Iflytek plans private placement for AI education, computing power

Iflytek announced revisions to its preliminary proposal for a private placement of A-shares for 2025. The company plans to raise up to 400,000 yuan to fund three key projects: the Spark Education Large Model and Typical Products, the Computing Platform, and Supplementary Working Capital. These revisions were approved at the company's 15th meeting of the Sixth Board of Directors on September 29, 2025.

The Spark Education Large Model project, with a total investment of 112,571 yuan and a proposed use of 80,000 yuan from the offering, aims to enhance AI smart classrooms and AI learning devices. The Computing Platform project will receive 240,000 yuan out of a total investment of 240,000 yuan, strengthening the company’s AI infrastructure. Additionally, 80,000 yuan will be allocated to supplement working capital to support ongoing research and development.

This issuance is critical for Iflytek to reinforce its position in AI education and maintain its competitive edge in computing power, aligning with national strategies for AI development and educational digitalization. The private placement is expected to increase the company’s total assets and net assets, reducing its asset-liability ratio and enhancing financial stability.