Leidi.com Lei Jianping April 13
Beisen Holdings Co., Ltd. (abbreviation: Beisen Holdings, stock code: "09669") was listed on the Hong Kong Stock Exchange today, becoming "China's first HRSaaS share".
The issue price of Beisen Holdings is 29.7 Hong Kong dollars, and the net fundraising amount is 155 million Hong Kong dollars. Beisen Holdings only released 1.12% of the equity this time, which means sacrificing the amount of financing to maintain the valuation.
The opening price of Beisen Holdings was 29.6 Hong Kong dollars, a slight drop from the issue price; it fell to 19.02 Hong Kong dollars during the session, a 35.74% drop from the issue price; after that, the company raised its stock price, and the closing price was 26.1 Hong Kong dollars, still 12.12% lower than the issue price; Based on the closing price, the company's market value is HK$18.669 billion.
Annual revenue 680 million
Beisen Holdings is a cloud HCM solution provider. In 2010, it determined the "integrated HRSaaS" strategy, and successively launched SaaS software with different HCM modules such as evaluation cloud, recruitment cloud, performance cloud, core manpower solution, and learning cloud.
In 2020, Beisen Holdings launched an integrated HRSaaS and talent management platform - iTalentX, covering the entire life cycle scenarios of employees from entry, transfer, promotion to resignation.
For the year ending March 31, 2022, Beisen Holdings’ revenue was 680 million yuan, and the revenue for the first three years was 328 million yuan, 459 million yuan, and 556 million yuan;
For the year ending March 31, 2022, Beisen Holdings had an operating loss of 289 million yuan, and the operating losses in the first three years were 250 million yuan, 320 million yuan, and 141 million yuan, respectively.
For the year ending March 31, 2022, Beisen Holdings had a loss of 1.908 billion yuan for the period, and the losses for the first three years were 690 million yuan, 1.267 billion yuan, and 940 million yuan.
For the half year ending September 30, 2022, Beisen Holdings’ revenue was 350 million yuan, compared with 313 million yuan in the same period last year; its operating loss was 163 million yuan, compared with 162 million yuan in the same period last year; the loss during the period was 163 million yuan. 100 million yuan, and the loss in the same period last year was 820 million yuan.
For the half year ending September 30, 2022, Beisen Holdings had an adjusted loss of 152 million yuan, compared with an adjusted loss of 80.01 million yuan in the same period last year.
As of September 30, 2022, Beisen Holdings held 78.919 million yuan in cash and cash equivalents, compared with 760 million yuan in cash and cash equivalents in the same period last year.
Matrix Partners Sequoia Primavera Capital is a shareholder
The executive directors of Beisen Holdings are Wang Zhaohui, Ji Weiguo, and Ms. Liu Xianna; the independent non-executive directors are Du Kui, Zhao Hongqiang, and Ge Ke.
Before the IPO, MatrixChin held 15.54%, Wang Zhaohui held 11.86%, Ji Weiguo held 11.8%, Senyan held 4.49%, Sequoia Huansen’s Max Woods Limited held 9.37%, Genesis Capital held 8.27%, SCGC holds 7.99%, and SoftBank’s SVF Bandicoot holds 6%;
Before the IPO, the shareholding structure of Beisen Holdings
MatrixV holds 4.81%, Xinyin Holdings Limited holds 3.66%, Gongqingcheng Yuande's Beis Investment (BVI) Ltd holds 3.57%, SCC VII holds 1.82%, and Primavera Capital's Bargate holds 1.8%;
WS Growth holds 1.4%, Space Trek holds 1.2%, Oakridge Beisen Limited holds 1.03%, SCC VI holds 1.02%, Fidelity’s FCSSP holds 0.97%, Fidelity Funds holds 0.81%, and Matrix VA holds 0.5%;
GCBVI holds 0.48%, Zhide One holds 0.42%, GC Holdings holds 0.3%, GS II holds 0.27%, Healthy GHY Limited holds 0.26%, Lotusleaf Limited holds 0.2%, WS Emp The stake is 0.13%, and Fidelity Investment Funds holds 0.02%.
After the IPO, the shareholding structure of Beisen Holdings
After the IPO, MatrixChin holds 14.85%, Wang Chaohui holds 11.33%, Ji Weiguo holds 11.27%, Senyan holds 4.29%, Max Woods Limited holds 8.95%, Genesis Capital holds 7.9%, SCGC holds 7.64% %, SVF Bandicoot holds 5.74% of the shares;
MatrixV holds 4.6%, Xinyin Holdings Limited holds 3.5%, Beis Investment (BVI) Ltd holds 3.41%, SCC VII holds 1.72%, Bargate holds 1.72%, and WSGrowth holds 1.34%. Space Trek LP holds 1.15%, Oakridge Beisen and SCC VI hold 0.98% respectively, FCSSP holds 0.93%, Fidelity Funds holds 0.77%, and Matrix VA holds 0.48%;
GCBVI holds 0.46%, Zhide One holds 0.4%, GC Holdings holds 0.29%, GS II holds 0.26%, Healthy GHY Limited holds 0.25%, and Lotusleaf Limited holds 0.2%;
WS Emp holds 0.12% and Fidelity Investment Funds holds 0.02%. Qiusen Holding Limited holds 2.35% of the shares, and other public shareholders hold 1.12%.
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