iFLYTEK Announces H1 2021 Financial Results

Technology Author: EqualOcean News, Yuchen Fu Aug 24, 2021 04:32 PM (GMT+8)

During the six months through June, the company generated CNY 6.3 billion in revenue, with a year-on-year increase of 45.3%.


According to iFLYTEK's H1 2021 financial announcement:

- Revenue rose by 45.3%, reaching CNY 6.3 billion.

- Net profit hit CNY 419 million, representing a growth of 62.1%.

- In H1 2021, the revenue of software and information technology service business was CNY 6.2 billion (up 45.8%), accounting for 98.0% of total revenue; its education and teaching business generated CNY 106 million (up 32.3%), taking up 1.7%; income from other businesses reached CNY 19.4 million (down 8.4%), making up 0.3%.

- Among the firm's major businesses, consumer business accounted for the highest proportion of revenue (29.8%), following by education (29.1%).

- For its education business, the revenue of education products and services recorded CNY 1.7 billion, showing a growth of 31.5%.

- For its smart medical business, the revenue of medical business hit CNY 99.9 million, representing an increase of 34.1%.

- For its smart cities business, the revenue of information engineering reached CNY 974 million, with a year-on-year growth of 3.9%; smart political and law industry applications generated CNY 288 million, indicating an increase of 30.5%; revenue from digital government-industry application recorded CNY 267 million, showing a rise of 74.7%.

- At the same time, iFLYTEK's operating costs reached CNY 3.6 billion, showing an increase of 53.3%; its sales expenditure hit CNY 996 million, with a rise of 22.1%; the company's administrative expenses were CNY 415 million, indicating a growth of 28.3%; its R&D expenditure was CNY 1.2 billion, representing an increase of 27.4%.