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(Bloomberg) — Voice recognition company Iflytek Co. plunged following news it is on a list of Chinese technology firms that may face restrictions from the U.S.
Iflytek, which says it controls over 70% of China’s speech technology market, slid as much as 8.2% in Shenzhen after people familiar with the matter said the U.S. is considering curbs on the company, as well as Xiamen Meiya Pico Information Co. and Beijing Megvii Co., which is unlisted. Data firm Xiamen Meiya dropped by the 10% daily limit in Shenzhen.
Iflytek hasn’t received official notification from the U.S. about any curbs, board secretary Jiang Tao wrote in a posting on Securities Times-affiliated website egsea.com. The company hopes