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Xiao-I Corporation, a leading cognitive artificial intelligence enterprise in China, announced its unaudited financial results for the full year ended December 31, 2022. Net revenues increased 48% year over year to a record-high of US$48.2 million, and gross profit increased 42% year over year to US$30.8 million. In March 2023, the company closed its initial public offering of 5,700,000 American Depositary Shares at a price of US$6.85 per ADS. The proceeds of almost US$39 million added strength and flexibility for implementing the company’s growth strategies.
