Shares of Uxin (NASDAQ:UXIN), the Chinese used car e-commerce platform, plunged 5.98% in Friday's trading session following the release of the company's Full Year 2024 financial results. The sharp decline erased the 5.1% gain the stock had accumulated over the past week, as investors digested the mixed earnings report.

Uxin reported a 30% year-over-year increase in revenue, reaching CN¥1.81 billion for the fiscal year 2024. However, the company's bottom line showed continued pressure, with the net loss widening by 13% to CN¥348.7 million. This translated to a loss per share of CN¥2.39, compared to a much larger loss of CN¥64.67 per share in the previous fiscal year.

While the significant revenue growth demonstrates Uxin's expanding market presence, the widening losses appear to have spooked investors. The market's negative reaction suggests that shareholders were hoping for more substantial progress towards profitability. Additionally, the company disclosed two warning signs in its report, with one being significant, which may have further contributed to the stock's sharp decline. As Uxin continues to navigate the competitive Chinese used car market, investors will likely keep a close eye on the company's ability to balance growth with improving bottom-line performance in the coming quarters.