Iflytek raises 4bn yuan for AI education project

Iflytek will issue up to 100 million A-shares to raise up to 4 billion yuan, with 800 million yuan allocated to its Starfire Education Large Model project and 3.2 billion yuan for working capital.

Controlling shareholder Liu Qingfeng will maintain his 11.23%-11.34% stake, with his controlled entity Anhui Yanzhi Technology subscribing for 250-350 million yuan of the issuance.