SHENZHEN, China, Sept. 29, 2026 /PRNewswire/ -- Baiya International Group Inc. ("Baiya" or the "Company") (Nasdaq: BIYA), a human resource ("HR") technology company operating an intelligent SaaS-enabled new-economy human capital platform focused on the full lifecycle management of freelance talent, today announced its unaudited financial results for the first half of fiscal year 2026 ended June 30, 2026.
Ms. Linxi Xie, Chief Executive Officer of Baiya, commented, "The first half of fiscal year 2026 was a period of transition for Baiya, as we began generating revenue from our new business lines and continued to streamline our operations. Our continuing operations delivered net revenues of $0.8 million, primarily from our intelligent matching and SaaS platform services, which contributed $0.7 million, with the remainder from our business management and information system consulting services. At the same time, total operating expenses decreased by 31.6% to $3.5 million, helping narrow net loss attributable to common shareholders to $2.4 million from $4.8 million for the same period last year. During the period, we also completed the disposition of Juxing Investment Group (Hong Kong) Limited and its related operations as part of our ongoing efforts to improve profitability and support sustainable growth. Looking ahead, we plan to further develop our intelligent SaaS-enabled new-economy human capital platform, enhance our service capabilities, and build on the momentum of our new business lines, with the goal of creating long-term value for our shareholders."
First Half of Fiscal Year 2026 Financial Summary
-- Net revenues from continuing operations were $0.8 million for the first
half of fiscal year 2026, compared to nil for the same period last year.
-- Gross profit was $77,498 for the first half of fiscal year 2026, compared
to nil for the same period last year.
-- Net loss attributable to Baiya was $2.4 million for the first half of
fiscal year 2026, compared to $4.8 million for the same period last year.
-- Basic and diluted net loss per common share were $0.54 for the first half
of fiscal year 2026, compared to $96.15 for the same period last year.
First Half of Fiscal Year 2026 Financial Results
Net Revenues
Net revenues were $0.8 million for the first half of fiscal year 2026, compared to nil for the same period last year.
-- Revenue from intelligent matching and SaaS platform services was $0.7
million for the first half of fiscal year 2026. The Company started its
intelligent matching and SaaS platform business in 2026, and it did not
generate revenue from this business for the same period last year.
-- Revenue from business management and information system consulting
services was $69,243. The Company started its business management and
information system consulting services in 2026, and it did not generate
revenue from these services for the same period last year.
Cost of Revenues
Total cost of revenue was $0.7 million for the first half of fiscal year 2026, compared to nil for the same period last year.
Gross Profit
Gross profit was $77,498 for the first half of fiscal year 2026, compared to nil for the same period last year.
-- Gross profit for the intelligent matching and SaaS platform services was
$43,915 for the first half of fiscal year 2026. The Company started its
intelligent matching and SaaS platform business in 2026, and it did not
generate gross profit from this business for the same period last year.
-- Gross profit for the business management and information system
consulting services was $33,583. The Company started its business
management and information system consulting services in 2026, and it did
not generate gross profit from these services for the same period last
year.
Operating Expenses
Total operating expenses were $3.5 million for the first half of fiscal year 2026, a decrease of 31.6% from $5.1 million for the same period last year. The change was mainly due to a decrease of $1.7 million in general and administrative expenses which was partly offset by an increase of $28,646 in selling expenses.
-- Selling expenses were $0.4 million for the first half of fiscal year
2026, an increase of 8.7% from $0.3 million for the same period last
year. The increase was primarily due to the $83,333 increase in
advertising and promotion expense, which was partly offset by $52,714
decrease in meal and entertainment expense.
-- General and administrative expenses were $3.2 million for the first half
of fiscal year 2026, a decrease of 34.3% from $4.8 million for the same
period last year. The decrease was mainly due to decreased consulting and
professional service fees by $1.0 million, which mainly included legal
fees, professional management fees, stock transfer agent fees, audit and
accounting fees, and HR service fees, decreased telecom service expense
by $0.8 million, which was partly offset by increased payroll expenses by
$85,351 and increase stock compensation expense by $51,559 and increased
other expenses by $51,424.
Net Income from Discontinued Operations
Net income from discontinued operations was $0.9 million for the first half of fiscal year 2026, compared to $0.4 million for the same period last year.
Net Loss Attributable to Baiya
Net loss attributable to common shareholders was $2.4 million for the first half of fiscal year 2026, compared to $4.8 million for the same period last year. The decrease in net loss of $2.3 million was primarily attributable to an increase in gross profit of $77,498, a decrease in operating expenses of $1.6 million, an increase in other income of $0.1 million, and an increase in net income attributable to the Company from discontinued operations of $0.5 million, partially offset by income tax expense of $127 and an increase in net income attributable to non-controlling interests from continuing operations of $2,909.
Basic and Diluted Net Loss per Common Share
Basic and diluted net loss per common share were $0.54 for the first half of fiscal year 2026, compared to $96.15 for the same period last year.
Financial Condition
As of June 30, 2026, the Company had cash of $1.2 million, compared to $0.6 million as of December 31, 2025.
Net cash used in operating activities for the first half of fiscal year 2026 was $0.2 million, compared to $6.4 million for the same period last year.
Net cash used in investing activities for the first half of fiscal year 2026 was $4.6 million, compared to $2.3 million for the same period last year.
Net cash provided by financing activities for the first half of fiscal year 2026 was $3.8 million, compared to $7.9 million for the same period last year.
About Baiya International Group Inc.
Baiya International Group Inc. is an HR technology company operating an intelligent SaaS enabled new economy human capital platform focused on the full lifecycle management of freelance talent. Through its online intelligent matching system, Baiya provides precise matching services between enterprise clients and freelancers, along with standardized management tools and workflows. Its business spans multiple vertical sectors, including gaming and esports, online education, home appliance repair, and content e-commerce. For more information, please visit the Company's website: https://www.baiyainc.com/investors-overview.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. As a foreign private issuer, the Company may rely on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 to the extent applicable to its forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements concerning the Company's plans, growth initiatives, objectives, goals, strategies, future events or expected performance, and underlying assumptions. In some cases, forward-looking statements can be identified by terminology such as "may, " "will," "should," "expect," "plan," "anticipate," "believe," "estimate, " "predict," "potential," "intend," "seek," "aim" or "continue," or the negative of these terms or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements relating to: the Company's ability to continue as a going concern and management's plans to increase revenue and secure additional financing; expectations regarding the Company's digital asset holdings, including the fair value and potential volatility of such holdings; the anticipated collection of receivables; the Company's plans to further develop its intelligent SaaS-enabled new-economy human capital platform; the effect of PRC government regulations, foreign exchange controls and tax policies on the Company's business and results of operations; and the Company's ability to execute its business and strategic initiatives. These forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially, including, but not limited to: substantial doubt about the Company's ability to continue as a going concern; significant price volatility, regulatory uncertainty and custodial risks associated with the Company's digital asset holdings; risks associated with operating in the PRC, including changes in laws and regulations, currency exchange rate fluctuations and restrictions on convertibility of the Renminbi; concentration of revenue among a limited number of customers and reliance on a single reportable segment; the Company's ability to maintain its listing on the Nasdaq Capital
Market; risks related to the Company's liquidity and capital resources, repayment of loan receivables from third parties, and remediation of material weaknesses in internal control over financial reporting; and other risks and uncertainties described in the Company's Annual Report on Form 20-F for the year ended December 31, 2025, as filed with the U.S. Securities and Exchange Commission (the "SEC") on April 23, 2026. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please contact:
Baiya International Group Inc.
Investor Relations Department
Phone: +1-646-916-0575
Email: ir@biyainc.com
Investor Relations Inquiries:
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
BAIYA INTERNATIONAL GROUP INC.
CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars, except for the number of shares)
As of As of
June 30, December 31,
2026 2025
(Unaudited) (Audited)*
------------- -------------
ASSETS
CURRENT ASSETS
Cash $ 1,181,159 $ 583,926
Accounts receivable, net 29,479 17,160
Due from related parties 987,230 389,130
Digital assets 3,708,612 -
Prepaid expenses and other current
assets 3,392,710 4,480,810
Receivable from disposal of
subsidiaries 577,432 -
Loan receivable from third parties,
current 18,794,286 16,996,022
------------ ------------
Total current assets 28,670,908 22,467,048
NON-CURRENT ASSETS
Property and equipment, net 10,692 5,117
Receivable from disposal of
subsidiaries-Non current 1,058,504
------------ ------------
Total noncurrent assets 1,069,196 5,117
Assets from discontinued operations - 5,359,383
------------ ------------
TOTAL ASSETS $ 29,740,104 $ 27,831,548
============ ============
LIABILITIES AND STOCKHOLDERS'
EQUITY
CURRENT LIABILITIES
Accounts payable $ 38,708 500
Loan payable to third parties - -
Advance from customers - -
Accrued liabilities and other
payables 2,210,298 617,944
Taxes payable 35,439 4,594
Due to related parties 800 800
Lease liabilities - -
Loan payables, current - -
------------ ------------
Total current liabilities 2,285,245 623,838
Liabilities from discontinued
operations - 4,139,167
------------ ------------
TOTAL LIABILITIES 2,285,245 4,763,005
COMMITMENTS AND CONTINGENCIES
STOCKHOLDER'S EQUITY
Preferred shares, par value $0.025,
100,000,000 shares authorized, nil
shares issued and outstanding as of
June 30, 2026 and December 31, 2025
, respectively - -
Class A Common shares, par value
$0.025, 160,000,000 shares
authorized, 2,746,211 and 118,584
shares issued and outstanding as of
June 30, 2026 and December 31,
2025, respectively 68,655 2,964
Class B Common shares, par value
$0.0001, 100,000,000 shares
authorized, 3,600,000 and 3,600,000
shares issued and outstanding as of
June 30, 2026 and December 31,
2025, respectively 360 360
Additional paid-in capital 45,330,367 33,706,703
Subscription receivable (4,814,678) -
Statutory Reserve 558,727 458,832
Accumulated other comprehensive loss (93,097) (147,070)
Accumulated deficit (13,599,360) (11,066,628)
------------ ------------
-
Total Company shareholders' equity 27,450,974 22,955,161
-
Non-controlling interest 3,885 113,382
------------ ------------
-
Total shareholders' equity 27,454,859 23,068,543
-
------------ ------------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY $ 29,740,104 $ 27,831,548
============ ============
* Certain prior-period amounts have been reclassified for discontinued
operations presentation.
BAIYA INTERNATIONAL GROUP INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Expressed in U.S. Dollars, except for the number of shares)
(UNAUDITED)
For the Six Months Ended June 30,
--------------------------------------------------------
2026 Include
discontinued Discontinued
operations operations 2026 2025
------------ -------------- ------------ ------------
Net revenues $ 2,705,486 $ 1,948,681 $ 756,805 $ -
Cost of revenues 2,260,877 1,581,570 679,307 -
----------- ---------- ----------- -----------
Gross profit 444,609 367,111 77,498 -
Operating
expenses
Selling expenses 483,795 127,258 356,537 327,891
General and
administrative
expenses 3,285,426 121,356 3,164,070 4,817,512
----------- ---------- ----------- -----------
Total operating
expenses 3,945,636 425,029 3,520,607 5,145,403
----------- ---------- ----------- -----------
Loss from
operations (3,501,027) (57,918) (3,443,109) (5,145,403)
Other income
(expenses)
Interest income 25,653 6,287 19,366 142
Other income 165,517 82,187 83,330 3,638
----------- ---------- ----------- -----------
Total other
income 1,075,531 972,835 102,696 3,780
----------- ---------- ----------- -----------
Loss before
income tax (2,425,496) 914,917 (3,340,413) (5,141,623)
Less: income tax
expense 2,746 2,619 127 -
----------- ---------- ----------- -----------
Net loss from
continuing
operation (3,340,540) (5,141,623)
Net income from
discontinued
operations 912,298 912,298 405,921
----------- ---------- ----------- -----------
Net loss (2,428,242) (2,428,242) (4,735,702)
Less: net income
attributable to
non-controlling
interests from
continuing
operation 4,595 1,686 2,909 -
Less: net income
attributable to
non-controlling
interests from
discontinued
operation 1,686 1,686 21,576
----------- ---------- ----------- -----------
Net loss
attributable to
the Company from
continuing
operation (3,343,449) (5,141,623)
Net income
attributable to
the Company from
discontinued
operation 910,612 910,612 384,345
----------- ---------- ----------- -----------
Net loss
attributable to
common
shareholders of
Baiya
International
Group Inc. $(2,432,837) $(2,432,837) (4,757,278)
=========== ========== =========== ===========
Comprehensive
income (loss)
Other
comprehensive
income
Foreign currency
translation gain
attributable to
the Company 53,973 53,973 17,504
----------- ---------- ----------- -----------
Foreign currency
translation gain
attributable to
noncontrolling
interest 3,484 2,535 949 4,646
----------- ---------- ----------- -----------
Total other
comprehensive
income 57,457 2,535 54,922 22,150
----------- ---------- ----------- -----------
Comprehensive
loss
attributable to
common
shareholders of
Baiya
International
Group Inc. (2,378,864) - (2,378,864) (4,739,774)
Comprehensive
income
attributable to
noncontrolling
interest 8,079 8,079 26,222
Total
comprehensive
loss $(2,370,785) $ - $(2,370,785) $(4,713,552)
=========== ========== =========== ===========
Net loss per
common share
Basic and diluted
* $ (0.54) $ (0.54) $ (96.15)
=========== ========== =========== ===========
Weighted average
number of common
shares
outstanding
Basic and diluted
* 4,535,080 4,535,080 49,475
=========== ========== =========== ===========
* retroactively reflect 1-for-25 reverse stock split effective on December
29, 2025 and 1-for-10 reverse stock split effective on July 10, 2026
BAIYA INTERNATIONAL GROUP INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars, except for the number of shares)
(UNAUDITED)
For the Six Months
Ended June 30,
--------------------------
2026 2025
------------ ------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(2,428,242) $(4,735,702)
----------- -----------
Net income from discontinued
operations 912,298 405,921
Net loss from continuing operations (3,340,540) (5,141,623)
Adjustments to reconcile net loss to
net cash provided by (used in)
operating activities:
Depreciation expense 756 -
Unrealized loss on digital assets 292,717 -
Stock compensation expense 1,191,281 1,736,736
Changes in operating assets and
liabilities:
Increase in accounts receivable, net (11,656) -
Decrease in advance to suppliers, net 811,679 -
Increase in prepaid expenses and other
current assets (3,202) (3,171,083)
Increase (Decrease) in accounts
payable 37,767 (300)
Increase (Decrease) in accrued
liabilities and other payables 6,917 4,940
Increase in taxes payable 30,424 -
----------- -----------
Net cash used in operating activities
from continuing operations (983,857) (6,571,330)
Net cash provided by operating
activities from discontinued
operations 799,040 185,753
----------- -----------
Net cash used in operating activities 184,817 (6,385,577)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets (6,330) -
Purchase of digital assets (3,599,441) -
Gains from sale of digital assets 81,730 -
Cash received from sale of subsidiary 199,826 -
Cash disposed as a result of disposal
of subsidiaries (932,492)
Loan to related parties (575,249) (550,695)
Repayment of loan to third party 200,000 -
----------- -----------
Net cash used in investing activities
from continuing operations (4,631,956) (550,695)
Net cash provided by (used in)
investing activities from
discontinued operations 1,020 (1,704,691)
----------- -----------
Net cash used in investing activities (4,630,936) (2,255,386)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from issuance of common
stock 4,058,212 7,995,267
----------- -----------
Net cash provided by financing
activities from continuing
operations 4,058,212 7,995,267
Net cash used in financing activities
from discontinued operations (221,046) (124,302)
----------- -----------
Net cash provided by financing
activities 3,837,166 7,870,965
EFFECT OF EXCHANGE RATE CHANGES ON
CASH 40,805 11,406
----------- -----------
NET DECREASE IN CASH (937,782) (758,592)
CASH, BEGINNING OF PERIOD (INCLUDED $
1,535,015 and $1,668,069 FROM
DISCONTINUED OPERATIONS) 2,118,941 1,668,291
----------- -----------
CASH, END OF PERIOD $ 1,181,159 $ 909,699
=========== ===========
-
ANALYSIS OF BALANCES OF CASH AND CASH
EQUIVALENTS:
Cash and equivalents $ 1,181,159 $ 873,464
=========== ===========
Cash and equivalents included in
discontinued operations $ - $ 36,235
=========== ===========
Supplemental disclosure information
of cash flow:
Cash paid for income tax $ - $ -
=========== ===========
Cash paid for interest $ 688 $ 33,679
=========== ===========
Supplemental non-cash information:
Right of use assets obtained in
exchange for operating lease
liability $ - $ 71,398
=========== ===========
Issuance of common stock in exchange
for digital assets (USDT) $ 1,404,563 $ -
=========== ===========
Issuance of common stock in exchange
for subscription receivable $ 4,814,678 $ -
=========== ===========
Investor deposit received $ 1,585,437 $ -
Loan receivable to third party funded
through transfer of digital assets
(USDT) $ 1,998,264 $ -
=========== ===========
View original content:https://www.prnewswire.com/news-releases/baiya-international-group-inc-announces-first-half-of-fiscal-year-2026-financial-results-302893401.html
SOURCE Baiya International Group Inc.