Core Viewpoint - SenseTime (00020.HK) is expected to see continued growth in its generative AI revenue due to its extensive product coverage and customized solutions for specific industries, leading to a "Buy" rating from Goldman Sachs with a target price of HK$3.53, representing an upside of 48.3% from the current price of HK$2.38 [1][2]. Group 1: Financial Projections - Goldman Sachs forecasts SenseTime's revenue to grow from RMB 3,772.1 million in 2024 to RMB 8,549.9 million by 2027 [2]. - The company's EBITDA is projected to improve from a loss of RMB 3,344.0 million in 2024 to a profit of RMB 1,118.9 million by 2027 [2]. - SenseTime's earnings per share (EPS) are expected to move from a loss of RMB 0.13 in 2024 to a loss of RMB 0.01 by 2027 [2]. Group 2: Strategic Initiatives - SenseTime is focusing on optimizing computing power and foundational models to enhance cost-effectiveness and shorten return cycles, as stated by CEO Xu Li [1][3]. - The company is integrating deeply with various application scenarios, including education, finance, tourism, and smart devices, to maximize its operational efficiency [1][3]. - SenseTime is advancing its "AI+" business ecosystem, with initiatives such as the launch of the ACE embodiment research paradigm by its robot product, Daxiao, on December 18, 2025 [3]. Group 3: Competitive Positioning - As a leading generative AI software company in China, SenseTime's self-developed AI foundational models and infrastructure provide a solid foundation for its growth [3]. - The AI industry is experiencing a structured "ecological niche differentiation," where companies are focusing on either B-end MaaS services or C-end killer applications, with SenseTime leveraging its "full-stack coverage + hardware-software synergy" to occupy a favorable ecological position [3].
获高盛3.53港元目标价，商汤布局“AI+”生态引发市场关注