BEIJING, Aug. 16, 2022 (GLOBE NEWSWIRE) — Kaixin Auto Holdings (“Kaixin” or the “Company”) (NASDAQ: KXIN) declares at present that it has signed a strategic partnership settlement with National Kangyuan Technology Co., Ltd. (“National Kangyuan“), which commits to buy 5,000 new power automobiles customized made for public well being providers over the following three years. The whole quantity of this intention order is about RMB 2 billion (equal to USD$295 million).
As an organization specialised in sensible medical testing, National Kangyuan offers a full vary of well being administration providers in China together with testing and analysis, and well-liked science schooling, contributing to the development and reform of the nationwide well being system via its involvement within the Healthy Villages and Cell Engineering initiatives. Its business primarily entails routine bodily examinations, continual illness screening, and different public well being providers. The medical automobiles ordered from Kaixin shall be mounted with clever testing tools that gives excessive mobility to its medical employees to gather and course of medical information that might be built-in into the nationwide well being system. China’s “14th Five-Year” National Health Plan goals to considerably improve the nation’s public well being service capability by 2025, which is predicted to generate greater demand for the sorts of services supplied by National Kangyuan.
Mr. Wu Liang, common supervisor of Kaixin’s new power automobile business division, stated: “This is the first major business order Kaixin has obtained after the launch of the TECROLL brand, which demonstrates that Kaixin’s strategic focus on new energy commercial vehicles has gained increasing customer recognition. We will continue our efforts on in-depth mining and recruiting of industrial customers.”
About Kaixin Auto Holdings
Kaixin Auto Holdings is likely one of the major dealership networks within the premium used automobile phase and new automobile gross sales in China. Supported by the speedy progress of China’s used automobile market and leveraging its personal hybrid business mannequin that provides each sturdy on-line and offline presence, Kaixin is within the course of of reworking from a nationwide dealerships community to one of many necessary gamers in China’s electrical automobile market.
Safe Harbor Statement
This announcement might include forward-looking statements. These statements are made below the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements will be recognized by terminology similar to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and related statements. Among different issues, the business outlook for 2021 and quotations from administration on this announcement, in addition to Kaixin’s strategic and operational plans, include forward-looking statements. Kaixin can also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission (“SEC”), in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Statements that aren’t historic info, together with statements about Kaixin’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties. Quite a lot of components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: our targets and methods; our future business improvement, monetary situation and outcomes of operations; our expectations concerning demand for and market acceptance of our providers; our expectations concerning the retention and strengthening of {our relationships} with auto dealerships; our plans to reinforce person expertise, infrastructure and repair choices; competitors in our business in China; and related authorities insurance policies and laws referring to our business. Further info concerning these and different dangers is included in our different paperwork filed with the SEC. All info offered on this press launch and within the attachments is as of the date of this press launch, and Kaixin doesn’t undertake any obligation to replace any forward-looking assertion, besides as required below relevant legislation.
For extra info, please contact:
Kaixin Auto Holdings
Investor Relations
Email: [email protected]
SOURCE: Kaixin Auto Holdings
