SenseTime reports 617.3 million yuan profit in first half of 2026
SenseTime, a Chinese artificial intelligence pioneer, reported its first net profit under International Financial Reporting Standards since 2021, reaching 617.3 million yuan ($92 million) for the first half of 2026. CEO Xu Li stated the firm achieved this by pivoting toward AI productivity tools while competitors like MiniMax and Zhipu AI remain loss-making.
SenseTime reported a net profit of 617.3 million yuan, equivalent to $92 million, for the first half of 2026. This financial result marks the company's first ever net profit under International Financial Reporting Standards since its listing in Hong Kong in 2021. Revenue increased by 23.4 percent year on year to 2.91 billion yuan. Executives, including CEO Xu Li and CFO Wang Zheng, attributed the success to a strategic shift away from chasing large model sizes toward developing AI tools for enterprise tasks and solo entrepreneurs. Xu Li explained that the firm's core capabilities, which span models, a token factory, and an agent-harness system, form an independent commercial closed loop. In contrast to SenseTime's performance, peers MiniMax and Zhipu AI reported triple-digit revenue growth but recorded net losses of $358 million and 2.07 billion yuan, respectively. CFO Wang added that among pure-play AI companies, SenseTime is one of the very few whose business trend is moving toward profitability.
