Kaixin Auto Holdings Announces Appointment of New Auditor
November 05 2019 - 6:00AM
Kaixin Auto Holdings (NASDAQ: KXIN) (“Kaixin” or the “Company”), a
leading premium used car dealership network in China, today
announced the appointment of KPMG Huazhen LLP ("KPMG") as the
Company's new independent registered public accounting firm,
effective November 5, 2019.
The appointment of KPMG was made after a careful
and thorough evaluation process and has been approved by the
Company's audit committee.
Renren, Kaixin’s corporate parent, has also
appointed KPMG as its independent registered public accounting
firm, replacing Deloitte Touche Tohmatsu Certified Public
Accountants LLP (“Deloitte”), also effective November 5, 2019.
About Kaixin Auto Holdings
Founded in 2015 as a venture into China’s used
car financing market by its corporate parent Renren Inc., Kaixin
Auto Holdings operates a leading premium used car dealership
network 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
from a tech-enabled financing platform into a nationwide dealer
network that combines its own and affiliated dealers as well as
value-added and after-sale services. Kaixin's ordinary shares trade
on NASDAQ under the symbol "KXIN."
Important Notice Regarding
Forward-Looking Statements
This release may contain forward-looking
statements within the meaning of the U.S. federal securities laws.
These forward-looking statements generally can be identified by
phrases such as that we or our members of management “believe,”
“expect,” “anticipate,” “foresee,” “forecast,” “estimate” or other
words or phrases of similar import. Specifically, these statements
include, among other things, statements that describe our
expectations for the growth of our business, expansion into new
geographic markets, maintaining and expanding our relationship with
key retail partners, the financial impact of new sales contracts on
our revenue, our plan to make significant capital expenditure, and
other statements of management’s beliefs, intentions or goals. It
is uncertain whether any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of
them do, what impact they will have on our results of operations,
financial condition, or the price of our ordinary shares. These
forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ materially from those
indicated in such forward-looking statements, including but not
limited to our ability to penetrate and increase the acceptance of
our product in new geographic markets; to perform our agreements
with customers and further develop our relationships with key
retail partners; our ability to recognize revenue from our
contracts; continued competitive pressures in the marketplace; our
reliance on a few customers for a substantial part of our revenue;
our ability to implement our plans, forecasts and other
expectations with respect to our business and realize additional
opportunities for growth; and the other risks and important factors
contained and identified in our filings with the Securities and
Exchange Commission. All forward-looking statements attributable to
us or to persons acting on our behalf are expressly qualified in
their entirety by these risk factors. Since we operate in an
emerging and evolving environment and new risk factors and
uncertainties emerge from time to time, you should not rely upon
forward looking statements as predictions of future events. Except
as required under the securities laws of the United States, we
undertake no obligation to update any forward-looking or other
statements herein to reflect events or circumstances after the date
hereof, whether as a result of new information, future events or
otherwise.
For more information, please visit:
http://ir.kaixin.com
For investor and media inquiries, please
contact:
Kaixin Auto HoldingsLei SongTel: (86 10) 8448
1818 ext. 2111Email: kaixin.ir@renren-inc.com
The Piacente Group, Inc.Ross WarnerTel: +86
(10) 6508-0677Email: Kaixin@tpg-ir.com
Jason FinklesteinTel: +1 (212) 481-2050Email:
Kaixin@tpg-ir.com
Source: Kaixin Auto Holdings
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