iFLYTEK's intelligent auto business sees 38.92% YoY jump in 2021 revenue

Beijing (Gasgoo)- China’s intelligent speech developer iFLYTEK saw blooming numbers in its 2021 annual business performance, especially in the intelligent auto sector.

Photo credit: iFLYTEK

According to its financial report, iFLYTEK brought in RMB18.31 billion ($2.82 billion) in revenue in 2021, surging 40.6% year over year. Its net profit amounted to RMB1.56 billion ($239.96 million), representing a 14.1% increase from the year-ago period. After non-recurring deductions, its net profit equaled RMB980 million ($150.74 million), jumping 27.5% compared to 2020. 

iFLYTEK’s intelligent auto business sector benefited a great deal under the macro development of automotive electrification and intellectualization. In 2021, the sector scored RMB449 million ($69.06 million) in revenue, surging 38.92% year on year. 

The company’s Feiyu intelligent assistant, Feiyu OS, Feiyu intelligent onboard audio management system, and AI solutions have been implemented to numerous mainstream China-made vehicles. In the past year, iFLYTEK has deployed 7 million sets of its smart auto products. 

In 2021, iFLYTEK formed partnerships with over 40 automakers, with more than 200 new vehicle models. The company projected to install its products to roughly 9 million vehicles in 2022, with 260 new models, bringing in a 70% rise in income. 

In addition, according to the president of iFLYTEK, Wu Xiaoru, the company is also actively expanding its product portfolio. It is currently developing integrated smart onboard computer and audio systems.