(RTTNews) - Kaixin Holdings (KXIN), an investment holding company, on Wednesday announced plans to issue new shares to acquire a 55% stake in XINGCAN.
The transaction marks an expansion of 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.
XINGCAN has established a position in AI education by integrating live streaming with teaching, operating a full-chain ecosystem from content production to user growth and serving over 300,000 users annually
Kaixin Chairman and CEO Mingjun Lin said the partnership will leverage Kaixin's platforms and global channels to accelerate XINGCAN's growth into a premium global AI education firm, targeting 50% annual growth under a "three-year triple jump" strategy.
In the pre-market trading, Kaixin Holdings is 7.14% higher at $0.9180 on the Nasdaq.
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