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SenseTime (00020.HK) Places Shares at ~8.6% Discount, Net Proceeds HKD3.23B
2026-04-17 08:27:06 SenseTime (00020.HK) announced the placement of 1.7 billion shares, representing approximately 4.09% of the enlarged number of Class B shares and about 4.04% of the existing issued shares. The placing price is HKD1.91 per share, representing a discount of approximately 8.61% to the closing price of HKD2.09 on the previous day (16th). The company expects net proceeds from the placing of approximately HKD3.23 billion. About 40% will be used to expand the scale of its artificial intelligence infrastructure, SenseCore AI large-scale computing system, particularly the expansion of domestically produced AI supercomputing clusters based on domestic chips. The company will also upgrade the technology stack of its domestic AI cloud to provide infrastructure support for the upcoming AI token plan. Approximately 30% will be allocated to support research and development in generative AI, with a core focus on continuous innovation of the SenseNova "Rixin" series to achieve global leading standards. This includes, but is not limited to, the development of native multimodal foundation models built on its self-developed NEO architecture, as well as expanding product offerings under the AI token plan to facilitate commercialization. About 20% will be used to continue exploring the integration and application of AI technologies in innovative verticals, including but not limited to empowering education, software-as-a-service (SaaS), and integrated software-hardware products with native AI technologies. The remaining 10% will be used for general working capital. (jl/w)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |