IFLYTEK semi-annual results forecast: Q2 revenue of 4.9 billion, Q1 trough month-on-month growth of 70%

After the close of July 10, HKUST Xunfei (002230.SZ) released the performance forecast of the mid-term report of 2023. The company is expected to realize operating income of RMB 7.8 billion yuan and gross profit of RMB 3.1 billion yuan in the first half year.

In the second quarter, the Company reversed the unfavorable situation of performance decline in the first quarter. It is expected to realize operating income of about 4.9 billion yuan, an increase of about 10% compared with the same period of last year and a month-on-month growth of about 70%; it is expected to realize gross profit of about 1.9 billion yuan, an increase of about 7% compared with the same period of last year and a month-on-month growth of about 60%. In addition, the net cash flow generated by the Company's completed operating activities in the second quarter exceeded RMB 100 million yuan, an increase of more than RMB 550 million yuan compared with the same period last year.

Spark cognitive model helps C-end hardware sold well. From May to June 2023, the GMV of C-end hardware of Science and Technology University Xinfeld reached an all-time high and doubled year-on-year growth. Among them, the GMV of Xinfeld AI learning machine equipped with Xinfeld Spark cognitive model increased by 136% and 217% respectively in May and June.

It is understood that Xunfei Spark will be upgraded again on August 15 and October 24 respectively.