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CLSA Cuts SENSETIME-W (00020.HK) TP to $2.7 as Results Beat w/ Rating Outperform
2026-03-30 15:58:18
SENSETIME-W (00020.HK)'s 2025 results were above market consensus, with revenue increasing by 33% YoY, CLSA released a research report saying. Its 2H25 EBITDA turned positive to RMB376 million. The management had a positive 2026 outlook, expecting revenue to grow by 25-30% YoY, and adjusted EBITDA to turn around this year.

CLSA raised its 2026/ 2027 revenue forecasts for SENSETIME-W by 4% to RMB6.4 billion/ RMB8.2 billion each, reflecting accelerated growth in the generative AI business. However, considering the intensified competition in China's AI model industry, the broker cut its target price from $3 to $2.7.

CLSA believed the Company's current valuation is more reasonable compared to other Hong Kong-listed AI model peers, with rating kept at Outperform.
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