Financial Data and Key Metrics Changes - Total revenue for SenseTime in 2022 was RMB 3.8 billion, a 19% decrease compared to the previous year [6] - Gross profit was RMB 2.5 billion, with a gross profit margin of 66.7% [6] - R&D investment increased by 24% year-on-year to RMB 3.8 billion, while net losses narrowed by 64% to RMB 6.1 billion [6] - Adjusted net loss was RMB 4.7 billion [6][44] Business Line Data and Key Metrics Changes - Smart Life segment revenue increased by 30% year-on-year to RMB 960 million, contributing 25% to total revenue [27][29] - Smart Auto segment revenue rose by 59% year-on-year to RMB 290 million, with its contribution increasing from 4% to 8% [27][35] - Smart Business segment revenue declined by 25% year-on-year to RMB 1.5 billion, while Smart City revenue decreased by 49% to RMB 1.1 billion [28][40] Market Data and Key Metrics Changes - Overseas business revenue grew by 16%, increasing its share of total revenue from 12% to 17% [44] - The company served 717 clients in the Smart Business segment, a 22% decline year-on-year [39] Company Strategy and Development Direction - The company is focusing on large model development and has undergone a strategic transformation to align its business structure [26] - SenseTime aims to enhance its AI infrastructure and expand its capabilities in supercomputing and large multimodal models [53] - The company is committed to promoting AI technology accessibility and ethical considerations in its development goals [54] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of Smart City and Smart Business segments as macroeconomic conditions stabilize [77] - The company anticipates that the demand for AI infrastructure will continue to grow, particularly in the context of digital transformation [78] - Long-term investments in Smart Life and Smart Auto are expected to yield significant returns, with these segments projected to account for a larger share of revenue [46][81] Other Important Information - SenseTime has invested over RMB 12.8 billion in R&D since its inception, with R&D personnel accounting for 68% of total employees [15] - The company has developed the world's largest CV foundation model with 32 billion parameters, enhancing its capabilities in various applications [12] Q&A Session Summary Question: What is your view on the industry trend now that ChatGPT is generating such heat? - Management believes that cross-modal large models are the future of AI development, as they can process diverse data types and meet increasing industry demands [61][62] Question: How do you expect the situation to improve in 2023 for Smart City and Smart Business segments? - Management expects these segments to recover as the macroeconomic situation stabilizes, with a focus on high-quality opportunities and faster payment cycles [77][78] Question: What are your plans for AIDC computing power scale this year? - The company has proactively procured GPUs and adapted to domestically produced chips, ensuring sufficient computing power for large model training [71][73]
商汤-W(00020) - 2022 H2 - 业绩电话会