SenseTime Reports First IFRS Net Profit in H1 2026, Revenue Up 23.4%

ChainCatcher report: SenseTime Group (0020.HK / 80020.HK) announced its unaudited interim results for the six months ended June 30, 2026. Revenue for the period amounted to approximately RMB 2.911 billion, representing a 23.4% year-over-year increase; gross profit reached approximately RMB 1.206 billion, with a gross margin of 41.4%, an improvement of 2.9 percentage points year-over-year; net profit for the period was approximately RMB 617 million, marking the first net profit under IFRS, compared to a net loss of approximately RMB 848 million in the same period last year. EBITDA was approximately RMB 1.388 billion, and the adjusted net loss narrowed by 67.3% year-over-year to approximately RMB 386 million. By business segment, generative AI revenue reached approximately RMB 2.327 billion, up 79.9% year-over-year; visual AI revenue was approximately RMB 497 million, up 13.9% year-over-year; overseas business revenue increased by 127.0% year-over-year. Recurring revenue amounted to approximately RMB 1.145 billion, up 124.4% year-over-year, accounting for 39.3% of total group revenue. The company stated that during the first half of the year, it advanced its system-level AI capabilities around “one model, one token factory, and one intelligent agent management system,” continuously iterating its SenseNova multimodal large model and transitioning its strategy from providing models and computing power to scalable delivery of trustworthy multimodal intelligent agent capabilities.