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<Research Report>CICC: SENSETIME Bears Short-term Pressure Last Yr, Embraces Common AI This Yr
Recommend 99 Positive 183 Negative 82 2023/03/29 14:43
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SENSETIME-W (00020.HK)'s total revenue last year of RMB3.8 billion dropped 19% YoY, below CICC forecast, in wake of heavier-than-expected pressure from smart city and commercial epidemic business. The net loss attributable to parent company was RMB6.05 billion, down 65% YoY, below estimates. SENSETIME actively deployed multi-modal large models, with the management foretelling that NLP large model and larger volume multimodal large model are likely to be rolled out this year to empower B-side commercial field. Considering the slow recovery of 2G or 2B basic business after the epidemic, CICC lowered SENSETIME's revenue forecast this year by 28.7% to RMB5.12 billion, and retained the adjusted net profit attributable to parent company this year basically intact. CICC kept SENSETIME's TP at $3.6 with rating Outperform. AAStocks Financial News |
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