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June 2026
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Largest HRTech Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
BOSS Zhipin, Quhuo, Liepin, Lucas GC and Baiya International Group.
 | Kanzhun's Boss Zhipin job platform connects job seekers and employers. Boss Zhipin is China’s largest online recruitment platform based on monthly active users, or MAU, and was established in 2014. Kanzhun earns revenue by providing services to enterprise customers primarily through its mobile app, which promotes engagement between recruiters and workers and operates on a recommendation basis powered by artificial intelligence. The platform specializes in transportation, logistics, construction, and service-based industries. About 85% of the companies looking to hire are small and medium-size enterprises. Its main competitors are 58.com, 51job, and Zhilian Zhaopin. Tencent has a 9.2% stake in Kanzhun. | $14 | -23% | $6B | $3B | 2.6x | 5.6x | ||
| Quhuo Ltd is a gig economy platform focusing on local life services in China. It provide tech-enabled, end-to-end operational solutions to consumer service businesses, including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services. Its three operating segments, include (i) on-demand delivery solutions, (ii) mobility service solutions, and (iii) housekeeping and accommodation solutions and other services. | $4 | -97% | $352M | $363M | - | - | ||
| Tongdao Liepin Group is a China-based company engaged in the provision of talent acquisition services to individuals, businesses, and headhunters. The company provides a platform for job seekers to seek career opportunities by connecting them to companies hiring. The firm delivers talent services to individual users mainly through its website, mobile application, and WeChat official account. | $0 | -- | $145M | ($129M) | (0.4x) | (3.6x) | ||
| Lucas GC Ltd is a technology-driven online agent-centric human capital management service provider targeting professionals based on PaaS in China. Its business segments consist of recruitment services, outsourcing services, and other services, which include information technology services and training services. | $2 | -95% | $87M | $96M | 0.6x | 23.3x | ||
| Baiya International Group Inc is a company which operates through its subsidiary Gongwuyuan operates a cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions in the flexible employment marketplace. The Company's business is focused around on four primary services which are job matching services, entrusted recruitment services, project outsourcing services and abor dispatching services in the flexible employment market within China, mainly in the core manufacturing regions including the Pearl River Delta and Yangtze River Delta region. | $1 | -- | $4M | $3M | 0.2x | (0.3x) | ||
| - | $0 | -- | $743K | $6M | - | - | ||
| Median | $1 | -95% | $116M | $51M | 0.4x | 2.6x |
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