Earnings hit stings China’s iFlytek in wake of US blacklisting

TOKYO — Chinese artificial intelligence powerhouse iFlytek has revealed a $13 million hit to earnings after it was sanctioned by the U.S. over its treatment of Uighur Muslims and other ethnic minorities.

The Shenzhen-listed company disclosed the “expense in dealing with the U.S. entity list” on Tuesday night for the first time since it was blacklisted by Washington last October.

According to the company’s 2019 full year and 2020 first quarter earnings filings — disclosed to the stock exchange simultaneously — the full expense added up to 89. 538 million yuan ($12.7¬†million) and was listed under non-recurring losses.


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