Analysis of Hong Kong Hot Stock Black Sesame Intelligence (02533)

This analysis is based on Hong Kong Stock Hot List information from the East Money App and related market dynamics [0]. Black Sesame Intelligence (02533) belongs to the semiconductor sub-sector of the technology industry [2]. It has recently become a hot Hong Kong stock due to two catalysts: First, on December 8, 2025, it announced that it would provide AI imaging solutions (including HDR fusion, multi-frame noise reduction, etc.) for Li Auto’s first AI glasses Livis, which led to a 3.3% rise in its share price to HK$21.9 on the same day, with a turnover of HK$83.8947 million [1]. Second, its ESG rating was upgraded to B on December 10, which may have a positive impact on market sentiment [3]. The company has also recently entered the rail transit safety field, and appeared at the Hong Kong Auto Expo and Singapore Asia Tech Exhibition to showcase its AI chip business expansion [2]. Its 52-week price range is HK$14.5-HK$43.85 [2].

1. The collaboration with leading automaker Li Auto reflects Black Sesame Intelligence’s technical implementation capabilities in the automotive-grade AI chip field, which aligns with the current popular trend of “AI + automotive/consumer electronics” integration in the technology sector [1].
2. The upgrade of ESG rating to B (2025) may attract ESG-preferred investors and further expand market attention [3].

• Continuously expanding the application scenarios of AI chips in automotive, consumer electronics and other fields; collaborations with leading enterprises are expected to enhance brand influence and market share [1][2].

1. Profit loss risk: The net profit in the past 12 months was -HK$155 million, with a profit margin of -284.06%, still in a loss-making phase [2].
2. Valuation uncertainty: Core valuation indicators (trailing P/E ratio, forward P/E ratio, etc.) are missing, lacking clear valuation references [2].
3. Industry competition risk: The AI chip field is highly competitive with rapid technological iteration; continuous R&D investment is required to maintain competitiveness.

Black Sesame Intelligence (02533) has recently become a hot Hong Kong stock due to its collaboration with Li Auto and ESG rating upgrade. Its business expansion in the AI chip field is worth attention, but it still faces challenges such as profitability, valuation, and industry competition. Investors should make decisions based on their own risk preferences, comprehensive market data, and industry research.