Kaixin Auto Holdings Announces Change to its Board Members

BEIJING, April 07, 2020 (GLOBE NEWSWIRE) -- Kaixin Auto Holdings ("Kaixin" or the "Company") (NASDAQ: KXIN), one of the primary dealership networks in the premium used car segment in China, today announced that Sing Wang, has resigned from Kaixina??s board of directors, effective April 1, 2020, in order to focus on other business obligations.
Mr. Wang has served as chairman of the Nominating and Corporate Governance Committee and a member of the Audit Committee since Kaixin Auto Group consummated its business combination with CM Seven Star Acquisition Corporation through a share exchange, on April 30, 2019."On behalf of my fellow directors, the Company's management team, and shareholders, I'd like to thank Sing for the significant contributions he made during his service on Kaixin's Board," said Mr. Joseph Chen, chairman of Kaixin. "Sing's financial acumen and experience with complex corporate restructuring efforts brought invaluable insight to our organization during the Company's formation, and the last twelve months of productive operation. We wish him the best in his future endeavors."About Kaixin Auto HoldingsKaixin Auto Holdings is one of the primary dealership networks in the premium used car segment 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.