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Zhang Shidong

SenseTime Group plans to raise HK$3.25 billion (US$415.2 million) through a share placement to fund investments in advanced artificial intelligence, joining a wave of companies tapping Hong Kong’s equity market amid improving sentiment.
The Chinese AI company planned to sell 1.7 billion shares at HK$1.9 each, representing an 8.6 per cent discount to Thursday’s closing price, it said in a filing to the Hong Kong stock exchange on Friday.
The new shares will account for about 4.04 per cent of its enlarged share capital.
“The company is committed to deepening its native multimodal architecture and exploring differentiated experiences for a new generation of AI-native applications,” SenseTime said. “The placing will provide further financial resources for the company to continue its investments in these areas and to support the general working capital needs.”
SenseTime is the latest to tap the market as a revival in initial public offerings and firmer secondary trading fuel demand for new shares.
The Hang Seng Index has remained resilient this year, posting a gain of 2.1 per cent despite volatility triggered by the oil shock. More than 80 companies have conducted follow-on share sales, raising a combined HK$52.5 billion, according to Bloomberg data.

Shares in SenseTime fell 3.8 per cent to HK$2.01 on Friday, extending their decline this year to 8.6 per cent.
The company said 40 per cent of the proceeds would be used to scale up SenseCore, its AI infrastructure platform, and strengthen its AI cloud stack, which underpinned its token-related strategy. The remainder would go towards generative AI research and development, expanding commercial applications of its technology, and replenishing working capital.
The placement does not require shareholder approval, as it falls under a mandate granted at last June’s annual meeting, which authorised the company to issue up to 7.4 billion new shares. To date, 3.42 billion shares have been issued under that mandate.
SenseTime develops AI software platforms and related services, as well as hardware embedded with its technology. Its products are used across sectors including the internet, robotics, healthcare and finance.
Among the largest follow-on deals in Hong Kong this year, WuXi Biologics had raised HK$5.8 billion, while GF Securities secured HK$3.9 billion, according to Bloomberg.


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Placement priced at an 8.6 per cent discount as the AI firm boosts investment in multimodal models and cloud infrastructure


Placement priced at an 8.6 per cent discount as the AI firm boosts investment in multimodal models and cloud infrastructure.


Chinese AI firm SenseTime to raise US$415 million via share placement

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Placement priced at an 8.6 per cent discount as the AI firm boosts investment in multimodal models and cloud infrastructure

Placement priced at an 8.6 per cent discount as the AI firm boosts investment in multimodal models and cloud infrastructure