SenseTime attributes its financial progress to spinning off noncore operations and support from Beijing
In an interview with the Post on Friday, Xu said SenseTime’s 1+X strategy, where “1” refers to its core AI business and “X” encompasses other ventures, is paying off as the company’s first-half adjusted loss narrowed by 50 per cent from a year earlier.
“The speed of narrowing losses will only accelerate in the second half of this year,” Xu said, adding that if the company took more operations off the balance sheet, “we would be profitable immediately”.
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