Intelligent driving technology company Black Sesame International Holding Ltd. (2533.HK) said on Monday that its 2024 revenue jumped 51.8% year-on-year to 474 million yuan ($65.5 million), as the company reported a net profit of 313 million yuan, reversing a 4.86 billion yuan loss in 2023.
The move into the black was primarily driven by a 2.05 billion yuan gain from fair value changes in financial instruments, in contrast to a 3.18 billion yuan loss on such items in 2023. At the operational level, the company’s operating loss widened 3% year-over-year to 1.75 billion yuan.
Black Sesame’s shares opened up 1.3% at HK$23 on Tuesday. The stock currently trades about 17% below its IPO price last year.
By Lau Chi Hang
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