Chinese AI firm SenseTime denies research firm Grizzly's claim it inflated its revenue
SenseTime, a major Chinese artificial intelligence company known for its facial recognition technology, has rejected claims by a research company that it has inflated its revenue
HONG KONG (AP) — SenseTime, a major Chinese artificial intelligence company, has rejected claims by a research company that it has falsely inflated its revenue.
“(SenseTime) believes the report is without merit and contains unfounded allegations and misleading conclusions and interpretations,” the company said in a notice Tuesday to Hong Kong's stock exchange, after its stocks tumbled more than 9% following the report's release by short-seller Grizzly Research LLC.
“It also shows a lack of understanding of the company’s business model and financial reporting structure, and a lack of thorough reading of the company’s public filings,” SenseTime said.
The company said it was reviewing the allegations and “considering the appropriate course of action to take to safeguard the interests of all shareholders.”
