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Chinese AI firm iFlytek profit up 45 pct in 2019

Chinese artificial intelligence (AI) firm iFlytek Co. posted strong profit and revenue growth last year amid continuous development of the AI industry.

Its net profit grew 45.5 percent year on year to 788.5 million yuan (112.6 million U.S. dollars) in 2019, iFlytek said in its preliminary earnings estimate filed to the Shenzhen Stock Exchange.

Its full-year revenue rose 27.4 percent year on year to 10.1 billion yuan, the company said.

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