Impact Analysis of Black Sesame Intelligence (02533.HK) Acquisition Event

On January 2, 2026 (UTC+8), Black Sesame Intelligence (02533.HK) officially announced the acquisition of a 60% stake in Zhuhai Ezhii Electronics for RMB 478 million, which focuses on the low-power AI chip field [2][3][4]. The core impacts of this acquisition include:

1. Business Expansion
   : Extending Black Sesame Intelligence’s automotive-grade AI chip coverage from high-end to medium and low-end segments, and enabling entry into new fields such as robotics;
2. Fundamental Background
   : Founded in 2016, Black Sesame Intelligence is an automotive-grade AI chip supplier that has previously laid out a robotics platform and collaborated with Zhongji Xuchuang [5];
3. Market Sentiment
   : Investors have divergences regarding the company’s robotics and AI chip layout; some believe the valuation is low [6][7], while others have negative comments, such as questioning its business model as concept speculation and insufficient market value management capabilities [8][9].

This acquisition reflects Black Sesame Intelligence’s expansion strategy in the AI chip field. By integrating Zhuhai Ezhii Electronics’ low-power technology, the company aims to improve its product matrix and enter new markets. However, there are still uncertainties regarding the post-acquisition integration effect, technical synergy, and market competitiveness in new fields. Financially, the company has a gross margin of -284% and is suffering severe losses [10]; whether the acquisition can improve profitability remains to be seen.

• Risks
  : Severe financial losses with a gross margin of -284% [10]; high business integration risk after acquisition; uncertainty in performance realization of new field layout; market doubts about its business model and market value management may affect investor confidence.
• Opportunities
  : The acquisition expands the company’s product coverage and market fields; if integration is smooth, it is expected to enhance the company’s competitiveness in the AI chip market; layout in new fields such as robotics may provide new impetus for future growth.

The acquisition of a 60% stake in Zhuhai Ezhii Electronics by Black Sesame Intelligence (02533.HK) is an important move for its expansion in the AI chip field. The acquisition will bring opportunities for business expansion, but at the same time, factors such as financial losses, integration risks, and divergences in market sentiment need to be noted. This event does not involve specific stock prices or trading recommendations.