SenseTime Jueying's smart car business has developed steadily, achieving revenue of 400 million yuan

SenseTime's overall revenue performance is stable, with operating income of 3.4 billion yuan in 2023, a year-on-year decrease of 11%. The main reason is that the group has actively shrunk its smart city business. Smart cities accounted for about 30% of revenue in 2022, and have been reduced to less than 10% in 2023; gross profit was 1.5 billion yuan, with a gross profit margin of 44%; the core business generative AI revenue was 1.2 billion yuan, a year-on-year increase of 200%, accounting for 35% of the group's total revenue; "Jueying" smart car business developed steadily, achieving revenue of 400 million yuan, a year-on-year increase of 31%. In 2023, SenseTime Group has identified three new business segments: generative AI, traditional AI and smart cars; with generative AI business as the key development direction, while maintaining the advantages of traditional AI business and smart cars. The two core areas of smart driving and smart cockpit of "Jueying" smart car business have achieved sustained growth, and the gross profit of mass-produced and delivered vehicles has doubled. The smart car segment added 1.29 million vehicles in mass production and delivery throughout the year, a significant year-on-year increase of 163%. So far, the company has delivered a total of 1.95 million smart cars, covering more than 90 models. In addition, the company received more than 16 million new orders and expanded its model line by 41 new models.