Kaixin001

Kaixin Auto Holdings Announces Supplements to Unaudited First Half 2023 Financial Results

Retrieved on: 
Thursday, November 16, 2023
Marketing, Lithium, Video game, Pharmaceutical industry, Transformer, Kaixin001

BEIJING, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN), a leading new energy vehicle manufacturer and one of the premium imported cars and used cars platform in China, today announces certain supplements to the unaudited financial results for the six months ended June 30, 2023 originally announced on November 3, 2023 (the “November 3 Announcement”).

Key Points: 
  • BEIJING, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN), a leading new energy vehicle manufacturer and one of the premium imported cars and used cars platform in China, today announces certain supplements to the unaudited financial results for the six months ended June 30, 2023 originally announced on November 3, 2023 (the “November 3 Announcement”).
  • Total net revenues were US$18.9 million, representing a decrease of 43% from US$33.3 million in the first half of 2022.
  • Loss from operations was US$4.1 million, substantially less than the loss from operations of US$32.8 million in the first half of 2022.
  • Adjusted net loss (non-GAAP)2 was US$3.3 million, compared to an adjusted net loss of US$3.8 million in the first half of 2022.

Kaixin Auto Holdings Announces Unaudited First Half 2023 Financial Results

Retrieved on: 
Friday, November 3, 2023
Acquisition, Marketing, Morning Star, Lithium, Video game, Pharmaceutical industry, Transformer, Kaixin001

BEIJING, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN), a leading new energy vehicle manufacturer and one of the premium imported cars and used cars platform in China, today announced its unaudited financial results for the six months ended June 30, 2023.

Key Points: 
  • BEIJING, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN), a leading new energy vehicle manufacturer and one of the premium imported cars and used cars platform in China, today announced its unaudited financial results for the six months ended June 30, 2023.
  • Total net revenues were US$18.9 million, representing a decrease of 43% from US$33.3 million in the first half of 2022.
  • Adjusted loss from operations (non-GAAP)1 was US$2.8 million, compared to an adjusted loss from operations of US$2.9 million in the first half of 2022.
  • Adjusted net loss (non-GAAP)2 was US$3.3 million, compared to an adjusted net loss of US$3.8 million in the first half of 2022.

Kaixin Auto Holdings Announces Receipt of Nasdaq Letter Regarding Regaining Compliance with Minimum Bid Price Requirement

Retrieved on: 
Friday, September 29, 2023
Kaixin001, Cryptocurrency

BEIJING, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings ("Kaixin" or the "Company") (NASDAQ: KXIN) today announced the receipt of a notification letter dated September 28, 2023 from the Listing Qualifications department of the Nasdaq Stock Market (“Nasdaq”), notifying Kaixin that, the Nasdaq Staff has determined that for the last 10 consecutive business days, from September 15 through September 28, 2023, the closing bid price of the Company’s ordinary shares has been at $1.00 per share or greater.

Key Points: 
  • BEIJING, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings ("Kaixin" or the "Company") (NASDAQ: KXIN) today announced the receipt of a notification letter dated September 28, 2023 from the Listing Qualifications department of the Nasdaq Stock Market (“Nasdaq”), notifying Kaixin that, the Nasdaq Staff has determined that for the last 10 consecutive business days, from September 15 through September 28, 2023, the closing bid price of the Company’s ordinary shares has been at $1.00 per share or greater.
  • Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2).

Six Strengths of WM Motor that Attracted Kaixin Auto Holdings to the Proposed Acquisition

Retrieved on: 
Wednesday, September 20, 2023
EV, ASEAN, Kaixin001, OTA, Julius Caesar, HMI, WM, Silicon carbide, Acquisition, Ajax, Motion, SUV, European, City, BMS, MOSFET, Warehouse

BEIJING, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings ("Kaixin" or the "Company") (NASDAQ: KXIN) today announced that it had identified several noteworthy strengths in WM Motor Holdings Limited ("WM Motor") that attracted the Company to the proposed acquisition.

Key Points: 
  • BEIJING, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings ("Kaixin" or the "Company") (NASDAQ: KXIN) today announced that it had identified several noteworthy strengths in WM Motor Holdings Limited ("WM Motor") that attracted the Company to the proposed acquisition.
  • On September 11, Kaixin announced the non-binding acquisition term sheet with WM Motor to acquire 100% of equity of WM Motor.
  • As a pioneer in bringing innovative smart EV technologies to China’s mainstream auto market, WM Motor possesses six unique strengths.
  • WM Motor has built a comprehensive SUV+ Sedan smart EV portfolio, including three SUVs (EX5/EX6/W6) and two sedans (E5 including E5 Pro/M7).

Kaixin Auto Holdings Announces Non-Binding Acquisition Term Sheet with WM Motor

Retrieved on: 
Monday, September 11, 2023
EX5, EU, ASEAN, E5, WVTA, SSTA, Certification, Acquisition, European, City, R, Software, Automotive industry, Warehouse, Kaixin001, W6

BEIJING, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced that the Company has signed a non-binding acquisition term sheet with WM Motor Holdings Limited ("WM Motor"), planning to issue a certain number of new shares to acquire 100% of equity of WM Motor held by its current shareholders.

Key Points: 
  • BEIJING, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced that the Company has signed a non-binding acquisition term sheet with WM Motor Holdings Limited ("WM Motor"), planning to issue a certain number of new shares to acquire 100% of equity of WM Motor held by its current shareholders.
  • WM Motor has successfully developed and delivered four models of smart electric vehicles in volume, i.e.
  • The WM Motor management team has very rich international business experience and has made major breakthroughs in overseas expansion this year.
  • Through the intended acquisition, WM Motor will gain access to more capital support to enhance the development of its smart mobility business!”

Kaixin Auto Holdings Announces Completion of Morning Star Acquisition and Entry into New Energy Vehicles Manufacturing

Retrieved on: 
Tuesday, August 22, 2023
Growth, Acquisition, A00, Rare-earth element, Kaixin001

BEIJING, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced the closing of the acquisition of Morning Star Auto Inc. (“Morning Star”).

Key Points: 
  • BEIJING, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced the closing of the acquisition of Morning Star Auto Inc. (“Morning Star”).
  • Following the closing, Morning Star has become a wholly-owned subsidiary of Kaixin, which represents the Company's official entry into the field of new energy vehicle manufacturing.
  • Mr. Mingjun Lin, chairman and CEO of Kaixin, said: "The Company has gone through a long journey in its transformation into the new energy vehicles business, and the successful completion of the Morning Star acquisition is an important milestone in the successful transformation of Kaixin!"
  • Mini-sized new energy vehicles are the product categories that Kaixin sees huge growth potential and focuses on in its future endeavors.

Kaixin Auto Holdings Announces Appointment of Senior VP in Charge of New Energy Vehicles Business

Retrieved on: 
Wednesday, August 2, 2023
Ford Motor Company, University, Senior, BAIC Motor, University of Science and Technology of China, Mechanical, Automotive industry, Kaixin001, Northwestern University, Mechanics

BEIJING, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced the appointment of Mr. Lei Gu as Senior VP of the Company in charge of the new energy vehicles department.

Key Points: 
  • BEIJING, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced the appointment of Mr. Lei Gu as Senior VP of the Company in charge of the new energy vehicles department.
  • Before joining Kaixin, Mr. Lei Gu served as the vice president and chief engineer of BAIC Motors, a Fortune 500 company, and the president of Beijing Automotive Research Institute.
  • Mr. Mingjun Lin, chairman and CEO of Kaixin, said: "Mr. Gu and his team possess outstanding capability and track records in the auto production, manufacturing, and sales areas.
  • Their joining Kaixin will definitely generate excellent performance for the company!"

Kaixin Auto Holdings Announces Supplementary Acquisition Agreement with Morning Star and Expects Completion of the Acquisition in August 2023

Retrieved on: 
Tuesday, July 11, 2023
Morning Star, Acquisition, Rockford Morning Star Building, Phosphorus, Kaixin001

BEIJING, July 11, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announces that the Company has signed a supplementary acquisition agreement with Morning Star Auto Inc (“Morning Star”) and expects completion of the Morning Star acquisition in August 2023.

Key Points: 
  • BEIJING, July 11, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announces that the Company has signed a supplementary acquisition agreement with Morning Star Auto Inc (“Morning Star”) and expects completion of the Morning Star acquisition in August 2023.
  • Mr. Mingjun Lin, chairman and CEO of Kaixin, said: "Kaixin and Morning Star have reached a more flexible cooperation plan on the acquisition conditions.
  • The Morning Star acquisition will greatly accelerate Kaixin's strategic transition into the new energy vehicle business.
  • Mr. Lei Gu, chairman of Morning Star, said: "The Morning Star's factory in Henan has been operating at normal production capacity.

Kaixin Auto Holdings Announces Progress on Morning Star Acquisition

Retrieved on: 
Wednesday, May 31, 2023
City, Growth, Morning Star, Acquisition, Fireworks, Rail transport, Kaixin001

BEIJING, May 31, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announces that the Company is making continued progress on the acquisition of Morning Star Auto Inc. (Morning Star).

Key Points: 
  • BEIJING, May 31, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announces that the Company is making continued progress on the acquisition of Morning Star Auto Inc. (Morning Star).
  • Concurrent with the relief of the pandemic and the full recovery of the Chinese economy, Morning Star's factory in Henan, China has been operating at full capacity.
  • Morning Star mainly produces miniature electric vehicles, which are popular among consumers in China's tier 3-6 cities.
  • At the completion of the Morning Star acquisition, Kaixin will put the electric vehicle export business as a top priority and vigorously promote overseas expansion.

Kaixin Auto Holdings Announces Development of AIGC System “Happy Buy Car”

Retrieved on: 
Monday, April 24, 2023
Kaixin001, Artificial intelligence, AI, Research, Marketing, Mobile phone, Online shopping

BEIJING, April 24, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announces that it has formed a specialized technical team to develop its AIGC (Artificial Intelligence Generated Content) system “Happy Buy Car.” Kaixin has been dedicated to developing the intelligent “Happy Buy Car” system in the past.

Key Points: 
  • BEIJING, April 24, 2023 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announces that it has formed a specialized technical team to develop its AIGC (Artificial Intelligence Generated Content) system “Happy Buy Car.” Kaixin has been dedicated to developing the intelligent “Happy Buy Car” system in the past.
  • The newly formed technical team will conduct in-depth research on AIGC and ChatGPT-related technological applications and expedite development of the “Happy Buy Car” system.
  • AIGC is leading an unstoppable revolution in digital content.
  • As a well-known luxury car sales platform in China, Kaixin aims to develop the “Happy Buy Car” system through massive data accumulation and practically tested training models to better serve customers and improve their car purchase experience.