Chinese AI firm SenseTime refutes short-seller report allegations

SenseTime

28/11/2023 04:37

Nov 28 (Reuters) - Chinese artificial intelligence
software developer SenseTime Group  0020.HK  said on Tuesday
that a short-seller report by Grizzly Research LLC is 'without
merit' and will review the allegations against the company.
    Earlier on Tuesday, the short-seller's report alleged the AI
firm was artificially inflating revenue through revenue
fabrication schemes. 
    Shares of the company fell as much as 9.7% to trade at
HK$1.30 per dollar, hitting its lowest since last November.
    

 (Reporting by Archishma Iyer in Bengaluru; Editing by Nivedita
Bhattacharjee)
 ((Archishma.Iyer@thomsonreuters.com;))