Analysis of the reasons for the huge losses of Black Sesame Intelligence

Black Sesame Intelligence said that the main reason for the company's huge losses was excessive investment in research and development. From 2021 to 2023, the company's R&D investment was 595 million yuan, 764 million yuan and 1.363 billion yuan, respectively, accounting for 78.7%, 69.4% and 74.0% of total operating expenses in the same year, and 984.0%, 461.8% and 436.2% of revenue in the same year.