iFlytek H1 Revenue RMB 11.623 Billion, Loss Narrows; Lingdong Robotics Eyes Independent Listing

iFlytek released its 2026 interim report on August 20. During the reporting period, the company achieved operating revenue of RMB 11.623 billion, up 6.52% year on year. Net profit attributable to shareholders was -RMB 204 million, with the loss narrowing 14.68% year on year; the net profit after deducting non-recurring items was -RMB 637 million. The company's research and development investment exceeded RMB 3 billion in the first half, accounting for more than 25% of operating revenue, and it invested more than RMB 100 million in strategic areas such as intelligent marking machines, imaging cloud, AI glasses, and overseas business.

In the second quarter, iFlytek's net operating cash flow successfully turned positive. In the first half, sales collections reached RMB 11.896 billion, with contract value up 27% year on year. The company advanced its strategy of 'strengthening the C-end, deepening the B-end, and selecting the G-end,' contracting its traditional project-based business; in the first half, G-end business revenue declined 2.65% year on year. Open platform revenue grew 36.01% year on year, smart healthcare revenue grew 58.56%, and smart automotive revenue grew 20.46%, while smart hardware and smart education revenue declined.

At the earnings call on August 21, Liu Qingfeng disclosed progress in embodied business. Lingdong Robotics is a subsidiary incubated internally by iFlytek, established in December 2024, held by iFlytek, and plans to apply large-model and multimodal capabilities to industrial and commercial fields, and will seek a listing after independent financing. In addition, iFlytek continues to rank first in the industry in terms of the number and amount of large-model contract wins.