SenseTime Group Expects to Record Profit in H1; Shares Jump 12%
MT Newswires Live
Aug 17
SenseTime Group (HKG:0020) expects to record profit in the range of 500 million yuan to 700 million yuan for the January to June period, turning around from a loss of 1.49 billion yuan a year prior, according to a Monday Hong Kong bourse filing.
The partly state-owned publicly traded artificial intelligence company expects its half-year adjusted net loss to decline 60% to 70% on an on-year basis, marking a faster reduction in adjusted losses compared with the year-ago period, the filing said.
Shares of the company jumped 12% in recent trade.
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