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FINWIRES

SenseTime Group Expects to Record Profit in H1; Shares Jump 12%

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SenseTime Group (HKG:0020) expects to record profit in the range of 500 million yuan to 700 million yuan for the January to June period, turning around from a loss of 1.49 billion yuan a year prior, according to a Monday Hong Kong bourse filing.

The partly state-owned publicly traded artificial intelligence company expects its half-year adjusted net loss to decline 60% to 70% on an on-year basis, marking a faster reduction in adjusted losses compared with the year-ago period, the filing said.

Shares of the company jumped 12% in recent trade.

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