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  "documentTitle": "32 IBD presentation 2020 58.Com Inc. Houlihan Lokey 1",
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  "presentationDate": "2020-01-01 00:00:00",
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  "notes": "The table compares Uxin Limited and other automobile classifieds against market indices to provide context for the Guazi valuation.",
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      "text": "The selected value of the Company's interest in Guazi is ~¥1.4 billion to ~¥4.2 billion based on the following considerations: In September 2019, the Company sold a portion of its ownership (~10% of Guazi) to a third-party investor for a total price of ~¥4,760.5 million. As of September 2019, the implied value of the remaining 8% stake held by the Company in Guazi would be $0.6 billion (~¥4.2 billion), per Company management. Company management provided an estimated book value as of 3/31/2020 for its interest in Guazi of ¥1,362.8 million, which represents a write down of ¥543.3 million from Guazi's book value of ¥1,906.1 million as of 12/31/2019. Per Company management, the latest book value after the write down represents its current estimate of the market value of the Company's interest in Guazi. Guazi is in the used car business with significant exposure to the financing side of the auto business and Company management has indicated that the online used cars marketplace has been significantly impacted by COVID-19 and industry competitive factors. Per Company management, Uxin Limited is similar to Guazi due to its operations in China and level of exposure to auto financing.",
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      "text": "Source: Company management, public filings, Capital IQ. Note: Per Company management, the various classes of equity in Guazi are economically similar. 1. Based on RMB to USD exchange rate as of 6/12/2020 per Capital IQ.",
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      "text": "Summary of Recent Disposal of Portion of Guazi, Corresponding Implied Valuation and Other Considerations",
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      "text": "Total Share/ADS Price Return Since Approximate Date of Guazi Disposal for Similar Public Companies",
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      "kind": "title",
      "text": "Summary of Recent Disposal of Portion of Che Hao Duo (Guazi)",
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