New stock news | iFlytek submits an application to the Hong Kong Stock Exchange. The company is a provider of AI solutions and launched its own large language model, Shanhai Damo, in 23 years.

According to the disclosure by the Hong Kong Stock Exchange on March 30, Yunjiasheng Intelligent Technology Co., Ltd. (hereinafter referred to as "Yunjiasheng") has submitted an application for listing to the Hong Kong Stock Exchange, with CICC and HAITONG INT'L as its joint sponsors. The prospectus shows that Yunjiasheng is a leading artificial intelligence company with full independent intellectual property rights and mastery of the full-stack AGI technology. Yunjiasheng started building the Atlas artificial intelligence infrastructure in 2016. The release of deep learning models such as Transformer in 2017 and BERT in 2018 marked a breakthrough in AI natural language processing shortly afterwards. Leveraging the company's strong R&D expertise in interactive AI and market insights gained since its establishment, the company launched the first BERT-based large language model UniCore as the initial core algorithm model of its central technology platform Yunji Brain, providing a range of AI solutions to customers in various vertical industries. In 2023, Yunjiasheng launched a proprietary large language model called Shanhai Big Model with 600 billion parameters, as a new core algorithm model of the company's central technology platform Yunji Brain, continuously iterating on this model. Since its launch, the Shanhai Big Model has been continuously upgraded to enhance its language capabilities and multimodal reasoning abilities. With its multimodal capabilities, the Shanhai Big Model can handle and integrate information from different modes, making it better able to understand complex scenarios and improve human-machine interaction. With the enhancement of its reasoning abilities through iterations, the Shanhai Big Model's capabilities in handling complex information and tasks have significantly improved. Yunjiasheng provides highly competitive products and solutions for a wide range of applications in life AI and medical AI. According to data from Frost & Sullivan, based on revenue, Yunjiasheng is the fourth largest AI solution provider in China in 2024 among enterprises with annual revenues exceeding 500 million RMB, growing second fastest. In the same year, based on revenue, the company ranked third in China for life AI solutions and fourth for medical AI services and solutions. Financially, during the historical periods, Yunjiasheng's revenue mainly comes from the sale of AI products and solutions. In 2022, 2023, and 2024, Yunjiasheng's revenue was approximately 601 million RMB, 727 million RMB, and 939 million RMB respectively, with a compound annual growth rate of 25%. During the same period, the gross profit was approximately 240 million RMB, 295 million RMB, and 364 million RMB respectively, with a compound annual growth rate of 23.3%.