Iflytek Co Ltd
- Exchange
- Shenzhen
- Country
- China
- IPO date
- May 12, 2008
- Employees
- 16,818
- Website
- www.iflytek.com
Composite valuation range · conservative ¥20–¥30 / fair ¥35–¥50 / optimistic ¥65–¥95. At ¥39.73, Within the fair intrinsic-value range.
At publication ¥44.12 (Jun 9, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
iFLYTEK CO.,LTD, together with its subsidiaries, provides intelligent speech and technology solutions and services in China and internationally. The company offers smart recorder, translator, voicebook, dictionary pen, space products, and microphones; AINOTE, a voice transcription device; Spark Trans, a multilingual simultaneous interpreting system; Deepting, an AI-powered transcription tool; and global Chinese learning platform and AI + marketing solutions. It also provides intelligent application systems; software for voice and speech recognition and conversion; computer software design and programming services; technical research in the field of computer software; advertising; online trading; marketing; and computer database information system through platform and website. In addition, the company offers telecommunication services, including wireless telephone services, wireless telephony and wireless broadband communications services, and consulting services for transmission of voice, data, and documents via telecommunications networks. Further, it is involved in education and training; software development; installation engineering; system integration; data processing and storage support; cultural and artistic services; rental business; investment activities; childcare; insurance; provision of internet data and network services; AI application; and industrial robot manufacturing. The company was formerly known as Anhui USTC iFLYTEK Co., Ltd. and changed its name to iFLYTEK CO.,LTD in April 2014. iFLYTEK CO.,LTD was founded in 1999 and is headquartered in Hefei, China.
History
iFlytek was founded in 1999 in Hefei by Liu Qingfeng, Wang Renhua and a team of teachers and PhD students from the University of Science and Technology of China (USTC), initially focused on Chinese speech recognition and synthesis. In 2002 it became a key undertaker of the national 863 Program's "Chinese speech technology" project. The company listed on the Shenzhen Stock Exchange SME board (002230) in May 2008 at an IPO price of RMB 14.6 per share, and was formerly known as Anhui USTC iFLYTEK Co., Ltd. before changing its name to iFLYTEK CO.,LTD in April 2014. Key milestones include launching the iFlytek voice cloud open platform in 2010, China Mobile's RMB 1.36 billion private placement in 2013 for a 10.03% stake, acquiring Xunfei Jiecheng in 2014 to build out its education smart-classroom business, adopting an "artificial intelligence" strategy in 2017, and releasing the "Xunfei Spark V1.0" general large model in May 2023 followed by V4.0 (June 2024), V4.0 Turbo plus the X1 deep-reasoning model (January 2025), and X2 (2026, trained entirely on domestic computing power). The company was added to the U.S. Department of Commerce Entity List twice, in October 2019 and October 2023. In November 2024 its control structure changed when the concerted-action agreement between Liu Qingfeng and "USTC Holdings" was terminated, making Liu the sole actual controller; he holds 5.55% directly plus stakes through an employee shareholding platform for combined control of 20.82%. For FY2025 the company reported revenue of RMB 27.105 billion (up 16.12%), net profit attributable to shareholders of RMB 839 million (up 49.85%), and R&D investment of RMB 5.364 billion (19.79% of revenue) with 10,040 R&D staff (59.7% of employees). It employs 16,818 people and is headquartered in Hefei, China.
Industry position
iFlytek operates across the large-model, vertical industry-application, and edge-hardware layers of China's AI value chain, positioned as an integrated AI player in intelligent speech, large models, and applications spanning education, government, healthcare, automotive, and smart hardware. The research source describes it as the only listed pure-AI full-stack company on China's A-share market, since the AI businesses of peers such as Baidu, Alibaba, and Tencent represent smaller revenue shares and rivals such as ByteDance, DeepSeek, Kimi/Moonshot, and MiniMax are unlisted. Its FY2025 revenue of RMB 27.105 billion breaks down into smart education (33.08%, RMB 8.967 billion, +24.04%), open platform plus large models (22.46%, RMB 6.088 billion, +17.72%), smart hardware (8.05%, RMB 2.183 billion, +7.92%), digital government (5.75%, RMB 1.558 billion, +30.35%), smart automotive (4.58%, RMB 1.240 billion, +25.41%), smart healthcare (3.17%, RMB 858 million, +24.07%), and other businesses (12.91%). Differentiation comes from facts such as: the Spark X2 model being trained entirely on domestic computing power (via deep cooperation with Huawei Ascend and the "Feixing No.1" ten-thousand-card platform launched October 2023), ranking first domestically in Chinese mathematics on SuperCLUE and in the MedBench healthcare benchmark; long-term B-end contracts (5-10 years) in education smart classrooms and Zhixue.com across thousands of schools in Beijing, Shanghai, Anhui, Zhejiang, and Guangdong; the Zhiyi Assistant covering 800+ county-level grassroots hospitals with cumulative 800 million diagnostic-assistance uses; the Feiyu in-car voice system deployed in 5 million+ vehicles for customers including Chery, Changan, BYD, FAW, and SAIC; and proprietary B-end data assets across K12 education, government, healthcare, and in-car voice. Direct vertical competitors named in the source include TAL, NetEase Youdao, Zuoyebang and ByteDance in education; Baidu, WeDoctor, Ping An Good Doctor and JD Health in healthcare; Baidu Smart Cloud, Inspur and Alibaba Cloud in government; and Baidu Apollo, Volcano Engine, SenseTime, Mobileye and Huawei ADS in automotive. China Mobile is the largest shareholder at 10.03% and a strategic shareholder providing carrier-scenario resource synergy.