作为出海新锐力量，科大讯飞本次携手"顶流天团"开启中国行，不光出于对中国企业出海生态的洞察， 同样有着和全球红人深度对话的期待。首站合肥，六位红人来到科博展现场，系统性了解讯飞AI营销 海外产品矩阵，并近距离体验讯飞AI硬件产品，沉浸式感受讯飞作为出海先锋的创新内核。 当海外顶级红人打破次元壁，与出海品牌面对面畅聊全球营销新玩法，将会碰撞出怎样的新火花？在万 众瞩目的2025科大讯飞全球1024开发者节期间，一场为期七天、跨越1200公里的"科大讯飞全球红人中 国行"活动正式拉开帷幕——这不仅是一次红人来到中国，感受科大讯飞AI新成果的沉浸式体验之旅， 更是讯飞以"AI+红人营销"为支点，探寻中国品牌全球营销创新密码、定义出海新范式的年度布局。 在全球红人营销业态加速迭代的当下，讯飞AI营销（AIMarX）正以技术基因与生态能力，成为中国企 业突破文化壁垒、讲好全球化品牌叙事的推动者。因此，讯飞AI营销携手旗下红人营销平台iFLYTalent 发起本次活动，希望通过深度、新锐的灵感碰撞，帮助中国品牌共同找寻全球营销的全新取胜之道。 与全球红人共见1024：AI提速科技出海，中国品牌国际化新高度 本次受讯飞AI ...

Core Viewpoint - The article discusses the ongoing profitability challenges faced by iFlytek despite its revenue growth, highlighting the company's significant R&D investments and the declining gross margins in its open platform business [3][4]. Group 1: Financial Performance - In the first half of 2025, iFlytek reported revenue of 10.911 billion yuan, a year-on-year increase of 17.01%, but incurred a net loss of 239 million yuan, a 40.37% increase in losses compared to the previous year [3]. - This marks the second consecutive half-year of losses for iFlytek since 2024, raising concerns about its ability to convert revenue into profit [4]. - The company's revenue structure shows that smart education and open platform businesses contributed 32.36% and 24.96% to total revenue, respectively, accounting for over 57% of the company's income [5]. Group 2: Business Segments - The smart education segment maintained a gross margin of 51.92%, showing slight growth from the previous year, while the open platform business experienced a significant decline in gross margin from 29.15% in 2022 to 16.58% in the first half of 2025 [6][7]. - The enterprise AI solutions segment saw a remarkable revenue growth of 349.92%, contributing 4.03% to total revenue, while the smart medical business grew by 21.09%, increasing its share to 2.53% [9]. - The smart hardware segment's revenue declined by 3.27%, and other segments like smart justice and operator services also reported poor performance [10]. Group 3: Cost Structure - iFlytek's high sales and R&D expenses are significant factors eroding its profitability, with sales expenses reaching 2.086 billion yuan (19.12% of revenue) and R&D expenses at 2.068 billion yuan (18.95% of revenue) in the first half of 2025 [11]. - The company’s sales expenses have increased significantly over the years, driven by its diversified business model targeting government, enterprise, and consumer sectors [12][13]. - R&D expenses have also surged, with a notable investment of over 2 billion yuan in the development of the iFlytek Spark large model in 2023 [19]. Group 4: Accounts Receivable and Financial Pressure - iFlytek faces challenges with high accounts receivable, which reached 15.746 billion yuan, a 7.36% increase year-on-year, constituting 36.68% of total assets [22]. - The company has reported a significant increase in bad debt provisions, totaling 3.54 billion yuan, indicating potential cash flow issues [22]. - Financial expenses have risen sharply, with 135 million yuan recorded in 2024, an eightfold increase from 2023, further impacting profitability [24].

Core Viewpoint - Company reported a revenue of 23.343 billion yuan for 2024, marking an 18.79% year-on-year increase, while net profit decreased by 14.78% to 560 million yuan [1] - The first quarter of 2025 saw a revenue of 4.658 billion yuan, reflecting a 27.74% year-on-year growth, but net profit was negative at -193 million yuan [1] Group 1: Financial Performance - In 2024, operating cash flow reached a historical high of 2.495 billion yuan, up 613.40% year-on-year [1] - The company achieved revenue growth across various business segments, with significant contributions from smart education and smart healthcare [2] Group 2: Business Segment Performance - Smart education generated 7.229 billion yuan, a 29.94% increase, driven by the rollout of AI tutoring products [2] - Smart healthcare revenue was 0.692 billion yuan, up 28.18%, leveraging AI capabilities for diverse product offerings [2] - The open platform revenue reached 5.172 billion yuan, growing by 31.33%, with over 8.02 million AI developer teams [2] - Smart hardware revenue was 2.023 billion yuan, increasing by 25.07%, with significant growth during major sales events [2] - Smart city revenue declined by 8.05% to 3.617 billion yuan, while operator business revenue fell by 9.31% to 1.901 billion yuan [2] - Smart automotive revenue surged by 42.16% to 0.989 billion yuan, with over 9 million units shipped [2] - Enterprise AI solutions revenue skyrocketed by 122.56% to 0.643 billion yuan, leading in both bid quantity and amount [2] Group 3: Future Outlook - The launch of the upgraded Spark X1 model is expected to accelerate revenue growth in 2025, with performance benchmarks set against OpenAI and DeepSeek [3] - Revenue projections for 2025-2027 are estimated at 27.9 billion, 33.8 billion, and 41.4 billion yuan, with net profits of 729 million, 1.105 billion, and 1.413 billion yuan respectively [3]