Goldman Sachs: Raises the target price of SENSETIME-W to HKD 3.53, has received multiple generative AI orders

Goldman Sachs released a research report stating that SenseTime-W's latest project news shows that it has obtained new generative AI project orders from enterprises (ToB) and government (ToG) clients in fields such as education, healthcare, media, finance, and transportation. The bank expects future projects to accelerate growth, mainly benefiting from increased cloud capital expenditure in mainland China and favorable policies such as the "AI+" action plan announced in August. The bank raised its profit forecasts for 2028 to 2030 by 1%, 1%, and 2%; maintaining a "Buy" rating, with the target price increased from HKD 3.09 to HKD 3.53. The bank believes that SenseTime can provide a full suite of solutions covering computing power, large-scale AI infrastructure, AI foundational models, and generative AI applications to meet different customer needs; and expects the company to continue focusing on large projects in the coming years to ensure higher efficiency and increase revenue