iFLYTEK Healthcare (02506) 2025 Interim Results: Double increase in revenue and profit, AI engine drives high growth

The Zhitong Finance App learned that on August 20, iFLYTEK Healthcare (02506) released the 2025 interim results report. During the reporting period, the company showed outstanding growth momentum and significant technological breakthroughs, achieving operating income of 299 million yuan, an increase of 30% over the previous year; gross profit of 154 million yuan, an increase of 27% over the previous year, and a high gross margin of 51.5%.

High R&D investment to build a technical moat, medical models continue to lead

In the first half of 2025, the company invested 134 million yuan in R&D, accounting for 45% of revenue. The marginal contribution of R&D investment continues to increase. The core achievement is the Spark Medical Model, the industry's only large-scale model based on national production computing power training. It has reached the top of the Medbench list with a high score, and its comprehensive diagnosis and treatment capabilities in cardiology, pediatrics, and respiratory medicine have reached the level of attending physicians in the top three hospitals. In March, the company launched the Spark Medical Model X1, which has “deep reasoning and thinking ability,” and was upgraded in July to maintain a significant lead in the industry in general medical tasks such as assisted general diagnosis, interpretation of physical examination reports, health consultation, and medical guidance.

In order to overcome the “last mile” problem of clinical implementation of the big model, the company cooperated deeply with top domestic medical institutions such as West China Hospital of Sichuan University, Qilu Hospital of Shandong University, Beijing Anzhen Hospital, and the First Affiliated Hospital of the University of Science and Technology of China to jointly build a major specialist model to promote the accurate application and value release of AI in clinical scenarios. At present, Spark Medical's big model has been implemented in more than 20 leading hospitals across the country, deeply empowering clinical practice.

GBC's three parties work together, and the growth momentum is diverse and strong

The company has built a collaborative development business matrix covering the government side (G), hospital side (B), and consumer side (C) side (C).

G-side, grassroots solution revenue increased 52% year over year, and regional solutions increased 178% year over year. The core product “Intelligent Medical Assistant” is the only AI system in the industry that has passed the comprehensive written test of the National Medical Practitioner Qualification Examination. It has covered 697 districts and counties and more than 75,000 grass-roots institutions across the country, and has completed more than 1.01 billion AI-assisted diagnoses. Its implementation ability and clinical value have been fully verified, and its competitive barriers have been continuously strengthened through continuous accumulation of clinical feedback data. At the same time, AI infectious disease prevention and control solutions have been applied on a large scale in Anhui, Jiangxi, Zhejiang, Shaanxi, Hunan and other provinces.

On the B-side, hospital solutions have been implemented in more than 500 grade hospitals, including the First Affiliated Hospital of the University of Science and Technology of China, Peking Union Medical College Hospital, and West China Hospital of Sichuan University, providing AI solutions for nearly 20 hospitals through level 5 electronic medical records and level 3 evaluation of smart services; it also helps hospitals and doctors improve the efficiency and quality of accurate diagnosis, scientific treatment and systematic management.

On the C-side, patient management revenue increased 10.1% year over year, and the AI health assistant “iFLYI”, powered by Spark Medical's big model, completed a total of 140 million AI consultations; smart hardware online and offline omni-channel coverage extended the scope of business to home scenarios outside the hospital through the “hardware+service” model, and built a health management portal for tens of millions of users.

Furthermore, the company's global layout is accelerating, and the Hong Kong bridgehead effect is prominent. In June 2025, the company released the V2.5 international version of the Starfire Healthcare Big Model in Hong Kong, which supports two languages, and simultaneously released the “Hong Kong Edition of the Infinix Healthcare App”. Hong Kong's unique international position, highly integrated medical service systems in Europe and the US, and a large group of doctors with overseas training backgrounds provide a valuable channel for the company to efficiently absorb and integrate local and English medical knowledge and enrich the large model training corpus. It is a core booster for achieving a shift in global model capabilities and accelerating the internationalization process.

Long-Term Doctrine and Policy: Steady in the Original Intent and Taking Advantage

iFLYTEK has always implemented the original intention of “using artificial intelligence to serve a healthy China”, focusing on the long-term principle of smart medical care. Relying on nationally produced autonomous and controllable technology, it is committed to creating an AI diagnosis and treatment assistant for every doctor and an AI health assistant for everyone, making high-quality medical resources fairer and more accessible.

Under the guidance of the “Digital China” and “Healthy China” strategies, the country has intensively introduced policies to promote the integration of AI healthcare. In March 2025, the central government clearly proposed the implementation of the “Health Care Foundation Project”, and 10 departments including the National Health Commission simultaneously issued the “Guidelines for the Informatization Function of Close County Medical Communities”, which require the promotion of AI applications; in April, the National Health Commission issued “Guiding Opinions on Optimizing the Layout and Construction of Primary Healthcare Institutions”, which requires the use of innovative technologies such as telemedicine and AI assisted diagnosis to build a health service system covering the entire life cycle of residents. Provinces such as Zhejiang and Hubei quickly responded to supporting “AI+ Healthcare” local policies, and technology implementation accelerated across the board.

In an era where policy support and technological innovation resonate at the same frequency, iFLYTEK Healthcare is firmly grasping the golden opportunity period for the accelerated development of the AI medical industry with its leading edge in the core technology of the medical model and extensive coverage of mature products throughout the country. In the future, the company will continue to anchor the “top position” development strategy, make full use of policy dividends, continue to promote technological breakthroughs and deepening scenarios in the medical model, and strive to provide better medical services to residents, more convenient and efficient diagnosis and treatment tools for doctors, and make greater contributions to human health and welfare.