Black Sesame International Holding Limited (2533) AI Stock Analysis

• Market Cap: HK$12.53B
• Dividend Yield: N/A
• Average Volume (3M): 13.69M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.48
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: HK
• Employees: 973
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Semiconductors
• EPS (TTM): N/A
• Shares Outstanding: 640,751,100
• 10 Day Avg. Volume: 14,554,165
• 30 Day Avg. Volume: 13,692,251
• PEG Ratio: -0.76
• Price to Book (P/B): 14.08
• Price to Sales (P/S): 32.46
• P/FCF Ratio: -12.36
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$23.66
• Price Target Upside: 21.02% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: HK$18.50 ▼(-5.37% Downside)

The overall stock score is primarily influenced by financial performance challenges, including negative profitability and cash flow issues. Technical analysis indicates bearish momentum, further impacting the score. The absence of valuation metrics adds uncertainty to the stock's assessment.

Positive Factors

Revenue Growth

Significant revenue growth indicates strong market demand for AI chips and semiconductor solutions, supporting long-term business expansion.

Improved Equity Position

Improved equity position enhances financial stability, providing a stronger foundation for future growth and investment opportunities.

Industry Demand

Growing industry demand for AI technology supports sustained revenue streams and positions the company well in the expanding semiconductor market.

Negative Factors

Profitability Challenges

Ongoing profitability challenges due to negative margins indicate operational inefficiencies, which could hinder long-term financial health.

High Leverage Risks

High leverage could strain financial flexibility and increase vulnerability to economic downturns, impacting long-term sustainability.

Negative Cash Flow

Negative cash flow highlights difficulties in generating sufficient cash from operations, which may limit growth and investment capabilities.

Black Sesame International Holding Limited Business Overview & Revenue Model

Company Description

Black Sesame International Holding Limited, an investment holding company, provides autonomous driving system on chip (SoC) and SoC based solutions. The company's automotive-grade SoCs includes the Huashan series high-computing power SoCs for autonomous driving applications; and the Wudang series cross-domain SoCs for functionalities of intelligent vehicles, such as smart cockpit and automotive gateway. It also offers autonomous driving support software solutions; and engages in the IP holding and licensing, sales and marketing, and investment activities. The company was incorporated in 2016 and is headquartered in Wuhan, China.

How the Company Makes Money

Black Sesame International generates revenue primarily through the sale of its AI and smart driving technologies, which include licensing agreements for its software and proprietary algorithms. The company has key revenue streams from partnerships with automotive manufacturers, which integrate its technologies into their vehicles. Additionally, revenue is derived from research and development collaborations with other tech firms and government entities, as well as from providing consulting services related to AI deployment in automotive applications. The growth of the smart vehicle market and increasing demand for automation solutions significantly contribute to the company's earnings.

Black Sesame International Holding Limited Financial Statement Overview

Summary

The company has shown significant revenue growth, but profitability remains a challenge with negative net profit, EBIT, and EBITDA margins. The balance sheet shows improved equity but high leverage risks, and cash flow issues persist with negative free cash flow.

Income Statement

The company has shown significant revenue growth over the past years, with a revenue increase from $60.5M in 2021 to $474.3M in 2024. However, the net profit margin remains negative due to substantial net losses, indicating challenges in achieving profitability. The EBIT and EBITDA margins are also negative, reflecting ongoing operational inefficiencies.

Balance Sheet

The company's balance sheet shows improvement in stockholders' equity, moving from negative equity to a positive $1.09B in 2024. However, the debt-to-equity ratio is relatively high, suggesting potential leverage risks. The equity ratio has improved, indicating better financial stability, but the company still faces challenges in managing liabilities.

Cash Flow

The company has consistently reported negative free cash flow, indicating cash outflows exceeding inflows. The operating cash flow to net income ratio is negative, highlighting difficulties in converting income into cash. Despite improvements in financing cash flow, the overall cash flow position remains weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	547.00M	474.25M	312.39M	165.44M	60.50M
Gross Profit	167.33M	194.71M	77.14M	48.63M	21.87M
EBITDA	-1.61B	441.35M	-4.77B	-2.70B	-2.33B
Net Income	-1.55B	313.31M	-4.86B	-2.75B	-2.36B
Balance Sheet
Total Assets	2.83B	2.32B	1.92B	2.15B	1.76B
Cash, Cash Equivalents and Short-Term Investments	2.11B	1.62B	1.31B	1.69B	1.55B
Total Debt	679.18M	722.40M	12.64B	82.63M	163.72M
Total Liabilities	1.13B	1.22B	13.01B	8.66B	5.43B
Stockholders Equity	1.70B	1.09B	-11.09B	-6.51B	-3.66B
Cash Flow
Free Cash Flow	-1.21B	-1.25B	-1.19B	-825.75M	-673.13M
Operating Cash Flow	-1.17B	-1.19B	-1.06B	-754.67M	-639.32M
Investing Cash Flow	-237.24M	-223.01M	546.70M	-732.80M	-31.82M
Financing Cash Flow	2.45B	1.55B	809.13M	804.17M	2.00B

Black Sesame International Holding Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 19.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2533, the sentiment is Negative. The current price of 19.55 is below the 20-day moving average (MA) of 20.00, below the 50-day MA of 21.24, and below the 200-day MA of 19.70, indicating a bearish trend. The MACD of -0.41 indicates Positive momentum. The RSI at 44.59 is Neutral, neither overbought nor oversold. The STOCH value of 19.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2533.

Black Sesame International Holding Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
0085	61 Neutral	HK$2.62B	6.29	17.96%	6.98%	-18.35%	-6.00%
1385	59 Neutral	HK$50.86B	69.34	7.85%	0.20%	12.62%	-4.75%
2878	56 Neutral	HK$1.10B	21.26	4.98%	―	-25.16%	-51.97%
1347	50 Neutral	HK$144.65B	2,381.67	0.12%	0.23%	19.15%	-94.32%
2533	45 Neutral	HK$12.53B	―	―	―	―	―
1912	43 Neutral	HK$94.88M	-0.87	―	―	―	―

Black Sesame International Holding Limited Corporate Events

Black Sesame Updates on Potential Acquisition of Zhuhai Eeasy Technology

Black Sesame International Holding Limited has announced an update regarding its potential acquisition of Zhuhai Eeasy Technology Co., Ltd. The acquisition, valued between RMB400 million and RMB550 million, aims to secure a majority stake in the target company, which will become a non-wholly owned subsidiary of Black Sesame. The transaction is expected to be completed by the first quarter of 2026, although no binding agreement has been signed yet. Stakeholders are advised to exercise caution as the acquisition may not proceed.

Black Sesame Partners with Zhichi Zhiyuan for Strategic Technological Advancements

Black Sesame International Holding Limited has entered a strategic cooperation agreement with Jiangsu Zhichi Zhiyuan Holding Co., Ltd. to enhance their capabilities in optical communication technology for automobiles and smart terminals. This partnership aims to accelerate the commercialization of Black Sesame’s core technologies, expand market share in the assisted driving sector, and develop cutting-edge solutions for future automotive and industrial applications. The collaboration is expected to create sustainable value for investors by building a leading industrial chain ecosystem.

Black Sesame International Grants 659,000 Awards to Employees

Black Sesame International Holding Limited announced the grant of 659,000 awards to 18 employees under its Post-IPO Share Plan on October 21, 2025. The awards are structured with a time-based vesting schedule and include a clawback mechanism, ensuring the company’s control over the awards in cases of resignation or misconduct. This move is part of the company’s strategy to incentivize and retain its workforce, potentially impacting its operational efficiency and market positioning positively.

Black Sesame International Enhances Governance and Clarifies Share Plan

Black Sesame International Holding Limited has announced supplemental information regarding its corporate governance measures and Post-IPO Share Plan. The company has implemented robust corporate governance measures to protect shareholder interests, particularly focusing on potential conflicts of interest with its single largest shareholder, Mr. Shan. Additionally, the company has clarified details about its Post-IPO Share Plan, stating that no options or awards have been granted yet, and outlined the conditions under which shares may be issued in the future.