IFLYTEK(SZ:002230) Nan Fang Du Shi Bao·2025-07-30 05:05Core Viewpoint - Controversy arose from Liu Qingfeng's comments on Elon Musk's understanding of artificial intelligence, which drew criticism from private equity figure Dan Bin [1][2]. Group 1: Company Performance - iFlytek achieved a revenue of 23.343 billion yuan in 2024, marking an 18.79% year-on-year increase, but the net profit attributable to shareholders was only 560 million yuan, a decline of 14.78% compared to the previous year [4][7]. - The company has invested over 20 billion yuan in research and development, with 4.58 billion yuan allocated in 2024, accounting for 19.62% of total revenue [3][4]. - Government subsidies accounted for over 20% of iFlytek's revenue, with amounts of 4.731 billion yuan in 2022, 4.039 billion yuan in 2023, and 4.186 billion yuan in 2024 [7][8]. Group 2: Competitive Landscape - iFlytek has been criticized for lagging behind competitors like Musk's Grok, which has rapidly gained recognition in the AI space despite being established only two years ago [2][3]. - According to the latest LMArena rankings, Grok 4 is ranked 3rd in text generation, while iFlytek's model did not make the list [3]. Group 3: Future Outlook - iFlytek's first-quarter report for 2025 indicated a revenue of 4.568 billion yuan, a 27.74% increase year-on-year, but the company reported a net loss of 193 million yuan [8]. - The company anticipates a continued trend of increasing revenue without corresponding profit growth, with projected losses for the first half of 2025 between 200 million to 280 million yuan [8].