On April 16, following the close of trading on the Hong Kong Stock Exchange, SenseTime made an announcement detailing its plan to issue 1.7 billion new Class B shares at a price of HK$1.91 per share. The anticipated total funds raised from this share placement are estimated to be approximately HK$3.247 billion, with the net proceeds amounting to roughly HK$3.23 billion. This subscription saw participation from a minimum of six institutions. The capital generated from this share issuance will be predominantly allocated to bolstering SenseTime's core operations. This includes scaling up SenseCore, SenseTime's AI infrastructure platform, with a particular focus on enhancing the capabilities of domestically-manufactured AI supercomputing clusters that utilize indigenous chips. Furthermore, the company intends to upgrade its domestically-produced AI cloud technology stack, thereby laying a solid infrastructure foundation for the forthcoming AI Token Initiative, also known as the Token Plan.