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. Lo ...

Core Viewpoint - Baiya International Group Inc. has announced the acquisition of STARFISH TECHNOLOGY-FZE and its platform UpTop, marking a significant step in its digital transformation strategy and Web3 roadmap [1][4]. Group 1: Acquisition Details - The acquisition involves BIYA issuing 2,320,000 newly-issued Class A ordinary shares in exchange for all of Starfish's outstanding equity, with the equity transfer expected to complete in Q4 2025 [2]. - UpTop is a decentralized liquidity protocol on BNB Chain, aimed at providing liquidity services for crypto-native digital assets, tokenized U.S. equities, and digital bonds [1][3]. Group 2: Strategic Importance - This acquisition is described as the "first puzzle piece" in BIYA's comprehensive Web3 strategy, enhancing its capabilities in the digital asset and fintech sectors [1][4]. - The strategic framework for this acquisition was initially outlined in July 2025, emphasizing BIYA's commitment to digital transformation [3]. Group 3: Leadership Commentary - The CEO of BIYA highlighted that this agreement is a significant milestone in the company's strategic transformation, aiming to create a comprehensive digital asset ecosystem and drive long-term growth [4]. Group 4: Company Background - Baiya has transitioned from a job matching service provider to a cloud-based platform offering crowdsourcing recruitment and SaaS-enabled HR solutions, positioning itself as a SaaS-enabled HR technology company [5].

Core Insights - Baiya International Group Inc. has announced the launch of UpTop.Meme on Binance Alpha, marking a significant step in its strategic commitment to decentralized finance (DeFi) and Web3 [1][5] - The company signed a merger framework agreement with Starfish Technology-FZE to acquire all equity interests and core assets, indicating a transformation into a next-generation capital market participant [4][5] Group 1: Company Developments - The UpTop platform aims to provide on-chain liquidity infrastructure for both native crypto assets and tokenized traditional financial assets, bridging traditional and future finance [3] - The merger with Starfish includes the integration of core assets, technical IP, and the operational team, enhancing BIYA's capabilities in the DeFi space [4] - BIYA's CEO emphasized the importance of UpTop's launch on Binance as a strategic milestone for transitioning into digital capital markets [5] Group 2: Industry Context - By joining Binance Alpha, UpTop gains visibility among elite crypto-native users and becomes a key project within the Binance ecosystem [2] - UpTop is rolling out an airdrop campaign and a global trading competition to incentivize user participation and enhance platform liquidity [2] - The platform supports token trading of equities, treasuries, and more, creating a permissionless global liquidity foundation [3]

Core Insights - Baiya International Group Inc. has experienced significant growth in brand influence and business since its IPO on Nasdaq in March 2025, with expectations to generate over RMB 300 million in revenue and more than RMB 25 million in profit by the end of 2025 [1][2][3] Company Performance - The IPO has enhanced the brand credibility and market competitiveness of the Gongwuyuan platform, leading to concurrent growth in customer numbers and order volume in flexible employment, project outsourcing, and digital HR solutions [2][3] - The Gongwuyuan platform has gained strong recognition among medium- and large-sized enterprise clients, with increasing customer retention and platform engagement [2] Strategic Development - The company is focused on product optimization, technological innovation, and customer service, anticipating continued strong growth momentum in the second half of 2025 [3] - Plans include platform upgrades, integration of AI technologies in recruitment, and a nationwide channel expansion strategy to empower human resource services [3][4]

Core Viewpoint - Baiya International Group Inc. announced a partial waiver of lock-up restrictions on shares held by certain international groups, allowing for the sale of up to 2,950,000 shares following its recent IPO of 2,500,000 shares [1][2]. Group 1: Company Overview - Baiya International Group Inc. has transitioned from a job matching service provider to a cloud-based HR technology company, offering one-stop crowdsourcing recruitment and SaaS-enabled HR solutions through its Gongwuyuan Platform [4]. - The Gongwuyuan Platform is designed to enhance job matching and HR services in the flexible employment marketplace, integrating with traditional offline service models [4]. Group 2: IPO and Share Lock-Up - The partial waiver of the lock-up restriction will take effect on June 5, 2025, allowing the specified shares to be sold under the terms of the waiver [2]. - The lock-up period remains in effect for all other shares subject to the original agreements with the underwriters of the IPO [2].

Core Viewpoint - Baiya International Group Inc. reported a resilient performance for fiscal year 2024, achieving a revenue growth of 10.7% despite economic challenges, driven by a focus on project outsourcing services and strategic partnerships in the logistics sector [2][4]. Financial Performance - Net revenues for fiscal year 2024 were $12.8 million, an increase of 10.7% from $11.6 million in fiscal year 2023 [4][5]. - Gross profit rose to $1.4 million, reflecting a significant increase of 75.4% from $0.8 million in fiscal year 2023 [5][9]. - The company turned a net loss of $1.1 million in fiscal year 2023 into a net income of $6,687 in fiscal year 2024, with basic and diluted net income per share at $0.00 compared to a loss of $0.10 in the previous year [5][12]. Revenue Breakdown - Revenue from project outsourcing services was $12.8 million, marking a 26.6% increase from $10.1 million in fiscal year 2023, primarily due to new contracts with major customers [6][19]. - Revenue from entrusted recruitment services decreased by 97.2% to $0.04 million, attributed to the lingering effects of COVID-19 preventive measures [6][19]. - Revenue from other services increased by 155.6% to $3,050, mainly from software revenue [6]. Cost and Expenses - Total cost of revenue was $11.4 million, an increase of 5.8% from $10.8 million in fiscal year 2023 [8]. - Total operating expenses decreased by 11.7% to $1.3 million, driven by reductions in general and administrative expenses and research and development costs [10][19]. Cash Flow and Financial Condition - As of December 31, 2024, the company had cash of $1.7 million, a significant increase from $0.03 million in the previous year [13]. - Net cash provided by operating activities was $1.6 million, compared to a net cash used of $1.8 million in fiscal year 2023 [13][20]. Recent Developments - The company completed its initial public offering on March 24, 2025, raising gross proceeds of $10.0 million by offering 2,500,000 ordinary shares at $4.00 per share [14][15].