According to Zhitong Finance APP, SenseTime-W (00020) rose over 4% in the morning session. As of the time of writing, it has risen by 3.97%, priced at 1.57 Hong Kong dollars, with a transaction volume of 0.462 billion Hong Kong dollars.

In terms of news, SenseTime announced that it has completed the placement of new Class B shares under general authorization. The net proceeds from the placement are approximately 2.787 billion Hong Kong dollars. The company intends to use the relevant net proceeds primarily to support the development of its core Business, including building an industry-leading AI cloud, enhancing the scale of the company's industry-leading SenseTime large device, supporting the further development of generative AI (including large model research and product development), and as general working capital for the company.

It is worth noting that at the beginning of this month, SenseTime announced that it has completed a strategic organizational restructuring. This restructuring is a repositioning of the company's strategic direction and core areas to better respond to the opportunities and challenges brought about by the era of AI 2.0. HAITONG SEC pointed out that the company's completion of the organizational strategic restructuring established a '1+X' structure, improved the company's operational efficiency, and made the overall development goals of the company more focused on generative AI, allowing the company to stand out more in the competition of the AI era. Additionally, it has expanded diverse Business fields through an ecological enterprise matrix, forming effective synergies with the company and expanding greater development space.