Chinese AI firm iFLYTEK posts strong H1 revenue growth

HEFEI -- China's leading artificial intelligence (AI) and speech technology company iFLYTEK Co Ltd posted strong revenue growth in the first half (H1) of 2022, according to the company's semiannual report released on Monday.

The operating revenue of iFLYTEK amounted to over 8.02 billion yuan ($1.17 billion) during the period, up 26.97 percent year-on-year, the report showed.

Its revenues from smart education and smart city businesses reached over 2.2 billion yuan and 2.18 billion yuan respectively during the same period, up 27.38 percent and 42.55 percent year-on-year.

Its investment in research and development increased by 30.46 percent to nearly 1.6 billion yuan in the first six months.

The net profit attributable to the parent company fell 33.57 percent year-on-year to 278 million yuan, according to the report.