Business
Kaixin Auto Holdings Announces Change to its Board Members
BEIJING, July 28, 2020 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN), one of the primary dealership networks in the
About this update from Kaixin Holdings
[{"type":"text","content":"BEIJING, July 28, 2020 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN), one of the primary dealership networks in the premium used car segment in China, today announced that Tianruo Pu has resigned from Kaixin’s board of directors, effective July 27, 2020, in order to focus on other business obligations.\n Mr. Pu has served as chairman of the Audit Committee and of the Compensation Committee of the Company since Kaixin Auto Group consummated its business combination with CM Seven Star Acquisition Corporation through a share exchange, on April 30, 2019. Upon the departure of Mr. Pu, Mr. Lin Cong will be the only independent director of the Company and the sole member of the Company’s Audit Committee and Compensation Committee. \"On behalf of my fellow directors, the Company's management team, and shareholders, I'd like to thank Tiaoruo for the significant contributions he made during his service on Kaixin's Board,\" said Mr. Joseph Chen, chairman of Kaixin. \"We wish him the best in his future endeavors.\" About Kaixin Auto Holdings Kaixin Auto Holdings is one of the primary dealership networks in the premium used car segment 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 has transformed itself from a tech-enabled financing platform into a nationwide dealer network that combines both self-owned and affiliated dealers as well as value-added services. Safe Harbor Statement This announcement contains 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. 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-l...