iFLYTEK to Launch Spark Cognitive Model V3.0 and Medical Model on October 24
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iFLYTEK announced in its Q3 report that the company achieved revenue of 4.772 billion yuan during the reporting period, a year-on-year increase of 2.89%, with gross profit reaching 1.937 billion yuan, up 3.62% YoY.
Meanwhile, the company achieved positive operating cash flow for two consecutive quarters, with Q3 operating cash flow netting 357 million yuan.
iFLYTEK explicitly stated in the report that Q3 net profit attributable to shareholders and non-GAAP net profit decreased by 116 million yuan and 168 million yuan YoY, respectively. This was due to increased investments in the field of general artificial intelligence (AI), particularly in cutting-edge technologies like cognitive models.
iFLYTEK believes that although these investments impacted short-term profits, they have laid a solid foundation for long-term sustainable development in the digital economy era and provided a rare first-mover advantage. The company has built new core technologies with independent control, which will play a key role in advancing toward general AI.
The report also mentioned that iFLYTEK will launch the Spark Cognitive Model V3.0, a medical model, and the Xiaoyi App on October 24.