Economic Observer reporter Chen Qijie
On the evening of January 9, iFLYTEK (002230SZ) announced that the company intends to spin off its holding subsidiary, iFLYTEK Medical, to be listed on the main board of the Hong Kong Stock Exchange. The size of iFLYTEK's issuance does not exceed 15% of the total share capital after the issuance. After the spin-off is completed, iFLYTEK will still maintain control of iFLYTEK Medical.
According to public information, iFLYTEK Medical was established in May 2016, based on the world's leading medical semantic computing, text understanding, knowledge reasoning, data mining and other core technologies, to create an artificial intelligence medical solution system, and for the grassroots medical institutions, hospitals, patients and residents and other medical industry practitioners to achieve the full medical process coverage from disease early warning, early screening, diagnosis, ** and efficacy evaluation, post-diagnosis and chronic disease management.
According to the announcement, in 2020, 2021, and 2022, iFLYTEK Medical's operating income will be 32.1 billion yuan, 35.6 billion yuan, 49.4 billion yuan;The net profit attributable to the parent company was 761390,000 yuan, -7973230,000 yuan, -20.4 billion yuan.
iFLYTEK told the Economic Observer that the spin-off of listed companies is an important means for the capital market to optimize resource allocation, which is conducive to optimizing the business structure, broadening financing channels and promoting diversified development of listed companies. At the same time, the spin-off and listing will help iFLYTEK strengthen its ties with international customers and partners, attract global talents, and carry out technical and product cooperation with international scientific research institutions, medical institutions, academic institutions, etc., so as to further promote the overseas business expansion of iFLYTEK and the internationalization process of iFLYTEK Medical.
iFLYTEK believes that the emergence of large models will bring new development opportunities to the medical and health industry. On October 24 last year, the iFLYTEK Xinghuo medical model was officially launched, and has been successfully applied to products such as the "iFLYTEK Xiaoyi APP (mobile phone software)", and will be further applied to artificial intelligence-assisted diagnosis scenarios such as "intelligent medical assistant" to further improve the diagnosis and treatment capabilities of AI assistants.
As of December 2023, the "Intelligent Medical Assistant" has completed more than 700 million auxiliary diagnoses in 426 districts and counties in 31 provinces across the country, detected more than 5,400 unreasonable prescriptions, and corrected more than 1.33 million medical records after being reminded by the Intelligent Medical Assistant.
In addition, iFLYTEK also mentioned that after the spin-off and listing of iFLYTEK Medical, it will be able to use the capital market to independently carry out equity and debt financing to meet the capital needs of continuous R&D investment and market expansion, and reduce the financial burden of iFLYTEK. After the spin-off and listing of iFLYTEK Medical, iFLYTEK can devote more resources to the research and development of general large models and other strategic emerging directions.
According to the third quarter report of 2023, iFLYTEK's operating income during the period was 477.2 billion yuan, and the net profit attributable to the parent company decreased by 1 compared with the same period last year1.6 billion yuan, net profit attributable to the parent after deducting non-profit decreased by 1 compared with the same period last year6.8 billion yuan. iFLYTEK said that the main reason is that the company actively seizes the historical new opportunities of general artificial intelligence and firmly invests in general artificial intelligence cognitive models.