Chinese artificial intelligence (AI) start-up SenseTime, which Trump put on a trade blacklist in October, expects its 2019 revenue to extend by over 200% yearly to around $750 million, two sources conversant in the matter stated.
This means strong demand for SenseTime’s technology, which has been utilized by smartphone manufacturers Oppo and Xiaomi as well as China Mobile and Alibaba, despite the ban since October on it buying specific components from the U.S. companies without government approval.
However, SenseTime’s 2019 sales growth estimation is sharply lower than its annual income growth during 2015-2017, which it said in 2018 was 400% in each of those years.
SenseTime made the 2019 prediction to investors in briefings, stated the sources, who refused to be named as the information was not public.
The corporate was among eight Chinese tech corporations placed on the U.S. blacklist in October amid trade tensions. The U.S. alleges the companies have played a role in human rights abuses against Muslim minorities in China.
SenseTime said at the time that it firmly opposed the U.S. ban and would work with relevant authorities to resolve the situation.
Hong Kong-based SenseTime, which provides technology-based applications along with, facial recognition and video analyzing and autonomous driving, says it’s valued at over $7.5 billion.
SenseTime has not revealed how the U.S. ban might affect its supply chain, however, its contingency plans consist of developing AI chips by itself, a separate source said.
Plans by SenseTime’s Chinese competitor Megvii, which was also blacklisted by the U.S., to list in Hong Kong have been delayed until 2020.