According to Zhitong Finance APP, SenseTime Technology (00020) recently officially released the full version of SenseNova 6.8 Flash. The most notable upgrade of this model is not the parameter scale, but the dual upgrade of intelligence and aesthetics, with office and design capabilities both online. Through multiple benchmark evaluations, the model outperforms some international frontier models in scenarios such as agent collaboration, data analysis, and presentation generation, placing it in a leading position among domestic industry models.
Since the beginning of this year, the capital market's attitude toward SenseTime has also been changing simultaneously. SenseTime has successively been included in three new indexes, and multiple brokerages have successively released initial coverage reports. Signals from both the product side and the capital side are pointing to the same judgment: SenseTime Technology is moving from technological leadership to value realization.
Multiple Index Institutions Include SenseTime-W, Liquidity Continues to Rise
Since 2026, SenseTime Technology has repeatedly received authoritative recognition in international capital markets, with market liquidity and global allocation value continuing to rise. In February, SenseTime was officially included in the MSCI China Index, a core global investment benchmark, further broadening the allocation channels for international long-term and passive funds. As is well known, the MSCI index is a "wind vane" for global capital allocation, and every index adjustment may trigger large-scale capital reallocation.
For a long time, SenseTime Technology has always been a core weighted constituent of the Hang Seng AI Theme Index, firmly ranking among the core weighted stocks of the Hang Seng AI Theme Index. After the major revision of the Hang Seng AI Theme Index in June, SenseTime continued to rank among the top five constituents, with a weight of 7.8%. On October 23, the Hong Kong Stock Exchange officially launched the first AI-themed index, the Hong Kong Stock Exchange AI Index, with SenseTime ranking fourth in the entire market with a weight of 6.46% and first among AI model constituent stocks, fully confirming SenseTime's core benchmark position in the full-stack AI ecosystem. The Hong Kong Stock Exchange also announced during the same period that it had signed an authorization agreement with Southern Fund, planning to launch ETF products tracking the index in mainland China.
Multiple International Banks Initiate Coverage, SenseTime Moves Toward "Value Verification"
At the same time, SenseTime's commercialization results and long-term growth potential have also attracted increasing close attention from more top international investment banks. This year, multiple international banks including J.P. Morgan and UBS have strengthened in-depth research and real-time coverage of SenseTime. J.P. Morgan initiated coverage of SenseTime in September with an "Overweight" rating, noting that SenseTime's infrastructure and multimodal deployment will become core drivers of future growth. J.P. Morgan believes that SenseTime's most prominent scarcity lies in its ability to "convert large-scale, heterogeneous computing power into reliable production-grade intelligence."
The bank predicts that the company's revenue compound annual growth rate from 2026 to 2028 will reach 28%, and that adjusted net profit will turn from loss to profit of 179 million yuan in fiscal year 2027, with its 2028 revenue and profit forecasts exceeding market consensus by 3% and 148% respectively. In November, UBS also officially initiated coverage of SenseTime, recognizing its transformation direction, customer base, and full-stack technical capabilities. During the same period, East Money Securities also initiated coverage with an "Overweight" rating based on SenseTime's steady revenue and gross profit growth and significantly narrowed adjusted net loss.
Dense authoritative index inclusions and foreign bank coverage are continuously strengthening the long-term consensus of global capital markets on SenseTime's AI commercial value. Whether it is the iterative upgrade of SenseNova 6.8 Flash, the constituent stock lists of three indexes, or three initial coverage reports, these jointly point to the fact that SenseTime is transforming from a company that "proves technology" into a company that "proves delivery." As for the speed of delivery, the adjusted EBITDA and cash flow statements in the coming quarters will provide the answer.
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