On March 8, Shanghai SenseTime Digital Technology Co., Ltd. was established with a registered capital of 3.5 billion RMB. Shareholder information shows that the company is wholly owned by Shanghai SenseTime Intelligent Technology Co., LTD, showing SenseTime’s determination to enter the digital technology market in the future.
The business scope includes the development of digital technology, intelligent technology, industrial automation technology, and technical services in the field of new energy technology, to name a few.
When SenseTime was listed on the Hong Kong stock market, the company received a total of 36,000 valid applications, with a total of 778 million shares offered in Hong Kong, equivalent to more than 5 times the oversubscription rate of the Hong Kong offering. This showed investors’ bullish attitude towards the development of SenseTime.
The foundation of a digital technology company such as SenseTime, positioning itself as a pure intelligent technology company, shows the opportunity tech companies are seeing in new development directions and profit areas by leveraging on China’s digital economy boom. Meanwhile, whether digital technology companies will be listed independently in the future is also the focus of market attention.
