On a new day, it was unexpected that Shang Tang, whose IPO almost came to an end, soared by 1 times after 3 days of listing! Properly give the lucky shareholders a big New Year red envelope!
As China's first AI unicorn so far, it's really impressive. So, what is supporting its upward trend? Should we keep up with the current price?
Looking back at the prospectus, Shangtang Technology was founded in 2014, and the following year ushered in a four-year financing boom in China's AI industry. For Shangtang Technology, it has completed 12 rounds of financing since its establishment, with a total financing amount of 5.2 billion US dollars. Among them, financing of more than 2 billion US dollars was completed in 2018 alone, and many star investment institutions such as IDG, Dinghui, SoftBank, Houpu Investment, Tiger Fund, and Temasek participated.
It claims that “our SenseMars has become one of the largest metaverse enabling platforms in Asia.” Developing the metaverse business as an AI company might seem logical, but in reality, the growth difficulties of the existing business are hidden behind it.
The metaverse's aura shows anxiety that AI technology is difficult to commercialize and is in urgent need of support in new application scenarios. This is also a problem currently plaguing the entire AI industry.
According to the prospectus, Shangtang Technology's revenue for 2018, 2019, 2020 and the first half of 2021 was 1,853 billion yuan, 3,026 billion yuan, 3.446 billion yuan and 1,652 billion yuan respectively. It increased by 63.3% in 2019, but by 2020, revenue growth declined, increasing by only 13.8%...