Kaixin Holdings reported zero revenue in H1 2024, down from $18.9M in H1 2023, as the company transitions from domestic used car sales to EV exports. Net loss widened to $5.4M from $4.5M YoY, while operating loss increased to $5.7M from $4.1M.Operating expenses rose to $5.7M from $4.2M YoY, primarily due to increased general and administrative expenses of $4.9M, including a $1.1M amortization charge. The company's cash position declined to $0.6M as of June 30, 2024, from $2.1M at year-end 2023.The company's strategic shift focuses on exporting electric vehicles to Southeast Asia and other markets. Management secured financial support commitments from major shareholders and believes the company will continue as a going concern for the next 12 months despite current challenges.

Kaixin Holdings reported zero revenue in H1 2024, down from $18.9M in H1 2023, as the company transitions from domestic used car sales to EV exports. Net loss widened to $5.4M from $4.5M YoY, while operating loss increased to $5.7M from $4.1M.Operating expenses rose to $5.7M from $4.2M YoY, primarily due to increased general and administrative expenses of $4.9M, including a $1.1M amortization charge. The company's cash position declined to $0.6M as of June 30, 2024, from $2.1M at year-end 2023.The company's strategic shift focuses on exporting electric vehicles to Southeast Asia and other markets. Management secured financial support commitments from major shareholders and believes the company will continue as a going concern for the next 12 months despite current challenges.