US sanction forces China’s AI firm SenseTime to delay IPO
3 years, 1 month ago

US sanction forces China’s AI firm SenseTime to delay IPO

Al Jazeera  

US sanctioned the firm for its alleged role in creating facial-recognition software used to oppress Uyghur Muslims. Chinese artificial intelligence start-up SenseTime Group has postponed its $767m Hong Kong initial public offering after being placed on a US investment blacklist. Reuters first reported earlier on Monday the company’s plan to withdraw the offering and update its prospectus to include the potential impact of the US investment ban, with the aim of relaunching the IPO process. Bankers had been gauging investor interest in the IPO when news broke about the plan to add the firm to the Treasury Department’s list of so-called Chinese military-industrial complex companies, timed to fall on Human Rights Day as well as SenseTime’s expected pricing. China’s camps One source said the company was trying to move quickly to avoid the regulatory requirement to completely refile the IPO after January 9 when its financial numbers in the current prospectus would need to be updated.

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History of this topic

Chinese AI firm SenseTime denies research firm Grizzly’s claim it inflated its revenue
1 year, 1 month ago

Chinese AI firm SenseTime denies research firm Grizzly’s claim it inflated its revenue

Associated Press  

HONG KONG — SenseTime, a major Chinese artificial intelligence company, has rejected claims by a research company that it has falsely inflated its revenue. “ believes the report is without merit and contains unfounded allegations and misleading conclusions and interpretations,” the company said in a notice Tuesday to Hong Kong’s stock exchange, after its stocks tumbled nearly 10% following the …

SenseTime relaunches $767 million Hong Kong IPO after US investment ban
3 years ago

SenseTime relaunches $767 million Hong Kong IPO after US investment ban

The Hindu  

Chinese artificial intelligence start-up SenseTime Group relaunched its $767 million Hong Kong IPO on Monday, a week after pulling the listing in the wake of the company's inclusion on a U.S. investment blacklist. SenseTime said its inclusion on the U.S. blacklist did not impose any restrictions on its business operations, but added the resulting lack of U.S. investors could impede …

SenseTime delays its IPO after being hit by another US blacklist
3 years, 1 month ago

SenseTime delays its IPO after being hit by another US blacklist

CNN  

Hong Kong CNN Business — SenseTime is postponing its big stock market debut after once again getting caught up in tensions between the United States and China. China’s Foreign Ministry said the new US sanctions on SenseTime were “based on lies and disinformation.” “We urge the US to immediately revoke its wrong decision and stop its words and deeds that …

U.S. to bar investment in Chinese AI giant
3 years, 1 month ago

U.S. to bar investment in Chinese AI giant

Live Mint  

U.S. officials plan to ban American investment in Chinese artificial intelligence giant SenseTime Group Inc. and are looking to block China’s largest chip maker from buying U.S. manufacturing tools, in a broadening Biden administration effort against Chinese technology firms. SenseTime, a leading developer of facial recognition technology, on Friday will be placed on a Treasury Department blacklist of Chinese companies …

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