Iflytek raises funds to boost AI, computing power

Iflytek has issued a supplementary legal opinion and related announcements concerning its 2025 non-public issuance of A-shares. The company plans to raise up to 400,000.00万元, with proceeds primarily allocated to the Spark Education Large Model and Typical Products project (80,000.00万元), and the Computing Power Platform project (240,000.00万元), with the remainder for working capital. The company's controlling shareholder, Anhui Yanzhi Technology Co., Ltd., intends to subscribe for 2.5亿元 to 3.5亿元.

The issuance aims to reinforce Iflytek's leading position in AI through enhanced R&D, expanded computing power, and strategic investments in AI-related companies. Investments include various AI-focused funds and companies in areas like smart education, smart medical care, and autonomous driving. Iflytek emphasizes adhering to market-based pricing for any potential related-party transactions, ensuring fairness and compliance with regulatory requirements. The non-public issuance is expected to maintain the controlling shareholder’s stake and support the company's long-term growth and competitiveness.