On the evening of April 21, iFLYTEK released its 2021 annual report. During the reporting period, the company achieved revenue of more than 18.3 billion yuan, an increase of 40.61% year-on-year, and deducted non-attributable net profit of 979 million yuan, an increase of 27.54% year-on-year, and the scale and efficiency of operation continued to grow.
Among them, the revenue of smart education business was 6.007 billion yuan, an increase of 49.47% year-on-year, and the revenue of open platform and consumer business was 4.687 billion yuan, an increase of 52.19% year-on-year. The business in the base area has taken root and maintained rapid growth.
iFLYTEK actively grasps the strategic opportunity of artificial intelligence, increases the personnel reserve of more than 3,300 people, and increases investment in the future. The "14th Five-Year Plan" revenue target of 100 billion yuan has been steadily advancing.
Driven by source technology, the education business is growing rapidly
In 2021, iFLYTEK's R&D investment continued to grow to RMB2.936 billion, an increase of 21.50% year-on-year. Driven by source technology, iFLYTEK has won 10 championships in important international competitions in the field of artificial intelligence, and the relevant achievements have further strengthened its technical barriers and leading edges in education, medical care, consumers and other fields, so that the industry is rooted in the soil of independent innovation.
Under the "double reduction" policy, iFLYTEK's smart education business ushered in strong growth. On the one hand, the application results of the regional "teaching according to aptitude" solution have been further copied on a large scale, and have landed in nearly 20 cities and districts (counties) such as Jinshui District of Zhengzhou City, Wuhan Economic Development Zone, Qingdao West Coast New Area, and Yijiang District of Wuhu City, which have reduced the burden and increased efficiency for teachers and students, and have produced results that can be proved by statistical data.
On the other hand, the value of AI self-learning C-end products continues to be verified. In 2021, the sales of iFLYTEK AI learning machines increased by 150%, and the GMV and sales of JD Tmall increased by 200% year-on-year. Users recommend NPS value to rank first in the industry with a score of nearly 40%.
In addition, under the "double reduction" policy, iFLYTEK's personalized learning manual is widely welcomed by schools. The number of schools operating personalized learning manuals increased by 50%, the number of users increased by 40% year-on-year, and the renewal rate increased from 75% to 90%.
66% increase in the number of developers
Open platform revenue up 55.6%
In terms of smart medical care, iFLYTEK's general practitioner assistant has covered 28 provinces and 284 districts and counties across the country, serving more than 50,000 grassroots doctors and 100 million residents, assisting grassroots doctors to complete more than 130 million standardized electronic medical records, providing more than 340 million AI-assisted diagnosis suggestions, and revising diagnosis at an annual value (doctors refer to the general practitioner's assistant diagnostic prompts, modifying the original diagnosis, and the final diagnosis is consistent with the medical record information) more than 170,000 times, effectively alleviating the uneven distribution of high-quality medical resources at the grassroots level.
Based on iFLYTEK's core technical capabilities, iFLYTEK assists governments and medical institutions at all levels to carry out epidemic prevention and control and basic public health follow-up services, accumulating more than 600 million person-times, effectively improving the efficiency of epidemic prevention and control and public health follow-up of grass-roots medical personnel.
Consumer business has been further improved, and the intelligent hardware of AI+ office scenarios has continued to iterate. In 2021, the sales volume of AI office intelligent hardware increased by 140% year-on-year, the GMV increased by 152%, the GMV growth rate of the Jingdong Tmall dual platform exceeded 80%, and emerging channels such as Douyin also grew rapidly to form a large-scale operation, becoming an important support for C-end sales.
It is worth noting that the iFLYTEK open platform has shown rapid growth in the number of developers and revenue. In 2021, the revenue of iFLYTEK Open Platform reached 2.988 billion yuan, an increase of 55.6% year-on-year. The number of developer teams increased by 66% to 2.93 million. The open platform has opened 449 AI capabilities and programs to the outside world, and focuses on empowering 18 industry sectors such as finance, agriculture, and energy.
In addition, iFLYTEK also released the "Open Platform 2.0 Strategy", which unites industry leaders to build the baseline base of the industry, opens up scenes to gather developers' creativity, and works with industry leaders and developers to build an artificial intelligence industry ecosystem.
