Black Sesame International Holding Limited (HK:2533)
:2533
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Black Sesame International Holding Limited
(2533)
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Rating:41Neutral
Price Target:
HK$17.50
▼(-11.53% Downside)
Action:ReiteratedDate:04/10/26
The score is primarily held back by weak financial quality—persistent cash burn and inconsistent profitability despite rapid revenue growth. Technicals add further pressure with a clear downtrend and negative MACD, while valuation offers limited support because the negative P/E is driven by losses and there is no dividend yield.
Positive Factors
Strong Revenue Growth
Sustained high top-line growth (≈52% in 2024 and ≈46% in 2025) with rising gross profit dollars indicates the company is scaling revenue and unit economics. Durable revenue expansion builds market presence, supports investment in product development, and creates potential for margin improvement if operating costs are stabilized.
Negative Factors
Persistent Negative Cash Flow
Operating cash flow and free cash flow have been negative each year, with deterioration in 2025. Persistent cash burn forces reliance on external financing, increases dilution or debt risk, constrains discretionary R&D or capex, and heightens liquidity and execution risk until operations generate consistent positive cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Sustained high top-line growth (≈52% in 2024 and ≈46% in 2025) with rising gross profit dollars indicates the company is scaling revenue and unit economics. Durable revenue expansion builds market presence, supports investment in product development, and creates potential for margin improvement if operating costs are stabilized.
Read all positive factors
Black Sesame International Holding Limited (2533) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$12.01B
Dividend YieldN/A
Average Volume (3M)13.69M
Price to Earnings (P/E)―
Beta (1Y)1.45
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees973
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-1.18
Shares Outstanding678,530,940
10 Day Avg. Volume14,554,165
30 Day Avg. Volume13,692,251
Financial Highlights & Ratios
PEG Ratio0.31
Price to Book (P/B)8.98
Price to Sales (P/S)13.00
P/FCF Ratio-10.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$26.20Price Target Upside32.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.74
Revenue Forecast (FY)HK$1.43B
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 auto...
Black Sesame International Holding Limited Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
41
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 547.00M | 822.33M | 474.25M | 312.39M | 165.44M | 60.50M |
| Gross Profit | 167.33M | 223.17M | 194.71M | 77.14M | 48.63M | 21.87M |
| EBITDA | -1.61B | -1.29B | 441.35M | -4.77B | -2.70B | -2.33B |
| Net Income | -1.55B | -1.39B | 313.31M | -4.86B | -2.75B | -2.36B |
Balance Sheet | ||||||
| Total Assets | 2.83B | 2.65B | 2.32B | 1.92B | 2.15B | 1.76B |
| Cash, Cash Equivalents and Short-Term Investments | 2.11B | 1.53B | 1.62B | 1.31B | 1.69B | 1.55B |
| Total Debt | 679.18M | 778.91M | 722.40M | 12.64B | 82.63M | 163.72M |
| Total Liabilities | 1.13B | 1.49B | 1.22B | 13.01B | 8.66B | 5.43B |
| Stockholders Equity | 1.70B | 1.16B | 1.09B | -11.09B | -6.51B | -3.66B |
Cash Flow | ||||||
| Free Cash Flow | -1.21B | -1.03B | -1.25B | -1.19B | -825.75M | -673.13M |
| Operating Cash Flow | -1.17B | -982.07M | -1.19B | -1.06B | -754.67M | -639.32M |
| Investing Cash Flow | -237.24M | -174.96M | -223.01M | 546.70M | -732.80M | -31.82M |
| Financing Cash Flow | 2.45B | 1.19B | 1.55B | 809.13M | 804.17M | 2.00B |
Black Sesame International Holding Limited Technical Analysis
Neutral
19.78
Price Trends
18.28
Negative
19.46
Negative
19.50
Negative
Market Momentum
-0.39
Negative
53.33
Neutral
87.46
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2533, the sentiment is Neutral. The current price of 19.78 is above the 20-day moving average (MA) of 16.94, above the 50-day MA of 18.28, and above the 200-day MA of 19.50, indicating a neutral trend. The MACD of -0.39 indicates Negative momentum. The RSI at 53.33 is Neutral, neither overbought nor oversold. The STOCH value of 87.46 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2533.
Black Sesame International Holding Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | HK$2.25B | 11.13 | 6.65% | 6.98% | -7.14% | -59.92% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | HK$999.10M | 33.80 | 4.98% | ― | -17.88% | -60.44% | |
54 Neutral | HK$217.65B | 314.51 | 0.84% | 0.23% | 20.29% | -1.94% | |
53 Neutral | HK$53.14B | 149.23 | 3.71% | 0.20% | 17.21% | -54.17% | |
46 Neutral | HK$61.93M | -0.88 | -88.66% | ― | ― | ― | |
41 Neutral | HK$12.01B | -7.50 | -77.31% | ― | ― | ― |
* Technology Sector Average
HK:2533
Black Sesame International Holding Limited
17.70
-2.30
-11.50%
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11.05
39.72%
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0.40
0.01
2.56%
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Hua Hong Semiconductor Ltd.
114.10
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221.86%
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Contel Technology Company Limited
0.47
-0.33
-41.25%
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China Electronics Huada Technology Company Limited
1.11
-0.21
-15.91%
Black Sesame International Holding Limited Corporate Events
Black Sesame International Accelerates Intelligent Driving Chip Rollout Amid Strong 2025 Revenue Growth
Mar 31, 2026
Black Sesame International reported full-year 2025 revenue of RMB 822.3 million, a 73.4% increase from 2024, with its gross profit margin holding steady at about 41%. Despite swinging to a net loss of RMB 1.42 billion, the company narrowed its adj...
Black Sesame International Sets March 31 Board Meeting on 2025 Results and Possible Dividend
Mar 19, 2026
Black Sesame International Holding Limited has scheduled a board meeting for March 31, 2026 to review and approve the group’s annual results for the financial year ended December 31, 2025 and to approve their publication. The board will also...
Black Sesame International Adjusts Share Subscription, Redirects HK$632 Million to R&D and Expansion
Mar 19, 2026
Black Sesame International Holding Limited, a Cayman Islands-incorporated company listed in Hong Kong, develops high-performance intelligent driving chips, robotics-focused semiconductors and edge AI chips for terminal devices. It is building over...
Black Sesame International Plans HK$633 Million Share Subscription to Bolster Capital
Mar 10, 2026
Black Sesame International Holding Limited has entered into a subscription agreement with an identified subscriber for 33,544,600 new shares at HK$18.88 each, representing about 4.99% of its existing issued share capital and 4.75% on an enlarged b...
Black Sesame International Raises HK$538 Million Through Share Subscription to Fund AI and Semiconductor Expansion
Mar 6, 2026
Black Sesame International Holding Limited has completed a share subscription under its general mandate, issuing 28,543,000 new shares at HK$18.88 each to two independent investors. The new shares represent about 4.25% of the enlarged share capita...
Black Sesame Flags Wider Revenue, Narrowing Operating Loss but Steep 2025 Net Loss
Mar 5, 2026
Black Sesame International Holding expects to report more than RMB800 million in revenue for 2025, representing growth of over 68.7% year-on-year, driven by larger-scale mass production of its advanced driver assistance solutions in passenger vehi...
Black Sesame International Grants 345,000 Time-Based Share Awards to Employees
Feb 3, 2026
Black Sesame International Holding Limited has granted 345,000 share awards at no purchase price to 11 employees under its Post-IPO Share Plan, with each award corresponding to one underlying share and the company’s shares closing at HK$19.2...
Black Sesame Co-founder Liu Weihong Steps Down as President, Moves to Non-executive Role
Jan 30, 2026
Black Sesame International Holding Limited has announced that co-founder and current executive director Liu Weihong has been re-designated as a non-executive director and has stepped down as president of the company, effective 29 January 2026, cit...
Black Sesame International Announces Board and Committee Composition
Jan 30, 2026
Black Sesame International Holding Limited, a company incorporated in the Cayman Islands and listed in Hong Kong, operates under a board structure that includes executive, non-executive, and independent non-executive directors, reflecting a typica...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.