Jinwu Financial News | SenseTime (00020) announced its interim performance for the six months ended June 30, 2024. During the period, the company's equity holders' share of losses amounted to 2.457 billion yuan (RMB), a year-on-year decrease of 21.33%; basic loss per share was 0.08 yuan. No interim dividend is declared.
During the period, the group's revenue was 1.74 billion yuan, a year-on-year increase of 21.4%. The announcement stated that in the first half of 2024, the group achieved significant revenue growth, and the daily new large-scale model capabilities made a leap-like improvement, with a rapid decrease in model inference costs and a significant increase in model calls. Among the three major businesses, the revenue of generative AI was 1.051 billion yuan, a sharp year-on-year increase of 255.7%, accounting for 60.4% of the group's revenue; the revenue of "Jueying" smart automobile business was 0.168 billion yuan, a year-on-year increase of 100.4%; the revenue of traditional AI was 0.52 billion yuan, a year-on-year decrease of 50.6%.
At the same time, the company's overseas business has also steadily grown, with a year-on-year growth rate of 40.1% and accounting for 18.5% of the group's revenue. In the first half of 2024, the group's overall gross profit was 0.767 billion yuan, a year-on-year increase of 18.2%, with a gross margin of 44.1%. While increasing investment in the development of large-scale models, the group actively optimized operating expenses to reduce losses. Sales expenses were 0.329 billion yuan, a year-on-year decrease of 21.2%; administrative expenses were 0.735 billion yuan, a year-on-year decrease of 7.7%; research and development expenses were 1.892 billion yuan, a year-on-year increase of 6.1%; and the number of research and development personnel was 3,399. Compared with the same period last year, the overall loss during the period decreased by 21.2% to 2.477 billion yuan.