BIYA | Market Cap: $110.7M (07/13/26)
Industry:
Commercial Services Software
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DESCRIPTION

Baiya International Group operates through its VIE, Gongwuyuan, a China-based HR technology platform focused on flexible employment for blue-collar workers. Gongwuyuan connects manufacturing companies that need labor with HR service companies that supply workers, primarily across the Pearl River Delta and Yangtze River Delta regions, covering over 5 provinces and 30 cities. The platform offers three core services: job matching (transparent agent connecting employers and HR service firms), entrusted recruitment (Gongwuyuan manages the full recruitment process end-to-end, keeping the employer and HR firm anonymous to each other), and project outsourcing (coordinating labor for project-based assignments). Entrusted recruitment is the primary revenue driver, and the model benefits from high blue-collar worker turnover — roughly twice per year — which creates recurring demand. Gongwuyuan charges transaction-based service fees tied to the volume of workers recruited or assignments completed. The platform also bundles SaaS tools including HR management, electronic contracts, payroll, and a payment assurance feature called Yun Dan Bao. Gongwuyuan has approximately 8,263 registered company clients. Growth initiatives include building a worker supply pipeline through partnerships with over 230 vocational colleges and expanding SaaS offerings. Baiya has also announced a pending acquisition of Starfish Technology, a Dubai-based fintech company focused on a decentralized liquidity protocol on BNB Chain, which would represent a significant departure from Gongwuyuan's core HR business.

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