Credit Brief — iFLYTEK CO.,LTD (科大讯飞)
002230.SZ · Shenzhen Main Board · Data window: 2022–2026 H1 · Sources: official periodic reports filed via cninfo (巨潮资讯网)
All figures are extracted mechanically from official filings and are traceable to source page (see §9). Narrative sections are analyst commentary; mechanical sections are produced without any LLM. Not investment advice. Not a credit rating.
1. Identity & legitimacy
- Legal representative: 刘庆峰
- Registered address: 合肥市高新开发区望江西路 666 号
- Office address: 合肥市高新开发区望江西路 666 号
- Controlling shareholder: None (stated in the filed report)
- Actual controller: 刘庆峰先生及其一致行动人中科大资产经营有限公司
- Employees: 16,818
Source: identity fields above are mechanically extracted from the issuer's own filed annual reports. - Registration data via corporate registry is not included in this build
2. Compliance & legal
Compliance screens (dishonest debtor / enforcement / penalties / business exceptions) require a registry data source not included in this build
3. Business profile
Top customer/supplier tables not generated for this issuer.
4. Financial dashboard (CNY mn)
Assets
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Cash and bank balances | 4,346.4 | 3,562.6 | 3,387.4 | 2,451.2 | 3,863.8 |
| Trading financial assets | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Accounts receivable | 9,869.7 | 12,165.1 | 14,666.5 | 16,295.9 | 17,246.2 |
| Other receivables | 348.8 | 336.7 | 321.2 | 329.0 | 317.7 |
| Inventories | 2,729.1 | 2,459.0 | 2,846.5 | 3,031.0 | 3,936.7 |
| Long-term equity investments | 934.2 | 1,437.2 | 1,539.1 | 1,825.3 | 2,082.9 |
| Fixed assets | 2,571.4 | 4,393.9 | 5,037.4 | 5,976.1 | 5,879.9 |
| Construction in progress | 689.1 | 1,241.0 | 1,032.8 | 163.3 | 315.2 |
| Intangible assets | 2,765.2 | 3,116.5 | 2,916.7 | 4,095.7 | 4,564.1 |
| Total assets | 32,859.1 | 37,831.1 | 41,478.9 | 44,857.1 | 51,202.2 |
Liabilities
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Short-term borrowings | 364.0 | 242.7 | 309.7 | 1,161.4 | 2,715.0 |
| Notes payable | 2,212.1 | 2,776.1 | 2,905.3 | 3,551.6 | 4,054.8 |
| Accounts payable | 5,280.4 | 5,100.7 | 6,162.0 | 7,676.9 | 7,532.5 |
| Contract liabilities | 1,051.6 | 1,156.2 | 1,681.1 | 1,665.7 | 1,795.4 |
| Other payables | 1,193.4 | 883.0 | 570.2 | 569.3 | 532.5 |
| Current portion of non-current liabilities | 421.2 | 942.8 | 1,556.0 | 1,544.8 | 2,960.9 |
| Long-term borrowings | 1,714.1 | 4,554.7 | 4,673.0 | 2,716.2 | 1,905.7 |
| Bonds payable | 0.0 | 0.0 | 0.0 | 809.5 | 802.0 |
| Total liabilities | 16,012.1 | 20,099.1 | 22,764.0 | 24,994.6 | 27,326.2 |
Equity
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Paid-in capital | 2,323.8 | 2,315.4 | 2,311.7 | 2,311.8 | 2,402.1 |
| Capital reserve | 10,032.1 | 9,855.0 | 10,055.8 | 10,023.5 | 13,847.6 |
| Retained earnings | 5,012.3 | 5,369.4 | 5,552.1 | 6,023.4 | 5,819.6 |
| Equity attributable to owners of the parent | 16,400.0 | 17,032.3 | 17,793.4 | 18,794.5 | 22,839.6 |
| Minority interests | 447.0 | 699.7 | 921.5 | 1,068.0 | 1,036.4 |
| Total equity | 16,847.1 | 17,732.0 | 18,714.9 | 19,862.5 | 23,876.0 |
Income statement
| 2022 | 2023 | 2024 | 2025 | 2026 H1 | |
|---|---|---|---|---|---|
| Revenue | 18,820.2 | 19,650.3 | 23,343.1 | 27,105.4 | 11,622.8 |
| Cost of sales | 11,136.4 | 11,266.5 | 13,391.2 | 15,624.4 | 7,002.2 |
| Selling expenses | 3,164.4 | 3,584.0 | 4,083.4 | 5,190.9 | 2,284.7 |
| Administrative expenses | 1,226.8 | 1,370.3 | 1,455.4 | 1,387.9 | 659.6 |
| Finance costs | -78.6 | 15.4 | 134.8 | 173.0 | 122.8 |
| Investment income | 27.4 | 204.9 | 93.0 | 77.2 | 210.2 |
| Operating profit | 295.7 | 429.3 | 282.4 | 589.4 | -406.7 |
| Profit before tax | 247.8 | 419.8 | 229.1 | 593.3 | -403.6 |
| Net profit | 498.6 | 613.1 | 507.0 | 849.5 | -192.7 |
5. Ratios
| Ratio | 2022 | 2023 | 2024 | 2025 | 2026 H1 |
|---|---|---|---|---|---|
| Current ratio | 1.64x | 1.64x | 1.57x | 1.37x | 1.44x |
| Quick ratio | 1.41x | 1.45x | 1.38x | 1.20x | 1.25x |
| Debt-to-asset ratio | 48.7% | 53.1% | 54.9% | 55.7% | 53.4% |
| Total debt / EBITDA | 3.22x | 5.83x | 6.99x | 4.31x | 22.32x |
| EBITDA interest coverage | 9.90x | 64.11x | 6.94x | 8.36x | 3.06x |
| Gross margin | 40.8% | 42.7% | 42.6% | 42.4% | 39.8% |
| Net margin | 2.6% | 3.1% | 2.2% | 3.1% | -1.7% |
| Return on equity (ROE) | 3.0% | 3.5% | 2.7% | 4.3% | -0.8% |
| Revenue growth | — | 4.4% | 18.8% | 16.1% | -57.1% |
| Net profit growth | — | 23.0% | -17.3% | 67.5% | -122.7% |
| Receivable days | 191 | 226 | 229 | 219 | 542 |
| Cash received / revenue | 93.7% | 96.9% | 98.1% | 101.1% | 102.4% |
| Operating CF / net profit | 1.26x | 0.57x | 4.92x | 3.78x | 4.90x |
| Free cash flow | -9.8 | -1,432.4 | 867.5 | 1,045.9 | -4,293.3 |
Mechanical risk flags
- ⚠ Current ratio: 1.37 (level: medium, reference threshold: <1.5)
- ⚠ Debt-to-asset ratio: 0.56 (level: high, reference threshold: <0.65)
6. Cross-check flags (mechanical reconciliation)
- 2023 · Cash-flow statement net increase vs balance-sheet cash movement: -789.9 vs -783.7 CNY mn (deviation 0.78%, severity low)
Sources: 2023年年度报告.pdf p.136 「五、现金及现金等价物净增加额」 vs 2023年年度报告.pdf p.126 「货币资金」. CF-statement figure below the balance-sheet movement by 6.2 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2024 · Cash-flow statement net increase vs balance-sheet cash movement: -272.1 vs -175.3 CNY mn (deviation 35.58%, severity mid)
Sources: 2024年年度报告.pdf p.123 「五、现金及现金等价物净增加额」 vs 2024年年度报告.pdf p.114 「货币资金」. CF-statement figure below the balance-sheet movement by 96.8 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2025 · Cash-flow statement net increase vs balance-sheet cash movement: -969.1 vs -936.2 CNY mn (deviation 3.39%, severity mid)
Sources: 2025年年度报告.pdf p.120 「五、现金及现金等价物净增加额」 vs 2025年年度报告.pdf p.109 「货币资金」. CF-statement figure below the balance-sheet movement by 32.9 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review. - 2026Q2 · Cash-flow statement net increase vs balance-sheet cash movement: 1,629.3 vs 1,412.6 CNY mn (deviation 13.3%, severity mid)
Sources: 2026年半年度报告.pdf p.77 「五、现金及现金等价物净增加额」 vs 2026年半年度报告.pdf p.66 「货币资金」. CF-statement figure above the balance-sheet movement by 216.7 CNY mn — typical causes are restricted-cash release or cash-equivalent scope changes; flagged for analyst review.
4 check(s) not run for missing inputs: 前五大应收 vs BS 应收账款; 前五大其他应收 vs BS 其他应收款; 前五大预付 vs BS 预付款项; 授信表内总合计 vs Σ机构行.
Premium tier. The analyst red-flag review and the industry-context commentary (sections 7–8 of the full brief) are not included in this free build. Join the waitlist for early access.
9. Method & provenance
All financial figures above were extracted mechanically from the company's official periodic reports (unit-normalized to CNY). Each key figure carries cell-level provenance — source file, page and original line item. Samples (latest annual period):
| Item | Period | Value (CNY mn) | Source file | Page | Raw line item | Raw value (as filed) |
|---|---|---|---|---|---|---|
| Cash and bank balances | 2025 | 2,451.2 | 2025年年度报告.pdf | 109 | 货币资金 | 2451175870.25 (元) |
| Total assets | 2025 | 44,857.1 | 2025年年度报告.pdf | 110 | 资产总计 | 44857109349.34 (元) |
| Accounts receivable | 2025 | 16,295.9 | 2025年年度报告.pdf | 109 | 应收账款 | 16295940653.57 (元) |
| Fixed assets | 2025 | 5,976.1 | 2025年年度报告.pdf | 110 | 固定资产 | 5976079764.31 (元) |
| Short-term borrowings | 2025 | 1,161.4 | 2025年年度报告.pdf | 110 | 短期借款 | 1161359197.75 (元) |
This brief is built solely on officially filed public disclosures. It is not investment advice, not a credit rating, and not an offer of any service. Figures may contain extraction or caliber effects; verify against the original filings before relying on them.