Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Research Coverage on Small and Micro-Cap Companies

Equity Bottom-Up

<ul><li>On August 23rd, Xiao-I (NASDAQ: AIXI) adjusted the exchange ratio for the company's ADSs from 1 ADS representing 1/3 of an ordinary share to 1 ADS representing 3 ordinary shares.</li><li>This adjustment was effectively the same as a 1-for-9 reverse split of the ADS.</li><li> The company continues to have success with its core products but we think the adoption of new tools could be slower than expected as the market matures.</li></ul>

On August 23rd, Xiao-I (NASDAQ: AIXI) adjusted the exchange ratio for the company's ADSs from 1 ADS representing 1/3 of an ordinary share to 1 ADS representing 3 ordinary shares.This adjustment was effectively the same as a 1-for-9 reverse split of the ADS. The company continues to have success with its core products but we think the adoption of new tools could be slower than expected as the market matures.

AIXI: Adjusting our valuation target due to the ADS ratio change.

Xiao I

AIXI: Adjusting our valuation target due to the ADS ratio change.