China's iFlytek net profits up 21.62% in 2018

SHENZHEN - China's AI firm iFlytek Co Ltd Wednesday announced that the company has registered a net profit increase of 21.62 percent in 2018.

The net profits attributable to its shareholders totalled 528.7 million yuan ($78.8 million), the Hefei-based technology company famous for its portable voice-recognition translators said in its preliminary financial results for 2018 filed to the Shenzhen Stock Exchange.

The company's revenues rose 48.2 percent year-on-year to 8.07 billion yuan, it said.

iFLYTEK's business partners reached 920,000 by the end of 2018, up 77.6 percent from a year ago.

Shares of iFLYTEK rose 4.24 percent by 11:00 am Wednesday in Shenzhen.