Report published September 8, 2026

Goldman Sachs: Beisen (9669.HK) Asia Leaders Conference 2026 Takeaways & AI ARR Outlook

Goldman Sachs · September 8, 2026

Goldman Sachs hosted Beisen's CFO at its Asia Leaders Conference, highlighting strong momentum in AI-driven HR SaaS where AI product ARR reached Rmb75m in May 2026. With AI client penetration at only ~20%, management views AI adoption as the principal driver of expanding enterprise client spending.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Beisen's AI contract value surged ~10x year-over-year to Rmb87m in FY26, establishing AI features as the primary catalyst for client spending.
2.Annual Recurring Revenue (ARR) for AI products reached Rmb75m in May 2026, scaling rapidly from Rmb6m in March 2025 and Rmb59m in March 2026.
3.Substantial runway remains as AI client penetration stands at only ~20% across Beisen's 2,000+ client base, supported by strong renewal rates such as ~120% for AI interview products.

Asia Leaders Conference 2026
Key Takeaways
Reg AC
GS Factor Profile
M&A Rank
Quantum
Ratings, coverage universe and related definitions
Global product; distributing entities

Report data

Asia Leaders Conference 2026 banner graphic

Metric	Estimate	Context
AI contract value	87.0 RMB million	AI contracts signed by Beisen in FY26 compared to FY25
AI product Annual Recurring Revenues (ARR)	75.0 RMB million	ARR of Beisen's AI products
AI clients	2000.0 clients	Enterprise client base using Beisen AI solutions
AI client penetration rate	20.0%	Penetration of AI products within Beisen's total client base
AI interview renewal rate	120.0%	Net renewal rate for Beisen's AI interview product