iFLYTEK's 2024 First-Half Performance Revenue Growth, Net Loss, and Future Prospects

TapTechNews August 21st news, iFLYTEK announced its first-half 2024 performance today, and TapTechNews summarizes as follows:

Revenue was 9.325 billion yuan, an increase of 18.91% year-on-year;

The net profit attributable to shareholders of the listed company was -401 million yuan. Last year at the same time, it was a profit of 73.57 million yuan, turning into a loss with a year-on-year decrease of -644.59%.

The company's net cash flow was -1.191 billion yuan, a decrease of 81.76% year-on-year, among which the operating cash flow was -1.536 billion yuan, a decrease of 0.45% year-on-year.

Educational products and services achieved revenue of 2.86 billion yuan, an increase of 25.14% year-on-year;

The smart healthcare business achieved revenue of 228 million yuan, an increase of 18.80% year-on-year;

The open platform achieved revenue of 2.345 billion yuan, an increase of 47.92% year-on-year;

The smart hardware achieved revenue of 900 million yuan, an increase of 56.61% year-on-year;

The smart car business achieved revenue of 35.2 million yuan, an increase of 65.49% year-on-year.

iFLYTEK stated that the gross profit increased by 601 million yuan in the first half of the year, and the non-recurring profit after deduction decreased by 179 million yuan compared to the previous year. The main reason is that the company actively seized the historical new opportunity of general artificial intelligence. In the first half of the year, in terms of large model research and development, independent control of core technologies and controllability of the industrial chain, as well as the expansion of large model industrial landing, more than 650 million US dollars was newly invested, affecting the company's short-term operating performance.

In addition, iFLYTEK also released an announcement tonight stating that some senior executives plan to increase the company's shares by means of centralized bidding transactions, and the total increase amount is not less than 20 million US dollars (the implementation period of the increase plan is within 6 months from the date of the release of the company's 2024 semi-annual report).