Core Insights - Northstar Holdings reported an overall revenue of 516 million RMB for the six months ending September 30, 2025, representing a year-on-year growth of 18.2% [1] - The adjusted EBITDA for the same period was 39.3 million RMB [1] Business Growth - The company has successfully signed major clients such as SAIC Motor, SAIC-GM, and Heng Rui Pharmaceutical, continuing its large client strategy [2] - The annual recurring revenue (ARR) for the Core HCM integrated solution grew by 27% year-on-year, with ARR accounting for 58% of total revenue [2] - Subscription revenue retention rate improved to 115%, indicating strong customer loyalty and renewal capability [2] Learning Business Expansion - The learning business achieved explosive growth, with ARR nearing 100 million RMB, a 305% increase year-on-year [3] - The company serves nearly 4,500 clients in this segment, driven by a complete service ecosystem and innovative AI Learning solutions [3] AI Family Contracts - Northstar's AI Family 2.0 has signed contracts exceeding 26 million RMB, with over 800 clients [4] - The AI Interviewer product has entered a rapid commercialization phase, with new contracts amounting to nearly 10 million RMB [4] - The AI Leadership Coach also showed strong market performance, with new contracts exceeding 6 million RMB [4] Future Outlook - The company plans to continue investing in R&D and deepen its AI strategy to better meet client needs [4] - Northstar aims to maintain its focus on large clients and strategic acquisitions to drive higher growth and long-term value [4]

Summary of Key Points Core Viewpoint - Beisen Holdings has been actively repurchasing its shares, indicating a commitment to enhancing shareholder value and confidence in its financial health [2][3]. Share Buyback Details - On November 25, Beisen Holdings repurchased 588,400 shares at a price range of HKD 6.900 to HKD 7.000, totaling HKD 4.0986 million [2]. - The stock closed at HKD 6.930 on the same day, reflecting a 0.43% increase with a total trading volume of HKD 10.2676 million [2]. - Year-to-date, the company has conducted 38 buybacks, acquiring a total of 8.663 million shares for a cumulative amount of HKD 64.7199 million [2]. Historical Buyback Data - The buyback history includes various dates with specific details on the number of shares repurchased, highest and lowest prices, and total amounts spent [3]. - For instance, on October 24, 2025, the company repurchased 523,800 shares at a maximum price of HKD 8.150, totaling HKD 4.2561 million [3]. - The buyback activity shows a consistent approach to managing share capital, with significant repurchases occurring throughout the year [3].

智通财经APP讯，北森控股(09669)发布公告，于2025年10月24日斥资409.86万港元回购58.84万股。 ...

北森控股(09669)发布公告，于2025年10月24日斥资409.86万港元回购58.84万股。 ...

格隆汇11月25日丨北森控股(09669.HK)公告，11月25日耗资401万港元回购58.8万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 北森控股有限公司 呈交日期： 2025年11月25日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09669 | 說明 | 股份 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已 ...

Core Insights - The company reported significant growth in its unaudited consolidated performance for the six months ending September 30, 2025, with total revenue reaching RMB 516.0 million, a year-on-year increase of 18.2% [1] - The core business, cloud-based HCM solutions, contributed RMB 414.1 million in revenue, reflecting a 22.2% year-on-year growth and accounting for 80.3% of total revenue [1] - The adjusted gross margin improved to nearly 70%, and the adjusted net margin reached 3.8%, marking a substantial improvement of 11.6 percentage points, achieving profitability [1] Business Performance - The overall subscription revenue retention rate remained stable at 105%, indicating strong customer loyalty and renewal capabilities [1] - The annual recurring revenue (ARR) for Core HCM integrated solutions grew at a rapid pace of 27%, with ARR accounting for 58% of total revenue [1] - The learning business also experienced explosive growth, with ARR nearing RMB 100 million, a staggering increase of 305% year-on-year, serving nearly 4,500 customers [2] AI Innovations - The company launched AI Family 2.0, which includes ten AI assistants covering over 50 HR scenarios and 500 AI features, enhancing the efficiency and intelligence of HR management solutions [2] - New contract amounts for AI Family exceeded RMB 26 million, with over 800 customers, including nearly RMB 10 million for the AI Interviewer product [4] - The AI Leadership Coach also showed strong market competitiveness, with new contracts exceeding RMB 6 million and nearly 100 customers [4] Future Outlook - The company aims to continue its R&D investments to deepen its AI strategy and introduce AI Agents tailored to customer business scenarios [5] - The focus will be on large customer strategies, addressing the in-depth needs of enterprises with over 10,000 employees, and enhancing customer success and service systems [5] - Ongoing strategic acquisitions are expected to drive higher growth and long-term value, creating stable and substantial returns for investors [5]

Core Insights - Beisen Holdings (09669) reported revenue from customer contracts of 516 million RMB for the six months ending September 30, 2025, representing a year-on-year increase of 18.2% [1] - The company recorded a loss attributable to shareholders of 18.408 million RMB, which narrowed by 81.4% year-on-year [1] - Basic loss per share was 0.03 RMB [1] - The increase in total revenue was primarily driven by the growth in subscription revenue from cloud-based HCM solutions [1]

Core Viewpoint - Beisen Holdings (09669) reported a revenue of 516 million RMB for the six months ending September 30, 2025, representing an 18.2% year-on-year growth, primarily driven by increased subscription revenue from cloud-based HCM solutions [1] Financial Performance - Revenue from customer contracts reached 516 million RMB, marking an 18.2% increase compared to the previous year [1] - The loss attributable to shareholders narrowed to 18.408 million RMB, a reduction of 81.4% year-on-year [1] - Basic loss per share was reported at 0.03 RMB [1]

Core Insights - The company reported a total revenue of RMB 516 million for the six months ending September 30, 2025, representing an 18.2% increase compared to the same period last year [1] - Revenue from cloud HCM solutions reached RMB 414 million, marking a 22.2% year-over-year growth, and accounted for over 80% of total revenue, an increase of 2.7 percentage points from the previous year [1] - The adjusted net profit margin improved by 11.6 percentage points to 3.8% [1] - Adjusted EBITDA reached RMB 39.3 million, indicating strong operational performance [1] - Subscription revenue retention rate remained at a healthy 105% [1] - Core HCM integrated annual recurring revenue (ARR) maintained a growth rate of 27% [1]