Financial Performance - For the fiscal year ending March 31, 2023, total revenue was RMB 750.9 million, representing a year-over-year increase of 10.5%[4] - The net loss for the same period was RMB 2,599.0 million, an increase of 36.2% compared to the previous year[4] - Adjusted net loss for the fiscal year was RMB 300.6 million, reflecting an increase of 83.7% year-over-year[4] - Gross profit for the same period was RMB 415,564 thousand, compared to RMB 400,511 thousand in 2022, indicating a slight increase of about 3.8%[18] - The net loss attributable to equity holders for the year was RMB 2,598,992 thousand, which is an increase from RMB 1,908,772 thousand in 2022, reflecting a rise in losses of approximately 36.1%[20] - Basic and diluted loss per share for the year was RMB 12.16, compared to RMB 8.92 in 2022, indicating a worsening of the loss per share by approximately 36.5%[20] - The total revenue for the reporting period was RMB 750.9 million, representing a year-on-year increase of 10.5% from RMB 679.6 million in the same period of 2022[63] - The total loss for the year was RMB 2,598,992 thousand, which represents a 36.2% increase from RMB 1,908,772 thousand in the previous year[90] Revenue Breakdown - Revenue from cloud HCM solutions reached RMB 537.3 million, up 15.9% year-over-year, accounting for 71.5% of total revenue[5] - Revenue from professional services was RMB 213.7 million, a decrease of 1.2% year-over-year, making up 28.5% of total revenue[5] - Subscription revenue from the cloud HCM solution increased by 15.9% to RMB 537.3 million, up from RMB 463.5 million in the previous fiscal year[66] - Professional services revenue decreased by 1.2% to RMB 213.7 million from RMB 216.2 million in the previous fiscal year[67] - Annual recurring revenue (ARR) for the Core HCM integrated solution increased by 37% from RMB 215.8 million to RMB 296.1 million[66] Customer and Market Position - The company maintained a market share of 12.9% in the Chinese HCM SaaS market for 2022, ranking first for seven consecutive years[7] - The customer base includes over 5,100 companies, with more than 70% of the Fortune China 500 as clients as of March 31, 2023[13] - The number of cloud HCM solution customers grew from over 4,780 as of March 31, 2022, to over 5,119 as of March 31, 2023[66] - The company reported a Net Promoter Score (NPS) of 31.3 from the latest customer survey conducted in March 2023, indicating customer loyalty[14] Research and Development - R&D investment for the fiscal year was RMB 303.3 million, representing a year-over-year increase of 17.4%[5] - The company is integrating generative AI technology into its cloud HCM solutions to transform HR practices[15] - The company is developing new HCM solutions to strengthen its position as a market leader[15] - Research and development expenses increased by 17.4% from RMB 258.4 million in fiscal year 2022 to RMB 303.3 million in the reporting period, driven by an increase in employee benefits[77] Operational and Financial Management - The company is focusing on expanding its customer base by targeting mature and emerging companies across various industry verticals[16] - The company is committed to continuous innovation and enhancement of its products to provide exceptional value to clients[15] - The company plans to continue investing in operational and product support teams to enhance customer service and experience, supporting ongoing business growth[71] - The company has established policies to ensure that trade receivables are granted to counterparties with appropriate credit records, with ongoing assessments of credit risk[102] Cash Flow and Liquidity - For the fiscal year ending March 31, 2023, the group reported a net cash outflow from operating activities of approximately RMB 151,867,000[25] - Cash and cash equivalents as of March 31, 2023, amounted to RMB 408.7 million, up from RMB 288.7 million as of March 31, 2022[93] - The company plans to manage liquidity risks by maintaining sufficient cash levels to mitigate cash flow volatility[92] - The company maintains sufficient cash and cash equivalents to meet liquidity needs, with regular monitoring of liquidity risk[103] Corporate Governance and Future Outlook - The company has adopted the corporate governance code as a basis for its governance practices since its listing date[112] - The environmental, social, and governance report will be included in the annual report for the year ending March 31, 2023, expected to be published by the end of July 2023[114] - The company expresses gratitude to shareholders, management, employees, business partners, and customers for their support and contributions[122] - The outlook for the cloud HCM solutions sector is optimistic, driven by the Chinese government's support for digital economy initiatives[7]
北森控股(09669) - 2023 - 年度业绩