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<Research>CMBI Trims SENSETIME-W (00020.HK) TP to $1.85, Rating Buy
Recommend 61 Positive 116 Negative 45 |
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CMBI released a research report on SENSETIME-W (00020.HK), noting that the company’s total revenue for 2024 grew 11% YoY to RMB3.77 billion, behind the consensus of RMB4.5 billion, in wake of a decline in traditional AI business revenue. The adjusted net loss narrowed 21% YoY to RMB4.25 billion, but this missed expectations, given higher-than-anticipated R&D spending in the AI sector. Driven by growth in computing power and the continuous enrichment of industry solutions, management remains optimistic about the revenue growth of its generative AI business this year. The broker projected that, propelled by the generative AI segment, total revenue will hike 27% YoY for 2025. However, factoring in increased AI investments, the broker widened its forecast for 2025’s adjusted net loss from RMB2.1 billion to RMB2.75 billion. The broker trimmed its target price for SENSETIME-W from HKD2 to HKD1.85, while maintaining its Buy rating. AAStocks Financial News |
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