HONG KONG -- iFlytek, China's leading artificial intelligence technology developer, said it expects to swing to a loss of as much as $65 million for the first half of the year, blaming heavy investments made under "ultimate" pressure from Washington.
The Shenzhen-listed company posted an earnings preview over the weekend saying that its bottom line dipped to a net loss of between 380 million yuan and 460 million yuan ($53.31 million and $64.53 million) in the six months through June. This compares to a net profit of 73.57 million yuan during the same period last year.
