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Kaixin Holdings Announces Nasdaq Hearing Decision

Kaixin Holdings Announces Nasdaq Hearing Decision

开心控股宣布纳斯达克听证会决定
开心汽车 ·  09/13 00:00
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HANGZHOU, China, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Kaixin Holdings ("Kaixin" or the "Company") (NASDAQ: KXIN), a leading new energy vehicle manufacturer and sales platform in China, today announced that it received a letter dated September 12, 2024 from the Nasdaq Hearings Panel ("Panel"), indicating that the Panel has determined to grant the Company a temporary exception to regain compliance with The Nasdaq Stock Market LLC's Listing Rule 5550(a)(2) (the "Bid Price Rule") by December 13, 2024. The Company is scheduled to hold an extraordinary general meeting on October 1, 2024 to obtain shareholders' approval for a reverse stock split. The Company aims to effectuate a reverse stock split by November 30, 2024, and to regain compliance with the Bid Price Rule by December 13, 2024.

2024年9月13日,中国杭州(GLOBE NEWSWIRE)——凯欣控股("凯欣"或"公司")(纳斯达克:KXIN)是中国领先的新能源汽车制造商和销售平台,今天宣布,公司收到了一封日期为2024年9月12日的纳斯达克听证会("听证会")的信件,表明听证会已决定在2024年12月13日之前暂时豁免公司恢复符合纳斯达克证券交易所有限责任公司的上市规则5550(a)(2)("买盘价格规则")。公司计划于2024年10月1日举行特别股东大会,以获得股东的批准进行股票拆分。公司计划在2024年11月30日之前完成股票拆分,并在2024年12月13日之前恢复符合买盘价格规则。

The temporary exception granted to the Company is subject to the following milestones. In the event the Company fails to regain compliance with the Bid Price Rule by December 13, 2024, its securities will be delisted.

向公司授予的临时豁免取决于以下里程碑。如果公司未能在2024年12月13日前遵守买盘规则,其证券将被摘牌。

  1. On or before October 1, 2024, the Company shall obtain shareholders approval for a reverse stock split at a ratio that satisfies the minimum requirement in the Bid Price Rule;
  2. On or before November 30, 2024, the Company shall effect a reverse stock split and, thereafter, maintain a $1 closing bid price for a minimum of ten consecutive business days;
  3. On or before December 13, 2024, the Company shall have demonstrated compliance with the Bid Price Rule, by evidencing a closing bid price of $1 or more per share for a minimum of ten consecutive trading sessions.
  1. 2024年10月1日或之前,公司应获得股东批准,进行一项符合买盘规则最低要求的股票回购;
  2. 2024年11月30日或之前,公司应进行一项股票回购,并在此后,维持至少十个连续营业日收盘买盘价为1美元;
  3. 2024年12月13日或之前,公司应证明遵守买盘规则,证明每股收盘买盘价至少为1美元,连续交易十个季度。

About Kaixin Holdings

关于开心控股 开心控股是中国领先的新能源车制造商,装备有拥有丰富研发、生产、营销经验的专业团队,生产设备具备冲压、焊接、喷涂、总装作业能力。开心控股生产多款电动乘用车和物流车型。公司致力于打造一个集线上线下、多元化业务运营的竞争性国际市场地位。凭借专业团队的专业知识和创新和可持续性的启示,开心控股旨在为实现“达到碳排放峰值和碳中和”的目标做出贡献。

Kaixin Holdings is a leading new energy vehicle manufacturer in China, equipped with professional teams with rich experience in R&D, production, marketing, and production facilities with the capacity for stamping, welding, painting, and assembly operations. Kaixin produces multiple electric passenger and logistics vehicle models. The Company is committed to building up a competitive international market position that integrates online and offline presence and diversified business operations. Leveraging the expertise of its professional teams and driven by the inspiration for innovation and sustainability, Kaixin aims to contribute to achieving the goals of "peak carbon emissions and carbon neutrality".

Kaixin控股是中国领先的新能源汽车制造商,拥有专业的研发、生产、营销团队以及压制、焊接、喷漆和装配生产设施。Kaixin生产多种电动客车和物流车型。公司致力于建立一个集线上线下、多元化业务的竞争性国际市场地位。凭借专业团队的专业知识并受创新和可持续性启发驱动,Kaixin旨在为实现“碳排放峰值和碳中和”目标做出贡献。

Safe Harbor Statement

Safe Harbor声明

This announcement may contain forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" or other similar expressions. Statements that are not historical facts, including statements about Kaixin's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our goals and strategies; our future business development, financial condition and results of operations; our expectations regarding demand for and market acceptance of our services; our expectations regarding the retention and strengthening of our relationships with auto dealerships; our plans to enhance user experience, infrastructure and service offerings; competition in our industry in China; and relevant government policies and regulations relating to our industry. Further information regarding these and other risks is included in our other documents filed with the SEC. All information provided in this announcement and in the attachments is as of the date of this announcement, and Kaixin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

开心控股

For more information, please contact:

更多信息,请联系:

Kaixin Holdings
Investor Relations
Email: ir@kaixin.com

开心网控股集团
投资者关系
电子邮件:ir@kaixin.com

SOURCE: Kaixin Holdings

SOURCE: Kaixin控股


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