SenseTime soared 20% on the first day of listing

On December 30, AI unicorn SenseTime technology was listed on the Hong Kong stock market, with the largest increase of more than 20% on the first day of listing.

SenseTime issued 1.5 billion shares, the opening price today is 3.910 Hong Kong dollars per share, raising about 6 billion Hong Kong dollars, each lot of 1,000 shares, the entrance fee is 4030.21 Hong Kong dollars, the scale of issuance, the funds raised and the price range have not changed from before.

Founded in 2014, SenseTime submitted an application for listing on the Hong Kong stock market on August 27 this year. According to a previous report released by frost & Sullivan, a third-party consulting firm, SenseTime is the highest-revenue AI company in Asia in 2020.

According to the prospectus, SenseTime is an artificial intelligence software company focusing on computer vision and deep learning technology, the main business includes four major sectors of smart business, smart city, smart life, and smart cars, focusing on artificial intelligence applications such as face recognition, medical image recognition, video analysis, unmanned driving and remote sensing, and is known as the "AI Four Little Tigers" with megvii technology, cloud congong technology and YITU technology.

The company's revenue in 2020 was 3.45 billion yuan, and the revenue in the first half of 2021 was 1.65 billion yuan. Losses for the same period were $880 million and $730 million, respectively.

From the perspective of revenue structure, smart cities and smart businesses are the main sources of revenue for SenseTime. As of the first half of 2021, the revenue realized by the four major businesses of smart business, smart city, smart life and smart car accounted for 39.2%, 47.6%, 8.9% and 4.3% of the company's total revenue, respectively.

As of press time, SenseTime-W was quoted at HK$4.54 per share, up 17.92%.