SenseTime Group: revenue of 1.43 billion yuan in the first half of the year increased by 1.3% over the same period last year, with a gross profit margin of 45.3%

CTOnews.com news on August 28, SenseTime Group released interim results for the six months ended June 30, 2023, with operating income of 1.43 billion yuan in the first half, an increase of 1.3% over the same period last year, gross profit of 650 million yuan, gross profit margin of 45.3%, and operating costs down 6.5% from the same period last year. The net loss was 3.14 billion yuan, and the adjusted net loss was 2.393 billion yuan, which was 2.0% and 6.7% lower than that of the same period last year, respectively.

CTOnews.com noted that in the international market, SenseTime Group earned 229 million yuan in the first half of the year, accounting for 16% of his income. The small increase in group revenue was mainly due to an increase in revenue from smart business and smart living, which was offset by a decline in revenue from smart cities and smart cars.

The group's smart business revenue in the first half of the year was 853 million yuan, an increase of 50.2% over the same period last year, mainly due to taking advantage of the new business opportunities related to generative AI; smart car revenue was 83.9 million yuan, down 30.5% from the same period last year.