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KXIN

Kaixin Auto Holdings

KXIN

Kaixin Auto Holdings • NASDAQ
$0.12 ▼ -15.49% (-0.02)
Market Cap $1.51 M
52w High $75.00
52w Low $0.11
Dividend Yield 0%
P/E 0
Volume 3.66M
Outstanding Shares 12.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $47.5K $4.396M $-8.411M ▼ -17.707K% ▼ $-0.68 ▼ $-2.486M ▲
Q1-2025 $47.5K ▲ $4.396M ▼ $-4.205M ▲ -8.854K% ▼ $-0.34 ▲ $-3.362M ▲
Q4-2024 $0 $13.396M ▲ $-35.602M ▼ 0% $-39.9 ▼ $-11.789M ▼
Q3-2024 $0 $6.698M ▲ $-17.801M ▼ 0% $-7.9 ▼ $-6.077M ▼
Q2-2024 $0 $3.883M $-5.37M 0% $-6.02 $-4.504M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $552K $20.774M $9.668M $11.106M
Q1-2025 $552K ▼ $20.774M ▼ $9.668M ▼ $11.106M ▼
Q4-2024 $2.388M $24.645M $11.471M $13.173M
Q3-2024 $2.388M ▲ $24.645M ▼ $11.471M ▼ $13.173M ▼
Q2-2024 $628K $64.6M $15.358M $45.892M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-4.205M $-1.478M ▼ $1K ▲ $-356K ▼ $-1.836M ▼ $-739K
Q1-2025 $-4.205M ▲ $-739K ▲ $500 ▲ $-178K ▼ $0 $-739K ▲
Q4-2024 $-17.801M $-791K $-21K $2.255M $0 ▲ $-800K
Q3-2024 $-17.801M ▼ $-791K ▼ $-21K ▼ $2.255M ▲ $-628K ▼ $-800K ▼
Q2-2024 $-2.685M $-719K $8K $0 $628K $-719K

Five-Year Company Overview

Income Statement

Income Statement Kaixin’s income statement shows a business that has not yet found a stable source of revenue in recent years. Sales have been very small and inconsistent, while expenses have stayed meaningfully higher than what the company brings in. This leads to ongoing operating losses and net losses year after year. The pattern suggests a company still in transition, with legacy operations largely faded and new activities not yet generating meaningful sales. Earnings per share look extremely negative, partly because of repeated dilution and reverse splits, but the underlying story is simple: the core business has not yet become profitable, and the turnaround has not yet shown up in the income statement.

Balance Sheet

Balance Sheet The balance sheet is very light, with only a small base of total assets and equity. Cash levels have been minimal, and the company appears to operate with a very thin financial cushion. There is some debt in the structure, though not large in absolute terms, but it matters more because the asset base is so small. Overall, this looks like a fragile financial position. The company has limited resources to absorb setbacks, invest aggressively, or ride out long delays in its strategic pivot. Any large investment or expansion likely depends on fresh capital or partnerships, not on existing balance sheet strength.

Cash Flow

Cash Flow Reported cash flow figures are effectively flat, which likely reflects either immaterial operating scale or a lack of detailed disclosure rather than a healthy, self-funding business. There is no sign of strong, recurring cash inflows from operations, nor of meaningful internal funding for growth. In practical terms, this suggests the business is not yet funding itself and may rely on external financing, equity issuance, or partners to support its plans. Until the new strategy starts to generate steady sales and margins, cash flow is a key vulnerability.

Competitive Edge

Competitive Edge Kaixin is trying to move from being a used car dealer to becoming a player in electric vehicles and automotive technology. In doing so, it is entering one of the most competitive markets in China, going up against established EV brands, deep-pocketed tech companies, and fast-moving startups. The company’s possible edge lies in partnerships: using outside AI and autonomous driving technology, focusing on niches like electric logistics trucks, and exploring differentiated in-car experiences. However, these are early-stage efforts. With limited scale, weak finances, and no proven hit product yet, its competitive position is still emerging and fragile rather than firmly established.

Innovation and R&D

Innovation and R&D Innovation at Kaixin is driven more by collaboration than by huge in-house research budgets. The planned joint venture with an AI firm for high-level autonomous driving, the acquisition of an AI animation company, and the launch of the “TECROLL” new energy truck brand all point to a strategy of stitching together capabilities from partners. Conceptually, this could create interesting products: smarter commercial EVs, more engaging infotainment systems, and possibly AI-enhanced consumer vehicles. The company has also talked about digital asset activities, which adds another experimental layer. The risk is that these initiatives are spread across several complex areas at once, while financial resources and execution capacity are limited. The innovation story is bold, but still very unproven.

Summary

Kaixin Auto is in the middle of a high-risk reinvention. The historic business has almost no meaningful revenue today, losses are recurring, and the balance sheet is very thin. Financially, this is an early-stage, capital-constrained story rather than a mature, cash-generating company. Strategically, Kaixin is reaching for a future in electric vehicles and AI: logistics trucks, autonomous driving via partners, and differentiated in-car experiences. If executed well, these could carve out niches in a crowded market, but the company is starting from a small base, facing intense competition, and must prove it can turn ambitious plans into reliable sales and cash flow. Overall, the picture is one of significant execution and funding risk alongside upside that is tied to successful delivery of new EV products, effective use of partnerships, and visible improvement in the financial statements over time.

NEWS

November 25, 2025 · 4:15 PM UTC

Kaixin Holdings Announces Share Consolidation

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October 6, 2025 · 7:30 AM UTC

Kaixin Holdings Establishes Digital Asset Management Department and Launches Digital Asset Allocation Strategy

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September 16, 2025 · 4:00 PM UTC

Kaixin Holdings Announces Annual General Meeting Results

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September 10, 2025 · 8:30 AM UTC

Kaixin Holdings Announces Acquisition of XINGCAN, Launching AI Education Business

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