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SenseTime Group, Inc. Class B ( (HK:0020) ) has provided an update.
SenseTime Group Inc. has completed the placing of 1.75 billion new Class B shares under its general mandate at HK$1.80 per share, raising net proceeds of about HK$3.146 billion. The shares, representing roughly 4.3% of the enlarged share capital, were placed with no fewer than six independent institutional investors, none of whom became a substantial shareholder, reinforcing the company’s capital base without concentrating ownership. SenseTime plans to allocate 30% of the funds to develop its core AI businesses, including scaling its SenseCore AI infrastructure, building a native AI cloud, and accelerating the adoption and optimization of domestic GPU chips to reduce costs, improve performance and support large-scale commercial deployment of domestic computing power. Another 30% will support R&D and commercialization of generative AI and its multimodal large models, with investment across data, systems, model architectures and applications to strengthen its product ecosystem and expand penetration into key verticals such as AIGC, finance and public services, underscoring an aggressive push to consolidate its position in China’s rapidly evolving AI market.
The most recent analyst rating on (HK:0020) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on SenseTime Group, Inc. Class B stock, see the HK:0020 Stock Forecast page.
More about SenseTime Group, Inc. Class B
SenseTime Group Inc. is a Cayman Islands–incorporated artificial intelligence company listed in Hong Kong, focused on AI infrastructure, cloud services and multimodal large models. Its core businesses include an industry-leading AI cloud platform and SenseCore AI infrastructure, with a growing emphasis on domestic chip adoption and applications of generative AI across sectors such as intelligent hardware, finance, education, smart government services and marketing.
Average Trading Volume: 531,805,707
Technical Sentiment Signal: Buy
Current Market Cap: HK$82.38B
Find detailed analytics on 0020 stock on TipRanks’ Stock Analysis page.