SenseTime's (0020) adjusted net loss last year - which excludes non-cash factors such as share-based compensation and fair value changes on financial assets - widened by 234 percent year-on-year to 4.7 billion yuan (HK$5.4 billion).
Its net loss, however, narrowed by 65 percent to 6.05 billion yuan in the same period. No dividend was declared.
Revenue for the Chinese artificial intelligence giant during the period dropped 19 percent from a year ago to 3.8 billion yuan.
Specifically, revenue from the smart business segment declined 25.2 percent year-on-year to 1.46 billion yuan, while income from the smart city division fell by 48.8 percent to 1.1 billion yuan.
Sales from the smart life segment, however, posted an increase of 130 percent to a record 955.1 million yuan and revenue from the smart auto business also jumped 58.9 percent to 292.7 million in 2022.
On AI-generated content, SenseTime said it has made technological breakthroughs in its models in the past year. Its programs can create corresponding images using Chinese poetry as prompts as well as generate 6K ultra-high-definition images.
On natural language processing, the company said it has developed a large pre-trained model with over 100 billion parameters to improve the performance of text generation and human-computer dialogue and will launch the model and its capabilities in the market in the middle of this year.
Shares of SenseTime dipped 4.6 percent in Hong Kong yesterday ahead of the financial results as SoftBank continued to reduce its holdings in the firm, offloading more than 190 million shares on March 21, and cashing out about HK$516 million, .
Its holdings in SenseTime, as a result, dropped to 14.78 percent from 15.51 percent.
