Image Source: Visual China

BEIJING, April 21 (TMTPOST) — Chinese information technology company iFlytek (SHE: 002230) released its 2021 fiscal year and 2022 Q1 earnings report on Thursday, reporting revenues of 18.3 billion yuan in 2021.

The company’s revenues in the fiscal year of 2021 grew year-on-year by 40.61% while its net profit grew year-on-year by 27.54%, excluding extraordinary items.

In Q1 2022, the company had maintained quality growth among the resurging pandemics both at home and overseas. The company achieved revenues of 3.506 billion yuan, registering year-on-year growth of 40.17%. Net profit belonging to shareholders was 146 million yuan (excluding extraordinary items), registering year-on-year growth of 37.73%.

The earnings report shows that revenues from the company’s smart education business were around 6 billion yuan, registering year-on-year growth of 49.47%. The company’s smart city business achieved revenues of 4.974 billion yuan, growing by 29.62% year-on-year. Its open platform and consumer business made 4.686 billion yuan, registering year-on-year growth of 52.19%.

The company also denied layoffs rumor, highlighting that the company hired 3,301 new employees to drive the development of its businesses in 2021.

Established in 1999, iFlytek is an information technology and artificial intelligence technology company focusing on voice recognition. The company creates voice recognition software and 10+ voice-based internet/mobile products covering education, communication, music, and intelligent toys industries. State-owned enterprise China Mobile is the company's largest shareholder. The company is listed in the Shenzhen Stock Exchange with a market capitalization at 25 billion yuan and it is backed by several state-owned investment funds.