BRIEF: SenseTime to raise $405 million via share placement at 8.6% discount
AI company SenseTime Group Inc. (0020.HK) said on Thursday it will raise HK$3.15 billion ($405 million) by placing around 1.75 billion new Class B shares at HK$1.80 per share, representing an 8.6% discount to the previous day’s closing price of HK$1.97. The new shares will account for 4.4% of the company’s enlarged Class B share capital.
SenseTime said 30% of proceeds will be used to support its core business development, including building an industry-leading AI cloud platform, expanding the scale of its AI SenseCore infrastructure, and increasing the use of domestically produced components. Another 30% will go to R&D of generative AI and the development of products derived from the company’s multimodal large language models. The remaining funds will be used to explore AI applications in innovative vertical sectors such as finance and education, as well as for general working capital.
SenseTime noted that funds raised from a previous placement in July have all been fully utilized.
In the first half of 2025, the company’s revenue rose 36% year-on-year to 2.4 billion yuan. Revenue from generative AI surged 73%, while the company’s adjusted net loss for the period narrowed 50% year-on-year to 1.16 billion yuan.
SenseTime’s shares opened lower on Thursday, closing at HK$1.90 by the midday break, down 3.55%.
By Lee Shih Ta
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