According to Lei Di (touchweb), on March 9, Xiao-I robot (stock ticker: “AIXI”) was listed on Nasdaq in the United States, with an issue price of US$6.8, which is at the lowest end of the issue range of US$6.8 to US$8.8.

Xiao-I issued 5.7 million shares this time, raising a total of 38.76 million US dollars, which has shrunk from the initial fundraising scale.

The opening price of Xiaoi Robot was US$6.8 on the first day, which was the same as the issue price; The closing price was US$5.81, down 14.56% from the issue price; Based on the closing price, the company has a market capitalization of $420 million.

Yuan Hui, founder, chairman and CEO of Xiaoi Group, said at the listing ceremony: “Xiao-I’s goal is to create a Chinese version of ChatGPT. Currently, Xiao-I Robot has a cognitive intelligence platform independently developed by China and has its own intellectual property rights. Large-scale commercialization has been realized.”

However, the listing of Xiao-I Robot appears to be quiet this time, and the attention of the industry is relatively low. The Xiao-I robot is also relatively weak, and does not have enough strength to create a Chinese version of ChatGPT.

Founded in 2001, Xiao-I Robot has its own intellectual property rights of Cognitive Intelligence AI platform (CIAI), which combines natural language processing, speech processing, computer vision, machine learning, emotional computing and data six major technologies including intelligence and hyperautomation.

Xiao-I Robot has formed diversified products and industrial forms such as AI+contact center, AI+finance, AI+urban public service, AI+building, AI+metaverse, AI+manufacturing and AI+smart medical care.

The business of Xiaoi Robot mainly covers basic technology platforms, conversational robots, cloud services, industry solutions, robot solutions, etc.

According to the prospectus, the revenue of Xiao-I in 2020 was US$13.86 million and the net loss was US$7.06 million; In 2021, the revenue was US$32.52 million and the net profit was US$3.37 million.

In the first half of 2022, Xiao-I’s revenue was US$12.86 million and its net profit was US$590,000.

Before the IPO, Hui Yuan held 14.72% of the shares, Li Aini held 9.58% of the shares through AI Smart Holding Limited, Zhu Pinpin held 7.54% of the shares through PP Smart Holding Limited, and Alibaba held 6.6% of the shares through River Hill China Fund L.P. Geely holds 6.53% of the shares through Grand Glory (Hong Kong) Corporation Limited.

After the IPO, Hui Yuan held 13.5% of the shares, Li Aini held 8.79% of the shares through AI Smart Holding Limited, Zhu Pinpin held 6.92% of the shares through PP Smart Holding Limited, Alibaba held 6.05% of the shares through River Hill China Fund L.P, Geely holds 5.99% of the shares through Grand Glory (Hong Kong) Corporation Limited.