MSCI's "Hong Kong Stock AI First Stock" receives a valuation reappraisal, SenseTime's spatial intelligence open-source model draws attention

On February 12, Hong Kong stocks’ AI leader SenseTime Technology performed strongly. At the close, SenseTime-W (00020.HK) was trading at HKD 2.68 per share, up 6.77%; during the trading day, it reached a high of HKD 2.74, with a maximum increase of 9.16%.

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In terms of news, SenseTime recently successfully included in the MSCI China Index, known as the “global capital allocation indicator.” Meanwhile, the company released its spatial intelligence model, SenseNova-SI-1.3.

International capital focuses on Chinese AI, SenseTime is expected to attract passive funds

Recently, the internationally renowned index provider MSCI announced its latest quarterly review results. SenseTime Group Class B shares were officially included in its flagship MSCI China Index, with the adjustment taking effect after the close on February 27. Inclusion in the MSCI China Index requires strict screening. Companies must have access to international investors, a structure compliant with international standards, and a clear voting rights structure. Additionally, the index pays special attention to the company’s competitive advantages in its industry and long-term value. As the “Hong Kong AI first stock” included in the MSCI China Index, SenseTime may attract more long-term value investors and is likely to receive increased international passive fund interest. According to MSCI official data, as of July 2025, over $17 trillion in assets are benchmarked to MSCI indices, with passive funds exceeding $2 trillion. This means each index adjustment could trigger significant reallocation of funds.

Public information shows that companies included in MSCI indices before SenseTime mainly come from consumer electronics and internet industry leaders, such as Apple, Microsoft, Nvidia overseas, and Tencent, Xiaomi, Meituan, CATL in China. Being included in this index system not only signifies that SenseTime’s technological strength, business model positioning, and governance have been validated by mainstream international capital markets but also provides a foothold for Chinese AI companies in the international capital arena.

Technical leadership confirmed again, open-source models top authoritative rankings

Beyond capital benefits, SenseTime’s breakthroughs in cutting-edge technology also boost market confidence. On February 6, SenseTime officially open-sourced its spatial intelligence model, SenseNova-SI-1.3. According to its release data, the model ranked first in the comprehensive EASI-8 list, which covers eight authoritative evaluations.

Notably, SenseTime’s research team overcame the challenge of data scarcity in 3D worlds by innovative perspective-shifting data construction and verified that the field of spatial intelligence research requires new learning paradigms. Under the company’s “big device - big model - application” integrated strategy, the full-stack closed-loop deployment is driving the company from technological leadership toward commercial realization. SenseTime’s financial report shows that by the first half of 2025, revenue from generative AI has significantly increased to 77%. The “big device—big model—application” strategy is accelerating toward commercial outcomes. Goldman Sachs further predicts in its research report that this proportion will rise to 91% by 2030.

As the AI industry evolves rapidly, market scrutiny of AI companies has become more cautious and pragmatic. SenseTime’s recent technological breakthroughs and international capital recognition partly address market concerns about “when will it make money” and “is the technology strong enough.” As international capital markets pay increasing attention, and industry-specific challenges are gradually overcome, discussions on the long-term value of high-quality AI assets like SenseTime are likely to intensify.