(Yicai) Jan. 30 -- IFlytek's stock price rose after the Chinese artificial intelligence developer said it expects net profit to have jumped as much as 30 percent last year after the company made strides with large language models.

After surging by 6.9 percent in the morning trading session, iFlytek [SHE: 002230] closed 1.8 percent higher at CNY41.14 (USD5.76) a share.

Net profit was likely between CNY645 million and CNY730 million (USD89.89 million and USD110 million) in 2023, up 15 percent to 30 percent from the previous year, the Hefei-based firm said in an earnings update yesterday. 

Iflytek expects operating revenue to have jumped about 7 percent to more than CNY20 billion (USD2.79 billion), with a gross profit margin not lower than in 2022.

Last October, iFlytek and tech giant Huawei Technologies jointly released China's first platform that supports trillion-parameter LLM training. The pair's hardware devices, the SparkDesk V3.5, which was trained on the platform, will be released on Jan. 30.