HANGZHOU, China, Nov. 14, 2024 — Kaixin Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) today announced that it is exploring new growth opportunities by evaluating strategic alternatives. Kaixin is considering acquiring a controlling equity interest in a leading cryptocurrency mining company located in the Middle East. This mining company utilizes cost-effective Bitcoin mining machines and provides both self-mining and sophisticated, end-to-end cloud hosting services to meet the growing demands of the crypto mining industry. The facility’s secure and stable energy supply ensures operational resilience and cost efficiency, reflecting Kaixin’s commitment to sustainable and profitable growth.

About Kaixin Holdings

Kaixin Holdings is a leading new energy vehicle manufacturer in China, boasting experienced teams in R&D, production, marketing, and production facilities equipped for stamping, welding, painting, and assembly operations. Kaixin produces a range of electric passenger and logistics vehicle models. The Company aims to establish a competitive international market presence through a blend of online and offline activities and diversified business operations. Guided by its expert teams and driven by innovation and sustainability, Kaixin strives to contribute to achieving the goals of “peak carbon emissions and carbon neutrality”.

Safe Harbor Statement

This announcement may include forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words like “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” or similar expressions. Statements that are not historical facts, including statements about Kaixin’s beliefs and expectations, are forward-looking statements. Such statements involve inherent risks and uncertainties. Several factors could cause actual results to differ significantly from those in any forward-looking statement, including but not limited to: 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 announcement and in the attachments is as of the date of this announcement, 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 Holdings

Investor Relations

Email: ir@kaixin.com