ElsieDewey
08-27

$SENSETIME-W(00020)$ SenseTime's interim report, total revenue of 1.7397 billion, up 21.4% year-on-year, reduced losses by about 20%, within expectations;

The highlights are the performance of generative artificial intelligence and Jueying: generative artificial intelligence performance increased by 255.7% year-on-year (reaching 1.0512 billion, 1.2 billion for the whole of last year), and its share in the group's revenue increased from about 30% last year to 60.4%; Jueying's performance increased by 100.4% year-on-year (reaching 168.1 million). Traditional artificial intelligence business shrank significantly, down 50.6% year-on-year; sales expenses fell 21.2% year-on-year, administrative expenses fell 7.7%, and R&D expenses rose 6.1% year-on-year.

In summary, everything is moving in a good direction, and the transformation is relatively successful at present. If the first half of the year's revenue estimated in the performance briefing accounts for about 1/3 of the whole year, then the whole year is expected to exceed 5 billion.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment