Ohio Pen - .8 Million Net Revenue for 2024 for Cloud-Based Crowdsourcing Recruitment and SaaS-Enabled HR Solutions Provider: Baiya International Group Inc

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Baiya International Group Inc. (N A S D A Q: BIYA) $BIYA 2024 Net income was Positive Compared to Net Loss of $1.1 Million in Fiscal 2023.

SHENZHEN, China - OhioPen -- Cloud-Based Internet Platform to Provide One-Stop Crowdsourcing Recruitment and SaaS-Enabled HR Solutions to Supplement Offline Job Matching Services.

Positioned to Serve the Gongwuyuan Platform of China in the Flexible Employment Marketplace.

Underwriters of Recent Initial Public Offering of 2,500,000 ordinary shares are Partially Waiving a Lock-Up Restriction.

Fiscal 2024 Net Revenues were $12.8 Million, an Increase of 10.7% from $11.6 Million in Fiscal 2023.

Fiscal 2024 Gross Profit was $1.4 Million, an Increase of 75.4% from $0.8 Million in Fiscal 2023.

Fiscal 2024 Net income was $6,687, Compared to Net Loss of $1.1 Million in Fiscal 2023.

Basic and Diluted Net Income Per Common Share were $0.00 in Fiscal 2024, Compared to Basic and Diluted Loss Per Common Share of $0.10 in Fiscal 2023.

Gross Proceeds from March, 2025 IPO were $10.0 Million, Before Deducting Underwriting Discounts and Estimated Offering Expenses.

Baiya International Group Inc. (N A S D A Q: BIYA) based in China, 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. BIYA started to position itself as a SaaS-enabled HR technology company by introducing its Gongwuyuan Platform in the flexible employment marketplace.

BIYA 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.

Partial Waiver of IPO Lock-Up Restriction for Certain Shareholders

On June 5^th BIYA announced that Cathay Securities, Inc. and Revere Securities LLC, the underwriters of the Company's recent initial public offering of 2,500,000 shares of its ordinary shares, are partially waiving a lock-up restriction with respect to up to 2,950,000 shares of the Company's BIYA ordinary shares held by Datong International Group Ltd., Hesheng International Group Ltd., Hongfeng International Group Ltd., and Yilong International Group Ltd.

The partial waiver took effect on June 5, 2025, with the BIYA shares eligible be sold on or after such date, subject to the terms of such waiver. The lock-up period will continue to apply with respect to all remaining shares subject to the lock-up agreements entered with the underwriters of the BIYA initial public offering.

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Fiscal Year 2024 Financial Results

On May 13^th BYIA 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."

BIYA Fiscal Year 2024 Financial Results

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 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, 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.

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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.

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.

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.

BIYA 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.

Recent Development

On March 24, 2025, BIYA completed its initial public 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.

For more information on $BIYA visit: www.baiyainc.com

Media Contact:
Company Names: Baiya International Group Inc. (N A S D A Q: BIYA)
Contact: Ms. Siyu Yang, CEO
Email: info@biyainc.com or weilaizhang@baiyainc.com
Phone: +1 (838) 900 - 8888
Country: China
Website: www.baiyainc.com

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