QH vs UXIN
Quhuo Ltd. and Uxin Ltd., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | QH | UXIN |
|---|---|---|
| Revenue | CNY 2.5B | CNY 3.2B |
| Net income | CNY -149.5M | CNY -262.5M |
| Gross margin | 0.5% | 6.7% |
| Net margin | −6.0% | −8.1% |
| Return on equity | −36.5% | · |
| Diluted EPS | −CNY 0.11 | CNY 0.00 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY -39.4M | CNY -525.8M |
| Equity | CNY 354.8M | CNY -230.9M |
| Net debt / equity | 0.21× | · |
| Current ratio | 1.03× | 0.76× |
| Revenue CAGR 5y | −0.4% | · |
| Profit CAGR 5y | · | · |
UXIN bills 1.3× the revenue of QH, and both closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
7 years side by side
| Fiscal year | QH | UXIN |
|---|---|---|
| FY2025 | CNY 2.5B | CNY 3.2B |
| FY2023 | CNY 3.7B | CNY 1.4B |
| FY2022 | CNY 3.8B | CNY 2.1B |
| FY2021 | CNY 4.0B | CNY 1.6B |
| FY2020 | CNY 2.6B | CNY 657.4M |
| FY2019 | CNY 2.1B | CNY 1.6B |
| FY2018 | CNY 1.5B | CNY 659.1M |
Bottom line
| Fiscal year | QH | UXIN |
|---|---|---|
| FY2025 | CNY -149.5M | CNY -262.5M |
| FY2023 | CNY 3.3M | CNY -369.5M |
| FY2022 | CNY -13.1M | CNY -137.2M |
| FY2021 | CNY -157.9M | CNY -143.2M |
| FY2020 | CNY 3.4M | CNY -421.2M |
| FY2019 | CNY -11.8M | CNY -2.0B |
| FY2018 | CNY -42.6M | CNY -1.5B |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CNY 713,796,000 | UXIN |
| FY2023 | +CNY 2,327,658,000 | QH |
| FY2022 | +CNY 1,761,137,000 | QH |
| FY2021 | +CNY 2,389,163,000 | QH |
| FY2020 | +CNY 1,923,402,000 | QH |
| FY2019 | +CNY 467,758,000 | QH |
| FY2018 | +CNY 815,385,000 | QH |
The higher-revenue side has changed between QH and UXIN over this period. The gap has narrowed since the earliest year compared.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +2.1 pp | QH |
| FY2023 | +27.0 pp | QH |
| FY2022 | +6.2 pp | QH |
| FY2021 | +4.0 pp | QH |
| FY2020 | +63.9 pp | QH |
| FY2019 | +124.7 pp | QH |
| FY2018 | +230.4 pp | QH |
QH has kept the higher net margin in every one of these 7 fiscal years.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
UXIN's net margin has been more volatile than QH's over the 7 comparable fiscal years — 78.6 percentage points of standard deviation against 2.3.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
QH led in net margin in every one of the 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.