Chinese AI firm iFlytek forecasts strong H1 profit growth

HEFEI - China's leading artificial intelligence (AI) and speech technology company iFlytek Co Ltd forecast strong net profit growth for the first half of 2021 amid booming demand for its technologies and services.

The company is estimated to rake in a net profit between 387.28 million yuan ($59.8 million) and 438.92 million yuan in the January-June period, up between 50 percent and 70 percent year-on-year, iFlytek said in a filing with the Shenzhen Stock Exchange on Monday.