BEISEN HOLDING (09669) releases interim performance with a net loss attributable to shareholders of RMB 99.04 million, representing a 96.76% reduction year-on-year.

BEISEN HOLDING (09669) announced the unaudited interim results for the six months ending September 30, 2024. The group recorded revenue of 437 million yuan from customer contracts, representing a 9% year-on-year increase; shareholders' attributable loss was 99.04 million yuan, narrowing by 96.76%; and basic loss per share was 0.14 yuan. The announcement stated that the increase in revenue was primarily due to the growth in subscription revenue of the cloud-based HCM solution. The subscription fee revenue from the group's cloud-based HCM solution increased by 14.3% from 297 million yuan in the six months ending September 30, 2023 to 339 million yuan in the reporting period. The revenue increase was attributed to acquiring new customers and an increase in subscriptions from existing customers of the group's cloud-based HCM solution.