SenseTime dives 8pc on fears of Softbank sale

SenseTime (0020) yesterday sank more than 8 percent after a stake matching the size of Sofbanks's position in the Chinese artificial intelligence giant appeared in Hong Kong's clearing system.

This prompted speculation Softbank might be selling its stake in the company.

The latest decline of SenseTime's share price may also be because of its continuous losses, market watchers said.

SenseTime's shares have lost 37.6 billion yuan (HK$43.64 billion) in the four years from 2018 to 2021. Earlier this month, the Chinese artificial intelligence giant's shares fell by 46 percent on June 30 after its lock-up period expired and some pre-initial public offering investors withdrew their profits following a March rebound.

Following the plunge, the company repurchased 6.7 million shares on July 19 for HK$14 million.

Meanwhile, Bilibili (9626) was sued for more than 400 million yuan for broadcasting Chinese Basketball Association games without copyright.

The civil ruling paper about the dispute between the CBA and the video streaming firm was issued by the Beijing High People's Court recently.

The paper shows that CBA sued Bilibili's operators, Shanghai Magic Electric Information Technology and Shanghai Kuanyu Digital Technology for 406 million yuan as the latter provided on-demand services for CBA games to the public on a large scale without authorization.