iFLYTEK Announces 2024 Semi-annual Performance Forecast Net Loss and Growth Expectations

TapTechNews July 6th news. iFLYTEK released the 2024 semi-annual performance forecast last night. It is expected that the company will have a net loss of 380 million to 460 million yuan in the first half of the year. The profit in the same period of the previous year was 73.572 million yuan, a decrease of 725.24% to 616.50% compared to the same period of the previous year.

iFLYTEK stated that in the first half of 2024, while the company was fully increasing the R & D investment in the Xinghuo Large Model, it also accelerated the implementation and promotion efforts of the large model. While the company actively adjusted the revenue structure, the operating revenue and gross profit in the first half of 2024 are expected to increase by 15%-20%, and the growth rate of gross profit is higher than that of revenue.

TapTechNews learned that in the first half of 2024, the gross profit of iFLYTEK increased by about 600 million yuan, and the net profit and non-deductible net profit decreased compared to the same period of the previous year. The main reasons are that: in the first half of 2024, the company added more than 650 million US dollars in new investment in R & D of large models, independent controllability of core technologies and controllability of the industrial chain, and industrial landing and expansion of large models.

In addition, other influencing factors also include that in the first half of 2023, the financial assets such as Sanrenxing and Cambricon held by the company obtained large investment income, and the investment income in the first half of 2024 decreased by about 140 million US dollars compared to the same period of the previous year; other income decreased by about 120 million US dollars compared to the same period of the previous year; and the bad debt provision increased by about 100 million US dollars compared to the same period of the previous year.