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

Class A shares outstanding rose to 2,746,211 from 118,584 at year-end 2025, while subscription receivables reached $4,814,678.

Rhea-AI Summary

Baiya International Group (BIYA) reported first-half fiscal 2026 continuing revenue of $756,805 as its new business lines began generating sales. For the six months ended June 30, 2026, revenue compared with nil a year earlier; gross profit was $77,498. Intelligent matching and software-as-a-service platform revenue contributed $0.7 million, while consulting services generated $69,243.

Operating expenses fell 31.6% to $3,520,607. Net loss attributable to common shareholders narrowed to $2.4 million from $4.8 million, with basic and diluted loss per share falling to $0.54 from $96.15. Continuing operations lost $3,340,540, while discontinued operations earned $912,298. Baiya completed the disposal of Juxing Investment Group (Hong Kong) and related operations. Cash rose to $1,181,159 from $583,926 at year-end 2025. The unaudited results also showed $4.6 million of investing cash outflows.

15 points · 2 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

2 major · 7 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointCommon-shareholder net loss narrowed to $2.4 million in first-half 2026 from $4.8 million, but remained a loss.
• Major pointOperating cash use fell to $0.2 million in first-half 2026 from $6.4 million.
• Moderate pointIntelligent matching and platform revenue reached $0.7 million in first-half 2026, versus none a year earlier.
• Moderate pointGeneral and administrative expenses fell 34.3% to $3,164,070 in first-half 2026 from $4,817,512.
• Moderate pointCash increased to $1,181,159 at June 30, 2026, from $583,926 at December 31, 2025.
• Moderate pointTotal liabilities fell to $2,285,245 at June 30, 2026, from $4,763,005 at year-end 2025.
• Moderate pointCompany shareholders' equity rose to $27,450,974 at June 30, 2026, from $22,955,161 at year-end 2025.
• Moderate pointJuxing Investment Group (Hong Kong) disposal was completed during first-half 2026, including related operations.

7 minor points

• Minor pointConsulting revenue reached $69,243 in first-half 2026, versus none a year earlier.
• Minor pointGross profit reached $77,498 in first-half 2026, compared with nil a year earlier.
• Minor pointBasic and diluted loss per share narrowed to $0.54 in first-half 2026 from $96.15.
• Minor pointContinuing-operation net loss narrowed to $3,340,540 in first-half 2026 from $5,141,623, but remained a loss.
• Minor pointDiscontinued-operation net income increased to $912,298 in first-half 2026 from $405,921.
• Minor pointOther income from continuing operations rose to $102,696 in first-half 2026 from $3,780.
• Minor point. Forward-looking: it has not happened yet and may not happen.Baiya plans further platform development and enhanced service capabilities.

Negative

• Major pointClass A shares outstanding increased to 2,746,211 at June 30, 2026, from 118,584 at year-end 2025.
• Major pointSubscription receivables reached $4,814,678 at June 30, 2026, versus none at year-end 2025.
• Moderate pointInvesting cash use rose to $4.6 million in first-half 2026 from $2.3 million.
• Moderate pointFinancing cash inflows fell to $3.8 million in first-half 2026 from $7.9 million.
• Moderate pointCurrent liabilities increased to $2,285,245 at June 30, 2026, from $623,838 at year-end 2025.

2 minor points

• Minor pointSelling expenses rose 8.7% to $356,537 in first-half 2026 from $327,891.
• Minor pointContinuing-operation cost of revenue reached $679,307 in first-half 2026, compared with nil a year earlier.

News Explained

Baiya has reported unaudited first-half fiscal 2026 results; its issued and outstanding Class A shares rose from 118,584 on December 31, 2025 to 2,746,211 on June 30, 2026, expanding the share base and potentially reducing existing holders’ proportional ownership.

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Details

Market move: BIYA +9.84% vs previous close. First-half FY2026 earnings report

+26.4% Peak in 0 min

$2.00 – $2.74 Day Range

$9.68M Market Cap

On Sep 29, the day this news came out, the latest delayed price for BIYA is 9.84% above the previous close. Argus tracked a peak move of +26.4% during the session. Our momentum scanner has recorded 18 alerts for this stock so far that day. The latest delayed price is $2.25. Relative volume is exceptionally heavy at 55.7x the average.

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Key Figures

Net revenues from continuing operations: $0.8 million (vs. nil) Gross profit: $77,498 (vs. nil) Total operating expenses: $3.5 million, down 31.6% from $5.1 million +3 more

Net revenues from continuing operations

$0.8 million (vs. nil)

First half of fiscal year 2026

Gross profit

$77,498 (vs. nil)

First half of fiscal year 2026

Total operating expenses

$3.5 million, down 31.6% from $5.1 million

First half of fiscal year 2026

Net loss attributable to common shareholders

$2.4 million (vs. $4.8 million)

First half of fiscal year 2026

Cash

$1.2 million (vs. $0.6 million)

As of June 30, 2026; compared with December 31, 2025

Net cash used in operating activities

$0.2 million (vs. $6.4 million)

First half of fiscal year 2026

Previous Earnings Reports

1 past event · Latest: Sep 30

Same Type 1 event

1. Sep 30

   First-half earnings

   24h Move

   +0.8%

   H1 revenue and gross profit rose, but net loss widened to $4.7 million.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

saas, discontinued operations, non-controlling interests

3 terms

saas technical

"intelligent matching and SaaS platform services"

SaaS, or Software as a Service, is a way of delivering computer programs over the internet, allowing users to access and use them through a web browser without needing to install or maintain the software themselves. For investors, it highlights a business model where companies generate recurring revenue by providing ongoing access to their software, often leading to predictable income and growth potential.

discontinued operations financial

"Net income from discontinued operations was $0.9 million"

Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.

non-controlling interests financial

"net income attributable to non-controlling interests from continuing operations"

An ownership stake in a subsidiary held by outside shareholders rather than the parent company, representing the portion of that subsidiary’s assets and profits the parent does not control. For investors, it shows what part of consolidated earnings and equity belongs to others — like a roommate who owns part of a house — which affects how much value and profit per share are truly attributable to the parent company’s shareholders.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 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				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 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				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			$	-

 

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SOURCE Baiya International Group Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Baiya's first-half fiscal 2026 revenue and earnings?

Baiya generated $756,805 in continuing-operation revenue and reported a common-shareholder net loss of $2.4 million for the six months ended June 30, 2026. Revenue was nil a year earlier, while the comparable shareholder loss was $4.8 million. Basic and diluted loss per share was $0.54, versus $96.15.

What drove Baiya's first-half fiscal 2026 general and administrative expense decline?

Lower consulting and professional service fees and telecom expenses drove the decline in general and administrative expenses. Consulting and professional service fees decreased by $1.0 million, and telecom expenses decreased by $0.8 million. These reductions were partly offset by payroll expenses increasing $85,351, stock compensation increasing $51,559, and other expenses increasing $51,424.

What subsidiary-disposal receivables did Baiya report at June 30, 2026?

Baiya reported $577,432 in current subsidiary-disposal receivables and $1,058,504 in noncurrent subsidiary-disposal receivables at June 30, 2026. The company completed the disposal of Juxing Investment Group (Hong Kong) and its related operations during the first half of fiscal 2026.

What digital assets and third-party loan receivables did Baiya hold at June 30, 2026?

Baiya held $3,708,612 in digital assets and $18,794,286 in current third-party loan receivables at June 30, 2026. At December 31, 2025, digital assets were nil and current third-party loan receivables were $16,996,022.