In 2021, iFLYTEK's revenue growth accelerated significantly, achieving revenue of more than 18.3 billion yuan, an increase of 40.61% year-on-year, and net profit of 979 million yuan after deduction of non-attributable net profit, an increase of 27.54% year-on-year, and the scale and efficiency of operation continued to grow. Under the changeable economic situation this year, iFLYTEK's operating income in the first quarter was 3.506 billion yuan, an increase of 40.17% year-on-year, and the net profit after deduction of non-attributable to the mother was 146 million yuan, an increase of 37.73% year-on-year.
On April 22, iFLYTEK held a performance briefing for the 2021 and first quarters of 2022 to interpret the company's operating data, business progress and future layout. It is reported that with the further deepening of the core technology at the source and the increase of investment in systematic innovation, iFLYTEK's base business has taken root and made breakthroughs in education, medical care, automotive, urban, consumer and other fields, and has built a sustainable development business advantage of "just need + generation difference".
In 2021, iFLYTEK will have more than 3,300 new personnel reserves. Chairman Liu Qingfeng explained at the briefing that among the more than 3,000 new employees, more than 1,900 production and research personnel have increased, increased research and development in education, medical care, automobiles, learning machines and other fields, and increased R&D investment in future base business. At the same time, 950 new employees will be added to the front line to better promote the business layout of the base area.
While expanding the personnel team, iFLYTEK's product line is shrinking. "We are concentrating on product lines that can scale, which means that our next step will be to release the scale dividend." Liu Qingfeng said that in the current situation of uncertainty, iFLYTEK should maintain sustainable, benign and steady business growth. "At the end of 2020, we proposed to build a base area. Regardless of whether the economic environment is good or bad, the base business is an effective guarantee to help us through the economic cycle. ”
Increasing investment in production and research and deepening the business of base areas correspond to the two key driving forces of iFLYTEK's development - systematic innovation and base construction. After the layout in the past year, iFLYTEK has also continuously upgraded its base construction, further dividing it into G-B-C fusion base area, market coverage base area, just need future-driven base area, value customer base area and C-end base area, and the sustainable development business advantage of "just demand + generation difference" has been continuously strengthened.
iFLYTEK Smart Education Business.
Among the revenue of 18.3 billion yuan in 2021, the revenue of the smart education business was 6.007 billion yuan, an increase of 49.47% year-on-year, showing a high-speed growth trend. At the performance briefing, the G-B-C development model was repeatedly mentioned and took the lead in the field of smart education. Chairman Liu Qingfeng explained that iFLYTEK's smart education products are mainly divided into aptitude-based teaching solutions for prefectures, cities and counties (G-end), in-school big data precision teaching for schools (B-end), English listening and speaking tests, etc., and AI learning machines for parents and children (C-end).
Liu Qingfeng took Yunnan as an example and said that the G-B-C development model explored by iFLYTEK in the local area showed a good linkage. From the system and site standardization construction of English oral examinations, to the places where schools usually train and simulate oral examinations, and then to the daily oral practice tools of students, iFLYTEK's English listening, speaking, teaching and examination management platform covers G, B and C, forming a complete product linkage.
In terms of smart medicine, 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 provide more than 340 million AI-assisted diagnosis suggestions, and revising diagnoses with an annual value of more than 170,000 times, effectively alleviating the uneven distribution of high-quality medical resources at the grassroots level.
iFLYTEK Smart Medical Business.
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.
Talking about the performance of the medical business this year, Liu Qingfeng is full of confidence, "The medical business will usher in the receipt period this year." He also said that the G-B-C development model explored in the field of smart education can also be replicated in the medical field. Through the linkage of G, B and C, it can not only improve the doctor's diagnosis and treatment ability, residents' health, scientific prevention and control of the epidemic, but also provide chronic disease management, family doctor follow-up, and become a health assistant for each resident.
It is also worth noting that the revenue of iFLYTEK's automobile business increased by 39%, but the growth of fixed-point revenue doubled. Under the trend of automobile intelligence and networking, iFLYTEK has also further moved from a technology provider to an infotainment system, a sound system, etc., to the integration of soft and hardware, and is expected to bring greater revenue contribution in the future.
Written by: Nandu reporter Mo Zhihua