KXIN Research | Milton Maxwell

KXIN

Kaixin Holdings

4.0200

-0.4200-9.46%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

3.65M

P/E (TTM)

Basic EPS (TTM)

-626.70

Dividend Yield

Recent Filings

8-K

Switches to foreign private issuer

7/1/19Jul 1, 2019

Kaixin Auto Holdings determined on June 28, 2019, it qualifies as a foreign private issuer under Exchange Act Rule 3b-4. Effective immediately after this 8-K, it switches to Form 20-F annuals and Form 6-K currents. Lighter reporting kicks in. No other impacts disclosed.

8-K

Warrants delisted from Nasdaq

6/25/19Jun 25, 2019

Kaixin Auto Holdings' warrants face delisting from Nasdaq after failing to meet IM-5101-2 listing rules, as notified June 3 and confirmed June 21, with trading suspended June 11. Nasdaq will file Form 25, effective ten days later. Ordinary shares under KXIN remain listed unaffected. Warrants gone.

8-K

Warrants face Nasdaq delisting

6/3/19Jun 3, 2019

Kaixin Auto Holdings received a Nasdaq notice on May 31, 2019, for failing to meet the 400 round lot holder requirement for its warrants post-business combination. Trading halts June 11 unless appealed by June 7. Ordinary shares remain listed unaffected. Delisting risks warrant liquidity.

10-Q

Q1 FY2019 results

5/15/19May 15, 2019

Kaixin Auto Holdings, still a blank-check company in Q1 2019 ended March 31, posted net income of $726K, up 38% y/y from $528K, while operating loss widened to $464K from $112K on merger costs. Interest income jumped 62% y/y to $1.2M from Trust Account ($213.7M balance). Diluted EPS of $0.03 reconciles to 26.3M shares. Cash outside Trust rose q/q to $54K; Sponsor/Kaixin funded $2.1M extension deposit. Business combination with Kaixin closed April 30 for 28.3M shares (stock only), no goodwill recorded, 20.4M shares redeemed at ~$10.37. Trust funds secure working capital. Sponsor loans outstanding. Heavy redemptions pressure post-merger liquidity.

8-K

KAH completes Kaixin merger

5/6/19May 6, 2019

Kaixin Auto Holdings completed its business combination with CM Seven Star Acquisition Corp on April 30, 2019, acquiring 100% of Kaixin Auto Group from Renren Inc. for 28.3 million KAH shares, while reserving 4.7 million shares for Kaixin options and escrowing 19.5 million earnout shares tied to 2019 revenue of RMB5B and EBITDA thresholds of RMB150M-200M, plus 2020 EBITDA of RMB340M-480M. Renren now holds 71.7% of KAH's 39.4 million outstanding shares, yet Kaixin's 2018 revenue exploded to $431M from $117M amid a shift to auto sales, but losses widened to $89M on $414M costs and $52M contingent consideration charges. Post-merger, KAH exits shell status with $30.9M raised, but faces earnout risks and ongoing losses.

About

Kaixin Holdings, an investment holding company, primarily sells domestic and imported automobiles in the People's Republic of China and Hong Kong. It also sells new and used vehicles through a network of dealerships with a focus on automobile brands, such as Audi, BMW, Mercedes-Benz, Land Rover, Bentley, Rolls-Royce, and Porsche, as well as through online sales channels, including the Kaixin app and web interfaces. The company is headquartered in Beijing, the People's Republic of China.

CEO

Mr. Mingjun Lin

IPO

11/6/2017

Website

https://ir.kaixin.com

Employees

Sector

Consumer Cyclical

Industry

Auto & Truck Dealerships