YS Group (formerly Shebao Tech)

About YS Group (formerly Shebao Tech)

YS Group, formerly known as Shebao Tech, operates as a digital human resource management service provider, established in 2015. The firm targets businesses of all sizes, from small enterprises to large corporations and public institutions, offering a suite of services designed to manage the entire human resources lifecycle.

The company's business model is centered on providing cost-effective HR management solutions through a combination of a proprietary SaaS platform and offline service networks. Revenue is generated by delivering services that cover modules such as social insurance and housing fund administration, payroll processing, tax compliance, recruitment, background checks, and employee benefits. YS Group's market strategy involves an integrated online-offline approach, which, while requiring higher initial costs, is positioned to achieve economies of scale and offer competitive pricing.

The core of its offering is the HRWORK platform, a self-developed, one-stop digital HR service cloud platform launched in 2020. This system is complemented by an employee services platform and a cloud HR management system for government agencies. Specific products under its umbrella include 'Shebaotong' for social security, 'Ruzhitong' for onboarding, and 'Xinzitong' for payroll, among others. These tools are designed to automate and streamline payroll processes, handle tax filings, manage employee data, and ensure regulatory compliance, allowing client companies to focus on their core operations.

Since its inception, the company has progressed through several key milestones. It began its HR SaaS journey in 2017 by focusing on the digital transformation of social security services. In 2018, it expanded into off-line network services. The company has successfully raised significant capital to fuel its growth, including a Series C funding round of CNY 270 million in 2022, with investors like Enlight Growth Partners, 58 Industrial Fund, and Peakview Capital. This positions the company within the competitive HR management services market, which is characterized by a move towards integrated, whole-process solutions.