XIAO-I Corporation American Depositary Shares - AIXI STOCK NEWS

Xiao-I (NASDAQ: AIXI) has provided an update on its VIE's ongoing patent infringement lawsuit against Apple. The case, filed by Shanghai Xiao-i Robot Technology Co., in the Shanghai High People's Court, alleges that Apple's Siri infringes on Shanghai Xiao-i's intelligent assistant patent (ZL200410053749.9). The trial, which began on August 3, 2020, has officially concluded on July 31, 2024, with a verdict pending.

Key developments include:

• Shanghai Xiao-i filed for an injunction against Apple in September 2021
• Apple filed a countersuit in February 2023
• The Beijing Intellectual Property Court upheld the validity of Shanghai Xiao-i's patent on June 28, 2024

This lawsuit is significant for Xiao-I, as it conducts most of its operations through Shanghai Xiao-i, its variable interest entity in China.

Xiao-I (NASDAQ: AIXI), a leading AI company, announces a change in its American Depositary Shares (ADS) ratio effective August 23, 2024. The new ratio will be 1 ADS to 3 ordinary shares, equivalent to a 1-for-9 reverse ADS split. This change affects ADS holders but not underlying ordinary shares. Uncertificated ADS holders in The Depository Trust Company will have their ADSs automatically exchanged. Citibank, N.A., the depositary bank, will manage the exchange process. Fractional new ADSs will be sold, with net proceeds distributed to applicable ADS holders. The ADS trading price is expected to increase proportionally, though this is not guaranteed.

Xiao-I (NASDAQ: AIXI) has successfully launched its Hearview Smart Glasses in the U.S. market. The event, streamed live on YouTube on August 8th, 2024, showcased this innovative product designed to assist individuals with hearing impairments. The smart glasses combine advanced auditory technology with AI to offer users a more connected and accessible experience.

CEO Hui Yuan emphasized the company's commitment to enhancing the quality of life for those with hearing challenges. The launch event replay is available on the official Hearview YouTube channel, along with a comprehensive review by a respected tech Key Opinion Leader, providing insights into the product's features and benefits.

Xiao-I (NASDAQ: AIXI), a leading AI company, has announced plans to change its American Depositary Shares (ADS) ratio from 1 ADS to one-third of an ordinary share to 1 ADS to 3 ordinary shares. This change, effective around August 23, 2024, will have the same effect as a one-for-nine reverse ADS split. The ADS ratio change will be automatic for uncertificated ADS holders in The Depository Trust Company (DTC).

No fractional new ADSs will be issued; instead, fractional entitlements will be sold, and net proceeds distributed to ADS holders. The company's ADSs will continue trading on Nasdaq under the symbol 'AIXI'. While the ADS trading price is expected to increase proportionally, Xiao-I cannot guarantee it will be equal to or greater than 9 times the pre-change price.

Xiao-I (NASDAQ: AIXI) has partnered with a leading telecommunications provider to deploy its advanced AI Chatbot solution in Q2 2024. This strategic collaboration aims to enhance customer service operations by improving service efficiency, reducing costs, and providing round-the-clock personalized support. Tailored for enterprise-level Maas (Model as a Service), Xiao-I's chatbot offers controlled responses, customization based on business needs, and rapid deployment. By automating repetitive tasks, the chatbot allows human agents to handle more complex issues, thus increasing overall service efficiency and customer satisfaction. The deployment on WhatsApp marks a significant advancement in customer service, setting a new industry standard.

Xiao-I (NASDAQ: AIXI) has entered a strategic partnership with a major government agency in Hong Kong to implement an advanced AI Chatbot solution. This collaboration aims to enhance the agency's customer service by addressing challenges such as complex policy explanations, high service demand, and multilingual communication needs. The AI chatbot will streamline processes, improve efficiency, and provide personalized responses. This integration is expected to reduce operational costs, improve response times, and offer 24/7 support, ultimately boosting overall customer satisfaction and service quality.

On June 20, 2024, Xiao-I (NASDAQ: AIXI) announced a significant contract with an international insurance provider based in China. This deal focuses on utilizing Xiao-I's advanced AI solutions to enhance operational efficiencies in the insurance sector. The contract includes three key AI products: Smart Outbound Call, AI Chatbot, and Intelligent Knowledge Management. These solutions aim to handle multilingual support, high inquiry volumes, data privacy, and 24/7 personalized support, thereby improving customer satisfaction and operational efficiency. Xiao-I's AI products are designed to streamline processes, reduce costs, and enhance the overall customer experience.

Xiao-I (NASDAQ: AIXI) announced the closing of a $3,260,870 Senior Convertible Notes Offering. The Notes, with an 8% Original Issue Discount, are convertible into the Company's ordinary shares as American Depositary Shares (ADS). Additionally, 1,000,002 ADS were offered at par, representing 333,334 ordinary shares, for gross proceeds of $2,994,945. After expenses, net proceeds were approximately $2,496,945. The funds will be used for working capital and general corporate purposes. FT Global Capital Inc. acted as the exclusive placement agent.

Xiao-I (NASDAQ: AIXI) has announced a securities purchase agreement with an institutional investor to issue and sell senior convertible notes valued at $3,260,870. The notes come with an 8% original issue discount and are convertible into Xiao-I's ordinary shares at $1.00 per ADS, bearing an interest rate of 6.0% per annum, which can increase to 15% during an event of default. The notes mature 360 days from issuance. Concurrently, Xiao-I is offering 1,000,002 additional ADS at par to facilitate conversion deliveries. The offering is expected to close around June 17, 2024, subject to customary conditions, with proceeds intended for working capital and corporate purposes.