AI Firm DeepGlint Debuts on Shanghai Stock Exchange

Artificial intelligence firm DeepGlint was officially listed to the Shanghai Stock Exchange on Thursday under ticker symbol “688207,” with an issue price of 39.49 yuan ($6.22) per share, becoming the first AI firm listed on the STAR Market.

DeepGlint was founded in 2013 by Zhao Yong, a former senior researcher at the Google Headquarters Research Institute. By deeply integrating computer vision technology and big data analysis with application scenarios, it provides AI products and solutions for urban management, smart finance, commercial retail, health, transportation operations and other fields.

At the technical level, DeepGlint has built the underlying AI platform – DeepGlint Brain – which integrates data collection, data pre-processing, data annotation, model training, model optimization and other functions, and has built its core technology system based on this platform.

In addition, DeepGlint has formulated five technical directions: model training and data production technology based on deep learning; 3D vision technology; automatic traffic scenario perception and event recognition technology; large-scale cross-mirror tracking technology; and robot perception and control technology.

Among them, 3D vision technology is one of the core competencies of DeepGlint, covering multi-eye sensor calibration and estimation, motion posture analysis, 3D reconstruction and stereo vision analysis.

From 2018 to 2020, the accumulated R&D investment of DeepGlint totaled 283 million yuan ($44.6 million), accounting for 77.37% of its operating income. The proportion of core technology income to main business income in these three years is 96.66%, 95.76% and 97.98% respectively.

From 2018 to 2020, the operating income of DeepGlint was 51.96 million yuan, 71.21 million yuan and 242.7 million yuan respectively, while revenue in the first half of 2021 was 72.19 million yuan.

From 2018 to 2020 and the first half of 2021, the gross profit margin of DeepGlint was 62.60%, 53.13%, 61.57% and 72.37% respectively.

Additionally, DeepGlint turned losses into profits in 2020. From 2018 to 2020, its net operating cash flow was -111 million yuan, -111 million yuan and 35 million yuan respectively, and the net profit attributed to parent company owner’s after deduction was -86.32 million yuan, -115 million yuan and 10.31 million yuan.

SEE ALSO: DeepGlint to List on Shanghai’s STAR Market

When asked about its future development plan, DeepGlint said that it will increase investment in technology R&D in the field of AI, grasp the development trend of advanced technologies such as the Internet of Things, big data and robots, and deeply integrate AI with other advanced technologies.