Oct-Nov 2023 bookings were relatively muted, but December saw a good rebound, partly helped by low base. Overall demand continues to recover from 2Q23 trough. Company indicated that its FY24 ARR growth target of 17-18% is still on track, but 4Q23 bookings are back-end loaded, so revenue recognition will be slightly impacted, tracking at ~15% YoY growth. Beisen's core HR module sustained fast 30% + growth, while recruitment and assessment module demand saw only mild recovery. For FY24 (ending Mar 24), management expect a ~Rmb150mn non-IFRS net loss and ~Rmb100mn cash outflow.
For FY25, Beisen wishes to grow revenue by 20%, better than FY24. This trend is inline with the slight sequential improvement from the tough of 2Q23. It aims to sustain its market share gain trend, and some SAP/Oracle implementation partners have begun cooperating with Beisen recently. Cash flow breakeven target in FY25 remains unchanged.
Post selling down from Sequoia, management indicated that no other pre-IPO investors have communicated that they intend to sell in the near term.
2023年10月至11月的預訂量相對低迷,但12月出現了良好的反彈,部分原因是低基數。整體需求繼續從23年第二季度的低谷中恢復。該公司表示,其24財年年收益率的17-18%的增長目標仍在按計劃進行,但2023年第四季度的預訂量是後端加載的,因此收入確認將受到輕微影響,同比增長約15%。北森的核心人力資源模塊保持了30%以上的快速增長,而招聘和評估模塊的需求僅出現了溫和的回升。對於24財年(截至3月24日),管理層預計非國際財務報告準則淨虧損約爲1.5億元人民幣,現金流出約1億元人民幣。
北森希望25財年的收入增長20%,好於24財年。這一趨勢與23年第二季度的艱難時期相比略有連續改善。它的目標是維持其市場份額增長的趨勢,一些SAP/Oracle實施合作伙伴最近已開始與北森合作。25財年的現金流盈虧平衡目標保持不變。
在紅杉拋售後,管理層表示,沒有其他首次公開募股前的投資者表示他們打算在短期內賣出。