June Chen
Chinese artificial intelligence player SenseTime (0020) saw its losses in the first-half narrow by 21.2 percent to 2.48 billion yuan (HK$2.71 billion) compared to a year earlier, as revenue from generative AI surged.
Revenue rose by 21.4 percent to 1.74 billion yuan, accompanied by the sales from the generative AI and smart auto businesses which both saw an increase in the first six months of this year, rising by 255.7 percent and 100.4 percent year-on-year to 1.05 billion yuan and 168.1 million yuan respectively.
Generative AI accounted for 60.4 percent of the company's revenue - its growth was driven by robust demand for large language models and automatic identification and data capture or AIDC in the Chinese market, the company said.
The returns from the smart auto business rose primarily due to an increase in product mass production and V2X-related services revenue.
The company didn't declare any interim dividend.
Its share edged up 0.85 percent to HK$1.18 apiece.
