SenseTime is thriving with growing demand for its facial recognition software, especially as local governments in China adopt its technology to battle the coronavirus.The Hong Kong-based startup’s revenue surged 147% to 5 billion yuan ($720 million) in 2019 and its customer base increased by about 500 to 1,200 clients, according to co-founder Xu Bing.
CCP China uses HK startup! @manch should be proud.
The company – whose backers include SoftBank Group Corp., Temasek Holdings Pte and Alibaba Group Holding Ltd. – is leaning toward a dual listing in Hong Kong and China, the people added.
Three well known backers.
The cameras provided by SenseTime detect whether the passengers are wearing masks, their temperature, and even their identities with their faces covered.
HKers are no joke, man. Covered face also can identify who you are.
Is Apple facial recognition as advanced? Probably not, can’t unlock iPhone when I am wearing a mask.
It’s an example of how the ruling Communist Party, once wary of private entrepreneurs, is now supporting technology companies that have come under attack from the Trump administration, including SenseTime, Huawei Technologies Co., Tencent Holdings Ltd. and ByteDance Ltd., parent of TikTok. The country has pledged to spend $1.4 trillion to develop its own tech industry and overtake the U.S. in key sectors.
OMG. CCP now trusts private entrepreneurs because of Trump. @manch may have to change his view of Xi once again.
Alibaba’s long-standing dominance in China’s e-commerce sphere is under steady erosion from JD.com Inc. and Pinduoduo Inc., while in social retail channels Tencent Holdings Ltd. and TikTok-owner ByteDance Ltd. are vying for merchants and buyers like never before after Covid-19 spurred online shopping.
Hmm…
“Alibaba is fighting two key battles at the same time: one in core commerce online, and the other in local services offline,” said Shawn Yang, a Shenzhen-based analyst with Blue Lotus Capital. “This is a combative company, and investors will want to see achievements in at least one of the two fronts.”
Tencent-backed Kuaishou and ByteDance’s Douyin typically direct traffic to Alibaba platforms, they are now seeking to handle the transactions themselves.
Not good.
The State Department on Tuesday asked American colleges to divest from Chinese holdings in their endowments and Congress is moving closer to passing legislation that could effectively bar Chinese firms from trading on U.S. bourses.
BABA is beginning to break out like its western cohorts, and I am continuing to load up on dips, just waiting for its inevitable rally to the stratosphere.
The title doesn’t give justice to his article. He explains the issues well and provide some thoughts on what could be the future.
Chinese companies are faced with an impossible choice between complying with the U.S. government’s securities regulations and its home country’s rules regarding state’s rights to secret financial information.
The choice is obvious. Which nations want their financial secrets to be known by foreign nations - is like handing the keys to your safes to them. Actually, the phrasing is not exactly right, is not the companies, is their auditing firms who can’t divulge secret financial info to foreign governments.
American companies looking to cash in on China’s market may one day list their shares in Shanghai or Shenzhen.
“We may see multinationals list certain subsidiaries on mainland China exchanges, (especially) companies with a strong nexus of operations in China, or with strong brand recognition in China. We’re probably not close to seeing it just yet, but I think it is certainly plausible what we may see it one day.”
Shares ended the day up 3%, and pressed into the $265 resistance area. Just above, near $269, is the 161.8% extension. Bulls will look to push the stock through this area, technically putting the two-times range extension in play near $292, followed by a potential move to $300.
On the downside, however, a break of uptrend support (blue line) would be a concern in the short-term. Doing so will put the 50-day moving average in play.
Ideal time to buy China stocks in China stock exchanges. Push and pull factors that make IPO successful.
Push factor: Trump induced anti- China sentiment
Pull factors: Beijing is trying to relax its controls on capital markets and prevent tech firms from going overseas.
Previously, companies often had to wait months or even years for meetings with top regulators before they could hope to list on ChiNext. Now, those regulators have delegated much of that responsibility to the Shenzhen Stock Exchange, which significantly reduces the wait and gives issuers and investors greater control over the pricing and timing of IPOs.
The stocks that began trading Monday will continue to trade without any limit to how much their prices can fluctuate through the rest of the week. Existing stocks, meanwhile, can now trade on ChiNext within a band of 20% in either direction, double what was allowed previously.
Chinese also paying mega salaries for attracting the best. long term damage of zero interest rates as they no longer fear of curreny crises as global liquidity is flooding.
[quote]
As part of its efforts to attract talented staff and achieve technological self-sufficiency, senior Huawei executives regularly broadcast that they want to recruit “young geniuses” from around the world, actively publicizing that new hires with doctorates can receive salary packages this year as high as 2 million yuan ($281,000), more than Google or Apple offer.
“We can find mathematicians in Russia, scientists from Europe… if we can’t from the U.S.,” Huawei’s founder and chief executive Ren Zhengfei said in a September news conference at the company’s headquarters in Shenzhen.[/quote]
Taking a leaf from startups of SV. Mark Zuckerberg took the SWE talent war to the next level - spiraling wages of SWE result in double digit rise in residential property in SV from 2012 till 2018.
Apple doesn’t pay much. Is it higher than FB?
Obviously. Dragging others down if can’t compete don’t make everybody improve.
Its only one or two models of Huawei that will be impacted. short term.(does every one need high end phone when stay at home?) I am sure any losses willl be recovered by extracting higher price from Apple. The rest of the world keep quiet untill after election than they will show there cards next year by giving few months to new government.
Your ignoring the 5 million laptops that are delayed and will likely be higher priced for schools and consumers here.
I often feel like you are from some alternative universe. That universe has Russian secret fabs, China controlling reserve currency and US depending on India.
those are not standardized laptops for school districts and they unlikely to reach 5 million.
same year and model laptops make service a warranty cheaper. every student need identical laptop with same software installed.
There are tons of Huawei phones on UK/US Amazon site. why would some one need expensive phone when sittting at home?
Russia is only country in world whose Aerospace Industry is not depended on European Engineering to fight wars. and its indirect representative of former colonlal powers of French/Belgium/German/Portguese for things they dont want to touch directly due there past in Latin America/ Africa/Middleast . thats why Chinese like to do Business with Russia even at higher cost. It expands China horizon and give them understanding of Israel as they came from former Russian empires. This historical context. .
Being listed in US stock exchanges can do better business in China 
