Kaixin Holdings (formerly Kaixin Auto Holdings) is a Beijing-headquartered automotive retail platform operating in the People’s Republic of China. The company focuses on selling both domestically produced and imported automobiles, with an emphasis on premium/luxury brands. Its model centers on connecting car buyers to vehicles through a dealership network and ...Kaixin Holdings (formerly Kaixin Auto Holdings) is a Beijing-headquartered automotive retail platform operating in the People’s Republic of China. The company focuses on selling both domestically produced and imported automobiles, with an emphasis on premium/luxury brands. Its model centers on connecting car buyers to vehicles through a dealership network and retail operations, rather than functioning as a traditional automaker.
From an operational perspective, Kaixin has built a dealership footprint that (as of the end of 2021, per the company description) included 14 used car dealerships across 14 cities in 12 Chinese provinces. The company’s offering spans a range of luxury marques—such as Audi, BMW, Mercedes-Benz, Land Rover, Bentley, Rolls-Royce, and Porsche—indicating a strategy concentrated on higher-end consumer demand in the used-car and imported-car categories.
Beyond vehicle sales, Kaixin facilitates financing solutions for customers and its affiliated dealers. It does this by leveraging partnerships with financial institutions, aiming to improve purchase completion rates and expand addressable demand—an important lever in retail automotive, where affordability and credit availability directly affect conversion.
In terms of financial and cost considerations, the available TTM metrics in the supplied dataset suggest profitability pressure (e.g., negative margins and cash flow metrics). For a retail-dealership and inventory-intensive business, working capital, inventory turnover, and fleet/vehicle acquisition costs (including logistics, refurbishment/reconditioning, and dealer support) are typically major cost drivers. While specific bill-of-materials (BOM) details are not provided, the business inherently involves costs associated with sourcing vehicles, maintaining inventory, and operating sales/after-sales processes, alongside overhead.
The leadership team is led by CEO Mingjun Lin, who has served as CEO since December 2020 and previously as chairman of the board. As of the most recent employee figures provided (13 in 2025; 19 in 2024; 23 in 2023; 27 in 2022), Kaixin is a small organization by headcount, consistent with an asset-light coordination and platform-style approach supported by dealership operations.
Overall, Kaixin seeks growth in China’s premium used-car market and imported new-car demand, using its brand/product positioning, dealership network coverage, and financing facilitation to capture customer needs. Key “wish” or strategic priorities for such a business typically include improving unit economics, strengthening inventory management and turnover, and expanding financing accessibility—particularly during periods of margin volatility.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$129000
—
-28.4%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-53.9M
-31.6%
-440.9%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
-3030.2%
—
-3250.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-24489.9%
—
-635.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-41788.4%
—
-655.7%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-2.6M
+15.0%
+25.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-2002.3%
—
-4.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
3.7%
-54.9%
+171.8%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.11x
-65.3%
-21.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.