Baiya International Group Inc. Announces First Half of Fiscal Year 2026 Financial Results

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

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.

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.

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.

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: [email protected]

Investor Relations Inquiries:

Ascent Investor Relations LLC

Tina Xiao

Phone: +1-646-932-7242

Email: [email protected]

BAIYA INTERNATIONAL GROUP INC.

CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. Dollars, except for the number of shares)

As of

June 30,

2026

(Unaudited)

As of

December 31,

2025

(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

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

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

operations

Discontinued

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

405,921

Net loss

(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

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

384,345

Net loss attributable to common shareholders of Baiya

International Group Inc.

(2,432,837)

(4,757,278)

Comprehensive income (loss)

Other comprehensive income

Foreign currency translation gain attributable to the

Company

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)

(4,739,774)

Comprehensive income attributable to noncontrolling

interest

8,079

26,222

Total comprehensive loss

(2,370,785)

(4,713,552)

Net loss per common share

Basic and diluted *

(0.54)

(96.15)

Weighted average number of common shares outstanding

Basic and diluted *

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

SOURCE Baiya International Group Inc.