Securities code: Iflytek Co.Ltd(002230) securities abbreviation: Iflytek Co.Ltd(002230)
Iflytek Co.Ltd(002230) investor relations activity record
No.: 20220311
■ specific object research □ analyst meeting
Investor relations event □ media interview □ performance briefing
Event category □ press conference □ Roadshow
□ site visit
□ others
Zheng Yu of Huaxia Fund, sun Yijun of Huaxia Fund, Shi Zhixu of Huaxia Fund, names of participating units of Guoshou assets Zhao Huarong, Liu Qi of CITIC asset management, Tang Ying of CITIC asset management, Chen Tao of Harvest Fund, sang Yongliang of Huaxia jiuying, Zhang Lei of Penghua Fund, Yao Jin of CCB fund, Zhao of CCB fund and names of personnel Rong Jie, Zuo Yuanming of CCB fund Han Dongyan of noan fund, Wang Xiaochuan of Yinhua Fund, Tong Li of Huashang fund, Liu Wenshu of CITIC self operated fund and Ni Chenhui of Taikang assets
Time: March 11, 2022
Location: Xicheng District, Beijing Financial Street Holdings Co.Ltd(000402)
Liu Qingfeng, chairman of the board of directors of the listed company; Jiang Tao, the Secretary of the board of directors, introduced the main contents of the investor relations activities. The participating investors exchanged with Mr. Liu Qingfeng, the chairman of the company, and Mr. Jiang Tao, the Secretary of the board of directors, on issues related to the company’s business development. The specific minutes of the meeting are as follows: Q: Chairman Liu Qingfeng, as a deputy to the Fourth National People’s Congress, this year is the 20th year to participate in the two sessions as a deputy to the National People’s Congress. Can you explain the policies of the two sessions on wisdom education for us? A: since this year, the Ministry of education has issued relevant policy documents on how to promote the implementation of “double reduction” by relying on educational informatization. At the two sessions, the premier emphasized the importance of education as a key livelihood. These contents further confirmed Iflytek Co.Ltd(002230) ‘s judgment on the development trend of education in the future.
1. The key points of the Ministry of education in 2022 released on February 8 pointed out: “further promote the” double reduction “, further improve the school homework design level, after-school service level and classroom teaching level, and improve the guarantee mechanism of after-school service funds”. 2. On March 1, at the press conference of “education Spring Festival” of the Ministry of education, LV Yugang, director of the Department of basic education of the Ministry of education, said that “it is planned to hold a national on-site promotion meeting on integrating information technology to deepen teaching reform this year, comprehensively deploy the informatization work of basic education, and promote a number of typical cases including smart classroom and smart homework application”. 3. The government work report on March 5 requires that “China has 290 million students in school, so we should insist on doing a good job in education, which is a major event related to the future of thousands of families and the Chinese nation”, and “promote the equity and quality of education, and implement morality and cultivate people”. 4. IFLYTEK education business base has formed a product pattern that the government encourages recognition, teachers and students actively love to use and parents like to trust. It is the only manufacturer in China with large-scale successful cases in teaching students according to their aptitude. Relevant policies provide a good policy environment for iFLYTEK smart education and release more increment for Iflytek Co.Ltd(002230) education business scenario. In 2020, the company’s “teaching students according to their aptitude” solution was implemented in 17 districts and counties, and 20 new districts and counties were added in 21 years; In terms of application effectiveness, the research group tracked the application of the individualized teaching system in 875 schools in Bengbu and conducted in-depth investigation on 1432 teachers. The research shows that iFLYTEK program generates personalized homework for each student, helps students avoid sea warfare, reduces ineffective and inefficient repeated exercises by 58%, reduces students’ anxiety by 20% and improves their learning interest by 30%, So that students can not only improve their academic ability, but also have more time to participate in sports, art, labor and other courses, cultivate creativity and realize the simultaneous development of five education. At the same time, it helped teachers improve 35.95% of the pertinence of homework comments, 33% of the efficiency of lesson preparation and 36.92% of the pertinence of homework assignments, and achieved a significant improvement in the teaching quality of the continuous college entrance examination in 2020 and 2021. Bengbu was selected into the national “smart education demonstration zone” and the “new teaching and learning model based on teaching reform and information technology” Experimental Zone in 2020. Judging from the current policy situation, the income growth rate of teaching students in accordance with their aptitude will be higher in 22 years. The projects that have been implemented in Q1 include 490 million in Wuhu City, Anhui Province, 55 million in Shaxian District, Sanming City, Fujian Province, 120 million in Fucheng District, Mianyang City, Sichuan Province, etc. Q: Chairman Qingfeng, what are the policy guidelines on strengthening grass-roots medical capacity in the two sessions?
A: the government work report on March 5, 2022 specifically proposed “focusing on promoting hierarchical diagnosis and treatment and optimizing the medical order, accelerating the construction of national and provincial regional medical centers, promoting the extension of high-quality medical resources to cities and counties, improving the ability of grass-roots disease prevention and treatment, so that the people can get better medical services nearby”. This is consistent with iFLYTEK’s concept of promoting the in-depth application of intelligent medical assistant. Based on the innovation of auxiliary diagnosis and treatment technology of “deep model + knowledge reasoning”, intelligent medical assistant provides doctors, especially grass-roots medical personnel, with functions such as medical record quality control, auxiliary diagnosis, rational drug use and medical knowledge retrieval. It has been well applied to provide a bottom-up guarantee for grass-roots medical quality and make high-quality medical resources more equitable and accessible. At present, intelligent medical assistants have covered 280 counties and districts across the country, providing 770000 diagnoses per day, and 170000 valuable revised diagnoses per year, which has significantly improved the diagnostic ability and service level of grass-roots doctors. Q: what does chairman Qingfeng think of the statement on deepening medical insurance reform in the 22-year government work report? 1. The 2022 government work report pointed out: “deepen the reform of medical insurance payment methods and strengthen the supervision of medical insurance funds”. Making the medical insurance fund play a better role has become a major issue related to the national economy and the people’s livelihood. In many provinces, medical insurance fraud and leakage occur, and the medical insurance bureau does not have the manpower to review the rationality of each document. IFLYTEK has recently piloted medical insurance fee control in Changzhi and Luliang, Shanxi, and achieved 100% inspection through AI. 2. Recently, Iflytek Co.Ltd(002230) won the first place in the direction of “accurate decision-making” in the smart medical insurance solution competition hosted by the National Medical Insurance Bureau. “Deep supervision of DRG grouping key information based on full medical records” is the only scheme selected for the major reform of national medical insurance DRG payment system. The saving and sharing of medical insurance funds will become a beneficial exploration for the benefit of the country and the people. It is roughly estimated that if DRG deep supervision is fully introduced, only the high-level group can save more than 12 billion yuan of national medical insurance funds every year. Q: in addition to education and medical policies, what other policy directions deserve special attention? A: 1. Using artificial intelligence to make up for people’s livelihood needs has become a major historical proposition in China’s economic and social construction.
The government work report clearly stated that “we should effectively protect and improve people’s livelihood and strengthen and innovate social governance”. At the same time, it also clearly pointed out the need to “strengthen the construction of digital government and promote government data sharing” and “develop smart cities, accelerate the development of industrial Internet, cultivate strong industrial intelligence and other digital industries” “Improve digital economic governance, release the potential of data elements, and better enable economic development” and other policy directions. In addition, in terms of financial investment, the central government’s transfer payment to local governments increased by about 1.5 trillion yuan, with a scale of nearly 9.8 trillion yuan, an increase of 18%, the largest increase in many years; This year, it is planned to arrange 3.65 trillion yuan of special bonds for local governments to strengthen performance orientation. 2. Iflytek Co.Ltd(002230) through the deep integration of artificial intelligence + expert intelligence + multi-dimensional and multidimensional data, remarkable achievements have been made in areas such as government digital transformation. According to the statistics of media (smart things) in the field of artificial intelligence, in the past year, the top three smart cities with a large order of more than 100 million yuan were iFLYTEK, Huawei and Tencent. The total amount of projects with a total amount of more than 100 million yuan, Iflytek Co.Ltd(002230) ranked first, with a total scale of 1.745 billion yuan; The Jianghuai big data center platform built by iFLYTEK last year has been connected to 16 cities in the province, and the shared interface data of national ministries and commissions ranks among the top three in the country. At the same time, iFLYTEK undertook the operation of Wanshitong, continued to build a bottom platform of sustainable evolution of artificial intelligence + data through data iteration and continuous learning, and built a national benchmark of “data base + app” operation mode in Anhui. Q: the company has set a relatively high goal for learning machine for 22 years. How is the current progress? A: 1. The learning machine has a market potential of more than 10 billion yuan for a single product. In the future, the penetration rate of learning machines will be greatly improved under the existing conditions. According to the data of the Ministry of education, the number of K12 students in China will be about 197 million in 2020, and the penetration rate of learning machines will be about 2.4%; China’s learning machine market continues to grow steadily. It is estimated that the shipment volume will reach about 7.26 million units in 2025, and the scale of learning machine market will reach 25.4 billion yuan. Compared with traditional learning machine manufacturers, Iflytek Co.Ltd(002230) learning function can help children reduce their burden, analyze weak links, and analyze and recommend learning situation based on knowledge map, so as to produce better learning effect and promote confidence with effectiveness.
2. In 2021, the sales volume of learning machines for C-terminal increased by 150%, and users recommended NPs value as the first in the industry. In terms of specific data, in 2021, the weekly use time of learning machine users increased by nearly 70% year-on-year, and the number of answers increased by 53% year-on-year. The learning machine ranked first in the sales volume of JD tmall’s dual platform learning machine category for three consecutive months in December 21, January 22 and February 22. 3. The learning machine business complies with the relevant national policies for personalized learning. The guiding opinions on promoting the construction of new educational infrastructure and building a high-quality education support system issued by six departments including the Ministry of education clearly pointed out that “where conditions permit, popularize personal learning terminals that meet technical standards and learning needs”. Q: please introduce the value and significance of iFLYTEK’s first external voice interaction system in the world? A: Recently, Iflytek Co.Ltd(002230) and Chang’an Auchan jointly created the world’s first off vehicle voice interaction system, starting from the real car scene to solve the pain points in user scenes such as parking, moving and opening the door. For example, if the owner enters the voiceprint in advance and stands outside the car and says “Z6, drive the car out”, Auchan Z6 can automatically drive forward from the narrow parking space. In order to achieve stable and efficient voice interaction outside the vehicle, it is necessary to overcome the problems of noise and long-distance recognition in complex environment. With the support of two original technologies of Iflytek Co.Ltd(002230) intelligent vehicle neural network noise reduction algorithm and “cold start” system, the voice interaction outside the vehicle system can truly achieve 360 degree voice noise reduction and recognition coverage without dead corners, It can not only realize voice wake-up and recognition outside the vehicle, but also realize the linkage function of voice inside and outside the vehicle. At the same time, through voiceprint authentication and Bluetooth key, users’ privacy and safety can also be effectively guaranteed. In the field of intelligent automobile, the company has maintained long-term cooperation with major automobile manufacturers in China. The on-board voice interaction system maintains a market share of more than 60%. From voice module to flying fish intelligent assistant, intelligent cockpit and intelligent sound effect, the product value provided by iFLYTEK to automobile manufacturers is constantly upgraded. Q: with the increasing complexity of the company’s business, what management means does iFLYTEK have to support the 100 billion goal of the 14th five year plan? A: focusing on the objectives of the 14th five year plan, a series of management projects being promoted by the company have gradually achieved results. 1. Implement open budget, plan small combat units, stimulate the vitality of organizations at all levels, and cultivate more “small CEOs” with business and management awareness. 2. Differentiate between incremental and stock businesses and allocate resources differently. The stock business improves quality and efficiency through the rigid requirements of cost package management and per capita efficiency improvement; Incremental business gives more preference to resources and encourages output. Ensure focused investment in the company’s core and strategic business through the “30 / 70” mechanism. 3. The efficient and dynamic allocation of human resources is realized through “project system + matrix system”. 4. Core technology supports core products and core products support solutions; Through component reuse (CBB), the module sharing of GBC three solutions is realized, and the R & D cost is shared.
Date: March 11, 2022
