCapitalMember us-gaap:CommonClassAMember 2023-08-01 0001729173 UXIN:XinGaoGroupLimitedMember us-gaap:CommonClassAMember 2024-03-26 0001729173 UXIN:XinGaoGroupLimitedMember us-gaap:CommonClassAMember 2024-03-27 0001729173 UXIN:SeniorConvertiblePreferredsharesMember 2022-07-01 2022-07-31 0001729173 UXIN:SeniorConvertiblePreferredsharesMember 2022-08-01 2022-08-31 0001729173 UXIN:SeniorConvertiblePreferredsharesMember 2024-03-01 2024-03-31 0001729173 UXIN:SeniorConvertiblePreferredsharesMember 2023-08-01 2023-08-31 0001729173 us-gaap:MeasurementInputRiskFreeInterestRateMember UXIN:SeniorConvertiblePreferredStockMember 2023-04-01 2024-03-31 0001729173 us-gaap:MeasurementInputPriceVolatilityMember UXIN:SeniorConvertiblePreferredStockMember 2023-04-01 2024-03-31 0001729173 us-gaap:MeasurementInputExpectedDividendRateMember UXIN:SeniorConvertiblePreferredStockMember 2023-04-01 2024-03-31 0001729173 srt:MinimumMember us-gaap:MeasurementInputExpectedTermMember UXIN:SeniorConvertiblePreferredStockMember 2023-04-01 2024-03-31 0001729173 srt:MaximumMember us-gaap:MeasurementInputExpectedTermMember UXIN:SeniorConvertiblePreferredStockMember 2023-04-01 2024-03-31 0001729173 us-gaap:WarrantMember 2023-03-31 0001729173 us-gaap:WarrantMember 2023-04-01 2024-03-31 0001729173 us-gaap:WarrantMember 2024-03-31 0001729173 us-gaap:WarrantMember 2024-12-31 0001729173 us-gaap:WarrantMember 2025-12-31 0001729173 us-gaap:WarrantMember 2025-01-01 2025-12-31 0001729173 srt:MinimumMember us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2024-03-31 0001729173 srt:MaximumMember us-gaap:WarrantMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2024-03-31 0001729173 srt:MinimumMember us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2024-03-31 0001729173 srt:MaximumMember us-gaap:WarrantMember us-gaap:MeasurementInputPriceVolatilityMember 2024-03-31 0001729173 us-gaap:WarrantMember us-gaap:MeasurementInputExpectedDividendRateMember 2024-03-31 0001729173 srt:MinimumMember us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2024-03-31 0001729173 srt:MaximumMember us-gaap:WarrantMember us-gaap:MeasurementInputExpectedTermMember 2024-03-31 0001729173 srt:MinimumMember us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2024-03-31 0001729173 srt:MaximumMember us-gaap:WarrantMember us-gaap:MeasurementInputSharePriceMember 2024-03-31 0001729173 UXIN:UxinHefeiMember 2025-12-31 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember 2023-10-01 2023-10-31 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember 2025-04-01 2025-04-30 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember us-gaap:SubsequentEventMember 2026-03-01 2026-03-31 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember 2023-10-31 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember 2025-04-30 0001729173 UXIN:HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember us-gaap:SubsequentEventMember 2026-03-31 0001729173 UXIN:UxinAnhuiMember 2024-10-01 2024-10-31 0001729173 UXIN:WuhanJunshanMember 2024-10-01 2024-10-31 0001729173 UXIN:WuhanJunshanMember 2025-01-01 2025-12-31 0001729173 UXIN:UxinWuhanMember 2024-10-31 0001729173 UXIN:UxinAnhuiMember 2024-07-08 2024-07-08 0001729173 UXIN:ZhengzhouMember 2024-07-08 2024-07-08 0001729173 UXIN:ZhengzhouMember 2025-01-01 2025-12-31 0001729173 UXIN:UxinZhengzhouMember 2025-01-01 2025-12-31 0001729173 UXIN:UxinZhengzhouMember 2024-07-08 0001729173 us-gaap:CommonStockMember 2025-12-31 0001729173 us-gaap:CommonClassAMember 2025-01-01 2025-12-31 0001729173 us-gaap:CommonStockMember 2024-12-31 0001729173 us-gaap:CommonClassAMember 2024-01-01 2024-12-31 0001729173 UXIN:SupplementalAgreementWith2024NotesHoldersMember 2021-06-01 2021-06-30 0001729173 UXIN:SupplementalAgreementWith2024NotesHoldersMember us-gaap:CommonClassAMember 2021-06-01 2021-06-30 0001729173 UXIN:SupplementalAgreementWith2024NotesHoldersMember us-gaap:CommonClassAMember 2021-06-30 0001729173 UXIN:SupplementalAgreementWith2024NotesHoldersMember us-gaap:CommonClassAMember 2021-07-12 2021-07-12 0001729173 UXIN:Notes2024Member UXIN:FiftyEight.comMember us-gaap:CommonClassAMember 2022-07-01 2022-07-31 0001729173 UXIN:Notes2024Member UXIN:FiftyEight.comMember us-gaap:CommonClassAMember 2022-07-31 0001729173 UXIN:Notes2024Member UXIN:FiftyEight.comMember 2022-07-31 0001729173 us-gaap:CommonClassAMember 2022-07-31 0001729173 UXIN:Notes2024Member UXIN:ClearVueMember us-gaap:CommonClassAMember 2022-08-01 2022-08-31 0001729173 UXIN:Notes2024Member UXIN:ClearVueMember 2022-08-31 0001729173 us-gaap:CommonClassAMember 2022-08-31 0001729173 UXIN:Notes2024Member UXIN:ClearVueMember 2022-08-01 2022-08-31 0001729173 us-gaap:ConvertiblePreferredStockMember 2024-03-27 0001729173 us-gaap:CommonClassAMember 2024-03-27 0001729173 2024-03-27 0001729173 UXIN:NioCapitalMember 2025-09-30 0001729173 us-gaap:CommonClassAMember UXIN:LightwindGlobalLimitedMember 2024-11-01 2024-11-30 0001729173 us-gaap:CommonClassAMember UXIN:LightwindGlobalLimitedMember 2024-11-30 0001729173 us-gaap:CommonClassAMember UXIN:LightwindGlobalLimitedMember 2025-01-01 2025-12-31 0001729173 us-gaap:CommonClassAMember UXIN:FameDragonGlobalMember 2025-03-01 2025-03-31 0001729173 us-gaap:CommonClassAMember UXIN:FameDragonGlobalMember 2025-03-31 0001729173 2025-03-31 0001729173 us-gaap:CommonClassAMember UXIN:FameDragonGlobalMember 2025-01-01 2025-12-31 0001729173 UXIN:DefinitiveAgreementsMember 2025-12-18 2025-12-18 0001729173 us-gaap:CommonClassAMember UXIN:DefinitiveAgreementsMember 2025-12-18 0001729173 us-gaap:CommonClassAMember UXIN:DefinitiveAgreementsMember 2025-12-18 2025-12-18 0001729173 us-gaap:CommonClassAMember UXIN:AbundantGraceInvestmentLimitedMember 2025-01-01 2025-12-31 0001729173 us-gaap:CommonClassAMember UXIN:DefinitiveAgreementsMember UXIN:AbundantGraceInvestmentLimitedMember 2025-01-01 2025-12-31 0001729173 UXIN:SubscriptionAgreementsMember 2025-12-26 2025-12-26 0001729173 us-gaap:CommonClassAMember UXIN:SubscriptionAgreementsMember 2025-12-26 0001729173 us-gaap:CommonClassAMember UXIN:SubscriptionAgreementsMember 2025-12-26 2025-12-26 0001729173 us-gaap:CommonClassAMember us-gaap:SubsequentEventMember UXIN:GoldWingsHoldingsLimitedMember 2026-04-01 2026-04-01 0001729173 us-gaap:PerformanceSharesMember 2023-10-01 2023-10-31 0001729173 us-gaap:PerformanceSharesMember 2024-08-01 2024-08-31 0001729173 us-gaap:PerformanceSharesMember UXIN:GeneralAndAdministrativeExpensesMember 2023-04-01 2024-03-31 0001729173 us-gaap:PerformanceSharesMember UXIN:GeneralAndAdministrativeExpensesMember 2024-04-01 2024-12-31 0001729173 us-gaap:PerformanceSharesMember UXIN:GeneralAndAdministrativeExpensesMember 2025-01-01 2025-12-31 0001729173 us-gaap:PerformanceSharesMember 2025-12-31 0001729173 UXIN:GeneralAndAdministrativeExpensesMember 2023-04-01 2024-03-31 0001729173 UXIN:GeneralAndAdministrativeExpensesMember 2024-04-01 2024-12-31 0001729173 UXIN:GeneralAndAdministrativeExpensesMember 2025-01-01 2025-12-31 0001729173 UXIN:ResearchAndDevelopmentExpensesMember 2023-04-01 2024-03-31 0001729173 UXIN:ResearchAndDevelopmentExpensesMember 2024-04-01 2024-12-31 0001729173 UXIN:ResearchAndDevelopmentExpensesMember 2025-01-01 2025-12-31 0001729173 UXIN:SellingAndMarketingExpensesMember 2023-04-01 2024-03-31 0001729173 UXIN:SellingAndMarketingExpensesMember 2024-04-01 2024-12-31 0001729173 UXIN:SellingAndMarketingExpensesMember 2025-01-01 2025-12-31 0001729173 2022-07-27 2022-07-27 0001729173 2023-08-17 2023-08-17 0001729173 2024-03-26 2024-03-26 0001729173 us-gaap:PerformanceSharesMember 2025-01-01 2025-12-31 0001729173 us-gaap:PerformanceSharesMember 2023-04-01 2024-03-31 0001729173 us-gaap:PerformanceSharesMember 2024-04-01 2024-12-31 0001729173 us-gaap:PerformanceSharesMember 2025-01-01 2025-12-31 0001729173 us-gaap:ForwardContractsMember 2023-04-01 2024-03-31 0001729173 us-gaap:ForwardContractsMember 2024-04-01 2024-12-31 0001729173 us-gaap:ForwardContractsMember 2025-01-01 2025-12-31 0001729173 UXIN:SeniorConvertiblePreferredStockMember 2023-04-01 2024-03-31 0001729173 UXIN:SeniorConvertiblePreferredStockMember 2024-04-01 2024-12-31 0001729173 UXIN:SeniorConvertiblePreferredStockMember 2025-01-01 2025-12-31 0001729173 us-gaap:EmployeeStockOptionMember 2023-04-01 2024-03-31 0001729173 us-gaap:EmployeeStockOptionMember 2024-04-01 2024-12-31 0001729173 us-gaap:EmployeeStockOptionMember 2025-01-01 2025-12-31 0001729173 UXIN:UxinAnhuiMember us-gaap:SubsequentEventMember UXIN:EquityInvestmentAgreementMember 2026-03-01 2026-03-31 0001729173 UXIN:HuigangQihangMember us-gaap:SubsequentEventMember UXIN:EquityInvestmentAgreementMember 2026-03-01 2026-03-31 0001729173 UXIN:ChanFaKeChuangMember us-gaap:SubsequentEventMember UXIN:EquityInvestmentAgreementMember 2026-03-01 2026-03-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember 2024-12-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember 2025-12-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember us-gaap:CommonClassAMember 2024-12-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember us-gaap:CommonClassBMember 2024-12-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember us-gaap:CommonClassAMember 2025-12-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember us-gaap:CommonClassBMember 2025-12-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember 2023-04-01 2024-03-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember 2024-04-01 2024-12-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember 2025-01-01 2025-12-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember 2023-03-31 0001729173 srt:ParentCompanyMember srt:ReportableLegalEntitiesMember 2024-03-31 0001729173 2023-04-01 2023-12-31 iso4217:USD shares iso4217:USD shares pure iso4217:CNY iso4217:CNY shares UXIN:Integer false FY 0001729173

http://fasb.org/us-gaap/2025#UsefulLifeTermOfLeaseMember

20-F false true 2025-12-31 --12-31 2025 false false 001-38527 Uxin Limited E9 21/F, Donghuang Building No. 16 Guangshun South Avenue Chaoyang District Beijing 100102 CN Feng Lin +86 10 5691-6765 ir@xin.com 21/F, Donghuang Building No. 16 Guangshun South Avenue Chaoyang District Beijing 100102 CN American depositary shares (one American depositary share representing 300 Class A ordinary shares, par value US$0.0001 per share) UXIN NASDAQ Class A ordinary shares, par value US$0.0001 per share true NASDAQ 64892337575 40809861 No No Yes Yes Accelerated Filer false true false U.S. GAAP false true Cybersecurity risk management is an <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_905_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250101__20251231_z0dNtXs8J60c">integral part of our overall risk management program. Our cybersecurity risk management program is based on industry best practices and provide a framework for handling cybersecurity threats and incidents, including threats and incidents associated with the use of applications developed and services provided by <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_905_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20250101__20251231_zymix8Aozf3f">third-party service providers, and facilitate coordination across different departments of our company. This framework includes steps for <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90E_ecyd--CybersecurityRiskThirdPartyOversightAndIdentificationProcessesFlag_dbT_c20250101__20251231_zJSjnL2tDPe6">assessing the severity of a cybersecurity threat, identifying the source of a cybersecurity threat including whether the cybersecurity threat is associated with a third-party service provider, implementing cybersecurity countermeasures and mitigation strategies and informing management and our board of directors of material cybersecurity threats and incidents. Our cybersecurity team also engages third-party security experts for risk assessment and our cybersecurity team is responsible for our system enhancements. In addition, our cybersecurity team provides training to all employees annually. <p class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_988_ecyd--CybersecurityRiskBoardOfDirectorsOversightTextBlock_c20250101__20251231_z5u7DR8C2jXf" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">Our <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250101__20251231_zZGWmbiUXuUc">board of directors has overall oversight responsibility for our risk management, and delegates cybersecurity risk management oversight to the audit committee of the board of directors. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90F_ecyd--CybersecurityRiskProcessForInformingBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250101__20251231_zr9Kt0XdDWF3">audit committee is responsible for ensuring that management has processes in place designed to identify and evaluate cybersecurity risks to which the company is exposed and implement processes and programs to manage cybersecurity risks and mitigate cybersecurity incidents. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_902_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleReportToBoardFlag_dbT_c20250101__20251231_zLdSU9Vmfusa">audit committee also reports material cybersecurity risks to our full board of directors. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_904_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleTextBlock_c20250101__20251231_zALpUspcaNv8"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250101__20251231_z4fI98BJa7Dj">Management is responsible for identifying, considering and assessing material cybersecurity risks on an ongoing basis, establishing processes to ensure that such potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation measures and maintaining cybersecurity programs. Our cybersecurity programs are under the direction of our chief executive officer who receives reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskManagementExpertiseOfManagementResponsibleTextBlock_c20250101__20251231_zZebawl7ceec">Our chief executive officer has rich management experience, including cybersecurity management. Our vice president of technology, the member of our cybersecurity team, is an experienced information system security professional and information security manager with years of experience. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90D_ecyd--CybersecurityRiskProcessForInformingManagementOrCommitteesResponsibleTextBlock_c20250101__20251231_ztrZQEeWFAb">Management, including the chief executive officer and our cybersecurity team, regularly update the audit committee on the company’s cybersecurity programs, material cybersecurity risks and mitigation strategies and provide cybersecurity reports annually that cover, among other topics, third-party assessments of the company’s cybersecurity programs, developments in cybersecurity and updates to the company’s cybersecurity programs and mitigation strategies. In the fiscal year ended December 31, 2025, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_c20250101__20251231_zrERkyjuYun1">we <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90A_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_z0Cm9G4DCHrd">did not identify any cybersecurity threats that have materially affected or are reasonably likely to materially affect our business strategy, results of operations, or financial condition. However, despite our efforts, we cannot eliminate all risks from cybersecurity threats, or provide assurances that we have not experienced an undetected cybersecurity incident. For more information about these risks, please see “Item 3. Key Information—3D. Risk Factors—Risk Related to Our Business and Industry—Our business generates and processes a large amount of data, and we are required to comply with PRC and other applicable laws relating to privacy and cybersecurity. The improper use or disclosure of data could have a material and adverse effect on our business and prospects” on pages 15 to 18 of this annual report. true true true Our <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250101__20251231_zZGWmbiUXuUc">board of directors has overall oversight responsibility for our risk management, and delegates cybersecurity risk management oversight to the audit committee of the board of directors. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90F_ecyd--CybersecurityRiskProcessForInformingBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250101__20251231_zr9Kt0XdDWF3">audit committee is responsible for ensuring that management has processes in place designed to identify and evaluate cybersecurity risks to which the company is exposed and implement processes and programs to manage cybersecurity risks and mitigate cybersecurity incidents. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_902_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleReportToBoardFlag_dbT_c20250101__20251231_zLdSU9Vmfusa">audit committee also reports material cybersecurity risks to our full board of directors. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_904_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleTextBlock_c20250101__20251231_zALpUspcaNv8"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250101__20251231_z4fI98BJa7Dj">Management is responsible for identifying, considering and assessing material cybersecurity risks on an ongoing basis, establishing processes to ensure that such potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation measures and maintaining cybersecurity programs. Our cybersecurity programs are under the direction of our chief executive officer who receives reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90B_ecyd--CybersecurityRiskManagementExpertiseOfManagementResponsibleTextBlock_c20250101__20251231_zZebawl7ceec">Our chief executive officer has rich management experience, including cybersecurity management. Our vice president of technology, the member of our cybersecurity team, is an experienced information system security professional and information security manager with years of experience. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90D_ecyd--CybersecurityRiskProcessForInformingManagementOrCommitteesResponsibleTextBlock_c20250101__20251231_ztrZQEeWFAb">Management, including the chief executive officer and our cybersecurity team, regularly update the audit committee on the company’s cybersecurity programs, material cybersecurity risks and mitigation strategies and provide cybersecurity reports annually that cover, among other topics, third-party assessments of the company’s cybersecurity programs, developments in cybersecurity and updates to the company’s cybersecurity programs and mitigation strategies. board of directors has overall oversight responsibility for our risk management, and delegates cybersecurity risk management oversight to the audit committee of the board of directors audit committee is responsible for ensuring that management has processes in place designed to identify and evaluate cybersecurity risks to which the company is exposed and implement processes and programs to manage cybersecurity risks and mitigate cybersecurity incidents true <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250101__20251231_z4fI98BJa7Dj">Management is responsible for identifying, considering and assessing material cybersecurity risks on an ongoing basis, establishing processes to ensure that such potential cybersecurity risk exposures are monitored, putting in place appropriate mitigation measures and maintaining cybersecurity programs. Our cybersecurity programs are under the direction of our chief executive officer who receives reports from our cybersecurity team and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents. true Our chief executive officer has rich management experience, including cybersecurity management. Our vice president of technology, the member of our cybersecurity team, is an experienced information system security professional and information security manager with years of experience. Management, including the chief executive officer and our cybersecurity team, regularly update the audit committee on the company’s cybersecurity programs, material cybersecurity risks and mitigation strategies and provide cybersecurity reports annually that cover, among other topics, third-party assessments of the company’s cybersecurity programs, developments in cybersecurity and updates to the company’s cybersecurity programs and mitigation strategies. we <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90A_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250101__20251231_z0Cm9G4DCHrd">did not identify any cybersecurity threats that have materially affected or are reasonably likely to materially affect our business strategy, results of operations, or financial condition. However, despite our efforts, we cannot eliminate all risks from cybersecurity threats, or provide assurances that we have not experienced an undetected cybersecurity incident. For more information about these risks, please see “Item 3. Key Information—3D. false 1424 PricewaterhouseCoopers Zhong Tian LLP Shanghai, the People’s Republic of China

25112000

83006000

11870000

767000

71000

10000

4150000

4613000

660000

207390000

545554000

78013000

7710000

21113000

14105000

14998000

23186000

3316000

86977000

87466000

12506000

339394000

743896000

106375000

71420000

85447000

12219000

1346728000

1319087000

188627000

194388000

270325000

38656000

1612536000

1674859000

239502000

1951930000

2418755000

345877000

81584000

65009000

9296000

306391000

291338000

41661000

183852000

187541000

26818000

14563000

35842000

5125000

174616000

397161000

56793000

1000000

762006000

976891000

139693000

53913000

10000000

1430000

10000000

1430000

27237000

1141118000

1081322000

154627000

180920000

245373000

35088000

1403188000

1336695000

191145000

2165194000

2313586000

330838000

154977000

380857000

54462000

44800000 6406000

154977000

336057000

48056000

0.0001

190100000000

56354853138

64892337575

40809861

39816000

45922000

6567000

19007948000

19370282000

2769913000

-60467000 -21165000 -3027000

227718000

234630000

33552000

-19583017000

-19860557000

-2840022000

-368002000

-230888000

-33017000

-239000

-368241000

-230888000

-33017000

1951930000

2418755000

345877000

1024401000

1322493000

3021239000

432031000

315909000

127229000

123866000

17713000

34419000

45484000

94588000

13526000

1374729000

1495206000

3239693000

463270000

1294161000

1392815000

3023298000

432326000

80568000

102391000

216395000

30944000

202493000

177192000

349411000

49965000

33820000

8136000

12409000

1774000

177386000

123536000

89691000

12826000

-2631000 -285000 -463000 -66000

411068000

308579000

451048000

64499000

18001000 31677000 61085000 8735000

-312499000

-174511000

-173568000

-24820000

169000

37000

66000

9000

62598000

69061000

94466000

13508000

15870000

9826000

10442000

1493000

5941000

3516000

5297000

757000

1525000

279000

394000

56000

-11776000

35222000

-375250000

-201724000

-262429000

-37527000

311000

39000

6000

11970000

-5951000

2429000

-369542000

-199334000

-262468000

-37533000

-369542000

-199334000

-262468000

-37533000

2845000 4978000 15072000 2155000 -372387000 -204312000 -277540000 -39688000 -2060254000

-2432641000

-204312000

-277540000

-39688000

-369542000

-199334000

-262468000

-37533000

4905000

2628000

6912000

988000

-364637000

-196706000

-255556000

-36545000

-2845000 -4978000 -15072000 -2155000

-367482000

-201684000

-270628000

-38700000

-2432641000

-204312000

-277540000

-39688000

2185363635

56744742647

62756316162

2185363635

56744742647

62756316162

-1.11

-0.00

-1.11

-0.00

1410826415

806000

15451803000

220185000

-16946064000

-1273270000

-175000

-1273445000

4905000 4905000 4905000

-369486000

-56000

-369542000

-2901000 -2901000 -2901000

2060254000

-2060254000

54960889255

38993000

1369688000

-107879000

1300802000

9765729

7000

-3000

4000

47095000

56381481399

39806000

18928837000

-107879000

225090000

-19378705000

-292851000

-231000

-293082000

56381481399

39806000

18928837000

-107879000

225090000

-19378705000

-292851000

-231000

-293082000

-2425000 2628000 203000 203000

-199326000

-8000

-199334000

-4986000 -4986000 -4986000

14181600

10000

-7000

3000

49837000

-5809000

84927000

56395662999

39816000

19007948000

-60467000

227718000

-19583017000

-368002000

-239000

-368241000

56395662999

39816000

19007948000

-60467000

227718000

-19583017000

-368002000

-239000

-368241000

6912000 6912000 6912000

-262707000

239000

-262468000

-14833000 -14833000 -14833000

55371000

39000

-39000

8482113437

6067000

317790000

39302000

363159000

44583000

64933147436

45922000

19370282000

-21165000

234630000

-19860557000

-230888000

64933147436

45922000

19370282000

-21165000

234630000

-19860557000

-230888000

-369542000

-199334000

-262468000

-37533000

75806000

84927000

44583000

6375000

12264000

8248000

9646000

1379000

28557000

34360000

52570000

7517000

-512000

-417000

-56000

-8000

-5951000

2429000

6626000

7829000

1120000

3461000

9310000

9950000

25029000

3579000

-2631000 -285000 -463000 -66000 -3761000 -833000 -712000 -102000 -11776000 10604000 9703000 45383000 6490000

35222000

15312000 10111000 44900000 6419000 -2342000 -285000 -463000 -66000

11622000

105838000

364488000

52121000

33030000

46724000

92455000

13223000

495000

12324000

25665000

3670000

40000000 22500000 30000000 4290000

-262446000

-193980000

-504352000

-72120000

1354000

336000

323000

46000

12693000

5163000

21475000

3071000

2429000

-11339000

-2398000

-21152000

-3025000

78181000

165211000

275343000

39374000

20000000

14433000

96851000

13850000

2308000 3578000 512000

4000

3000

38500000 5505000 147116000 49837000

368125000

52641000

205301000

198310000

581539000

83158000

-914000

14000

1163000

166000

-69398000

1946000

57198000

8179000

93331000

23933000

25879000

3701000

23933000

25879000

83077000

11880000

288000

52000

40000

6000

2586000

6584000

13404000

1917000

147090000 127746000 18267000 417223000 271200000

<p id="xdx_804_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zJSVPj2KHHCi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">1. PRINCIPAL ACTIVITIES AND ORGANIZATION The accompanying consolidated financial statements include the financial statements of Uxin Limited (the “Company” or “Uxin”) and its subsidiaries. The Company and its subsidiaries are collectively referred to as the “Group”. The Company was incorporated under the laws of the Cayman Islands as an 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’s principal operations and geographic market is in the People’s Republic of China (“PRC”). The Group operates vehicle sales business through an “inventory-owning” model where the Group sells its own inventory of used vehicles. <p id="xdx_890_ecustom--ScheduleOfPrincipalSubsidiariesAndConsolidatedVariableInterestEntitiesTableTextBlock_z2bu6MjUxpka" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">As of December 31, 2025, the Company’s principal subsidiaries are as follows: SCHEDULE OF COMPANY’S PRINCIPAL SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Subsidiaries</td> <td style="text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Place of incorporation</td> <td style="text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Date of incorporation or acquisition</td> <td style="text-align: center"> </td> <td colspan="2">Percentage of direct or indirect equity ownership </td> <td style="text-align: center"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Principal activities</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%"> </td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 12%"> </td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 16%"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 12%"> </td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 14%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Youxin (Hefei) Automobile Intelligent Remanufacturing Co., Ltd. (“Uxin Hefei”)</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Hefei</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90B_ecustom--DateOfIncorporation_dd_c20250101__20251231__srt--OwnershipAxis__custom--YouxinAutomobileIntelligentRemanufacturingCoLtdMember_zvKgjOj64lpa" title="Date of incorporation or acquisition">September 8, 2021</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_900_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--YouxinAutomobileIntelligentRemanufacturingCoLtdMember_zLB2rj7vFAsf" title="Percentage of direct or indirect in equity ownership">79.58</td> <td style="text-align: left; vertical-align: bottom">% </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90E_ecustom--PrincipalActivitiesDescription_c20250101__20251231__srt--OwnershipAxis__custom--YouxinAutomobileIntelligentRemanufacturingCoLtdMember_zXMibjXNndxi" title="Principal activities, description">Vehicle sales</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Youtang (Shaanxi) Information Technology Co., Ltd.</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Xi’an</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">May 12, 2022</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_904_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--YoutangShaanxiInformationTechnologyCoLtdMember_z52tFzwqHXXe" title="Percentage of direct or indirect in equity ownership">100.00</td> <td style="text-align: left; vertical-align: bottom">%</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90F_ecustom--PrincipalActivitiesDescription_c20250101__20251231__srt--OwnershipAxis__custom--YoutangShaanxiInformationTechnologyCoLtdMember_zmIo3R7SPw38" title="Principal activities, description">Vehicle sales</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Wuhan Youxin Intelligent Remanufacturing Co., Ltd. (“Uxin Wuhan”)</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Wuhan</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">October 16, 2024</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90D_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--WuhanYouxinIntelligentRemanufacturingCoLtdMember_zEfiLTfoqXw5" title="Percentage of direct or indirect in equity ownership">66.70</td> <td style="text-align: left; vertical-align: bottom">%</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90A_ecustom--PrincipalActivitiesDescription_c20250101__20251231__srt--OwnershipAxis__custom--WuhanYouxinIntelligentRemanufacturingCoLtdMember_zlIPxJeFoOgf" title="Principal activities, description">Vehicle sales</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Youxin (Zhengzhou) Intelligent Remanufacturing Co., Ltd. (“Uxin Zhengzhou”)</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Zhengzhou</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_903_ecustom--DateOfIncorporation_dd_c20250101__20251231__srt--OwnershipAxis__custom--YouxinZhengzhouIntelligentRemanufacturingCoLtdMember_zpR6CMiDu1W9" title="Date of incorporation or acquisition">July 16, 2024 </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90A_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--YouxinZhengzhouIntelligentRemanufacturingCoLtdMember_z9l48XpuCbH7" title="Percentage of direct or indirect in equity ownership">70.59</td> <td style="text-align: left; vertical-align: bottom">%</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_909_ecustom--PrincipalActivitiesDescription_c20250101__20251231__srt--OwnershipAxis__custom--YouxinZhengzhouIntelligentRemanufacturingCoLtdMember_zfDJhrFxPTvf" title="Principal activities, description">Vehicle sales</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Youlu (Shandong) Used Car Trading Co., Ltd.</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Jinan</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">September 23, 2024 </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90B_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--YouluShandongUsedCarTradingCoLtdMember_zvsrtNY52unf" title="Percentage of direct or indirect in equity ownership">100.00</td> <td style="text-align: left; vertical-align: bottom">%</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Vehicle sales</td></tr> </table> In March 2025, the Company disposed Youfang (Beijing) Information Technology Co., Ltd. to a third party at nil consideration, net gains from disposal of the subsidiary amounting to RMB<span id="xdx_902_eus-gaap--GainOrLossOnSaleOfStockInSubsidiary_uRMB_c20250301__20250331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--YoufangBeijingInformationTechnologyCoLtdMember_zwvQEonds4zl" title="Gain from disposal of subsidiary">5,863 were recorded in other income. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 1. PRINCIPAL ACTIVITIES AND ORGANIZATION (CONTINUED) Liquidity The Company has incurred net losses since inception. For the year ended December 31, 2025, the Company incurred net loss of RMB262.5 million and had net operating cash outflow of RMB504.4 million. As of December 31, 2025, the Company had accumulated deficit in the amount of RMB19.9 billion, its current liabilities exceeded current assets by approximately RMB233.0 million, the Company’s cash balance was RMB83.0 million. These adverse conditions and events, before considering management’s plan, raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent on the effective implementation of management’s plan to mitigate these conditions and events. A summary of management’s plan includes: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2025, the Company had outstanding borrowings of RMB<span id="xdx_906_eus-gaap--DebtInstrumentCollateralAmount_iI_pn5n6_c20251231__us-gaap--TypeOfArrangementAxis__custom--InventoryPledgedFinancingFacilityAgreementsMember_zM9m84nHvyPd" title="Outstanding borrowings">313.1 million under the inventory-pledged financing facility agreements with certain banks and financial institutions in the PRC, with unused facilities amounting to RMB<span id="xdx_901_eus-gaap--LineOfCreditFacilityRemainingBorrowingCapacity_iI_pn5n6_c20251231__us-gaap--TypeOfArrangementAxis__custom--InventoryPledgedFinancingFacilityAgreementsMember_z6qW5dCPGYf7" title="Line of credit remaining borrwings">323.9 million. These facility agreements will mature within one year since the date of the issuance of the consolidated financial statements and management will make efforts to continue the cooperations with the banks and financial institutions with the plan to obtain renewals when the facility agreements become mature.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Management plans to obtain additional funds through equity financing transactions, including:</td></tr></table> In December 2025, the Company entered into share subscription agreements with certain existing shareholders and their affiliated entities, including Abundant Grace Investment Limited (“Abundant Grace”), Prestige Shine Group Limited (“Prestige Shine”) and Abundant Glory Investment L.P. (“Abundant Glory”) for issuance of shares with a total consideration of US$60.0 million (Note 16). As of the date of the issuance of the consolidated financial statements, the Company has received US$<span id="xdx_901_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_uUSD_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__dei--LegalEntityAxis__custom--FameDragonGlobalLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zssl6iQlBrMh" title="Number of issuing">17.0 million. Based on the arrangement with these investors, management expects to receive the remaining consideration of US$<span id="xdx_902_eus-gaap--BusinessCombinationConsiderationTransferredOther1_pn5n6_uUSD_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__dei--LegalEntityAxis__custom--FameDragonGlobalLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLX6hlS3xHYi" title="Consideration">43.0 million no later than June 30, 2026. Pursuant to an equity investment agreement entered into in September 2023 with Hefei Construction Investment North City Industrial Investment Co., Ltd. (“HCI”), which is also the lessor of the Company’s used car retail superstore (the “Superstore”), HCI is obligated to reinvest in Uxin Hefei after receiving the annual lease payments over a 10-year lease period. The first three year rental payables were agreed with HCI to be converted into the investment of its equity interests in Uxin Hefei (Note 15). The fourth-year rental will become due in September 2026 and management plans to further agree with HCI to convert the fourth-year rental payable into HCI’s investment. Management plans to receive the capital contributions of RMB37.5 million and RMB7.3 million from two non-controlling shareholders of its two subsidiaries which operate the superstores in Zhengzhou and Wuhan by the end of December 2026 according to the equity investment agreements with these non-controlling shareholders. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">With the funds from the above equity and debt financings, the Company will increase the scale of vehicle purchase and inventory level in order to drive up the Company’s vehicle sales volume and revenue, while maintaining vehicle inventory turnover by managing vehicle sale prices. In addition, the Company plans to improve the Company’s gross profit margin by promoting other value-added services offered to customers. The management’s plan also contemplates that, in view of the uncertainties in connection with the above equity and debt financings, management will make necessary adjustments to the operation scale of the Company by managing vehicle purchase volume based on the liquidity position of the Company, and optimize the Company’s cost structure to reduce expenses such as labour costs, advertising expenses and administrative expenses.</td></tr></table> Management has concluded that it is probable to effectively implement the above plans and has prepared a cash flows forecast covering a period of not less than twelve months from the date of issuance of the consolidated financial statements. Based on its evaluation, management concluded that these plans have alleviated the substantial doubt about the Company’s ability to continue as a going concern, and the Company’s cash and cash equivalents, funds from the planned equity and debt financings and cash flows from operations are sufficient for the Company to meet its anticipated working capital requirements and other capital commitments, and the Company will be able to meet its payment obligations for liabilities that will fall due, within the next twelve months from the date these consolidated financial statements are issued. Accordingly, the Company’s consolidated financial statements have been prepared on a going concern basis. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

<p id="xdx_890_ecustom--ScheduleOfPrincipalSubsidiariesAndConsolidatedVariableInterestEntitiesTableTextBlock_z2bu6MjUxpka" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">As of December 31, 2025, the Company’s principal subsidiaries are as follows: SCHEDULE OF COMPANY’S PRINCIPAL SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Subsidiaries</td> <td style="text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Place of incorporation</td> <td style="text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Date of incorporation or acquisition</td> <td style="text-align: center"> </td> <td colspan="2">Percentage of direct or indirect equity ownership </td> <td style="text-align: center"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">Principal activities</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%"> </td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 12%"> </td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 16%"> </td> <td style="width: 2%"> </td> <td style="width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 12%"> </td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 14%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Youxin (Hefei) Automobile Intelligent Remanufacturing Co., Ltd. (“Uxin Hefei”)</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Hefei</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90B_ecustom--DateOfIncorporation_dd_c20250101__20251231__srt--OwnershipAxis__custom--YouxinAutomobileIntelligentRemanufacturingCoLtdMember_zvKgjOj64lpa" title="Date of incorporation or acquisition">September 8, 2021</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_900_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--YouxinAutomobileIntelligentRemanufacturingCoLtdMember_zLB2rj7vFAsf" title="Percentage of direct or indirect in equity ownership">79.58</td> <td style="text-align: left; vertical-align: bottom">% </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90E_ecustom--PrincipalActivitiesDescription_c20250101__20251231__srt--OwnershipAxis__custom--YouxinAutomobileIntelligentRemanufacturingCoLtdMember_zXMibjXNndxi" title="Principal activities, description">Vehicle sales</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Youtang (Shaanxi) Information Technology Co., Ltd.</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Xi’an</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">May 12, 2022</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_904_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--YoutangShaanxiInformationTechnologyCoLtdMember_z52tFzwqHXXe" title="Percentage of direct or indirect in equity ownership">100.00</td> <td style="text-align: left; vertical-align: bottom">%</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90F_ecustom--PrincipalActivitiesDescription_c20250101__20251231__srt--OwnershipAxis__custom--YoutangShaanxiInformationTechnologyCoLtdMember_zmIo3R7SPw38" title="Principal activities, description">Vehicle sales</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Wuhan Youxin Intelligent Remanufacturing Co., Ltd. (“Uxin Wuhan”)</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Wuhan</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">October 16, 2024</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90D_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--WuhanYouxinIntelligentRemanufacturingCoLtdMember_zEfiLTfoqXw5" title="Percentage of direct or indirect in equity ownership">66.70</td> <td style="text-align: left; vertical-align: bottom">%</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90A_ecustom--PrincipalActivitiesDescription_c20250101__20251231__srt--OwnershipAxis__custom--WuhanYouxinIntelligentRemanufacturingCoLtdMember_zlIPxJeFoOgf" title="Principal activities, description">Vehicle sales</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Youxin (Zhengzhou) Intelligent Remanufacturing Co., Ltd. (“Uxin Zhengzhou”)</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Zhengzhou</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_903_ecustom--DateOfIncorporation_dd_c20250101__20251231__srt--OwnershipAxis__custom--YouxinZhengzhouIntelligentRemanufacturingCoLtdMember_zpR6CMiDu1W9" title="Date of incorporation or acquisition">July 16, 2024 </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90A_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--YouxinZhengzhouIntelligentRemanufacturingCoLtdMember_z9l48XpuCbH7" title="Percentage of direct or indirect in equity ownership">70.59</td> <td style="text-align: left; vertical-align: bottom">%</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_909_ecustom--PrincipalActivitiesDescription_c20250101__20251231__srt--OwnershipAxis__custom--YouxinZhengzhouIntelligentRemanufacturingCoLtdMember_zfDJhrFxPTvf" title="Principal activities, description">Vehicle sales</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Youlu (Shandong) Used Car Trading Co., Ltd.</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Jinan</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">September 23, 2024 </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><span id="xdx_90B_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20251231__srt--OwnershipAxis__custom--YouluShandongUsedCarTradingCoLtdMember_zvsrtNY52unf" title="Percentage of direct or indirect in equity ownership">100.00</td> <td style="text-align: left; vertical-align: bottom">%</td> <td style="text-align: left; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Vehicle sales</td></tr> </table> Hefei 2021-09-08

0.7958

Vehicle sales Xi’an 2022-05-12

1.0000

Vehicle sales Wuhan 2024-10-16

0.6670

Vehicle sales Zhengzhou 2024-07-16

0.7059

Vehicle sales Jinan 2024-09-23

1.0000

Vehicle sales

5863

-262500000

-504400000

-19900000000

233000000.0

83000000.0

313100000

323900000

60000000.0

17000000.0

43000000.0

37500000

7300000

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 Group’s consolidated financial statements include the financial statements of the Company and its 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. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. 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. 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. Accounting estimates reflected in the Group’s consolidated financial statements include, but are not limited to the fair value of a down round feature triggered for senior convertible preferred shares, the fair value of warrant liabilities and forward contracts, the fair value of share-based compensation arrangements, the fair value of the long-term investment, the fair value of redeemable common shares at the time of the conversion, the fair value of redeemable NCI, provision for credit losses for loans recognized as a result of payments under guarantees, trade receivables and other receivables, impairment of long-lived assets, the useful lives of property, equipment and software, the economic life of finance lease, discount rate applied in lease accounting, inventory provision, valuation allowances for deferred tax assets and management assumptions used in going concern assessment. Given that changes in circumstances, facts and experience may cause the Group to revise its estimates, actual results could differ from those estimates. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 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: <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 0.75in">Level 1 —</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Quoted prices (unadjusted) for identical assets or liabilities in active markets</td></tr> <tr style="vertical-align: top"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Level 2 —</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">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</td></tr> <tr style="vertical-align: top"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Level 3 —</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Unobservable inputs which are supported by little or no market activity</td></tr> </table> Financial instruments of the Company primarily are comprised of cash and cash equivalents, accounts receivable, short-term borrowings and long-term and borrowing, accounts payable, other payables and other current liabilities. Except for warrant liabilities which are measured at fair value as of March 31, 2024, t he carrying values approximated the fair values of these instruments because of their generally short maturities as of December 31, 2024 and 2025. The warrant liabilities were recorded at the fair value at the inception date and classified as a Level 3 measurement. <p id="xdx_840_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zdlKEsAPmO08" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.5 Foreign currencies The Group uses Renminbi (“RMB”) as its reporting currency. The USD (“US$”) is the functional currency of the Group’s entities incorporated in Cayman Islands, British Virgin Islands and Hong Kong, and the RMB is the functional currency of the Group’s PRC subsidiaries. Transactions denominated in other than the functional currencies are translated into the functional currency of the entity at the exchange rates quoted by authoritative banks prevailing on the transaction dates. Exchange gains and losses resulting from those foreign currency transactions denominated in a currency other than the functional currency are recorded in the Consolidated Statements of Comprehensive Loss. The financial statements of the Group are translated from the functional currency into RMB. Assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into RMB at the appropriate historical rates. Revenues, expenses, gain and loss are translated into RMB using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in accumulated other comprehensive income as a component of shareholders’ deficit. <p id="xdx_84D_ecustom--ForeignCurrencyConvenienceTranslationsPolicyPolicyTextBlock_zspudjMLo98l" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.6 Convenience translation Translations of Consolidated Balance Sheets, the Consolidated Statements of Comprehensive Loss and the Consolidated Statements of Cash Flows from RMB into US$ as of and for the year ended December 31, 2025 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.9931 on December 31, 2025 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2025, or at any other rate. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.7 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. <p id="xdx_849_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zYwE78ucO65k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.8 Restricted cash As of December 31, 2024 and 2025, restricted cash primarily represents cash reserved in relation to certain litigations. 2.9 Inventory Inventory consists primarily of used vehicles and is stated at the lower of cost or net realizable value. Inventory cost is determined by specific identification and includes acquisition cost, direct and indirect reconditioning costs and inbound transportation expenses. Net realizable value represents the estimated selling price less costs to complete, dispose and transport the vehicles. Each reporting period the Company recognizes any necessary adjustments to reflect vehicle inventory at the lower of cost or net realizable value in the cost of revenues in the Consolidated Statements of Comprehensive Loss. Total carrying amount of used vehicles was RMB207.4 million and RMB545.6 million as of December 31, 2024 and 2025, respectively. Total amount of inventory write-downs recorded for used vehicles were RMB9.3 million, RMB10.0 million and RMB25.0 million for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively. 2.10 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: <p id="xdx_896_ecustom--ScheduleOfPropertyPlantAndEquipmentUsefulLifeTableTextBlock_znQMCza9u0Qg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> SCHEDULE OF PROPERTY EQUIPMENT AND SOFTWARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 40%">Electronic equipment</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 60%"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--TechnologyEquipmentMember_z8l7OYYp8Q7g" title="Estimated useful lives (in years)">3 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Furniture</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zzA3zx2IKWb7" title="Estimated useful lives (in years)">5 years</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Vehicles and motors</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zuvD06JljySe" title="Estimated useful lives (in years)">4 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Software</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_zUcKrtdPIgl4" title="Estimated useful lives (in years)">5 years</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Machine</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zi3RDgpxFnhb" title="Estimated useful lives (in years)">12 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Leasehold improvement</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zerFPzuH1Uj6" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember">lesser of the term of the lease or the estimated useful lives of the assets</td></tr> </table> The Company recognizes the gain or loss on the disposal of property, equipment and software in the Consolidated Statements of Comprehensive Loss. 2.11 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. The Company also holds investments in privately held companies in the form of equity securities without readily determinable fair values and in which the Company does not have a controlling interest or significant influence. In accordance with ASC 321 Investment- Equity Securities, investments in equity securities without readily determinable fair values are initially recorded at cost and are subsequently adjusted to fair value for impairments and price changes from observable transactions in the same or a similar security from the same issuer. Impairment provision recognized was RMB3.5 million, nil and nil for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.11 Long-term investments (continued) Pursuant to ASC 321, for equity investments measured at fair value with changes in fair value recorded in earnings, the Company does not assess whether those securities are impaired. Based on ASU 2016-01, the Company will be able to elect to record equity investments without readily determinable fair values and not accounted for by the equity method either at fair value with changes in fair value recognized in net income or at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer (“measurement alternative”). For equity investments without readily determinable fair value for which the Company has elected to use the measurement alternative, at each reporting period, the Company makes a qualitative assessment of whether the investment is impaired at each reporting date, applying significant judgement in considering various factors and events including a) adverse performance of investees, credit rating, asset quality, or business prospects of the investee; b) adverse industry developments affecting investees; and c) adverse regulatory, social, economic or other developments affecting investees. If a qualitative assessment indicates that the investment is impaired, the Company estimates the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Company recognizes an impairment loss in earnings equal to the difference between the carrying value and fair value. <p id="xdx_842_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_za7HLrrrFyGg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.12 Impairment of long-lived assets Long-lived assets including property, equipment, financing and operating lease right-of-use assets and software 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. When these events occur, the Group will assess whether an impairment of the long-lived assets in question exists by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the asset and its eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the asset, the Group recognizes an impairment loss based on the excess of the carrying value of the asset over the fair value of the asset. No impairment of long-lived assets was recognized for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025. <p id="xdx_846_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_z4TeR3TN3z58" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.13 Revenue recognition 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, the Group applies 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. The Company considered appropriate methods to allocate the transaction price to each performance obligations, based on the relative standalone selling prices of the services provided. In estimating the standalone selling price for the 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 standalone selling prices of similar services. Revenue is recognized upon transfer of control of these promised goods or services to a customer. Revenue is recorded net off value-added-tax. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.13 Revenue recognition (continued) Retail vehicle sales business The Company sells used vehicles directly to its customers through two ways: in-store purchase at its used car superstores for regional customers or online purchase for nationwide customers. The prices of used vehicles are set forth in the customer contracts at stand-alone selling prices which are agreed upon prior to delivery. The Company satisfies its performance obligation for used vehicles sales when the consumer obtains control of the underlying vehicles. The Company receives payment for used vehicle sales directly from the consumer at the time of sale. Payments received prior to delivery or pick-up of used vehicles are recorded as “Other payables and other current liabilities” within the Consolidated Balance Sheets. Wholesale vehicle sales business The Company sells vehicles to wholesalers through offline dealership. The Company satisfies its performance obligation and recognizes revenue for wholesale vehicle sales at the point in time when the wholesale purchasers obtain control of the underlying vehicles. The payments are received when the vehicles are sold. Others It mainly represented the commissions earned from the Group’s financing and insurance partners from introducing them to the Company’s retail customers with financing needs, as well as revenues earned from warranty services. <p id="xdx_846_ecustom--ValueAddedTaxAndSurchargesPolicyPolicyTextBlock_zJzbMse1tcvg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.14 Value-added-tax (“VAT”) and surcharges The Company’s subsidiaries 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. SCHEDULE OF VALUE-ADDED TAX RATE FOR GENERAL VAT PAYERS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: Black 1pt solid; padding: 0pt; text-align: justify; text-indent: 0pt">Type of service</td> <td style="padding: 0pt; text-indent: 0pt"> </td> <td style="border-bottom: Black 1pt solid; padding: 0pt; text-align: center">Applicable VAT rate (%)</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 49%">Vehicle sales </td> <td style="padding: 0pt; width: 2%; text-indent: 0pt"> </td> <td style="padding: 0pt; text-align: center; width: 49%">0.5%</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Other services</td> <td style="padding: 0pt; text-indent: 0pt"> </td> <td style="padding: 0pt; text-align: center">6 ~ 13%</td></tr> </table> The surcharges (i.e. urban construction and maintenance tax, educational surtax, local educational surtax), vary from 1% to 7% 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. 2.15 Cost of revenues Cost of revenues includes the cost to acquire used vehicles and direct and indirect vehicle reconditioning costs associated with preparing the vehicles for resale and warranty services. Cost of revenues also includes any necessary adjustments to reflect vehicle inventory at the lower of cost or net realizable value. 2.16 Sales and marketing expenses Sales and marketing expenses primarily consist of salaries and benefits expenses for sales and marketing personnel, advertising and promotion expenses, after-sales costs, depreciation expenses of its superstore right-of-use assets and other office costs. Advertising and promotion expenses primarily include costs for online advertising, which comprises online traffic acquisition costs, as well as offline marketing activities. Salaries and benefits for employees engaged in aftersales services and costs relating to outbound logistics were classified as “Sales and marketing expense”. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.17 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 the consolidated financial statements. <p id="xdx_84F_eus-gaap--SellingGeneralAndAdministrativeExpensesPolicyTextBlock_zdTg3FSTReri" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.18 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. <p id="xdx_849_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zkSwn1PmePn8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.19 Share-based compensation The Company grants share options, restricted shares and restricted share units (“RSUs”) to eligible employees, director and executive officers. All share-based awards are measured at fair value on the grant date. The share-based compensation expenses have been categorized as either cost of revenues, sales and marketing expenses, research and development expenses, or general and administrative expenses, depending on the job functions of the grantees. Share Options Granted The Company follows ASC 718 to determine whether a share option should be classified and accounted for as a liability award or equity award. All grants of share-based awards 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. Restricted Shares and RSUs For the restricted shares, the awards are measured at fair value on the grant date. Share-based compensation expense is recognized using the straight-line method over the requisite service period or immediately at the grant date if no vesting conditions are required. For grants of RSUs with certain market conditions, it is classified as equity awards and recognized in the financial statements based on their grant date fair values which are determined using the Monte Carlo valuation model, which incorporates various assumptions including expected stock price volatility, risk-free interest rates, and expected timing and proceeds received due to the exercise of warrants and settlement of forward contracts (Note 14). Related expenses are recognized over the derived service period determined based on valuation techniques that are used to estimate fair value and is not adjusted if the market condition is not met, so long as the requisite service is provided. The assumptions used in share-based compensation expense recognition represent management’s best estimates, but these estimates involve inherent uncertainties and application of management judgment. If factors change or different assumptions are used, the share-based compensation expenses could be materially different for any period. Moreover, the estimates of fair value of the awards are not intended to predict actual future events or the value that ultimately will be realized by grantees who receive share-based awards. In accordance with ASU 2016-09, the Group made an entity-wide accounting policy election to account for forfeitures when they occur. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.20 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 statements 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. Undistributed earnings are expected to be indefinitely reinvested for the foreseeable future, if any. 2.21 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, including senior convertible preferred shares, 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. The diluted loss per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. 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. Except for voting rights, the Class A and Class B ordinary shares have all the same rights and therefore the loss per share for both classes of shares are identical. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.22 Leases The Company determines if an arrangement is or contains a lease at inception. Operating leases are primarily for offices and stores and are included in Right-of-use assets, net, Operating lease liabilities, current and Operating lease liabilities, non-current on its Consolidated Balance Sheets. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and Operating lease liabilities represent obligation to make lease payment arising from the lease. The operating lease right of use assets and liabilities are recognized at lease commencement date based on the present value of lease payment over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The right of use assets also includes any lease payments made. The Company’s lease term may include options to extend or terminate the lease. Renewal options are considered within the operating lease right of use assets and liabilities when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Finance lease assets are presented as finance lease right-of-use assets, net, and the corresponding finance lease liabilities are included in current portion of finance lease liabilities for the current portion, and in finance lease liabilities within non-current liabilities on the Consolidated Balance Sheets. Finance lease costs consists of interest expense on the finance lease liabilities as well as amortization of the finance lease right-of-use assets on a straight-line basis over the lease term. For operating leases with a term of one year or less, the Company has elected to not recognize a lease liability or lease right of use asset on its Consolidated Balance Sheets. Instead, it recognizes the lease payment as expense on a straight-line basis over the lease term. Short-term lease costs are immaterial to its Consolidated Statements of Comprehensive Loss. The Company has operating lease agreements with insignificant non-lease components and has elected the practical expedient to combine and account for lease and non-lease components as a single lease component. <p id="xdx_84E_eus-gaap--CreditLossFinancialInstrumentPolicyTextBlock_zi9QrwEZOz72" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.23 Provision for credit losses The Company has several types of financial assets and liabilities that are subject to ASC 326’s CECL model. The CECL reserves for credit loss represents the Company’s best estimate of the expected lifetime credit losses for accounts receivable, loans recognized as a result of payments under guarantees and other receivables as of the balance sheet dates. The adequacy of the reserves for credit losses is assessed quarterly; and the assumptions and models used in establishing the allowance are evaluated regularly. Because credit losses can vary substantially over time, estimating credit loss reserves requires the Company to estimate lifetime expected credit losses by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period beyond the balance sheet date. Measurement of CECL reserve The Company estimates its CECL reserve for different financial instruments using various methods including the probability-of-default method, the loss rate method, the roll rate method and the discounted cash flow method. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt">●</td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt">For loans recognized as a result of payments under guarantees and financial lease receivables, the loss rate method is applied as the comprehensive product impact of Probability of Default (“PD”) and Loss Given Default (“LGD”).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt">●</td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt">The roll rate model is adopted for accounts receivable; while for some other receivables which cannot be pooled with financial assets with similar risk characteristics, the reserve for credit losses is evaluated on an individual basis using the discounted cash flow method.</td></tr></table> Note that to incorporate the forward-looking impacts based on the Company’s best macroeconomic forecasts, quantitative adjustments are applied to key parameters such as PD, LGD, loss rates, and roll rates on a collective basis. The Company groups its financial instruments into pools by credit status, product types, accounts receivable aging schedule, collateral types and other risk characteristics as appropriate in the calibration and adjustments of these parameters. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) <p id="xdx_84E_ecustom--AccountingOfDownRoundFeaturesPolicyPolicyTextBlock_zVCYWARZTHQl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.24 Accounting of the down round feature The Company assesses whether there are circumstances that trigger the down round feature for convertible preferred shares and warrants. When the down round feature is triggered, the Company considers the provision of ASC 260-10-30-1 and measures the value of the effect of the feature as the difference between (a) the fair value of the issued financial instrument (without the down round feature) with a conversion or exercise price corresponding to the stated conversion or exercise price before the conversion or exercise price reduction and (b) the fair value of the issued financial instrument (without the down round feature) with a conversion or exercise price corresponding to the reduced conversion or exercise price upon the down round feature being triggered. The excess value of the convertible preferred shares or warrant resulting from the triggering of the down round feature as determined on the measurement date shall be a deemed dividend to the preferred shareholders or to the warrant holders, which should be deducted to arrive at net income/(loss) to ordinary shareholders. Therefore, recognition of the fair value of the down round feature results in a charge to retained earnings/(accumulated deficit) and a credit to additional paid-in capital in permanent equity rather than mezzanine equity. <p id="xdx_84E_ecustom--AccountingOfTheForwardContractPolicyPolicyTextBlock_zZJR9PWw413d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.25 Accounting of the forward contract The Company evaluates forward contracts over its own equity to determine the appropriate classification as assets, liabilities, or equity. Forward contracts that are considered indexed to the Company’s own stock and meet the requirements for equity classification are classified as equity with no subsequent remeasurement. Forward contracts that are not considered indexed to the Company’s own stock are classified as assets or liabilities and initially recognized at fair value on the Consolidated Balance Sheets, and subsequently remeasured at fair value each reporting period, with changes in fair value recognized in the Consolidated Statements of Comprehensive Loss. <p id="xdx_846_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zQBTQqbSl1ul" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.26 Recent accounting pronouncements Recently adopted accounting pronouncements: In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement. This standard updates the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. This update is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025. The Company adopted ASU 2023-05 for the year ended December 31, 2025. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity′s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024 and retrospective application is permitted. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2023-09 for the year ended December 31, 2025. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.26 Recent accounting pronouncements (continued) Recently issued accounting pronouncements not yet adopted In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses. This ASU requires public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. Although ASU 2024-03 requires comparative disclosures for all periods presented, entities are permitted to begin applying the guidance prospectively. Therefore, comparative disclosures are not required for reporting periods beginning before the effective date. Entities may elect to apply ASU 2024-03 retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting ASU 2024-03. In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets. This ASU provides a practical expedient to assume that current conditions as of the balance sheet date will persist through the reasonable and supportable forecast period for eligible assets. This update is effective for fiscal years beginning after December 15, 2025, and interim periods within those annual reporting periods. An entity that elects the practical expedient and the accounting policy election, if applicable, should apply the amendments in this Update prospectively. The Company is currently evaluating the impact of adopting ASU 2025-05. In September 2025, the FASB issued a final standard to modernize the accounting guidance for the costs to develop software for internal use. The new guidance amends the existing standard that refers to various stages of a software development project to align better with current software development methods, such as agile programming. The new guidance will be effective for all entities for annual periods beginning after December 15, 2027. The guidance can be applied on a fully prospective basis, a modified basis for in-process projects, or a full retrospective basis. The Company is currently evaluating the impact of adopting the new guidance. In December 2025, the FASB issued Accounting Standards Update No. 2025-10, Government Grants (Topic 832). This ASU establishes authoritative guidance on the accounting for government grants received by business entities. ASU 2025-10 is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods for public business entities, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-10. In December 2025, the FASB issued Accounting Standards Update No. 2025-12, Codification Improvements. This ASU makes other incremental improvements to generally accepted accounting principles(GAAP) which facilitates Codification updates for a broad range of Topics arising from technical corrections, unintended application of the Codification, clarifications, and other minor improvements. ASU 2025-12 is effective for a annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-10. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

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 Group’s consolidated financial statements include the financial statements of the Company and its 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. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.

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. 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. Accounting estimates reflected in the Group’s consolidated financial statements include, but are not limited to the fair value of a down round feature triggered for senior convertible preferred shares, the fair value of warrant liabilities and forward contracts, the fair value of share-based compensation arrangements, the fair value of the long-term investment, the fair value of redeemable common shares at the time of the conversion, the fair value of redeemable NCI, provision for credit losses for loans recognized as a result of payments under guarantees, trade receivables and other receivables, impairment of long-lived assets, the useful lives of property, equipment and software, the economic life of finance lease, discount rate applied in lease accounting, inventory provision, valuation allowances for deferred tax assets and management assumptions used in going concern assessment. Given that changes in circumstances, facts and experience may cause the Group to revise its estimates, actual results could differ from those estimates. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

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: <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 0.75in">Level 1 —</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Quoted prices (unadjusted) for identical assets or liabilities in active markets</td></tr> <tr style="vertical-align: top"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Level 2 —</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">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</td></tr> <tr style="vertical-align: top"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Level 3 —</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Unobservable inputs which are supported by little or no market activity</td></tr> </table> Financial instruments of the Company primarily are comprised of cash and cash equivalents, accounts receivable, short-term borrowings and long-term and borrowing, accounts payable, other payables and other current liabilities. Except for warrant liabilities which are measured at fair value as of March 31, 2024, t he carrying values approximated the fair values of these instruments because of their generally short maturities as of December 31, 2024 and 2025. The warrant liabilities were recorded at the fair value at the inception date and classified as a Level 3 measurement.

<p id="xdx_840_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zdlKEsAPmO08" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">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 quoted by authoritative banks prevailing on the transaction dates. Exchange gains and losses resulting from those foreign currency transactions denominated in a currency other than the functional currency are recorded in the Consolidated Statements of Comprehensive Loss. The financial statements of the Group are translated from the functional currency into RMB. Assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into RMB at the appropriate historical rates. Revenues, expenses, gain and loss are translated into RMB using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in accumulated other comprehensive income as a component of shareholders’ deficit.

<p id="xdx_84D_ecustom--ForeignCurrencyConvenienceTranslationsPolicyPolicyTextBlock_zspudjMLo98l" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.6 Convenience translation Translations of 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, 2025 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.9931 on December 31, 2025 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2025, or at any other rate. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

6.9931

2.7 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.

<p id="xdx_849_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zYwE78ucO65k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.8 Restricted cash As of December 31, 2024 and 2025, restricted cash primarily represents cash reserved in relation to certain litigations.

2.9 Inventory Inventory consists primarily of used vehicles and is stated at the lower of cost or net realizable value. Inventory cost is determined by specific identification and includes acquisition cost, direct and indirect reconditioning costs and inbound transportation expenses. Net realizable value represents the estimated selling price less costs to complete, dispose and transport the vehicles. Each reporting period the Company recognizes any necessary adjustments to reflect vehicle inventory at the lower of cost or net realizable value in the cost of revenues in the Consolidated Statements of Comprehensive Loss. Total carrying amount of used vehicles was RMB207.4 million and RMB545.6 million as of December 31, 2024 and 2025, respectively. Total amount of inventory write-downs recorded for used vehicles were RMB9.3 million, RMB10.0 million and RMB25.0 million for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively.

207400000

545600000

9300000 10000000.0 25000000.0

2.10 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: <p id="xdx_896_ecustom--ScheduleOfPropertyPlantAndEquipmentUsefulLifeTableTextBlock_znQMCza9u0Qg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> SCHEDULE OF PROPERTY EQUIPMENT AND SOFTWARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 40%">Electronic equipment</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 60%"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--TechnologyEquipmentMember_z8l7OYYp8Q7g" title="Estimated useful lives (in years)">3 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Furniture</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zzA3zx2IKWb7" title="Estimated useful lives (in years)">5 years</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Vehicles and motors</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zuvD06JljySe" title="Estimated useful lives (in years)">4 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Software</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_zUcKrtdPIgl4" title="Estimated useful lives (in years)">5 years</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Machine</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zi3RDgpxFnhb" title="Estimated useful lives (in years)">12 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Leasehold improvement</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zerFPzuH1Uj6" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember">lesser of the term of the lease or the estimated useful lives of the assets</td></tr> </table> The Company recognizes the gain or loss on the disposal of property, equipment and software in the Consolidated Statements of Comprehensive Loss.

<p id="xdx_896_ecustom--ScheduleOfPropertyPlantAndEquipmentUsefulLifeTableTextBlock_znQMCza9u0Qg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> SCHEDULE OF PROPERTY EQUIPMENT AND SOFTWARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 40%">Electronic equipment</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 60%"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--TechnologyEquipmentMember_z8l7OYYp8Q7g" title="Estimated useful lives (in years)">3 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Furniture</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zzA3zx2IKWb7" title="Estimated useful lives (in years)">5 years</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Vehicles and motors</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zuvD06JljySe" title="Estimated useful lives (in years)">4 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Software</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_zUcKrtdPIgl4" title="Estimated useful lives (in years)">5 years</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Machine</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zi3RDgpxFnhb" title="Estimated useful lives (in years)">12 years</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Leasehold improvement</td> <td style="padding: 0pt; text-align: justify; text-indent: 0pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zerFPzuH1Uj6" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember">lesser of the term of the lease or the estimated useful lives of the assets</td></tr> </table>

P3Y

P5Y

P4Y

P5Y

P12Y

2.11 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. The Company also holds investments in privately held companies in the form of equity securities without readily determinable fair values and in which the Company does not have a controlling interest or significant influence. In accordance with ASC 321 Investment- Equity Securities, investments in equity securities without readily determinable fair values are initially recorded at cost and are subsequently adjusted to fair value for impairments and price changes from observable transactions in the same or a similar security from the same issuer. Impairment provision recognized was RMB3.5 million, nil and nil for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.11 Long-term investments (continued) Pursuant to ASC 321, for equity investments measured at fair value with changes in fair value recorded in earnings, the Company does not assess whether those securities are impaired. Based on ASU 2016-01, the Company will be able to elect to record equity investments without readily determinable fair values and not accounted for by the equity method either at fair value with changes in fair value recognized in net income or at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer (“measurement alternative”). For equity investments without readily determinable fair value for which the Company has elected to use the measurement alternative, at each reporting period, the Company makes a qualitative assessment of whether the investment is impaired at each reporting date, applying significant judgement in considering various factors and events including a) adverse performance of investees, credit rating, asset quality, or business prospects of the investee; b) adverse industry developments affecting investees; and c) adverse regulatory, social, economic or other developments affecting investees. If a qualitative assessment indicates that the investment is impaired, the Company estimates the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Company recognizes an impairment loss in earnings equal to the difference between the carrying value and fair value.

3500000

<p id="xdx_842_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_za7HLrrrFyGg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.12 Impairment of long-lived assets Long-lived assets including property, equipment, financing and operating lease right-of-use assets and software 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. When these events occur, the Group will assess whether an impairment of the long-lived assets in question exists by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the asset and its eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the asset, the Group recognizes an impairment loss based on the excess of the carrying value of the asset over the fair value of the asset. No impairment of long-lived assets was recognized for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025.

<p id="xdx_846_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_z4TeR3TN3z58" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.13 Revenue recognition 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, the Group applies 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. The Company considered appropriate methods to allocate the transaction price to each performance obligations, based on the relative standalone selling prices of the services provided. In estimating the standalone selling price for the 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 standalone selling prices of similar services. Revenue is recognized upon transfer of control of these promised goods or services to a customer. Revenue is recorded net off value-added-tax. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.13 Revenue recognition (continued) Retail vehicle sales business The Company sells used vehicles directly to its customers through two ways: in-store purchase at its used car superstores for regional customers or online purchase for nationwide customers. The prices of used vehicles are set forth in the customer contracts at stand-alone selling prices which are agreed upon prior to delivery. The Company satisfies its performance obligation for used vehicles sales when the consumer obtains control of the underlying vehicles. The Company receives payment for used vehicle sales directly from the consumer at the time of sale. Payments received prior to delivery or pick-up of used vehicles are recorded as “Other payables and other current liabilities” within the Consolidated Balance Sheets. Wholesale vehicle sales business The Company sells vehicles to wholesalers through offline dealership. The Company satisfies its performance obligation and recognizes revenue for wholesale vehicle sales at the point in time when the wholesale purchasers obtain control of the underlying vehicles. The payments are received when the vehicles are sold. Others It mainly represented the commissions earned from the Group’s financing and insurance partners from introducing them to the Company’s retail customers with financing needs, as well as revenues earned from warranty services.

<p id="xdx_846_ecustom--ValueAddedTaxAndSurchargesPolicyPolicyTextBlock_zJzbMse1tcvg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.14 Value-added-tax (“VAT”) and surcharges The Company’s subsidiaries 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. SCHEDULE OF VALUE-ADDED TAX RATE FOR GENERAL VAT PAYERS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: Black 1pt solid; padding: 0pt; text-align: justify; text-indent: 0pt">Type of service</td> <td style="padding: 0pt; text-indent: 0pt"> </td> <td style="border-bottom: Black 1pt solid; padding: 0pt; text-align: center">Applicable VAT rate (%)</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 49%">Vehicle sales </td> <td style="padding: 0pt; width: 2%; text-indent: 0pt"> </td> <td style="padding: 0pt; text-align: center; width: 49%">0.5%</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Other services</td> <td style="padding: 0pt; text-indent: 0pt"> </td> <td style="padding: 0pt; text-align: center">6 ~ 13%</td></tr> </table> The surcharges (i.e. urban construction and maintenance tax, educational surtax, local educational surtax), vary from 1% to 7% 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. The Company’s subsidiaries 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. SCHEDULE OF VALUE-ADDED TAX RATE FOR GENERAL VAT PAYERS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: Black 1pt solid; padding: 0pt; text-align: justify; text-indent: 0pt">Type of service</td> <td style="padding: 0pt; text-indent: 0pt"> </td> <td style="border-bottom: Black 1pt solid; padding: 0pt; text-align: center">Applicable VAT rate (%)</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt; width: 49%">Vehicle sales </td> <td style="padding: 0pt; width: 2%; text-indent: 0pt"> </td> <td style="padding: 0pt; text-align: center; width: 49%">0.5%</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="padding: 0pt; text-align: justify; text-indent: 0pt">Other services</td> <td style="padding: 0pt; text-indent: 0pt"> </td> <td style="padding: 0pt; text-align: center">6 ~ 13%</td></tr> </table> 0.005 0.06 0.13 0.01 0.07

2.15 Cost of revenues Cost of revenues includes the cost to acquire used vehicles and direct and indirect vehicle reconditioning costs associated with preparing the vehicles for resale and warranty services. Cost of revenues also includes any necessary adjustments to reflect vehicle inventory at the lower of cost or net realizable value.

2.16 Sales and marketing expenses Sales and marketing expenses primarily consist of salaries and benefits expenses for sales and marketing personnel, advertising and promotion expenses, after-sales costs, depreciation expenses of its superstore right-of-use assets and other office costs. Advertising and promotion expenses primarily include costs for online advertising, which comprises online traffic acquisition costs, as well as offline marketing activities. Salaries and benefits for employees engaged in aftersales services and costs relating to outbound logistics were classified as “Sales and marketing expense”. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

2.17 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 the consolidated financial statements.

<p id="xdx_84F_eus-gaap--SellingGeneralAndAdministrativeExpensesPolicyTextBlock_zdTg3FSTReri" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.18 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.

<p id="xdx_849_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zkSwn1PmePn8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.19 Share-based compensation The Company grants share options, restricted shares and restricted share units (“RSUs”) to eligible employees, director and executive officers. All share-based awards are measured at fair value on the grant date. The share-based compensation expenses have been categorized as either cost of revenues, sales and marketing expenses, research and development expenses, or general and administrative expenses, depending on the job functions of the grantees. Share Options Granted The Company follows ASC 718 to determine whether a share option should be classified and accounted for as a liability award or equity award. All grants of share-based awards 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. Restricted Shares and RSUs For the restricted shares, the awards are measured at fair value on the grant date. Share-based compensation expense is recognized using the straight-line method over the requisite service period or immediately at the grant date if no vesting conditions are required. For grants of RSUs with certain market conditions, it is classified as equity awards and recognized in the financial statements based on their grant date fair values which are determined using the Monte Carlo valuation model, which incorporates various assumptions including expected stock price volatility, risk-free interest rates, and expected timing and proceeds received due to the exercise of warrants and settlement of forward contracts (Note 14). Related expenses are recognized over the derived service period determined based on valuation techniques that are used to estimate fair value and is not adjusted if the market condition is not met, so long as the requisite service is provided. The assumptions used in share-based compensation expense recognition represent management’s best estimates, but these estimates involve inherent uncertainties and application of management judgment. If factors change or different assumptions are used, the share-based compensation expenses could be materially different for any period. Moreover, the estimates of fair value of the awards are not intended to predict actual future events or the value that ultimately will be realized by grantees who receive share-based awards. In accordance with ASU 2016-09, the Group made an entity-wide accounting policy election to account for forfeitures when they occur. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

2.20 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 statements 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. Undistributed earnings are expected to be indefinitely reinvested for the foreseeable future, if any.

2.21 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, including senior convertible preferred shares, 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. The diluted loss per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. 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. Except for voting rights, the Class A and Class B ordinary shares have all the same rights and therefore the loss per share for both classes of shares are identical. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

2.22 Leases The Company determines if an arrangement is or contains a lease at inception. Operating leases are primarily for offices and stores and are included in Right-of-use assets, net, Operating lease liabilities, current and Operating lease liabilities, non-current on its Consolidated Balance Sheets. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and Operating lease liabilities represent obligation to make lease payment arising from the lease. The operating lease right of use assets and liabilities are recognized at lease commencement date based on the present value of lease payment over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The right of use assets also includes any lease payments made. The Company’s lease term may include options to extend or terminate the lease. Renewal options are considered within the operating lease right of use assets and liabilities when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Finance lease assets are presented as finance lease right-of-use assets, net, and the corresponding finance lease liabilities are included in current portion of finance lease liabilities for the current portion, and in finance lease liabilities within non-current liabilities on the Consolidated Balance Sheets. Finance lease costs consists of interest expense on the finance lease liabilities as well as amortization of the finance lease right-of-use assets on a straight-line basis over the lease term. For operating leases with a term of one year or less, the Company has elected to not recognize a lease liability or lease right of use asset on its Consolidated Balance Sheets. Instead, it recognizes the lease payment as expense on a straight-line basis over the lease term. Short-term lease costs are immaterial to its Consolidated Statements of Comprehensive Loss. The Company has operating lease agreements with insignificant non-lease components and has elected the practical expedient to combine and account for lease and non-lease components as a single lease component.

<p id="xdx_84E_eus-gaap--CreditLossFinancialInstrumentPolicyTextBlock_zi9QrwEZOz72" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.23 Provision for credit losses The Company has several types of financial assets and liabilities that are subject to ASC 326’s CECL model. The CECL reserves for credit loss represents the Company’s best estimate of the expected lifetime credit losses for accounts receivable, loans recognized as a result of payments under guarantees and other receivables as of the balance sheet dates. The adequacy of the reserves for credit losses is assessed quarterly; and the assumptions and models used in establishing the allowance are evaluated regularly. Because credit losses can vary substantially over time, estimating credit loss reserves requires the Company to estimate lifetime expected credit losses by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period beyond the balance sheet date. Measurement of CECL reserve The Company estimates its CECL reserve for different financial instruments using various methods including the probability-of-default method, the loss rate method, the roll rate method and the discounted cash flow method. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt">●</td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt">For loans recognized as a result of payments under guarantees and financial lease receivables, the loss rate method is applied as the comprehensive product impact of Probability of Default (“PD”) and Loss Given Default (“LGD”).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt">●</td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt">The roll rate model is adopted for accounts receivable; while for some other receivables which cannot be pooled with financial assets with similar risk characteristics, the reserve for credit losses is evaluated on an individual basis using the discounted cash flow method.</td></tr></table> Note that to incorporate the forward-looking impacts based on the Company’s best macroeconomic forecasts, quantitative adjustments are applied to key parameters such as PD, LGD, loss rates, and roll rates on a collective basis. The Company groups its financial instruments into pools by credit status, product types, accounts receivable aging schedule, collateral types and other risk characteristics as appropriate in the calibration and adjustments of these parameters. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED)

<p id="xdx_84E_ecustom--AccountingOfDownRoundFeaturesPolicyPolicyTextBlock_zVCYWARZTHQl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.24 Accounting of the down round feature The Company assesses whether there are circumstances that trigger the down round feature for convertible preferred shares and warrants. When the down round feature is triggered, the Company considers the provision of ASC 260-10-30-1 and measures the value of the effect of the feature as the difference between (a) the fair value of the issued financial instrument (without the down round feature) with a conversion or exercise price corresponding to the stated conversion or exercise price before the conversion or exercise price reduction and (b) the fair value of the issued financial instrument (without the down round feature) with a conversion or exercise price corresponding to the reduced conversion or exercise price upon the down round feature being triggered. The excess value of the convertible preferred shares or warrant resulting from the triggering of the down round feature as determined on the measurement date shall be a deemed dividend to the preferred shareholders or to the warrant holders, which should be deducted to arrive at net income/(loss) to ordinary shareholders. Therefore, recognition of the fair value of the down round feature results in a charge to retained earnings/(accumulated deficit) and a credit to additional paid-in capital in permanent equity rather than mezzanine equity. <p id="xdx_84E_ecustom--AccountingOfTheForwardContractPolicyPolicyTextBlock_zZJR9PWw413d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.25 Accounting of the forward contract The Company evaluates forward contracts over its own equity to determine the appropriate classification as assets, liabilities, or equity. Forward contracts that are considered indexed to the Company’s own stock and meet the requirements for equity classification are classified as equity with no subsequent remeasurement. Forward contracts that are not considered indexed to the Company’s own stock are classified as assets or liabilities and initially recognized at fair value on the Consolidated Balance Sheets, and subsequently remeasured at fair value each reporting period, with changes in fair value recognized in the Consolidated Statements of Comprehensive Loss.

<p id="xdx_846_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zQBTQqbSl1ul" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">2.26 Recent accounting pronouncements Recently adopted accounting pronouncements: In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement. This standard updates the accounting for contributions made to a joint venture, upon formation, in a joint venture’s separate financial statements. This update is effective prospectively for all joint venture formations with a formation date on or after January 1, 2025. The Company adopted ASU 2023-05 for the year ended December 31, 2025. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity′s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024 and retrospective application is permitted. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. The Company adopted ASU 2023-09 for the year ended December 31, 2025. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 2. PRINCIPAL ACCOUNTING POLICIES (CONTINUED) 2.26 Recent accounting pronouncements (continued) Recently issued accounting pronouncements not yet adopted In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses. This ASU requires public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. Although ASU 2024-03 requires comparative disclosures for all periods presented, entities are permitted to begin applying the guidance prospectively. Therefore, comparative disclosures are not required for reporting periods beginning before the effective date. Entities may elect to apply ASU 2024-03 retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting ASU 2024-03. In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets. This ASU provides a practical expedient to assume that current conditions as of the balance sheet date will persist through the reasonable and supportable forecast period for eligible assets. This update is effective for fiscal years beginning after December 15, 2025, and interim periods within those annual reporting periods. An entity that elects the practical expedient and the accounting policy election, if applicable, should apply the amendments in this Update prospectively. The Company is currently evaluating the impact of adopting ASU 2025-05. In September 2025, the FASB issued a final standard to modernize the accounting guidance for the costs to develop software for internal use. The new guidance amends the existing standard that refers to various stages of a software development project to align better with current software development methods, such as agile programming. The new guidance will be effective for all entities for annual periods beginning after December 15, 2027. The guidance can be applied on a fully prospective basis, a modified basis for in-process projects, or a full retrospective basis. The Company is currently evaluating the impact of adopting the new guidance. In December 2025, the FASB issued Accounting Standards Update No. 2025-10, Government Grants (Topic 832). This ASU establishes authoritative guidance on the accounting for government grants received by business entities. ASU 2025-10 is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods for public business entities, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-10. In December 2025, the FASB issued Accounting Standards Update No. 2025-12, Codification Improvements. This ASU makes other incremental improvements to generally accepted accounting principles(GAAP) which facilitates Codification updates for a broad range of Topics arising from technical corrections, unintended application of the Codification, clarifications, and other minor improvements. ASU 2025-12 is effective for a annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-10.

3. LOANS RECOGNIZED AS A RESULT OF PAYMENTS UNDER GUARANTEES The Group used to provide loan facilitation related guarantee service before April 2020. The third-party financing partners offered financing solutions to the Borrowers and the Group was required to provide a guarantee. In the event of a payment default from the Borrower, the Group was required to repay the monthly instalment 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. <p id="xdx_896_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zNhCLP9ao541" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4.9pt">SCHEDULE OF ALLOWANCE FOR EXPECTED RECOVERABLE AMOUNTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_zp8clOOW3Pv1" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zQTK1GMtHUJ1" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_maNALRNzwYO_zX9f76cjzE71" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; text-indent: 0pt; padding-left: 0pt">Loans recognized as a result of payments under guarantees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">7,710</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNI_pn3n3_di_msNALRNzwYO_zqQPoS14hM7l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Less: provision for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,710</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NotesAndLoansReceivableNetCurrent_iTI_pn3n3_mtNALRNzwYO_z7EiBFQ73LXk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Loans recognized</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_894_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_hus-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zMADUkoQsEC2" style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">An aging analysis of loans recognized as result of payments under guarantees was as follows: SCHEDULE OF LOANS RECOGNIZED AS A RESULT OF PAYMENTS UNDER GUARANTEES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_zVdVJF8ipq2f" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231_zByQLQYUr12e" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-indent: 0pt; padding-left: 0pt"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--FinancingReceivablesPeriodPastDueAxis__custom--FinancingReceivableOverTwelveMonthsPastDueMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zh6SVdXFB0J8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Over 12 months</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,710</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 3. LOANS RECOGNIZED AS A RESULT OF PAYMENTS UNDER GUARANTEES (CONTINUED) The Group relies on the consumers’ credit history, loan-to-value ratio and other certain application information to evaluate and rank their respective risk on an ongoing basis. The credit grades represent the relative likelihood of repayment. Customers assigned a grade of “Normal” are determined to have the highest probability of repayment, customers assigned a grade of “Attention” are determined to have a lower probability of repayment, and customers assigned a grade of “Secondary” are determined to have a lowest probability of repayment. Loan performance is reviewed on a recurring basis to identify whether the assigned grades adequately reflect the customers’ likelihood of repayment. <p id="xdx_89E_eus-gaap--FinancingReceivableCreditQualityIndicatorsTableTextBlock_hus-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zOVQyjxDbCof" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">The balance of loans recognized as a result of payments under guarantees by grade of monitored credit risk quality indicator as of December 31, 2024 and 2025 were listed as below: SCHEDULE OF BALANCE OF LOANS RECOGNIZED AS A RESULT OF PAYMENTS UNDER GUARANTEES MONITORED CREDIT RISK QUALITY INDICATOR <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_zDRB1JGkPH3k" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_z9xL0GsDJ1P6" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zWxx1x6uq5Y6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt">Normal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zRibUMqiZca6" style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 0pt">Attention</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zdx2uGp1Oa91" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Secondary</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">7,710</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zfLGnNKgEOCj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Loans recognized, net </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,710</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The movement of provision for credit losses for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF MOVEMENT OF PROVISION FOR CREDIT LOSSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: justify">For the nine months ended December 31,</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right; text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; text-indent: 0pt; padding-left: 0pt">Beginning balance of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iS_pn3n3_c20230401__20240331_zUbZmgA6edT5" style="width: 16%; text-align: right" title="Beginning balance of the period">(10,337</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iS_pn3n3_c20240401__20241231_z789Maxuzuz9" style="width: 16%; text-align: right" title="Beginning balance of the period">(7,995</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iS_pn3n3_c20250101__20251231_zWWIXR8mfFie" style="width: 16%; text-align: right" title="Beginning balance of the period">(7,710</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Reversal of credit losses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331_zK9o5QS8gCzb" style="text-align: right" title="Reversal of credit losses">1,719</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231_zh0XfllIKnCh" style="text-align: right" title="Reversal of credit losses">285</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231_zOvCRlqC63b1" style="text-align: right" title="Reversal of credit losses">463</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Payments from the borrowers or other recoveries</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331_zE9HB3iWaufk" style="text-align: right" title="Payments from the borrowers or other recoveries">623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20240401__20241231_zC72Mp6mZid8" style="text-align: right" title="Payments from the borrowers or other recoveries">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20250101__20251231_zwHKHv14cfyl" style="text-align: right" title="Payments from the borrowers or other recoveries">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Write-offs (i)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20230401__20240331_fKGkp_zedoXFvDGPX" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20240401__20241231_fKGkp_zYbAtSajpW4l" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231_fKGkp_zaYC3Fd6aB7" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs">7,247</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Ending balance of the period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iE_pn3n3_c20230401__20240331_z32g5Ac1pFLa" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">(7,995</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iE_pn3n3_c20240401__20241231_zYGNJ9FWfat2" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">(7,710</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iE_pn3n3_c20250101__20251231_zGDaUN0hEKPj" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">In light of the low receivables collection rate recorded in prior years, the Group fully wrote off loans recognized as a result of payments under the guarantees.</td> </tr></table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 3. LOANS RECOGNIZED AS A RESULT OF PAYMENTS UNDER GUARANTEES (CONTINUED) <p id="xdx_899_ecustom--ChangesInAllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_zfdkp0oWRhx" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">The following table explains the changes in the provision of credit losses by grade of monitored credit risk quality indicator as of March 31, 2024, December 31, 2024 and 2025: SCHEDULE OF CHANGES IN PROVISION FOR CREDIT LOSSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Normal</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Attention</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Secondary</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Balance at March 31, 2023</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_ze2o1r3o4HF3" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Beginning balance of the period">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_znGRaVusAi0j" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Beginning balance of the period">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zpDOc15cZfH2" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Beginning balance of the period">(10,337</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20230401__20240331_z4egaXqy3Zf" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Beginning balance of the period">(10,337</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Reversal of credit losses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zu7HOVyzmeTc" style="text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zqD4573chAX3" style="text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zN6vVaShKU5e" style="text-align: right" title="Reversal of/(provision for) credit losses">1,719</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331_zypA5mWYls39" style="text-align: right" title="Reversal of/(provision for) credit losses">1,719</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Payments from the borrowers or other recoveries</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zmSZHJjAC65i" style="border-bottom: Black 1pt solid; text-align: right" title="Payments from the borrowers or other recoveries">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_z7jsT967jdB4" style="border-bottom: Black 1pt solid; text-align: right" title="Payments from the borrowers or other recoveries">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zYQLDH6eTLzl" style="border-bottom: Black 1pt solid; text-align: right" title="Payments from the borrowers or other recoveries">623</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331_zALwz0hKVsP5" style="border-bottom: Black 1pt solid; text-align: right" title="Payments from the borrowers or other recoveries">623</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Balance at March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zVPUeScNawda" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zXAIqQrm4Yrf" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zF6lwk38XNCd" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">(7,995</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20240401__20241231_zUH5NUPtLd7c" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">(7,995</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Reversal of credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zVSoriaTz156" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_ztbtGoN3syaa" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zqFt67SgDFA5" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal of/(provision for) credit losses">285</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231_zt2TqXdPB2Hc" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal of/(provision for) credit losses">285</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iS_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_z7VdJjhBcSDf" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iS_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zaoyufWbv8zb" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zUUcA7I90Yjk" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">(7,710</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20250101__20251231_zpp3wCiLCmy5" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">(7,710</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Reversal of credit losses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zLukXAVa3384" style="text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zKuDb8XRXa6a" style="text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zKBewwgUqKch" style="text-align: right" title="Reversal of/(provision for) credit losses">463</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231_zbkOv3TV7B26" style="text-align: right" title="Reversal of/(provision for) credit losses">463</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Write-offs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zsEK5tGnSuUk" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zeTx5iNoFUhi" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zKxSZwItsPq5" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">7,247</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231_zIHK0ziCGWj3" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">7,247</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iE_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_z9wJpjZeu6f5" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iE_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zbWLrIFI0Pb6" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iE_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zX7ruGY3uLMd" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iE_pn3n3_c20250101__20251231_zO8jC0Ch8pae" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_896_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zNhCLP9ao541" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4.9pt">SCHEDULE OF ALLOWANCE FOR EXPECTED RECOVERABLE AMOUNTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_zp8clOOW3Pv1" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zQTK1GMtHUJ1" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_maNALRNzwYO_zX9f76cjzE71" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; text-indent: 0pt; padding-left: 0pt">Loans recognized as a result of payments under guarantees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">7,710</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNI_pn3n3_di_msNALRNzwYO_zqQPoS14hM7l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Less: provision for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,710</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NotesAndLoansReceivableNetCurrent_iTI_pn3n3_mtNALRNzwYO_z7EiBFQ73LXk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Loans recognized</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

7710000

<p id="xdx_894_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_hus-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zMADUkoQsEC2" style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">An aging analysis of loans recognized as result of payments under guarantees was as follows: SCHEDULE OF LOANS RECOGNIZED AS A RESULT OF PAYMENTS UNDER GUARANTEES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_zVdVJF8ipq2f" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231_zByQLQYUr12e" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-indent: 0pt; padding-left: 0pt"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--FinancingReceivablesPeriodPastDueAxis__custom--FinancingReceivableOverTwelveMonthsPastDueMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zh6SVdXFB0J8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Over 12 months</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,710</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

7710000

<p id="xdx_89E_eus-gaap--FinancingReceivableCreditQualityIndicatorsTableTextBlock_hus-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zOVQyjxDbCof" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">The balance of loans recognized as a result of payments under guarantees by grade of monitored credit risk quality indicator as of December 31, 2024 and 2025 were listed as below: SCHEDULE OF BALANCE OF LOANS RECOGNIZED AS A RESULT OF PAYMENTS UNDER GUARANTEES MONITORED CREDIT RISK QUALITY INDICATOR <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241231_zDRB1JGkPH3k" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_z9xL0GsDJ1P6" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zWxx1x6uq5Y6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt">Normal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zRibUMqiZca6" style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 0pt">Attention</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zdx2uGp1Oa91" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Secondary</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">7,710</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NotesAndLoansReceivableGrossCurrent_iI_pn3n3_hus-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zfLGnNKgEOCj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Loans recognized, net </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,710</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

7710000

The movement of provision for credit losses for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF MOVEMENT OF PROVISION FOR CREDIT LOSSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: justify">For the nine months ended December 31,</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right; text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-weight: bold; text-indent: 0pt; padding-left: 0pt">Beginning balance of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iS_pn3n3_c20230401__20240331_zUbZmgA6edT5" style="width: 16%; text-align: right" title="Beginning balance of the period">(10,337</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iS_pn3n3_c20240401__20241231_z789Maxuzuz9" style="width: 16%; text-align: right" title="Beginning balance of the period">(7,995</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iS_pn3n3_c20250101__20251231_zWWIXR8mfFie" style="width: 16%; text-align: right" title="Beginning balance of the period">(7,710</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Reversal of credit losses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331_zK9o5QS8gCzb" style="text-align: right" title="Reversal of credit losses">1,719</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231_zh0XfllIKnCh" style="text-align: right" title="Reversal of credit losses">285</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231_zOvCRlqC63b1" style="text-align: right" title="Reversal of credit losses">463</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Payments from the borrowers or other recoveries</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331_zE9HB3iWaufk" style="text-align: right" title="Payments from the borrowers or other recoveries">623</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20240401__20241231_zC72Mp6mZid8" style="text-align: right" title="Payments from the borrowers or other recoveries">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20250101__20251231_zwHKHv14cfyl" style="text-align: right" title="Payments from the borrowers or other recoveries">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Write-offs (i)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20230401__20240331_fKGkp_zedoXFvDGPX" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20240401__20241231_fKGkp_zYbAtSajpW4l" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231_fKGkp_zaYC3Fd6aB7" style="border-bottom: Black 1pt solid; text-align: right" title="Write-offs">7,247</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Ending balance of the period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iE_pn3n3_c20230401__20240331_z32g5Ac1pFLa" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">(7,995</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iE_pn3n3_c20240401__20241231_zYGNJ9FWfat2" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">(7,710</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--FinancingReceivableAllowanceForCreditLosses_iE_pn3n3_c20250101__20251231_zGDaUN0hEKPj" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">In light of the low receivables collection rate recorded in prior years, the Group fully wrote off loans recognized as a result of payments under the guarantees.</td> </tr></table>

-10337000

-7995000

-7710000

1719000

285000

463000

623000

7247000

-7995000

-7710000

<p id="xdx_899_ecustom--ChangesInAllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_zfdkp0oWRhx" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">The following table explains the changes in the provision of credit losses by grade of monitored credit risk quality indicator as of March 31, 2024, December 31, 2024 and 2025: SCHEDULE OF CHANGES IN PROVISION FOR CREDIT LOSSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Normal</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Attention</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Secondary</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Balance at March 31, 2023</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_ze2o1r3o4HF3" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Beginning balance of the period">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_znGRaVusAi0j" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Beginning balance of the period">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zpDOc15cZfH2" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Beginning balance of the period">(10,337</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20230401__20240331_z4egaXqy3Zf" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Beginning balance of the period">(10,337</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Reversal of credit losses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zu7HOVyzmeTc" style="text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zqD4573chAX3" style="text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zN6vVaShKU5e" style="text-align: right" title="Reversal of/(provision for) credit losses">1,719</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20230401__20240331_zypA5mWYls39" style="text-align: right" title="Reversal of/(provision for) credit losses">1,719</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Payments from the borrowers or other recoveries</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zmSZHJjAC65i" style="border-bottom: Black 1pt solid; text-align: right" title="Payments from the borrowers or other recoveries">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_z7jsT967jdB4" style="border-bottom: Black 1pt solid; text-align: right" title="Payments from the borrowers or other recoveries">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zYQLDH6eTLzl" style="border-bottom: Black 1pt solid; text-align: right" title="Payments from the borrowers or other recoveries">623</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--FinancingReceivableAllowanceForCreditLossesRecovery_pn3n3_c20230401__20240331_zALwz0hKVsP5" style="border-bottom: Black 1pt solid; text-align: right" title="Payments from the borrowers or other recoveries">623</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Balance at March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zVPUeScNawda" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zXAIqQrm4Yrf" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zF6lwk38XNCd" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">(7,995</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20240401__20241231_zUH5NUPtLd7c" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">(7,995</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Reversal of credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zVSoriaTz156" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_ztbtGoN3syaa" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zqFt67SgDFA5" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal of/(provision for) credit losses">285</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20240401__20241231_zt2TqXdPB2Hc" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal of/(provision for) credit losses">285</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iS_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_z7VdJjhBcSDf" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iS_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zaoyufWbv8zb" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zUUcA7I90Yjk" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">(7,710</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iNS_pn3n3_di_c20250101__20251231_zpp3wCiLCmy5" style="border-bottom: Black 2.5pt double; text-align: right" title="Beginning balance of the period">(7,710</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Reversal of credit losses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zLukXAVa3384" style="text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zKuDb8XRXa6a" style="text-align: right" title="Reversal of/(provision for) credit losses">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zKBewwgUqKch" style="text-align: right" title="Reversal of/(provision for) credit losses">463</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ProvisionForLoanLossesExpensed_pn3n3_c20250101__20251231_zbkOv3TV7B26" style="text-align: right" title="Reversal of/(provision for) credit losses">463</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Write-offs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zsEK5tGnSuUk" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zeTx5iNoFUhi" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zKxSZwItsPq5" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">7,247</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--AllowanceForDoubtfulNotesLoansAndFinancingReceivableWriteOffs_pn3n3_c20250101__20251231_zIHK0ziCGWj3" style="border-bottom: Black 1pt solid; text-align: right" title="Write-off">7,247</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Balance at December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iE_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentNormalMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_z9wJpjZeu6f5" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iE_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentAttentionMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zbWLrIFI0Pb6" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iE_pn3n3_c20250101__20251231__us-gaap--InternalCreditAssessmentAxis__custom--CreditAssessmentSecondaryMember__us-gaap--FinancingReceivablePortfolioSegmentAxis__custom--LoanRecognizedAsResultOfPaymentUnderGuaranteeMember_zX7ruGY3uLMd" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--AllowanceForNotesAndLoansReceivableCurrent_iE_pn3n3_c20250101__20251231_zO8jC0Ch8pae" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance of the period">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

10337000

1719000

623000

7995000

285000

7710000

463000

7247000 7247000 4. OTHER RECEIVABLES, NET <p id="xdx_89A_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_hus-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__custom--OtherReceivablesMember_z5ZXu8eFFiE7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4.9pt"> SCHEDULE OF OTHER RECEIVABLES NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_zEBtIrh1TS61" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231_zfWQE2scaCJi" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--SecurityDeposit_iI_pn3n3_maORGCzBk8_zeXXxr6ZGfw7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify; text-indent: 0pt; padding-left: 0pt">Rental and other deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">24,228</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">33,225</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DueFromEmployeeCurrent_iI_pn3n3_maORGCzBk8_zyI3U4CCbrde" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Staff advance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,883</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,066</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherReceivablesGrossCurrent_iTI_pn3n3_maORNCzlVW_mtORGCzBk8_zm1AXiqXu0uc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt">Other receivables, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,111</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,291</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_pn3n3_di_msORNCzlVW_zETJkKZPccLb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Less: provision for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(21,113</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(14,105</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--OtherReceivablesNetCurrent_iTI_pn3n3_mtORNCzlVW_zA5ygLWwKhpb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Other receivables, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">14,998</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">23,186</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_892_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__custom--OtherReceivablesMember_zShYUOLbudXa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: -0.3pt">The movement of the provision for credit loss for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF PROVISION FOR CREDIT LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20230401__20240331_zFnOZMU38Qk4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240401__20241231_zBcUW89ARVbg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20251231_zPSOzryCqhDf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNS_pn3n3_di_z6cWOMjHXONg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-weight: bold; text-indent: 0pt; padding-left: 0pt">Beginning balance of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(26,541</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(22,739</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(21,113</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--AllowanceForOtherReceivablesWriteOffs_pn3n3_zg3SB7wa96Ug" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Write-offs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,802</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,626</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,008</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNE_pn3n3_di_zseGb303DWZk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Ending balance of the period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(22,739</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,113</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(14,105</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

<p id="xdx_89A_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_hus-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__custom--OtherReceivablesMember_z5ZXu8eFFiE7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4.9pt"> SCHEDULE OF OTHER RECEIVABLES NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_zEBtIrh1TS61" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231_zfWQE2scaCJi" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--SecurityDeposit_iI_pn3n3_maORGCzBk8_zeXXxr6ZGfw7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify; text-indent: 0pt; padding-left: 0pt">Rental and other deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">24,228</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">33,225</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DueFromEmployeeCurrent_iI_pn3n3_maORGCzBk8_zyI3U4CCbrde" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Staff advance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11,883</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,066</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherReceivablesGrossCurrent_iTI_pn3n3_maORNCzlVW_mtORGCzBk8_zm1AXiqXu0uc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 0pt">Other receivables, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,111</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,291</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNI_pn3n3_di_msORNCzlVW_zETJkKZPccLb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Less: provision for credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(21,113</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(14,105</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--OtherReceivablesNetCurrent_iTI_pn3n3_mtORNCzlVW_zA5ygLWwKhpb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Other receivables, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">14,998</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">23,186</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

24228000

33225000

11883000 4066000

36111000

37291000

21113000

14105000

14998000

23186000

<p id="xdx_892_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_hus-gaap--AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis__custom--OtherReceivablesMember_zShYUOLbudXa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: -0.3pt">The movement of the provision for credit loss for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF PROVISION FOR CREDIT LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20230401__20240331_zFnOZMU38Qk4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240401__20241231_zBcUW89ARVbg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20251231_zPSOzryCqhDf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNS_pn3n3_di_z6cWOMjHXONg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-weight: bold; text-indent: 0pt; padding-left: 0pt">Beginning balance of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(26,541</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(22,739</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(21,113</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--AllowanceForOtherReceivablesWriteOffs_pn3n3_zg3SB7wa96Ug" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Write-offs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,802</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,626</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,008</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AllowanceForDoubtfulOtherReceivablesCurrent_iNE_pn3n3_di_zseGb303DWZk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Ending balance of the period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(22,739</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(21,113</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(14,105</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

26541000

22739000

21113000

3802000 1626000 7008000

22739000

21113000

14105000

5. PREPAID EXPENSES AND OTHER CURRENT ASSETS <p id="xdx_891_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zoMmRGsR4yJf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.65pt"> SCHEDULE OF PREPAID EXPENSES AND OTHER ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231_z5nzpj1bRml2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231_zp66rcoVNUa9" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--PrepaidTaxes_iI_pn3n3_maPEAOAzoWf_z0vnJIp26ged" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; text-indent: 0pt; padding-left: 0pt">VAT-input deductible</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">79,151</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">71,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PrepaidMarketingExpense_iI_pn3n3_maPEAOAzoWf_zJGUfYUo9hi1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Prepaid marketing expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,767</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--PrepaidConsultingAndProfessionalServiceFees_iI_pn3n3_maPEAOAzoWf_z5I8P4p3kM8k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Prepaid consulting and professional service fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,741</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,184</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidRent_iI_pn3n3_maPEAOAzoWf_zN1LzpPeReik" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Prepaid rental expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,048</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PrepaidInsurance_iI_pn3n3_maPEAOAzoWf_z9nAk1fHhOr4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Prepaid insurance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">456</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OtherAssetsCurrent_iI_pn3n3_maPEAOAzoWf_zfK5JWx7chI2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,962</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,711</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzoWf_z9GOGRNYW22c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Prepaid expenses and other current assets </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">86,977</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">87,466</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_891_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zoMmRGsR4yJf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.65pt"> SCHEDULE OF PREPAID EXPENSES AND OTHER ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20241231_z5nzpj1bRml2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231_zp66rcoVNUa9" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--PrepaidTaxes_iI_pn3n3_maPEAOAzoWf_z0vnJIp26ged" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; text-indent: 0pt; padding-left: 0pt">VAT-input deductible</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">79,151</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">71,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PrepaidMarketingExpense_iI_pn3n3_maPEAOAzoWf_zJGUfYUo9hi1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Prepaid marketing expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,767</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--PrepaidConsultingAndProfessionalServiceFees_iI_pn3n3_maPEAOAzoWf_z5I8P4p3kM8k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Prepaid consulting and professional service fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,741</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,184</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidRent_iI_pn3n3_maPEAOAzoWf_zN1LzpPeReik" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Prepaid rental expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,048</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PrepaidInsurance_iI_pn3n3_maPEAOAzoWf_z9nAk1fHhOr4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Prepaid insurance cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">456</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OtherAssetsCurrent_iI_pn3n3_maPEAOAzoWf_zfK5JWx7chI2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,962</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,711</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzoWf_z9GOGRNYW22c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Prepaid expenses and other current assets </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">86,977</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">87,466</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

79151000

71300000

2716000 9767000 2741000 3184000

109000

1048000

298000

456000

1962000

1711000

86977000

87466000

6. PROPERTY, EQUIPMENT AND SOFTWARE, NET Property, equipment and software, net, consist of the following: SCHEDULE OF PROPERTY, EQUIPMENT, SOFTWARE, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20241231_zH62CqyfnpMc" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zZwEjmndxQmb" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z03Wp1QHzk89" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Leasehold improvement</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">37,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">46,955</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zbQBFn33SQJl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Machine</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,831</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zXWsofv8Nbf6" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,868</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_z74Ffi3ZPw4h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,213</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,460</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zfscfFuJyAvb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,379</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,083</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zQtSQXwFKqDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vehicles and motors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,656</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,332</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_z03p8uv6cga3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Construction in progress</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">98</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,097</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzmXV_zRjroDWFroxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total property, equipment and software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,349</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: accumulated depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zaxCsS5XatJ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,837</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,039</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zE2ZSyUwpDpl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Machine</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,211</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,753</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z8VDaUDOnImh" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(873</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(975</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_zjok0P8Dsape" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,891</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,413</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zv1bvWInWvX3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,052</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,164</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zSL1NU3AZUVa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Vehicles and motors</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,773</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,558</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzmXV_zALoWqpsrz42" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total accumulated depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,902</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzmXV_zOn0vu6kqe5h" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Net book value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">71,420</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">85,447</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The total amounts charged to the Consolidated Statements of Comprehensive Loss for depreciation and amortization expense are approximately RMB12.3 million, RMB8.2 million and RMB9.6 million for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

Property, equipment and software, net, consist of the following: SCHEDULE OF PROPERTY, EQUIPMENT, SOFTWARE, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20241231_zH62CqyfnpMc" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zZwEjmndxQmb" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z03Wp1QHzk89" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Leasehold improvement</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">37,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">46,955</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zbQBFn33SQJl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Machine</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,805</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,831</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zXWsofv8Nbf6" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,868</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_z74Ffi3ZPw4h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,213</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,460</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zfscfFuJyAvb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,379</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,083</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zQtSQXwFKqDk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vehicles and motors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,656</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,332</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_z03p8uv6cga3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Construction in progress</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">98</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,097</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzmXV_zRjroDWFroxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total property, equipment and software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,349</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: accumulated depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zaxCsS5XatJ1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,837</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,039</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zE2ZSyUwpDpl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Machine</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,211</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,753</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z8VDaUDOnImh" style="vertical-align: bottom; background-color: White"> <td>Furniture</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(873</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(975</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_zjok0P8Dsape" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Software</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,891</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,413</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zv1bvWInWvX3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,052</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,164</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zSL1NU3AZUVa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Vehicles and motors</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,773</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,558</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzmXV_zALoWqpsrz42" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total accumulated depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(38,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,902</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzmXV_zOn0vu6kqe5h" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Net book value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">71,420</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">85,447</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

37038000

46955000

16805000

26831000

14868000

14591000

18213000

9460000

16379000

9083000

6656000

4332000

98000

3097000

110057000

114349000

3837000

10039000

1211000

2753000

873000

975000

16891000

9413000

13052000

4164000

2773000

1558000

38637000

28902000

71420000

85447000

12300000

8200000

9600000

7. BORROWINGS The following table presents short-term and long-term borrowings as of December 31, 2024 and 2025. SCHEDULE OF SHORT-TERM AND LONG-TERM BORROWINGS FROM COMMERCIAL BANKS OR OTHER INSTITUTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Funding Partners</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Terms</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Rate</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zKPLYXeCpUri" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zt9GkFT7k5R8" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrHhDJ7Caur1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left; text-indent: 0pt; padding-left: 0pt">Short-term borrowing from related party (Note 12)</td><td style="width: 2%"> </td> <td style="width: 18%; text-indent: 0pt; padding-left: 0pt">within <span id="xdx_903_eus-gaap--DebtInstrumentTerm_dtMp_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zsG5XXIu8Dy1" title="Debt instrument term">12 months</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: left; padding-left: 0pt"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUpo9xrq5DIg" title="Fixed annual interest rate">6%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zGs6q1pUvfJ3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Short-term borrowing from third parties</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">within <span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtMp_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zwt8FOKZMALe" title="Debt instrument term">12 months</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember__srt--RangeAxis__srt--MinimumMember_zS5vTU7AAcA8" title="Fixed annual interest rate">3%-<span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember__srt--RangeAxis__srt--MaximumMember_z1RPkJERK0C" title="Fixed annual interest rate">10%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">174,616</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">397,161</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember_ziEcXrSW7n7g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Short-term, borrowing amount</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175,616</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">397,161</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zRizBoALqZjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Long-term borrowings from third party</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtY_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_z3LrYBblnAQ4" title="Debt instrument, term">2 years, due in November 2027</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zs0fAar9vj51" title="Fixed annual interest rate">8%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LongTermDebt_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zlIeod4XJeA1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Long-term borrowings from related party</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_902_eus-gaap--DebtInstrumentTerm_dtY_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z3NLZcNEnEQ7" title="Debt instrument, term">18 months, due in March 2026</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zI5eQtinw1Ga" title="Fixed annual interest rate">5.35% per annum within 12 months after the drawdown date, and <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zAcF1NK8LZuh" title="Repaid percentage">8% per annum after 12 months until the loan is repaid in full</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">53,913</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> Short-term borrowings from third parties outstanding as of December 31, 2025 comprised of: a) the loans of RMB313.1 million drawn down under the Group’s inventory-pledged financing facilities, b) other short-term borrowings from third parties, which contain covenants including, among others, certain financial measures regarding operating cashflows and asset liability ratio. As of December 31, 2025, the Company is in compliance with all these covenants. The Group entered into inventory-pledged financing facilities with several reputable banks and financial institutions to finance its procurement of vehicle inventory, which was pledged by the Group’s vehicle inventory. Under the inventory-pledged financing facilities, repayment of amounts drawn for the purchase of a vehicle should generally be made within several days after selling or otherwise disposing of the vehicle or in 90 days if the vehicle is not sold or disposed. The inventory-pledged financing facilities require monthly interest payments with an annual interest rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20250101__20251231__srt--RangeAxis__srt--MinimumMember__us-gaap--DebtInstrumentAxis__custom--InventoryPledgedFinancingFacilityMember_zFKm7eYvXXD1" title="Monthly interest rate">3% - <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20250101__20251231__srt--RangeAxis__srt--MaximumMember__us-gaap--DebtInstrumentAxis__custom--InventoryPledgedFinancingFacilityMember_zO2SwSo0IO4f" title="Monthly interest rate">8%. As of December 31, 2025, the Company had borrowings of RMB313.1 million outstanding under the inventory-pledged financing facilities, and the unused facilities as of December 31, 2025 amounted to RMB<span id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_pn5n6_c20251231__us-gaap--TypeOfArrangementAxis__custom--InventoryPledgedFinancingUnusedFacilityMember_zb82k6e9XIvb" title="Borrowings outstanding">323.9 million. The total carrying value of the inventories pledged for these borrowings is RMB420.3 million. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 7. BORROWINGS (CONTINUED) Long-term borrowing from related party outstanding as of December 31, 2024 amounted to RMB53.9 million. On September 12, 2024, the Company’s Anhui subsidiary (“Uxin Anhui”) entered into a loan agreement with Pintu (Beijing) information Technology Co., Ltd. (“Pintu Beijing”), pursuant to which Pintu Beijing agreed to extend loan to Uxin Anhui in a principal amount of the RMB equivalent of US$<span id="xdx_90D_eus-gaap--LongTermDebt_iI_pn5n6_c20240912__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PintuBeijingMember_zVIP9x3Wowk3" title="Long-term borrowing">7.5 million for a term of 18 months from the drawdown date unless other repayment schedule is negotiated and mutually agreed by Uxin Anhui and Pintu Beijing. The interest rate is <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20240912__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PintuBeijingMember_zntJxH2OHam4" title="Fixed annual interest rate">5.35% per annum within 12 months after the drawdown date, and <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20240912__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PintuBeijingMember_zYWuwxT2zKRi" title="Repaid percentage">8% per annum after 12 months until the loan is repaid in full. The loan is guaranteed by Uxin’s Shaanxi subsidiary pursuant to a guarantee agreement entered on the same date. On September 13, 2024, Uxin Anhui made the drawdown of this loan, and the total RMB amount received was classified as “Long-term borrowings from related party” in non-current liabilities. Subsequently in November 2024, the Company entered into a Share Subscription Agreement with Lightwind Global Limited (“Lightwind”, a wholly-owned subsidiary of Pintu Beijing). Pursuant to this agreement and subject to the fulfilment of specified conditions, Uxin agreed to allot and issue, while Lightwind agreed to subscribe for, a total of <span id="xdx_902_eus-gaap--CommonStockSharesSubscribedButUnissued_iI_pid_c20240913__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zR4qPsYHbeqg" title="Common stock subscriptions, shares">1,543,845,204 Class A Ordinary Shares of the Company, with an aggregate subscription amount of US$<span id="xdx_902_eus-gaap--CommonStockSharesSubscriptions_iI_pn5n6_c20240913__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqQuYE9J9fv7" title="Common stock subscriptions, value">7.5 million. When the specified conditions were fulfilled and a repayment schedule of the long-term loan of US$<span id="xdx_90D_eus-gaap--RepaymentsOfLongTermDebt_pn5n6_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember_z0fniI1U9ofc" title="Repayment of long-term debt">7.5 million was mutually agreed, Lightwind shall invest equivalent amount in the Company after Uxin Anhui repays the loan under the repayment schedule to Pintu Beijing. In substance, the Company issued a forward contract to Lightwind, as Lightwind is obligated to purchase the shares, and the Company is required to issue them upon the satisfaction of the closing conditions at the pre-agreed price and amount which shall be a deemed dividend to the forward contract holder recorded in the additional paid-in capital. In addition, given that this forward contract is considered indexed to the Company’s own stock and meet the requirement for equity classification, it was classified under the Company’s equity and was initially measured at fair value amounting to RMB<span id="xdx_90C_eus-gaap--EquityFairValueAdjustment_pn5n6_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember_zr2UuvBzR3W2" title="Fair value amounting">44.7 million with no subsequent remeasurement in November 2024. In March 2025, a revised repayment schedule was mutually agreed by Uxin Anhui and Pintu Beijing. Subsequently, in March and April 2025, Uxin Anhui repaid the total amount of principal and interests, amounting to RMB<span id="xdx_909_eus-gaap--DebtInstrumentPeriodicPayment_pn5n6_c20250401__20250430__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PintuBeijingMember_zIMk861qeJu7" title="Principal and interests amount">55.0 million, to Pintu Beijing. Concurrently, Lightwind made an equivalent investment in the Company as the specified conditions for the investment had been fulfilled. On November 21, 2024, Uxin Limited entered into a loan agreement with NC Management Company Limited, pursuant to which NC Management Company agreed to extend loan to Uxin Limited in a principal amount of US$<span id="xdx_903_eus-gaap--DebtInstrumentIssuedPrincipal_pn5n6_uUSD_c20241121__20241121__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinLimitedMember_zZCq1wbYTgq6" title="Debt principal amount">2.0 million (approximately equivalent to RMB<span id="xdx_90A_eus-gaap--DebtInstrumentIssuedPrincipal_pn5n6_c20241121__20241121__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinLimitedMember_z5d2LOInYes2" title="Debt principal amount">14.1 million) for a term of 3 months from the drawdown date. Interest on the loan shall accrue from the date of disbursement of the loan until the date of full repayment of the loan and shall be paid at the interest rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20241121__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinLimitedMember_znxuyYelsVyj" title="Repaid percentage">8% per annum. On February 22, 2025, Uxin Limited entered into a supplemental agreement with NC Management Company Limited. Pursuant to the agreement, the term of the Loan shall be twenty-four (24) months from the date of disbursement of the Loan, unless otherwise agreed by the Borrower and Lender. On December 8, 2025, The company entered into a loan agreement with NC Management Company Limited. Pursuant to the agreement, the company obtained another loan of US$0.5 million (approximately equivalent to RMB3.5 million) with an annum interest rate of 8% and a term of 6 months. As of December 31, 2025, the aforementioned two loans with an aggregate amount of US$2.5 million (approximately equivalent to RMB17.6 million) were classified e as “Short-term borrowings from third parties” in current liabilities. Outstanding long-term borrowing from third party amounted to nil and RMB10.0 million as of December 31, 2024 and 2025, respectively. On November 21, 2025, Uxin Limited entered into a loan agreement with Tingrong Investment Management (Shanghai) Co., Ltd.. Pursuant to the agreement, Uxin Limited obtained a loan of RMB<span id="xdx_909_eus-gaap--LongTermDebt_iI_pn5n6_uRMB_c20251121__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember_zgzQKrqyYwu1" title="Long-term borrowing">10.0 million with an annum interest rate of 8% and a term of 2 years. The weighted average interest rate for all outstanding borrowings was approximately 6.0% and 6.6% as of December 31, 2024 and 2025, respectively, and the weighted average interest rate for short-term outstanding borrowings was approximately 6.2% and 6.5% as of December 31, 2024 and 2025, respectively. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

The following table presents short-term and long-term borrowings as of December 31, 2024 and 2025. SCHEDULE OF SHORT-TERM AND LONG-TERM BORROWINGS FROM COMMERCIAL BANKS OR OTHER INSTITUTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Funding Partners</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Terms</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Rate</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241231_zKPLYXeCpUri" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zt9GkFT7k5R8" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zrHhDJ7Caur1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left; text-indent: 0pt; padding-left: 0pt">Short-term borrowing from related party (Note 12)</td><td style="width: 2%"> </td> <td style="width: 18%; text-indent: 0pt; padding-left: 0pt">within <span id="xdx_903_eus-gaap--DebtInstrumentTerm_dtMp_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zsG5XXIu8Dy1" title="Debt instrument term">12 months</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: left; padding-left: 0pt"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zUpo9xrq5DIg" title="Fixed annual interest rate">6%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zGs6q1pUvfJ3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Short-term borrowing from third parties</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">within <span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtMp_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zwt8FOKZMALe" title="Debt instrument term">12 months</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember__srt--RangeAxis__srt--MinimumMember_zS5vTU7AAcA8" title="Fixed annual interest rate">3%-<span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember__srt--RangeAxis__srt--MaximumMember_z1RPkJERK0C" title="Fixed annual interest rate">10%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">174,616</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">397,161</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--ShortTermDebtMember_ziEcXrSW7n7g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Short-term, borrowing amount</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175,616</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">397,161</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zRizBoALqZjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Long-term borrowings from third party</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtY_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_z3LrYBblnAQ4" title="Debt instrument, term">2 years, due in November 2027</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zs0fAar9vj51" title="Fixed annual interest rate">8%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LongTermDebt_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zlIeod4XJeA1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Long-term borrowings from related party</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_902_eus-gaap--DebtInstrumentTerm_dtY_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z3NLZcNEnEQ7" title="Debt instrument, term">18 months, due in March 2026</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zI5eQtinw1Ga" title="Fixed annual interest rate">5.35% per annum within 12 months after the drawdown date, and <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--LongTermDebtMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zAcF1NK8LZuh" title="Repaid percentage">8% per annum after 12 months until the loan is repaid in full</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">53,913</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

P12M

0.06

1000000

P12M

0.03

0.10

174616000

397161000

175616000

397161000

P2Y

0.08

10000000

P18Y

0.0535

0.08

53913000

313100000

0.03

0.08

313100000

323900000

420300000

53900000

7500000

0.0535

0.08

1543845204

7500000

44700000

55000000.0

2000000.0

14100000

0.08

500000

3500000

2500000

17600000

10000000.0

0.060

0.066

0.062

0.065

<p id="xdx_80C_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_z7XPwQaAkkpe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">8. OTHER PAYABLES AND OTHER CURRENT LIABILITIES SCHEDULE OF OTHER PAYABLES AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231_zr7zNuRJXce3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zesSB6sFARWj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40E_eus-gaap--TaxesPayableCurrent_iI_pn3n3_maALCzQZX_zMj8ZzYPER97" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: justify">Tax payables</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">72,991</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">75,308</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_maALCzQZX_zlkZCYdqtfeg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Deferred revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">26,728</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">52,393</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccruedServiceFeeForItAndOtherProfessionalSupport_iI_pn3n3_maALCzQZX_zZY9qLh1xyKd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accrued service fee for professional and office support</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">54,224</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">48,323</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedServiceFeeForTransactionSupport_iI_pn3n3_maALCzQZX_zvSrcfhoUJrd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accrued service fee for transaction support</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">26,940</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">26,626</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DepositLiabilityCurrent_iI_pn3n3_maALCzQZX_ztrWPImGVThc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Deposits</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">30,155</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">24,510</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccruedEmployeeBenefitsCurrent_iI_pn3n3_maALCzQZX_zym92ee8mj16" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accrued salaries and benefits</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">16,991</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">24,304</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent_iI_pn3n3_maALCzQZX_zCqKCqZDtiD7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Consideration payable to WeBank, current (Note 9)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">29,302</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">21,314</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedAdvertisingCurrent_iI_pn3n3_maALCzQZX_zCdvCiluevK2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accrued advertising expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">23,708</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,913</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzQZX_ze7vJtqRtp97" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Interest payable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,204</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,028</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzQZX_zG84J35wrwAe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Others</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">24,148</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,619</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzQZX_zDbAWmgPP52c" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Other payables and accruals</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">306,391</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">291,338</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

SCHEDULE OF OTHER PAYABLES AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20241231_zr7zNuRJXce3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zesSB6sFARWj" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40E_eus-gaap--TaxesPayableCurrent_iI_pn3n3_maALCzQZX_zMj8ZzYPER97" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: justify">Tax payables</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">72,991</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">75,308</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_maALCzQZX_zlkZCYdqtfeg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Deferred revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">26,728</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">52,393</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccruedServiceFeeForItAndOtherProfessionalSupport_iI_pn3n3_maALCzQZX_zZY9qLh1xyKd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accrued service fee for professional and office support</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">54,224</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">48,323</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedServiceFeeForTransactionSupport_iI_pn3n3_maALCzQZX_zvSrcfhoUJrd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accrued service fee for transaction support</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">26,940</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">26,626</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DepositLiabilityCurrent_iI_pn3n3_maALCzQZX_ztrWPImGVThc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Deposits</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">30,155</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">24,510</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccruedEmployeeBenefitsCurrent_iI_pn3n3_maALCzQZX_zym92ee8mj16" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accrued salaries and benefits</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">16,991</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">24,304</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent_iI_pn3n3_maALCzQZX_zCqKCqZDtiD7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Consideration payable to WeBank, current (Note 9)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">29,302</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">21,314</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedAdvertisingCurrent_iI_pn3n3_maALCzQZX_zCdvCiluevK2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accrued advertising expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">23,708</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,913</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzQZX_ze7vJtqRtp97" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Interest payable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,204</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,028</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzQZX_zG84J35wrwAe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Others</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">24,148</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,619</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzQZX_zDbAWmgPP52c" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Other payables and accruals</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">306,391</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">291,338</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

72991000

75308000

26728000

52393000

54224000 48323000 26940000 26626000

30155000

24510000

16991000

24304000

29302000

21314000

23708000

10913000

1204000

3028000

24148000

4619000

306391000

291338000

<p id="xdx_801_ecustom--ConsiderationPayableTextBlock_zxMDv4AxFO18" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">9. CONSIDERATION PAYABLE TO WEBANK SCHEDULE OF CONSIDERATION PAYABLE TO WEBANK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20241231_z7RuoxDXZ9k6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zMqXlDre8gnk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_ecustom--LiabilitiesOfBusinessTransferredUnderContractualArrangement_iI_pn3n3_maLOBTUzyjN_zIwnHeDSmYme" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Consideration payable to WeBank in total (i)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">56,539</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">21,314</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--CurrentPortionRecordedInOtherPayablesAndOtherCurrentLiabilities_iI_pn3n3_maLOBTUzyjN_zW5nzVrUK5id" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less: current portion (recorded in “Other payables and other current liabilities” (Note 8)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(29,302</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(21,314</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesOfBusinessTransferredUnderContractualArrangementNoncurrent_iTI_pn3n3_mtLOBTUzyjN_zwYqLBjdlOn6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Consideration payable to Webank</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,237</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">In 2020, the Group entered into agreements with WeBank in order to settle the Group’s remaining guarantee liabilities with regards to its historically-facilitated loans. Pursuant to the agreements, the Company will pay an aggregate amount of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTlNJREVSQVRJT04gUEFZQUJMRSBUTyBXRUJBTksgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--GuaranteeObligationsCurrentCarryingValue_iI_pn5n6_c20200331__us-gaap--TypeOfArrangementAxis__custom--JulyAgreementTwoThousandTwentyMember_zscbzPSClST4" title="Aggregate amount of guarantee settlement">372.0 million to WeBank from 2020 to 2025 as a guarantee settlement with a maximum annual settlement amount of no more than RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTlNJREVSQVRJT04gUEFZQUJMRSBUTyBXRUJBTksgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--GuaranteeObligationsMaximumExposure_iI_pn5n6_c20200331__us-gaap--TypeOfArrangementAxis__custom--JulyAgreementTwoThousandTwentyMember_zUDqPAeVH5I6" title="Maximum annual settlement amount">84.0 million. Upon the signing of the 2020 July Agreement, the Group was no longer subject to guarantee obligations in relation to its historically facilitated loans for WeBank under the condition that the Group made the instalments based on the agreed-upon schedule in agreements.</td> </tr></table> Subsequently on June 21, 2021, the Company entered into a supplemental agreement with WeBank and under this supplemental agreement a total of RMB<span id="xdx_902_eus-gaap--LiabilitiesOfBusinessTransferredUnderContractualArrangementNoncurrent_iI_pn5n6_uRMB_c20210621__us-gaap--TypeOfArrangementAxis__custom--SupplementalAgreementMember_zc9BjeyUIaFj" title="Consideration payable to Webank">48.0 million instalment payments was waived immediately upon the effectiveness of this supplemental agreement. The effectiveness of this supplemental agreement was conditioned on the closing of the first tranche of financing with NIO Capital and Joy Capital. The first tranche of financing closed on July 12, 2021 and therefore this supplemental agreement became effective on July 12, 2021, and related waived payment, total amount of RMB<span id="xdx_90E_eus-gaap--LiabilitiesOfBusinessTransferredUnderContractualArrangementNoncurrent_iI_pn5n6_uRMB_c20210712__us-gaap--TypeOfArrangementAxis__custom--SupplementalAgreementMember_zAkL6tESTyHb" title="Consideration payable to Webank">73.7 million, was recorded in “other operating income” for the fiscal year ended March 31, 2022. On June 28, 2023, the Company entered into another supplemental agreement with WeBank to extend the repayment of RMB30.0 million due on June 30, 2023. Under the new terms, the repayment was divided into monthly instalments of to RMB5.0 million each month from June 2023 to November 2023, and the Company had made each repayment on schedule. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 9. CONSIDERATION PAYABLE TO WEBANK (CONTINUED) On December 31, 2023, the Company entered into another supplemental agreement with WeBank to extend the repayment of RMB30.0 million due on December 31, 2023. Under the new terms, the repayment was divided into monthly instalments of RMB2.5 million for each month from December 2023 to November 2024, and the Company has made each repayment on schedule. On June 21, 2024, the Company entered into another supplemental agreement with WeBank which revised and extended the repayment schedule of the last two instalments of RMB30.0 million each due on June 30, 2024 and December 31, 2024 respectively to the monthly repayments of RMB2.5 million for each month from December 2024 to November 2026. As a result of this modification, the Group classified the payables to Webank amounting to RMB27.2 million repayable after twelve months from December 31, 2024 as “Consideration payable to WeBank” in non-current liabilities. On June 30, 2025, the Company and WeBank mutually agreed that RMB5.9 million out of the outstanding payables under the 2020 Settlement Agreement to be waived, the gain from which was recorded in “Other operating income, net” (Note 10) for the year ended December 31, 2025. SCHEDULE OF CONSIDERATION PAYABLE TO WEBANK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20241231_z7RuoxDXZ9k6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zMqXlDre8gnk" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, 2025</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40F_ecustom--LiabilitiesOfBusinessTransferredUnderContractualArrangement_iI_pn3n3_maLOBTUzyjN_zIwnHeDSmYme" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Consideration payable to WeBank in total (i)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">56,539</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">21,314</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--CurrentPortionRecordedInOtherPayablesAndOtherCurrentLiabilities_iI_pn3n3_maLOBTUzyjN_zW5nzVrUK5id" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less: current portion (recorded in “Other payables and other current liabilities” (Note 8)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(29,302</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(21,314</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--LiabilitiesOfBusinessTransferredUnderContractualArrangementNoncurrent_iTI_pn3n3_mtLOBTUzyjN_zwYqLBjdlOn6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Consideration payable to Webank</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">27,237</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">In 2020, the Group entered into agreements with WeBank in order to settle the Group’s remaining guarantee liabilities with regards to its historically-facilitated loans. Pursuant to the agreements, the Company will pay an aggregate amount of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTlNJREVSQVRJT04gUEFZQUJMRSBUTyBXRUJBTksgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--GuaranteeObligationsCurrentCarryingValue_iI_pn5n6_c20200331__us-gaap--TypeOfArrangementAxis__custom--JulyAgreementTwoThousandTwentyMember_zscbzPSClST4" title="Aggregate amount of guarantee settlement">372.0 million to WeBank from 2020 to 2025 as a guarantee settlement with a maximum annual settlement amount of no more than RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIENPTlNJREVSQVRJT04gUEFZQUJMRSBUTyBXRUJBTksgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--GuaranteeObligationsMaximumExposure_iI_pn5n6_c20200331__us-gaap--TypeOfArrangementAxis__custom--JulyAgreementTwoThousandTwentyMember_zUDqPAeVH5I6" title="Maximum annual settlement amount">84.0 million. Upon the signing of the 2020 July Agreement, the Group was no longer subject to guarantee obligations in relation to its historically facilitated loans for WeBank under the condition that the Group made the instalments based on the agreed-upon schedule in agreements.</td> </tr></table> 56539000 21314000 -29302000 -21314000

27237000

372000000.0

84000000.0

48000000.0

73700000

30000000.0

5000000.0

June 2023 to November 2023

30000000.0

2500000

December 2023 to November 2024

30000000.0

2500000

December 2024 to November 2026

27200000

5900000

<p id="xdx_80A_eus-gaap--OtherOperatingIncomeAndExpenseTextBlock_zzsEq3z6HVP4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">10. OTHER OPERATING INCOME, NET <p id="xdx_89B_eus-gaap--ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_zwsC1kn83agi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt">SCHEDULE OF OTHER OPERATING INCOME, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49D_20230401__20240331_zlqGWdjwD1u5" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_495_20240401__20241231_zSUFOvwsdLC9" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20250101__20251231_zJtyRLKB6SX1" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the fiscal year ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the nine months ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the year ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_403_ecustom--WaiverOfOperatingPayablesIncome_pn3n3_uRMB_maOOIzvkk_zjVD0r6M9Pa4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left">Gains from derecognition and waiver of operating payables (i)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">10,604</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">9,703</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">45,383</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--GovernmentGrantIncome_pn3n3_uRMB_maOOIzvkk_zj8dWDte7tk2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Government grant (ii)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,135</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">21,511</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">15,223</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OtherOperatingIncomeOthers_pn3n3_uRMB_maOOIzvkk_zCBTbjlEUnL6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Others</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,262</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">463</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">479</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--OperatingIncomeOther_iT_pn3n3_uRMB_mtOOIzvkk_zy9xZbPFuY2g" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">18,001</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">31,677</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">61,085</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">The payables derecognized primarily consist of the waiver of the payable to Webank and certain long-aged payables related to the Company’s certain businesses carried out in PRC and were ceased in early 2020, resulting in gains of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9USEVSIE9QRVJBVElORyBJTkNPTUUsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--GainFromWavierOfSettlementOfLongAgedPayables_pn5n6_uRMB_c20230401__20240331_zxPT0Jbq0lRa" title="Gain from wavier of settlement of long-aged payables">10.6 million, RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9USEVSIE9QRVJBVElORyBJTkNPTUUsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_ecustom--GainFromWavierOfSettlementOfLongAgedPayables_pn5n6_uRMB_c20240401__20241231_zEe2irc2m59l" title="Gain from wavier of settlement of long-aged payables">9.7 million and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9USEVSIE9QRVJBVElORyBJTkNPTUUsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--GainFromWavierOfSettlementOfLongAgedPayables_pn5n6_uRMB_c20250101__20251231_zUg9fgNYNngh" title="Gain from wavier of settlement of long-aged payables">45.4 million recorded for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively. As of December 31, 2025, the remaining payables related to the Company’s divested business was amounted to RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9USEVSIE9QRVJBVElORyBJTkNPTUUsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_ecustom--RemainingWavierOfSettlementOfLongagedPayables_iI_pn5n6_uRMB_c20251231_zfllBynqaWBe" title="Remaining wavier of settlement of long-aged payables">63.6 million. The derecognition of the remaining payables is subject to certain conditions to be met including those under the relevant PRC laws and regulations.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(ii)</td><td style="width: 5pt"></td><td style="text-align: justify">During the year ended December 31, 2025, the Company received several cash-based government subsidies which are primarily intended to support the business operations in the Hefei and Xi’an superstore. All conditions associated with these subsidies have been satisfied, and the cash received does not need to be refunded under any circumstances. The Company recorded these subsidies under “Other operating income, net” in the Consolidated Statements of Comprehensive Loss.</td> </tr></table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

<p id="xdx_89B_eus-gaap--ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_zwsC1kn83agi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt">SCHEDULE OF OTHER OPERATING INCOME, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49D_20230401__20240331_zlqGWdjwD1u5" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_495_20240401__20241231_zSUFOvwsdLC9" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_49A_20250101__20251231_zJtyRLKB6SX1" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the fiscal year ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the nine months ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the year ended December 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_403_ecustom--WaiverOfOperatingPayablesIncome_pn3n3_uRMB_maOOIzvkk_zjVD0r6M9Pa4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left">Gains from derecognition and waiver of operating payables (i)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">10,604</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">9,703</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">45,383</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--GovernmentGrantIncome_pn3n3_uRMB_maOOIzvkk_zj8dWDte7tk2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Government grant (ii)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,135</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">21,511</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">15,223</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OtherOperatingIncomeOthers_pn3n3_uRMB_maOOIzvkk_zCBTbjlEUnL6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Others</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,262</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">463</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">479</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--OperatingIncomeOther_iT_pn3n3_uRMB_mtOOIzvkk_zy9xZbPFuY2g" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">18,001</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">31,677</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">61,085</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">The payables derecognized primarily consist of the waiver of the payable to Webank and certain long-aged payables related to the Company’s certain businesses carried out in PRC and were ceased in early 2020, resulting in gains of RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9USEVSIE9QRVJBVElORyBJTkNPTUUsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--GainFromWavierOfSettlementOfLongAgedPayables_pn5n6_uRMB_c20230401__20240331_zxPT0Jbq0lRa" title="Gain from wavier of settlement of long-aged payables">10.6 million, RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9USEVSIE9QRVJBVElORyBJTkNPTUUsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_ecustom--GainFromWavierOfSettlementOfLongAgedPayables_pn5n6_uRMB_c20240401__20241231_zEe2irc2m59l" title="Gain from wavier of settlement of long-aged payables">9.7 million and RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9USEVSIE9QRVJBVElORyBJTkNPTUUsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--GainFromWavierOfSettlementOfLongAgedPayables_pn5n6_uRMB_c20250101__20251231_zUg9fgNYNngh" title="Gain from wavier of settlement of long-aged payables">45.4 million recorded for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively. As of December 31, 2025, the remaining payables related to the Company’s divested business was amounted to RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9USEVSIE9QRVJBVElORyBJTkNPTUUsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_ecustom--RemainingWavierOfSettlementOfLongagedPayables_iI_pn5n6_uRMB_c20251231_zfllBynqaWBe" title="Remaining wavier of settlement of long-aged payables">63.6 million. The derecognition of the remaining payables is subject to certain conditions to be met including those under the relevant PRC laws and regulations.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(ii)</td><td style="width: 5pt"></td><td style="text-align: justify">During the year ended December 31, 2025, the Company received several cash-based government subsidies which are primarily intended to support the business operations in the Hefei and Xi’an superstore. All conditions associated with these subsidies have been satisfied, and the cash received does not need to be refunded under any circumstances. The Company recorded these subsidies under “Other operating income, net” in the Consolidated Statements of Comprehensive Loss.</td> </tr></table>

10604000 9703000 45383000 6135000 21511000 15223000 1262000 463000 479000 18001000 31677000 61085000 10600000 9700000 45400000 63600000 <p id="xdx_80C_ecustom--LesseeOperatingAndFinanceLeasesTextBlock_zWOWaxX2Etn" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">11. LEASES The Group recognized lease assets and lease liabilities related to substantially all of the Group’s lease arrangements in the consolidated financial statements. The Group has operating leases primarily for office and operations space. The Group’s operating lease arrangements have remaining terms of one year to ten years. The Group’s finance lease represented the lease of the used car retail superstore (the “Superstore”) in Hefei. A subsidiary of the Company, Uxin Hefei entered into a lease and purchase agreement with HCI to lease the Superstore in Hefei with a 10-year lease term with an annual lease payment of RMB147.1 million from September 2023 to September 2032, and further obtained an option to purchase the Superstore at the cost of RMB716.9 million at the end of lease term. The initial direct cost made and the incentive received on or before the lease commencement date were immaterial. On the lease commencement date, the property, plant and equipment for the Superstore amounted RMB1,563.5 million with the estimated useful lives of 50 years, being the present value of the lease payments and the exercise price of the purchase obligation using the implicit rate of return in the finance lease arrangement. The Group commenced the lease of the Superstore in September 2023. As the lease contains an option to purchase the underlying asset which is reasonably certain to be exercised by the Company, it was classified as a finance lease. In October 2023, Uxin Hefei and HCI mutually agreed that HCI will convert its first-year rental of RMB<span id="xdx_90F_eus-gaap--OtherInvestments_iI_pn5n6_uRMB_c20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zowCMcgSG2O4" title="Investments">147.1 million into an investment for the subscription of <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zs6R5iLa4TXk" title="Equity interests percentage">12.02% equity interests in Uxin Hefei (Note 15). In January 2024 and September 2024, the total lease payments were modified respectively, and the lease liability was remeasured based on the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification. Right-of-us assets and lease liabilities are adjusted down by RMB216.1 million and adjusted up by RMB28.2 million upon the modifications in January 2024 and September 2024, respectively. In April 2025, Uxin Hefei and HCI mutually agreed that HCI will convert its second-year rental of RMB<span id="xdx_908_eus-gaap--OtherInvestments_iI_pn5n6_uRMB_c20250430__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zTodz2kdb4G8" title="Investments">127.7 million into an investment for the subscription of <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20250430__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zTdmER4V4whf" title="Equity interests percentage">8.40% equity interests in Uxin Hefei. According to this agreement signed with HCI, the subsequent settlement of the second-year rental did not constitute any breach or default of the contract as of December 31, 2024. In March 2026, Uxin Hefei and HCI mutually agreed that HCI will convert its third-year rental of RMB<span id="xdx_909_eus-gaap--OtherInvestments_iI_pn5n6_uRMB_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ztCjt7y0I6k" title="Investments">127.7 million into an investment for the subscription of <span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zU3j6c3TUTe2" title="Equity interests percentage">6.92% equity interests in Uxin Hefei. According to this agreement signed with HCI, the subsequent settlement of the third-year rental did not constitute any breach or default of the contract as of December 31, 2025. <p id="xdx_895_ecustom--SupplementalConsolidatedBalanceSheetInformationRelatedToLeasesTableTextBlock_zJNWiOz48uf5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Supplemental Consolidated Balance Sheets information related to leases were as follows: SCHEDULE OF SUPPLEMENTAL UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241231_zoIkN1TEQL8e" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_z8lA5u7nA4og" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_uRMB_zGUwsRyO3ISb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify; padding-bottom: 2.5pt">Right-of-use assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">194,388</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">270,325</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_uRMB_maOLLzvUQ_zNipMptp2trb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Operating lease liabilities - current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,563</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,842</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_uRMB_maOLLzvUQ_zPkhSjyyEBxe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Operating lease liabilities - non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">180,920</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">245,373</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_uRMB_mtOLLzvUQ_zfjAhMKiG263" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">195,483</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">281,215</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseRightOfUseAsset_iI_pn3n3_uRMB_zRkiwDp1yDpk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Right-of-use assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,346,728</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,319,087</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pn3n3_uRMB_maFLLz3eF_zV0FMcgMgwC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance lease liabilities - current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">183,852</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">187,541</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pn3n3_uRMB_maFLLz3eF_zlW4OGjEJGy2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Finance lease liabilities - non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,141,118</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,081,322</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiability_iTI_pn3n3_uRMB_mtFLLz3eF_zSXcByu0y5l5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total finance lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,324,970</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,268,863</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 11. LEASES (CONTINUED) <p id="xdx_899_ecustom--ScheduleOfComprehensiveIncomeLossRelatedToLeasesTableTextBlock_zJUth4BE2R2b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt">The components of lease expense are as follows within the Consolidated Statements of Comprehensive Loss: SCHEDULE OF SUPPLEMENTAL OF COMPREHENSIVE LOSS RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20230401__20240331_zzD8az3dvno5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240401__20241231_z9v6G1mk0H3h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20251231_zqv9fvl9nNna" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Operating lease expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseCost_pn3n3_uRMB_maOASTLzpZ5_zGXqdOVLN60f" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Operating lease expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">20,115</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">19,058</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">33,827</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermLeaseCost_pn3n3_uRMB_maOASTLzpZ5_zSVDQNQYIqz" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Short-term lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,452</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,909</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,666</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OperatingAndShortTermLeaseCost_iT_pn3n3_uRMB_mtOASTLzpZ5_maLCzkMz_zgdFBNJ8v11k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total operating lease expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,567</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,967</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">37,493</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Finance lease expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_pn3n3_uRMB_maFLCzftG_z40fhkuh5Xef" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,290</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,641</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseInterestExpense_pn3n3_uRMB_maFLCzftG_zdPWA8JQiLkk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Interest expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41,184</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60,662</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">76,368</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--FinanceLeaseCost_iT_pn3n3_uRMB_mtFLCzftG_maLCzkMz_zG7ZZZZ9PtK2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total finance lease expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55,474</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">81,691</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">104,009</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LeaseCost_iT_pn3n3_uRMB_mtLCzkMz_zGTkHhIu9QFj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">81,041</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">102,658</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">141,502</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_89C_ecustom--ScheduleOfOtherInformationRelatedToLeasesTableTextBlock_z0z76gi55Iye" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Other information related to leases where the Group is the lessee was as follows: SCHEDULE OF SUPPLEMENTAL OTHER INFORMATION RELATED TO LEASE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_z12L4ekcIdHb" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231_z2UE5Z6MAMu1" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Weighted average remaining lease term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">6.28</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Weighted average incremental borrowing rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_zVSCTxLQGOV8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.30</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.09</td><td style="text-align: left">%</td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_zoYZKpponS4c" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.58</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.58</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_89D_ecustom--SupplementalCashFlowInformationRelatedToLeasesTableTextBlock_z3dQSD8cvx52" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Supplemental cash flow information related to leases were as follows: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230401__20240331_zdkyH7Mu7v1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240401__20241231_z15TJnHCQWn5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20251231_zSrUhwdJrNGl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeasePayments_zjlK9G24CWSd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Operating cash outflows from operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">18,011</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">16,701</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">24,032</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_uRMB_zvYeuJJpJspj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use assets obtained in exchange for operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,301</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,867</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability_pn3n3_uRMB_zmxxaMr8K2A4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets obtained in exchange for finance lease liabilities, after modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,353,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 11. LEASES (CONTINUED) <p id="xdx_899_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zlPR9edl1Nb6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Maturities of lease liabilities are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Finance lease</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating lease</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Matured as of December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_uRMB_ma13_c20251231_zD4Mldd81zvc" style="width: 16%; text-align: right" title="Finance lease matured as of December 31, 2025">127,746</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_uRMB_ma14_c20251231_z9xb8Qwtb7lk" style="width: 16%; text-align: right" title="Operating lease matured as of December 31, 2025">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Fiscal year ended December 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_uRMB_ma13_c20251231_z60DeoWIVKGd" style="text-align: right" title="Finance lease fiscal year ended December 31, 2026">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_uRMB_ma14_c20251231_zmenTuGPxL02" style="text-align: right" title="Operating lease fiscal year ended December 31, 2026">47,004</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Fiscal year ended December 31, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_uRMB_ma13_c20251231_zGn0Qn3AMwhk" style="text-align: right" title="Finance lease fiscal year ended December 31, 2027">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_uRMB_ma14_c20251231_zyZfneBvVTXh" style="text-align: right" title="Operating lease fiscal year ended December 31, 2027">49,958</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Fiscal year ended December 31, 2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_uRMB_ma13_c20251231_zGamMkq9LHj8" style="text-align: right" title="Finance lease fiscal year ended December 31, 2028">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_uRMB_ma14_c20251231_zUFxNaXdE9fh" style="text-align: right" title="Operating lease fiscal year ended December 31, 2028">51,704</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Fiscal year ended December 31, 2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_uRMB_ma13_c20251231_z6Vvlfsy7Ba2" style="text-align: right" title="Finance lease fiscal year ended December 31, 2029">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_uRMB_ma14_c20251231_zIVYEmofsrz" style="text-align: right" title="Operating lease fiscal year ended December 31, 2029">54,180</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Fiscal year ended December 31, 2030</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueAfterYearFive_iI_pn3n3_uRMB_ma13_c20251231_zelLOeBnWYVh" style="text-align: right" title="Finance lease fiscal year ended December 31, 2030">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pn3n3_uRMB_ma14_c20251231_zDv9lAP9OTAk" style="text-align: right" title="Operating lease fiscal year ended December 31, 2030">53,658</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--FinanceLeaseLiabilityPaymentsDueThereAfter_iI_pn3n3_uRMB_ma13_c20251231_zUrNjNzCWFI5" style="border-bottom: Black 1pt solid; text-align: right" title="Fianace lease thereafter">922,384</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueThereAfter_iI_pn3n3_uRMB_ma14_c20251231_zX2lzbmsGSx3" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease thereafter">66,665</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pn3n3_uRMB_mt13_c20251231_zKyuiUhZu8gg" style="text-align: right" title="Total finance lease payments">1,712,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_uRMB_mt14_c20251231_zXOCMOztwOhd" style="text-align: right" title="Total operating lease payments">323,169</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_uRMB_c20251231_zy2LfEYNmQr7" style="border-bottom: Black 1pt solid; text-align: right" title="Finance lease, Less: imputed interest">(443,637</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_uRMB_c20251231_z7zQfsTmjSbi" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease, Less: imputed interest">(41,954</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total lease liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseLiability_iTI_pn3n3_uRMB_c20251231_zj59H7t2h3Da" style="text-align: right" title="Total finance lease liabilities">1,268,863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_uRMB_c20251231_zVe1Kapz8v8d" style="text-align: right" title="Total operating lease liabilities">281,215</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--FinanceLeaseLiabilityCurrent_iNI_pn3n3_di_uRMB_c20251231_zRWG1xSoOkG2" style="border-bottom: Black 1pt solid; text-align: right" title="Finance lease, Less: current portion">(187,541</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pn3n3_di_uRMB_c20251231_zKbBfAYlXWT4" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease, Less: current portion">(35,842</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Non-current portion of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pn3n3_uRMB_c20251231_z4JkMOZj97k" style="border-bottom: Black 2.5pt double; text-align: right" title="Finance lease, Non-current portion of lease liabilities">1,081,322</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_uRMB_c20251231_zhAy9G0UkKth" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Non-current portion of lease liabilities">245,373</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

P1Y

P10Y

147100000

716900000

1563500000

P50Y

147100000

0.1202

216100000 28200000

127700000

0.0840

127700000

0.0692

<p id="xdx_895_ecustom--SupplementalConsolidatedBalanceSheetInformationRelatedToLeasesTableTextBlock_zJNWiOz48uf5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Supplemental Consolidated Balance Sheets information related to leases were as follows: SCHEDULE OF SUPPLEMENTAL UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241231_zoIkN1TEQL8e" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_z8lA5u7nA4og" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_uRMB_zGUwsRyO3ISb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify; padding-bottom: 2.5pt">Right-of-use assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">194,388</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">270,325</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_uRMB_maOLLzvUQ_zNipMptp2trb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Operating lease liabilities - current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,563</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,842</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_uRMB_maOLLzvUQ_zPkhSjyyEBxe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Operating lease liabilities - non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">180,920</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">245,373</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_uRMB_mtOLLzvUQ_zfjAhMKiG263" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">195,483</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">281,215</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseRightOfUseAsset_iI_pn3n3_uRMB_zRkiwDp1yDpk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Right-of-use assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,346,728</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,319,087</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pn3n3_uRMB_maFLLz3eF_zV0FMcgMgwC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance lease liabilities - current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">183,852</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">187,541</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pn3n3_uRMB_maFLLz3eF_zlW4OGjEJGy2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Finance lease liabilities - non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,141,118</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,081,322</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiability_iTI_pn3n3_uRMB_mtFLLz3eF_zSXcByu0y5l5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total finance lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,324,970</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,268,863</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

194388000

270325000

14563000

35842000

180920000

245373000

195483000

281215000

1346728000

1319087000

183852000

187541000

1141118000

1081322000

1324970000

1268863000

<p id="xdx_899_ecustom--ScheduleOfComprehensiveIncomeLossRelatedToLeasesTableTextBlock_zJUth4BE2R2b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt">The components of lease expense are as follows within the Consolidated Statements of Comprehensive Loss: SCHEDULE OF SUPPLEMENTAL OF COMPREHENSIVE LOSS RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20230401__20240331_zzD8az3dvno5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240401__20241231_z9v6G1mk0H3h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20251231_zqv9fvl9nNna" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Operating lease expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseCost_pn3n3_uRMB_maOASTLzpZ5_zGXqdOVLN60f" style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify">Operating lease expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">20,115</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">19,058</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">33,827</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermLeaseCost_pn3n3_uRMB_maOASTLzpZ5_zSVDQNQYIqz" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Short-term lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,452</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,909</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,666</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OperatingAndShortTermLeaseCost_iT_pn3n3_uRMB_mtOASTLzpZ5_maLCzkMz_zgdFBNJ8v11k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total operating lease expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,567</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,967</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">37,493</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Finance lease expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_pn3n3_uRMB_maFLCzftG_z40fhkuh5Xef" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amortization expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,290</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,641</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseInterestExpense_pn3n3_uRMB_maFLCzftG_zdPWA8JQiLkk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Interest expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41,184</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60,662</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">76,368</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--FinanceLeaseCost_iT_pn3n3_uRMB_mtFLCzftG_maLCzkMz_zG7ZZZZ9PtK2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total finance lease expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55,474</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">81,691</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">104,009</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LeaseCost_iT_pn3n3_uRMB_mtLCzkMz_zGTkHhIu9QFj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">81,041</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">102,658</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">141,502</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

20115000

19058000

33827000

5452000

1909000

3666000

25567000 20967000 37493000

14290000

21029000

27641000

41184000

60662000

76368000

55474000 81691000 104009000

81041000

102658000

141502000

<p id="xdx_89C_ecustom--ScheduleOfOtherInformationRelatedToLeasesTableTextBlock_z0z76gi55Iye" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Other information related to leases where the Group is the lessee was as follows: SCHEDULE OF SUPPLEMENTAL OTHER INFORMATION RELATED TO LEASE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20241231_z12L4ekcIdHb" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231_z2UE5Z6MAMu1" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Weighted average remaining lease term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">8.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">6.28</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Weighted average incremental borrowing rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_zVSCTxLQGOV8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.30</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.09</td><td style="text-align: left">%</td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_zoYZKpponS4c" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.58</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.58</td><td style="text-align: left">%</td></tr> </table>

P8Y

P6Y3M10D

P8Y9M

P7Y9M

0.0430

0.0409

0.0658

<p id="xdx_89D_ecustom--SupplementalCashFlowInformationRelatedToLeasesTableTextBlock_z3dQSD8cvx52" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Supplemental cash flow information related to leases were as follows: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230401__20240331_zdkyH7Mu7v1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240401__20241231_z15TJnHCQWn5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20251231_zSrUhwdJrNGl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeasePayments_zjlK9G24CWSd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Operating cash outflows from operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">18,011</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">16,701</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">24,032</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_uRMB_zvYeuJJpJspj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use assets obtained in exchange for operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">97,731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,301</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,867</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability_pn3n3_uRMB_zmxxaMr8K2A4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets obtained in exchange for finance lease liabilities, after modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,353,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

18011000

16701000

24032000

97731000

39301000

100867000

1353827000

28220000

<p id="xdx_899_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zlPR9edl1Nb6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Maturities of lease liabilities are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Finance lease</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating lease</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Matured as of December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_uRMB_ma13_c20251231_zD4Mldd81zvc" style="width: 16%; text-align: right" title="Finance lease matured as of December 31, 2025">127,746</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_uRMB_ma14_c20251231_z9xb8Qwtb7lk" style="width: 16%; text-align: right" title="Operating lease matured as of December 31, 2025">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Fiscal year ended December 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_uRMB_ma13_c20251231_z60DeoWIVKGd" style="text-align: right" title="Finance lease fiscal year ended December 31, 2026">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_uRMB_ma14_c20251231_zmenTuGPxL02" style="text-align: right" title="Operating lease fiscal year ended December 31, 2026">47,004</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Fiscal year ended December 31, 2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_uRMB_ma13_c20251231_zGn0Qn3AMwhk" style="text-align: right" title="Finance lease fiscal year ended December 31, 2027">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_uRMB_ma14_c20251231_zyZfneBvVTXh" style="text-align: right" title="Operating lease fiscal year ended December 31, 2027">49,958</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Fiscal year ended December 31, 2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_uRMB_ma13_c20251231_zGamMkq9LHj8" style="text-align: right" title="Finance lease fiscal year ended December 31, 2028">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_uRMB_ma14_c20251231_zUFxNaXdE9fh" style="text-align: right" title="Operating lease fiscal year ended December 31, 2028">51,704</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Fiscal year ended December 31, 2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_uRMB_ma13_c20251231_z6Vvlfsy7Ba2" style="text-align: right" title="Finance lease fiscal year ended December 31, 2029">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_uRMB_ma14_c20251231_zIVYEmofsrz" style="text-align: right" title="Operating lease fiscal year ended December 31, 2029">54,180</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Fiscal year ended December 31, 2030</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueAfterYearFive_iI_pn3n3_uRMB_ma13_c20251231_zelLOeBnWYVh" style="text-align: right" title="Finance lease fiscal year ended December 31, 2030">132,474</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pn3n3_uRMB_ma14_c20251231_zDv9lAP9OTAk" style="text-align: right" title="Operating lease fiscal year ended December 31, 2030">53,658</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--FinanceLeaseLiabilityPaymentsDueThereAfter_iI_pn3n3_uRMB_ma13_c20251231_zUrNjNzCWFI5" style="border-bottom: Black 1pt solid; text-align: right" title="Fianace lease thereafter">922,384</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueThereAfter_iI_pn3n3_uRMB_ma14_c20251231_zX2lzbmsGSx3" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease thereafter">66,665</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pn3n3_uRMB_mt13_c20251231_zKyuiUhZu8gg" style="text-align: right" title="Total finance lease payments">1,712,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_uRMB_mt14_c20251231_zXOCMOztwOhd" style="text-align: right" title="Total operating lease payments">323,169</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_uRMB_c20251231_zy2LfEYNmQr7" style="border-bottom: Black 1pt solid; text-align: right" title="Finance lease, Less: imputed interest">(443,637</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_uRMB_c20251231_z7zQfsTmjSbi" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease, Less: imputed interest">(41,954</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total lease liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseLiability_iTI_pn3n3_uRMB_c20251231_zj59H7t2h3Da" style="text-align: right" title="Total finance lease liabilities">1,268,863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_uRMB_c20251231_zVe1Kapz8v8d" style="text-align: right" title="Total operating lease liabilities">281,215</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--FinanceLeaseLiabilityCurrent_iNI_pn3n3_di_uRMB_c20251231_zRWG1xSoOkG2" style="border-bottom: Black 1pt solid; text-align: right" title="Finance lease, Less: current portion">(187,541</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pn3n3_di_uRMB_c20251231_zKbBfAYlXWT4" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease, Less: current portion">(35,842</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Non-current portion of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pn3n3_uRMB_c20251231_z4JkMOZj97k" style="border-bottom: Black 2.5pt double; text-align: right" title="Finance lease, Non-current portion of lease liabilities">1,081,322</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_uRMB_c20251231_zhAy9G0UkKth" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating lease, Non-current portion of lease liabilities">245,373</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

127746000

132474000

47004000

132474000

49958000

132474000

51704000

132474000

54180000

132474000

53658000

922384000 66665000

1712500000

323169000

443637000

41954000

1268863000

281215000

187541000

35842000

1081322000

245373000

<p id="xdx_809_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_ztZNlkduF8ue" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">12. RELATED PARTY BALANCES AND TRANSACTIONS <p id="xdx_89D_ecustom--ScheduleOfMajorRelatedPartiesTableTextBlock_z19pcoUDYavi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The table below sets forth the related parties and their relationships with the Group as of December 31, 2024 and 2025: SCHEDULE OF TABLE SETS FORTH THE MAJOR RELATED PARTIES AND THEIR RELATIONSHIPS WITH THE GROUP <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 30%">Name of related parties</td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 68%">Relationship with the Group</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Abundant Grace Investment Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Principal shareholder</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Pintu Beijing</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Significantly influenced by principal shareholder</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Lightwind Global Limited (“Lightwind”)</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Significantly influenced by principal shareholder</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Fame Dragon Global Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Affiliate of Abundant Grace Investment Limited</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Abundant Glory Investment L.P.</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Affiliate of Abundant Grace Investment Limited</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Astral Success Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Principal shareholder</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Brightest Sky Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Affiliate of Astral Success Limited</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Joy Capital III, L.P</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Affiliate of Astral Success Limited</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Kun Dai</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Chief Executive Officer and director</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Xin Gao Group Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">Controlled by Mr. Kun Dai, the chief executive officer </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Bin Li</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Director</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Erhai Liu</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Director </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Cheng Lu </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Director </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Li Ying</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Director </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">John Zhuang Yang </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Director </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Wenbing Jing</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">President</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Feng Lin </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Chief Financial Officer</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Zhitian Zhang </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Chief Operating Officer</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Chengbin Li</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Chief Technology Officer</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">On February 22, 2024, the Company entered into a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFTEFURUQgUEFSVFkgQkFMQU5DRVMgQU5EIFRSQU5TQUNUSU9OUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_902_eus-gaap--DebtInstrumentTerm_dtY_c20240222__20240222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKunDaiMember_z3ztHolCMZl7" title="Debt term">1one-year loan agreement with Mr. Kun Dai, pursuant to which the Company borrowed RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFTEFURUQgUEFSVFkgQkFMQU5DRVMgQU5EIFRSQU5TQUNUSU9OUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_uRMB_c20240222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKunDaiMember_zzD8TZwkH532">7.0 million from Mr. Kun Dai at an annual interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFTEFURUQgUEFSVFkgQkFMQU5DRVMgQU5EIFRSQU5TQUNUSU9OUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKunDaiMember_zbT2D4NVp7y8">6%. The loan has been totally repaid by April 9, 2025.</td> </tr></table> Except for the loan mentioned above, the loans obtained from Pintu Beijing (Note 7), the senior convertible preferred shares, warrants and forward contracts issued to NIO Capital, Joy Capital and Xin Gao (Note 14), the forward contract issued to Lightwind (Note 7 and 16), the share subscription agreements with Fame Dragon Global Limited, Abundant Grace Investment Limited, Abundant Glory Investment L.P. and Joy Capital (Note 16), and the share incentives for directors and senior management (Note 17), there were no material related party transactions for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 and balances as of December 31, 2024 and 2025. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

<p id="xdx_89D_ecustom--ScheduleOfMajorRelatedPartiesTableTextBlock_z19pcoUDYavi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The table below sets forth the related parties and their relationships with the Group as of December 31, 2024 and 2025: SCHEDULE OF TABLE SETS FORTH THE MAJOR RELATED PARTIES AND THEIR RELATIONSHIPS WITH THE GROUP <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 30%">Name of related parties</td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 68%">Relationship with the Group</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Abundant Grace Investment Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Principal shareholder</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Pintu Beijing</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Significantly influenced by principal shareholder</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Lightwind Global Limited (“Lightwind”)</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Significantly influenced by principal shareholder</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Fame Dragon Global Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Affiliate of Abundant Grace Investment Limited</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Abundant Glory Investment L.P.</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Affiliate of Abundant Grace Investment Limited</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Astral Success Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Principal shareholder</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Brightest Sky Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Affiliate of Astral Success Limited</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Joy Capital III, L.P</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Affiliate of Astral Success Limited</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Kun Dai</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Chief Executive Officer and director</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Xin Gao Group Limited</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">Controlled by Mr. Kun Dai, the chief executive officer </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Bin Li</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Director</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Erhai Liu</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Director </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Cheng Lu </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Director </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Li Ying</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Director </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">John Zhuang Yang </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Director </td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Wenbing Jing</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">President</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Feng Lin </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Chief Financial Officer</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Zhitian Zhang </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Chief Operating Officer</td> </tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Chengbin Li</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Chief Technology Officer</td> </tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">On February 22, 2024, the Company entered into a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFTEFURUQgUEFSVFkgQkFMQU5DRVMgQU5EIFRSQU5TQUNUSU9OUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_902_eus-gaap--DebtInstrumentTerm_dtY_c20240222__20240222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKunDaiMember_z3ztHolCMZl7" title="Debt term">1one-year loan agreement with Mr. Kun Dai, pursuant to which the Company borrowed RMB<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFTEFURUQgUEFSVFkgQkFMQU5DRVMgQU5EIFRSQU5TQUNUSU9OUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_uRMB_c20240222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKunDaiMember_zzD8TZwkH532">7.0 million from Mr. Kun Dai at an annual interest rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJFTEFURUQgUEFSVFkgQkFMQU5DRVMgQU5EIFRSQU5TQUNUSU9OUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKunDaiMember_zbT2D4NVp7y8">6%. The loan has been totally repaid by April 9, 2025.</td> </tr></table> Except for the loan mentioned above, the loans obtained from Pintu Beijing (Note 7), the senior convertible preferred shares, warrants and forward contracts issued to NIO Capital, Joy Capital and Xin Gao (Note 14), the forward contract issued to Lightwind (Note 7 and 16), the share subscription agreements with Fame Dragon Global Limited, Abundant Grace Investment Limited, Abundant Glory Investment L.P. and Joy Capital (Note 16), and the share incentives for directors and senior management (Note 17), there were no material related party transactions for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 and balances as of December 31, 2024 and 2025.

P1Y

7000000.0

0.06

<p id="xdx_80D_eus-gaap--IncomeTaxDisclosureTextBlock_zJYUGnIUr4Tc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">13. 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 <span id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_uPure_c20070316__20070316__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--StateAdministrationOfTaxationChinaMember_zsNk3hgfxkO7" title="Enterprise income tax rate (as a percent)">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”. All of the Group’s PRC subsidiaries are subject to the statutory income tax rate of <span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_uPure_c20250101__20251231__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--StateAdministrationOfTaxationChinaMember__dei--LegalEntityAxis__custom--OtherSubsidiariesMember_z8bCDH1nltn8" title="Enterprise income tax rate (as a percent)">25%. As of December 31, 2025, the major tax jurisdictions of the Group are China and Hong Kong, and the tax year is the calendar year. Composition of loss before income tax expense for the periods presented by jurisdictions are as follows: SCHEDULE OF INCOME TAX EXPENSES FOR PRESENTED JURISDICTIONS <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230401__20240331_zRyBUqXlStZ6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240401__20241231_zqOm0wp5OPP6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zaVnJQahV8f2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxPaidStateAndLocalAfterRefundReceived_uRMB_hus-gaap--IncomeTaxAuthorityAxis__custom--ChineseMainlandMember_zjIXLs68Jbce" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: justify">Chinese Mainland</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">(387,755</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">(200,527</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">(257,362</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxPaidStateAndLocalAfterRefundReceived_uRMB_hus-gaap--IncomeTaxAuthorityAxis__custom--OtherJurisdictionsMember_zKFJHlmZwK1h" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Other jurisdictions</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,505</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,197</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,067</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxPaidStateAndLocalAfterRefundReceived_uRMB_ziZO3XRGE0yh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(370,250</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(201,724</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(262,429</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 13. INCOME TAX EXPENSE (CONTINUED) Composition of income tax expense <p id="xdx_897_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zRnOTjggcZKj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt; background-color: white"> Composition of income tax expense for the periods presented are as follows: SCHEDULE OF CURRENT AND DEFERRED PORTIONS OF INCOME TAX EXPENSE INCLUDE IN THE CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230401__20240331_z2TIZABV9Fml" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240401__20241231_zIkZAKhgXpRb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20251231_zygqMKeMcjgf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--CurrentIncomeTaxExpenseBenefit_iN_pn3n3_di_uRMB_maITEBzuGh_z36Oxca3BXEg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Current income tax expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(311</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(39</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(39</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredIncomeTaxExpenseBenefit_iN_pn3n3_di_uRMB_maITEBzuGh_zDljdvRV31af" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Deferred income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iNT_pn3n3_di_uRMB_mtITEBzuGh_zaKokTlZJx52" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(311</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(39</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(39</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Reconciliation of the differences between statutory tax rate and the effective tax rate <p id="xdx_894_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zmmSFDIeJrv8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">In accordance with the updated requirements of ASU 2023-09, reconciliation between the statutory tax rate and the Group’s effective tax rate for the year ended December 31, 2025 is as follows: SCHEDULE OF RECONCILIATION OF DIFFERENCES BETWEEN STATUTORY TAX RATE AND THE EFFECTIVE TAX RATE <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; font-size: 10pt; text-align: justify"> </td><td style="display: none; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20251231_zZBduXnOEUza" style="border-bottom: Black 1pt solid; display: none; font-size: 10pt; font-weight: bold; text-align: center">Amount</td><td style="display: none; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="display: none; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; display: none; font-size: 10pt; font-weight: bold; text-align: center">Percent</td><td style="display: none; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the year ended December 31, 2025</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Percent</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_zVXZyQXS6xdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt; text-align: justify">Loss before income tax expense</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">(262,429</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_zPIGxsOoNTD3" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Income tax expense computed at PRC statutory income tax rate of 25% (i)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(65,607</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250101__20251231_fKGkp_zntA67TRpFr9" style="font-size: 10pt; text-align: right">25.0</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of different tax rate (ii)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_hus-gaap--IncomeTaxAuthorityAxis__custom--CaymanMember_zAh2cxhIrDia" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-size: 10pt">Cayman (ii)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,221</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_c20250101__20251231__us-gaap--IncomeTaxAuthorityAxis__custom--CaymanMember_fKGlpKQ_____znGNsnf2Wf9a" style="font-size: 10pt; text-align: right">(0.5</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_hus-gaap--IncomeTaxAuthorityAxis__custom--OtherJurisdictionsMember_zZcBNxh208hj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Other jurisdictions (ii)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">26</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_c20250101__20251231__us-gaap--IncomeTaxAuthorityAxis__custom--OtherJurisdictionsMember_fKGlpKQ_____zEULTmJCuQe9" style="font-size: 10pt; text-align: right">(0.0</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-taxable or non-deductible items</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_zoKJwqv53UG7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Effect of share-based compensation expenses</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">11,146</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_pid_dp_uPure_c20250101__20251231_zxYpk5ODhe01" style="font-size: 10pt; text-align: right">(4.2</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment_z3R1TXKVvb7f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Effect of additional deduction for qualified R&D expenditures</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,338</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment_pid_dp_uPure_c20250101__20251231_ziZWH7SfdOf4" style="font-size: 10pt; text-align: right">(1.3</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_zWuBoGwAj40e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt">Other</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">139</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98B_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_c20250101__20251231_zs6djIGUGjKf" style="font-size: 10pt; text-align: right">(0.0</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_zEbi0qpaBYp7" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Change of valuation allowance</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">49,776</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_c20250101__20251231_zla5Sn8SQ93" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(19.0</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxExpenseBenefit_zjPtRwBpK3Rk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">39</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_c20250101__20251231_zpKXzJIC9FWk" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(0.0</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)%</td></tr> </table> Reconciliations of the differences between the statutory income tax rate applicable to losses of the consolidated entities and the Group’s income tax expenses of the fiscal year ended March 31, 2024 and the nine months ended December 31, 2024 in accordance with the guidance prior to the adoption of ASU 2023-09 presented are as follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230401__20240331_z2Ad8wDEusU7" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="font-size: 10pt; padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240401__20251231_zXsg6N4RwZk1" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="font-size: 10pt; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-size: 10pt; vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="font-size: 10pt; padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="font-size: 10pt; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-size: 10pt; vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maTotal_zQpDaqsSGJLk" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; width: 60%; text-align: justify">Statutory income tax rate 25.0% (i)</td><td style="font-size: 10pt; width: 2%"> </td> <td style="font-size: 10pt; width: 1%; text-align: left"> </td><td style="font-size: 10pt; width: 16%; text-align: right">25.0</td><td style="font-size: 10pt; width: 1%; text-align: left">%</td> <td style="font-size: 10pt; width: 2%"> </td> <td style="font-size: 10pt; width: 1%; text-align: left"> </td><td style="font-size: 10pt; width: 16%; text-align: right">25.0</td><td style="font-size: 10pt; width: 1%; text-align: left">%</td></tr> <tr id="xdx_403_ecustom--EffectiveIncomeTaxReconciliationPermanentTaxAdjustments_iI_pid_dp_uPure_maTotal_zbS2hD45Yxh7" style="font-size: 10pt; vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Permanent differences</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(1.1</td><td style="font-size: 10pt; text-align: left">)%</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(1.1</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_maTotal_zg6vDhYJN0Tf" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of different tax rate (ii)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(5.5</td><td style="font-size: 10pt; text-align: left">)%</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">23.2</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maTotal_zFO3f1yiOElh" style="font-size: 10pt; vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Change of valuation allowance</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(18.3</td><td style="font-size: 10pt; padding-bottom: 1pt; text-align: left">)%</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(47.1</td><td style="font-size: 10pt; padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtTotal_zfprFervgpM" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Effective tax rate</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">0.1</td><td style="font-size: 10pt; padding-bottom: 2.5pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">0.0</td><td style="font-size: 10pt; padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">The PRC statutory income tax rate was used because the majority of the Group’s operations are based in PRC.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(ii)</td><td style="width: 5pt"></td><td style="text-align: justify">The effect of different tax rate is attributed to varying rates in other jurisdictions where the Group is established, such as the Cayman Islands or Hong Kong, and the preferential tax rate certain entities in the Group enjoys.</td> </tr></table> All income taxes paid during the period were paid to the tax authorities in Mainland China. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 13. INCOME TAX EXPENSE (CONTINUED) Deferred tax assets and deferred tax liabilities <p id="xdx_897_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zQfqR41IzxX7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth the significant components of the deferred tax assets: SCHEDULE OF SIGNIFICANT COMPONENTS OF THE DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_zGnBzwnrTADf" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zr719y1hWZj2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_uRMB_maDITANzxZA_zm1o2rXjBAL" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Net operating loss carry forwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,328,662</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">362,315</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssetsDeductibleAdvertisingExpense_iI_pn3n3_uRMB_maDITANzxZA_zyTPcfO3zP82" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Deductible advertising expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93,960</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,302</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsLeases_iI_pn3n3_uRMB_maDITANzxZA_zgOUHP7gDZqa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">195,166</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">387,520</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses_iI_pn3n3_uRMB_maDITANzxZA_zhLzNn2zerF2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Provision for credit losses and inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,543</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_uRMB_msDITANzxZA_zdzHdGKPs409" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Less: valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,424,137</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(360,327</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_uRMB_mtDITANzxZA_zYHjjntIjY88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">202,949</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">397,353</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_zeItPT0Hi8hg" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zUTnrNKSdQoc" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredTaxLiabilitiesLeases_iI_pn3n3_uRMB_z4MihVntCJY2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; padding-bottom: 1pt">Leases</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(202,949</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(397,353</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilities_iNI_pn3n3_di_uRMB_z0djB9SnF0B6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total deferred tax liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(202,949</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(397,353</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Movement of valuation allowance SCHEDULE OF MOVEMENT OF VALUATION ALLOWANCE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20230401__20240331_zhPHzVQnAkL5" style="border-bottom: Black 1pt solid; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240401__20241231_ztzj8H5e1Adl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20251231_zgDYZHvbfo8a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsValuationAllowance_iNS_pn3n3_di_uRMB_zxHLUCRqeS5g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Balance at beginning of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(2,187,715</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(1,977,402</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(1,424,137</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--ValuationAllowanceDeferredTaxAssetChangeInAmount_iN_pn3n3_di_uRMB_z9pUvW6Jq6He" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Changes of valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">210,313</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">553,265</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,063,810</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNE_pn3n3_di_uRMB_z9q5VHdarZbf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance at end of the period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,977,402</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,424,137</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(360,327</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> As of December 31, 2025, the Group had net operating loss carry forwards of approximately RMB1,158.0 million which arose from the subsidiaries established in the PRC. For all subsidiaries in China, the loss carry forwards will expire from 2026 to 2030. 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 its net 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, 2024 and 2025. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

0.25

Composition of loss before income tax expense for the periods presented by jurisdictions are as follows: SCHEDULE OF INCOME TAX EXPENSES FOR PRESENTED JURISDICTIONS <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230401__20240331_zRyBUqXlStZ6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240401__20241231_zqOm0wp5OPP6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zaVnJQahV8f2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxPaidStateAndLocalAfterRefundReceived_uRMB_hus-gaap--IncomeTaxAuthorityAxis__custom--ChineseMainlandMember_zjIXLs68Jbce" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: justify">Chinese Mainland</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">(387,755</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">(200,527</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">(257,362</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxPaidStateAndLocalAfterRefundReceived_uRMB_hus-gaap--IncomeTaxAuthorityAxis__custom--OtherJurisdictionsMember_zKFJHlmZwK1h" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Other jurisdictions</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,505</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,197</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,067</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxPaidStateAndLocalAfterRefundReceived_uRMB_ziZO3XRGE0yh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(370,250</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(201,724</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(262,429</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</td></tr> </table>

-387755000

-200527000

-257362000

17505000

-1197000

-5067000

-370250000

-201724000

-262429000

<p id="xdx_897_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zRnOTjggcZKj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt; background-color: white"> Composition of income tax expense for the periods presented are as follows: SCHEDULE OF CURRENT AND DEFERRED PORTIONS OF INCOME TAX EXPENSE INCLUDE IN THE CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230401__20240331_z2TIZABV9Fml" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240401__20241231_zIkZAKhgXpRb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20251231_zygqMKeMcjgf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--CurrentIncomeTaxExpenseBenefit_iN_pn3n3_di_uRMB_maITEBzuGh_z36Oxca3BXEg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Current income tax expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(311</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(39</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(39</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredIncomeTaxExpenseBenefit_iN_pn3n3_di_uRMB_maITEBzuGh_zDljdvRV31af" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Deferred income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iNT_pn3n3_di_uRMB_mtITEBzuGh_zaKokTlZJx52" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(311</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(39</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(39</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

311000

39000

311000

39000

<p id="xdx_894_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zmmSFDIeJrv8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">In accordance with the updated requirements of ASU 2023-09, reconciliation between the statutory tax rate and the Group’s effective tax rate for the year ended December 31, 2025 is as follows: SCHEDULE OF RECONCILIATION OF DIFFERENCES BETWEEN STATUTORY TAX RATE AND THE EFFECTIVE TAX RATE <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; font-size: 10pt; text-align: justify"> </td><td style="display: none; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20251231_zZBduXnOEUza" style="border-bottom: Black 1pt solid; display: none; font-size: 10pt; font-weight: bold; text-align: center">Amount</td><td style="display: none; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="display: none; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; display: none; font-size: 10pt; font-weight: bold; text-align: center">Percent</td><td style="display: none; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the year ended December 31, 2025</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Percent</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_zVXZyQXS6xdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt; text-align: justify">Loss before income tax expense</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">(262,429</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_zPIGxsOoNTD3" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">Income tax expense computed at PRC statutory income tax rate of 25% (i)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(65,607</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250101__20251231_fKGkp_zntA67TRpFr9" style="font-size: 10pt; text-align: right">25.0</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of different tax rate (ii)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_hus-gaap--IncomeTaxAuthorityAxis__custom--CaymanMember_zAh2cxhIrDia" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-size: 10pt">Cayman (ii)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,221</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_c20250101__20251231__us-gaap--IncomeTaxAuthorityAxis__custom--CaymanMember_fKGlpKQ_____znGNsnf2Wf9a" style="font-size: 10pt; text-align: right">(0.5</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_hus-gaap--IncomeTaxAuthorityAxis__custom--OtherJurisdictionsMember_zZcBNxh208hj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Other jurisdictions (ii)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">26</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_982_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_c20250101__20251231__us-gaap--IncomeTaxAuthorityAxis__custom--OtherJurisdictionsMember_fKGlpKQ_____zEULTmJCuQe9" style="font-size: 10pt; text-align: right">(0.0</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-taxable or non-deductible items</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_zoKJwqv53UG7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Effect of share-based compensation expenses</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">11,146</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_pid_dp_uPure_c20250101__20251231_zxYpk5ODhe01" style="font-size: 10pt; text-align: right">(4.2</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment_z3R1TXKVvb7f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; font-size: 10pt; text-align: left">Effect of additional deduction for qualified R&D expenditures</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,338</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment_pid_dp_uPure_c20250101__20251231_ziZWH7SfdOf4" style="font-size: 10pt; text-align: right">(1.3</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_zWuBoGwAj40e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; font-size: 10pt">Other</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">139</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98B_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_c20250101__20251231_zs6djIGUGjKf" style="font-size: 10pt; text-align: right">(0.0</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_zEbi0qpaBYp7" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Change of valuation allowance</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">49,776</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_c20250101__20251231_zla5Sn8SQ93" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(19.0</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxExpenseBenefit_zjPtRwBpK3Rk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">39</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_c20250101__20251231_zpKXzJIC9FWk" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(0.0</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)%</td></tr> </table> Reconciliations of the differences between the statutory income tax rate applicable to losses of the consolidated entities and the Group’s income tax expenses of the fiscal year ended March 31, 2024 and the nine months ended December 31, 2024 in accordance with the guidance prior to the adoption of ASU 2023-09 presented are as follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230401__20240331_z2Ad8wDEusU7" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="font-size: 10pt; padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240401__20251231_zXsg6N4RwZk1" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="font-size: 10pt; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-size: 10pt; vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="font-size: 10pt; padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="font-size: 10pt; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-size: 10pt; vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_maTotal_zQpDaqsSGJLk" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; width: 60%; text-align: justify">Statutory income tax rate 25.0% (i)</td><td style="font-size: 10pt; width: 2%"> </td> <td style="font-size: 10pt; width: 1%; text-align: left"> </td><td style="font-size: 10pt; width: 16%; text-align: right">25.0</td><td style="font-size: 10pt; width: 1%; text-align: left">%</td> <td style="font-size: 10pt; width: 2%"> </td> <td style="font-size: 10pt; width: 1%; text-align: left"> </td><td style="font-size: 10pt; width: 16%; text-align: right">25.0</td><td style="font-size: 10pt; width: 1%; text-align: left">%</td></tr> <tr id="xdx_403_ecustom--EffectiveIncomeTaxReconciliationPermanentTaxAdjustments_iI_pid_dp_uPure_maTotal_zbS2hD45Yxh7" style="font-size: 10pt; vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Permanent differences</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(1.1</td><td style="font-size: 10pt; text-align: left">)%</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(1.1</td><td style="font-size: 10pt; text-align: left">)%</td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate_pid_dp_uPure_maTotal_zg6vDhYJN0Tf" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of different tax rate (ii)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(5.5</td><td style="font-size: 10pt; text-align: left">)%</td> <td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">23.2</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maTotal_zFO3f1yiOElh" style="font-size: 10pt; vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Change of valuation allowance</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(18.3</td><td style="font-size: 10pt; padding-bottom: 1pt; text-align: left">)%</td> <td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(47.1</td><td style="font-size: 10pt; padding-bottom: 1pt; text-align: left">)%</td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtTotal_zfprFervgpM" style="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Effective tax rate</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">0.1</td><td style="font-size: 10pt; padding-bottom: 2.5pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">0.0</td><td style="font-size: 10pt; padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(i)</td><td style="width: 5pt"></td><td style="text-align: justify">The PRC statutory income tax rate was used because the majority of the Group’s operations are based in PRC.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">(ii)</td><td style="width: 5pt"></td><td style="text-align: justify">The effect of different tax rate is attributed to varying rates in other jurisdictions where the Group is established, such as the Cayman Islands or Hong Kong, and the preferential tax rate certain entities in the Group enjoys.</td> </tr></table>

-262429000

-65607000

0.250

1221000

-0.005

26000

-0.000

11146000

-0.042

3338000

-0.013

139000

-0.000

49776000

-0.190

39000

-0.000

0.250

-0.011 -0.011

-0.055

0.232

-0.183

-0.471

0.001

0.000

<p id="xdx_897_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zQfqR41IzxX7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth the significant components of the deferred tax assets: SCHEDULE OF SIGNIFICANT COMPONENTS OF THE DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_zGnBzwnrTADf" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zr719y1hWZj2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_uRMB_maDITANzxZA_zm1o2rXjBAL" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Net operating loss carry forwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,328,662</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">362,315</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssetsDeductibleAdvertisingExpense_iI_pn3n3_uRMB_maDITANzxZA_zyTPcfO3zP82" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Deductible advertising expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93,960</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,302</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsLeases_iI_pn3n3_uRMB_maDITANzxZA_zgOUHP7gDZqa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">195,166</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">387,520</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses_iI_pn3n3_uRMB_maDITANzxZA_zhLzNn2zerF2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Provision for credit losses and inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,543</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_uRMB_msDITANzxZA_zdzHdGKPs409" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Less: valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,424,137</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(360,327</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_uRMB_mtDITANzxZA_zYHjjntIjY88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">202,949</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">397,353</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20241231_zeItPT0Hi8hg" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zUTnrNKSdQoc" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredTaxLiabilitiesLeases_iI_pn3n3_uRMB_z4MihVntCJY2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; padding-bottom: 1pt">Leases</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(202,949</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">(397,353</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilities_iNI_pn3n3_di_uRMB_z0djB9SnF0B6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total deferred tax liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(202,949</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(397,353</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

1328662000

362315000

93960000 1302000 195166000 387520000

9298000

6543000

1424137000

360327000

202949000

397353000

-202949000 -397353000

202949000

397353000

Movement of valuation allowance SCHEDULE OF MOVEMENT OF VALUATION ALLOWANCE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20230401__20240331_zhPHzVQnAkL5" style="border-bottom: Black 1pt solid; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240401__20241231_ztzj8H5e1Adl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20251231_zgDYZHvbfo8a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsValuationAllowance_iNS_pn3n3_di_uRMB_zxHLUCRqeS5g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Balance at beginning of the period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(2,187,715</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(1,977,402</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(1,424,137</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--ValuationAllowanceDeferredTaxAssetChangeInAmount_iN_pn3n3_di_uRMB_z9pUvW6Jq6He" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Changes of valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">210,313</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">553,265</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,063,810</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsValuationAllowance_iNE_pn3n3_di_uRMB_z9q5VHdarZbf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance at end of the period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,977,402</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,424,137</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(360,327</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

2187715000

1977402000

1424137000

-210313000

-553265000

-1063810000

1977402000

1424137000

360327000

1158000000.0

<p id="xdx_80D_ecustom--TemporaryEquityAndWarrantLiabilityDisclosureTextBlock_zXSLWOgRzU24" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">14. SENIOR CONVERTIBLE PREFERRED SHARES AND WARRANTS 2021 Subscription Agreement In June 2021, the Company entered into shares subscription agreements, respectively, with NIO Capital and Joy Capital for an aggregate investment amount of up to US$<span id="xdx_902_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20210601__20210630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalAndJoyCapitalMember_zSrH8pLmswvg" title="Temporary equity new issues">315.0 million for the subscription of senior convertible preferred shares. The first closing in the amount of US$<span id="xdx_905_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20210712__20210712__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalAndJoyCapitalMember__us-gaap--DebtInstrumentAxis__custom--FirstClosingMember_zAb7VtWK13U6" title="Temporary equity new issues">100.0 million was completed for the issuance of <span id="xdx_90D_ecustom--TemporaryEquityStockIssuedDuringPeriodSharesNewIssues_pid_c20210712__20210712__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalAndJoyCapitalMember__us-gaap--DebtInstrumentAxis__custom--FirstClosingMember_zmVYjdxHWQqd" title="Temporary equity new issues shares">291,290,416 senior convertible preferred shares on July 12, 2021. On the same day, the Company also issued warrants to each of NIO Capital and Joy Capital to purchase up to <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20210630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalAndJoyCapitalMember_zVJbuhwAChv2" title="Warrants to purchase shares">240,314,593 senior convertible preferred shares for an aggregate amount of US$165.0 million which was included in the aforementioned US$<span id="xdx_902_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20210601__20210630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalAndJoyCapitalMember_zRuXNKir6Q18" title="Temporary equity new issues">315.0 million. Each investor has the option to exercise the warrants within 18 months of the first closing date. In January 2023, the Company entered into a new agreement with NIO Capital and Joy Capital to extend the expiration date of the forementioned warrants from January 12, 2023 to January 12, 2024. In August 2023, Joy Capital exercised its warrants in full. Warrants authorised to NIO Capital was not exercised and terminated in December 2023. For the second closing in the amount of US$<span id="xdx_90B_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20240401__20241231__us-gaap--DebtInstrumentAxis__custom--SecondClosingMember_zmGPvv1yCORe" title="Temporary equity shares value">50.0 million, US$<span id="xdx_903_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20211101__20211130__us-gaap--DebtInstrumentAxis__custom--SecondClosingMember_zg5Hq8R3w3y5" title="Temporary equity shares value">27.5 million, US$<span id="xdx_90E_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20220301__20220331__us-gaap--DebtInstrumentAxis__custom--SecondClosingMember_zJohfPuEalqa" title="Temporary equity shares value">10.0 million and US$<span id="xdx_90E_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20220601__20220630__us-gaap--DebtInstrumentAxis__custom--SecondClosingMember_zV4WMyoXIhif" title="Temporary equity shares value">7.5 million were received in November 2021, March 2022 and June 2022, respectively, and accordingly, a total of 80,104,865 senior convertible preferred shares, 29,129,042 and 21,846,781 senior convertible preferred shares were issued, respectively. In July 2022, NIO Capital assigned its rights and obligations to an independent third party to subscribe for <span id="xdx_909_ecustom--TemporaryEquityStockIssuedDuringPeriodSharesNewIssues_c20220701__20220731__us-gaap--DebtInstrumentAxis__custom--SecondClosingMember_zQSL9tDNA5H7" title="Number of senior convertible preferred shares issued">14,564,520 senior convertible preferred shares for a total price of US$<span id="xdx_900_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20220701__20220731__us-gaap--DebtInstrumentAxis__custom--SecondClosingMember_zZZL5egyjTmg" title="Aggregate purchase amount of convertible preferred shares">5.0 million under the second closing. On the same day, the Company received the remaining US$<span id="xdx_90E_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20220701__20220731__us-gaap--DebtInstrumentAxis__custom--SecondClosingMember_zfzYTYk2kQ72" title="Temporary equity shares issued value">5.0 million. Following this closing, the second closing of this financing transaction for the amount of US$<span id="xdx_90C_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20230301__20230331__us-gaap--DebtInstrumentAxis__custom--SecondClosingMember_zGHnWNKlw191" title="Temporary equity shares issued value">50.0 million has been completed. 2022 Subscription Agreement In June 2022, the Company entered into another definitive agreement with affiliates of an existing shareholder, NIO Capital. Pursuant to the definitive agreement, NIO Capital had agreed with the Company for the subscription of <span id="xdx_909_ecustom--TemporaryEquityStockIssuedDuringPeriodSharesNewIssues_c20220601__20220630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zmRPxIFS8KL" title="Number of senior convertible preferred shares issued | shares">714,285,714 senior convertible preferred shares for an aggregate amount of US$<span id="xdx_908_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20220601__20220630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zDKpMtOzzlC4" title="Aggregate purchase amount of convertible preferred shares">100.0 million, which was to be paid in multiple instalments. The first payment for the par value of these preferred shares of US$<span id="xdx_906_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn2n3_uUSD_c20220701__20220731__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zdTPiYVOgJo" title="Temporary equity shares issued value">71.4 thousand was made by NIO Capital in July 2022. In October 2022 and March 2023, a total of US$<span id="xdx_902_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20221001__20221031__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zt1X5vXLk2Ig" title="Temporary equity shares issued value">9.9 million and US$<span id="xdx_902_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20230301__20230331__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zjtKkiU3D9Ng" title="Temporary equity shares issued value">8.4 million was paid by NIO Capital The remaining US$<span id="xdx_907_ecustom--SubscriptionReceivableFromShareholders_iI_pn5n6_uUSD_c20230331__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zQa1uAkeVZic" title="Subscriptions receivable">81.6 million was recorded in “Subscription receivable from shareholders” and reflected as a deduction from mezzanine equity as of March 31, 2023. Subsequently on April 4, 2023, NIO Capital, NBNW Investment Limited (“NBNW”, an affiliate of NIO Capital) and the long-term debt holders of the Company, namely WP, TPG, and Magic Carpet, entered into assignment agreements to assign all the rights under the then outstanding long-term debt of US$<span id="xdx_90A_eus-gaap--LongTermDebt_iI_pn5n6_uUSD_c20230404__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_z9MDqEjN79C8" title="Long term debt">61.6 million to NBNW and then further assign to NIO Capital. Concurrently, the Company entered into a supplemental agreement with NIO Capital, and agreed to offset its subscription receivable by US$<span id="xdx_901_eus-gaap--LongTermDebt_iI_pn5n6_uUSD_c20230404__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zxeWFbImHRWe" title="Long term debt">61.6 million with its obligation under long-term debt due to NIO Capital after the assignment. This supplemental agreement resulted in a remaining US$<span id="xdx_906_ecustom--SubscriptionReceivableRemainingFromShareholders_iI_pn6n6_uUSD_c20230404__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zJITgQjPHqr3" title="Subscriptions receivable remaining">20 million amount due to the Company from NIO Capital relating to the aforementioned senior convertible shares subscription agreement. In April and October 2023, subscription receivable of US$<span id="xdx_90B_ecustom--SubscriptionAmountReceivedFromShareholders_pn5n6_uUSD_c20230401__20230430__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_z4bAevhHTkL4" title="Subscriptions receivable">1.6 million and US$<span id="xdx_90F_ecustom--SubscriptionAmountReceivedFromShareholders_pn5n6_uUSD_c20231001__20231031__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zBlyvHxsb9fa" title="Subscriptions receivable">2 million was received. In May, June and July 2024, the subscription receivables amounting to US$<span id="xdx_903_ecustom--SubscriptionReceivableFromShareholders_iI_pn5n6_uUSD_c20240531__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zk3oHL6bnZ1k" title="Subscriptions receivable"><span id="xdx_90A_ecustom--SubscriptionReceivableFromShareholders_iI_pn5n6_uUSD_c20240630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zbV1VH9rkNa3" title="Subscriptions receivable"><span id="xdx_90F_ecustom--SubscriptionReceivableFromShareholders_iI_pn5n6_uUSD_c20240731__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zcFHZuayNLn2" title="Subscriptions receivable">7.0 million (equivalent to RMB<span id="xdx_904_ecustom--SubscriptionReceivableFromShareholders_iI_pn5n6_uRMB_c20240531__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zjs0oqIrw3K9" title="Subscriptions receivable"><span id="xdx_900_ecustom--SubscriptionReceivableFromShareholders_iI_pn5n6_uRMB_c20240630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zTirtsyZaQji" title="Subscriptions receivable"><span id="xdx_90D_ecustom--SubscriptionReceivableFromShareholders_iI_pn5n6_uRMB_c20240731__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zQcUthQYmwPb" title="Subscriptions receivable">49.8 million) were received, and the remaining subscription receivable of US$<span id="xdx_904_ecustom--SubscriptionReceivableRemainingFromShareholders_iI_pn5n6_uUSD_c20240531__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zoWz1JrkiDsf" title="Subscriptions receivable remaining"><span id="xdx_906_ecustom--SubscriptionReceivableRemainingFromShareholders_iI_pn5n6_uUSD_c20240630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zrusUVbNy1g2" title="Subscriptions receivable remaining"><span id="xdx_909_ecustom--SubscriptionReceivableRemainingFromShareholders_iI_pn5n6_uUSD_c20240731__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_z96gJdAVCtv" title="Subscriptions receivable remaining">9.4 million (equivalent to RMB<span id="xdx_904_ecustom--SubscriptionReceivableRemainingFromShareholders_iI_pn5n6_uRMB_c20240531__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_znLAsrnuqYD4" title="Subscriptions receivable remaining"><span id="xdx_907_ecustom--SubscriptionReceivableRemainingFromShareholders_iI_pn5n6_uRMB_c20240630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_z9pDHX3SxFE4" title="Subscriptions receivable remaining"><span id="xdx_902_ecustom--SubscriptionReceivableRemainingFromShareholders_iI_pn5n6_uRMB_c20240731__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zAmRPOxU4TYj" title="Subscriptions receivable remaining">60.5 million) was received in September 2025. 2024 Subscription Agreement On March 26, 2024, the Company entered into definitive agreements with Xin Gao Group Limited (“Xin Gao”) and issued <span id="xdx_907_ecustom--TemporaryEquityStockIssuedDuringPeriodSharesNewIssues_c20240326__20240326__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--XinGaoGroupLtdMember_zgxA8gnKhhR2" title="Number of senior convertible preferred shares issued">1,440,922,190 senior convertible preferred shares at conversion price of US$<span id="xdx_90A_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_pid_uUSDPShares_c20240326__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--XinGaoGroupLtdMember_zDxc2X0XZaa9" title="Temporary equity shares conversion price">0.004858 per Class A ordinary share for an aggregate amount of US$<span id="xdx_90E_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20240326__20240326__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--XinGaoGroupLtdMember_zDmnZxf3cf7a" title="Aggregate purchase amount of convertible preferred shares">7.0 million. As Xin Gao is controlled by Mr. Kun Dai, the Chairman of the Board of Directors and Chief Executive Officer of Company and the fair value of the senior convertible preferred shares is higher than the consideration received from Xin Gao, a share-based compensation expense of US$<span id="xdx_909_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_uUSD_c20240326__20240326__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--XinGaoGroupLtdMember_zj7qKT7qyBli" title="Share based compensation expense">4.0 million (equivalent to RMB<span id="xdx_906_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_uRMB_c20240326__20240326__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--XinGaoGroupLtdMember_zQTtm2V4nKVg" title="Share based compensation expense">28.7 million) equal to the difference between the fair value of the preferred shares issued and the consideration received was recorded in general and administrative expenses in March 2024. On March 27, 2024, as agreed by all preferred shareholders, all senior convertible preferred shares were converted into Class A ordinary shares. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 14. SENIOR CONVERTIBLE PREFERRED SHARES AND WARRANTS (CONTINUED) The major rights, preferences and privileges of the senior convertible preferred shares under the 2024 Subscription Agreement, 2022 Subscription Agreement and 2021 Subscription Agreement are as follows: Conversion rights Each senior convertible preferred share shall be convertible, at any time and from time to time from and after the applicable original issue date of 2021 Subscription Agreement and 2022 Subscription Agreement. The original conversion price for each senior convertible preferred share shall be US$<span id="xdx_90B_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_pid_uUSDPShares_c20251231__us-gaap--TypeOfArrangementAxis__custom--TwentyTwentyOneSubscriptionAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zRLVRbEYZl52" title="Conversion price">0.3433 per Class A ordinary share for 2021 Subscription Agreement. The conversion price down round feature is triggered when the Company provides for a lower conversion price in subsequent convertible preferred shares offerings. The provision of a lower conversion price results in the repricing of existing convertible preferred offerings to match any such lower stated conversion rate. According to 2022 Subscription Agreement, the conversion price for each senior convertible preferred share shall be US$<span id="xdx_909_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_uUSDPShares_c20251231__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyTwoSubscriptionAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvZ74xtxj986" title="Conversion price">0.14 per Class A ordinary share. At the closing of 2022 Subscription, the conversion price for each senior convertible preferred share issued pursuant to the 2021 Subscription Agreement and outstanding were adjusted to US$<span id="xdx_90B_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_uUSDPShares_c20251231__us-gaap--TypeOfArrangementAxis__custom--TwoThousandTwentyOneSubscriptionAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z0YIBeqL0EQ7" title="Conversion price">0.14 per Class A ordinary share. In August 2023, Joy Capital exercised its warrants to purchase senior convertible preferred shares and the Company issued senior convertible preferred shares to Joy Capital at conversion price of US$<span id="xdx_90A_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_uUSDPShares_c20230801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JoyCapitalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwRhAMuZweO4" title="Conversion price">0.0457 per Class A ordinary share. The conversion price for each senior convertible preferred share outstanding as of the date were further adjusted to US$<span id="xdx_90A_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_uUSDPShares_c20230801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JoyCapitalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zC48aSvK1D7f" title="Conversion price">0.0457 per Class A ordinary share. On March 26, 2024, the Company issued senior convertible preferred share to Xin Gao Group Limited at conversion price of US$<span id="xdx_901_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_uUSDPShares_c20240326__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--XinGaoGroupLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zSxS5hqx4si1" title="Conversion price">0.004858 per Class A ordinary share. As a result, the conversion price for each senior convertible preferred share outstanding as of the date were further adjusted to US$<span id="xdx_901_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_uUSDPShares_c20240326__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--XinGaoGroupLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBxH6KZkrz07" title="Conversion price">0.004858 per Class A ordinary share. On March 27, 2024, as agreed by all preferred shareholders, all senior convertible preferred shares were converted into Class A ordinary shares at conversion price at US$<span id="xdx_905_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_uUSDPShares_c20240327__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--XinGaoGroupLimitedMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zTHA45VmpQ1d" title="Conversion price">0.004858 per ordinary share. Voting rights Holder of each senior convertible preferred share shall be entitled to vote that number of votes equal to the largest number of whole shares of Class A ordinary shares into which each such senior convertible preferred shares could be converted. Dividends Each senior convertible preferred share shall have the right to receive dividends, on as converted and non-cumulative basis, when, as and if declared by the Board. No dividend shall be paid on the ordinary shares at any time unless and until all dividends on the senior convertible preferred share have been paid in full. No dividends on preferred and ordinary shares have been declared since the issuance date until December 31, 2025. Liquidation Preference Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, each senior convertible preferred shareholder shall be entitled to receive out of the assets, whether capital or surplus, of the Company an amount equal to one hundred and fifty percent (<span id="xdx_901_ecustom--TemporaryEquityPercentageOfLiquidationPreferenceOnShareIssuePrice_pid_dp_uPure_c20250101__20251231_zux7ZgSgLYCk" title="Percentage of liquidation preference on original preferred share issue price">150%) of applicable stated value, per senior convertible preferred share held by such holder, plus any accrued and unpaid dividends, before any distribution or payment shall be made to the holders of any junior securities. Redemption Rights At any time and from time to time, upon written notice of each holder of senior convertible preferred share, the Company shall redeem all or part of the senior convertible preferred share held by such holder at the redemption price (as defined below), provided that any of the following events occurs: (i) any material breach of any of the representations, warranties or covenants by the Company; (ii) any conviction of breaches or violation of Applicable Law by the Company which is reasonably expected to have a material adverse effect; (iii) during the principal lock-up period, all or part of the 40,809,861 Class B ordinary shares held by the principal parties shall be subject to enforcement, foreclosure, freezing order or other judicial measures; (iv) the principal’s employment with the Company shall be terminated for whatever reason; (v) the Company shall fail to have available a sufficient number of authorized and unreserved Class A ordinary shares to issue to such holder upon a conversion hereunder; (vi) there shall have occurred a bankruptcy event; (vii) the ADSs shall fail to be listed or quoted for trading on a trading market for more than five (5) Trading Days, which need not be consecutive trading days; (viii) the electronic transfer by the Company of ADSs through the depository trust company or another established clearing corporation is no longer available or is subject to a “chill”; (ix) with respect to the senior convertible preferred shares issued pursuant to the 2022 Subscription Agreement only, the Company shall receive any notice (whether written or not) from any holder of a 2024 Note declaring accelerate payment of its outstanding principal and interests accruing thereon under the 2024 Note held by it based on occurrence of any Event of Default under the 2024 Notes (whether actual of alleged). Redemption price is defined as sum of the aggregate amount of the stated value (as adjusted for any share dividends, combinations, splits, recapitalizations and the like), plus an amount accruing at a compound annual rate of eight percent (8%) of such stated value for a period of time commencing from the original issue date and ending on the redemption closing date plus any accrued but unpaid dividends. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 14. SENIOR CONVERTIBLE PREFERRED SHARES AND WARRANTS (CONTINUED) Accounting for senior convertible preferred share and warrants The Company classified the senior convertible preferred shares in the mezzanine equity section of the Consolidated Balance Sheets because certain redemption features allow the senior convertible preferred shareholders to force the Company to redeem the preferred shares and therefore, the senior convertible preferred shares are considered contingently redeemable upon the occurrence of certain liquidation events outside of the Company’s control. The senior convertible preferred share is carried at the amount recorded at inception and no accretion to the redemption value is needed until it becomes probable that the preferred shares will become redeemable. Continual evaluation is performed to assess whether probable of becoming redeemable. The Company classified the warrants in the warrant liabilities and recorded at fair value initially with subsequent changes in fair value recorded in the profit and loss as warrants issued with redeemable share are liabilities within the scope of ASC 480. Warrants issued in connection with debt or equity, if the warrants are classified as a liability and recorded at fair value with changes in fair value recorded in the profit and loss, then the proceeds should be allocated first to the warrants based on their fair value (not relative fair value). The residual should be allocated to the base debt or equity instrument. Therefore, all proceeds were allocated to warrants on July 12, 2021, as the fair value of the warrants on that day was higher than total proceeds received. Besides, financial liabilities that are required to be measured at fair value should be recorded at fair value with the excess of the fair value over the net proceeds received recognized as a loss in the profit and loss. The Company classified the obligation for the second closing as forward contracts as the investors were obligated to purchase and the Company was required to issue the shares within that twelve-month period since the first closing date. Forward contracts were recorded at fair value initially with subsequent fair value changes to be recorded through profit and loss. The Company determined that, the reduction of the conversion price for senior convertible preferred shares in July 2022, August 2023 and March 2024 <span id="xdx_908_eus-gaap--PreferredStockConvertibleDownRoundFeatureTrigger_dbT_c20220701__20220731__us-gaap--StatementEquityComponentsAxis__custom--SeniorConvertiblePreferredsharesMember_ztazwM724Ucb" title="Preferred Stock, Convertible, Down Round Feature, Trigger [true false]"><span id="xdx_90E_eus-gaap--PreferredStockConvertibleDownRoundFeatureTrigger_dbT_c20220801__20220831__us-gaap--StatementEquityComponentsAxis__custom--SeniorConvertiblePreferredsharesMember_zPmt5WGTUtOi" title="Preferred Stock, Convertible, Down Round Feature, Trigger [true false]"><span id="xdx_90C_eus-gaap--PreferredStockConvertibleDownRoundFeatureTrigger_dbT_c20240301__20240331__us-gaap--StatementEquityComponentsAxis__custom--SeniorConvertiblePreferredsharesMember_zDP9361UbQUb" title="Preferred Stock, Convertible, Down Round Feature, Trigger [true false]">triggered the down round feature operative within the then existing senior convertible preferred shares. The fair value impact related to the reduction in the conversion price of the senior convertible preferred shares in July 2022, August 2023 and March 2024, amounting to RMB<span id="xdx_900_eus-gaap--PreferredStockConvertibleDownRoundFeatureIncreaseDecreaseInEquityAmount1_pn5n6_uRMB_c20220701__20220731__us-gaap--StatementEquityComponentsAxis__custom--SeniorConvertiblePreferredsharesMember_zicqY0aX1lm4" title="Fair value">755.6 million, RMB<span id="xdx_909_eus-gaap--PreferredStockConvertibleDownRoundFeatureIncreaseDecreaseInEquityAmount1_pn5n6_uRMB_c20230801__20230831__us-gaap--StatementEquityComponentsAxis__custom--SeniorConvertiblePreferredsharesMember_zDWEY050DSz3" title="Fair value">278.8 million and RMB<span id="xdx_909_eus-gaap--PreferredStockConvertibleDownRoundFeatureIncreaseDecreaseInEquityAmount1_pn5n6_uRMB_c20240301__20240331__us-gaap--StatementEquityComponentsAxis__custom--SeniorConvertiblePreferredsharesMember_zqxdFWlEEjnl" title="Senior convertible preferred shares, value">1,781.5 million respectively, was recorded as a charge to accumulated deficit and a credit to additional paid in capital in permanent equity. The Company’s senior convertible preferred shares activities for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 are summarized below (except the fair value impact of the down round feature which solely affected the classification of permanent equity): <p id="xdx_892_ecustom--SummaryOfSeniorConvertiblePreferredSharesActivitiesTableTextBlock_ztlU6Q9DdAmj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The movement of mezzanine equity related to senior convertible preferred shares during the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF MOVEMENTS OF MEZZANINE EQUITY RELATED TO SENIOR CONVERTIBLE PREFERRED SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; padding-bottom: 2.5pt">Beginning balance as of March 31, 2023</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_iS_uRMB_c20230401__20240331_zgaytlGvGWPf" style="border-bottom: Black 2.5pt double; width: 16%; text-align: right" title="Balance">695,647</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Issuance of senior convertible preferred shares</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_uRMB_c20230401__20240331_zjHDAV4PwrWb" style="text-align: right" title="Issuance of senior convertible preferred shares">163,072</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Settlement of subscription receivable from preferred shareholders</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--SubscriptionReceivableOnConvertiblePreferredSharesFromShareholders_uRMB_c20230401__20240331_zkg1vEoGwHEe" style="text-align: right" title="Settlement of subscription receivable from preferred shareholders">442,195</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Conversion to Class A ordinary shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--ConversionOfOrdinaryShares_uRMB_c20230401__20240331_z2lYIpvHJHe1" style="border-bottom: Black 1pt solid; text-align: right" title="Conversion to Class A ordinary shares">(1,300,914</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance as of March 31, 2024, December 31, 2024 and 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Conversion to Class A ordinary shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--ConversionOfOrdinaryShares_uRMB_c20250101__20251231_z7BjH8nwasQ5" style="border-bottom: Black 1pt solid; text-align: right" title="Conversion to Class A ordinary shares">-</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 14. SENIOR CONVERTIBLE PREFERRED SHARES AND WARRANTS (CONTINUED) <p id="xdx_89A_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zQWTu2JTSCL8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The roll forward of Level 3 financial instruments, including both warrant liabilities and forward contracts, during the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF ROLL FORWARD OF LEVEL 3 INVESTMENT WARRANT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; padding-bottom: 2.5pt">Fair value of Level 3 financial instruments as of March 31, 2023</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230401__20240331__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zVcOGT4KDGw" style="border-bottom: Black 2.5pt double; width: 16%; text-align: right" title="Fair value, balance">8</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">The change in fair value of financial instruments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityChangeInFairValue_uRMB_c20230401__20240331__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zJBTIt9UamQa" style="text-align: right" title="The change in fair value of financial instruments">11,776</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Settlement of warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_uRMB_c20230401__20240331__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zi9vhP75P5Jf" style="text-align: right" title="Settlement of forward contracts/warrants">(12,617</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslation_uRMB_c20230401__20240331__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zw9sQnBDYoy3" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation">833</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Fair value of Level 3 financial instruments as of March 31, 2024, December 31, 2024 and 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_901_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240401__20241231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zCaG2fnFelRd" title="Fair value, balance"><span id="xdx_90E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20240401__20241231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_z7RbakPN7Kc8" title="Fair value, balance"><span id="xdx_903_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zJS3P5Uqtzkg" title="Fair value, balance"><span id="xdx_908_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zTPi0lHteuQ4" title="Fair value, balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslation_uRMB_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zcMKOb1LJ4Gg" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_891_ecustom--SummaryOfCompositionOfTheFairValueImpactOfTheIssuanceOfSeniorConvertiblePreferredSharesTableTextBlock_z1d0igUOmg33" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The composition of the fair value impact of the issuance of senior convertible preferred shares during the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF COMPOSITION OF FAIR VALUE IMPACT OF ISSUANCE OF SENIOR CONVERTIBLE PREFERRED SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230401__20240331_zby09hhqsRwa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240401__20241231_zXRWABay6a4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20251231_zLEznqFxSjZ7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_402_ecustom--FairValueImpactOfWarrants_zI4dLXxqqfs" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 46%; text-align: justify">Fair value impact of the warrants</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">(11,776</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right"> -</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right"> -</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--FairValueImpactOfIssuanceOfSeniorConvertiblePreferredShares_zbkRKIroosA7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Fair value impact of issuance of senior convertible preferred shares</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(11,776</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The forward contracts and warrants are not traded in an active securities market. In terms of forward contracts, discounted cash flow model was applied to estimate its fair value using the risk-free interest rate as the discount rate. <p id="xdx_898_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zUXILDkrJAee" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">For the warrants, with the assistance from an independent valuation firm, the Company estimated its fair value using the Black-Scholes option pricing model using the following main assumptions: SCHEDULE OF ESTIMATED FAIR VALUE USING THE BLACK-SCHOLES OPTION PRICING MODEL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zjDwBlzpggIc" title="Warrant liabilities measurement input">5.43%~<span id="xdx_909_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zUghYt673zOd" title="Warrant liabilities measurement input">5.55</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_z39gV3LNIRQ1" title="Warrant liabilities measurement input">37.35%~<span id="xdx_902_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zEZx8UkzWFkf" title="Warrant liabilities measurement input">40.84</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_903_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zy2iOXlLCd32" title="Warrant liabilities measurement input">0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zqsowFAWS98" title="Warrant liabilities measurement input">0.25~<span id="xdx_90C_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zsbcQ4JkkWSd" title="Warrant liabilities measurement input">0.28</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value of underlying senior convertible preferred share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">US$<span id="xdx_901_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__srt--RangeAxis__srt--MinimumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zVRl7D4SDVGi" title="Warrant liabilities measurement input">0.05~US$<span id="xdx_904_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__srt--RangeAxis__srt--MaximumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zM7Oxzcq7Uci" title="Warrant liabilities measurement input">0.06</td><td style="text-align: left"> </td></tr> </table> For the fair value impact related to the reduction in the conversion price of the senior convertible preferred shares, with the assistance from an independent valuation firm, the Company made estimation using a hybrid method comprising the probability-weighted method and Black-Scholes option pricing model. In addition to probability of the scenarios assumed, other main data and assumptions used are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20230401__20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementClassOfStockAxis__custom--SeniorConvertiblePreferredStockMember_zP15AEdW2FG4" title="Risk-free interest rate, Minimum">4.30%~<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20230401__20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementClassOfStockAxis__custom--SeniorConvertiblePreferredStockMember_zcrnzTD4ijFj" title="Risk-free interest rate, Maximum">4.72</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230401__20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--StatementClassOfStockAxis__custom--SeniorConvertiblePreferredStockMember_zFCuMCcrpZ5b" title="Expected volatility, Minimum">49.72%-<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230401__20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--StatementClassOfStockAxis__custom--SeniorConvertiblePreferredStockMember_zSivd4ZeRCdd" title="Expected volatility, Maximum">53.69</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20230401__20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementClassOfStockAxis__custom--SeniorConvertiblePreferredStockMember_zPdMsaiywqoi" title="Dividend yield">0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230401__20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementClassOfStockAxis__custom--SeniorConvertiblePreferredStockMember_z9qzkmQ2oN68" title="Expected term (in years)">3.5-<span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230401__20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementClassOfStockAxis__custom--SeniorConvertiblePreferredStockMember_zz5ZSOMRAfNa" title="Expected term (in years)">3.9</td><td style="text-align: left"> </td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) <p id="xdx_893_ecustom--FairValueAssetsAndLiabilitiesMeasuredOnValuationTechniquesTableTextBlock_z9pwVU5IVH0a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt"> SCHEDULE OF VALUATION ASSUMPTIONS

315000000.0

100000000.0

291290416

240314593

165000000.0

315000000.0

50000000.0

27500000

10000000.0

7500000

80104865 29129042 21846781 14564520

5000000.0

50000000.0

714285714

100000000.0

71400

9900000

8400000

81600000

61600000

20000000 1600000 2000000 7000000.0 7000000.0 7000000.0 49800000 49800000 49800000 9400000 9400000 9400000 60500000 60500000 60500000 1440922190

0.004858

7000000.0

4000000.0

28700000

0.3433

0.14

0.0457

0.004858

1.50

40809861

5 0.08

true

755600000

278800000

1781500000

<p id="xdx_892_ecustom--SummaryOfSeniorConvertiblePreferredSharesActivitiesTableTextBlock_ztlU6Q9DdAmj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The movement of mezzanine equity related to senior convertible preferred shares during the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF MOVEMENTS OF MEZZANINE EQUITY RELATED TO SENIOR CONVERTIBLE PREFERRED SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Preferred shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; padding-bottom: 2.5pt">Beginning balance as of March 31, 2023</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_iS_uRMB_c20230401__20240331_zgaytlGvGWPf" style="border-bottom: Black 2.5pt double; width: 16%; text-align: right" title="Balance">695,647</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Issuance of senior convertible preferred shares</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--TemporaryEquityStockIssuedDuringPeriodValueNewIssues_uRMB_c20230401__20240331_zjHDAV4PwrWb" style="text-align: right" title="Issuance of senior convertible preferred shares">163,072</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Settlement of subscription receivable from preferred shareholders</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--SubscriptionReceivableOnConvertiblePreferredSharesFromShareholders_uRMB_c20230401__20240331_zkg1vEoGwHEe" style="text-align: right" title="Settlement of subscription receivable from preferred shareholders">442,195</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Conversion to Class A ordinary shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--ConversionOfOrdinaryShares_uRMB_c20230401__20240331_z2lYIpvHJHe1" style="border-bottom: Black 1pt solid; text-align: right" title="Conversion to Class A ordinary shares">(1,300,914</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance as of March 31, 2024, December 31, 2024 and 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Conversion to Class A ordinary shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--ConversionOfOrdinaryShares_uRMB_c20250101__20251231_z7BjH8nwasQ5" style="border-bottom: Black 1pt solid; text-align: right" title="Conversion to Class A ordinary shares">-</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table>

695647000

163072000

442195000 -1300914000

<p id="xdx_89A_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zQWTu2JTSCL8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The roll forward of Level 3 financial instruments, including both warrant liabilities and forward contracts, during the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF ROLL FORWARD OF LEVEL 3 INVESTMENT WARRANT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; font-weight: bold; padding-bottom: 2.5pt">Fair value of Level 3 financial instruments as of March 31, 2023</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230401__20240331__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zVcOGT4KDGw" style="border-bottom: Black 2.5pt double; width: 16%; text-align: right" title="Fair value, balance">8</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">The change in fair value of financial instruments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityChangeInFairValue_uRMB_c20230401__20240331__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zJBTIt9UamQa" style="text-align: right" title="The change in fair value of financial instruments">11,776</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Settlement of warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_uRMB_c20230401__20240331__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zi9vhP75P5Jf" style="text-align: right" title="Settlement of forward contracts/warrants">(12,617</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslation_uRMB_c20230401__20240331__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zw9sQnBDYoy3" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation">833</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Fair value of Level 3 financial instruments as of March 31, 2024, December 31, 2024 and 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_901_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240401__20241231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zCaG2fnFelRd" title="Fair value, balance"><span id="xdx_90E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20240401__20241231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_z7RbakPN7Kc8" title="Fair value, balance"><span id="xdx_903_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zJS3P5Uqtzkg" title="Fair value, balance"><span id="xdx_908_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zTPi0lHteuQ4" title="Fair value, balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslation_uRMB_c20250101__20251231__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zcMKOb1LJ4Gg" style="border-bottom: Black 1pt solid; text-align: right" title="Foreign currency translation">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

8000

11776000

-12617000

833000 <p id="xdx_891_ecustom--SummaryOfCompositionOfTheFairValueImpactOfTheIssuanceOfSeniorConvertiblePreferredSharesTableTextBlock_z1d0igUOmg33" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The composition of the fair value impact of the issuance of senior convertible preferred shares during the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF COMPOSITION OF FAIR VALUE IMPACT OF ISSUANCE OF SENIOR CONVERTIBLE PREFERRED SHARES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20230401__20240331_zby09hhqsRwa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240401__20241231_zXRWABay6a4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20251231_zLEznqFxSjZ7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_402_ecustom--FairValueImpactOfWarrants_zI4dLXxqqfs" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 46%; text-align: justify">Fair value impact of the warrants</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">(11,776</td><td style="padding-bottom: 1pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right"> -</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right"> -</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--FairValueImpactOfIssuanceOfSeniorConvertiblePreferredShares_zbkRKIroosA7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Fair value impact of issuance of senior convertible preferred shares</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(11,776</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> -11776000 -11776000

<p id="xdx_898_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zUXILDkrJAee" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">For the warrants, with the assistance from an independent valuation firm, the Company estimated its fair value using the Black-Scholes option pricing model using the following main assumptions: SCHEDULE OF ESTIMATED FAIR VALUE USING THE BLACK-SCHOLES OPTION PRICING MODEL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zjDwBlzpggIc" title="Warrant liabilities measurement input">5.43%~<span id="xdx_909_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zUghYt673zOd" title="Warrant liabilities measurement input">5.55</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_z39gV3LNIRQ1" title="Warrant liabilities measurement input">37.35%~<span id="xdx_902_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zEZx8UkzWFkf" title="Warrant liabilities measurement input">40.84</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_903_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zy2iOXlLCd32" title="Warrant liabilities measurement input">0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zqsowFAWS98" title="Warrant liabilities measurement input">0.25~<span id="xdx_90C_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zsbcQ4JkkWSd" title="Warrant liabilities measurement input">0.28</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value of underlying senior convertible preferred share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">US$<span id="xdx_901_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__srt--RangeAxis__srt--MinimumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zVRl7D4SDVGi" title="Warrant liabilities measurement input">0.05~US$<span id="xdx_904_ecustom--WarrantLiabilitiesMeasurementInput_iI_pid_uPure_c20240331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember__srt--RangeAxis__srt--MaximumMember__us-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zM7Oxzcq7Uci" title="Warrant liabilities measurement input">0.06</td><td style="text-align: left"> </td></tr> </table>

5.43 5.55 37.35 40.84 0 0.25 0.28 0.05 0.06

0.0430

0.0472

0.4972

0.5369

P3Y6M

P3Y10M24D

<p id="xdx_893_ecustom--FairValueAssetsAndLiabilitiesMeasuredOnValuationTechniquesTableTextBlock_z9pwVU5IVH0a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt"> SCHEDULE OF VALUATION ASSUMPTIONS

<p id="xdx_808_eus-gaap--MinorityInterestDisclosureTextBlock_zCURs7S4Vybd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">15. REDEEMABLE NON-CONTROLLING INTERESTS Hefei In addition to the lease agreement Uxin Hefei entered into with HCI as described in Note 11, Uxin Hefei also entered into an equity investment agreement with HCI. Pursuant to this agreement, HCI will invest by multiple instalments in Uxin Hefei, and each instalment will be made after the lease payment made by Uxin Hefei over a 10-year period. While HCI committed to invest, details of each investment will be subject to future negotiation. In October 2023, April 2025 and March 2026, Uxin Hefei and HCI mutually agreed that HCI will convert its first-year, second-year and third-year rental of RMB<span id="xdx_901_eus-gaap--PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_pn5n6_c20231001__20231031__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zVp4fELJWhL8" title="Investment">147.1 million, RMB<span id="xdx_906_eus-gaap--PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_pn5n6_c20250401__20250430__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zjDYlCSjQNL2" title="Investment">127.7 million and RMB<span id="xdx_902_eus-gaap--PaymentsForRepurchaseOfRedeemableNoncontrollingInterest_pn5n6_c20260301__20260331__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z8dtB9oAf2ek" title="Investment">127.7 million into an investment for the subscription of <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20231031__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zVuMwLWC7oBj" title="Investment subscription percent">12.02%, <span id="xdx_904_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20250430__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zRle91dty3j6" title="Investment subscription percent">8.40% and <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20260331__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zBqvPi8VHpUi" title="Investment subscription percent">6.92% equity interests in Uxin Hefei. The <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20231031__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zYQOk1dqhvJ4" title="Investment subscription percent">12.02%, <span id="xdx_904_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20250430__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zI6GVifzdN59" title="Investment subscription percent">8.40% and <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20260331__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zjDxuPDnP2R3" title="Investment subscription percent">6.92% equity interests in Uxin Hefei held by HCI are redeemable at the holders’ option when Uxin Hefei meets the performance condition or fails to meet certain conditions as stipulated in the equity investment agreement, which are not solely within the control of Uxin Hefei. As HCI’s redemption rights and Uxin Hefei’s repurchase rights in the equity investment agreement do not meet the criteria as a derivative, no bifurcation of the redemption and repurchase rights is required. Accordingly, such <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20231031__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zfxCOyDjEVz4" title="Investment subscription percent">12.02%, <span id="xdx_904_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20250430__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember_zehlRhXp1Dzc" title="Investment subscription percent">8.40% and <span id="xdx_902_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20260331__srt--OwnershipAxis__custom--HefeiConstructionInvestmentNorthCityIndustrialInvestmentCoLtdMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z6GH1uUyEnE2" title="Investment subscription percent">6.92% equity interests in Uxin Hefei are recorded and accounted for as a whole as redeemable non-controlling interests outside of permanent equity in the Group’s Consolidated Balance Sheets in accordance with ASC 480-10-S99-3A. Subsequently, the redeemable non-controlling interests should be carried at the higher of (1) the carrying amount after the attribution of net income or loss of Uxin Hefei (2) the expected redemption value. The Group accretes for the difference between the initial carrying value and the ultimate redemption price to the earliest possible redemption date using the effective interest method. The accretion, which increases the carrying value of the redeemable non-controlling interests, is recorded against accumulated deficit. Wuhan In October, 2024, the Company, through Uxin Anhui, entered into an agreement with Wuhan Junshan Urban Asset Operation Co.,Ltd. (“Wuhan Junshan”), a company indirectly controlled by Wuhan City Economic & Technological Development Zone, to establish a subsidiary Uxin Wuhan. Pursuant to this agreement, Uxin Anhui will contribute RMB<span id="xdx_904_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20241001__20241031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinAnhuiMember_zRY7W24BeAm9" title="Proceeds from related party debt">66.7 million and Wuhan Junshan will contribute RMB<span id="xdx_906_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20241001__20241031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--WuhanJunshanMember_zGywtPdmaM73" title="Proceeds from related party debt">33.3 million, representing approximately <span id="xdx_90D_ecustom--PrecentageOfRelatedPartyContribution_pid_dp_c20241001__20241031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinAnhuiMember_z1ETqhO8yh67" title="Precentage of related party contribution">66.7% and <span id="xdx_904_ecustom--PrecentageOfRelatedPartyContribution_pid_dp_c20241001__20241031__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--WuhanJunshanMember_zXQGvlH7auJ7" title="Precentage of related party contribution">33.3% of Uxin Wuhan’s total registered capital, respectively. As of December 31, 2025, the Company and Wuhan Junshan each made contributions of RMB<span id="xdx_902_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--WuhanJunshanMember_zNkFkNZiBnve" title="Proceeds from related party debt">26.0 million to Uxin Wuhan, respectively. The <span id="xdx_907_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20241031__srt--OwnershipAxis__custom--UxinWuhanMember_zW2RqyBmm6u2" title="Investment subscription percent">33.3% equity interests in Uxin Wuhan held by Wuhan Junshan are redeemable at the holders’ option when Uxin Wuhan fails to meet any of the performance targets or as stipulated in the equity investment agreement, which are not solely within the control of Uxin Anhui. As Wuhan Junsahn’s redemption rights and Uxin Anhui’s repurchase rights in the equity investment agreement do not meet the criteria as a derivative, no bifurcation of the redemption and repurchase rights is required. Accordingly, such <span id="xdx_90B_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20241031__srt--OwnershipAxis__custom--UxinWuhanMember_zr1B0fzBeXAh" title="Investment subscription percent">33.3% equity interests in Uxin Wuhan are recorded and accounted for as a whole as redeemable non-controlling interests outside of permanent equity in the Group’s Consolidated Balance Sheets in accordance with ASC 480-10-S99-3A. Subsequently, the redeemable non-controlling interests should be carried at the higher of (1) the carrying amount after the attribution of net income or loss of Uxin Wuhan (2) the expected redemption value. The Group accretes for the difference between the initial carrying value and the ultimate redemption price to the earliest possible redemption date using the effective interest method. The accretion, which increases the carrying value of the redeemable non-controlling interests, is recorded against accumulated deficit. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 15. REDEEMABLE NON-CONTROLLING INTERESTS (CONTINUED) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 251.95pt">Zhengzhou</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"></td></tr></table> On July 8, 2024, the Company, through Uxin Anhui, entered into a strategic partnership with Zhengzhou Airport Automobile Industry Co., Ltd. (“Zhengzhou Airport Industry”) to establish Youxin (Zhengzhou) Automobile Intelligent Remanufacturing Co., Ltd. (“Uxin Zhengzhou”). Pursuant to the equity investment agreement, Uxin Anhui will contribute RMB<span id="xdx_902_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20240708__20240708__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinAnhuiMember_zdGojW3hJOVg" title="Proceeds from related party debt">120.0 million and Zhengzhou Airport Industry will contribute RMB<span id="xdx_906_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20240708__20240708__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZhengzhouMember_z8Nd8DgOrHE9" title="Proceeds from related party debt">50.0 million, representing approximately <span id="xdx_905_ecustom--PrecentageOfRelatedPartyContribution_pid_dp_uPure_c20240708__20240708__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinAnhuiMember_zCOtqgMVtEKf" title="Precentage of related party contribution">70.59% and <span id="xdx_90E_ecustom--PrecentageOfRelatedPartyContribution_pid_dp_uPure_c20240708__20240708__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZhengzhouMember_zau2dXwbAMj" title="Precentage of related party contribution">29.41% of Uxin Zhengzhou’s total registered capital, respectively. As of December 31, 2025, the Company and Zhengzhou Airport Industry made contributions of RMB<span id="xdx_90B_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZhengzhouMember_zacZdDssUR93" title="Proceeds from related party debt">30.0 million and RMB<span id="xdx_900_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinZhengzhouMember_zh9o5s9V2152" title="Proceeds from related party debt">12.5 million to Uxin Zhengzhou, respectively. The <span id="xdx_908_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20240708__srt--OwnershipAxis__custom--UxinZhengzhouMember_zHLbs1KEjrB9" title="Investment subscription percent">29.41% equity interests in Uxin Zhengzhou held by Zhengzhou Airport Industry are redeemable at the holders’ option when Uxin Zhengzhou fails to meet any of the performance targets or as stipulated in the equity investment agreement, which are not solely within the control of Uxin Anhui. As Zhengzhou Airport Industry’s redemption rights and Uxin Anhui’s repurchase rights in the equity investment agreement do not meet the criteria as a derivative, no bifurcation of the redemption and repurchase rights is required. Accordingly, such <span id="xdx_908_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20240708__srt--OwnershipAxis__custom--UxinZhengzhouMember_zGug5OCmUK8b" title="Investment subscription percent">29.41% equity interests in Uxin Zhengzhou are recorded and accounted for as a whole as redeemable non-controlling interests outside of permanent equity in the Group’s Consolidated Balance Sheets in accordance with ASC 480-10-S99-3A. Subsequently, the redeemable non-controlling interests should be carried at the higher of (1) the carrying amount after the attribution of net income or loss (2) the expected redemption value of Uxin Zhengzhou, respectively. The Group accretes for the difference between the initial carrying value and the ultimate redemption price to the earliest possible redemption date using the effective interest method. The accretion, which increases the carrying value of the redeemable non-controlling interests, is recorded against accumulated deficit. <p id="xdx_896_eus-gaap--RedeemableNoncontrollingInterestTableTextBlock_zVeh8uD6niIi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The change in the carrying amount of redeemable non-controlling interests for the fiscal year ended March 31, 2024, nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF REDEEMABLE NON-CONTROLLING INTEREST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable non-controlling interests</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Beginning balance at April 1, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pn3n3_c20230401__20240331_zigCad8cSm1l" style="text-align: right" title="Balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 80%; text-align: left">Issuance of redeemable non-controlling interests</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--MinorityInterestDecreaseFromRedemptions_pn3n3_c20230401__20240331_zSlrx06iewM3" style="width: 16%; text-align: right" title="Issuance of redeemable non-controlling interests">147,090</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accretion to redemption value of redeemable non-controlling interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--MinorityInterestChangeInRedemptionValue_pn3n3_c20230401__20240331_zipzW6NOb3ib" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion to redemption value of redeemable non-controlling interests">2,901</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance at March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pn3n3_c20240401__20241231_z9fK7CMxNFYk" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">149,991</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accretion to redemption value of redeemable non-controlling interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--MinorityInterestChangeInRedemptionValue_pn3n3_c20240401__20241231_zzLLU4xzCRKd" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion to redemption value of redeemable non-controlling interests">4,986</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pn3n3_c20250101__20251231_zgDwmBbqiRNf" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">154,977</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Issuance of redeemable non-controlling interests</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--MinorityInterestDecreaseFromRedemptions_pn3n3_c20250101__20251231_z6OlKy27vjI9" style="text-align: right" title="Issuance of redeemable non-controlling interests">211,047</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accretion to redemption value of redeemable non-controlling interests</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--MinorityInterestChangeInRedemptionValue_pn3n3_c20250101__20251231_zLwbtBK9R1Yb" style="text-align: right" title="Accretion to redemption value of redeemable non-controlling interests">14,833</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Minus: Subscription receivable from non-controlling interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--RedeemableNoncontrollingInterestEquityOtherRedemptionValue_iNI_pn3n3_di_c20251231_zjtF1RYVabFa" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion to redemption value of redeemable non-controlling interests">(44,800</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance at December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_pn3n3_c20250101__20251231_zl5G9heX9AUc" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">336,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

P10Y

147100000

127700000

0.1202

0.0840

0.0692

0.1202

0.0840

0.0692

0.1202

0.0840

0.0692

66700000

33300000

0.667 0.333

26000000.0

0.333

120000000.0

50000000.0

0.7059 0.2941

30000000.0

12500000

0.2941

<p id="xdx_896_eus-gaap--RedeemableNoncontrollingInterestTableTextBlock_zVeh8uD6niIi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The change in the carrying amount of redeemable non-controlling interests for the fiscal year ended March 31, 2024, nine months ended December 31, 2024 and the year ended December 31, 2025 was as follows: SCHEDULE OF REDEEMABLE NON-CONTROLLING INTEREST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable non-controlling interests</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Beginning balance at April 1, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pn3n3_c20230401__20240331_zigCad8cSm1l" style="text-align: right" title="Balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 80%; text-align: left">Issuance of redeemable non-controlling interests</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--MinorityInterestDecreaseFromRedemptions_pn3n3_c20230401__20240331_zSlrx06iewM3" style="width: 16%; text-align: right" title="Issuance of redeemable non-controlling interests">147,090</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accretion to redemption value of redeemable non-controlling interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--MinorityInterestChangeInRedemptionValue_pn3n3_c20230401__20240331_zipzW6NOb3ib" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion to redemption value of redeemable non-controlling interests">2,901</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance at March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pn3n3_c20240401__20241231_z9fK7CMxNFYk" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">149,991</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accretion to redemption value of redeemable non-controlling interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--MinorityInterestChangeInRedemptionValue_pn3n3_c20240401__20241231_zzLLU4xzCRKd" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion to redemption value of redeemable non-controlling interests">4,986</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance at December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_pn3n3_c20250101__20251231_zgDwmBbqiRNf" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">154,977</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Issuance of redeemable non-controlling interests</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--MinorityInterestDecreaseFromRedemptions_pn3n3_c20250101__20251231_z6OlKy27vjI9" style="text-align: right" title="Issuance of redeemable non-controlling interests">211,047</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accretion to redemption value of redeemable non-controlling interests</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--MinorityInterestChangeInRedemptionValue_pn3n3_c20250101__20251231_zLwbtBK9R1Yb" style="text-align: right" title="Accretion to redemption value of redeemable non-controlling interests">14,833</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Minus: Subscription receivable from non-controlling interests</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--RedeemableNoncontrollingInterestEquityOtherRedemptionValue_iNI_pn3n3_di_c20251231_zjtF1RYVabFa" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion to redemption value of redeemable non-controlling interests">(44,800</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Ending balance at December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_pn3n3_c20250101__20251231_zl5G9heX9AUc" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">336,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

147090000

2901000

149991000

4986000

154977000

211047000

14833000

44800000

336057000

<p id="xdx_80A_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zDGxvXhPN8I9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">16. ORDINARY SHARES As of December 31, 2024 and 2025, 190,100,000,000 and 190,100,000,000 ordinary shares had been authorized, respectively. A total of 64,933,147,436 ordinary shares, par value US$0.0001 per share, consists of 64,892,337,575 Class A ordinary shares (excluding 1,643,712,892 Class A ordinary shares issued to the Company’s depositary bank for bulk issuance of ADSs reserved for future issuances upon the exercise or vesting of awards granted under the Company’s share incentive plan) and 40,809,861 Class B ordinary shares, had been issued and outstanding as of December 31, 2025. A total of 56,395,662,999 ordinary shares, par value US$0.0001 per share, consists of 56,354,853,138 Class A ordinary shares (excluding 7,563,892 Class A ordinary shares issued to the Company’s depositary bank for bulk issuance of ADSs reserved for future issuances upon the exercise or vesting of awards granted under the Company’s share incentive plan) and 40,809,861 Class B ordinary shares, had been issued and outstanding as of December 31, 2024. Each Class B ordinary share was entitled to 10 votes, while each Class A ordinary shares was entitled to one vote. In June 2021, the Company entered into a supplemental agreement with 2024 Notes holders. Pursuant to the supplemental agreement, <span id="xdx_90E_ecustom--PercentageOfOutstandingNotesPrincipal_pid_dp_uPure_c20210601__20210630__us-gaap--DebtInstrumentAxis__custom--SupplementalAgreementWith2024NotesHoldersMember_zM3D1KHmh4yi" title="Percentage of outstanding principal">30% of the outstanding 2024 Notes principal amount would be converted into a total of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20210601__20210630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DebtInstrumentAxis__custom--SupplementalAgreementWith2024NotesHoldersMember_z2SYl7o0j2s7" title="Conversion of convertible notes">66,990,291 Class A ordinary shares at a price of US$<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_uUSDPShares_c20210630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DebtInstrumentAxis__custom--SupplementalAgreementWith2024NotesHoldersMember_zCIlczayHDL" title="Conversion price">1.03 per Class A ordinary share upon the first closing. On July 12, 2021, the aforementioned conversion was completed and a total of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20210712__20210712__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DebtInstrumentAxis__custom--SupplementalAgreementWith2024NotesHoldersMember_zB9XIQVDfM2c" title="Conversion of convertible notes">66,990,291 Class A ordinary shares were issued. In July 2022, the Company entered into a definitive agreement with 58.com, pursuant to which the Company issued <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20220701__20220731__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DebtInstrumentAxis__custom--Notes2024Member__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyEight.comMember_zSx1I6ooQ6Wi" title="Conversion of convertible notes">183,495,146 Class A ordinary shares with par value of US$<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20220731__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DebtInstrumentAxis__custom--Notes2024Member__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyEight.comMember_zIaSW5WZYckh" title="Ordinary shares par value">0.0001 per share to 58.com in exchange for the full release of the Company’s obligations under the 2024 Notes issued to 58.com amounting to US$<span id="xdx_90C_eus-gaap--ConvertibleNotesPayable_iI_pn5n6_uUSD_c20220731__us-gaap--DebtInstrumentAxis__custom--Notes2024Member__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyEight.comMember_zECOSKTvaXpg" title="Convertible notes">63.0 million on June 10, 2019. These shares were issued at a price equivalent to US$0.3433 per Class A ordinary share. In August 2022, the Company entered into a definitive agreement with ClearVue, pursuant to which the Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20220801__20220831__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DebtInstrumentAxis__custom--Notes2024Member__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ClearVueMember_zzmBZI0tV0zc" title="Conversion of convertible notes">36,699,029 Class A ordinary shares with par value of US$<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20220731__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DebtInstrumentAxis__custom--Notes2024Member__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FiftyEight.comMember_zbtviYyakEoj" title="Ordinary shares par value">0.0001 per share to ClearVue in exchange for the full release of the Company’s obligations under the 2024 Notes issued to ClearVue amounting to US$<span id="xdx_90F_eus-gaap--ConvertibleNotesPayable_iI_pn5n6_uUSD_c20220831__us-gaap--DebtInstrumentAxis__custom--Notes2024Member__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ClearVueMember_zWUp7WGZsTj2" title="Convertible notes">12.6 million on June 10, 2019. These shares were issued at a price equivalent to US$0.3433 per Class A ordinary share with a fair value of RMB<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_uRMB_c20220801__20220831__us-gaap--DebtInstrumentAxis__custom--Notes2024Member__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ClearVueMember_zSWXBYiEcmSj" title="Fair value of convertible notes payable">62.8 million. Effective October 28, 2022, the Company changed its ADS to Class A ordinary share ratio from each ADS representing three Class A ordinary shares to each ADS representing 30 Class A ordinary shares (“the ADS Ratio Change”). Effective on January 16, 2024, the Company further changed its ADS to Class A ordinary share ratio from each ADS representing 30 Class A ordinary shares to each ADS representing 300 Class A ordinary shares (the “Second ADS Ratio Change”). The ADS Ratio Change has been reflected retroactively herein. On March 27, 2024, as agreed by all the preferred shareholders, all of the Company’s 2,810,961,908 outstanding senior convertible preferred shares were converted into 54,960,889,255 Class A ordinary shares. Accordingly, subscription receivable of US$16.4 million due from one of the preferred shareholders before conversion reflected as a deduction from mezzanine equity was presented as subscriptions receivable, a contra-equity balance on the Consolidated Balance Sheets as of March 31, 2024. The subscription receivables amounting to US$<span id="xdx_901_eus-gaap--CommonStockShareSubscribedButUnissuedSubscriptionsReceivable_iI_pn5n6_uUSD_c20240531__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zv6ZbocYFtal" title="Subscription receivable"><span id="xdx_909_eus-gaap--CommonStockShareSubscribedButUnissuedSubscriptionsReceivable_iI_pn5n6_uUSD_c20240630__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zdGWvr7DHeO6" title="Subscription receivable"><span id="xdx_909_eus-gaap--CommonStockShareSubscribedButUnissuedSubscriptionsReceivable_iI_pn5n6_uUSD_c20240731__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_zSt4K3nfJH21" title="Subscription receivable">7.0 million were subsequently received in May, June and July 2024, and the remaining subscription receivables amounting to US$<span id="xdx_900_eus-gaap--CommonStockShareSubscribedButUnissuedSubscriptionsReceivable_iI_pn5n6_uUSD_c20250930__us-gaap--IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis__custom--NioCapitalMember_z8EBcFma4Zo4" title="Subscription receivable">9.4 million were received from NIO Capital in September 2025. In November 2024, the Company entered into a Share Subscription Agreement with Lightwind. Pursuant to this agreement and subject to the fulfilment of specified conditions, Lightwind agreed to purchase <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241101__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--LightwindGlobalLimitedMember_zoVocCgt6oG9" title="Number of shares issued">1,543,845,204 Class A Ordinary Shares of the Company with par value of US$<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--LightwindGlobalLimitedMember_zloI9MH69Fy3" title="Common stock, par value">0.0001 per share for a total consideration of US$<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20241101__20241130__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--LightwindGlobalLimitedMember_zbbwJ2p3sNV4" title="Number of shares issued, value">7.5 million. As of December 31, 2025, the Company had received US$<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--LightwindGlobalLimitedMember_zm94MTrJTbeh" title="Number of shares issued, value">7.5 million from Lightwind and issued <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--LightwindGlobalLimitedMember_z6GLOH2Av2Tg" title="Number of shares issued">1,543,845,204 Class A Ordinary Shares of the Company to Lightwind. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 16. ORDINARY SHARES (CONTINUED) In March 2025, the Company entered into a share subscription agreement with Fame Dragon Global, pursuant to which Fame Dragon Global agreed to purchase <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250301__20250331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--FameDragonGlobalMember_z6DxDfYTBP94" title="Number of shares issued">5,738,268,233 Class A Ordinary Shares of the Company with par value of US$<span id="xdx_906_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20250331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--FameDragonGlobalMember_zvdTnz7hxyXk" title="Common stock, par value">0.0001 per share for a total consideration of US$<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20250301__20250331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--FameDragonGlobalMember_zYwcNBwKmCg3" title="Number of shares issued, value">27.8 million. In substance, the Company issued a forward contract to Fame Dragon, as Fame Dragon is obligated to purchase the shares, and the Company is required to issue them upon the satisfaction of the closing conditions at the pre-agreed price and amount which shall be a deemed dividend to the forward contract holder recorded in the additional paid-in capital. In addition, given that this forward contract is considered indexed to the Company’s own stock and meet the requirement for equity classification, it was also classified under the Company’s equity and was initially measured at fair value amounting to RMB180.8 million with no subsequent remeasurement. As of December 31, 2025, the Company had received US$<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--FameDragonGlobalMember_zUAhKgXVTgYk" title="Number of shares issued, value">27.8 million from Fame Dragon Global and issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--FameDragonGlobalMember_zeh0v33iumck" title="Number of shares issued">5,738,268,233 Class A Ordinary Shares of the Company to Fame Dragon Global and entities designated by Fame Dragon Global. On December 18, 2025, the Company entered into a definitive agreement with Abundant Grace Investment Limited, an entity affiliated with Mr. Bin Li, a director of the Company. Pursuant to the definitive agreement, Abundant Grace Investment Limited agreed to purchase 1,200,000,000 Class A Ordinary Shares of the Company with par value of US$<span id="xdx_90C_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20251218__us-gaap--TypeOfArrangementAxis__custom--DefinitiveAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUhiX7ZJkNp2" title="Ordinary shares, par value">0.0001 per share at a price of US$<span id="xdx_902_eus-gaap--SharePrice_iI_c20251218__us-gaap--TypeOfArrangementAxis__custom--DefinitiveAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFKSJIfR8T2a" title="Share price">0.00833 per Class A Ordinary Share (equivalent to US$<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_c20251218__us-gaap--TypeOfArrangementAxis__custom--DefinitiveAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7gEroGH6DI2" title="Share price">2.5 per ADS) for a total consideration of US$<span id="xdx_902_eus-gaap--BusinessCombinationConsiderationTransferred1_pn6n6_uUSD_c20251218__20251218__us-gaap--TypeOfArrangementAxis__custom--DefinitiveAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z5rK3QgetqSb" title="Total consideration">10 million, which is expected to be paid in multiple installments. The closings of the subscriptions are subject to customary closing conditions. As of December 31, 2025, the Company received US$<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--AbundantGraceInvestmentLimitedMember_zbogkDFXw0ka" title="Number of shares issued, value">7.0 million from Abundant Grace Investment Limited and fully issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--AbundantGraceInvestmentLimitedMember_z2N6wOZQYRs2" title="Number of shares issued">1,200,000,000 Class A Ordinary Shares of the Company to Abundant Grace Investment Limited, with the remaining consideration receivable of US$<span id="xdx_90D_eus-gaap--BusinessCombinationConsiderationTransferred1_pn5n6_uUSD_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--DefinitiveAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--AbundantGraceInvestmentLimitedMember_zQEHkwEXwWHh" title="Total consideration">3.0 million due from Abundant Grace Investment Limited recorded in “Subscription receivable from shareholders”. On December 26, 2025, Uxin entered into definitive share subscription agreements with Abundant Glory Investment L.P.(affiliates of NIO Capital) and Prestige Shine Group Limited (controlled by Joy Capital). Pursuant to the definitive agreements, Abundant Glory Investment L.P. and Prestige Shine Group Limited agreed to purchase approximately 5,200,000,000 Class A ordinary shares of the Company with par value of US$<span id="xdx_90A_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20251226__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvAm2G8tKnV">0.0001 per share at a price of US$0.00953 per Class A ordinary share for a total consideration of US$<span id="xdx_907_eus-gaap--BusinessCombinationConsiderationTransferred1_pn6n6_uUSD_c20251226__20251226__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zIg96Puodx2l">50 million. In substance, the Company issued two forward contracts to Abundant Glory Investment L.P. and Prestige Shine Group Limited, as Abundant Glory Investment L.P. and Prestige Shine Group Limited are obligated to purchase the shares, and the Company is required to issue them upon the satisfaction of the closing conditions at the pre-agreed price and amount which shall be a deemed dividend to the forward contract holder recorded in the additional paid-in capital. In addition, given that these forward contracts are considered indexed to the Company’s own stock and meet the requirement for equity classification, these forward contracts were also classified under the Company’s equity and were initially measured at fair value amounting to US$4.5 million (equivalent to approximately RMB31.3 million) with no subsequent remeasurement. On April 1, 2026, the Company received US$<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_uUSD_c20260401__20260401__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--GoldWingsHoldingsLimitedMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z11Y92RcEaT1">10.0 million from Gold Wings Holdings Limited, a subscriber designated by Abundant Glory Investment L.P. for a portion of its investment, and issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260401__20260401__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__dei--LegalEntityAxis__custom--GoldWingsHoldingsLimitedMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zwpGQakOC7se">1,049,317,943 Class A ordinary shares to Gold Wings Holdings Limited. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

190100000000

64933147436

0.0001

64892337575

1643712892

40809861

56395662999

0.0001

56354853138

7563892

40809861

Each Class B ordinary share was entitled to 10 votes, while each Class A ordinary shares was entitled to one vote.

0.30

66990291

1.03

66990291

183495146

0.0001

63000000.0

0.3433

36699029

0.0001

12600000

0.3433

62800000

the Company changed its ADS to Class A ordinary share ratio from each ADS representing three Class A ordinary shares to each ADS representing 30 Class A ordinary shares (“the ADS Ratio Change”). Effective on January 16, 2024, the Company further changed its ADS to Class A ordinary share ratio from each ADS representing 30 Class A ordinary shares to each ADS representing 300 Class A ordinary shares (the “Second ADS Ratio Change”). The ADS Ratio Change has been reflected retroactively herein.

2810961908

54960889255

16400000

7000000.0

9400000

1543845204

0.0001

7500000

1543845204

5738268233

0.0001

27800000

180800000

27800000

5738268233

1200000000

0.0001

0.00833

2.5

10000000

7000000.0

1200000000

3000000.0

5200000000

0.0001

0.00953

50000000

10000000.0

1049317943

<p id="xdx_806_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zcFH6OjpzuWa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">17. SHARE-BASED COMPENSATION (a) Share options In 2018, the Company adopted 2018 Second Amended and Restated Incentive Plan (“2018 Second Plan”). The Company accounts for share-based compensation costs using a graded-vesting method over the requisite service period for the award based on the fair value on their respectively grant date. <p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zDbzDqjohJhj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth the share option activities for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025: SCHEDULE OF SHARE OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted-average exercise price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average remaining contractual term</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Aggregate intrinsic value</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average fair value of options</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">YEARS</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$’000</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; padding-bottom: 2.5pt">Outstanding as of March 31, 2023</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20230401__20240331_zDkrErDQyG7e" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Number of shares Outstanding, Balance">26,656,618</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20230401__20240331_zdFj1pveHN" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Weighted-average exercise price Outstanding, Balance">0.48</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220401__20230331_zKTnb7y0qoI6" title="Weighted average remaining contractual term">6.83</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp2n3_uUSD_c20230401__20240331_zqaxpWKyErq9" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Aggregate intrinsic value">9,585.96</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_uUSDPShares_c20230401__20240331_zvW0yVIMGOrd" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Weighted average fair value of options Outstanding, Balance">0.88</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230401__20240331_zRCdHRgpeSd3" style="text-align: right" title="Number of shares, Granted">22,064,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_uUSDPShares_c20230401__20240331_fKg_____zbJEGA0zTyU7" style="text-align: right" title="Weighted-average exercise price, Granted">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_z6zOASYLIIXj" style="text-align: right" title="Weighted average fair value of options, Granted">0.04</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20230401__20240331_zzVKB46x4k1c" style="text-align: right" title="Number of shares, Forfeited">(4,522,500</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230401__20240331_zgyrhXob5562" style="text-align: right" title="Weighted-average exercise price, Forfeited">0.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_zAdK0iaD6zth" style="text-align: right" title="Weighted average fair value of options, Forfeited">1.81</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20230401__20240331_zy9IPBXf4U84" style="text-align: right" title="Number of shares, Exercised">(6,880,590</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230401__20240331_zZQL4DWHrO27" style="text-align: right" title="Weighted-average exercise price, Exercised">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_zr1vx1V6mDra" style="text-align: right" title="Weighted average fair value of options, Exercised">0.11</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240401__20241231_zsYFntod1CXe" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Outstanding, Balance">37,318,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20240401__20241231_zFnGDPdB58x2" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average exercise price Outstanding, Balance">0.24</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230401__20240331_za0arbp86a1g" title="Weighted average remaining contractual term">7.67</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp2n3_uUSD_c20240401__20241231_zcXLqfjRzRYb" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value">8,898.37</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_uUSDPShares_c20240401__20241231_zZj5VbiFtNo2" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value of options Outstanding, Balance">0.44</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20241231_zvhhCiI2Xcgf" style="text-align: right" title="Number of shares, Granted">10,544,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_uUSDPShares_c20240401__20241231_fKg_____zHM4sLa4QhEl" style="text-align: right" title="Weighted-average exercise price, Granted">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zY9CMqAOsSJ5" style="text-align: right" title="Weighted average fair value of options, Granted">0.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240401__20241231_zMfWDeHY3H9f" style="text-align: right" title="Number of shares, Forfeited">(2,078,339</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240401__20241231_z5gmZuLtRjL3" style="text-align: right" title="Weighted-average exercise price, Forfeited">0.90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zCRXYNHf58Q2" style="text-align: right" title="Weighted average fair value of options, Forfeited">1.68</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20240401__20241231_zJiqjI7x5kqj" style="text-align: right" title="Number of shares, Exercised">(14,181,600</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240401__20241231_fKg_____zSFxKuUZM5kk" style="text-align: right" title="Weighted-average exercise price, Exercised">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zwNbvrKs0o43" style="text-align: right" title="Weighted average fair value of options, Exercised">0.04</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20251231_zHjzmGPzVHj7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Outstanding, Balance">31,602,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20250101__20251231_zshRHpPEfwR6" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average exercise price Outstanding, Balance">0.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20241231_zmjByP5uzIjb" title="Weighted average remaining contractual term">3.60</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp2n3_uUSD_c20250101__20251231_zSP10kO8gK2l" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value">14,336.67</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_uUSDPShares_c20250101__20251231_zOaPZPWLyxWc" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value of options Outstanding, Balance">0.38</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231_zIjyVDok8eSe" style="text-align: right" title="Number of shares, Granted">215,822,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_uUSDPShares_c20250101__20251231_fKg_____zYKF5xGhWb7a" style="text-align: right" title="Weighted-average exercise price, Granted">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_zw2W3cHdEqE7" style="text-align: right" title="Weighted average fair value of options, Granted">0.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20251231_zhEx8lCRHXkd" style="text-align: right" title="Number of shares, Forfeited">(6,758,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20251231_zM1fyh05I8K1" style="text-align: right" title="Weighted-average exercise price, Forfeited">0.07</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_z5e3QGDAH7sg" style="text-align: right" title="Weighted average fair value of options, Forfeited">0.15</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20250101__20251231_zzvuVw0iAQwe" style="text-align: right" title="Number of shares, Exercised">(170,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20251231_fKg_____zDAMlMIR1Zd8" style="text-align: right" title="Weighted-average exercise price, Exercised">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_zjdemDEZaVU8" style="text-align: right" title="Weighted average fair value of options, Exercised">0.14</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Outstanding as of December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20251231_zGrl1ED3mPQi" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares Outstanding, Balance">240,496,200</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20250101__20251231_zO6WCX13bo7b" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-average exercise price Outstanding, Balance">0.02</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zL2yZv0OfPPk" title="Weighted average remaining contractual term">2.61</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp2n3_uUSD_c20250101__20251231_zIQSK92CDxq6" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate intrinsic value">2,604.33</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_uUSDPShares_c20250101__20251231_zTjVAYflEJRa" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value of options Outstanding, Balance">0.05</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Vested and expected to vest as of December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iI_pid_c20251231_zmghSCn0RrJd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares,, Vested and expected to vest">240,496,200</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iI_pid_uUSDPShares_c20251231_z7lSegQAYDyc" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-average exercise price outstanding, Vested and expected to vest">0.02</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zkyEBWqnnpNl" title="Weighted average remaining contractual term vested and expected to vest">2.61</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pp2n3_uUSD_c20250101__20251231_zPne8UlJSnX4" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate intrinsic value, Vested and expected to vest">2,604.33</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--WeightedAverageFairValueOfOptionsVestedAndExpectedToVest_iI_pid_uUSDPShares_c20251231_zrGRkUjVuKFk" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value of options, Vested and expected to vest">0.05</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable as of December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_iI_pid_c20251231_zdWD6bbxLYll" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Exercisable">31,853,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iI_pid_uUSDPShares_c20251231_zgAuBH3GkuVb" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average exercise price outstanding, Exercisable">0.12</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zcuGBheJU5Ef" title="Weighted average remaining contractual term exercisable">2.43</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iE_pp2n3_uUSD_c20250101__20251231_zqlPBNQVs6N9" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value exercisable">262.67</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_ecustom--WeightedAverageFairValueOfOptionsExercisable_iI_pid_uUSDPShares_c20251231_zgfL7CBti1vc" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value of options, Exercisable">0.36</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify">Less than 0.01.</td> </tr></table> As the granted option exercise prices were equal or close to nominal prices during the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, their fair values approximated the fair values of the Class A ordinary share on the grant day. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 17. SHARE-BASED COMPENSATION (CONTINUED) (b) Restricted shares <p id="xdx_895_eus-gaap--NonvestedRestrictedStockSharesActivityTableTextBlock_zUN7k6CeMMNl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth the restricted share activity for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025: SCHEDULE OF RESTRICTED SHARE ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: center">Weighted average grant date fair value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as of March 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td colspan="2" id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20230401__20240331_z3Dqrygd3mr3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Unvested, Balance">-</td><td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td colspan="2" id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_uUSDPShares_c20230401__20240331_z0XzDbLZYIV7" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average grant date fair value Unvested, Balance">-</td><td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20230401__20240331_zxQH4CBYweeg" style="width: 14%; text-align: right" title="Number of shares, Granted">2,871,270</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_zttCFbMLiZl4" style="width: 14%; text-align: right" title="Weighted average grant date fair value, Granted">0.05</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20230401__20240331_zisrGjq8Ddxh" style="text-align: right" title="Number of shares, Vested">(2,871,270</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_zv8LAKneV7S" style="text-align: right" title="Weighted average grant date fair value, Vested">0.05</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Unvested as of March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240401__20241231_za07GkT1uMO9" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_uUSDPShares_c20240401__20241231_zdGEbOdr66p5" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average grant date fair value Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240401__20241231_zncrpsi3YQ7h" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zib8EMPclHo9" style="text-align: right" title="Weighted average grant date fair value, Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20240401__20241231_zqXwZPIrovvf" style="text-align: right" title="Number of shares, Vested">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zGMv7caAgScc" style="text-align: right" title="Weighted average grant date fair value, Vested">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as of December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231_zVX2RPwU8Uo1" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_uUSDPShares_c20250101__20251231_zexgIsHQ2JRd" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average grant date fair value Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20250101__20251231_zLIHNDO5NpB6" style="text-align: right" title="Number of shares, Granted">55,200,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_zmFqJBhwzpIa" style="text-align: right" title="Weighted average grant date fair value, Granted">0.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20250101__20251231_zKy6E7pE2KZ6" style="text-align: right" title="Number of shares, Vested">(55,200,600</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_zrIiySo3Rw9f" style="text-align: right" title="Weighted average grant date fair value, Vested">0.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Unvested as of December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231_z3Tm8aVXUOuh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_uUSDPShares_c20250101__20251231_z9xihIt3Oq6d" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average grant date fair value Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 17. SHARE-BASED COMPENSATION (CONTINUED) (c) Performance Awards In December 2021, the Company issued certain restricted share units with market conditions to certain management (“Performance Awards”). The market conditions are satisfied upon the Company’s achievement of a certain specified market capitalization subject to continuous employment of each recipient. Total numbers of shares to be granted would be a certain percentage of issued and outstanding shares on a fully diluted basis as of the date when the market conditions are fulfilled. The amount of share-based compensation recorded will vary depending on the Company’s attainment of performance-targets and amortized during the requisite service period. In October 2023 and August 2024, the Company modified the market conditions under the Performance Awards, resulting into an incremental fair value of RMB<span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn5n6_uRMB_c20231001__20231031__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zRumSoKtgPO4" title="Share based compensation incremental fair value">60.4 million and RMB<span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn5n6_uRMB_c20240801__20240831__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zGVsX15muMZ3" title="Share based compensation incremental fair value">73.7 million, respectively. The Company will recognize compensation cost equal to the unrecognized grant-date fair value of the original award plus the incremental fair value arising from the modification over the remaining requisite service period unless the respective market condition was actually met. In October 2024, the market condition of the first tranche was satisfied, which is earlier than the initial estimation, and all remaining unrecognized fair value of the award relating to the first tranche was recognized immediately when the respective market condition was actually met. As of December 31, 2025, the shares relating to the first tranche of the Performance Awards had not yet been issued (“Unissued shares relating to the Performance Awards”). For the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, RMB<span id="xdx_908_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_uRMB_c20230401__20240331__custom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeExpensesMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zUsYvK9DMrN5" title="Share-based compensation expense">39.2 million, RMB<span id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_uRMB_c20240401__20241231__custom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeExpensesMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zW5VvuvZf6db" title="Share-based compensation expense">84.3 million and RMB<span id="xdx_904_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_uRMB_c20250101__20251231__custom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeExpensesMember__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_z0yUElJJcmHl" title="Share-based compensation expense">28.3 million related to Performance Awards was recorded in general and administrative expenses. As of December 31, 2025, total amount of unrecognized expense related to the Performance Awards was RMB<span id="xdx_905_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_pn5n6_uRMB_c20251231__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zjxW9G9jPFmk" title="Unrecognized compensation costs">45.5 million. (d) Share-based compensation to Mr. Kun Dai Please refer to Note 14 for the details of share-based compensation to Mr. Kun Dai. (e) Share-based compensation expenses by function <p id="xdx_890_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zwGh2PeB700a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth the amounts of share-based compensation expense included in each of the relevant financial statement line items: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSES BY FUNCTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230401__20240331_z8sze2MPnQ66" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240401__20241231_zHCSxLhNryuj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20251231_zaOovHHczwHh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_uRMB_hcustom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeExpensesMember_zAMWyO605aQc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">General and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">72,942</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">84,663</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">36,780</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_uRMB_hcustom--StatementOfIncomeLocationBalanceAxis__custom--ResearchAndDevelopmentExpensesMember_zQEpAx9Afwr1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_uRMB_hcustom--StatementOfIncomeLocationBalanceAxis__custom--SellingAndMarketingExpensesMember_zfpWiBmZFExa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Sales and marketing expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,444</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,312</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_uRMB_zDnuXz0l0Z9c" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">75,806</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">84,927</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">44,583</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zDbzDqjohJhj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth the share option activities for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025: SCHEDULE OF SHARE OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted-average exercise price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average remaining contractual term</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Aggregate intrinsic value</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted average fair value of options</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">YEARS</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$’000</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; padding-bottom: 2.5pt">Outstanding as of March 31, 2023</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20230401__20240331_zDkrErDQyG7e" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Number of shares Outstanding, Balance">26,656,618</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20230401__20240331_zdFj1pveHN" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Weighted-average exercise price Outstanding, Balance">0.48</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220401__20230331_zKTnb7y0qoI6" title="Weighted average remaining contractual term">6.83</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp2n3_uUSD_c20230401__20240331_zqaxpWKyErq9" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Aggregate intrinsic value">9,585.96</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_uUSDPShares_c20230401__20240331_zvW0yVIMGOrd" style="border-bottom: Black 2.5pt double; width: 10%; text-align: right" title="Weighted average fair value of options Outstanding, Balance">0.88</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20230401__20240331_zRCdHRgpeSd3" style="text-align: right" title="Number of shares, Granted">22,064,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_uUSDPShares_c20230401__20240331_fKg_____zbJEGA0zTyU7" style="text-align: right" title="Weighted-average exercise price, Granted">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_z6zOASYLIIXj" style="text-align: right" title="Weighted average fair value of options, Granted">0.04</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20230401__20240331_zzVKB46x4k1c" style="text-align: right" title="Number of shares, Forfeited">(4,522,500</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230401__20240331_zgyrhXob5562" style="text-align: right" title="Weighted-average exercise price, Forfeited">0.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_zAdK0iaD6zth" style="text-align: right" title="Weighted average fair value of options, Forfeited">1.81</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20230401__20240331_zy9IPBXf4U84" style="text-align: right" title="Number of shares, Exercised">(6,880,590</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230401__20240331_zZQL4DWHrO27" style="text-align: right" title="Weighted-average exercise price, Exercised">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_zr1vx1V6mDra" style="text-align: right" title="Weighted average fair value of options, Exercised">0.11</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240401__20241231_zsYFntod1CXe" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Outstanding, Balance">37,318,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20240401__20241231_zFnGDPdB58x2" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average exercise price Outstanding, Balance">0.24</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230401__20240331_za0arbp86a1g" title="Weighted average remaining contractual term">7.67</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp2n3_uUSD_c20240401__20241231_zcXLqfjRzRYb" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value">8,898.37</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_uUSDPShares_c20240401__20241231_zZj5VbiFtNo2" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value of options Outstanding, Balance">0.44</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20241231_zvhhCiI2Xcgf" style="text-align: right" title="Number of shares, Granted">10,544,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_uUSDPShares_c20240401__20241231_fKg_____zHM4sLa4QhEl" style="text-align: right" title="Weighted-average exercise price, Granted">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zY9CMqAOsSJ5" style="text-align: right" title="Weighted average fair value of options, Granted">0.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240401__20241231_zMfWDeHY3H9f" style="text-align: right" title="Number of shares, Forfeited">(2,078,339</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240401__20241231_z5gmZuLtRjL3" style="text-align: right" title="Weighted-average exercise price, Forfeited">0.90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zCRXYNHf58Q2" style="text-align: right" title="Weighted average fair value of options, Forfeited">1.68</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20240401__20241231_zJiqjI7x5kqj" style="text-align: right" title="Number of shares, Exercised">(14,181,600</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240401__20241231_fKg_____zSFxKuUZM5kk" style="text-align: right" title="Weighted-average exercise price, Exercised">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zwNbvrKs0o43" style="text-align: right" title="Weighted average fair value of options, Exercised">0.04</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250101__20251231_zHjzmGPzVHj7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Outstanding, Balance">31,602,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20250101__20251231_zshRHpPEfwR6" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average exercise price Outstanding, Balance">0.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20241231_zmjByP5uzIjb" title="Weighted average remaining contractual term">3.60</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp2n3_uUSD_c20250101__20251231_zSP10kO8gK2l" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value">14,336.67</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_uUSDPShares_c20250101__20251231_zOaPZPWLyxWc" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value of options Outstanding, Balance">0.38</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250101__20251231_zIjyVDok8eSe" style="text-align: right" title="Number of shares, Granted">215,822,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_uUSDPShares_c20250101__20251231_fKg_____zYKF5xGhWb7a" style="text-align: right" title="Weighted-average exercise price, Granted">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_zw2W3cHdEqE7" style="text-align: right" title="Weighted average fair value of options, Granted">0.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250101__20251231_zhEx8lCRHXkd" style="text-align: right" title="Number of shares, Forfeited">(6,758,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20251231_zM1fyh05I8K1" style="text-align: right" title="Weighted-average exercise price, Forfeited">0.07</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_z5e3QGDAH7sg" style="text-align: right" title="Weighted average fair value of options, Forfeited">0.15</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20250101__20251231_zzvuVw0iAQwe" style="text-align: right" title="Number of shares, Exercised">(170,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20250101__20251231_fKg_____zDAMlMIR1Zd8" style="text-align: right" title="Weighted-average exercise price, Exercised">-*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_zjdemDEZaVU8" style="text-align: right" title="Weighted average fair value of options, Exercised">0.14</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Outstanding as of December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250101__20251231_zGrl1ED3mPQi" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares Outstanding, Balance">240,496,200</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20250101__20251231_zO6WCX13bo7b" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-average exercise price Outstanding, Balance">0.02</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zL2yZv0OfPPk" title="Weighted average remaining contractual term">2.61</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp2n3_uUSD_c20250101__20251231_zIQSK92CDxq6" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate intrinsic value">2,604.33</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_uUSDPShares_c20250101__20251231_zTjVAYflEJRa" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value of options Outstanding, Balance">0.05</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Vested and expected to vest as of December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iI_pid_c20251231_zmghSCn0RrJd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares,, Vested and expected to vest">240,496,200</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iI_pid_uUSDPShares_c20251231_z7lSegQAYDyc" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-average exercise price outstanding, Vested and expected to vest">0.02</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zkyEBWqnnpNl" title="Weighted average remaining contractual term vested and expected to vest">2.61</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pp2n3_uUSD_c20250101__20251231_zPne8UlJSnX4" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate intrinsic value, Vested and expected to vest">2,604.33</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--WeightedAverageFairValueOfOptionsVestedAndExpectedToVest_iI_pid_uUSDPShares_c20251231_zrGRkUjVuKFk" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average fair value of options, Vested and expected to vest">0.05</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable as of December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_iI_pid_c20251231_zdWD6bbxLYll" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Exercisable">31,853,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iI_pid_uUSDPShares_c20251231_zgAuBH3GkuVb" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average exercise price outstanding, Exercisable">0.12</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zcuGBheJU5Ef" title="Weighted average remaining contractual term exercisable">2.43</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iE_pp2n3_uUSD_c20250101__20251231_zqlPBNQVs6N9" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value exercisable">262.67</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_ecustom--WeightedAverageFairValueOfOptionsExercisable_iI_pid_uUSDPShares_c20251231_zgfL7CBti1vc" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average fair value of options, Exercisable">0.36</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify">Less than 0.01.</td> </tr></table>

26656618

0.48

P6Y9M29D

9585960

0.88

22064611

-0

0.04

4522500

0.86

1.81

6880590

-0

0.11

37318139

0.24

P7Y8M1D

8898370

0.44

10544400

-0

0.01

2078339

0.90

1.68

14181600

-0

0.04

31602600

0.21

P3Y7M6D

14336670

0.38

215822400

-0

0.01

6758400

0.07

0.15

170400

-0

0.14

240496200

0.02

P2Y7M9D

2604330

0.05

240496200

0.02

P2Y7M9D

2604330

0.05

31853700

0.12

P2Y5M4D

262670

0.36

<p id="xdx_895_eus-gaap--NonvestedRestrictedStockSharesActivityTableTextBlock_zUN7k6CeMMNl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth the restricted share activity for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025: SCHEDULE OF RESTRICTED SHARE ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; padding-bottom: 1pt; text-align: center">Weighted average grant date fair value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as of March 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td colspan="2" id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20230401__20240331_z3Dqrygd3mr3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Unvested, Balance">-</td><td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td colspan="2" id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_uUSDPShares_c20230401__20240331_z0XzDbLZYIV7" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average grant date fair value Unvested, Balance">-</td><td style="padding-bottom: 2.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20230401__20240331_zxQH4CBYweeg" style="width: 14%; text-align: right" title="Number of shares, Granted">2,871,270</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_zttCFbMLiZl4" style="width: 14%; text-align: right" title="Weighted average grant date fair value, Granted">0.05</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20230401__20240331_zisrGjq8Ddxh" style="text-align: right" title="Number of shares, Vested">(2,871,270</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230401__20240331_zv8LAKneV7S" style="text-align: right" title="Weighted average grant date fair value, Vested">0.05</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Unvested as of March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240401__20241231_za07GkT1uMO9" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_uUSDPShares_c20240401__20241231_zdGEbOdr66p5" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average grant date fair value Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240401__20241231_zncrpsi3YQ7h" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zib8EMPclHo9" style="text-align: right" title="Weighted average grant date fair value, Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20240401__20241231_zqXwZPIrovvf" style="text-align: right" title="Number of shares, Vested">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240401__20241231_zGMv7caAgScc" style="text-align: right" title="Weighted average grant date fair value, Vested">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as of December 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231_zVX2RPwU8Uo1" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_uUSDPShares_c20250101__20251231_zexgIsHQ2JRd" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average grant date fair value Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20250101__20251231_zLIHNDO5NpB6" style="text-align: right" title="Number of shares, Granted">55,200,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_zmFqJBhwzpIa" style="text-align: right" title="Weighted average grant date fair value, Granted">0.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20250101__20251231_zKy6E7pE2KZ6" style="text-align: right" title="Number of shares, Vested">(55,200,600</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20250101__20251231_zrIiySo3Rw9f" style="text-align: right" title="Weighted average grant date fair value, Vested">0.01</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Unvested as of December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231_z3Tm8aVXUOuh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_uUSDPShares_c20250101__20251231_z9xihIt3Oq6d" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average grant date fair value Unvested, Balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2871270

0.05

2871270

0.05

55200600

0.01

55200600

0.01

60400000

73700000

39200000

84300000

28300000

45500000

<p id="xdx_890_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zwGh2PeB700a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">The following table sets forth the amounts of share-based compensation expense included in each of the relevant financial statement line items: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSES BY FUNCTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230401__20240331_z8sze2MPnQ66" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20240401__20241231_zHCSxLhNryuj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20251231_zaOovHHczwHh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_uRMB_hcustom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeExpensesMember_zAMWyO605aQc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">General and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">72,942</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">84,663</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">36,780</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_uRMB_hcustom--StatementOfIncomeLocationBalanceAxis__custom--ResearchAndDevelopmentExpensesMember_zQEpAx9Afwr1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_uRMB_hcustom--StatementOfIncomeLocationBalanceAxis__custom--SellingAndMarketingExpensesMember_zfpWiBmZFExa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Sales and marketing expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,444</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">136</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,312</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_uRMB_zDnuXz0l0Z9c" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">75,806</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">84,927</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">44,583</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

72942000

84663000

36780000

1420000

128000

2491000

1444000

136000

5312000

75806000

84927000

44583000

<p id="xdx_80E_eus-gaap--SegmentReportingDisclosureTextBlock_zeVfJIU5pM43" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">18. 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 accounting policies of the single segment are the same as described in the significant accounting policies. The CODM assesses performance for the single segment and decides how to allocate resources based on net loss that also is reported on the Consolidated Statements of Comprehensive Loss as consolidated net loss. The CODM reviews revenues and expenses at the consolidated level as disclosed in the Group’s Consolidated Statements of Comprehensive Loss and uses net loss to evaluate return on assets and to monitor budget versus actual results and in competitive analysis by benchmarking to the Group’s competitors. 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.

<p id="xdx_805_eus-gaap--FairValueDisclosuresTextBlock_zqOJ6VwPMUHf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">19. FAIR VALUE MEASUREMENTS Assets measured at fair value on a nonrecurring basis The Company measures its property and equipment and, intangible assets at fair value on a nonrecurring basis whenever events or changes in circumstances indicate that the carrying value may no longer be recoverable. Equity investments without readily determinable fair value are recorded at fair value only if an impairment or observable price adjustment is recognized in the current period. The Company classified these assets as Level 3 within the fair value hierarchy based on the nature of the fair value inputs. The Company measured on a non-recurring basis for the fair values associated with the down round feature triggered for the senior convertible preferred shares issued pursuant to 2021 Subscription Agreement and 2022 Subscription Agreement. These valuations resulted in a deemed dividend of RMB755.6 million, RMB278.8 million and RMB1,781.5 million being distributed to the Company’s preferred shareholders as of July 27, 2022, August 17, 2023 and March 26, 2024 (Note 14), respectively. The Company also measured on a non-recurring basis for the incremental fair value due to modifications of RSU with market condition in October 2023 and August 2024, and these valuations resulted in an incremental fair value of RMB<span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn5n6_uRMB_c20231001__20231031__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zbH0mqxqgeKj" title="RSU incremental fair value">60.4 million, RMB<span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn5n6_uRMB_c20240801__20240831__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zOImKicgcFJc" title="RSU incremental fair value">73.7 million and <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_dxL_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember_zcL7wa5hU1xj" title="RSU incremental fair value::XDX::-">nil (Note 17) for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively. Assets and liabilities measured at fair value on a recurring basis The Company measures its warrant liabilities and forward contracts at fair value on a recurring basis. As the Company’s warrant liabilities and forward contracts are not traded in an active market with readily observable prices, the Company uses significant unobservable inputs to measure the fair value of warrant liabilities and forward contracts. 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 <span id="xdx_90B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3_do_c20250101__20251231_zUgPHp4QJPmi" title="Assets measured at fair value on a recurring basis, transfers into level 3"><span id="xdx_90D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_do_c20250101__20251231_ztFDdThCoVRb" title="Assets measured at fair value on a recurring basis, transfers out of level 3"><span id="xdx_90D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3_do_c20250101__20251231_zLmosq0D17v2" title="Liabilities measured at fair value on a recurring basis, transfers into level 3"><span id="xdx_903_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3_do_c20250101__20251231_zodWkXNqn4nk" title="Liabilities measured at fair value on a recurring basis, transfers out of level 3">not transfer any assets or liabilities in or out of Level 3 during the year ended December 31, 2025. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

755600000

278800000

1781500000

60400000

73700000

<p id="xdx_80A_eus-gaap--EarningsPerShareTextBlock_zUMz8PZg3F1h" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">20. NET LOSS PER SHARE <p id="xdx_897_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zGiBJUz4lJC8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Basic and diluted net loss per share for each of the periods presented are calculated as follows: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230401__20240331_z8trx5W0grj6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240401__20241231_ze6d8S2RCj38" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20251231_zHqyzXYHBK05" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareBasicAbstract_iB_zjKKW0kOV5m9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Basic net loss per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--NetIncomeLossAvailableToCommonStockholdersOperationsBasicAbstract_i01B_zBDwc6VOksuk" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--NetIncomeLossAttributableToParent_i02_pn3n3_z6ejv1KSyMv4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Net loss attributable to Uxin Limited</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(372,387</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(204,312</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(277,540</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PreferredStockDividendsAndOtherAdjustments_i02_pn3n3_zPPac4Dudwfa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deemed dividend to preferred shareholders due to triggering of a down round feature</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,060,254</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i02_pn3n3_z521UQyHz2Pi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net loss attributable to ordinary shareholders</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,432,641</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,312</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(277,540</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasicAbstract_i01B_zfVZW3PTITC6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--NumberOfOrdinarySharesOutstanding_i02_pid_zgQP4BYuEW13" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Number of ordinary shares outstanding at the beginning of the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410,826,415</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,381,481,399</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,395,662,999</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_i02_pid_zbptTFzmOf16" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average number of ordinary shares issued</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">754,367,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,137,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,906,843,295</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--WeightedAverageNumberOfVestedPennyOptions_i02_pid_zC28griMYYW6" style="vertical-align: bottom; background-color: White"> <td>Weighted average number of vested penny options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,169,250</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,241,834</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,577,368</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--WeightedAverageNumberOfUnissuedSharesRelatingToThePerformanceAwards_i02_pid_zbfSMpY5IwCa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Weighted average number of unissued shares relating to the Performance Awards (Note 17)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">327,882,355</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,431,232,500</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i02_pid_zOHAnN4HGR69" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average number of ordinary shares outstanding - basic</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,185,363,635</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56,744,742,647</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,756,316,162</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareBasic_i02_pid_zc0H40JIUVy7" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Net loss per share attributable to ordinary shareholders, basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.11</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--EarningsPerShareDilutedAbstract_iB_zWvMMtiV5j7" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Diluted net loss per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDilutedAbstract_i01B_zDYQHEZZkTdk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_i02_pn3n3_zzcamyYFFU46" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Diluted net loss attributable to ordinary shareholders</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,432,641</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,312</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(277,540</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--WeightedAverageNumberOfSharesOutstandingAbstract_i01B_zJfQNV3OvtO1" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i02_pid_zsYXXetii67f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Weighted average number of ordinary shares outstanding – diluted</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,185,363,635</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56,744,742,647</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,756,316,162</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareDiluted_i02_pid_zoeJ0t6KQ7a6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net loss per share attributable to ordinary shareholders, diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.11</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 20. NET LOSS PER SHARE (CONTINUED) As the Group incurred losses for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, the potential ordinary shares were anti-dilutive and excluded from the calculation of diluted net loss per share of the Group. The weighted-average numbers of unissued shares relating to the Performance Awards, senior convertible preferred shares, options granted and forward issued excluded from the calculation of diluted net loss per share of the Group of the respective periods were as follows: <p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z9A7GXxegpOc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"> SCHEDULE OF POTENTIAL ORDINARY SHARES THAT ARE ANTI-DILUTIVE AND EXCLUDED FROM THE CALCULATION OF DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230401__20240331_z04GryL4L6qb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240401__20241231_zNtLCwUAlXA6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zjYZM3fI2WO8" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PerformanceSharesMember_zOx3SPAJ25q5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Unissued shares relating to the Performance Awards (Note 17)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">594,838,632</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ForwardContractsMember_zQGL13FFS6i9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Forward contract</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216,847,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">964,746,183</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeniorConvertiblePreferredStockMember_ztE9Gxe1J3nl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Senior convertible preferred shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,288,858,108</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_z6cF0FMQX9Kk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Outstanding weighted average share options</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,605,459</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,937,549</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28,071,729</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zpK36fpGMgal" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,302,463,567</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">821,623,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">992,817,912</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zM0qbpvOTnX" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Anti-dilutive securities excluded from the calculation of diluted net loss per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,302,463,567</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">821,623,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">992,817,912</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_897_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zGiBJUz4lJC8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Basic and diluted net loss per share for each of the periods presented are calculated as follows: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230401__20240331_z8trx5W0grj6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240401__20241231_ze6d8S2RCj38" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20251231_zHqyzXYHBK05" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareBasicAbstract_iB_zjKKW0kOV5m9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Basic net loss per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--NetIncomeLossAvailableToCommonStockholdersOperationsBasicAbstract_i01B_zBDwc6VOksuk" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--NetIncomeLossAttributableToParent_i02_pn3n3_z6ejv1KSyMv4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Net loss attributable to Uxin Limited</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(372,387</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(204,312</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(277,540</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PreferredStockDividendsAndOtherAdjustments_i02_pn3n3_zPPac4Dudwfa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deemed dividend to preferred shareholders due to triggering of a down round feature</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,060,254</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i02_pn3n3_z521UQyHz2Pi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net loss attributable to ordinary shareholders</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,432,641</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,312</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(277,540</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasicAbstract_i01B_zfVZW3PTITC6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--NumberOfOrdinarySharesOutstanding_i02_pid_zgQP4BYuEW13" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Number of ordinary shares outstanding at the beginning of the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,410,826,415</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,381,481,399</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,395,662,999</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_i02_pid_zbptTFzmOf16" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average number of ordinary shares issued</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">754,367,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,137,059</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,906,843,295</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--WeightedAverageNumberOfVestedPennyOptions_i02_pid_zC28griMYYW6" style="vertical-align: bottom; background-color: White"> <td>Weighted average number of vested penny options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,169,250</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,241,834</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,577,368</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--WeightedAverageNumberOfUnissuedSharesRelatingToThePerformanceAwards_i02_pid_zbfSMpY5IwCa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Weighted average number of unissued shares relating to the Performance Awards (Note 17)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">327,882,355</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,431,232,500</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i02_pid_zOHAnN4HGR69" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average number of ordinary shares outstanding - basic</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,185,363,635</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56,744,742,647</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,756,316,162</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareBasic_i02_pid_zc0H40JIUVy7" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Net loss per share attributable to ordinary shareholders, basic</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.11</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--EarningsPerShareDilutedAbstract_iB_zWvMMtiV5j7" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Diluted net loss per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDilutedAbstract_i01B_zDYQHEZZkTdk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_i02_pn3n3_zzcamyYFFU46" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Diluted net loss attributable to ordinary shareholders</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,432,641</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,312</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(277,540</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--WeightedAverageNumberOfSharesOutstandingAbstract_i01B_zJfQNV3OvtO1" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i02_pid_zsYXXetii67f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Weighted average number of ordinary shares outstanding – diluted</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,185,363,635</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56,744,742,647</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,756,316,162</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareDiluted_i02_pid_zoeJ0t6KQ7a6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net loss per share attributable to ordinary shareholders, diluted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1.11</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td></tr> </table>

-372387000 -204312000 -277540000

-2060254000

-2432641000

-204312000

-277540000

1410826415 56381481399 56395662999

754367970

6137059

4906843295

20169250 29241834 22577368 327882355 1431232500

2185363635

56744742647

62756316162

-1.11

-0.00

-2432641000

-204312000

-277540000

2185363635

56744742647

62756316162

-1.11

-0.00

<p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z9A7GXxegpOc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"> SCHEDULE OF POTENTIAL ORDINARY SHARES THAT ARE ANTI-DILUTIVE AND EXCLUDED FROM THE CALCULATION OF DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230401__20240331_z04GryL4L6qb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240401__20241231_zNtLCwUAlXA6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zjYZM3fI2WO8" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PerformanceSharesMember_zOx3SPAJ25q5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Unissued shares relating to the Performance Awards (Note 17)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">594,838,632</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ForwardContractsMember_zQGL13FFS6i9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Forward contract</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216,847,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">964,746,183</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeniorConvertiblePreferredStockMember_ztE9Gxe1J3nl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Senior convertible preferred shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,288,858,108</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_z6cF0FMQX9Kk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Outstanding weighted average share options</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,605,459</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,937,549</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28,071,729</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zpK36fpGMgal" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,302,463,567</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">821,623,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">992,817,912</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zM0qbpvOTnX" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Anti-dilutive securities excluded from the calculation of diluted net loss per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,302,463,567</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">821,623,917</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">992,817,912</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

594838632

216847736

964746183

1288858108

13605459

9937549

28071729

1302463567

821623917

992817912

1302463567

821623917

992817912

<p id="xdx_80A_eus-gaap--CompensationAndEmployeeBenefitPlansTextBlock_z9jvf7UtxCBe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">21. EMPLOYEE BENEFITS 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 labour regulations require that the PRC subsidiaries 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 RMB31.5 million, RMB17.4 million and RMB28.0 million for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively.

31500000

17400000

28000000.0

<p id="xdx_804_eus-gaap--ConcentrationRiskDisclosureTextBlock_zBnNm0bJ0Kye" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">22. CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Group to the concentration of credit risks consist of cash and cash equivalents. 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.

<p id="xdx_800_eus-gaap--CommitmentsDisclosureTextBlock_zfwY7NM7T7vi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">23. COMMITMENTS As of December 31, 2025, the Group has no material commitments.

<p id="xdx_801_eus-gaap--SubsequentEventsTextBlock_zFSEBPI3Sbmj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">24. SUBSEQUENT EVENTS In March 2026, the Company formed a strategic partnership with Jiangyin Huigang Qihang Investment Partnership (“Huigang Qihang”) and Jiangyin Chan Fa Ke Chuang Investment Partnership (Limited Partnership) (“Chan Fa Ke Chuang”) to establish Uxin (Jiangyin) Intelligent Remanufacturing Co., Ltd. (“Uxin Jiangyin”). Pursuant to the equity investment agreement, Uxin Anhui will contribute RMB<span id="xdx_90E_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20260301__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinAnhuiMember__us-gaap--TypeOfArrangementAxis__custom--EquityInvestmentAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zl342q6gJMv3" title="Proceeds from related party debt">68.0 million, Huigang Qihang will contribute RMB<span id="xdx_906_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20260301__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuigangQihangMember__us-gaap--TypeOfArrangementAxis__custom--EquityInvestmentAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zipN2cShUFe2" title="Proceeds from related party debt">16.0 million, and Chan Fa Ke Chuang will contribute RMB<span id="xdx_908_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_uRMB_c20260301__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChanFaKeChuangMember__us-gaap--TypeOfArrangementAxis__custom--EquityInvestmentAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z2H2LfI8ISn5" title="Proceeds from related party debt">16.0 million, representing approximately <span id="xdx_908_ecustom--PrecentageOfRelatedPartyContribution_pid_dp_uPure_c20260301__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UxinAnhuiMember__us-gaap--TypeOfArrangementAxis__custom--EquityInvestmentAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpngkkjYre5d" title="Precentage of related party contribution">68%, <span id="xdx_90D_ecustom--PrecentageOfRelatedPartyContribution_pid_dp_uPure_c20260301__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuigangQihangMember__us-gaap--TypeOfArrangementAxis__custom--EquityInvestmentAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqe2CkEJ6y7h" title="Precentage of related party contribution">16%, and <span id="xdx_908_ecustom--PrecentageOfRelatedPartyContribution_pid_dp_uPure_c20260301__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChanFaKeChuangMember__us-gaap--TypeOfArrangementAxis__custom--EquityInvestmentAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z2BvwzMzedG" title="Precentage of related party contribution">16% of Uxin Jiangyin’s total registered capital, respectively. Uxin Jiangyin will be established under the Company’s plan to operate a new used car superstore in Jiangyin, Jiangsu. Pursuant to the agreement, Huigang Qihang and Chan Fa Ke Chuang has the right to request Uxin Anhui to acquire its equity interests if certain performance-based conditions are met, if Uxin Jiangyin fails to commence operating activities within one year since establishment, or if the board of Uxin Jiangyin is unable to reach effective resolutions for more than three times. The Company is still evaluating the accounting implication of this transaction. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

68000000.0

16000000.0

0.68 0.16 0.16

<p id="xdx_803_eus-gaap--RestrictedAssetsDisclosureTextBlock_zY3us2jfGFqd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">25. 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 <span id="xdx_906_ecustom--AppropriationToGeneralReservePercentageOfProfitNetOfTax_iI_dp_uPure_c20251231_z2EyVH3mYCh2" title="Percentage of after tax profit, transferred annually by PRC subsidiaries to general reserve fund">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 <span id="xdx_90B_ecustom--CriteriaForAppropriationToGeneralReserveFundMaximumThresholdAsPercentageOfRegisteredCapital_iI_dp_uPure_c20251231_zJg9XnHzQtQb" title="Maximum percentage criteria for appropriation of after-tax profit of PRC subsidiaries to general reserve fund (as a percent)">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 fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, <span id="xdx_90C_ecustom--AppropriationOfStatutoryReserveEnterpriseExpansionFundAndStaffWelfareAndBonusFund_do_c20220401__20230331_zPd6F6SYC821" title="Amount of appropriations to statutory reserve, enterprise expansion fund and staff welfare and bonus fund"><span id="xdx_906_ecustom--AppropriationOfStatutoryReserveEnterpriseExpansionFundAndStaffWelfareAndBonusFund_do_c20240401__20241231_zCiHbZ3U4Ttc" title="Amount of appropriations to statutory reserve, enterprise expansion fund and staff welfare and bonus fund"><span id="xdx_90A_ecustom--AppropriationOfStatutoryReserveEnterpriseExpansionFundAndStaffWelfareAndBonusFund_do_c20250101__20251231_zKhjNiU09Jce" title="Amount of appropriations to statutory reserve, enterprise expansion fund and staff welfare and bonus fund">no appropriations to the statutory reserve, enterprise expansion fund and staff welfare and bonus fund have been made by the Group. Since the Company has a consolidated shareholders’ deficit, its net asset base for purposes of calculating the proportionate share of restricted net assets of consolidated subsidiaries should be zero. Therefore, the restrictions placed on the net assets of the Company’s PRC subsidiaries with positive equity would result in the 25% threshold being exceeded and a corresponding requirement to provide parent company financial information (see Note 26).

0.10 0.50 0 0 0

0.25

<p id="xdx_806_eus-gaap--CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_zlPbzMQqH2Xd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">26. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY 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 dividends to the Company for the periods presented. For the purpose of presenting parent company 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 losses of subsidiaries”. Certain information and footnote disclosures generally included in financial statements prepared in accordance with US GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. The parent company did not have significant capital and other commitments, long-term obligations, other long-term debt, or guarantees as of December 31, 2024 and 2025. UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 26. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (CONTINUED) Balance sheets SCHEDULE OF BALANCE SHEETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td id="xdx_490_20241231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zrwL8gdFY19b" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td id="xdx_49D_20251231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_ziC6ugKzxIie" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AssetsAbstract_iB_zLjhywGssqY8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i01I_pn3n3_maAzyL4_z9vI2CNCwsIi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">850</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4,843</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AmountsDueFromIntraGroupCompanies_i01I_pn3n3_maAzyL4_zUbazuKiCRba" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Amounts due from intra-Group entities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,144,302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,358,481</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherReceivablesNetCurrent_i01I_pn3n3_maAzyL4_zs6zlUN82fJ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,457</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,308</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrent_i01I_pn3n3_maAzyL4_zRmNVUVG1JE2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Prepaid expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">89</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">236</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--Assets_i01TI_pn3n3_mtAzyL4_zXBNq5O8YVE7" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,147,698</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,364,868</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB_zJigIWqYeyT4" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">LIABILITIES AND SHAREHOLDERS’ DEFICIT</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesAbstract_iB_zjtSB3M7s2u6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedLiabilitiesCurrent_i01I_pn3n3_maLz6oo_zX8KZ7MeC5e4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Other payables and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,942</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,233</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ShortTermBorrowings_i01I_pn3n3_maLz6oo_zzEPrkQ3wAal" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Short-term borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,072</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--InvestmentDeficitInSubsidiariesCurrent_i01I_pn3n3_maLz6oo_zv5JRJmhoiQe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Investment deficit in subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,391,493</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,448,541</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AmountsDueToIntraGroupCompanies_i01I_pn3n3_maLz6oo_z71jg0S1zD27" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Amounts due to intra-Group entities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">94,265</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87,910</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Liabilities_i01TI_pn3n3_mtLz6oo_maLASEzn1M_zaU0AkkRuBCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,515,700</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,595,756</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_iB_zwWm7HPctHag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Shareholders’ deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--CommonStockValue_i01I_pn3n3_maSEzcjm_zRwVkp6QGb4c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Ordinary shares (US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90A_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20241231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zGOxbJFkuEUd" title="Ordinary shares, par value"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20251231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zYUALvzyIerf" title="Ordinary shares, par value">0.0001 par value, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--CommonStockSharesAuthorized_c20241231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_pdd" title="Ordinary shares, shares authorized">190,100,000,000 and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--CommonStockSharesAuthorized_iI_c20251231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zuif8ZMSfvpg" title="Ordinary shares, shares authorized">190,100,000,000 shares authorized as of December 31, 2024 and 2025, respectively; <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--CommonStockSharesIssued_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_z1liJtWQN6A3" title="Ordinary shares, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90C_eus-gaap--CommonStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zV6MfmZj5dbj" title="Ordinary shares, shares outstanding">56,354,853,138 Class A ordinary shares and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--CommonStockSharesIssued_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zLj42yiEzhck" title="Ordinary shares, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_909_eus-gaap--CommonStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_z2lR7TATj5Wb" title="Ordinary shares, shares outstanding">40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2024; <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90C_eus-gaap--CommonStockSharesIssued_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zLFQMM158MUl" title="Ordinary shares, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_907_eus-gaap--CommonStockSharesOutstanding_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_z5uxRv8HuYm8" title="Ordinary shares, shares outstanding">64,892,337,575 Class A ordinary shares and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--CommonStockSharesIssued_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zIfzTpVW9b5j" title="Ordinary shares, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--CommonStockSharesOutstanding_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_z6auNGD7bUJ5" title="Ordinary shares, shares outstanding">40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2025)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,816</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,922</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AdditionalPaidInCapitalCommonStock_i01I_pn3n3_maSEzcjm_zgnPvSMhItnb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,007,948</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,370,282</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--StockholdersEquityNoteSubscriptionsReceivable_i01NI_pn3n3_di_msSEzcjm_zVZVYcMLVR1e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Subscription receivable from shareholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,467</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,165</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_i01I_pn3n3_maSEzcjm_zPGWnPPwSv12" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accumulated other comprehensive income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">227,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234,630</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RetainedEarningsAccumulatedDeficit_i01I_pn3n3_maSEzcjm_zvK5zYBdeOJg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,583,017</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,860,557</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--StockholdersEquity_i01TI_pn3n3_mtSEzcjm_maLASEzn1M_zKvXoWRg2Egg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total shareholders’ deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(368,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(230,888</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_pn3n3_mtLASEzn1M_zHNCNM7kMZN6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total liabilities and shareholders’ deficit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,147,698</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,364,868</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> UXIN LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (All amounts in thousands, except for share and per share data, unless otherwise noted) 26. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (CONTINUED) <p id="xdx_890_esrt--CondensedStatementOfComprehensiveIncomeTableTextBlock_z9fxKfQHwkbi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Statements of comprehensive loss SCHEDULE OF STATEMENT OF COMPREHENSIVE LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230401__20240331__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zTC1ReGNkhae" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240401__20241231__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zuL48v19MB0f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20251231__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zjzIGTPnWjde" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_zSXekdiL5tN6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Operation expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--GeneralAndAdministrativeExpense_i01_pn3n3_maOEzgA9_zoN6M6HLzB44" style="vertical-align: bottom; background-color: White"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">General and administrative</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(73,236</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(89,099</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(37,587</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingExpenses_i01T_pn3n3_mtOEzgA9_zeyCVx1LWY99" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(73,236</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(89,099</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(37,587</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_pn3n3_maNILztw3_zyLv8K616ae5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(73,236</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(89,099</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37,587</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromEquityMethodInvestments_i01_pn3n3_maNILztw3_zfPxUWdUhKJi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Share of losses of subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(299,613</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(114,011</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(237,157</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--InterestIncomeExpenseNonoperatingNet_i01_pn3n3_maNILztw3_zwMMfOTDeWbe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(546</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,806</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,459</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--OtherNonoperatingIncomeExpense_i01_pn3n3_maNILztw3_zwHWw8PlwaWk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,746</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,859</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ForeignCurrencyTransactionGainLossBeforeTax_i01_pn3n3_maNILztw3_zRr76oerU0n5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Foreign exchange gain/(loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,196</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--FairValueImpactOfIssuanceOfSeniorConvertiblePreferredShares_i01_pn3n3_maNILztw3_z6rKUMmLwf9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Fair value impact of the issuance of senior convertible preferred shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,776</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_i01T_pn3n3_mtNILztw3_maNILATzqVb_zFeRC0XKEGV5" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(372,387</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,312</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(277,540</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PreferredStockConvertibleDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount_iN_pn3n3_di_msNILATzqVb_zchLZIXF1wW2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deemed dividend to preferred shareholders due to triggering of a down round feature</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,060,254</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iT_pn3n3_mtNILATzqVb_zbmBFSdIw6oh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net loss attributable to ordinary shareholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,432,641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(204,312</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(277,540</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--NetIncomeLoss_pn3n3_maCINOTzWdk_zDtcYrfXUbO" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(372,387</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(204,312</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(277,540</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_iB_z56a6dDsbx6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Other comprehensive income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax_i01N_pn3n3_di_msCINOTzWdk_zpuhw6hYJoe9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,905</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,628</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,912</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ComprehensiveIncomeNetOfTax_i01T_pn3n3_mtCINOTzWdk_zByAqqPp9ie2" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total comprehensive loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(367,482</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(201,684</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(270,628</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Statements of cash flow SCHEDULE OF STATEMENTS OF CASH FLOWS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230401__20240331__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zjvPKLbN4Rrf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240401__20241231__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zkeMQS2XQQY4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20251231__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_z15GrHg1zuRb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_maCCERCzCwY_ze9mJq7jZbRk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Net cash used in operating activities</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(11,150</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(3,719</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(12,322</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_maCCERCzCwY_zAgNDWiDHkb8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net cash used in investing activities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,327</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(69,612</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(344,518</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_maCCERCzCwY_zX6ZD3PWQPYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net cash generated from financing activities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">153,269</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">71,953</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">360,845</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_pn3n3_maCCERCzCwY_z11G3hkpMVi5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Effect of exchange rate changes on cash and cash equivalents</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,170</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_iT_pn3n3_mtCCERCzCwY_z6KdewpABkM1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net (decrease)/increase in cash and cash equivalents</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,038</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,356</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,993</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iS_pn3n3_zGu6ED1geOCa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Cash and cash equivalents at beginning of the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,244</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,206</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">850</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iE_pn3n3_zXF8C76c6o2g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Cash and cash equivalents at end of the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,206</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">850</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,843</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

Balance sheets SCHEDULE OF BALANCE SHEETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td id="xdx_490_20241231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zrwL8gdFY19b" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td id="xdx_49D_20251231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_ziC6ugKzxIie" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">December 31, 2024</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">December 31, 2025</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AssetsAbstract_iB_zLjhywGssqY8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i01I_pn3n3_maAzyL4_z9vI2CNCwsIi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">850</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4,843</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AmountsDueFromIntraGroupCompanies_i01I_pn3n3_maAzyL4_zUbazuKiCRba" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Amounts due from intra-Group entities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,144,302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,358,481</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherReceivablesNetCurrent_i01I_pn3n3_maAzyL4_zs6zlUN82fJ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,457</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,308</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrent_i01I_pn3n3_maAzyL4_zRmNVUVG1JE2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Prepaid expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">89</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">236</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--Assets_i01TI_pn3n3_mtAzyL4_zXBNq5O8YVE7" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,147,698</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,364,868</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB_zJigIWqYeyT4" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">LIABILITIES AND SHAREHOLDERS’ DEFICIT</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesAbstract_iB_zjtSB3M7s2u6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedLiabilitiesCurrent_i01I_pn3n3_maLz6oo_zX8KZ7MeC5e4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Other payables and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,942</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,233</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ShortTermBorrowings_i01I_pn3n3_maLz6oo_zzEPrkQ3wAal" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Short-term borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,072</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--InvestmentDeficitInSubsidiariesCurrent_i01I_pn3n3_maLz6oo_zv5JRJmhoiQe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Investment deficit in subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,391,493</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,448,541</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AmountsDueToIntraGroupCompanies_i01I_pn3n3_maLz6oo_z71jg0S1zD27" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Amounts due to intra-Group entities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">94,265</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87,910</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Liabilities_i01TI_pn3n3_mtLz6oo_maLASEzn1M_zaU0AkkRuBCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,515,700</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,595,756</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_iB_zwWm7HPctHag" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Shareholders’ deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--CommonStockValue_i01I_pn3n3_maSEzcjm_zRwVkp6QGb4c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Ordinary shares (US$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90A_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20241231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zGOxbJFkuEUd" title="Ordinary shares, par value"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20251231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zYUALvzyIerf" title="Ordinary shares, par value">0.0001 par value, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--CommonStockSharesAuthorized_c20241231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_pdd" title="Ordinary shares, shares authorized">190,100,000,000 and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--CommonStockSharesAuthorized_iI_c20251231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zuif8ZMSfvpg" title="Ordinary shares, shares authorized">190,100,000,000 shares authorized as of December 31, 2024 and 2025, respectively; <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--CommonStockSharesIssued_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_z1liJtWQN6A3" title="Ordinary shares, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90C_eus-gaap--CommonStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zV6MfmZj5dbj" title="Ordinary shares, shares outstanding">56,354,853,138 Class A ordinary shares and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--CommonStockSharesIssued_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zLj42yiEzhck" title="Ordinary shares, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_909_eus-gaap--CommonStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_z2lR7TATj5Wb" title="Ordinary shares, shares outstanding">40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2024; <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90C_eus-gaap--CommonStockSharesIssued_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zLFQMM158MUl" title="Ordinary shares, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_907_eus-gaap--CommonStockSharesOutstanding_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_z5uxRv8HuYm8" title="Ordinary shares, shares outstanding">64,892,337,575 Class A ordinary shares and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--CommonStockSharesIssued_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_zIfzTpVW9b5j" title="Ordinary shares, shares issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEJBTEFOQ0UgU0hFRVRTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--CommonStockSharesOutstanding_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember_z6auNGD7bUJ5" title="Ordinary shares, shares outstanding">40,809,861 Class B ordinary shares issued and outstanding as of December 31, 2025)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,816</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,922</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AdditionalPaidInCapitalCommonStock_i01I_pn3n3_maSEzcjm_zgnPvSMhItnb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Additional paid-in capital</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,007,948</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,370,282</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--StockholdersEquityNoteSubscriptionsReceivable_i01NI_pn3n3_di_msSEzcjm_zVZVYcMLVR1e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Subscription receivable from shareholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,467</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,165</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_i01I_pn3n3_maSEzcjm_zPGWnPPwSv12" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accumulated other comprehensive income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">227,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234,630</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RetainedEarningsAccumulatedDeficit_i01I_pn3n3_maSEzcjm_zvK5zYBdeOJg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,583,017</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,860,557</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--StockholdersEquity_i01TI_pn3n3_mtSEzcjm_maLASEzn1M_zKvXoWRg2Egg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total shareholders’ deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(368,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(230,888</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_pn3n3_mtLASEzn1M_zHNCNM7kMZN6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total liabilities and shareholders’ deficit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,147,698</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,364,868</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

850000

4843000

10144302000 7358481000

2457000

1308000

89000

236000

10147698000

7364868000

29942000

20233000

39072000

10391493000 7448541000 94265000 87910000

10515700000

7595756000

0.0001

190100000000

190100000000000

56354853138000

40809861000

64892337575000

40809861000

39816000

45922000

19007948000

19370282000

60467000

21165000

227718000

234630000

-19583017000

-19860557000

-368002000

-230888000

10147698000

7364868000

<p id="xdx_890_esrt--CondensedStatementOfComprehensiveIncomeTableTextBlock_z9fxKfQHwkbi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0pt">Statements of comprehensive loss SCHEDULE OF STATEMENT OF COMPREHENSIVE LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230401__20240331__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zTC1ReGNkhae" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240401__20241231__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zuL48v19MB0f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20251231__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zjzIGTPnWjde" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingExpensesAbstract_iB_zSXekdiL5tN6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Operation expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--GeneralAndAdministrativeExpense_i01_pn3n3_maOEzgA9_zoN6M6HLzB44" style="vertical-align: bottom; background-color: White"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">General and administrative</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(73,236</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(89,099</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(37,587</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingExpenses_i01T_pn3n3_mtOEzgA9_zeyCVx1LWY99" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(73,236</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(89,099</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(37,587</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_pn3n3_maNILztw3_zyLv8K616ae5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(73,236</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(89,099</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(37,587</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromEquityMethodInvestments_i01_pn3n3_maNILztw3_zfPxUWdUhKJi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Share of losses of subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(299,613</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(114,011</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(237,157</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--InterestIncomeExpenseNonoperatingNet_i01_pn3n3_maNILztw3_zwMMfOTDeWbe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(546</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,806</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,459</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--OtherNonoperatingIncomeExpense_i01_pn3n3_maNILztw3_zwHWw8PlwaWk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,746</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,859</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ForeignCurrencyTransactionGainLossBeforeTax_i01_pn3n3_maNILztw3_zRr76oerU0n5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Foreign exchange gain/(loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,196</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--FairValueImpactOfIssuanceOfSeniorConvertiblePreferredShares_i01_pn3n3_maNILztw3_z6rKUMmLwf9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Fair value impact of the issuance of senior convertible preferred shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,776</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_i01T_pn3n3_mtNILztw3_maNILATzqVb_zFeRC0XKEGV5" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(372,387</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,312</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(277,540</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PreferredStockConvertibleDownRoundFeatureDecreaseInNetIncomeLossToCommonShareholderAmount_iN_pn3n3_di_msNILATzqVb_zchLZIXF1wW2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deemed dividend to preferred shareholders due to triggering of a down round feature</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,060,254</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iT_pn3n3_mtNILATzqVb_zbmBFSdIw6oh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net loss attributable to ordinary shareholders</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,432,641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(204,312</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(277,540</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--NetIncomeLoss_pn3n3_maCINOTzWdk_zDtcYrfXUbO" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(372,387</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(204,312</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(277,540</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_iB_z56a6dDsbx6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Other comprehensive income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax_i01N_pn3n3_di_msCINOTzWdk_zpuhw6hYJoe9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Foreign currency translation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,905</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,628</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,912</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ComprehensiveIncomeNetOfTax_i01T_pn3n3_mtCINOTzWdk_zByAqqPp9ie2" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total comprehensive loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(367,482</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(201,684</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(270,628</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-73236000

-89099000

-37587000

-73236000

-89099000

-37587000

-73236000

-89099000

-37587000

-299613000

-114011000

-237157000

-546000

-1806000

-3459000

12746000

604000

1859000

38000

-1196000

-11776000

-372387000

-204312000

-277540000

2060254000

-2432641000

-204312000

-277540000

-372387000

-204312000

-277540000

-4905000

-2628000

-6912000

-367482000

-201684000

-270628000

Statements of cash flow SCHEDULE OF STATEMENTS OF CASH FLOWS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230401__20240331__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zjvPKLbN4Rrf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the fiscal year ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240401__20241231__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zkeMQS2XQQY4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20251231__srt--ConsolidationItemsAxis__srt--ReportableLegalEntitiesMember__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_z15GrHg1zuRb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_maCCERCzCwY_ze9mJq7jZbRk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Net cash used in operating activities</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(11,150</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(3,719</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">(12,322</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_maCCERCzCwY_zAgNDWiDHkb8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net cash used in investing activities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(204,327</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(69,612</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(344,518</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_maCCERCzCwY_zX6ZD3PWQPYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net cash generated from financing activities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">153,269</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">71,953</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">360,845</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations_pn3n3_maCCERCzCwY_z11G3hkpMVi5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Effect of exchange rate changes on cash and cash equivalents</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,170</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(12</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_iT_pn3n3_mtCCERCzCwY_z6KdewpABkM1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net (decrease)/increase in cash and cash equivalents</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,038</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,356</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,993</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iS_pn3n3_zGu6ED1geOCa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Cash and cash equivalents at beginning of the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,244</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,206</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">850</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iE_pn3n3_zXF8C76c6o2g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Cash and cash equivalents at end of the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,206</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">850</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,843</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

-11150000

-3719000

-12322000

-204327000

-69612000

-344518000

153269000

71953000

360845000

2170000

22000

-12000

-60038000

-1356000

3993000

62244000

2206000

850000

2206000

850000

4843000

27. CHANGE IN FISCAL YEAR END During the nine months ended December 31, 2024, the Group changed its fiscal year end from March 31 to December 31. The consolidated financial statements for the nine months ended December 31, 2024 is not comparable to that as of and for the fiscal years ended March 31, 2024. For comparison purposes, the Group included the selected data from unaudited Consolidated Statements of Comprehensive Loss for the nine months ended December 31, 2023 as below: SCHEDULE OF CONDENSED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; font-size: 10pt"> </td><td style="display: none; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230401__20231231_zhI2VaYRgoZ1" style="border-bottom: Black 1pt solid; display: none; font-size: 10pt; font-weight: bold; text-align: center">2023</td><td style="display: none; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="display: none; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240401__20241231_zeA1bnbIQlmi" style="border-bottom: Black 1pt solid; display: none; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="display: none; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center">(unaudited)</td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_maGPzV25_zdmc7kUdkSpb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt">Revenue</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">1,055,578</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">1,495,206</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CostOfRevenue_iN_di_msGPzV25_zypLNoLPOmG6" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Cost of revenues</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(996,052</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,392,815</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--GrossProfit_iT_mtGPzV25_maOILzpB3_zzJDqwJffxJe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Gross profit</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">59,526</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">102,391</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingExpenses_iN_di_msOILzpB3_z4hrxFCcQ7Ik" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Operating expenses</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(279,249</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(308,579</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--OperatingIncomeOther_maOILzpB3_zmOwddWSWYBl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other operating income, net</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,066</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">31,677</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingIncomeLoss_iT_mtOILzpB3_maPLz01h_zwX53sj4Stn3" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Loss from operations</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(202,657</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(174,511</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_iT_maPLz01h_zMW1R9mCpst2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Loss before income tax expense</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(238,493</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(201,724</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--ProfitLoss_iT_mtPLz01h_zmMEsWasF5mj" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Net loss</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(226,822</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(199,334</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Weighted average number of ordinary shares outstanding – basic and diluted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,430,901,818</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">56,744,742,647</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Net loss per share attributable to ordinary shareholders, basic and diluted</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(0.35</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(0.00</td><td style="font-size: 10pt; text-align: left">)</td></tr> </table>

The consolidated financial statements for the nine months ended December 31, 2024 is not comparable to that as of and for the fiscal years ended March 31, 2024. For comparison purposes, the Group included the selected data from unaudited Consolidated Statements of Comprehensive Loss for the nine months ended December 31, 2023 as below: SCHEDULE OF CONDENSED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; font-size: 10pt"> </td><td style="display: none; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20230401__20231231_zhI2VaYRgoZ1" style="border-bottom: Black 1pt solid; display: none; font-size: 10pt; font-weight: bold; text-align: center">2023</td><td style="display: none; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="display: none; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240401__20241231_zeA1bnbIQlmi" style="border-bottom: Black 1pt solid; display: none; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="display: none; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the nine months ended December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center">(unaudited)</td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_maGPzV25_zdmc7kUdkSpb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt">Revenue</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">1,055,578</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 16%; font-size: 10pt; text-align: right">1,495,206</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CostOfRevenue_iN_di_msGPzV25_zypLNoLPOmG6" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Cost of revenues</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(996,052</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,392,815</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--GrossProfit_iT_mtGPzV25_maOILzpB3_zzJDqwJffxJe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Gross profit</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">59,526</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">102,391</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingExpenses_iN_di_msOILzpB3_z4hrxFCcQ7Ik" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Operating expenses</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(279,249</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(308,579</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--OperatingIncomeOther_maOILzpB3_zmOwddWSWYBl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other operating income, net</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,066</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">31,677</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingIncomeLoss_iT_mtOILzpB3_maPLz01h_zwX53sj4Stn3" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Loss from operations</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(202,657</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(174,511</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_iT_maPLz01h_zMW1R9mCpst2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Loss before income tax expense</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(238,493</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(201,724</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--ProfitLoss_iT_mtPLz01h_zmMEsWasF5mj" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Net loss</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(226,822</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(199,334</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Weighted average number of ordinary shares outstanding – basic and diluted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,430,901,818</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">56,744,742,647</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Net loss per share attributable to ordinary shareholders, basic and diluted</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(0.35</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(0.00</td><td style="font-size: 10pt; text-align: left">)</td></tr> </table>

1055578000

1495206000

996052000

1392815000

59526000

102391000

279249000

308579000

17066000 31677000

-202657000

-174511000

-238493000

-201724000

-226822000

-199334000

1430901818

56744742647

-0.35

-0.00

In light of the low receivables collection rate recorded in prior years, the Group fully wrote off loans recognized as a result of payments under the guarantees. In 2020, the Group entered into agreements with WeBank in order to settle the Group’s remaining guarantee liabilities with regards to its historically-facilitated loans. Pursuant to the agreements, the Company will pay an aggregate amount of RMB372.0 million to WeBank from 2020 to 2025 as a guarantee settlement with a maximum annual settlement amount of no more than RMB84.0 million. Upon the signing of the 2020 July Agreement, the Group was no longer subject to guarantee obligations in relation to its historically facilitated loans for WeBank under the condition that the Group made the instalments based on the agreed-upon schedule in agreements. The payables derecognized primarily consist of the waiver of the payable to Webank and certain long-aged payables related to the Company’s certain businesses carried out in PRC and were ceased in early 2020, resulting in gains of RMB10.6 million, RMB9.7 million and RMB45.4 million recorded for the fiscal year ended March 31, 2024, the nine months ended December 31, 2024 and the year ended December 31, 2025, respectively. As of December 31, 2025, the remaining payables related to the Company’s divested business was amounted to RMB63.6 million. The derecognition of the remaining payables is subject to certain conditions to be met including those under the relevant PRC laws and regulations. During the year ended December 31, 2025, the Company received several cash-based government subsidies which are primarily intended to support the business operations in the Hefei and Xi’an superstore. All conditions associated with these subsidies have been satisfied, and the cash received does not need to be refunded under any circumstances. The Company recorded these subsidies under “Other operating income, net” in the Consolidated Statements of Comprehensive Loss. The PRC statutory income tax rate was used because the majority of the Group’s operations are based in PRC. The effect of different tax rate is attributed to varying rates in other jurisdictions where the Group is established, such as the Cayman Islands or Hong Kong, and the preferential tax rate certain entities in the Group enjoys. Less than 0.01.