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BEIJING - Kaixin Holdings (NASDAQ:KXIN), a micro-cap company with a market value of $8.67 million, announced Monday the establishment of a Digital Asset Management Department focused on acquiring cryptocurrencies such as Bitcoin and Ethereum. According to InvestingPro data, the company’s stock has experienced significant volatility, falling over 96% in the past year.
The new department will raise funds to purchase digital assets and implement allocation strategies aimed at diversifying the company’s traditional business risks, according to a press release statement.
Kaixin, which describes itself as transitioning into an AI-driven tech business in China, said the cryptocurrency investments would provide "an efficient adjustment channel for corporate asset allocation" amid increasing economic complexity and volatility.
The company indicated it is exploring opportunities to introduce new strategic investors and acquire projects in the Web3 industry, with the goal of optimizing its equity structure and business system.
As of Monday, Kaixin Holdings has 27,258,228 ordinary shares outstanding, consisting of 22,158,228 Class A ordinary shares and 5,100,000 Class B ordinary shares.
The company’s current business focuses on developing and operating AI-driven online live streaming education platforms for domestic and international audiences.
In other recent news, Kaixin Holdings announced that its shareholders approved all resolutions at the company’s annual general meeting held on September 13, 2025. One of the key resolutions authorized the Board of Directors to implement a share consolidation within a predetermined range and amend the company’s Articles within 360 days of the shareholder vote. Additionally, Kaixin Holdings has signed a term sheet to acquire a 55% stake in XINGCAN, a Chinese AI education firm, through the issuance of new shares. This acquisition aims to develop a global "AI + Education + Live Streaming" ecosystem. The financial terms of the acquisition were not disclosed. These developments reflect Kaixin Holdings’ strategic initiatives to expand its business operations.
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