Kaixin Holdings shares rose 106.19% to $2.32 Thursday morning after the Chinese automotive retail platform and investment holding company reported a 602% increase in revenue for the first half of 2026. The unaudited results were filed late Wednesday on Form 6-K, a report foreign issuers submit to the Securities and Exchange Commission, for the six months ended June 30. Revenue reached $667,000, up from $95,000 a year earlier, driven mainly by vehicle sales through its Hong Kong subsidiary, Jet Sound Hong Kong Company Limited. Gross profit was $23,000. Operating expenses fell to $2.0 million from $8.7 million, largely because general and administrative expenses declined by $6.7 million, including a $5.1 million reduction in recognized share-based compensation. The loss from operations narrowed 77% to $2.0 million, while net loss attributable to the company fell 77% to $1.9 million, or $1.3 million on an adjusted non-GAAP basis. Kaixin also disclosed substantial doubt about its ability to continue as a going concern, citing $9.3 million in current liabilities against $1.6 million in current assets. The company said stock consideration tied to its Aug. 26 agreement to acquire Hongkong Taohaoche Limited had lost more than 70% of its value since the deal was signed. Its board approved 10 million additional Class A ordinary shares for the seller on Sept. 3; the shares will remain in escrow and be released against performance targets over six years, creating potential dilution for existing shareholders. Kaixin’s market capitalization was $1.77 million, with a 52-week range of $0.54 to $832.50. Its Relative Strength Index was 17.30, while Wednesday volume reached 14.25 million shares, about 18 times the average of 792,180. The stock had fallen 99.68% over the prior 12 months, and Benzinga’s Edge Stock Rankings showed a negative price trend across all time frames.