Kaixin Auto Holdings Announces Changes to Board Member
On July 5, 2022, Kaixin Auto Holdings (NASDAQ: KXIN) announced the resignation of Mr. James Jian Liu from its board of directors, effective June 30, 2022, due to personal reasons. Mrs. Lucy Yi Yang, the company's CFO, will take over as a director starting August 1, 2022. Mr. Liu has been a board member since the company’s inception, and the board expressed gratitude for his contributions. Kaixin continues to focus on transforming into a significant player in China's electric vehicle market while maintaining its presence in the premium used car segment.
- Appointment of a CFO as a director may bring financial expertise to the board.
- Continued focus on transitioning into the electric vehicle market, indicating potential growth.
- Resignation of a founding board member could signal concerns about leadership continuity.
BEIJING, July 05, 2022 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced that Mr. James Jian Liu resigned from Kaixin’s board of directors (the “Board”), with effect from June 30, 2022, for personal reasons. Mrs. Lucy Yi Yang, chief financial officer of the Company, has been appointed by the Board as director of the Company, with effect from August 1, 2022.
Mr. James Liu had served as a director of the Board since Kaixin’s establishment. “On behalf of my fellow directors, the Company's management team, and shareholders, I would like to thank James for the significant contributions that he made during his service on Kaixin's Board. We wish him the best in his future endeavours," said Mr. Mingjun Lin, Kaixin’s chairman and CEO.
About Kaixin Auto Holdings
Kaixin Auto Holdings is one of the primary dealership networks in the premium used car segment and new car sales in China. Supported by the rapid growth of China's used car market and leveraging its own hybrid business model that offers both strong online and offline presence, Kaixin is in the process of transforming from a nationwide dealerships network to one of the important players in China’s electric vehicle market.
Safe Harbor Statement
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" and similar statements. Among other things, the business outlook for 2021 and quotations from management in this announcement, as well as Kaixin’s strategic and operational plans, contain forward-looking statements. Kaixin may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. 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 press release and in the attachments is as of the date of this press release, and Kaixin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
Kaixin Auto Holdings
Investor Relations
Email: ir@kaixin.com
SOURCE: Kaixin Auto Holdings
FAQ
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