OpenAI「珠玉在前」，确实具备参照价值，但是否该成为「追赶」对象依然值得商榷。 回望过去一年风风火火的大模型之战，从最初的拼参数、讲数据到最近的找落地、看应用，「实用主义」成为 2024 年的主节奏。 该如何走出自身大模型之路？抓最前沿的技术趋势，但为开发者设置最低的使用门槛，这是商汤给出的解法。 今天商汤科技正式发布「日日新 SenseNova 4.0」，宣告大模型体系多维度全面升级。 「日日新 SenseNova 4.0」拥有更全面的知识覆盖、更可靠的推理能⼒，更优越的长⽂本理解力及更稳定的数字推理能⼒和更强的代码⽣成能⼒，并⽀持跨模态交互。日日新·商量大语言模型-通用版本（SenseChat V4）综合整体评测成绩水平比肩 GPT 4，相较 GPT 3.5 已经实现全⾯超越。 商汤还率先推出了支持不同模态工具调用的⽇⽇新·商量大语言模型 Function call & Assistants API 版本，为先进的大模型与各类应用服务工具的连接提供便利桥梁，显著降低开发者使用大模型的门槛。 同时，商汤将先进的大模型能力转化为落地实际场景的产品应用，基于最新发布的⽇⽇新·商量大语言模型 Function ...

Financial Performance - Total revenue for the first half of 2023 was RMB 1,433,122,000, a 1.3% increase from RMB 1,415,343,000 in the same period of 2022[8]. - Gross profit decreased by 30.6% to RMB 648,673,000, down from RMB 934,043,000 in the previous year, resulting in a gross margin of 45.3%[8]. - The adjusted EBITDA loss improved by 12.8% to RMB (2,025,854,000) compared to RMB (2,322,546,000) in the first half of 2022[8]. - The adjusted net loss for the group was RMB 2,393.4 million, a reduction of 6.7% compared to the same period last year[18]. - The net loss for the six months ended June 30, 2023, was RMB 3,142.6 million, compared to a net loss of RMB 3,208.0 million for the six months ended June 30, 2022[55]. - The company reported a loss attributable to equity holders of RMB 3,122,744 thousand for the six months ended June 30, 2023, compared to a loss of RMB 3,157,653 thousand in the same period of 2022, indicating a slight improvement in performance[156]. - Basic and diluted loss per share remained at RMB 0.10 for both the six months ended June 30, 2023, and 2022, reflecting consistent performance despite ongoing losses[156][157]. Revenue Segmentation - The smart business segment achieved revenue of RMB 853.6 million in the first half of 2023, a year-on-year increase of 50.2%, with a customer base of 481 and a 59.9% increase in revenue per customer[22]. - The smart living segment's revenue grew by 6.7% year-on-year to RMB 311.8 million, accounting for 21.8% of the group's total revenue, with a customer base of 270[23]. - The smart automotive segment experienced a 573% year-on-year growth in production business, delivering 390,000 vehicles, although overall revenue decreased by 30.5% to RMB 83.9 million due to a shift in collaboration models[28]. - The smart city segment's revenue fell by 57.7% year-on-year to RMB 183.8 million, contributing 12.8% to the group's total revenue, down from 28.8% in 2022[32]. - International business revenue for the first half of 2023 was RMB 229.2 million, contributing 16.0% to total revenue, similar to the previous year's 16.8%[33]. Research and Development - The company upgraded its SenseCore AI infrastructure, increasing the number of GPUs from 27,000 to approximately 30,000, and enhancing computing power from 5 ExaFLOPS to 6 ExaFLOPS[10]. - The company invested approximately 10,000 GPUs in the development of large language models, significantly enhancing their capabilities[11]. - The company is actively developing new features for mobile operating systems based on large language models, collaborating with major smartphone manufacturers[25]. - Research and development expenses decreased from RMB 2,035.3 million to RMB 1,783.2 million, reflecting a strategic focus on cost management[38]. - Research and development expenses increased to RMB 232,732,000 in the first half of 2023, up from RMB 212,666,000 in the same period of 2022, highlighting the company's commitment to innovation[162]. Cost Management - The group has reduced operational costs by 6.5% year-on-year, despite increased investment in large model research and development[18]. - Sales costs rose by 63.0% from RMB 481.3 million to RMB 784.4 million, mainly due to increased hardware costs and subcontracting service fees[43]. - Administrative expenses rose by 3.6% from RMB 768.6 million for the six months ended June 30, 2022, to RMB 796.5 million for the six months ended June 30, 2023, primarily due to increased depreciation and amortization[48]. Cash Flow and Liquidity - The group holds a total of RMB 14,818.7 million in cash, bank deposits, and other fixed-income investments as of June 30, 2023[18]. - Cash and cash equivalents as of June 30, 2023, amounted to RMB 7,153.0 million, down from RMB 7,962.8 million as of December 31, 2022[66]. - Net cash used in operating activities for the six months ended June 30, 2023, was RMB 1,804.8 million, showing stability compared to RMB 1,848.1 million for the same period in 2022[68]. - Net cash generated from investing activities for the six months ended June 30, 2023, was RMB 384.7 million, a significant improvement from a net cash used of RMB 5,721.4 million in the same period of 2022[69]. - Total borrowings increased from RMB 3,228.6 million as of December 31, 2022, to RMB 3,792.8 million as of June 30, 2023[71]. Market and Product Development - The generative AI business recorded strong triple-digit year-on-year growth, driven by the launch of new products such as SenseChat and SenseMirage[10]. - The company launched the medical language model "商量 • 大醫," enhancing hospital diagnostic efficiency and patient services through advanced medical language understanding[26]. - The company plans to launch the upgraded SenseMirage 4.0 model in Q3 2023, which will include a new aesthetic system to enhance product competitiveness[16]. - The AI robot product line saw rapid sales growth, with over 1,000 units sold in June 2023, ranking first in the robot category on major e-commerce platforms[27]. Asset Management - Total assets as of June 30, 2023, amounted to RMB 35,601,390 thousand, a decrease of 4.9% from RMB 37,426,993 thousand as of December 31, 2022[94]. - Non-current assets increased to RMB 16,270,488 thousand, up 2.3% from RMB 15,902,814 thousand year-over-year[94]. - Current assets decreased by 10.2% to RMB 19,330,902 thousand from RMB 21,524,179 thousand[94]. - The company had pledged assets with a book value of RMB 4,401.6 million in buildings and land use rights to secure borrowings[81]. Fair Value and Financial Instruments - The fair value loss on preferred shares and other financial liabilities increased from RMB 5.1 million for the six months ended June 30, 2022, to RMB 10.0 million for the six months ended June 30, 2023[53]. - The fair value of financial assets measured at fair value through profit or loss was RMB 7,489,372,000, compared to RMB 7,308,657,000 as of December 31, 2022, reflecting an increase of approximately 2.47%[121]. - The company reported a significant increase in level 3 financial assets, with a total of RMB 5,475,517,000 as of June 30, 2023, compared to RMB 5,126,995,000 as of June 30, 2022, representing a year-over-year growth of approximately 6.81%[125]. Employee and Operational Metrics - Employee count as of June 30, 2023, was 5,016, reflecting the company's staffing needs[74]. - Employee benefits expenses decreased to RMB 1,909,104,000 in the first half of 2023 from RMB 2,093,511,000 in the same period of 2022, representing a reduction of approximately 8.8%[138]. - The total number of issued shares as of June 30, 2023, was 33,468,925,000, a slight increase from 33,507,400,000 shares as of June 30, 2022[199].

香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限 公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明 確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 SenseTime Group Inc. (cid:14957)(cid:14957)(cid:15521)(cid:12432)(cid:15718)(cid:11882)(cid:11518)(cid:16881)(cid:16127)(cid:11852)(cid:15327) (於開曼群島註冊成立以不同投票權控制的有限公司) （股份代號：0020（港幣櫃台）及80020（人民幣櫃台）） 截 至2023年6月30日 止 六 個 月 之 中 期 業 績 公 告 董事會欣然公佈本集團截至2023年6月30日止六個月的未經審計綜合業績。該 等中期業績乃根據國際會計準則第34號「中期財務報告」編製，且已由核數師及 審計委員會審閱。 主要摘要 財務概要 截至6月30日止六個月 2023年 2022年 佔總收入 佔總收入 金額 百分比 金額 百分比 同比變動 （未經審計） （人民幣千元， ...

Financial Performance - Revenue decreased from RMB 4,700.3 million in 2021 to RMB 3,808.5 million in 2022, representing a decline of approximately 19%[6] - Gross profit fell from RMB 3,277.6 million in 2021 to RMB 2,542.3 million in 2022, a decrease of about 22.4%[6] - Annual loss reduced from RMB 17,177.1 million in 2021 to RMB 6,093.0 million in 2022, showing an improvement of approximately 64.5%[6] - Adjusted EBITDA loss increased from RMB 879.0 million in 2021 to RMB 4,213.4 million in 2022[6] - Adjusted net loss rose from RMB 1,418.4 million in 2021 to RMB 4,736.2 million in 2022[6] - The company reported a loss before income tax of RMB 6,332.812 million for 2022, compared to RMB 17,141.544 million in 2021[4] - The group reported an annual loss of RMB 6,093.0 million, with an adjusted net loss of RMB 4,736.2 million[10] Revenue Breakdown - Revenue from the smart living business reached RMB 955.1 million, representing a year-on-year growth of 129.9%[10] - Revenue from the smart automotive business was RMB 292.7 million, a year-on-year increase of 58.9%[10] - Revenue from the smart business segment decreased by 25.2% to RMB 1,464.3 million, with the segment accounting for 38.4% of the group's total revenue, down from 41.7% in 2021[22] - The smart city segment's revenue fell by 48.8% to RMB 1,096.4 million in 2022, with the segment's contribution to total revenue decreasing from 45.6% in 2021 to 28.8% in 2022[23][27] Research and Development - R&D investment for the year was RMB 3,795.8 million, a year-on-year increase of 24.0%[10] - R&D expenditure, excluding share-based compensation, reached RMB 3,795.8 million in 2022, a 24.0% increase year-on-year, with cumulative R&D investment since 2018 totaling RMB 12,847.1 million[14] - The company aims to achieve significant breakthroughs in AGI technology in the coming years, focusing on high-performance computing infrastructure and advanced hardware capabilities[31] - The development of multimodal large models is a strategic investment area, enhancing capabilities in processing various data types and improving model performance in complex tasks[32] Market Expansion and Strategy - The company aims to enhance its market expansion and product development strategies moving forward[8] - The company plans to lower the cost of AI technology to make it more accessible to individuals and organizations, focusing on developing low-cost, high-performance hardware and software solutions[34] - The company is actively pursuing partnerships with global chip design and manufacturing leaders to enhance AI hardware and chip development for improved computing power and energy efficiency[33] - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[139] Corporate Governance - The board of directors is responsible for leading and controlling the company, ensuring the best interests of the company and its shareholders are prioritized[68] - The board held a total of 4 meetings during the reporting period, including 4 audit committee meetings, 1 remuneration committee meeting, 1 nomination committee meeting, and 2 corporate governance committee meetings[72] - The company has established a robust anti-money laundering system and anti-corruption policies, which are monitored by the audit committee[79] - The corporate governance committee is tasked with ensuring compliance with listing rules and safeguarding provisions related to the company's dual-class share structure[85] Shareholder Communication - The company has established a shareholder communication policy to ensure timely and equal access to information for shareholders[108] - The company emphasizes effective communication with shareholders to enhance investor relations and transparency regarding business performance and strategies[105] - Shareholders are encouraged to participate in annual general meetings, with at least 21 days' notice provided for such meetings[105] Employee and Diversity Policies - The company has implemented gender-neutral hiring policies to ensure equal opportunities for candidates of all skills, backgrounds, and genders[91] - The board currently includes one female member, reflecting the company's commitment to gender diversity, with a goal to maintain this representation level[90] - The gender ratio among employees is 73% male and 27% female, with the company aiming to sustain this diversity level across its workforce[91] Risk Management - The company is committed to maintaining a robust risk management and internal control system to manage risks associated with achieving business objectives[96] - Compliance risk management is a core aspect of the company's risk management activities, ensuring adherence to applicable laws and regulations[99] - The audit committee conducts ongoing reviews of the company's risk management policies and internal control systems, ensuring their effectiveness and adequacy[103] Strategic Investments and Acquisitions - A strategic acquisition of a smaller tech firm is anticipated to enhance the company's capabilities in machine learning[139] - The company is seeking strategic investment and acquisition opportunities, with an allocation of approximately HKD 952.7 million, fully utilized[195] - The company has entered into an exclusive purchase agreement with Shanghai Qianlun and Shanghai SenseTime, granting Shanghai Yuqin irrevocable rights to acquire shares from individual shareholders at nominal prices or other prices approved by Shanghai Yuqin[177] Technology Development - The company developed a high-performance computing system, SenseCore AI, capable of 5.0 exaFLOPS output using 27,000 GPUs[9] - SenseCore supports training of large models with up to 20 trillion parameters simultaneously, with a parallel efficiency of 91.5%[12] - The company emphasizes the importance of technology aligning with human values and social benefits, promoting sustainable development[200] Financial Position - Total assets as of 2022 amounted to RMB 37,426.993 million, compared to RMB 36,944.319 million in 2021[5] - Total liabilities increased to RMB 8,413.133 million in 2022 from RMB 4,957.235 million in 2021[5] - The company's equity attributable to owners decreased to RMB 28,970.224 million in 2022 from RMB 31,892.511 million in 2021[5] Share Buyback and Dividends - The company decided not to recommend the payment of a final dividend for the year ended December 31, 2022, considering the long-term interests of shareholders[112] - The company aims to enhance shareholder value through a share buyback program, allocating 20 million for this initiative[142] Connected Transactions - The independent non-executive directors have confirmed that the ongoing connected transactions were conducted in the normal course of business and on normal commercial terms[170] - The auditor has confirmed that the ongoing connected transactions complied with the relevant agreements and pricing policies[170]

香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限 公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明 確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 SenseTime Group Inc. (cid:14957)(cid:14957)(cid:15521)(cid:12432)(cid:15718)(cid:11882)(cid:11518)(cid:16881)(cid:16127)(cid:11852)(cid:15327) (於開曼群島註冊成立以不同投票權控制的有限公司) (股份代號：0020) 2022 12 31 截 至 年 月 日 止 年 度 之 年 度 業 績 公 告 董事會欣然公佈本集團截至2022年12月31日止年度之綜合財務業績。截至2022年 12月31日止年度的綜合財務報表已由核數師根據國際審計準則審核，並經審 計委員會審閱。 主要摘要 財務概要 12 31 截至 月 日止年度 2022 年 2021年 佔總收入 佔總收入 金額 百分比 金額 百分比 同比變動 （人民幣千元，除非為百分比） ...

SenseTime Group (00020) H2 2022 Earnings Call March 28, 2023 03:00 AM ET Speaker0 Hello, and good afternoon, everyone. Welcome to SenseTime's twenty twenty two annual results announcement. I am today's host, Michael Chan. With us today are doctor Shubi, chairman and CEO, mister Shubi, cofounder and board secretary, and Mr. Wang Zhang, our CFO. Before we begin, we would like to remind you that today's discussion may contain forward looking statements, which involve a number of risks and uncertainties. Actual ...

Financial Performance - Total revenue for the six months ended June 30, 2022, was RMB 1,415,343, a decrease of 14.3% compared to RMB 1,651,809 in the same period of 2021[5]. - Gross profit for the same period was RMB 934,043, representing a gross margin of 66.0%, down from 73.0% in 2021[5]. - The company reported a loss of RMB (3,207,988) for the six months, an improvement of 13.6% compared to a loss of RMB (3,712,873) in 2021[5]. - Adjusted EBITDA for the period was RMB (2,322,546), significantly worse than the adjusted EBITDA of RMB (556,160) in the previous year, reflecting a 317.6% increase in losses[5]. - The adjusted net loss for the period was RMB (2,564,180), a significant increase of 264.9% compared to RMB (702,665) in the same period of 2021[5]. - The net loss for the six months ended June 30, 2022, was RMB 3,208.0 million, compared to a net gain of RMB 206.4 million for the six months ended June 30, 2021[34]. - The company reported a total comprehensive loss of RMB 1,893,618 for the period, compared to RMB 3,474,356 in the previous year, suggesting a reduction in overall losses[64]. - The group reported a basic loss per share of RMB 0.10 for the six months ending June 30, 2022, compared to RMB 0.39 for the same period in 2021[116]. Revenue Breakdown - The smart business segment generated revenue of RMB 570 million, a year-on-year decrease of 12%, with a customer base of 512, down 19%[10]. - The smart city segment achieved revenue of RMB 430 million, a year-on-year decline of 45%, with 15 new cities added[11]. - The Smart Living segment achieved revenue of RMB 290 million in the first half of 2022, representing a 98% year-over-year growth and accounting for 21% of the group's total revenue, up from 9% in 2021[13]. - Smart automotive revenue increased by 71.1% to RMB 120.8 million, attributed to a growing customer base and new partnerships for advanced driver assistance systems[27]. - Revenue from Mainland China for the six months ended June 30, 2022, was RMB 1,140,734 thousand, a decrease of 19.2% compared to RMB 1,412,976 thousand for the same period in 2021[94]. - The total revenue from Southeast Asia for the six months ended June 30, 2022, was RMB 4,213 thousand, a significant decrease of 80.6% from RMB 21,671 thousand in the same period of 2021[94]. Customer Metrics - The number of customers in the Smart Business segment decreased by 19.4% to 512 from 635 in the previous year[6]. - The Smart Life segment saw an 18.1% increase in customers, reaching 183 compared to 155 in 2021[6]. - The Smart Auto segment experienced a 53.8% increase in customers, growing from 13 to 20[6]. - The number of customers served in the Smart Living segment increased by 18% to 183, with average revenue per customer rising by 67%[13]. Research and Development - Research and development expenses for the first half of 2022 amounted to RMB 1.88 billion, representing 133.1% of the revenue[8]. - R&D expenditure reached RMB 2.04 billion in the first half of 2022, with cumulative investment exceeding RMB 10 billion since 2018[17]. - The number of R&D personnel reached 4,093, accounting for 69% of total employees, with an average model production per person increasing by 15% to 6.8 models annually[17]. - The AI model achieved over 90% accuracy in the ImageNet large-scale recognition task, ranking among the top three globally alongside Google and Microsoft[17]. - The company is committed to ongoing research and development in artificial intelligence technology, aiming to enhance its product offerings and market competitiveness[73]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased to RMB 10,373.6 million as of June 30, 2022, from RMB 16,529.5 million at the beginning of the period[44]. - Net cash used in operating activities was RMB 1,848.1 million for the six months ended June 30, 2022, compared to RMB 830.9 million in the same period of 2021[47]. - Net cash used in investing activities was RMB 5,721.4 million, primarily due to investments in financial assets and property purchases[49]. - The company has sufficient financial resources totaling RMB 17,873.1 million as of June 30, 2022, to support business development[44]. - The total amount of structured deposits increased to RMB 466,678,000 as of June 30, 2022, from RMB 2,186,374,000 a year earlier, indicating a significant reduction of about 78.7%[154]. Financial Position - Total assets as of June 30, 2022, were RMB 36,666,655, a decrease from RMB 36,944,319 at the end of 2021[66]. - Total liabilities rose to RMB 5,563,819 from RMB 4,957,235, indicating an increase in financial obligations[66]. - The total equity attributable to equity holders of the company as of June 30, 2022, was RMB 31,102,836 thousand, compared to RMB 31,987,084 thousand at the beginning of the year, reflecting a decrease of approximately 2.8%[68]. - The company’s total liabilities included preferred share liabilities of RMB 1,048,291 thousand and other financial liabilities of RMB 127,877 thousand, contributing to a total liability of RMB 1,176,168 thousand[84]. Strategic Initiatives - The company is focusing on expanding its market presence and enhancing its product offerings in response to the changing market dynamics[5]. - The company aims to strengthen its competitive advantages in smart cities and smart business, enhance autonomous driving technology, and continue the development of AI sensors and consumer robotics[22]. - The company signed strategic agreements with GAC Group to accelerate smart vehicle development and production, with over 3 million units of the smart vehicle cabin AI software delivered[15]. - The company has connected over 1.5 million IoT devices through its urban platform, with an increase of approximately 26% in the first half of 2022[12]. Market Conditions - The company maintained the number one market share in China's AI algorithm analysis software market as of 2021[8]. - The overseas market revenue contribution increased by approximately 760 basis points compared to the full year of 2021, accounting for 19% of total revenue[9]. - The company continues to monitor currency exchange rate fluctuations and will take necessary measures to mitigate their impact[51]. Compliance and Governance - The company received the BS10012:2017 certification for personal information management, demonstrating its commitment to data security and privacy protection[21]. - The interim financial data has been prepared in accordance with International Accounting Standard 34, ensuring compliance with international financial reporting standards[74]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[55].

Financial Performance - The company's revenue increased from RMB 3,446.2 million in 2020 to RMB 4,700.3 million in 2021, representing a growth of approximately 36.4%[7] - Gross profit rose from RMB 2,432.1 million in 2020 to RMB 3,277.6 million in 2021, marking an increase of about 34.8%[7] - The annual loss widened from RMB 12,158.3 million in 2020 to RMB 17,177.1 million in 2021, reflecting an increase of approximately 41.5%[7] - Adjusted EBITDA loss increased from RMB 531.8 million in 2020 to RMB 879.0 million in 2021[7] - The loss attributable to equity holders of the company increased from RMB 12,158.2 million in 2020 to RMB 17,140.1 million in 2021[5] - The company reported an adjusted EBITDA loss of RMB 878.97 million for 2021, compared to a loss of RMB 531.85 million in 2020[26] - Operating loss widened to RMB 3,729.73 million in 2021 from RMB 1,811.78 million in 2020[26] - Total annual loss increased to RMB 17,177.05 million in 2021 from RMB 12,158.35 million in 2020[26] Assets and Liabilities - Total assets as of 2021 were RMB 36,944.3 million, while total liabilities were RMB 4,957.2 million[6] - The company's cash and bank deposits at the end of 2021 amounted to RMB 13.5% of total assets, down from 14.6% in 2020[8] - The company reported a total equity of RMB 31,987.1 million as of 2021[6] - The company's asset-liability ratio stood at -85.4% as of December 31, 2021, reflecting a net cash position, which is a positive indicator of financial health[53] Market and Business Segments - In 2021, SenseTime's total revenue increased by 36.4% year-over-year to RMB 4.7 billion, up from RMB 3.45 billion in 2020, with a gross margin of 69.7%[9] - The smart business segment generated revenue of RMB 1.96 billion in 2021, reflecting a year-over-year growth of 31.8%[10] - Smart business revenue rose by 31.8% from RMB 1,485.0 million in 2020 to RMB 1,957.9 million in 2021, with the customer base expanding from 848 to 922[28] - Smart city revenue surged by 56.5% from RMB 1,368.9 million in 2020 to RMB 2,142.8 million in 2021, attributed to increased market penetration and expanded city coverage[29] - The Smart Living segment achieved revenue of RMB 420 million in 2021, serving consumer-facing enterprises such as mobile manufacturers and healthcare institutions[12] Research and Development - Research and development expenses reached RMB 3.06 billion, accounting for 65.1% of total revenue, while management expenses decreased from 29.6% in 2020 to 25.1% in 2021[9] - Research and development expenses grew by 47.3% from RMB 2,453.9 million in 2020 to RMB 3,614.1 million in 2021, primarily due to increased employee compensation[33] - The company aims to leverage AI technology across four major revenue sources: smart business, smart cities, smart living, and intelligent vehicles, maintaining industry leadership in all segments[10] Technology and Innovation - The number of commercial AI models produced through SenseCore exceeded 34,000 by the end of 2021, a 152% increase from 13,000 at the end of 2020[10] - SenseTime's AI computing power reached 1.17 exaflops with 23 operational supercomputing clusters by the end of 2021, and a new AI computing center was launched in January 2022 with a peak computing power of 3.74 exaflops[10] - The newly launched "Shusheng" general vision technology system improved accuracy and data efficiency significantly, achieving a 40.2% reduction in average error rate for classification tasks compared to the best open-source model[16] - SenseTime's self-developed AI inference chip, STPU S100-0AC, has been shipped over 16,000 units by the end of 2021, demonstrating three times the video stream processing capability compared to traditional GPUs at the same cost[16] Corporate Governance - The board of directors has complied with listing rules by appointing at least three independent non-executive directors, constituting at least one-third of the board[56] - The company has established a corporate governance committee to ensure operations align with shareholder interests and compliance with listing rules[66] - The audit committee consists of three members, including Mr. Lin Yizhong, Ms. Fan YuanYuan, and Mr. Li Wei, with Mr. Lin serving as the chairman[64] - The company has established a practice of holding board meetings at least four times a year, approximately once per quarter[58] Shareholder Communication - The company emphasizes the importance of effective communication with shareholders, particularly regarding compliance with listing rules[68] - The company has established a shareholder communication policy to ensure equal and timely access to information for shareholders[91] - Shareholders can submit written inquiries to the company to bring matters to the attention of the board of directors[90] - The company’s website serves as a platform for communication with shareholders and investors, regularly updating information[89] Sustainability and ESG Initiatives - The company aims to achieve peak carbon emissions by 2025 and operational carbon neutrality by 2030, with a long-term goal of net-zero emissions by 2050[17] - The company has established an ESG governance structure to manage environmental, social, and governance matters, aiming for sustainable development[170] - The ESG report is the company's first, highlighting its commitment to responsible AI leadership and sustainable practices[170] - The company is committed to promoting social responsibility and community engagement through charitable activities and environmental protection initiatives[174] Strategic Partnerships and Acquisitions - The company is focused on enhancing its market position through strategic partnerships and potential acquisitions in the technology sector[141] - A strategic acquisition of a smaller tech firm was announced, expected to enhance the company's capabilities in computer vision technology[121] - The company is exploring strategic acquisitions to bolster its technology portfolio, with a budget of 500 million allocated for potential deals[130] Risk Management - The company has implemented a risk management and internal control system to oversee risks undertaken by the group[65] - The company has a dedicated compliance risk management framework to effectively identify and manage compliance risks, ensuring operations align with applicable laws and regulations[79] - The company has established a compliance monitoring department to investigate serious violations and strengthen fraud risk prevention mechanisms[181] Product Quality and Customer Satisfaction - The company has established a comprehensive quality management system, achieving certifications such as ISO9001 and CMMI Level 3, ensuring compliance with various operational standards[191] - The company has achieved ASPICE Level 2 and ASIL-B certification in the smart automotive sector, enhancing its product safety standards[191] - The company aims to improve customer satisfaction and product quality through diversified communication channels, including surveys and direct feedback[191]