SenseTime to launch IPO at HKEx
According to the latest news, SenseTime plans to submit a listing application to the Hong Kong Stock Exchange within the next few weeks, with a goal of raising approximately $1 billion USD to $2 billion USD. SenseTime has appointed HSBC and CICC to handle this listing.
Since SenseTime was blacklisted by the United States and is strictly restricted from doing business with US companies, no US investment banks participated in the IPO.
SenseTime’s revenue in the first half of 2021 was $254.7 million USD, compared with $132.7 million USD in the same period last year, an increase of 91.87% year-on-year.
The loss in the first half of the year was $572.7 million USD, compared with a loss of $822.7 million USD in the same period last year.
The adjusted net loss under non-IFRS was $111.1 million USD, and the loss in the same period last year was $169.8 million USD, a year-on-year reduction in losses.
According to Sullivan’s report, SenseTime was the largest AI software company in Asia and the largest computer vision software company in China in 2020.
China’s AI software market has become the fastest-growing market amongst the world’s major markets. It will grow from $4.5 billion USD in 2020 to $25.7 billion USD in 2025, with a compound annual growth rate of 41.5%.
