Core Insights - SenseTime's "1+X" structural adjustment has led to significant progress in its "X" business, with six ecosystem companies nearing completion of approximately 1.8 billion yuan in financing, and the total equity value of these companies reaching around 10 billion yuan [2][4] Financing Progress - Six ecosystem companies have secured or are close to securing a total of 1.8 billion yuan in financing, with SenseTime's equity value in these companies approaching 10 billion yuan [2] - Three specific ecosystem companies have publicly disclosed their financing: 1. Sunrise, an AI + cloud chip company, completed financing with investors including SANY Group and Fourth Paradigm [2][3] 2. SenseTime Medical (AI + healthcare) completed its first round of financing led by Yingfeng Holdings and is pursuing a larger round [2][3] 3. SenseTime Retail (AI + retail) completed its A round financing led by GSR Ventures [2][3] Strategic Focus - Following the "1+X" adjustment, SenseTime is focusing more on generative AI, allowing ecosystem companies to concentrate on their specific AI applications while sharing the group's infrastructure and model results [4] - The company is also making strides in the embodied intelligence sector, with investments in companies like Galaxy General and Zhongqing Robotics, which have recently secured significant financing [4] Market Position and Valuation - As of July 23, SenseTime's market capitalization was 59.21 billion HKD, which, while lower than its peak valuation, has been on an upward trend over the past year [5] - The restructuring has created a "R&D-incubation-capitalization" closed loop, with several ecosystem companies having the potential for independent listings, which could enhance SenseTime's value as an AI ecosystem platform [5] Future Outlook - The upcoming WAIC World Artificial Intelligence Conference will see SenseTime launch its "embodied intelligence platform," indicating ongoing innovation and market engagement [4] - The recent release of NVIDIA's H20 GPU is expected to benefit AI companies like SenseTime by providing more accessible computing power, potentially leading to increased AI application innovations [5]
独家 | 商汤“1+X”调整进展：6家生态企业融资约18亿元，持有股权价值约百亿