iFLYTEK: On June 1, it received institutional surveys, with the participation of China Universal Fund, Xienochnyang and other institutions

On June 2, 2023, iFLYTEK (002230) announced that the company was investigated by institutions on June 1, 2023, and China Universal Fund Liu Jiang, Xia Zhengan, Bian Zheng, Li Yunxin, Qian Cheng, Xie Nuochenyang, Liang Wenjie, BOCOM Schroders, Huang Haojun, AubreyCam Huang, Fidelity Fund Neil Gough Tommy Su Casey McLean Dale Nicholls Ronald Chung Tina Tian Victoria Mio Flora Wang Eric Nie Jessie Meng Bunny Huang Monica Li Lynda Zhou Leia Ma Sheng Nan Alex Zhang Eric Zhu Frank Wan Min Dai Monica Wang Francesca Yuan, Huaan Securities Ji Xiaojuan Fu Xiaolang, CITIC Securities Yang Zeyuan Pan Ruchen Sheng Xia Huang Shuwen Luo Shunzhi Lu Huaquan, Wang Guoqiang Cheng Wei Liu Qi Li Pinke Zhang Yanzhen, Tang Weiguo, Gao Xiaoxiao of Bodao Fund, Huang Simin and Li Quan of Galaxy Fund, Pu Mengjie of Wells Fargo Fund, Chen Heng of China Business Fund, Li Peiwen of Quareo Capital, and Qiao Liang of CCB Fund participated.

The specific contents are as follows:

Q: What is the business model of the Spark model?

Answer: 1. Based on mature and solid application scenarios, the release of Xinghuo model not only initially realizes the landing of the business model, but also brings about the competitiveness of the company's existing products and the significant improvement of user experience, further improves the rigid attributes of the product has been realized on May 6, the technical breakthrough has brought about the Chinese and English composition tutoring, Chinese and English oral learning of the iFLYTEK I learning machine, as well as the significant improvement of the functional experience of iFLYTEK hearing a recording with one click, iFLYTEK office book automatic text summary and so on. Further enhance the competitiveness of the company's products; On June 9, it will further realize the release of multiple product-level applications such as Xinghuo PP; 2. Further promote the development of iFLYTEK's open platform and make the ecosystem more prosperousIn addition to empowering its own products, iFLYTEK will continue to open up I capabilities and join hands with industry partners to build a large-scale model "Spark" ecology for multiple industries. Before the conference, more than 3,000 companies in 36 industries have reached clear cooperation intentions with iFLYTEK, and the source is still increasing. The open platform now has more than 4 million real-name verified developers and more than 5 million partners. In the future, the Spark model can lower the threshold of technical development, help more developers complete a lot of intelligent work, and integrate more and more professional plug-ins to make the ecosystem more prosperous. 3. The continuous evolution of large model technology will bring more opportunities for new product innovation and open up a new incremental space.

Q: Why can the company's Spark model achieve rapid breakthroughs, and what is the composition of core personnel?

Answer: 1. iFLYTEK can achieve rapid breakthroughs in cognitive large models, which is inseparable from long-term solid accumulation, iFLYTEK has been adhering to the field of artificial intelligence for a long time, and has been steadily investing in artificial intelligence-related core algorithms for many years. In August 2014, the superbrain project was launched, from allowing machines to hear and speak to allowing machines to understand and think; In 2017, the company was approved to build the State Key Laboratory of Cognitive Intelligence; In early 2022, the Super Brain 2030 plan was launched, with the goal of enabling machines to understand knowledge, learn well, and evolve; iFLYTEK has rich experience in Transformer deep neural network algorithms for many years, and its core technology has maintained an international leading level, and in 2022, iFLYTEK won a total of 13 international top competitions in the field of cognitive intelligence. 2. All technical modules of iFLYTEK Spark model are completely independent research and development, all parameters are independently trained from scratch, and there is no model based on any third party, which is also the Spark model can quickly achieve the current results, and can propose a clear and clear milestone plan for follow-up, and can give the confidence to benchmark the specific schedule of ChatGPT on June 9, break through open-ended questions, upgrade multi-round dialogue ability, and mathematical ability will go to a new level; On August 15, the code capability was upgraded to allow developers and partners to use it efficiently and conveniently, and iFLYTEK has already used the code generation capability internally. At the same time, the multimodal interaction capability is officially opened to customers; On October 24, through scientific and systematic evaluation methods, the ability of the general cognitive large model can be benchmarked against ChatGPT, surpass it in Chinese, and reach the equivalent level in English. 3. The research and development of cutting-edge core technologies such as cognitive large models does not rely on piling up people, but on mutual trust and high-level collaboration between experts of a certain scale. iFLYTEK has built a well-established and industry-top R&D team. Many of the team members are PhDs who have been trained in various joint laboratories over the years; The complete team structure, efficient collaboration, unity and no internal friction are the biggest advantages of iFLYTEK in the research field.

Q: The company's large model computing power

A: iFLYTEK has built its own industry-class I data center, which has laid a good hardware cornerstone for the construction of large model training platform. In terms of engineering technology, the reasoning efficiency of tens of billions of parameters has been accelerated by nearly 1,000 times, which provides the possibility for the economical and large-scale application of larger and more cognitive intelligence large model technology in the future. In terms of computing power platform, iFLYTEK began the construction of computing power infrastructure in 2009, and has built a deep learning computing platform with 4 cities and 7 centers, which not only fully meets the needs of I algorithm model training, but also provides related I services to millions of developers and other industry partners on the open platform. At the same time, iFLYTEK adheres to the independent research and development of deep learning frameworks and platforms, builds a professional deep learning technology research and development team and accumulates a lot of research and development experience, has the research and development capabilities of frameworks and algorithms, and continues to achieve fruitful innovation results in deep learning algorithms based on this, and the support of frameworks and platforms for domestic GPUs and hardware is at the leading level in the industry.

Q: How has the release of the Spark model boosted the sales of iFLYTEK AI learning machines?

Answer: 1. After being equipped with the iFLYTEK Spark cognitive large model, the iFLYTEK I learning machine realizes the first full-dimensional humanoid essay grading, which can deeply understand the composition, and can finely mark and comment like a teacher, and automatically generate comments and sample essays at the same time, so that children can accurately improve in inspiration; Oral learning covers all primary and secondary school subject topics. 1-to-1I language companion, so that every pronunciation practice of children is a simulated practice. 2. At present, iFLYTEK I learning machine has become the first learning machine in the industry with the net promoter score of users. The application of Xinghuo large model technology has further enhanced the market share and brand awareness of iFLYTEK learning machine, according to the latest 618 e-commerce festival to open the door, iFLYTEK I learning machine in the learning machine category of Jingdong, Tmall, Douyin platform, are the sales champion. According to IDC and other institutional data, the penetration rate of the domestic learning machine market in 21 years is less than 3%, and artificial intelligence has a huge market space in the learning machine scenario.

Q: How is the market expansion of iFLYTEK Smart Medical's intelligent medical assistant progress?

A: The number of general practitioner assistants covering districts and counties is increasing, and by the end of 2022, it has been applied in 380 districts and counties across the country in primary medical institutions; At present, a total of 620 million I auxiliary diagnosis suggestions have been provided, and the application effect of available data verification has been continuously exerted in the three dimensions of improving the standardization of electronic medical records, correcting diagnosis, and unreasonable prescription for quality inspection. The application of intelligent medical assistant was selected as the "Digital Health Demonstration Case of the National Health Commission", and became the only benchmark for the application of medical artificial intelligence at the conference of the National Health Commission to summarize the progress and results of health informatization since the 18th National Congress.

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

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.

Here is the detailed earnings forecast information:

Margin and securities lending data show that the stock has a net outflow of 312 million yuan in the past three months, and the financing balance has decreased; the net inflow of securities lending is 141 million, and the balance of securities lending has 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)

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