IFLYTEK: in the first half of the year, the epidemic hit hard, but the new infrastructure provided a stage and opportunity

Sina science and technology news on August 21 evening news, iFLYTEK released the first half of 2020 annual report, the report shows that the first half of 2020 revenue of 4.349 billion yuan, compared with the same period last year of 4.243 billion yuan, a year-on-year growth of 2.86%; the first half of the net profit of 258 million yuan, a year-on-year increase of 36.28%. At the follow-up performance presentation meeting, Jiang Tao, senior vice president of iFLYTEK and Dong MI, said that the impact of the epidemic on the company in the first quarter of this year was quite big. Since iFLYTEK was listed for more than 10 years, it was the first time that quarterly losses occurred. However, with the gradual implementation of online bidding in March, the newly added contract amount in March increased by 91% year-on-year. In the past of the second quarter, at present, it is basically in line with the company’s expectation in April, and all business activities of the company have returned to normal. Jiang Tao also said frankly that during the epidemic period, the pressure on the company’s cash flow management was still very big. From the sales line to the formation of the final commercial payment, the delivery work in the second quarter gradually returned to normal. < / P > < p > in the first half of 2020, iFLYTEK’s education and medical treatment showed a good growth trend on the core industry track where AI was landing, and the growth rate of this part of core business reached 40.7%. Among them, iFLYTEK achieved 1.317 billion yuan of revenue on the education track in the first half of the year, a year-on-year increase of 34%. Jiang Tao said that many economic activities in the first quarter were suspended from bidding. Since the second quarter, it has gradually entered the stage of large-scale replication. The progress of technology also has a positive effect on its business development. It is revealed that the immersion teaching combined with 5g and AI attaches importance to teaching experience, further reduces the burden for teachers and students, and focuses on the recognition of possible achievements in teaching students according to their aptitude. On the medical track, iFLYTEK achieved more than 70 million revenue in the first half of the year, up 600% year on year. Medical business is an important strategic track of iFLYTEK since 2015. In the past few years, tens of millions of losses and investments have been made every year, and the state of break even will be started in 2019. < / P > < p > “this year, we believe that we are beginning to enter the harvest stage. There are more than 2000 townships and medical institutions in nearly 100 counties and districts in 11 provinces and more than 20000 village level medical institutions have been put into use, producing 300000 AI auxiliary diagnosis suggestions every day.” Jiang Tao said. < / P > < p > in addition, in the consumer business of iFLYTEK, another important track, affected by the epidemic situation in the first half of this year, the sales of translation machines fell precipitously. As the main target group is the people going abroad, there is basically no sales. < / P > < p > however, the overall sales of iFLYTEK’s intelligent hardware exceeded 40% during the 618 period, and the sales of other intelligent hardware except translation machines increased by more than 140% year-on-year. Jiang Tao concluded that under the epidemic situation, the whole people have been promoted in the era of digital survival, and the state has also promoted the construction of new infrastructure, which provides a good stage and opportunity for iFLYTEK. (Yang Xuemei)