Organization and Description of Business (Tables)
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6 Months Ended |
Jun. 30, 2025 |
Variable Interest Entity [Line Items] |
|
Schedule of Consolidated Financial Statement of the Company |
As of June 30, 2025, the consolidated financial
statements of the Company include the following entities:
| | Place and date of | | % of ownership | | | Name of entities | | incorporation | | Direct | | Indirect | | Principal activities | Parent company | | | | | | | | | Baiya | | Cayman Island/ October 18, 2021 | | Parent | | | | Investment holding | Wholly owned subsidiaries of Baiya | | | | | | | | | Ruifeng BVI | | BVI/October 25, 2021 | | 100% | | | | Investment holding | Juxing HK | | PRC – Hong Kong/ November 3, 2021 | | 100% | | | | Investment holding | Pengze WFOE | | PRC – Mainland China/December 9, 2021 | | 100% | | | | Consultancy and management support | Baiya International Group Inc | | USA/ March 25, 2025 | | 100% | | | | Investment holding | VIE | | | | | | | | | Shenzhen Gongwuyuan Network Technology Co., Ltd. (“Gongwuyuan”) | | PRC – Mainland China/October 23, 2017 | | | | VIE | | Human resource management consulting, labor outsourcing service, staffing and placement service, research, and development of Apps | VIE’s Subsidiaries | | | | | | | | | Beijing Gongwuyuan Network Technology Co., Ltd. | | PRC – Mainland China/September 28, 2021 | | | | 100% owned by VIE | | Internet technology development, information system consulting, software development | Dongguan Zhenggongfu Human Resources Co., Ltd. | | PRC – Mainland China/March 28, 2018 | | | | 100% owned by VIE since March 1, 2020 | | Human resource management consulting, labor outsourcing service, staffing and placement service | Dongguan Gongwuyuan Yifang Talent Service Co., Ltd. | | PRC – Mainland China/December 27, 2018 | | | | 100% owned by VIE | | Human resource management consulting, labor outsourcing service, staffing and placement service | Ji’an Gongwuyuan Human Resource Service Co., Ltd.* | | PRC – Mainland China/September 16, 2020 | | | | 100% owned by VIE | | Human resource management consulting, labor outsourcing service, staffing and placement service | Dongguan Gongwuyuan Business Service Co., Ltd. | | PRC – Mainland China/March 26, 2019 | | | | 100% owned by VIE | | Marketing | Hunan Gongwuyuan Youchuang Human Resource Service Co., Ltd. | | PRC – Mainland China/June 3, 2019 | | | | 100% owned by VIE | | Human resource management consulting, labor outsourcing service, staffing and placement service | Nanchang Gongwuyuan Business Service Co., Ltd. | | PRC – Mainland China/December 26, 2019 | | | | 100% owned by VIE | | Human resource management consulting, labor outsourcing service, staffing and placement service | Name of entities | | Place and date of
incorporation | | % of ownership | | Principal activities | Direct | | Indirect | | Jiangxi Huizhong Human Resources Co., Ltd. | | PRC – Mainland China/May 21, 2020 | | | | 100% owned by VIE | | Human resource management consulting, labor outsourcing service, staffing and placement service | Guangdong Mili Education Consulting Service Co., Ltd. | | PRC – Mainland China/October 30, 2019 | | | | 100% owned by VIE since July 20, 2020 | | Education consulting and marketing | Jiangxi Gongwuyuan Supply Chain Management Co., Ltd. | | PRC – Mainland China/September 14, 2020 | | | | 100% owned by VIE | | Logistic and shipping | Jiangxi Gongwuyuan Talent Service Co., Ltd. | | PRC – Mainland China/October 16, 2020 | | | | 100% owned by VIE | | Human resource management consulting, labor outsourcing service, staffing and placement service | Zhongshan Jushangyue Freight Forwarding Service Co., Ltd. | | PRC – Mainland China/July 22, 2020 | | | | 100% owned by VIE since September 17, 2020 | | Logistic and storage service | Jiujiang Gongwuyuan Yifang Education Consulting Service Co., Ltd.* | | PRC – Mainland China/April 14, 2021 | | | | 100% owned by VIE | | Education consulting and human resource management service | Dongguan Fusheng Supply Chain Co., Ltd.* | | PRC – Mainland China/June 1, 2021 | | | | 100% owned by VIE | | Logistic and shipping | Dongguan Chenwang Supply Chain Co., Ltd.* | | PRC – Mainland China/May 31, 2021 | | | | 100% owned by VIE | | Logistic and shipping | Dongguan Jida Supply Chain Co., Ltd.* | | PRC – Mainland China/June 1, 2021 | | | | 100% owned by VIE | | Logistic and shipping | Shenzhen Aliyuncang Logistics Warehousing Co., Ltd. | | PRC – Mainland China/April 11, 2017 | | | | 100% owned by VIE since June 24, 2021 | | Internet information technology development and supply chain management |
* | Company
had no operations or very minimal operations with no revenues as of June 30, 2025. |
|
Schedule of Currency Exchange Rates |
The following table outlines the currency exchange rates that were
used in creating the consolidated financial statements in this report:
| |
For the Six Months Ended June 30, 2025 | | |
For the Six Months Ended June 30, 2024 | | |
For the Years Ended December 31, 2024 | |
Balance sheet date spot rates (as of June 30, 2025 and December 31, 2024): | |
$ | 7.1636 | | |
$ | 7.2672 | | |
$ | 7.2993 | |
Average rate (for the six months ended June 30, 2025 and 2024): | |
$ | 7.2526 | | |
$ | 7.2150 | | |
$ | 7.1957 | |
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Schedule of Disaggregate Revenue into Two Revenue Streams |
The Company disaggregate revenue into two
revenue streams, consisting of job matching service, entrust recruitment service, project outsourcing service and job dispatching service
and others as the following table:
| |
For the Six Months Ended June 30, | |
| |
2025 | | |
2024 | |
| |
(Unaudited) | | |
(Unaudited) | |
Category of Revenue | |
| | |
| |
Entrusted recruitment service | |
$ | 358,986 | | |
$ | 38,454 | |
Project outsourcing service | |
| 6,902,559 | | |
| 6,751,359 | |
Other services | |
| - | | |
| 2,089 | |
Total revenues | |
$ | 7,261,545 | | |
$ | 6,791,902 | |
|
Schedule of Disaggregates Revenue |
The Company disaggregates revenue by transferal of services as the
following table:
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For the Six Months Ended June 30, | |
| |
2025 | | |
2024 | |
| |
(Unaudited) | | |
(Unaudited) | |
Timing of Revenue Recognition | |
| | |
| |
Services transferred over time | |
$ | 7,261,545 | | |
$ | 6,791,902 | |
Total revenues | |
$ | 7,261,545 | | |
$ | 6,791,902 | |
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VIE [Member] |
|
Variable Interest Entity [Line Items] |
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Schedule of Financial Statements and Balances of the VIE and Its Subsidiaries |
The following financial statement
amounts and balances of the VIE and its subsidiaries were included in the accompanying consolidated financial statements after elimination
of intercompany transactions and balances:
| |
June 30, 2025 (Unaudited) | | |
December 31, 2024 | |
Current assets | |
$ | 4,946,228 | | |
$ | 4,680,414 | |
Non-current assets | |
| 1,169,060 | | |
| 528,032 | |
Total assets | |
$ | 6,115,288 | | |
$ | 5,208,446 | |
Current liabilities | |
$ | 4,661,048 | | |
$ | 4,175,038 | |
Non-current liabilities | |
| 9,187 | | |
| 43,972 | |
Total liabilities | |
$ | 4,670,235 | | |
$ | 4,219,010 | |
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Schedule of Revenue |
| |
For the
Six Months Ended June 30, | |
| |
2025 | | |
2024 | |
| |
(Unaudited) | | |
(Unaudited) | |
Net revenues | |
$ | 7,261,545 | | |
$ | 6,791,902 | |
Net loss | |
$ | 431,516 | | |
$ | (41,549 | ) |
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