Uxin Limited's stock rose after the company formed share-subscription agreements with NIO Capital and Prestige Shine Group that will inject $50 million into the company.

The stock of the Chinese used-car retailer rose 9% in Friday trading. It was down 23% this year as of Wednesday's close.

Under the agreements, Uxin will sell about 5.25 billion class A ordinary shares for $0.00953 a share, equivalent to $2.859 per American depositary share, for a total of $50 million, the company said on Friday. NIO Capital will invest $20 million while Prestige Shine Group will invest $30 million, it said.

"The proceeds from this financing are expected to provide sufficient capital to support the launch of four to six new superstores in 2026, while also strengthening our balance sheet and further enhancing our overall financial resilience," said Uxin Chief Executive Kun Dai.