IThome learned from a source on Friday that Chinese AI-focused unicorn startup SenseTime will seek a listing hearing for the Hong Kong Stock Exchange (HKEx) on Friday, and has communicated with regulatory authorities in accordance with the goal. SenseTime declined to comment on the matter.
As disclosed by the HKEx, SenseTime submitted its listing application on August 27, with China International Capital Corporation Limited, Haitong International Securities Group Limited and HSBC acting as co-sponsors.
SenseTime was established in October 2014, and is mainly engaged in computer vision, such as facial recognition and other means of identity recognition.
Its latest prospectus suggests that the firm earned 1.652 billion yuan ($253.8 million) in the first half this year, up 91.87% from 861 million yuan in the same period last year. Its adjusted net losses in 2018, 2019, 2020 and first half of this year were 221 million yuan, 1.037 billion yuan, 878 million yuan and 726 million yuan, respectively – a cumulative loss of 2.862 billion yuan in three and a half years.
In terms of R&D, the prospectus shows that SenseTime spent 849 million yuan, 1.92 billion yuan, 2.45 billion yuan and 1.77 billion yuan in 2018, 2019, 2020 and the first half of 2021, respectively.
The prospectus also reveals that as of June 30, 2021, SenseTime Software has more than 2,400 customers, including over 250 Fortune 500 companies and listed companies and more than 30 automobile companies. Its business covers 119 cities. The software also empowers more than 450 million smartphones and more than 200 smartphone apps.
Since its establishment, SenseTime has completed at least 10 rounds of financing, and many of its investors are star capital sources, such as SoftBank, Qualcomm Ventures, Poly Capital, Shenzhen Capital Group Co., Ltd., Hopu Fund, Silver Lake, Alibaba, CICC and Suning.com.