Core Viewpoint - The company anticipates revenue exceeding RMB 250 million for the six months ending June 30, 2025, representing a growth of over 38% compared to the same period in 2024, but expects a net loss not exceeding RMB 800 million during this period due to various factors [1] Financial Performance - Expected revenue for the upcoming period is over RMB 250 million, which is an increase of more than 38% year-on-year [1] - Projected net loss is capped at RMB 800 million for the same period [1] Cost Drivers - The anticipated loss is primarily attributed to: - Share-based compensation expenses of no less than RMB 200 million due to employee awards [1] - Significant expenditures related to the research and development of advanced driver assistance systems and solutions [1] - Decreased fair value gains on financial instruments issued to investors, linked to the conversion of preferred shares to common shares following the company's listing on the Hong Kong Stock Exchange [1]

Core Viewpoint - Black Sesame Technologies (02533) anticipates revenue exceeding RMB 250 million for the six months ending June 30, 2025, representing a growth of over 38% compared to the same period in 2024, but expects a net loss not exceeding RMB 800 million during this period [1] Financial Performance - The company projects a revenue of over RMB 250 million for the upcoming six-month period [1] - This revenue forecast indicates a growth of more than 38% compared to the same period in the previous year [1] - The anticipated net loss is expected to be no more than RMB 800 million [1] Cost Drivers - The projected loss is primarily attributed to: - Share-based compensation expenses of no less than RMB 200 million due to employee incentive awards [1] - Significant expenditures related to research and development in advanced driver assistance systems and solutions [1] - Decreased fair value gains on financial instruments issued to investors, linked to the conversion of preferred shares to ordinary shares following the company's listing on the Hong Kong Stock Exchange [1]

香港交易及結算所有限公司及香港聯合交易所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依賴該等內容而引致的任何損失承擔任何責任。 本 公 司 將 根 據 可 能 收 購 事 項 的 進 展 情 況，按 照 上 市 規 則 的 所 有 適 用 規 定 及 法 律 法 規 適 時 履 行 後 續 審 批 及 信 息 披 露 程 序。 Black Sesame International Holding Limited 黑芝麻智能國際控股有限公司* （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2533） 自願性公告 有關可能收購事項之更新 本公告乃由黑芝麻智能國際控股有限公司（「本公司」，連 同 其 附 屬 公 司，統 稱 「本集團」）自 願 作 出。 茲提述本公司日期為2025年6月18日 的 公 告，內 容 有 關 可 能 收 購 事 項（「先前公 告」）。本 公 司 謹 此 向 其 證 券 持 有 人 及 有 意 投 資 者 提 供 有 關 ...

香港交易及結算所有限公司及香港聯合交易所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依賴該等內容而引致的任何損失承擔任何責任。 Black Sesame International Holding Limited 黑芝麻智能國際控股有限公司* （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2533） 盈利警告 本公告乃由黑芝麻智能國際控股有限公司（「本公司」，連 同 其 附 屬 公 司，統 稱 「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2) (a)條及香港法例第571章證券及期貨條例第XIVA部項下之內幕消息條文（定 義 見 上 市 規 則）而 作 出。 本公司董事（「董 事」）會（「董事會」）謹此通知本公司股東（「股 東」）及 潛 在 投 資 者， 根據董事會對本集團截至2025年6月30日止六個月（「該期間」）未經審計綜合管 理 帳 目 及 董 事 會 目 前 可 得 其 他 資 料 的 初 步 評 ...

Core Insights - The Chinese intelligent driving industry is at a pivotal moment, balancing opportunities and challenges, with a focus on creating a sustainable industrial ecosystem [1][2] - The consensus among industry leaders is that "high safety + low cost" will be the long-term trend and goal for the intelligent driving sector [4][8] Industry Trends - The penetration rate of Level 2 and above advanced driver-assistance systems has exceeded 50%, with high-level intelligent driving features being made available in the mainstream market priced between 100,000 to 200,000 yuan [1] - The industry is experiencing rapid technological evolution, with key developments including the rise of end-to-end solutions and the emergence of visual language action (VLA) models [5] Challenges - The industry faces significant challenges, including safety and liability issues, insufficient technological maturity and reliability, and a crisis of consumer trust due to over-promising [2][7] - The need for a user-centric approach is emphasized, focusing on addressing market pain points and typical high-frequency safety scenarios rather than just extreme cases [6] Technological Developments - Recent advancements include the introduction of solid-state LiDAR technology, which is seen as the ultimate form of LiDAR due to its lower cost and higher reliability [8] - The intelligent driving sector is moving towards a model that integrates advanced safety features, with companies like NiuMai Technology developing brain-like neural network architectures to enhance safety [9] Regulatory Environment - Recent regulatory measures aim to strengthen product safety through comprehensive oversight, including recalls and performance standards for intelligent connected vehicles [10] - The trend towards stricter regulations is expected to promote healthy industry development and enhance safety standards [10] Market Dynamics - The intelligent driving sector is witnessing a resurgence in capital market interest, with several leading companies going public, indicating an acceleration in industry growth [11] - Mergers and acquisitions are becoming more common, particularly targeting non-compliant smaller firms, which is viewed positively for enhancing market competitiveness [11]

Core Viewpoint - Black Sesame Intelligence (02533) has entered the rail transportation active safety sector by launching an AI obstacle detection and warning system for high-speed transport networks, which has gained recognition from leading domestic rail transportation equipment manufacturers, with expected order amounts reaching tens of millions of dollars [1]. Group 1: Company Developments - Black Sesame Intelligence's stock rose over 11%, reaching HKD 19.15 with a trading volume of HKD 669 million [1]. - The newly launched AI system features breakthrough long-distance detection capabilities and automotive-grade reliability [1]. - The company has formed a strategic partnership with AEye, a high-performance lidar company, to integrate its reliable onboard computing platform and perception algorithms with AEye's leading long-distance perception technology [1]. Group 2: Market Impact - The collaboration aims to create a plug-and-play full-stack solution to accelerate the application of the AI obstacle detection and warning system in rail transportation scenarios [1].

Core Viewpoint - Black Sesame Intelligence (02533) has entered the rail transportation active safety sector by launching an AI obstacle detection and warning system for high-speed transport networks, which has gained recognition from leading domestic rail transportation equipment manufacturers, with expected order amounts reaching tens of millions of dollars [1] Group 1: Company Developments - Black Sesame Intelligence's stock rose over 11%, reaching HKD 19.15 with a trading volume of HKD 669 million [1] - The newly launched AI system features breakthrough long-distance detection capabilities and automotive-grade reliability [1] - The company has formed a strategic partnership with AEye, a high-performance lidar company, to integrate its reliable onboard computing platform and perception algorithms with AEye's long-range perception technology [1] Group 2: Market Impact - The AI obstacle detection and warning system is expected to accelerate its application in rail transportation scenarios [1] - The collaboration aims to create a plug-and-play full-stack solution for the rail transportation industry [1]

Group 1 - The core viewpoint of the article highlights the significant stock price increase of Hezhima Intelligent, which rose by 10.47% to reach HKD 19.41 per share, with a trading volume of HKD 4.33 billion [1] - Hezhima Intelligent focuses on the research and development of automotive-grade intelligent vehicle computing chips and solutions, covering key technologies such as advanced driver assistance systems and intelligent cockpits [1] - The company is set to be listed on the Hong Kong Stock Exchange in 2024, offering self-developed SoC and full-stack advanced driving capabilities to meet the diverse needs of smart vehicles [1] Group 2 - As of the 2024 annual report, Hezhima Intelligent reported total revenue of HKD 474 million and a net profit of HKD 313 million [2] - Hezhima Intelligent is scheduled to disclose its mid-year report for the fiscal year 2025 on August 29 [3]

Group 1 - Black Sesame Intelligence experienced a significant increase in stock price, rising over 9% to HKD 19.21, with a trading volume exceeding HKD 500 million [1] - The company announced a board meeting scheduled for August 29, 2025, to review and approve the interim results for the six months ending June 30, 2025, and to consider the distribution of an interim dividend [3] - Northern Light Partners IV L.P. reduced its stake in Black Sesame Intelligence by selling 383,800 shares at a price of HKD 18.0007 per share, totaling approximately HKD 6.9087 million, leaving them with about 37.8687 million shares, representing a 5.97% ownership [3]

Group 1 - Northern Light Partners IV L.P. reduced its stake in Hezhima Intelligent (02533) by 383,800 shares at a price of HKD 18.0007 per share, totaling approximately HKD 6.9087 million [1] - After the transaction, the latest shareholding number is approximately 37,868,700 shares, representing a holding percentage of 5.97% [1] - The transaction also involves other related parties, including Northern Light Venture Capital IV, Ltd., The D&H Family Trust dated December 7, 2001, and Deng Feng [1]