Kaixin Auto Holdings (KXIN.US) temporarily granted Nasdaq exemption, plans reverse stock split to re-comply with minimum stock price requirements.

21:20 13/09/2024

Happy Car has received a temporary exemption from the Nasdaq stock market in order to comply with the minimum purchase price requirement in its listing rules.

Chinese new energy vehicle manufacturer Kaixin Auto Holdings (KXIN.US) has been granted temporary relief by the Nasdaq stock market to reestablish compliance with the minimum bid price requirement in its listing rules. The company is planning to hold a special shareholder meeting on October 1, 2024, to obtain approval from shareholders for a reverse stock split plan. The objective of this plan is to complete the stock split by November 30, 2024, and ensure compliance with Nasdaq's bid price rules by December 13, 2024. If Kaixin Auto Holdings fails to regain compliance by this deadline, its securities may face the risk of delisting.

China Securities Co., Ltd.: Hong Kong stock market is undergoing a midterm adjustment rather than coming to an end. Seize the opportunity to go long for the first time this year.

Hon Hai's Q1 revenue increased by 29.68% compared to the same period last year. It is expected that Q2 sales will increase both sequentially and year-on-year.

EB SECURITIES: Shanghai Electric Group (02727) continues to make breakthroughs in emerging industries such as 25 years of nuclear fusion and Siasun Robot & Automation. We maintain a "buy" rating.

China Securities Co., Ltd.: Hong Kong stock market is undergoing a midterm adjustment rather than coming to an end. Seize the opportunity to go long for the first time this year.

Hon Hai's Q1 revenue increased by 29.68% compared to the same period last year. It is expected that Q2 sales will increase both sequentially and year-on-year.

EB SECURITIES: Shanghai Electric Group (02727) continues to make breakthroughs in emerging industries such as 25 years of nuclear fusion and Siasun Robot & Automation. We maintain a "buy" rating.