On June 22, 2026, Beisen Holding Limited (stock code: 9669.HK) announced its audited consolidated results for the fiscal year ended March 31, 2026. During the period, the company posted robust revenue growth with a broad improvement in operational quality.
Total revenue reached approximately RMB 1,104.8 million in FY2026, up 16.9% year on year (“yoy”). HCM solutions revenue amounted to approximately RMB 864.5 million, an increase of 19.8% yoy. Profitability improved markedly, with adjusted net profit margin reaching 5.0%, an improvement of 8.1 percentage points yoy. Adjusted net profit turned positive, marking a turnaround to profitability. Cash flow also strengthened significantly, with net operating cash flow of RMB 155.4 million, up 102.0% yoy.
Beisen’s AI monetization continued to lead the sector. New contract value for AI products exceeded RMB 87 million, a tenfold increase yoy for FY2026, highlighted by a remarkable 120% of Net Dollar Retention (NDR) for AI Interviewer agent. Beisen’s core products maintained strong growth momentum. Notably, the ARR for the integrated Core HCM grew by 23% yoy and its Net Dollar Retention rate remained at a highly healthy level of 114%. Furthermore, the ARR for our E-learning business increased by 19% yoy, further amplifying the competitive advantage of the Beisen Learning brand.
Launched AI HR Expert Platform Mavens, Fully Transitioning into an HR Applied AI Company
On June 24, Beisen officially announced its comprehensive upgrade from a traditional “HR SaaS” vendor to an “applied AI” leader in the HR space, unveiling Mavens – Unified AI HR Expert Platform – the first of its kind in China. Rather than being a mere bolted-on feature attached to legacy systems, Mavens is a true “digital HR expert team” capable of delivering concrete outcomes and professional insights. Built on Beisen’s proprietary domain-specific model, SenGPT, and the SenClaw AI-Native architecture, combined with the company’s more than 20 years of accumulated People Science expertise, Mavens is designed to serve as a one-stop HR expert platform, working alongside HR professionals to drive business, organisation, and employee development.
Beisen plans to roll out at least 15 AI HR experts over the course of this year. Among them, assistant-type digital HR solutions, powered by Agent capabilities that execute tasks and deliver outcomes, can handle high-frequency transactional HR work, freeing HR professionals from repetitive administrative duties and improving efficiency. In addition, expert-type digital HR solutions, equipped with professional talent science knowledge and accumulated experience combined with comprehensive organisational and personnel data, can provide professional insights in areas such as talent acquisition, competency development, talent selection and career advancement. These digital HR experts are expanding both business boundaries and organizational capabilities.
Core Advantages and Unique Differentiation of Beisen
Beisen’s differentiation in the AI HR space rests on three capabilities that are difficult to replicate. First, domain expertise in People Science. With over two decades of practical experience in talent assessment and management, Beisen is backed by nearly 300 psychology experts and a massive database of hundreds of millions of real-world assessment samples. This deep foundation has shaped our proprietary expertise across competency, assessment and development technologies. Second, integrated HR SaaS operations and data. Serving more than 6,000 medium-to-large enterprises, Beisen has deep knowledge of full-scenario HR operations, spanning recruitment, assessment, Core HR, time and attendance, payroll and compensation, performance management and learning. Beisen is uniquely positioned as the only professional HR company that possesses consulting and software DNA. Third, dedicated Forward Deployed Engineers (FDE) team. Beisen has strategically invested in a specialized team of over 300 FDEs. Working side-by-side with our customers’ business teams, they deeply customize job models and role profiles. This allows AI experts on our Mavens platform to evolve within each customer’s unique talent logic, organisational language, and business scenarios – truly transforming “Beisen’s AI” into “the Customer’s AI.”
Beisen’s applied AI in the HR sector has fully entered the stage of large-scale monetization. In FY2026, AI contract value exceeded RMB 87 million, representing a 10-fold year-over-year surge. The number of AI customers surpassed 1,400, driving the penetration rate among existing customer base to over 15%, up 12 percentage points yoy. Average contract value per customer doubled and reached RMB 59,000. Equally impressive is the standout gross margin of 79% for our AI products. Beisen’s AI Family 2.0 product suite encompasses 10 major AI Agents. Among them, the AI Interviewer achieved explosive growth;during the reporting period, the number of customers reached 619, and the corresponding contract value exceeded RMB 21 million – surging over 3 fold year-over-year. It has emerged as the tool of choice for leading enterprises including Changan Automobile, CSOT and Haier. Furthermore, the AI Leadership Coach Mr. Sen successfully secured contracts with benchmark customers such as CATL and China Telecom. AI Coaching agent successfully signed with leading pharmaceutical and retail brands including Innovent Biologics, CR Double-Crane, Chow Tai Fook and Ningbo Fotile, helping enterprises achieve notable improvements in talent retention and development.
Solid Execution of Enterprise Strategy, Driving Rapid Growth of Core HCM
Industry consolidation is accelerating, with market share concentrating among leading players. Foreign vendors are continuing to scale back their China operations, while domestic small and mid-sized players are losing competitiveness. Beisen, centred on customer success, has leveraged its mature integrated product system, solid implementation and service model tailored to enterprise scenarios to capture rising demand for high-end digital upgrades. During the period, the company’s enterprise strategy achieved robust results, acquired industry leaders including Lei Shing Hong, Thundersoft, Siemens (China), Cummins and Panasonic, among many others. It also recruited top-tier HCM talent, significantly strengthening key account sales and service capabilities. Penetration of the high-end market continued to rise, further entrenching Beisen’s leading position in digital HR for medium-to-large enterprises.
As of March 31, 2026, Core HCM integrated ARR accounted for 60% of total ARR (including the acquired Cool College), up 23% yoy. Customer number exceeded 2,700, with a customer retention rate of 95% and a net dollar retention rate of 114%. During the period, Core HCM signed contracts with multiple 10,000-employee enterprises including Himile Group and Siemens (China), with benchmark cases validating the product’s strong implementation capabilities.
Beisen believes strong ESG governance and practice are key to long-term sustainable development. During the reporting period, the company’s ESG rating improved significantly, with its S&P CSA score rising from 42 to 58, ranking first in China’s software industry. It was included in the S&P Global Sustainability Yearbook for the first time and received the Industry Mover award – the only software company globally to receive this recognition. Beisen also published the first ESG Value Accounting Report in the global software industry. Its industry-leading digital carbon reduction solution received authoritative certification from SGS.
Looking ahead, the company will deepen our focus on integrated, end-to-end HR product suite. We will ramp up R&D investments in AI products and industry-specific content, and continue to attract top-tier global expert in People Science to solidify the foundational capabilities of AI-driven professional judgement. By deepening our technological moats, we aim to consistently lead the advancement of the HR Tech. Furthermore, we will continuously strengthen our content ecosystem and customer base through strategic M&A, and deepen our global footprint, ultimately generating long-term, sustainable value for our investors.
About Beisen
Founded in 2002, Beisen is an leading HR Applied AI company in China and the first HR SaaS company to list on the Hong Kong Stock Exchange. It has ranked first in China’s HCM SaaS market share for 10 consecutive years (IDC data).
Powered by its self-developed PaaS platform, Beisen partners with over 200 ecosystem companies to deliver integrated HR SaaS and talent management solutions – iTalentX – covering the full spectrum of HR scenarios including recruitment, assessment, personnel, attendance, payroll, performance, learning and talent review, helping enterprises improve organisational efficiency, strengthen talent management, and support overseas business expansion.
As an AI-driven innovator in talent management, Beisen launched the AI Family product suite in 2024, now covering 10 major AI Agents with 500+ AI features, spanning the AI Interviewer, AI Coaching, AI Leadership Coach, AI Course Assistant, and AI Employee Assistant. AI Agents now serve over 1,400 enterprise customers, ushering China’s HR management into the Agents era.
With innovative product capabilities and a leading customer success manager (CSM) team, Beisen has served more than 6,000 medium-to-large enterprises, including 70% of the Fortune China 500. Each day, over 150,000 HR professionals and 20 million employees use the iTalentX platform for efficient organisational and talent collaboration. Adhering to its integrated HR SaaS strategy for a decade, Beisen has built industry barriers through the deep integration of People Science and AI Agents, continuing to lead the intelligent transformation of the human resources industry.