SENSETIME Blasts Short-selling Report as Meritless, Reserves Rights to Take Appropriate Actions

SENSETIME vehemently denies unfounded allegations in a recent report, citing a lack of understanding of its business model and financial structure. The report's author didn't verify information or contact the company. The board is reviewing the claims to safeguard shareholder interests.

SENSETIME emphasizes its commitment to high corporate governance standards and transparent disclosure. Rigorous internal controls ensure compliance with IFRS in financial reporting.

Shares of the company crashed 9.7% to $1.3 this morning. It closed for the noon at $1.36, down 5.56%. The volume is 367 million shares, involving $500 million.