On the 20th floor of Shanghai Jing'an International Center Tower A in 2025, a dynamic data screen continuously flickers: the WanMa YuCai platform's daily AI call peak exceeds 5 million times, with daily Token consumption averaging over 1 billion. This platform, which was merely a C-end recruitment tool three years ago, has now evolved into an ecosystem hub connecting enterprises, talent, and technology, becoming the core pivot for major shareholder RENRUI HR's transformation from a human resources service provider to a "talent technology platform." RENRUI HR (06919) has redefined the industrial logic of human resources services through a silent technological revolution.

**Three Years of Transformation: Cognitive Leap from "Tool" to "Ecosystem"**

RENRUI HR's digital transformation was not achieved overnight. In 2022, when most human resources service providers were still focused on resume database expansion and headhunter response speed optimization, RENRUI HR had already begun incubating the WanMa YuCai project, quietly initiating its strategic leap from a human resources service provider to an AI-driven talent ecosystem builder.

The evolution trajectory of the WanMa YuCai platform clearly demonstrates this transformation path: In 2023, the platform was launched as an AI platform for B-end digital talent needs and C-end technical talent career development; In 2024, it pioneered the integration of the DeepSeek-V3 large model, becoming a leading domestic enterprise applying large model technology to the human resources field; By 2025, the platform further upgraded by integrating the R1 large model, constructing core scenarios for a new generation of AI recruitment platforms with lower costs and higher efficiency.

Beyond DeepSeek, WanMa YuCai has also integrated large models including Baidu's Wenxin Yiyan, Alibaba's Tongyi, and iFlytek's Xinghuo, successfully applying large models to multiple scenarios in job seeking and recruitment, while independently developing application-layer intelligent agents with core functions including:

For enterprise clients, providing efficient digital talent solutions through AI agents: - Intelligent Job Posting: Using AI semantic analysis to generate job descriptions, parsing JDs based on knowledge graphs to generate precise position descriptions and complete quick job posting - Intelligent Resume Parsing: Dual-engine automation of large models + knowledge graphs to extract resume information and structurally process key elements for AI resume analysis - Precise Person-Position Matching: Based on deep semantic understanding and knowledge graph retrieval architecture, AI automatically reads resumes → generates person-position matching scores → outputs recommendation reports, improving person-position matching efficiency - Intelligent Talent Pool Activation: Sourcing efficiency improvement to activate enterprise talent pools with intelligent resume status deduplication - Intelligent Interaction: Generating search models based on position information to help HR pre-communicate key matters with candidates - Intelligent Interviews: AI interviews and technical capability assessments, surpassing traditional HR interview capabilities

For job seekers, providing comprehensive job seeking and workplace services: The platform provides full career cycle services including job preparation, development planning, job assistance, and workplace advancement, covering a complete growth system from career positioning to skill enhancement, becoming a "lifelong career partner" for technical talent. - Resume AI Diagnosis: Combining the platform's underlying knowledge base and AI capabilities to comprehensively diagnose and evaluate user resumes, providing professional optimization suggestions - AI Salary Analysis: Helping job seekers understand salary data for positions to improve job success rates - AI Mock Interviews: Assisting job seekers in discovering personal capability advantages and teaching salary negotiation strategies and techniques - AI Application Recommendations: Position analysis prediction to explore real requirements behind positions, combining job seekers' real profiles to provide job seeking advice - Talent Development: Strategic cooperation with Huawei for HarmonyOS ecosystem talent development, reaching AI talent development plans with Baidu and Alibaba

As stated by WanMa YuCai founder Zhou Yuan, over 90% of the platform's functions are reconstructed by models, with semantic understanding and intelligent matching replacing traditional keyword scoring, truly achieving "capability-centered" person-position matching.

This transformation marks that the essence of human resources services is being rewritten: talent is no longer static "resources" but dynamic "assets"; enterprises are no longer just "employers" but "partners in talent growth."

Meanwhile, RENRUI HR, leveraging WanMa YuCai's AI exploration and its own years of technology investment, has gradually achieved industrial transformation, breaking through the "labor-intensive" ceiling of traditional human resources services, realizing a business model upgrade from "making money through people" to "making money through systems and data," marking its leap from a "tool-oriented" enterprise to an "ecosystem-oriented" platform enterprise.

**Industry Feedback: "Golden Corpus" from Flexible Employment Data Pool**

WanMa YuCai's success is inseparable from RENRUI HR's industrial foundation accumulated over many years. Its competitive advantage in the startup phase comes precisely from B-end real employment needs, full-process business data, and C-end talent profiles, providing valuable data nourishment for WanMa YuCai.

RENRUI HR has long served leading clients in important industries such as internet, automotive, and telecommunications, accumulating employment demand, project cycle, talent structure, and performance feedback data covering over 500 positions, becoming "golden corpus" for training AI recruitment models.

Specifically, a cumulative database of tens of millions of outsourced employees and candidates has formed a treasure trove of massive job demand and behavioral data. WanMa YuCai conducts deep mining of this data through AI technology, constructing precise talent profiles and position models.

This data advantage forms a virtuous cycle: WanMa YuCai's AI models become more intelligent through continuous learning of massive data, while more intelligent models in turn optimize RENRUI HR's recruitment efficiency. This "business-data-technology closed loop" makes RENRUI's talent profiles and position models increasingly precise, while allowing AI models to continuously self-calibrate in actual recruitment scenarios, forming a flywheel effect of "becoming smarter with use, more useful as it gets smarter."

The 34.5% year-over-year growth in per capita net profit in H1 2025 is also a direct manifestation of the data flywheel. This industry-level data closed loop is a moat that pure technology companies find difficult to replicate.

**Capital Narrative: Market Value Reconstruction through Ecosystem Strategy**

The ecosystem strategy demonstration has gained new valuation imagination from the capital market. In the month before the disclosure of RENRUI HR's 2025 interim report, the company's stock price rose 26.3% cumulatively over three days. The capital market valued not only RENRUI HR's performance growth after the annual report release but also envisioned the valuation imagination demonstrated by its ecosystem strategy.

In the AI-empowered "bidirectional flow," WanMa YuCai's intelligent matching and intelligent communication functions enhance RENRUI's recruitment efficiency. In H1 2025, RENRUI HR's revenue grew 26.6% year-over-year, with significantly increased contributions from the digital talent ecosystem chain. The platform sustainably helps enterprises achieve higher person-position matching and lower recruitment costs.

This not only validates the commercial returns of technology investment but also provides a quantifiable model for the group's subsequent replication in other industries (such as overseas human resources).

Financial data shows that in H1 2025, RENRUI HR's digital technology and cloud services segment contributed revenue of 950 million yuan, accounting for 38.2%; its gross profit contribution accounts for approximately 43.0% of RENRUI HR's total gross profit, surpassing general service outsourcing as the first growth curve and becoming the company's second growth pole.

RENRUI HR founder and CEO Zhang Jianguo frankly stated that AI will completely change traditional recruitment models, and the third-generation recruitment websites represented by AI technology-driven "WanMa YuCai" will be the optimal solution to address both quantity and quality gaps in digital talent.

On the industry side, WanMa YuCai constructs a talent growth ecosystem through platform operations, with millions of private domain users in technical communities generating tens of thousands of professional discussions daily. AI systems mine potential talent leads from these discussions, achieving precise matching with B-end demands.

At the capital level, RENRUI's ecosystem layout forms unique barriers. Through strategic cooperation with Alibaba Cloud and Baidu Intelligent Cloud, the company gains priority interfaces for large model applications; the jointly released "Industrial Digital Talent Report" with Deloitte establishes its voice in industry standard setting.

After completing the leap from "recruitment tool" to "talent ecosystem" platform in three years, RENRUI HR's future game continues: On one hand, continuously improving platform AI capabilities, perfecting precise matching of digital talent on both B and C ends, cultivating and delivering scarce talent for the market, and constructing a new digital talent ecosystem under the AI value chain; On the other hand, the group further extends AI capabilities to the full process of flexible employment scenarios, achieving a digitalized closed loop from "recruitment" to "employment management, performance evaluation, and career development."

**Conclusion**

Looking back over these three years, RENRUI HR's strategic layout clearly emerges: It used WanMa YuCai as a testing ground to verify the feasibility of AI agents in talent services; used its own industrial accumulation as soil to cultivate AI models with commercial closed-loop capabilities; ultimately, it fed back technical capabilities to its main business, driving the entire organization's leap from "human resources intermediary" to "talent technology platform."

The blueprint described by Zhang Jianguo is more disruptive: WanMa YuCai represents the embodiment of RENRUI HR's strategic value in constructing an ecosystem, and in the future, WanMa YuCai will evolve into "talent digital economy infrastructure."

When asked about risks, he referenced the Red Flag Canal spirit in response, emphasizing continuous evolution: "Only by adhering to long-termism can enterprises achieve high-quality development."

It now appears that RENRUI HR's three-year strategic layout was not betting on momentary efficiency improvements, but on the talent infrastructure of the next era. And WanMa YuCai is the first cornerstone of this infrastructure.