November 29, 2023

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China’s mentioned tech giants submit history 1st half results

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China’s detailed tech giants, covering artificial intelligence, chips, buyer electronics and cloud solutions, have posted record higher or fast escalating small business success, in spite of the pandemic and US tech sanctions.

The companies, like AMEC, dealing in chip gear producing, and iFlytek, dealing in AI services and units, have announced business enterprise expansion designs and new techniques that will eventually enhance day by day life and improve electronic transformation in China.

Shanghai-centered AMEC (Superior Micro-Fabrication Gear), a top chip-making tools vendor, noted on Wednesday that its earnings hit a record 1.34 billion yuan (US$206.9 million) in the initially 50 percent, a 36.8 p.c 12 months-on-yr advancement. Internet financial gain of 397 million yuan in the time period represented 233.1 p.c expansion from a year ago.

The STAR-listed AMEC presents necessary devices that empower businesses to make chips and display factors that are utilized in smartphones, electronics and automobiles.

In June, AMEC introduced business growth strategies, which includes a new 1.5-billion-yuan investment venture in Lingang place.

Changdian, the Chinese mainland’s top rated chip assembly and screening business, posted a web earnings of 1.32 billion yuan in the initially 50 %, presently surpassing its 2020 whole yr profit. Earnings of 13.8 billion yuan represented 15.4 percent development yr on 12 months.

The company established up an car electronics investigate middle in Shanghai this 12 months to extend its small business portfolio.

Corporations like AMEC, SMIC and Changdian are benefiting from surging chip need in China and globally. Chip-producing and similar companies have greater offer and costs to meet up with need, analysts explained.

STAR-mentioned Kingsoft Business posted net gain of 549 million yuan in the very first 50 percent with 53.5 p.c growth, resulting from income advancement of 70.9 p.c. Its regular monthly energetic user base surpassed 500 million for the to start with time in June.

Kingsoft Business, a area rival of Microsoft Business office, has benefited from need for remote operate and on the net education through the epidemic. It’s predicted to enjoy an vital purpose in digital economic system development in China.

iFlytek, a single of the leading stated AI firms in China, noted net earnings of 420 million yuan, translating to 62.1 % advancement from a calendar year back. Its revenue hit 6.32 billion yuan many thanks to its booming instruction and purchaser-oriented organization.

The AI large presents voice recognition expert services in quite a few industries. It options to spin off its health-related data assistance organization to list independently, the corporation claimed.

China's listed tech giants post record 1st half results

Ti Gong

iFlytek’s devices with AI expert services to strengthen studying performance.