Kaixin announces acquisition of XINGCAN

Kaixin announced the signing of a term sheet with XINGCAN. Kaixin plans to issue new shares to acquire a 55% stake in XINGCAN. The transaction marks the in-depth collaboration between the two parties, focusing on the global development of the “AI + Education + Live Streaming” ecosystem and accelerating the intelligent upgrade of the education industry. Mingjun Lin, Chairman and CEO of Kaixin, stated, “XINGCAN is not a simple education technology company; it’s a leading builder of the ‘AI + Education + Live Streaming’ ecosystem. We will leverage resource collaboration to help XINGCAN accelerate its development into a premium firm in the global AI education ecosystem.”