北森控股2024/2025年度报告

ICORPORATE INFORMATION2IIFINANCIAL HIGHLIGHTS5IIICHAIRMAN’S STATEMENT7IVMANAGEMENT DISCUSSION AND ANALYSIS11VDIRECTORS AND SENIOR MANAGEMENT42VIDIRECTORS’ REPORT48VIICORPORATE GOVERNANCE REPORT96VIIIINDEPENDENT AUDITOR’S REPORT120IXCONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS128XCONSOLIDATED STATEMENT OF FINANCIAL POSITION130XICONSOLIDATED STATEMENT OF CHANGES IN (DEFICITS)/EQUITY132XIICONSOLIDATED STATEMENT OF CASH FLOWS134XIIINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS136XIVDEFINITIONS243XVGLOSSARY OF TECHNICAL TERMS247 CORPORATE INFORMATIONBeisen Holding LimitedAnnual Report 2024/20252BOARD OF DIRECTORSExecutive DirectorsMr. Wang Zhaohui(Chairman)Mr. Ji Weiguo(Chief Executive Officer)Ms. Liu Xianna(Chief Financial Officer)Independent Non-executive DirectorsMr. Du KuiMr. Zhao HongqiangMr. Ge KeAUDIT COMMITTEEMr. Zhao Hongqiang(Chairman)Mr. Ge KeMr. Du KuiREMUNERATION COMMITTEEMr. Ge Ke(Chairman)Mr. Ji WeiguoMr. Du KuiNOMINATION COMMITTEEMr. Du Kui(Chairman)Mr. Wang Zhaohui (ceased on 19 June 2025)Ms. Liu Xianna (appointed on 19 June 2025)Mr. Ge KeJOINT COMPANY SECRETARIESMs. Liu XiannaMs. Au Wai Ching FCG (CS, CGP), HKFCG (CS, CGP)AUTHORIZED REPRESENTATIVESMs. Liu XiannaMs. Au Wai Ching FCG (CS, CGP), HKFCG (CS, CGP)REGISTERED OFFICEPO Box 309, Ugland HouseGrand Cayman KY1-1104Cayman Islands PO Box 309, Ugland HouseGrand Cayman KY1-1104Cayman Islands 20256192025619FCG (CS, CGP), HKFCG (CS, CGP)FCG (CS, CGP), HKFCG (CS, CGP) CORPORATE INFORMATIONHEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS INTHE PRC03001–03006, Level 3, Building 3No. 688 Middle Tianfu AvenueChengdu High-tech ZonePilot Free Trade Zone, Sichuan ProvincePRCRoom 710, Building 1No. 35 Shangdi East RoadHaidian District, BeijingPRCPRINCIPAL PLACE OF BUSINESS IN HONG KONG40th Floor, Dah Sing Financial CentreNo. 248 Queen’s Road EastWanchaiHong KongPRINCIPAL SHARE REGISTRARMaples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket Square, Grand Cayman KY1-1102Cayman IslandsHONG KONG BRANCH SHARE REGISTRARComputershare Hong Kong Investor Services LimitedShops 1712–171617th Floor Hopewell Centre183 Queen’s Road EastWanchaiHong KongHONG KONG LEGAL ADVISERHan Kun Law Offices LLPRooms 4301-10, 43/FGloucester Tower, The Landmark15 Queen’s Road CentralHong KongAUDITORKPMGPublic Interest Entity Auditor registered in accordance with the Accounting andFinancial Reporting Council Ordinance8th Floor, Prince’s Building10 Chater RoadCentral, Hong Kong /6883303001–0300635171024840Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket Square, Grand Cayman KY1-1102Cayman Islands183171712–171615434301-10108 Beisen Holding LimitedAnnual Report 2024/20254CORPORATE INFORMATIONCOMPLIANCE ADVISORGuotai Junan Capital Limited27/F, Low Block, Grand Millennium Plaza181 Queen’s Road CentralHong KongPRINCIPAL BANKSSichuan branch, Bank of China LimitedNo. 35, Middle Renmin Road (2 Duan)Qingyang DistrictChengdu, Sichuan ProvincePRCChaoyang branch in Beijing, Bank of China LimitedBlock B, Jiacheng BuildingNo. 18 Xiaguang Lane, Dongsanhuan North RoadChaoyang DistrictBeijingPRCSTOCK CODE9669COMPANY WEBSITEwww.beisen.com 181B9669www.beisen.com 273518 Beisen Holding LimitedAnnual Report 2024/20256FINANCIAL HIGHLIGHTSOverall Financial DataRevenue was RMB945.1 million for the year ended 31 March 2025, representing a year-on-year increase of 10.6%.Net loss was RMB147.4 million for the year ended 31 March 2025, representing a year-on-year improvement of 95.4%.Adjusted net loss (a non-IFRS measure) was RMB29.1 million for the year ended 31 March2025, representing a year-on-year improvement of 72.4%.Cloud-based HCM SolutionsRevenue generated from subscriptions to our cloud-based HCM solutions was RMB721.8million for the year ended 31 March 2025, representing a year-on-year increase of 14.2%and accounting for 76.4% of the total revenue.Professional ServicesRevenue generated from our professional services was RMB223.3 million for the yearended 31 March 2025, representing a year-on-year increase of 0.3% and accounting for23.6% of the total revenue.Research and Development ExpensesResearch and development expenses were RMB287.6 million for the year ended 31 March2025, representing a year-on-year decrease of 18.0%.Contract LiabilitiesContract liabilities was RMB621.4 million for the year ended 31 March 2025, representinga year-on-year increase of 20.4%.Rounding AdjustmentsIn this annual report, certain amounts and percentage figures have been subjectto rounding adjustments, or have been rounded to one or two decimal places. Anydiscrepancies in any tables, chats or elsewhere between total and sums of amounts listedtherein are due to rounding. 20253 3110.6%20253 3120253 3172.4%HCM20253 3114.2%2025331223.323.6%2025331287.62025331621.4 945.1147.495.4%29.1HCM721.876.4%0.3%18.0%20.4% CHAIRMAN’S STATEMENTDear shareholders,In the complex and ever-changing market environment of FY2025, Beisen Holdingremained steadfast in its commitment to “customer success” as