iFLYTEK: 100 million yuan to establish an automotive technology company

According to the company’s information, on June 21, Jiangsu Yixing Zhilian Automobile Technology Co., Ltd., which is indirectly wholly-owned by iFLYTEK, was officially established and landed in Wuxi Economic Development Zone. Wu Xiaoru, the legal representative, has a registered capital of 100 million yuan. The scope includes: engineering and technical research and experimental development; artificial intelligence basic software development; integrated circuit chip and product manufacturing; intelligent vehicle equipment manufacturing and sales, etc.

Shareholder information of Jiangsu Yixing Zhilian Automobile Technology, picture source: Qichacha

In fact, iFLYTEK has been in the automotive business for a long time.

At present, iFLYTEK has provided products and solutions such as Feiyu intelligent assistant, Feiyu OS, Feiyu intelligent car audio management system, AI sales service and other products to domestic and foreign auto manufacturers. The products have covered China's mainstream independent and joint venture brand car factories.

According to its 2021 annual report, its smart car business segment achieved revenue of 449 million yuan, a year-on-year increase of 38.92%.In 2021, iFLYTEK’s smart car business will achieve pre-installation of 7 million units, add more than 200 models to be delivered, and reach more than 40 cooperative car companies, and fixed-point reserves will increase by 90%.The monthly active users exceed 10 million, and the annual number of voice interactions is nearly 2 billion.

With the further increase in the proportion of new energyvehicles in 2022, the company's pre-installed vehicles are expected to increase to 9 million, and more than 260 new cooperative models are expected to achieve a 70% revenue growth.

At iFLYTEK's previous performance briefing, its president Wu Xiaoru also introduced that the company's product line in the field of smart cars is being iteratively upgraded. The information interaction is extended to the audio system and so on.According to preliminary calculations, for some customers with a relatively deep degree of cooperation, in the next three years, a single customer can achieve a revenue scale of more than 1 billion a year.