BRIEF: Beisen’s loss narrows on reduced preferred share impact
Human capital management SaaS provider Beisen Holding Ltd.(9669.HK) announced Tuesday it expects to post a net loss of 130 million yuan ($18 million) to 196 million yuan for its fiscal year through March this year, significantly narrowing from a loss of around 3.21 billion yuan the previous year.
The company attributed the narrower loss primarily to a decrease in fair value losses on its redeemable convertible preferred shares and a drop in share-based compensation expenses compared to the previous fiscal year.
Beisen said it expects to report revenue for its fiscal year through March 2025 of between 923 million yuan and 966 million yuan, up 8% to 13% year-on-year. It expects its annual recurring revenue for the year to reach 890 million yuan to 927 million yuan, up 17.7% to 22.5% from the previous year.
The company’s stock opened 0.5% lower at HK$5.89 on Tuesday and closed down 1.36% at HK$5.97 by the midday break.
By Lee Shih Ta
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