iFlytek establishes a new company in Tibet with a registered capital of 5 million
iFlytek has established a new subsidiary in Tibet, named Tibet Xunzhi Future Technology Co., Ltd., with a registered capital of 5 million RMB. This new entity will focus on developing AI software and platforms, indicating iFlytek's expansion in AI infrastructure. Additionally, iFlytek's subsidiary, iFly Intelligence, has secured a contract worth approximately $130 million for equipment supply to a power plant reconstruction project in Iraq. AI
IMPACT Expands iFlytek's AI infrastructure and software development capabilities, while also securing a major international contract for its industrial arm.