EX-99.25 2 kxinwdelistreason.txt Delisting Determination,The Nasdaq Stock Market, LLC, June 24, 2019, Kaixin Auto Holdings. The Nasdaq Stock Market, Inc. (the Exchange) has determined to remove from listing the warrant of Kaixin Auto Holdings (the Company), effective at the opening of the trading session on July 5, 2019. Based on review of information provided by the Company, Nasdaq Staff determined that the Company no longer qualified for listing on the Exchange pursuant to Listing Rule IM-5101-2. The Company was notified of the Staffs determination on May 31, 2019. The Company did not appeal the Staff determination to the Hearings Panel, and the Staff determination to delist the Company became final on June 11, 2019.