- **Kaixin Holdings** has established a **Digital Asset Management Department** to acquire cryptocurrencies such as **Bitcoin** and **Ethereum** and implement a digital asset allocation strategy to diversify traditional business risks and generate long-term returns.  **[1713539_0001104659-25-096934_tm2527960d1_ex99-1.htm:0]** 
- The company is exploring opportunities to introduce **new strategic investors** and acquire **high-value projects in the Web3 industry**.  **[1713539_0001104659-25-096934_tm2527960d1_ex99-1.htm:0]** 
- As of **October 6, 2025**, Kaixin Holdings has **27,258,228 ordinary shares issued and outstanding**, comprising **22,158,228 Class A** and **5,100,000 Class B ordinary shares**.  **[1713539_0001104659-25-096934_tm2527960d1_ex99-1.htm:0]** 
- Kaixin Holdings is committed to transitioning into an **AI-driven tech business** in China, utilizing AI for online live streaming education platforms and aiming to expand its AI capacity.  **[1713539_0001104659-25-096934_tm2527960d1_ex99-1.htm:0]**

Kaixin Holdings Establishes Digital Asset Management Department

- Kaixin Holdings announced that **all resolutions presented to shareholders at its Annual General Meeting held on September 13, 2025, were duly passed**.  **[1713539_0001104659-25-090409_tm2526199d1_ex99-1.htm:0]** 
- The **Board of Directors is authorized to implement a Share Consolidation and make Articles Amendments** within 360 days after the shareholders' passage of resolutions.  **[1713539_0001104659-25-090409_tm2526199d1_ex99-1.htm:0]** 
- The company is committed to **transitioning into an AI-driven tech business** in China, utilizing AI for online live streaming education and planning to expand its AI capacity through a proposed acquisition.  **[1713539_0001104659-25-090409_tm2526199d1_ex99-1.htm:0]**

Kaixin Holdings Announces Annual General Meeting Results

- **Kaixin Holdings reported a net loss attributable to the Company of $8.4 million for the first half of 2025**, an increase from $5.4 million in the first half of 2024, despite total net revenues increasing to **$95,000** from nil in the prior year period.  **[1713539_0001104659-25-089526_tm2525967d1_6k.htm:1]** 
- The company's accumulated deficit reached **$386.0 million as of June 30, 2025**, and with minimal revenues and operating cash outflows of **$1.5 million** for the first half of 2025, these factors raise **substantial doubt about its ability to continue as a going concern**.  **[1713539_0001104659-25-089526_tm2525967d1_ex99-1.htm:7]** **[1713539_0001104659-25-089526_tm2525967d1_ex99-1.htm:0]** 
- As of June 30, 2025, Kaixin Holdings had **$0.6 million in cash and cash equivalents** and total current liabilities of **$7.6 million**.  **[1713539_0001104659-25-089526_tm2525967d1_ex99-1.htm:0]** **[1713539_0001104659-25-089526_tm2525967d1_ex99-1.htm:7]** 
- On August 6, 2025, the company issued **10,000 Series I Convertible Preferred Shares** with a total Stated Value of **$10,000,000** to Discover Flux Ltd as compensation for the transfer of 100% equity of Morning Star Auto Inc., which had net asset deficits.  **[1713539_0001104659-25-089526_tm2525967d1_ex99-3.htm:0]** **[1713539_0001104659-25-089526_tm2525967d1_ex99-1.htm:23]**

Kaixin Holdings Reports Increased Net Loss for First Half 2025 and Raises Going Concern Doubts

- **Kaixin Holdings** will hold its Annual General Meeting (AGM) on **September 13, 2025**, at **10:00 am Beijing time**.  **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:0]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:4]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:10]** 
- The primary proposals for shareholder vote include a **share consolidation** and an **amendment to the company's memorandum and articles of association**.  **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:0]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:1]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:8]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:10]** 
- The proposed share consolidation ratio is **not less than one-for-two and not more than one-for-ninety-nine**, with the exact ratio to be determined by the Board within **180 calendar days** after the resolution's passing.  **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:7]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:10]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:13]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:15]** 
- This action is being pursued to help the company **regain and maintain compliance with Nasdaq's minimum bid price requirement**, as its stock price was **$0.73 as of August 25, 2025**.  **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:14]** 
- The Board of Directors **unanimously recommends voting "FOR"** both the share consolidation and the related articles amendment proposals.  **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:7]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:10]** **[1713539_0001104659-25-084299_tm2524496d1_ex99-1.htm:15]**

Kaixin (KXIN)