(Yicai Global) March 10 -- Chinese smart city firm SenseTime Group has established a new digital technology unit in Shanghai.

SenseTime Digital Technology was formed with CNY3.5 billion (USD554.1 million) in registered capital, according to corporate data platform Qichacha. The subsidiary's business covers computer, electronic, industrial automation, and new energy technologies. Xu Li is its legal representative.

The parent develops products in facial and image recognition, as well as autonomous driving. It has offices in Hong Kong, Beijing, Tokyo, and Seoul.

SenseTime [HKG: 0020] closed up 5.9 percent at HKD6.6 (84 US cents) yesterday.

Editor: Emmi Laine, Xiao Yi