iFLYTEK Reports 62% Increase in H1 2021 Net Profit

HEFEI, China, Sept. 13, 2021 /PRNewswire/ -- On August 24, iFLYTEK released its 2021 semi-annual financial report which showed the company's continuous improvement in performance. There has been progress in key areas including smart education and smart healthcare. The company's Open Platform is rapidly developing and its product strategy of "Open Platform + Diversification" has been producing remarkable results.

iFLYTEK achieved a year-on-year increase of 45%; 62% growth within one year; and a net profit excluding non-recurring gains and losses, rising by 27 times yearly. By pursuing a product strategy of "Open Platform + Diversification", iFLYTEK's Open Platform generated growth of 132%.

The smart education and smart healthcare sectors have both seen over 30% increases. The smart education business reported an increase of 76% in its accepted contract amount while the smart healthcare business further improved its products business models.

Additionally, the business of smart hardware for office work and education increased by 77% and the smart on-vehicle device business grew by 74%, emerging as growth points among the diversified AI products and solutions industries.

iFLYTEK's smart education and healthcare business continue to deliver value

At the performance briefing, iFLYTEK's Chairman Liu Qingfeng explained that the emphasis on teaching in accordance with students' aptitudes is part of a strategy for success that utilizes a systematic approach in the implementation of its management mechanism and educational philosophy.

The overall accepted contract amount of iFLYTEK's smart education business increased by 76% year-over-year in the first half. Its revenues in the same period were up 31%. The growth in iFLYTEK's smart education is increasing at an expedient rate and continues to be an area of large potential.

Additionally, iFLYTEK's smart healthcare business has been improving the capabilities of doctors and achieving a greater distribution of medical resources. According to the financial report, iFLYTEK's AI Medical Assistant has been adopted in over 30,000 local medical institutions and serving more than 50,000 grassroots doctors; assisting in more than 200 million diagnoses. Over the first half of 2021, the company's smart healthcare business was up by 34% year-over-year.

As iFLYTEK continues to grow and expand, the company will continue along its guiding principles of teaching in accordance to aptitudes and improving healthcare through AI integration. iFLYTEK is committed to adding values in areas of societal importance and following a direction of future development and consistent breakthroughs.

SOURCE iFLYTEK