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    002230   CNE100000B81

IFLYTEK CO.,LTD

(002230)
  Report
End-of-day quote Shenzhen Stock Exchange  -  2023-03-21
51.55 CNY   +1.44%
03/05IFlytek to Roll Out New Robots in 2023
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03/03At China political meeting, internet bosses are out, chip execs are in
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02/23ChatGPT Chatbot to Threaten Human Race in Two-Three Years
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ChatGPT mania pumps up Chinese AI technology stocks

02/07/2023 | 01:18am EDT
Illustration shows ChatGPT logo

SHANGHAI (Reuters) - Chinese artificial intelligence stocks are the latest rage in mainland markets as the global frenzy around the Microsoft-backed ChatGPT chatbot spurs speculative bets on the revolutionary computing technology.

Just two months after its launch, ChatGPT - which can generate articles, essays, jokes and even poetry in response to prompts - has been rated the fastest-growing consumer app in history. That has pushed Google owner Alphabet Inc to plan its own chatbot service and using more artificial intelligence for its search engine.

While ChatGPT is not accessible in China, mainland investors are still pumping up the shares of AI technology companies such as Hanwang Technology Co, TRS Information Technology Co and Cloudwalk Technology Co.

The CSI AI Industry Index, which includes larger capitalized companies such as iFlytek Co, is up about 17% this year, outperforming the benchmark CSI300 Index's 6% rise.

To be sure, there is no indication that these AI companies are close to pushing out a ChatGPT-like product. The closest seems to be search engine giant Baidu Inc with plans to complete testing of its "Ernie bot" in March. Its shares surged more than 13% on Tuesday after making the announcement.

"The industry as a whole tends to first speculate on expectations before only later trading on actual results," said Zhang Kexing, general manager of Beijing Gelei Asset Management.

Shares of Hanwang Technology, which makes products that enable intelligent interactions, jumped by their daily limit of 10% for the seven sessions after markets reopened from the Lunar New Year holiday, boosting prices by more than 60% so far in February.

The company expects to report an annual loss for 2022 but believes it has an edge over an interface like ChatGPT because its model can produce more precise results for clients.

Cloudwalk shares have more than doubled in the seven trading days since the Lunar New Year holidays. On Tuesday, the company cautioned investors, saying its losses deepened in 2022, it has not cooperated with OpenAI, and has generated no revenues from ChatGPT-related services and products.

Other companies that have disclosed their progress in AI technology include TRS Information Technology, and Beijing Haitian Ruisheng Science Technology Ltd. Their share prices have soared too.

The price surge has stretched valuations. TRS for example, trades at nearly 60 times earnings, while Huisheng's price-to-earnings ratio is more than 240.

Retail investor Lu Deyong has purchased shares in TRS and iFlytek and is seeking to profit from the ChatGPT hype.

"ChatGPT is just a hot idea," he said. However, he doesn't think "China can realize such a technology in the short term."

"For us retail investors, we prefer smaller stocks with this concept to make some quick money," Lu said.

(Reporting by Samuel Shen, Jason Xue and Brenda Goh; Editing by Vidya Ranganathan and Christian Schmollinger)


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -2.25% 100.115 Delayed Quote.16.13%
BAIDU, INC. 2.96% 157.22 Delayed Quote.33.53%
BEIJING HAITIAN RUISHENG SCIENCE TECHNOLOGY LTD. 10.82% 214.99 End-of-day quote.260.18%
HANWANG TECHNOLOGY CO.,LTD. 3.47% 32.48 End-of-day quote.109.14%
IFLYTEK CO.,LTD 1.44% 51.55 End-of-day quote.57.02%
MICROSOFT CORPORATION -1.42% 272.43 Delayed Quote.16.99%
TRS INFORMATION TECHNOLOGY CO., LTD. 2.91% 25.14 End-of-day quote.114.51%
All news about IFLYTEK CO.,LTD
03/05IFlytek to Roll Out New Robots in 2023
MT
03/03At China political meeting, internet bosses are out, chip execs are in
RE
02/23ChatGPT Chatbot to Threaten Human Race in Two-Three Years
MT
02/23Chinese Shares Finish Lower; iFlytek Falls Nearly 4% on ChatGPT Plans
MT
02/22IFlytek Plans ChatGPT-Like Tech in Products
MT
02/10Nomura Adjusts iFlytek's Price Target to 45 Yuan From 43 Yuan, Keeps at Neutral
MT
02/10ChatGPT frenzy sweeps China as firms scramble for home-grown options
RE
02/07ChatGPT mania pumps up Chinese AI technology stocks
RE
02/01U.S. investors have plowed billions into China's AI sector, report shows
RE
01/30Iflytek to Log Up to 70% Drop in 2022 Profit
MT
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Analyst Recommendations on IFLYTEK CO.,LTD
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Financials
Sales 2022 20 419 M 2 966 M 2 966 M
Net income 2022 750 M 109 M 109 M
Net cash 2022 4 782 M 695 M 695 M
P/E ratio 2022 191x
Yield 2022 0,15%
Capitalization 134 B 19 512 M 19 512 M
EV / Sales 2022 6,34x
EV / Sales 2023 4,89x
Nbr of Employees 14 307
Free-Float 67,3%
Chart IFLYTEK CO.,LTD
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Technical analysis trends IFLYTEK CO.,LTD
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Mean consensus BUY
Number of Analysts 19
Last Close Price 60,46 CNY
Average target price 51,93 CNY
Spread / Average Target -14,1%
EPS Revisions
Managers and Directors
Xiao Ru Wu President & Director
Duan Dawei Chief Financial Officer, Director & Vice President
Qingfeng Liu Chairman
Ling Ling Gao Chairman-Supervisory Board
Jian Hua Liu Independent Director
Sector and Competitors
1st jan.Capi. (M$)
IFLYTEK CO.,LTD57.02%20 255
MICROSOFT CORPORATION16.99%2 057 318
SYNOPSYS INC.17.11%56 949
CADENCE DESIGN SYSTEMS, INC.27.29%56 081
DASSAULT SYSTÈMES SE10.48%52 468
SEA LIMITED59.98%46 759
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