The Zhitong Finance App learned that CICC released a research report saying that it is optimistic about the competitiveness of Beisen Holdings (09669.HK) in the cloud HCM product market and maintains an industry rating; however, considering liquidity discounts, the target price was lowered by 17% to HK$5.0 (based on 3.4 times FY25 market sales rate). Due to the lengthening implementation cycle and slower than expected new signings, the FY25/FY26 revenue forecast was lowered by 2.1%/3.7% to 960 million yuan/1.1 billion yuan. Considering the remarkable results of improving operating efficiency, the adjusted net loss forecast to mother was adjusted from 97.79 million yuan/43.42 million yuan to 73.48 million yuan/18.2 million yuan.

The Zhitong Finance App learned that CICC released a research report saying that it is optimistic about the competitiveness of Beisen Holdings (09669.HK) in the cloud HCM product market and maintains an industry rating; however, considering liquidity discounts, the target price was lowered by 17% to HK$5.0 (based on 3.4 times FY25 market sales rate). Due to the lengthening implementation cycle and slower than expected new signings, the FY25/FY26 revenue forecast was lowered by 2.1%/3.7% to 960 million yuan/1.1 billion yuan. Considering the remarkable results of improving operating efficiency, the adjusted net loss forecast to mother was adjusted from 97.79 million yuan/43.42 million yuan to 73.48 million yuan/18.2 million yuan.