iFLYTEK: Technological advancement is not a general expression, a scientific and systematic evaluation system is very necessary

iFLYTEK (002230) responded to investors' concerns on the investor relations platform on May 31.

Investor: iFLYTEK: Recently, a warning document said that "your company was exposed to be suspected of collecting a large amount of user privacy data and using it for artificial intelligence research", resulting in a sharp drop in stock prices, it is worth noting that according to the Ministry of Industry and Information Technology and the official website of Industry and Commerce, your company's software applications, speech recognition SDK, input methods, and dubbing have all been notified for illegal collection of personal information. Has your product been rectified?

iFLYTEK Board Secretary: Hello, in response to the situation mentioned by the Ministry of Industry and Information Technology, the company conducted a careful verification at the first time and identified the SDK information acquisition permission of the third-party partner, and has replied to the relevant questions on March 18, 2021, see http://irm.cninfo.com.cn/ircs/question/questionDetail?questionId=868012789039542272 for details. In addition, in June 2021, the CAC carried out unified security authentication and rectification of relevant apps in accordance with the Implementation Rules for Security Authentication of Mobile Internet Applications (Apps), and input methods such as iFLYTEK, QQ, and Sogou are in the status of "service adjustment, not available for download" in the Huawei App Store. iFLYTEK Input Method actively cooperated with relevant departments to ensure compliance and resumed its launch in July 21. In the follow-up work, iFLYTEK Input Method APP strives to ensure the security of users' personal information from many aspects such as management mechanism, technical means, self-correction and self-inspection, and better serve the majority of users. In 2022, the number of iFLYTEK input method users will accelerate growth, ranking first in the industry, the number of monthly active users in the open market will increase by 21% year-on-year, the number of daily voice calls will increase by 45% compared with 2021, and the voice brand recognition and word of mouth will continue to remain the first in the industry.

Investor: At present, 360 Zhibrain has significantly outperformed other large domestic models in multiple dataset tests. The advantages of 360 wisdom brain over Xinghuo are guessed as: 1. The parameter scale is large, reaching 100 billion; 2. The scale of data after Internet cleaning is larger than that of Spark. Xinghuo may be that the model parameters and data amount are relatively small, and it is hoped that iFLYTEK will maintain its concentration on the basis of the original plan, and strengthen the large-scale data and its cleaning. Xinghuo has achieved such an effect under the current small scale of one order of magnitude parameters, and I believe that the potential after subsequent scale improvement is huge. Thank you

iFLYTEK: Hello, technological advancement is not a general expression, a scientific and systematic evaluation system is very necessary. The National Key Laboratory of Cognitive Intelligence took the lead in designing a general cognitive large model evaluation system, and discussed with the Chinese Academy of Sciences Artificial Intelligence Industry-University-Research Innovation Alliance and the Yangtze River Delta Artificial Intelligence Industry Chain Alliance to form 481 subdivided task types covering 7 categories. Chairman Liu Qingfeng proposed three milestones for the continuous iteration of iFLYTEK at the press conference on May 6: on June 9, break through the open-ended question and answer, upgrade the ability of multiple rounds of dialogue, and reach a new level of mathematical ability; On August 15, the code capability was upgraded and the multimodal interaction capability was officially opened to customers. On October 24, we will strive to surpass ChatGPT in Chinese and reach a comparable level in English. Please pay attention to the online live broadcast of iFLYTEK's Spark Model Upgrade Conference on the afternoon of June 9.

Investor: China Merchants Securities pointed out that it wants to purchase Microsoft's language model, and the company does not even have the opportunity to participate in the competition.

iFLYTEK Board Secretary: Hello, on May 29, according to the electronic bidding and procurement trading platform of China Merchants Group, the procurement project of China Merchants Securities Microsoft Big Language Model Service was terminated, and the reason for the termination was the change of procurement demand, and you can consult the relevant company for details.

Investor: What progress has been made in the brain-computer interface technology jointly researched by the company and South China Institute of Technology?

iFLYTEK: Hello, due to the complexity and particularity of the brain itself, medical ethics and other limitations, brain science is still in the stage of prospective research. The company and South China University of Technology and other cooperation to carry out forward-looking layout research, explore the innovative application of brain-computer collaboration in medical and other fields, the overall is still in the technical exploration period, the next step of related technologies may be to explore the application in scenarios such as brain wave control wheelchairs.

Investor: Is your company a governing unit of the Brain-Computer Interface Industry Alliance?

iFLYTEK Board Secretary: Hello, on February 8, 2023, the inaugural meeting of the Brain-Computer Interface Industry Alliance was held at the China Academy of Information and Communications Technology, and iFLYTEK was one of the first governing units to join the alliance.

Investor: May I ask the secretary of the board, on August 24, there was a report that Spark Model is collecting user information to improve the big data model, is the company really something, if not, why not publicly publish a statement to clarify the truth? Today's stock price also hit a drop limit on this news.

iFLYTEK Board Secretary: Hello, the company has replied to relevant questions on May 24, please refer to http://irm.cninfo.com.cn/ircs/question/questionDetail?questionId=1461775585168027648 for details.

Investor: Does your company have plans to apply some brain science industry projects?

iFLYTEK Board Secretary: Hello, the company has actively paid attention to the key areas of science and technology frontiers and carried out forward-looking layout research. Due to the complexity and particularity of the brain itself, medical ethics and other limitations, the industrial application of brain science is still in the stage of forward-looking research. iFLYTEK deeply participated in the 2030 major project of "Brain Science and Brain-like Research" of the Ministry of Science and Technology, cooperated with experts from Beijing Normal University to focus on language reading and carry out brain measurement research, and led the important topic of "Construction and Operation of Children's Brain Development Data Information Platform" to serve China's national strategy of brain science. As a screening platform for adolescent depression of iFLYTEK Super Brain, it will provide AI capability support for the mental health of children and adolescents across the country in the future.

Investor: Does your company have a layout in the direction of brain interface?

Investor: Why not introduce national strategic funds such as social security funds? This recognition of the company's strength is more convincing!

iFLYTEK: Hello, the company currently has no plans to introduce strategic investors.

Investor: Does the company have any plans to enter new areas at present? At the same time, are there any new breakthroughs in the field of AI?

iFLYTEK Board Secretary: Hello, the company focuses on the technology and industrialization of artificial intelligence, and the recent breakthroughs in the field of AI, please pay attention to the online live broadcast of iFLYTEK's Spark model upgrade conference on June 9.

Investor: Hello Jiang Dong, when will the company be able to put on the shelves the companion robot equipped with large models, and how long will the company's free depression screening platform open to the public be launched? Thank you!

iFLYTEK Board Secretary: Hello, iFLYTEK released on January 29, 2022 "iFLYTEK Super Brain 2030 Plan" is committed to truly allowing machines to perceive people and the environment in all aspects, understand knowledge from all walks of life, have general knowledge and emotions, be able to move flexibly, express themselves in multiple dimensions, create a complex intelligent system that can sustainably evolve independently, and finally allow robots that can serve tea and water and accompany services into every home. For details of the "iFLYTEK Super Brain 2030 Plan", please refer to https://qr23.cn/Ezcwta.

Investor: Hello. Then as above about the problem of semantic understanding of Spark, I personally feel that iFLYTEK will automatically enter the mode of solving mathematical application problems for some problems, but in fact, the completion of the problem is not a mathematical problem, or a simple calculation problem. Is this related to the fact that there are too many math problems in the data composition of Spark training. This piece can be considered optimized for reference, thank you.

iFLYTEK: Hello, thank you for your attention and enthusiastic suggestions.

Investor: Hello, is the iFLYTEK artificial intelligence exhibition hall in Qingdao open to the public?

iFLYTEK Board Secretary: Hello, the construction of iFLYTEK (Qingdao) Artificial Intelligence Science and Technology Museum aims to promote the diversified development of youth extracurricular education, focus on social life, take "human and intelligence, life and society" as the main line, focus on the industry application of perceptual intelligence, cognitive intelligence and artificial intelligence, integrate cutting-edge technologies such as machine vision, speech recognition, speech synthesis, and deep learning, and show the principles and specific applications of "visible and tangible" artificial intelligence technology. The Artificial Intelligence Science and Technology Museum will carry out public welfare science popularization open days 3~4 times every quarter. In addition to museum visits and exhibition hall open day activities, a number of mobile science popularization activities will be held to benefit more young people through campus lectures and artificial intelligence classrooms.

Investor: How much computing power does your company have now? Can it support the hashrate requirements of ChatGPT4?

iFLYTEK Board Secretary: Hello, iFLYTEK has built its own industry-class data center at its headquarters, and has built a deep learning computing platform with 4 cities and 7 centers, which has laid a good hardware foundation for the construction of a large model training platform, and has achieved nearly a thousandfold acceleration in the reasoning efficiency of tens of billions of parameters in terms of engineering technology, providing the possibility for the affordable and large-scale application of larger and more cognitive intelligent large model technology in the future. In addition, the company's training and reasoning solutions on the domestic platform have been put into shape, and the computing power construction related to iFLYTEK's cognitive big model will continue to be built around the autonomous and controllable artificial intelligence computing power platform in the future, so as to avoid being stuck in the neck in development and be able to move forward step by step.

Investor: Excuse me, your company's T20pro, as the earliest artificial intelligence product to access the Spark model, how can Voice Xiaofei not answer so many questions? I was disappointed with my son. Kids love talking to bots and want to improve them!

iFLYTEK Board Secretary: Hello, iFLYTEK AI Learning Machine T20 series is the world's first AI learning machine equipped with iFLYTEK Spark cognitive large model, and the first batch of functions such as Chinese and English composition human marking and generation, mathematical personalization and precision learning human-like interactive supplementary learning, and English-based human language sparring are launched. In the future, more capabilities of the Spark model will continue to be upgraded to the learning machine. Thank you for your interest and suggestions.

Investor: Hello Secretary! It is recommended that the company should seize the window of time as soon as possible to develop an AI assistant like Call Annie, speech synthesis, language translation This is the absolute advantage of the company, and it will definitely be better than Call Annie's experience, and with the blessing of the gradually more intelligent iFLYTEK Spark model, step by step to achieve the absolute leading position in the industry. The AI assistant outlet is too big!!!

iFLYTEK: Hello, thank you for your enthusiastic suggestions.

Investor: What is your company's future layout in human brain engineering?

Investor: What is the relationship between Future Intelligence and iFLYTEK? If iFLYTEK does not hold any shares of Future Intelligence, is it suspected of profit transmission?

iFLYTEK Board Secretary: Hello, the company indirectly holds 40% of the shares of Anhui Ide Future Intelligent Technology Co., Ltd. through its wholly-owned subsidiary Anhui iFLYTEK Yunchuang Technology Co., Ltd., so the company will account for Future Intelligence as a long-term equity investment account in the consolidated statements, and then enjoy the equity corresponding to the company's net profit according to the shareholding ratio, which will be recorded in the investment income.

Investor: Did your company lay out brain-computer interfaces and human brain research projects very early? Thank you!

Investor: Hello I would like to ask how the company's shareholder count has changed this month compared to the previous month?

iFLYTEK Board Secretary: Hello, listed companies do not have real-time shareholder information. The company discloses shareholder information at the corresponding point in time in its periodic reports. Thanks for the attention.

Investor: Hello, how much does the Spark model actually bring to the company? The first quarter of 2023 was negative, and the company's earnings seem less optimistic

iFLYTEK Board Secretary: Hello, the business model of Xinghuo model is steadily advancing, and the learning machines, office books, voice recorders, hearing, as well as automotive human-computer interaction, digital employees and other specific products displayed at the Xinghuo model press conference on May 6 have initially realized the commercial landing of Xinghuo model. In addition to empowering its own products, Xinghuo Model will also empower more than 4 million real-name verified developers and more than 5 million partners on the iFLYTEK AI Open Platform. With the continuous iterative upgrading of large models, more opportunities for product innovation will continue to emerge.

Investor: Does your company have a layout in terms of computing power chips?

iFLYTEK Board Secretary: Hello, iFLYTEK has maintained good communication and cooperation with major domestic CPU and GPU manufacturers, and has solidly promoted localization and achieved important results. We will deeply cooperate with upstream and downstream partners in the artificial intelligence industry chain to build a Spark ecosystem, so that the independent and controllable Spark big model can continue to evolve and improve on the independent and controllable computing power platform. Thank you for your interest!

Investor: Hello secretary, at the conference on May 6th, the chairman introduced that Xinghuo is supported by Huawei in terms of computing power, I want to know specifically what specific cooperation with Huawei in the direction of computing power, what is the gap between the current computing power and the advanced level of foreign countries, can it support the iteration speed of Xinghuo, and reach the level of chatGPT in October? Thank you

iFLYTEK Board Secretary: Hello, iFLYTEK started the construction of computing power infrastructure in 2009, built its own industry-class data center in the headquarters, and has built a deep learning computing platform with 7 centers in 4 cities. iFLYTEK's computing power not only fully meets the needs of AI algorithm model training, but also provides related AI services to millions of developers and other industry partners on the open platform. In addition, in terms of engineering technology, the inference efficiency of tens of billions of parameters has been accelerated nearly a thousand times, which provides the possibility for the economical and large-scale application of larger and more cognitive intelligence large model technology in the future. iFLYTEK and Huawei have always maintained good cooperation, and at the same time worked with partners to build large models on a secure and controllable domestic computing power platform, so as to continue to evolve and improve on an independent and controllable platform.

Investor: Does your company currently have a new industry or new field? Does your company have any new breakthroughs in the field of Ai?

iFLYTEK: Hello, iFLYTEK has been focusing on the company's artificial intelligence strategy, and has made important breakthroughs in key technologies such as speech recognition, natural language understanding, machine cognitive reasoning capabilities, and multilingual and multimodal human-computer interaction in recent years. Among them, in April 2022, iFLYTEK participated in the Common Sense Reasoning Challenge CommonsenseQA 2.0 for the first time and topped the list (the participants included Google, Allen Institute for AI, University of Washington and many other top international institutions), breaking the world record for the level of machine common sense reasoning with the absolute advantage of the new deep learning algorithm. In terms of deep understanding, in July 2022, the National Key Laboratory of Cognitive Intelligence built by iFLYTEK won the championship in the OpenBook QA Scientific Common Sense Reasoning Challenge with an absolute accuracy rate of 94.2%, and the single model of common sense reasoning exceeded the human average for the first time. In December 2022, at the 11th International Dialogue System Technology Challenge (DSTC11), the State Key Laboratory of Cognitive Intelligence built by iFLYTEK won three championships with its multi-task joint training program based on prompt learning and multi-stage coarse to fine model training program based on contrast learning. In terms of the industrialization of core AI technologies, iFLYTEK will advance step by step and fulfill the mission of "building a better world with artificial intelligence".

Investor: Hello, does your company's iFLYTEK Open Platform have any plans to launch a mobile APP application?

iFLYTEK Board Secretary: Hello, regarding the company's next technology upgrade and product release, please pay attention to the online live broadcast of iFLYTEK's Spark model upgrade conference on the afternoon of June 9.

Investor: Hello, what is your company's layout in AI anti-fraud?

iFLYTEK Board Secretary: Hello, in helping public security organs to combat and prevent telecom network fraud, iFLYTEK relies on the application of artificial intelligence technology such as intelligent voice to build a three-in-one anti-fraud solution of "fighting and preventing propaganda". In terms of crackdown, iFLYTEK has built a telecom network fraud crackdown platform linked with communication management departments and public security organs, so as to achieve real-time blocking when a case occurs, timely filing a case after the case, quickly fixing evidence, and assisting in the investigation and solving of the case. In terms of prevention, iFLYTEK conducts technical research and analysis based on telephone, network and SMS early warning identification, and the early warning results can be docked with the communication department system to achieve "mute" and "cut" treatment of telecom network fraud. In terms of publicity, iFLYTEK cooperated with the Regional Anti-fraud Center to carry out anti-fraud publicity by building a theme website to combat telecom network fraud, opening the 96110 lightning anti-fraud hotline, new media platforms and other means to realize the function of receiving the police in telecom network fraud cases, and also put the functions of early warning and dissuasion and emergency help in advance, forming a new mechanism for cracking down on new illegal crimes in telecommunications networks in the whole chain of prevention, blocking and post-event combat.

Investor: Hello, does your company cooperate with Huawei in AI models? Is there any cooperation with Huawei in terms of computing power?

iFLYTEK Board Secretary: Hello, iFLYTEK and Huawei have maintained good cooperation over the years. On the basis of iFLYTEK's independent research and development and ownership of all intellectual property rights, we will deeply cooperate with upstream and downstream partners in the artificial intelligence industry chain to build a Spark ecosystem, so that the independent and controllable Spark model can continue to evolve and improve on the independent and controllable computing power platform.

Investor: Hello, is it true that iFLYTEK, Huawei and Hefei Big Data jointly built the joint AI ecosystem of Xinghuo Ascend?

Investor: Has the iFLYTEK robot superbrain platform been connected to the big model? What is the development plan of iFLYTEK robot in the future?

iFLYTEK Board Secretary: Hello, 1. On May 25th, at the "iFLYTEK AI TechDay" Shenzhen event, the iFLYTEK Robot Super Brain Platform officially connected to the Xinghuo cognitive big model. Relying on the "iFLYTEK Super Brain 2030" technology base, iFLYTEK Robot Super Brain Platform has launched a robot development platform with AI capability nebula, multi-modal interaction, intelligent motion, model training, asset generation and software and hardware access as the core for the physical world, digital world and meta-universe, helping developers quickly build physical robots and virtual digital human products that understand knowledge, learn well and can evolve. 2. The "iFLYTEK Super Brain 2030 Plan" released by iFLYTEK on January 29, 2022 is committed to truly allowing machines to perceive people and the environment in all aspects, understand knowledge from all walks of life, have general knowledge and emotions, be able to exercise flexibly, express themselves in multiple dimensions, and create a complex intelligent system that can sustainably evolve independently, and finally allow robots that can serve tea and water and accompany services into every home. For details of the "iFLYTEK Super Brain 2030 Plan", please refer to the https://qr23.cn/Ezcwta for details.

Investors: On May 29, at the "Brain-Computer Interface Innovation and Development Forum" of the 2023 Zhongguancun Forum, Zhao Zhiguo, chief engineer of the Ministry of Industry and Information Technology, introduced that with the joint efforts of the industry, the mainland has formed a whole industrial chain of brain-computer interface covering the basic layer, technical layer and application layer, and has been applied in the fields of medical care, education, industry, entertainment and other fields. The Ministry of Industry and Information Technology will take brain-computer interface as an important direction to cultivate future industrial development, strengthen the exploration of brain-computer interface application scenarios, and accelerate the vigorous development of the brain-computer interface industry. Please hurry up the layout of brain-computer interfaces.

iFLYTEK Board Secretary: Hello, due to the complexity and particularity of the brain itself, medical ethics and other limitations, the industrial application of brain science is still in the stage of forward-looking research. The company has active attention to the key areas of science and technology, and has long-term continuous forward-looking layout research: in 2017, the company established a joint laboratory of brain-computer collaborative hybrid intelligence technology and application with South China University of Technology; In 2018, it cooperated with Tongji University to promote the "Brain and Intelligence Fly Together" Joint Research Center, and cooperated with Beijing Normal University to release the "iFLYTEK Education Brain Program"; Established iFLYTEK (Shanghai) Institute of Artificial Intelligence and Brain Science in Shanghai; Deeply participated in the 2030 major project of "Brain Science and Brain-like Research" of the Ministry of Science and Technology, cooperated with experts from Beijing Normal University to focus on language reading and carry out brain measurement research, led the important topic of "Construction and Operation of Children's Brain Development Data Information Platform", and served the national strategy of China's brain science; As the screening platform for adolescent depression as a super-brain achievement of iFLYTEK, it will provide AI capability support for the mental health of children and adolescents across the country in the future.

iFLYTEK's 2023 quarterly report shows that the company's main revenue is 2.888 billion yuan, down 17.64% from the same period last year; net profit attributable to the parent - 57.8953 million yuan, down 152.26% from the same period last year; Deduction of non-net profit - 338 million yuan, down 331.82% from the same period last year; The debt ratio is 47.21%, the investment income is 134 million yuan, the financial expenses are 13.7051 million yuan, and the gross profit margin is 41.88%.

A total of 33 institutions have rated the stock in the last 90 days, with 28 Buy ratings and 5 Overweight ratings; The average institutional target price over the past 90 days is 78.74. In the past three months, the net inflow of financing was 157 million, and the balance of financing increased; the net inflow of securities lending was 89.5452 million, and the balance of securities lending increased. According to the financial report data of the past five years, the valuation analysis tool of Securities Star shows that iFLYTEK (002230) has an excellent moat of competitiveness in the industry, average profitability and average revenue growth. There may be hidden financial concerns, and the financial indicators that should be focused on include: accounts receivable/profit margin, accounts receivable/profit margin growth rate in the past 3 years. The stock has 3 stars for the Good Company Index, 1.5 stars for the Good Price Index, and 2 stars for the Composite Index. (The index is for reference only, the index range: 0 ~ 5 stars, the highest 5 stars)

iFLYTEK (002230) main business: voice support software, industry application products/systems, information engineering and operation and maintenance services.

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