SenseTime Revenue Falls, Cites Pandemic (H1 2022)

*** ***'* ******* ** ****, *********, was *** ** *** *******'* ****** COVID **** ******, **** ********* ******* its ******* **** ************ *** ********** segments.

**** ** *** ****** *** ************ firm ** ****** **** *****'* ********* with*********,*****, **********'* ******** ***** ********.

***** ********** *** ***** ** **** of **** ** "***********" ********* ****** it ** "*********" ** *** **-******* model.

** **** ******, **** ******** *********'* latest **********.

Revenues ****, ****** *****

** * ************ ***** ******** *** a ******* **** *** ***** ******* but ***** ******—*** ****'******** **** **% *** ** ****—*********'* ******* *** *** ***** *** months ** **** **** *** **** 14.3% ** ~$****, ********* ** ********** *******:

*********, ************ **** **** ** ******** **** and *** ***** ****** * ******, also *** *** ** **** ****** expand ** ~$****. *********'* ***** ******* decreased **.*% **** *** ***** ****** margin **** ** **% **** **%.

Smart **** ******* ********

*** **** *** ****** ** *********'* Smart **** ***** (******* ******* **** PRC ****** *** ***** ***********) ********** by **.*% ** ~$*** *** ** authorities' "******* ********** ** ******* ***** City ********** ** ********** *******-******** *******":

********* ****** **** ***** **** (*** last ***** ** **) "******* ********** have ***** ** ******* *******," ******* specifying.

Enterprise ******* **** ****** *******

*********'* **********/*** *******, ***** ********, **** declined ******** **** *********, ******* ** 12.2% ** ~$*** ***** ********* **** blamed ** "********* ******* ** ********" due ** "*** *****-** ******** *** related ****-**** **********":

********* **** *** ****** ** ********** customers **** **% ** *** ******** revenue *** ******** *** ** *% (all ******* ****-**-****). ********* **** *** Smart ******** ****** ***** ** *****, publicly ****** ************ *** ******** ******** like ** ****** *********** *** ***** door-locks **** ** "*******, *********, *****, TCL, ***."

Impact ** ******* ******* *****

*** ******** ** *** ***** **** and ***** ******** ******** ****** *********'* overall ******* ***** ***** *** *** largest ******* ******* *** ********* ** far, ****** ** **% ** *********'* sales:

**** ***** **** *** ** *** pandemic, *********'* ********** ******** ******** ***** City ***** *** *** ***** **** since ** ***** ** ***.

Increases ** ******** & **** *****

*********'* ******* **** ******** ** ****** increases ** *** ******* ********: ***** Life, *** ********-****** ****** ***** ******** services **** **** ************** *** ******'* smartphones *** ** ********** ***********, *** Smart ****, ***** ****** *********** ********* (self-driving ****, ** ******* **********, ***). Smart **** ******** ********* ****** ***% to ~$*** ***** ***** **** *** up **% ** ~**.**.

Comparison ** ***** *** ************ *****

********* *** *****'* ******** ****************** ** **** ******** **** ***** managed ** **** ******* *** ** by *.*% *** *.**% ************.*******'*** ***** ******* ********* ******* ** 13.07%, ******* ** *********'* **.*% ****:

** ******* ***** **** **** ******** to *** ******** *** ******, ********* and ******* **** **** ***** ******** by *** ******** **** ***** ************* like ********* (*** ** * ****** extent *****). ********* **** ** **** 19% ** *** ******** ********, ***** than ********* (**%) *** **** ***** than ***** (**%), **** *********'* ******** sales ******* *.*% ****-**-****.

SenseTime: ******** ********, "*********" ** **

********* **** **** "*******, *** ******** was ******** ** *** ******** ** some ******* **** ***** ** ***, but *** ********* ******* ******** ***** entering ****". ********* **** ** ** "confident" ** *** ** *******-*****, ******* that "** **** ** ********** ** the **** ** *****" ***** ** has "********* ** ******** *** ********-******* market ********".

Stock ** **%

***** ********* ******** *** ** ****** on ****** **, *** ***** ** up ***** **%:

**** ******** ******** ******** *********, ****** calculating **** *********'* ******** ***** (************ for ***** ****) **** ******* ** no **** ****** ***** ********* **** place.

Outlook ********

*********'* ********** ** *** *** ******** market ******* ** ** **** ***** if *** ******* *********** ******* *********. However, ** ***** *** ** ******* serious *********, *********'* ******** ****** *******. Long-term, *** *******'* ******** ***** (***** has ****** ***** *******) ********* *********** manufacturers **** ********* *** ***** ************* ** ********* **.