Kaixin Holdings Acquires Zhejiang Ordinary Smile Auto Sales Co., Ltd. and Completes Share Consolidation

Kaixin Holdings has completed the acquisition of Zhejiang Ordinary Smile Auto Sales Co., Ltd. as previously agreed upon. The acquisition involved the issuance of up to 15 million newly issued Class A ordinary shares to the seller. Additionally, Kaixin Holdings has effected a 1-for-15 share consolidation, which was approved by shareholders. As a result of this consolidation, an additional 14 million Class A ordinary shares will be issued to the seller, to be held in escrow and released based on five-year performance targets. This report also includes standard forward-looking statements and disclaimers, noting that actual results may differ due to various risks and uncertainties detailed in previous filings.