(於開曼群島註冊成立的有限公司)(股份代號:9669) 2024930 20249302023930 93020242023%436,581400,5339.0281,753237,01018.91286,986255,33812.4(99,040)(3,058,067)(96.8)2(34,157)(85,920)(60.2)97,041173,9903(44.2) 1.2.3. 2012201211.2202353.9113.8AI HCM SaaSCore HCMHCM SaaSHCM SaaS HCMHCMPaaSHCMAI HCMHCMHCM SaaS2016HCM SaaS2023HCM SaaS15%1Core HCM 2024AIAI PC2024AI AI2024AIAIAIHCM SaaSAIPaaSAI/BIAI20 1(IDC)IDC(HCM)SaaS2023 Sen GPTAIHCM SaaSMr. SenAIAIAIAI Family 2024PaaSCore HCMHCM SaaS 436.69.0%HCM338.814.3%HCM77.6%3.6 HCMAIHCMHCM HCM HCMHCM HCM AI FamilyPaaS20HCM SaaSAIFamilyAI100AI 202493075.0% 2025202493065.7%2.0HCM81.1%3.0 2025HCM SaaSHCM SaaS20249305,623107% 1.Core HCM2024930ARR55%2023930ARR28%,2,100 AIAI SSCAI7*24 Core HCM2025 2.AI2024930ARR21% 2025AIAI20AIAIAIAIAIAI 2024930AI50500AIAI1383%500AIAI 3.2024930ARR17%179 OKR 23,00030910%30% 4.AI2024930ARR60%1602025300 AIAIAIAIPPTAIAIAIAIAI 5.AI AI FirstAIAIAIGCAIAIAIAIGCMr. SenAI AI2025 2025 6. 2025 3,0001,000 AIAIAI HCM SaaSDEELCDP PaaS (Hogan) 2025220191% 2025ARR512%ARR23%Core HCMARR50%Core HCM5107%PaaSHCM SaaS 2025 1. HCM SaaS 2.AI AIHCMAI AgentsAIAgentsall-in-AIAI+HCM SaaS+AIAIAI 3.AI AIAIAIAI 20 4. 2024930120Core HCM2025Core HCM 20252025 93020242023 5436,581400,5338(154,828)(163,523) 88867 (95,818)(249,467) 1,2984,962(567)(1,231) 15–(2,810,841) (95,087)(3,056,577) 9 (3,953)(1,490) (99,040)(3,058,067) (99,040)(3,058,067)–– 93020242023 1937 20249302024331 1,603,2651,801,334 1,698,3261,906,390 20249302024331 1350491313,176,42613,146,247(993,891)(943,493)(11,146,975)(11,047,935) 1,035,6101,154,868 1,035,6101,154,868 7,30673834,94355,202 127,4142,564169,405210,079433,294460,93610,35422,003 620,467695,582 662,716751,522 1,698,3261,906,390 1937 1. Beisen Holding LimitedHCM 2018461961322PO Box 309, Ugland House,Grand Cayman KY1-1104, Cayman Islands 2023413 20241118 2. 2.1 202493034 2024331 2.2 2024331 2.2.1 202441 772024111202411120241116202411 21202511972026111120261118202711192027111028 3. 2024331 4. HCM 20242023930 2024930 5. 20242023930 93020242023338,787296,47697,794104,057436,581400,533 HCM 93020242023391,165349,97645,41650,557436,581400,533 93020242023 93020242023 9. 20242023930 93020242023 ––3,9531,490 3,9531,490 (a) (b) 28.25%216.5%20242023930 (c) 2024202393025%15% 2018175%2022200%20242023930 (d) 2008115%10% 20242023930 10. (a) 93020242023 (99,040)(3,058,067) 719,897,675658,809,595(0.14)(4.64) (b) 2023202493020232024930 11. 20249302024331 (a) 20249302024331 9 12. 20249302024331 7,4142,564 20249302024331 67,4142,564 0.00001(a) 202341(a)(b) 452,124,515454,069,120,635–478,754,8505 2023930 5,000,000,00050 2024415,000,000,00050 5,000,000,00050 (a)20233230.0001100.000012023413 (b)2023413 (c)202341329.708,044,000199,479,000801,000198,903,000 (d)2024930349,1962,499,0002,391,16724172349,1722,499,00027,680,578 14. 20242023930 93020242023 (a)62,235160,627(b)2,648679 64,883161,306 (a) 20197 152019201920196,693,252 202042320202020201920192020202133120206,770,8772021497,911,9192021926202112317,972,883 (i) (b) 202112316% 2023818.758,317,000 202310105.59410,000 2024184.871,417,000 20244223.94965,000 2024813.728,659,000 202420239302.60.7 15. (a)AE-2 20189202065,051,552AA8,985,728BB2,120,830B-1B-17,291,583CC6,173,503DD5,024,659E-1E-12,556,936E-2E-2E-1E (b)F 202149SVF II Cortex Subco (DE) LLCMercerInvestments (Singapore) Pte. Ltd.Bargate Investment Holdings OneLimitedFidelity China Special Situations PLC Fidelity Funds FidelityInvestments FundsSpace Trek L.P.GC HCM (BVI) LimitedGC HCM Holdings Limited SCC Growth VIHoldco E, Ltd.SCGC Capital Holding Company Limited100303016.213.50.420108517104,104,1131,231,2341,231,234663,808552,07015,356820,823410,411328,329205,206697,699410,411FF (c)F F21.9D412,000366,300122,100D100,642140,000D37,889,000 ABB-1CDE-1E-2F F (i) (ii) abcd1:1 202341320233312023930 2023419,408,3792,810,841(13,105)(12,206,115) 2023930 16. 20232024930 436.69.0%HCMHCM338.814.3%77.6%202374.0%97.86.0%22.4%202326.0% 99.020233,058.1202393086.034.260.2% 97.02023174.044.2% (i)HCM(ii)436.69.0%2023400.5HCM HCM HCMHCMHCM HCM2023930296.514.3%338.8HCMHCM20239305,30020249305,600107%2023930700.52024930783.9 Core HCMHCMCore HCMCore HCMCoreHCM2023930339.227.6%2024930432.92024930Core HCM55%272Core HCM2,100Core HCM114% 2023930104.06.0%97.8 154.82023163.55.3%149.62023145.23.0%202393036.3%34.3% HCMHCM 2023930237.0281.8202393059.2%64.5% 2023930255.3287.0202393063.7%65.7% HCM HCM2023930224.5272.6HCM202393075.7%80.4% HCM2023930231.7274.9HCM202393078.1%81.1% 202393012.59.2202393012.0%9.4% 202393023.612.1202393022.7%12.4% 192.02023232.317.3%172.62023178.43.3%202393044.5%39.5% 82.72023100.217.5%62.8202361.71.8%202393015.4%14.4% 154.82023187.017.2%134.52023136.41.4%202393034.1%30.8% 9 20239304.62.3 202393031.346.213.5 20239306.38.0 20239303.70.7 20239302,810.8 20239303,056.695.1 4.020239301.5 20239