Commentary Controversial Chinese artificial intelligence company SenseTime Group enjoyed a rare successful IPO on the Hong Kong Stock Exchange in early January. Shares were up as much as 148 percent as of Jan. 4 from its Dec. 30 IPO priced at HK$3.85, minting SenseTime as one of the most successful Hong Kong IPOs in 2021. It has since dropped a bit from earlier highs. It’s significant news on a few fronts. First, Hong Kong new issuance stocks have been performing terribly for much of 2021. Eight out of ten largest Hong Kong stock listings of 2021 ended the year at a price lower than their IPO price. The only post-IPO risers among the top ten were Chinese electric vehicle companies Li Auto and Xpeng. SenseTime management wasn’t fazed. While there are still more than 11 months left in the year, the company’s stock has been off to a good start. …