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BIYA

Baiya International GroupF
Nasdaq / Commercial & Professional Services
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2026-05-01
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Earnings documents stored for BIYA.

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Investor releaseQuarter not tagged2026-05-01

Baiya International Group Inc. Announces Fiscal Year 2025 Financial Results

PR Newswire
SHENZHEN, China, April 30, 2026 /PRNewswire/ -- Baiya International Group Inc. ("Baiya" or the "Company") (Nasdaq: BIYA), a human resource ("HR") technology company utilizing its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions, today announced its financial results for the fiscal year ended December 31, 2025. Ms. Siyu Yang, Chief Executive Officer of Baiya, commented, "We are pleased to report strong revenue growth for fiscal year 2025, with net revenues increasing by 28.6% to $16.5 million. This performance was driven by continued expansion in our core project outsourcing services, which increased by 9.4%, and exceptional growth in entrusted recruitment services, which increased by 2,515.2%. We also benefited from contributions from new customers and newly introduced services, while further strengthening our presence in the logistics and express delivery sectors. Gross profit grew by 35.1% to $1.9 million, reflecting increased contributions across our service lines, while we increased spending on business expansion and corporate-related initiatives." Ms. Yang continued, "As we move forward, we intend to continue to refine our service capabilities and deepen our presence in high-growth sectors such as logistics and express delivery, while advancing our platform-driven approach to better capture opportunities in the evolving employment landscape. In parallel, we are expanding our strategic horizon through new initiatives which reflect our efforts to build a more dynamic and structured capital framework. We believe these initiatives, together with our growing client base and disciplined execution, will position us well to drive sustainable growth and deliver long-term value to our shareholders." Fiscal Year 2025 Financial Summary Net revenues were $16.5 million in fiscal year 2025, an increase of 28.6% from $12.8 million in fiscal year 2024. Gross profit was $1.9 million in fiscal year 2025, an increase of 35.1% from $1.4 million in fiscal year 2024. Net loss attributable to Baiya was $9.5 million in fiscal year 2025, compared to $8,750 in fiscal year 2024. Basic and diluted net loss per common share were $5.04 in fiscal year 2025, compared to $0.02 in fiscal year 2024. Fiscal Year 2025 Financial Results Net Revenues Net revenues were $16.5 million in fiscal year 2025, an increase of 28.6% from $12.8 mi…Read full document

SHENZHEN, China, April 30, 2026 /PRNewswire/ -- Baiya International Group Inc. ("Baiya" or the "Company") (Nasdaq: BIYA), a human resource ("HR") technology company utilizing its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions, today announced its financial results for the fiscal year ended December 31, 2025. Ms. Siyu Yang, Chief Executive Officer of Baiya, commented, "We are pleased to report strong revenue growth for fiscal year 2025, with net revenues increasing by 28.6% to $16.5 million. This performance was driven by continued expansion in our core project outsourcing services, which increased by 9.4%, and exceptional growth in entrusted recruitment services, which increased by 2,515.2%. We also benefited from contributions from new customers and newly introduced services, while further strengthening our presence in the logistics and express delivery sectors. Gross profit grew by 35.1% to $1.9 million, reflecting increased contributions across our service lines, while we increased spending on business expansion and corporate-related initiatives." Ms. Yang continued, "As we move forward, we intend to continue to refine our service capabilities and deepen our presence in high-growth sectors such as logistics and express delivery, while advancing our platform-driven approach to better capture opportunities in the evolving employment landscape. In parallel, we are expanding our strategic horizon through new initiatives which reflect our efforts to build a more dynamic and structured capital framework. We believe these initiatives, together with our growing client base and disciplined execution, will position us well to drive sustainable growth and deliver long-term value to our shareholders." Fiscal Year 2025 Financial Summary Net revenues were $16.5 million in fiscal year 2025, an increase of 28.6% from $12.8 million in fiscal year 2024. Gross profit was $1.9 million in fiscal year 2025, an increase of 35.1% from $1.4 million in fiscal year 2024. Net loss attributable to Baiya was $9.5 million in fiscal year 2025, compared to $8,750 in fiscal year 2024. Basic and diluted net loss per common share were $5.04 in fiscal year 2025, compared to $0.02 in fiscal year 2024. Fiscal Year 2025 Financial Results Net Revenues Net revenues were $16.5 million in fiscal year 2025, an increase of 28.6% from $12.8 million in fiscal year 2024. Revenue from entrusted recruitment service was $1.1 million in fiscal year 2025, an increase of 2,515.2% from $0.04 million in fiscal year 2024. The increase was primarily driven by growth in entrusted recruitment service revenue from new customers, including a $0.3 million contribution from Dongguan Santong Human Resources Management Co., Ltd., $0.2 million from Dongguan Great Wall Development Technology Co., Ltd., $0.2 million from Gansu Detian Human Resources Co., Ltd., $0.2 million from Suzhou Tengyu Outsourcing Services Co., Ltd. and $0.2 million from Dongguan Zhaofeng Human Resources Co., Ltd. Revenue from project outsourcing service was $14.0 million in fiscal year 2025, an increase of 9.4% from $12.8 million in fiscal year 2024. The increase was primarily due to the outsourcing revenues from the Company's major customers, $0.7 million increased from Songjia Precision Technology (Dongguan) Co., Ltd. $0.6 million increased from China Postal Express & Logistics Co., Ltd — Sihui City Branch, $0.2 million increase from Guangdong Dingsheng Human Resources Co., Ltd and $1.8 million increase from Zhaoqing Runzhongyi Logistics Services Co., Ltd., which was partly offset by $1.6 million decreased from Zhongshan Branch of China Postal Group Limited and $0.4 million decrease from Dongguan Jiefeng Information Technology Co., Ltd. Revenue from research and development technical services was $1.4 million in fiscal year 2025. The Company did not generate any revenue from research and development technical services in fiscal year 2024. Revenue from other services was $0.1 million in fiscal year 2025, an increase of 1,706.2% from $3,050 in fiscal year 2024. During fiscal year 2025, the revenue generated from other services mainly represents consulting services revenue of $55,089. Cost of Revenues Total cost of revenue was $14.6 million in fiscal year 2025, an increase of 27.8% from $11.4 million in fiscal year 2024. Gross Profit Gross profit was $1.9 million in fiscal year 2025, an increase of 35.1% from $1.4 million in fiscal year 2024. The increase was mainly due to the $0.3 million increase in gross profit from project outsourcing service, $69,693 increase in gross profit from entrusted recruitment service, $64,301 increase in gross profit from research and development technical services and $26,860 increase in gross profit from other services. Operating Expenses Total operating expenses were $11.5 million in fiscal year 2025, an increase of 754.6% from $1.3 million in fiscal year 2024. The change was mainly due to an increase of $9.4 million in general and administrative expenses and an increase of $0.8 million in selling expenses, which were partly offset by a decrease of $11,088 in research and development expenses. Selling expenses were $1.0 million in fiscal year 2025, an increase of 364.2% from $0.2 million in fiscal year 2024. The increase was primarily due to the $0.7 million increase in advertising and promotion expense and $0.1 million increase in meal and entertainment expense. General and administrative expenses were $10.3 million in fiscal year 2025, an increase of 1,051.9% from $0.9 million in fiscal year 2024. The increase in general and administrative expenses were mainly due to increased stock compensation expenses by $4.3 million, increased consulting and professional service fees by $4.7 million, increased payroll expense by $0.3 million and increased other expenses by $0.1 million. Research and development expenses were $0.23 million in fiscal year 2025, a decrease of 4.7% from $0.24 million in fiscal year 2024. Net Loss Attributable to Baiya Net loss attributable to Baiya was $9.5 million in fiscal year 2025, compared to $8,750 in fiscal year 2024. The increase in net loss in 2025 mainly resulted from increased operating expenses by $10.1 million, which was partly offset by increased other income by $0.1 million and increased gross profit by $0.5 million in fiscal year 2025. Basic and Diluted Net Loss per Common Share Basic and diluted net loss per common share were $5.04 in fiscal year 2025, compared to $0.02 in fiscal year 2024. Financial Condition As of December 31, 2025, the Company had cash of $0.7 million, compared to $1.7 million as of December 31, 2024. Net cash used in operating activities in fiscal year 2025 was $7.4 million, compared to net cash provided by operating activities of $1.6 million in fiscal year 2024. Net cash used in investing activities in fiscal year 2025 was $17.2 million, primarily reflected short-term loans extended to third parties in December 2025 which were non-interest-bearing for the first six months of their term and are subject to supplemental agreements and repayment plans entered into in April 2026, as further described in the Company's Annual Report on Form 20-F. The Company did not generate any cash flows in investing activities in fiscal year 2024. Net cash provided by financing activities in fiscal year 2025 was $25.0 million, compared to $0.08 million in fiscal year 2024. About Baiya International Group Inc. Baiya has evolved from a job matching service provider into a cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions on the Gongwuyuan Platform to supplement its offline job matching services and started to position itself as a SaaS-enabled HR technology company by introducing its Gongwuyuan Platform in the flexible employment marketplace. Baiya has been and will continue to strategically develop and improve the Gongwuyuan Platform with product features that work together with its traditional offline service model to improve the job matching and HR related services in the flexible employment marketplace. For more information, please visit the Company's website: https://www.baiyainc.com/investors-overview. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this press release are "forward-looking statements" as defined under the federal securities laws, including, but not limited to, statements concerning plans, growth initiatives, objectives, goals, strategies, future events or expected performance, and underlying assumptions and other statements that are other than statements of historical facts. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including, without limitation, risks related to the Company's operations in China, its contractual arrangements with its variable interest entity, evolving regulatory developments, liquidity and capital resources, repayment of loan receivables from third parties, remediation of material weaknesses in internal control over financial reporting, and the Company's ability to execute its business and strategic initiatives. Forward-looking statements can be identified by terms such as "believe", "plan", "expect", "intend", "should", "seek", "estimate", "will", "aim" and "anticipate", or other similar expressions in this press release. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to carefully review the Company's annual report on Form 20-F, including the section captioned "Item 3.D. Risk Factors" and the Company's other filings with the United States Securities and Exchange Commission ("SEC"). For further information, please contact: Baiya International Group Inc. Investor Relations Department Phone: +86 0769-88785888 Email: [email protected] Investor Relations Inquiries: Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: [email protected] View original content:https://www.prnewswire.com/news-releases/baiya-international-group-inc-announces-fiscal-year-2025-financial-results-302759205.html

Investor releaseQuarter not tagged2025-09-30

Baiya International Group Inc. Announces First Half of Fiscal Year 2025 Financial Results

PR Newswire
SHENZHEN, China, Sept. 30, 2025 /PRNewswire/ -- Baiya International Group Inc. ("BIYA" or the "Company") (Nasdaq: BIYA), a human resource ("HR") technology company utilizing its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions, today announced its unaudited financial results for the first half of fiscal year 2025 ended June 30, 2025. Ms. Siyu Yang, Chief Executive Officer of BIYA, commented, "We are pleased to report a 6.9% increase in net revenues for the first half of fiscal year 2025, reaching $7.3 million. Gross profit grew by 49.2% to $0.7 million, and gross margin expanded to 10.0% from 7.2% in the same period last year. This growth was supported by the strong rebound of entrusted recruitment services, which benefited from China's gradually recovering labor market, as well as contributions from project outsourcing services with our major customers in the logistics and express delivery sectors." Ms. Yang continued, "In line with our long-term strategy, we will continue to enhance the Gongwuyuan Platform to strengthen our SaaS-enabled HR technology solutions and better serve the flexible employment marketplace. At the same time, we are broadening our growth trajectory through strategic initiatives such as our proposed acquisition of STARFISH TECHNOLOGY-FZE and the integration of its UpTop.Meme platform, which could position BIYA to participate in the global wave of digital finance and innovation. Looking ahead, we will remain focused on deepening client relationships, advancing platform development, and exploring new growth opportunities, with the goal of delivering value to our shareholders." First Half of Fiscal Year 2025 Financial Summary Net revenues were $7.3 million for the first half of fiscal year 2025, an increase of 6.9% from $6.8 million for the same period last year. Gross profit was $0.7 million for the first half of fiscal year 2025, an increase of 49.2% from $0.5 million for the same period last year. Gross margin was 10.0% for the first half of fiscal year 2025, increased from 7.2% for the same period last year. Net loss was $4.7 million for the first half of fiscal year 2025, compared to $0.06 million for the same period last year. Basic and diluted net loss per common share were $0.385 for the first half of fiscal year 2025, compared to $0.006 for the same period last year. First…Read full document

SHENZHEN, China, Sept. 30, 2025 /PRNewswire/ -- Baiya International Group Inc. ("BIYA" or the "Company") (Nasdaq: BIYA), a human resource ("HR") technology company utilizing its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions, today announced its unaudited financial results for the first half of fiscal year 2025 ended June 30, 2025. Ms. Siyu Yang, Chief Executive Officer of BIYA, commented, "We are pleased to report a 6.9% increase in net revenues for the first half of fiscal year 2025, reaching $7.3 million. Gross profit grew by 49.2% to $0.7 million, and gross margin expanded to 10.0% from 7.2% in the same period last year. This growth was supported by the strong rebound of entrusted recruitment services, which benefited from China's gradually recovering labor market, as well as contributions from project outsourcing services with our major customers in the logistics and express delivery sectors." Ms. Yang continued, "In line with our long-term strategy, we will continue to enhance the Gongwuyuan Platform to strengthen our SaaS-enabled HR technology solutions and better serve the flexible employment marketplace. At the same time, we are broadening our growth trajectory through strategic initiatives such as our proposed acquisition of STARFISH TECHNOLOGY-FZE and the integration of its UpTop.Meme platform, which could position BIYA to participate in the global wave of digital finance and innovation. Looking ahead, we will remain focused on deepening client relationships, advancing platform development, and exploring new growth opportunities, with the goal of delivering value to our shareholders." First Half of Fiscal Year 2025 Financial Summary Net revenues were $7.3 million for the first half of fiscal year 2025, an increase of 6.9% from $6.8 million for the same period last year. Gross profit was $0.7 million for the first half of fiscal year 2025, an increase of 49.2% from $0.5 million for the same period last year. Gross margin was 10.0% for the first half of fiscal year 2025, increased from 7.2% for the same period last year. Net loss was $4.7 million for the first half of fiscal year 2025, compared to $0.06 million for the same period last year. Basic and diluted net loss per common share were $0.385 for the first half of fiscal year 2025, compared to $0.006 for the same period last year. First Half of Fiscal Year 2025 Financial Results Net Revenues Net revenues were $7.3 million for the first half of fiscal year 2025, an increase of 6.9% from $6.8 million for the same period last year. Revenue from entrusted recruitment service was $0.4 million for the first half of fiscal year 2025, an increase of 833.5% from $0.04 million for the same period last year. The increase was primarily attributed to China's economy's gradually recovery, and accordingly, the Company's entrusted recruitment services started to gradually bounce back due to increased labor demand. Revenue from project outsourcing service was $6.9 million for the first half of fiscal year 2025, an increase of 2.2% from $6.8 million for the same period last year. The increase was primarily due to the outsourcing revenues from the Company's major customers, $0.8 million increase from Zhaoqing Branch of China Postal Group Limited, $0.2 million increased from Songjia Precision Technology (Dongguan) Co., Ltd. and $0.2 million increased from China Postal Express & Logistics Co., Ltd., which was partly offset by $1.0 million decreased from Zhongshan Branch of China Postal Group Limited. The Company did not generate revenue from other services for the first half of fiscal year 2025. Revenue from other services was $2,089 for the same period last year. Cost of Revenues Total cost of revenue was $6.5 million for the first half of fiscal year 2025, an increase of 3.7% from $6.3 million for the same period last year. Gross Profit and Gross Margin Gross profit was $0.7 million for the first half of fiscal year 2025, an increase of 49.2% from $0.5 million for the same period last year. The increase was mainly due to the $0.2 million increase in gross profit from project outsourcing service and $80,009 increase in gross profit from entrusted recruitment service, which was partly offset by the $1,884 decrease in gross profit from other services. Gross margin was 10.0% for the first half of fiscal year 2025, increased from 7.2% for the same period last year. Operating Expenses Total operating expenses were $5.5 million for the first half of fiscal year 2025, an increase of 985.0% from $0.5 million for the same period last year. The change was mainly due to an increase of $4.7 million in general and administrative expenses and an increase of $325,755 in selling expenses, which were partly offset by a decrease of $64,728 in research and development expenses. Selling expenses were $360,797 for the first half of fiscal year 2025, an increase of 929.6% from $35,042 for the same period last year. The increase was primarily due to the $260,533 increase in advertising and promotion expense and $67,690 increase in meal and entertainment expense, which was partly offset by $4,344 decrease in travel expenses. General and administrative expenses were $5.0 million for the first half of fiscal year 2025, an increase of 1,433.4% from $0.3 million for the same period last year. The increase was mainly due to increased professional fee by $1.9 million, increased telecom service expense by $0.2 million, increased HR service fee by $0.1 million, increased stock compensation expenses by $1.7 million, increased legal expenses by $0.5 million increased audit fee by $0.1 million, increased travel expense by $0.1 million and increased payroll expense by $14,455. Research and development expenses were $0.08 million for the first half of fiscal year 2025, a decrease of 46.1% from $0.1 million for the same period last year. Net Loss Net loss was $4.7 million for the first half of fiscal year 2025, compared to $0.06 million for the same period last year. The increase mainly resulted from increased operating expenses by $4.9 million, which was partly offset by decreased other expenses by $42,811 and increased gross profit by $0.2 million for the first half of fiscal year 2025. Basic and Diluted Net Loss per Common Share Basic and diluted net loss per common share were $0.385 for the first half of fiscal year 2025, compared to $0.006 for the same period last year. Financial Condition As of June 30, 2025, the Company had cash of $0.9 million, compared to $1.7 million as of December 31, 2024. Net cash used in operating activities for the first half of fiscal year 2025 was $6.4 million, compared to net cash provided by operating activities of $0.1 million for the same period last year. Net cash used in investing activities for the first half of fiscal year 2025 was $0.3 million. There were no cash outflows from investing activities for the same period last year. Net cash provided by financing activities for the first half of fiscal year 2025 was $6.0 million, compared to $1.2 million for the same period last year. About Baiya International Group Inc. ("Baiya") Baiya has evolved from a job matching service provider into a cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions on the Gongwuyuan Platform to supplement its offline job matching services and started to position itself as a SaaS-enabled HR technology company by introducing its Gongwuyuan Platform in the flexible employment marketplace. Baiya has been and will continue to strategically develop and improve the Gongwuyuan Platform with product features that work together with its traditional offline service model to improve the job matching and HR related services in the flexible employment marketplace. For more information, please visit the Company's website: https://www.baiyainc.com/investors-overview. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this announcement are "forward-looking statements" as defined under the federal securities laws, including, but not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Forward-looking statements can be identified by terms such as "believe", "plan", "expect", "intend", "should", "seek", "estimate", "will", "aim" and "anticipate", or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the United States Securities and Exchange Commission ("SEC"). For further information, please contact: Baiya International Group Inc. Investor Relations Department Phone: +86 0769-88785888 Email: [email protected] Investor Relations Inquiries: Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: [email protected] View original content:https://www.prnewswire.com/news-releases/baiya-international-group-inc-announces-first-half-of-fiscal-year-2025-financial-results-302570248.html

Investor releaseQuarter not tagged2025-05-14

Baiya International Group Inc. Announces Fiscal Year 2024 Financial Results

PR Newswire
SHENZHEN, China, May 13, 2025 /PRNewswire/ -- Baiya International Group Inc. ("BIYA" or the "Company") (Nasdaq: BIYA), a human resource ("HR") technology company utilizing its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions, today announced its financial results for the fiscal year ended December 31, 2024. Ms. Siyu Yang, Chief Executive Officer of BIYA, commented, "We are pleased to report a resilient performance for fiscal year 2024, reflecting our determined efforts to navigate China's evolving recruitment market. We achieved a remarkable revenue growth of 10.7% despite slow economic recovery and labor market adjustments, driven by our flexible business strategy with a focus on project outsourcing services. As we see expansion opportunities in the rapidly growing logistics and express delivery sectors, we have been examining postal business tender documents, leading to our successful cooperation with new major customers such as Zhaoqing Branch of China Postal Group Limited. As a result of active business expansion among postal companies, revenue from project outsourcing increased by 26.6%, accounting for 99.7% of our total revenue." Ms. Yang continued, "Our gross profit grew by 75.4%, underscoring the effectiveness and resilience of our strategic initiatives. At the same time, we took active steps to reduce operating expenses while increasing investment in sales efforts. These measures significantly improved our financial performance, turning a net loss into a positive net income for fiscal year 2024. With such proactive strategies, we believe that we are now better positioned to explore high-margin subsectors that can support a sustainable growth trajectory. Looking ahead, we remain committed to our core strategy while remaining alert to new opportunities as China's economy gradually recovers. We plan to continue to improve the Gongwuyuan Platform to deliver high-quality job matching and HR related services in the flexible employment marketplace. We are confident that our resilient approach, combined with strong client relationship management, will continue to support our long-term growth and deliver value to our shareholders." Fiscal Year 2024 Financial Highlights Net revenues were $12.8 million in fiscal year 2024, an increase of 10.7% from $11.6 million in fiscal year 2023. Gross profit was…Read full document

SHENZHEN, China, May 13, 2025 /PRNewswire/ -- Baiya International Group Inc. ("BIYA" or the "Company") (Nasdaq: BIYA), a human resource ("HR") technology company utilizing its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions, today announced its financial results for the fiscal year ended December 31, 2024. Ms. Siyu Yang, Chief Executive Officer of BIYA, commented, "We are pleased to report a resilient performance for fiscal year 2024, reflecting our determined efforts to navigate China's evolving recruitment market. We achieved a remarkable revenue growth of 10.7% despite slow economic recovery and labor market adjustments, driven by our flexible business strategy with a focus on project outsourcing services. As we see expansion opportunities in the rapidly growing logistics and express delivery sectors, we have been examining postal business tender documents, leading to our successful cooperation with new major customers such as Zhaoqing Branch of China Postal Group Limited. As a result of active business expansion among postal companies, revenue from project outsourcing increased by 26.6%, accounting for 99.7% of our total revenue." Ms. Yang continued, "Our gross profit grew by 75.4%, underscoring the effectiveness and resilience of our strategic initiatives. At the same time, we took active steps to reduce operating expenses while increasing investment in sales efforts. These measures significantly improved our financial performance, turning a net loss into a positive net income for fiscal year 2024. With such proactive strategies, we believe that we are now better positioned to explore high-margin subsectors that can support a sustainable growth trajectory. Looking ahead, we remain committed to our core strategy while remaining alert to new opportunities as China's economy gradually recovers. We plan to continue to improve the Gongwuyuan Platform to deliver high-quality job matching and HR related services in the flexible employment marketplace. We are confident that our resilient approach, combined with strong client relationship management, will continue to support our long-term growth and deliver value to our shareholders." Fiscal Year 2024 Financial Highlights Net revenues were $12.8 million in fiscal year 2024, an increase of 10.7% from $11.6 million in fiscal year 2023. Gross profit was $1.4 million in fiscal year 2024, an increase of 75.4% from $0.8 million in fiscal year 2023. Net income was $6,687 in fiscal year 2024, compared to net loss of $1.1 million in fiscal year 2023. Basic and diluted net income per common share were $0.00 in fiscal year 2024, compared to basic and diluted loss per common share of $0.10 in fiscal year 2023. Fiscal Year 2024 Financial Results Net Revenues Net revenues were $12.8 million in fiscal year 2024, an increase of 10.7% from $11.6 million in fiscal year 2023. Revenue from entrusted recruitment service was $0.04 million in fiscal year 2024, a decrease of 97.2% from $1.5 million in fiscal year 2023. The decrease was primarily attributed to the delayed effects of China's stringent preventive measures against the COVID-19 pandemic, which have increased the challenges of economic recovery. Revenue from project outsourcing service was $12.8 million in fiscal year 2024, an increase of 26.6% from $10.1 million in fiscal year 2023. The increase was primarily due to the outsourcing revenues from the Company's major customers, $3.2 million increase from Zhaoqing Branch of China Postal Group Limited, $1.3 million increase from Guangdong Yingwang Industrial Investment Limited ("Yingwang"), and $0.7 million increased from Zhongshan Branch of China Postal Express & Logistics Co., Ltd, which was partly offset by $0.5 million decreased from Zhongshan Branch of China Postal Group limited and $2.0 million decreased revenue from Nanchang Jiesite Cleaning and Environmental Protection Limited ("Jiesite"). Revenue from other services was $3,050 in fiscal year 2024, an increase of 155.6% from $1,193 in fiscal year 2023. During fiscal year 2024, the revenue generated from other services mainly represents software revenue of $3,050. During fiscal year 2023, the revenue generated from other services mainly represents software revenue of $1,193. In November 2019, Gongwuyuan launched enterprise version of its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions on the Gongwuyuan Platform to supplement its offline services. Cost of Revenues Total cost of revenue was $11.4 million in fiscal year 2024, an increase of 5.8% from $10.8 million in fiscal year 2023. Gross Profit Gross profit was $1.4 million in fiscal year 2024, an increase of 75.4% from $0.8 million in fiscal year 2023. The increase was mainly due to the $0.7 million increase in gross profit from project outsourcing service, which was partly offset by the $0.1 million decrease in gross profit from entrusted recruitment service. Operating Expenses Total operating expenses were $1.3 million in fiscal year 2024, a decrease of 11.7% from $1.5 million in fiscal year 2023. The change was mainly due to a decrease of $0.2 million in general and administrative expenses and a decrease of $62,369 in research and development expenses, which were partly offset by an increase of $87,458 in selling expenses. Selling expenses were $0.2 million in fiscal year 2024, an increase of 68.8% from $0.1 million in fiscal year 2023. The increase was primarily due to the $0.1 million increase in bidding service fee, which was offset by the $21,807 decrease in commission expenses and $13,384 decrease in salary and related welfare expenses of salesperson. General and administrative expenses were $0.9 million in fiscal year 2024, a decrease of 18.6% from $1.1 million in fiscal year 2023. The decrease in general and administrative expenses were mainly due to decreased bad debt expense by $0.1 million, decreased rental expense by $75,817, decreased employee salaries and welfare expenses by $63,769 due to the decrease of headcount in administration function, decreased consulting and professional service fees by $33,707, which offset by increased other G&A expense by $89,071. Research and development expenses were $0.2 million in fiscal year 2024, a decrease of 20.8% from $0.3 million in fiscal year 2023. Net Income (Loss) Net income was $6,687 in fiscal year 2024, compared to net loss of $1.1 million in fiscal year 2023. The decrease in net loss in 2024 mainly resulted from increased gross profit by $0.6 million, decreased operating expenses by $0.2 million, and decreased other expenses by $0.3 million in fiscal year 2024. Basic and Diluted Net Income (Loss) per Common Share Basic and diluted net income per common share were $0.00 in fiscal year 2024, compared to basic and diluted loss per common share of $0.10 in fiscal year 2023. Financial Condition As of December 31, 2024, the Company had cash of $1.7 million, compared to $0.03 million as of December 31, 2023. Net cash provided by operating activities in fiscal year 2024 was $1.6 million, compared to net cash used in operating activities of $1.8 million in fiscal year 2023. Net cash provided by financing activities in fiscal year 2024 was $0.08 million, compared to net cash used in financing activities of $0.5 million in fiscal year 2023. Recent Development On March 24, 2025, the Company completed its initial public offering (the "Offering") of 2,500,000 ordinary shares at a public offering price of $4.00 per share. The gross proceeds were $10.0 million, before deducting underwriting discounts and estimated offering expenses. The Company's ordinary shares began trading on the Nasdaq Capital Market on March 21, 2025, under the ticker symbol "BIYA." About Baiya International Group Inc. ("Baiya") Baiya has evolved from a job matching service provider into a cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions on the Gongwuyuan Platform to supplement its offline job matching services and started to position itself as a SaaS-enabled HR technology company by introducing its Gongwuyuan Platform in the flexible employment marketplace. Baiya has been and will continue to strategically develop and improve the Gongwuyuan Platform with product features that work together with its traditional offline service model to improve the job matching and HR related services in the flexible employment marketplace. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this press release are "forward-looking statements" as defined under the federal securities laws, including, but not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Forward-looking statements can be identified by terms such as "believe", "plan", "expect", "intend", "should", "seek", "estimate", "will", "aim" and "anticipate", or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the United States Securities and Exchange Commission ("SEC"). For further information, please contact: Baiya International Group Inc.Investor Relations DepartmentPhone: +86 0769-88785888Email: [email protected] Investor Relations Inquiries: Ascent Investor Relations LLCTina XiaoPhone: +1-646-932-7242Email: [email protected]         View original content:https://www.prnewswire.com/news-releases/baiya-international-group-inc-announces-fiscal-year-2024-financial-results-302454549.html SOURCE Baiya International Group Inc.

As of 2026-05-18 • Updated weeklySource: Earnings sourceIngestion runbook