Kaixin set to purchase 55% ownership in XINGCAN
Partnership Announcement: Kaixin (NASDAQ: KXIN) has signed a term sheet to acquire a 55% stake in Chinese AI education company XINGCAN, marking a significant collaboration in the education sector.
Focus on AI and Education: The partnership aims to enhance the "AI + Education + Live Streaming" ecosystem, leveraging technology, content, and ecology to improve educational services, IP incubation, live broadcast operations, and AI integration.
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Bolt Projects Raises FY2026 Sales Guidance to $11 Million
- Sales Guidance Increase: Bolt Projects raised its FY2026 sales guidance from $9 million to $11 million, reflecting the company's confidence in future growth, which is likely to attract more investor interest.
- Fourth Quarter Sales Forecast: The company anticipates fourth-quarter sales of $2.7 million, and this positive outlook may further drive stock price increases, enhancing market confidence.
- Strong Stock Price Reaction: Bolt Projects' shares surged 28.2% to $1.73 in pre-market trading, indicating a bullish market sentiment towards the company's prospects, potentially drawing in more institutional investors.
- Market Dynamics Impact: The strong performance of Bolt Projects contrasts sharply with the volatility of other stocks, highlighting its relative strength in the current market environment, which may enhance its competitive position within the industry.
What Caused Kaixin Holdings (KXIN) to Surge More Than 21% in After-Hours Trading?
Stock Performance: Kaixin Holdings (KXIN) shares surged 21.61% in after-hours trading to $3.77, following a significant drop of 25.48% during the regular session, closing at $3.10.
Acquisition Agreement: The company announced a securities purchase agreement to acquire 100% equity in Zhejiang Ordinary Smile Auto Sales Co., Ltd. from Fangle Lai, with the deal involving up to $15 million in newly issued Class A ordinary shares.
Performance Milestones: The acquisition includes performance targets that require the target company to achieve rising annual revenues, starting from RMB 665 million ($94.2 million) in the first year to RMB 974 million ($137.9 million) by the fifth year.
Year-to-Date Decline: Despite the after-hours increase, KXIN shares are down 93.42% year to date, with a market capitalization of $3.53 million and a 52-week trading range of $2.94 to $75.
