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    1810   KYG9830T1067

XIAOMI CORPORATION

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German-Chinese startup Agile Robots raises $220 million from investors

09/09/2021 | 11:07am EDT

BERLIN (Reuters) - German-Chinese startup Agile Robots said on Thursday that it had raised $220 million from investors led by the SoftBank Vision Fund 2 and would invest the proceeds in expanding its production and sales operations.

The investment round valued Agile Robots, which has dual headquarters in Munich and Beijing, at more than $1 billion - adding it to the growing ranks of technology startups with so-called "unicorn" status.

Founded in 2018, Agile Robots provides both software and hardware - including a five-fingered robot than can serve as a 'smart assistant' in settings such as assembling smartphones or providing health treatment.

"Agile Robots realistically brings the next generation of robots into industrial intelligent precision assembly areas and medical treatment scenarios that could previously only be carried out by humans," said founder and CEO Zhaopeng Chen.

"With the excellent support from our well-known investors and customers, we are confident that we will lead robotics into a new era."

Also participating in the Series C venture capital round were financial investors Abu Dhabi Royal Group, Hillhouse Ventures, Sequoia Capital China and Linear Capital.

Strategic investors included Xiaomi Group, Foxconn Industrial Internet and Midas, founded by former executives at Foxconn, which assembles devices including the Apple iPhone.

(Reporting by Nadine Schimroszik, Writing by Douglas Busvine; Editing by Keith Weir)


© Reuters 2021
Stocks mentioned in the article
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APPLE INC. 1.18% 146.55 Delayed Quote.10.45%
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SOFTBANK GROUP CORP. -0.83% 6238 End-of-day quote.-22.59%
XIAOMI CORPORATION 0.47% 21.35 End-of-day quote.-35.69%
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Analyst Recommendations on XIAOMI CORPORATION
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Financials
Sales 2021 342 B 53 130 M 53 130 M
Net income 2021 21 949 M 3 414 M 3 414 M
Net cash 2021 62 584 M 9 733 M 9 733 M
P/E ratio 2021 18,7x
Yield 2021 -
Capitalization 441 B 68 552 M 68 566 M
EV / Sales 2021 1,11x
EV / Sales 2022 0,86x
Nbr of Employees 26 110
Free-Float 58,4%
Chart XIAOMI CORPORATION
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Xiaomi Corporation Technical Analysis Chart | 1810 | KYG9830T1067 | MarketScreener
Technical analysis trends XIAOMI CORPORATION
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 34
Last Close Price 17,65 CNY
Average target price 27,34 CNY
Spread / Average Target 54,9%
EPS Revisions
Managers and Directors
Jun Lei Chairman & Chief Executive Officer
Xiang Wang President
Alain Lam Chief Financial Officer
Yan Qi SVP-Internal Operations & Public Affairs
Dong Sheng Chen Independent Non-Executive Director
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