In the third quarter of 2024, iflytek co.,ltd. increased its investment and layout in the research and development of the large-scale Xunfei model, while achieving a profit in the quarter. The company stated that the new generation of cognitive intelligence large-scale model "Xunfei Xinghuo" has become the first choice of central state-owned enterprises.
In the third quarter of 2024, iflytek co.,ltd. achieved profitability for the quarter, with revenue, gross profit, net income, and cash flow all maintaining positive growth in various operating indicators.
On Friday, October 18th, iflytek co.,ltd. released its third quarter financial report:
- Third quarter revenue: 5.525 billion yuan, a year-on-year increase of 15.77%; revenue for the first three quarters: 14.8495 billion yuan, a year-on-year increase of 17.73%.
- Third quarter net income: 56.96 million yuan, a year-on-year increase of 120.87%; net loss for the first three quarters: 0.3437 billion yuan, a year-on-year decrease of 445.91%.
- Earnings per share in the third quarter: 0.0243 yuan, a year-on-year increase of 147.00%; earnings per share for the first three quarters: -0.1489 yuan, a year-on-year decrease of 472.25%.
- Gross profit: 2.26 billion yuan, a year-on-year increase of 16.68%.
- Operating cash flow: 0.715 billion yuan, a year-on-year increase of 100.09%.
iflytek co.,ltd. rose 3.22% today, with iflytek co.,ltd. stocks falling nearly 15% over the past year.
Xunfei Ignition continues to develop.
According to the financial report, in the third quarter of 2024, while iflytek co.,ltd. increased its investment and layout in the Xunfei Ignition large model, it achieved a positive profit for the quarter. In the first three quarters, iflytek co.,ltd.'s total R&D expenses amounted to 3.0371 billion, with a 145.82% increase in development expenditure compared to the initial balance, mainly due to the increase in R&D investment for this period.
Xunfei Ignition is a new generation cognitive asia vets large model introduced by iflytek co.,ltd., with cross-domain knowledge and language understanding capabilities, able to understand and perform tasks based on natural conversation.
Currently, large models are accelerating their landing in central state-owned enterprises. Iflytek co.,ltd. stated that the Xunfei Ignition large model has become the preferred choice for central state-owned enterprises - according to relevant statistics, this year, the number of projects awarded in the large model market in China has reached 653, with Iflytek co.,ltd. successfully winning 38 projects, disclosing an amount of 0.216 billion yuan. Both the number and amount of awards rank first in the industry, with the single-month award amount exceeding 1.5 billion yuan in just August.
Iflytek co.,ltd. also mentioned that the Xunfei Ignition industry ecology has been further strengthened, with the number of developers continuing to grow rapidly in the first three quarters of 2024, adding 1.777 million new developers. The Xunfei Ignition APP has been downloaded over 0.19 billion times on the Android platform.