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Exclusive: China’s SenseTime is expected to $750 million by 2019 revenue, despite a U.S. ban – sources

BEIJING (Reuters) – a Chinese, an artificial intelligence (AI) start-up and SenseTime, that Washington has put in a trading black-listed, in October, expects her to 2019, revenue is to increase by more than 200% year-over-year to roughly $750 million, two sources familiar with the matter said.

FILE PHOTO: Visitors walk past the stand of the artificial intelligence and facial recognition technology, the company Sensetime to the Security of China in 2018, with an exhibition of public security in Beijing, China, October 23, 2018. REUTERS/Thomas Peter/File Photo

All of this suggests a strong demand for the SenseTime and the technology that is being used by the smartphone-makers Xiaomi and Oppo China Mobile, Alibaba Group, in spite of the ban, in October the purchase of certain components from AMERICAN companies, without the prior approval of the central government.

However, the SenseTime s, 2019 and growth rate, the revenue forecast is substantially lower than the annual growth rate of revenue between 2015 and 2017, said last year, it was up to 400% in each of those years.

SenseTime is created by 2019, the prediction of the investor in brief, according to the sources, who declined to be named as the information isn’t public.

It was one of the eight Chinese technology companies and placed on the US entity list, in October, in the midst of the ongoing trade tensions. In the United States, according to the companies, have played a role in human rights abuses against the Muslim minority in China.

SenseTime said at the time that it was firmly opposed to the united states. it’s a ban and it would continue to work with relevant authorities to resolve the situation.

“We don’t comment on speculation,” a SenseTime spokeswoman said.

THE AI CHIPS

Hong Kong-head office SenseTime, which provides technology-based applications, including face recognition, video analysis, and autonomous driving, he said, is to have a value of more than $7.5 billion.

SenseTime has not disclosed how the U.S. ban can have an impact on the supply chain, however, the contingency plans will include the development of the AI chip in his own, separate source told Reuters.

The five-year-old start-up, which counts Qualcomm Ventures, a unit of the US semiconductor giant, Qualcomm, has as one of its strategic investors. Other existing investors include SoftBank’s Vision Fund, and HOPU Investment Management Company, Silver Lake ners and Alibaba.

The plan of the SenseTime and the Chinese arch-rival Megvii, who is also on the black list of the united states, and a list of Hong Kong have had to be postponed until next year, IFR reported on Tuesday.

The Beijing-based Megvii, also known as ” Face++, it said in October that it is contrary to the black list, and the drawing-up of contingency plans. It posted a loss of 3.35 billion yuan ($472 million) on revenue of 1.43 billion yuan in 2018 and beyond, the IPO prospectus showed.

Reporting Yingzhi Yang in Beijing and Brenda Goh in Shanghai; Editing by Tony Munroe and Alexander Smith

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