SenseTime Group, Inc. Class B (HK:0020) has released an update.
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SenseTime Group Inc. has successfully completed the placement of new Class B shares, raising around HK$1.995 billion for the further development of its AI infrastructure and general working capital. The placement, which constituted about 6.45% of the previously issued Class B shares, was conducted under the general mandate with all conditions met. The net proceeds will primarily fund the enhancement of SenseCore, generative AI research, and product development.
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