Goldman Sachs: Maintains a "buy" rating for SENSETIME-W (00020) with a target price of 3.53 Hong Kong dollars.

Goldman Sachs released a research report stating that it maintains a "buy" rating for SENSETIME-W(00020) with a 12-month target price of 3.53 Hong Kong dollars. The company's revenue from generative AI is expected to reach 77% in the first half of 2025, driven mainly by private/public clouds and AI projects. Goldman Sachs predicts that by 2030, the revenue contribution of the group's generative AI will reach 91%. The report mentioned that SenseTime recently launched several generative AI products, including the AI script generation platform (Seko 2.0), the AI office assistant (Racconn 3.0), and the AI marketing agent (SenseAvatar). It emphasizes enhancing the generation of higher quality content through one-click operation and providing more cost-effective solutions based on local computing platforms. The report points out that SenseTime primarily charges users through subscription fees, with Seko 2.0 priced at 95 to 195 yuan per month; Racconn 3.0 priced at 29.9 to 1599 yuan per month. At the same time, it also provides customized solutions for enterprises based on project-based charging.