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Stock impact report

Kaixin Auto Holdings Announces Receipt of Nasdaq Notification Letter and Subsequent Resolution

Kaixin Auto Holdings - Ordinary Shares (KXIN) 
Company Research Source: GlobeNewswire
BEIJING, April 14, 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 the receipt of a notification letter (the “Nasdaq Letter”) dated April 7, 2020 from the Listing Qualifications department of the Nasdaq Stock Market (“Nasdaq”) and the subsequent resolution of the matter described in the Nasdaq Letter on April 13, 2020. The Nasdaq Letter indicated that, as a result of the resignation of Mr. Sing Wang from the Company’s board and audit committee (which the Company announced on April 7, 2020), the Company was not in compliance with Nasdaq’s audit committee requirements as set forth in Listing Rule 5605, but the Company was provided with a cure period consistent with Listing Rule 5605(c)(4). On April 10, 2020, the Company submitted a home country practice attestation letter to Nasdaq, detailing its status as an exempted company incorporated in the Show less Read more
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