iFLYTEK's Stock Price Fluctuation and Company Updates
TapTechNews August 12th news, the stock price of iFLYTEK (-002230) staged a'sudden collapse' today, falling by nearly 6% at one point. By the close, the decline narrowed to 3.31%, and currently the total market capitalization of the company's stock is 82.991 billion Chinese yuan. ($11.7 billion).
In this regard, the media 'Jiemian News' contacted the investor relations department of iFLYTEK. The person from the relations department said that the company's operations are all normal. Regarding the so-called investor who said that 'many businesses of Huawei will terminate cooperation with iFLYTEK', the relations department said 'We don't know where this information was seen from. We maintain a long-term and good cooperation with the company (Huawei) you mentioned.'.
Referring to the 2024 semi-annual performance forecast released by iFLYTEK on July 6, it is expected that the company will have a net loss of 380 million yuan to 460 million yuan in the first half of the year, compared with a profit of 73.572 million yuan in the same period of the previous year, a decrease of 725.24% to 616.50% compared with the same period of the previous year.
iFLYTEK stated that in the first half of 2024, while the company was fully increasing its R & D investment in the 'Xinghuo Large Model of iFLYTEK', it also accelerated the landing and promotion efforts of the large model. While the company was actively adjusting the revenue structure, the operating income 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 the growth rate of income.
TapTechNews learned that in the first half of 2024, the gross profit of iFLYTEK company increased by about 600 million yuan, and the net profit attributable to the parent company and the non-recurring profit and loss decreased compared with the previous year. The main reasons are: In the first half of 2024, in terms of R & D of the large model and the autonomy and controllability of core technologies and the controllability of the industrial chain, as well as the expansion of the industrial landing of the large model, the new investment exceeded $92 million..