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Biddance AI Systems, Inc. Announces First Half of Fiscal Year 2026 Financial Results

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XIAMEN, China, Oct. 26, 2026 /PRNewswire/ — Biddance AI Systems, Inc. (Nasdaq: BDAI) (the “Company”), a China-based information technology consulting and solutions service provider, today announced its unaudited financial results for the six months ended June 30, 2026.

Ms. Xiaoyang Huang, Chief Executive Officer and Director of Biddance AI Systems, Inc., commented, “We are delighted with the robust year-over-year revenue growth achieved in the first half of the fiscal year. Our hardware and equipment sales served as the main revenue driver, providing solid support to the segment’s expansion. Concurrently, we are aggressively seeking to expand our client base for our tax services.”

First Half 2026 Financial Highlights

Revenue was $1.23 million for the six months ended June 30, 2026 compared to $0.74 million for the same period of last year.Cost of revenue was $1.02 million for the six months ended June 30, 2026 compared to $0.57 million for the same period of last year.Gross profit was $0.20 million for the six months ended June 30, 2026 compared to $0.17 million for the same period of last year.Net loss was $1.37 million for the six months ended June 30, 2026 compared to a net loss of $0.92 million for the same period of last year.

First Half 2026 Financial Results

Revenue

Total revenues were $1.23 million for the six months ended June 30, 2026, compared to $0.74 million for the same period of last year. The revenue increase was mainly due to the increase in hardware sales.

Gross Profit and Gross Margin

Gross profit was $0.20 million for the six months ended June 30, 2026 compared to $0.17 million for the same period of last year.

Gross profit margin as a percentage of revenue decreased to 16.4% for the six months ended June 30, 2026 from 23.4% for the same period of last year.

Operating Expenses

Operating expenses were $2.00 million for the six months ended June 30, 2026, an increase of 31.7% from $1.52 million for the same period of last year. The increase in operating expense in 2026 was primarily due to the increase in general and administrative expenses.

Other Income

Total other income, net, was $0.33 million ($327,339) and $0.33 million ($330,596) for the six months ended June 30, 2026 and 2025, respectively.

Net Income (Loss)

As a result of the factors described above, net loss was $1.37 million for the six months ended June 30, 2026, compared to a net loss of $0.92 million for the comparable period of 2025.

Basic and Diluted Loss per Share

Basic and diluted loss per share was $0.16 for the six months ended June 30, 2026, compared to $0.11 for the same period of last year.

Cash Flow

Net cash used in operating activities was $1.08 million for the six months ended June 30, 2026, compared to net cash provided by operating activities of $1.15 million for the same period of last year.

Net cash provided by investing activities was $4.15 million for the six months ended June 30, 2026, compared to net cash used in investing activities of $0.23 million for the same period of last year.

Net cash provided by financing activities was $10.42 million for the six months ended June 30, 2026.

About Biddance AI Systems, Inc.

Biddance AI Systems, Inc. (formerly known as Hitek Global Inc.), headquartered in Xiamen, China, is an information technology (“IT”) consulting and solutions service provider in China. The Company has two lines of business: 1) services to small and medium businesses, which consists of Anti-Counterfeiting Tax Control System (“ACTCS”) tax devices, ACTCS services, and IT services, and 2) services to large businesses, which consists of hardware sales and software sales. The Company’s vision is to become a one-stop consulting destination for holistic IT and other business consulting services in China. For more information, visit the Company’s website at http://www.xmhitek.com/. 

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update 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 in its other filings with the SEC.

The following tables summarize our results of operations for the periods indicated:

 

 

BIDDANCE AI SYSTEMS, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. Dollars, except for the number of shares)

June 30,
2026

December 31,
2025

(Unaudited)

Assets

Current assets

Cash and cash equivalents

$

17,088,014

$

3,611,999

Short-term investments

19,970,243

18,364,219

Accounts receivable, net

5,350,006

5,407,989

Advances to suppliers, net

4,422

290,680

Inventories, net

85,568

79,411

Loans receivable

589,528

6,020,220

Other receivable

5,846,247

6,846,247

Prepaid expenses and other current assets

10,507

171,661

Total current assets

48,944,535

40,792,426

Non-current assets

Non-current accounts receivable, net

–

1,027,421

Non-current loans receivable

–

285,996

Property, equipment and software, net

332,488

475,189

Total non-current assets

332,488

1,788,606

Total Assets

$

49,277,023

$

42,581,032

Liabilities and Shareholders’ Equity

Current liabilities

Accounts payable

$

255,982

$

292,065

Loan payable – related party

–

2,645,465

Deferred revenue

65,298

73,059

Taxes payable

1,832,077

1,795,736

Accrued expenses and other current liabilities

160,776

148,342

Total current liabilities

2,314,133

4,954,667

Non-current Liabilities

Deferred income tax liabilities, net

1,559,142

1,616,053

Total non-current liabilities

1,559,142

1,616,053

Total Liabilities

3,873,275

6,570,720

Commitments and Contingencies

–

–

Shareholders’ Equity

Class A Ordinary Shares, US$0.375 par value; 800,000 shares authorized,
   799,861 shares issued and outstanding as of June 30, 2026; 800,000 shares
   authorized, 5,629 shares issued and outstanding as of December 31, 2025*

299,948

2,111

Class B Ordinary Shares, US$0.0001 par value; 150,000,000 shares authorized,
   8,192,000 shares issued and outstanding

819

819

Additional paid-in capital

35,040,217

24,920,060

Statutory reserve

836,215

836,215

Retained earnings

9,301,135

10,671,200

Accumulated other comprehensive loss

(74,586)

(420,093)

Total Shareholders’ Equity

45,403,748

36,010,312

Total Liabilities and Shareholders’ Equity

$

49,277,023

$

42,581,032

 

 

BIDDANCE AI SYSTEMS, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Expressed in U.S. Dollars, except for the number of shares)

Six Months Ended
June 30,

2026

2025

(Unaudited)

(Unaudited)

Revenues

$

1,226,046

$

741,541

Cost of revenues

(1,024,835)

(567,675)

Gross profit

201,211

173,866

Operating expenses:

General and administrative

2,002,067

1,519,128

Selling

1,411

2,325

Total operating expenses

2,003,478

1,521,453

Operating loss

(1,802,267)

(1,347,587)

Other income (expense)

Net investment gain

102,363

82,463

Interest income

210,639

412,683

Interest expense

–

(153,049)

Other income (expense), net

14,337

(11,501)

Total other income, net

327,339

330,596

Loss before income taxes

(1,474,928)

(1,016,991)

Income tax benefit

(104,863)

(100,882)

Net loss

$

(1,370,065)

$

(916,109)

Comprehensive loss

Net loss

$

(1,370,065)

$

(916,109)

Foreign currency translation gain

345,507

236,419

Comprehensive loss

$

(1,024,558)

$

(679,690)

Loss per ordinary share

Basic and diluted

$

(0.16)

$

(0.11)

Weighted average number of ordinary shares outstanding

Basic and diluted*

8,313,997

8,197,629

 

 

BIDDANCE AI SYSTEMS, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

Six Months Ended June 30, 2026 and 2025

(Expressed in U.S. Dollars, except for the number of shares)

Class A
Ordinary Shares*

Class B
Ordinary Shares

Additional

Accumulated
other

Total

Number of
shares

Amount

Number of
shares

Amount

paid-in
capital

Statutory
reserve

Retained
earnings

comprehensive
loss

Shareholders’
Equity

Balance as of
   December 31, 2024

5,629

$

2,111

8,192,000

$

819

$

24,920,060

$

836,215

$

10,491,058

$

(975,343)

$

35,274,920

Foreign currency
   translation adjustment

–

–

–

–

–

–

–

236,419

236,419

Net loss

–

–

–

–

–

–

(916,109)

–

(916,109)

Balance as of
   June 30, 2025
   (unaudited)

5,629

$

2,111

8,192,000

$

819

$

24,920,060

$

836,215

$

9,574,949

$

(738,924)

$

34,595,230

Class A
Ordinary Shares*

Class B
Ordinary Shares

Additional

Accumulated
other

Total

Number of
shares

Amount

Number of
shares

Amount

paid-in
capital

Statutory
reserve

Retained
earnings

comprehensive
loss

Shareholders’
Equity

Balance as of
   December 31, 2025

5,629

$

2,111

8,192,000

$

819

$

24,920,060

$

836,215

$

10,671,200

$

(420,093)

$

36,010,312

Foreign currency
   translation adjustment

–

–

–

–

–

–

–

345,507

345,507

Issuance of ordinary
   shares

794,232

297,837

–

–

10,120,157

–

–

10,417,994

Net loss

–

–

–

–

–

–

(1,370,065)

–

(1,370,065)

Balance as of
   June 30, 2026
   (unaudited)

799,861

$

299,948

8,192,000

$

819

$

35,040,217

$

836,215

$

9,301,135

$

(74,586)

$

45,403,748

 

 

BIDDANCE AI SYSTEMS, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. Dollars)

Six Months Ended
June 30,

2026

2025

(Unaudited)

(Unaudited)

Cash flows from operating activities:

Net loss

$

(1,370,065)

$

(916,109)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

Depreciation and amortization

154,064

145,775

Loss on disposal of property, plant and equipment

1,433

–

Accrued interest income from loans, net

–

(104,790)

Net investment gain

(55,640)

(66,820)

Provision for expected credit losses of receivables

506,980

482,621

Provision for obsolete inventories

2,019

3,832

Deferred income tax

(105,252)

(100,882)

Changes in operating assets and liabilities:

Short-term investments – trading securities

(1,312,113)

2,427,711

Accounts receivable

710,590

1,044,167

Advance to suppliers

291,845

(2,272,803)

Inventories

(5,700)

12,483

Prepaid expenses and other current assets

164,540

265,122

Accounts payable

(42,330)

(50,983)

Advance from customers

–

291,466

Deferred revenue

(9,888)

(16,056)

Tax payable

(18,497)

5,781

Due to related parties

–

16,546

Accrued expenses and other current liabilities

7,798

(13,461)

Net cash (used in) provided by operating activities

(1,080,216)

1,153,600

Cash flows from investing activities:

Loans to third parties

(291,443)

(413,645)

Loans repayment by third parties

3,439,030

137,882

Purchases of held-to-maturity investments

(1,000,000)

(1,650,000)

Redemption of held-to-maturity investments

2,000,000

700,000

Refund of deposit for acquisition

–

1,000,000

Net cash provided by (used in) investing activities

4,147,587

(225,763)

Cash flows from financing activities:

Proceeds from issuance of ordinary shares

10,417,994

–

Net cash provided by financing activities

10,417,994

–

Effect of exchange rate changes on cash

(9,350)

33,690

Net increase in cash

13,476,015

961,527

Cash and cash equivalents at the beginning of period

3,611,999

7,236,798

Cash and cash equivalents at the end of period

$

17,088,014

$

8,198,325

Supplemental disclosures of cash flow information:

Cash paid for income taxes

$

–

$

–

Cash paid for interest

$

–

$

–

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

 

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SOURCE Biddance AI Systems, Inc.

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COLUMBIA DISTRIBUTING COMPLETES ALASKA TRANSACTION WITH RNDC, ESTABLISHING A FOUR-STATE PACIFIC NORTHWEST TOTAL BEVERAGE PLATFORM

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October 26, 2026

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WILSONVILLE, Ore., Oct. 26, 2026 /PRNewswire/ — Columbia Distributing today announced it has completed its transaction with Republic National Distributing Company (RNDC) to acquire certain beverage distribution assets in Alaska, marking Columbia’s official entry into the state and completing the final component of the letter of intent announced by the companies in April.

The closing represents a major milestone in a long-term strategy Columbia set out to build: a multi-category, multi-state total beverage platform across the Pacific Northwest. With direct operations now spanning Alaska, Oregon, and Washington, along with its recently completed strategic partnership with Hayden Beverage in Idaho, Columbia has brought that vision to life, creating a connected four-state route to market and a more complete one-stop solution for supplier and retail partners across the region.

“This is a huge moment for Columbia because it represents exactly what we set out to build,” said Chris Steffanci, President and CEO of Columbia Distributing. “Our long-term vision has been to create the strongest total beverage platform in the Pacific Northwest—a multi-category, multi-state strategy that gives our partners a more complete solution across the region. With Alaska, that vision is now coming to life. We can offer suppliers and retailers a connected, capable, and increasingly seamless route to market across Alaska, Idaho, Oregon, and Washington.”

The Alaska transaction expands Columbia’s direct service territory to more than 835,000 square miles and adds nearly 1,500 customer accounts. It also brings Columbia into a market with an experienced local team, strong customer relationships, and an established beverage distribution network.

Columbia sees significant untapped potential in the Alaska business and plans to bring renewed investment, leadership, resources, and market focus to the state. The company will pair the Alaska team’s local knowledge and relationships with the culture and ways of working that drive Columbia’s performance in its existing markets, empowering people, moving with urgency, holding one another accountable, and maintaining a relentless focus on customers, brands, and execution.

“What has impressed me most is the energy and ambition of the Alaska team,” Steffanci said. “They know the market, they believe in the brands, and they are hungry to grow, compete, and win. They do not need us to teach them Alaska. Our responsibility is to give them the leadership, investment, tools, and support to show what they can do.”

“At Columbia, we trust our people, empower the teams closest to the market, and expect everyone to take ownership of results,” Steffanci continued. “That culture and the way we work across our company will bring new energy and momentum to Alaska. We are not entering the market to maintain the status quo—we are here to build, grow, compete, and raise the standard. This team is ready to be unleashed, and I believe the market is going to feel the difference very quickly.”

The expansion is the latest step in the deliberate strategy Columbia has pursued to build a broader total beverage business across multiple categories and markets. On June 30, the company completed its acquisition of certain RNDC wine and spirits distribution rights in Oregon and Washington. In September, Columbia completed a strategic partnership with Hayden Beverage, creating long-term alignment with Idaho’s leading locally based beverage distributor. The Alaska transaction completes the geographic footprint Columbia envisioned across the four-state Pacific Northwest market.

Together, these transactions create a platform designed around what suppliers and retailers increasingly need: one partner capable of representing multiple beverage categories across multiple states while still maintaining the local knowledge, relationships, and market-level execution required to succeed in each community.

Columbia’s expanded platform spans beer, wine, spirits, cider, non-alcoholic beverages, and emerging beverage categories. For supplier partners, it provides greater regional scale, category expertise, operational capabilities, and a more cohesive route to market. For retailers, it provides access to a broader portfolio backed by strong sales, delivery, merchandising, revenue management, and account execution capabilities.

“This is what total beverage means to us,” Steffanci added. “It is not simply adding categories or adding geography. It is about building a one-stop solution that connects categories, capabilities, people, and markets in a way that creates more value for our partners. We now have the platform we envisioned across the Pacific Northwest, and our focus turns to executing against that opportunity.”

Columbia is working closely with the Alaska team, suppliers, customers, and business partners to support a smooth transition. Columbia will communicate additional information about the operational transition, portfolio, and go-live timing directly to affected stakeholders.

Columbia appreciates RNDC’s partnership and the work of teams across both organizations to complete the transaction. Financial terms were not disclosed.

About Columbia Distributing

Since 1935, Columbia Distributing has helped build some of the best-known brands in the beverage business. Today, Columbia is one of the nation’s leading total beverage distributors, with a portfolio spanning beer, wine, spirits, cider, non-alcoholic beverages, and emerging beverage categories.

Columbia’s more than 3,200 teammates serve approximately 24,000 retail customers and deliver more than 80 million cases annually. With direct operations across Alaska, Oregon, and Washington and a strategic partnership with Hayden Beverage in Idaho, Columbia offers supplier and retail partners a connected four-state, multi-category route to market across the Pacific Northwest.

Columbia’s success is built on its people, its brands, and a deep-rooted commitment to execution, service, and creating sustainable growth for its teammates, customers, suppliers, shareholders, and communities. For more information, visit www.coldist.com.

Contact: Steve Gibbs
Steve.Gibbs@coldist.com | 206-920-6799

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SOURCE Columbia Distributing

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Secretary of the State Thomas Highlights Record Protecting Connecticut Businesses as Scams Grow More Sophisticated

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October 26, 2026

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As early voting enters its final week, Secretary of the State Stephanie Thomas highlights her first-term record protecting Connecticut businesses, from fighting human trafficking and business hijacking to lowering fees and moving filings online, and pledges to keep business owners prepared as AI makes scams more sophisticated.

HARTFORD, Conn., Oct. 26, 2026 /PRNewswire-PRWeb/ — As scams targeting Connecticut businesses grow more sophisticated, including recent emails impersonating state offices, Secretary of the State Stephanie Thomas is highlighting the protections her team has put in place for the more than half a million businesses registered in Connecticut. She is seeking a second term to build on that work as AI-powered fraud creates new risks for business owners.

“If someone tries to steal your business, you’re not on your own. AI is making scams more sophisticated by the month, and I’ll keep making sure business owners know what to watch for.”

“Before I was Secretary of the State, I ran a small business, so I know how scarce time and money can be,” said Secretary Thomas. “That’s why our team cut fees and red tape, and why I fought for new laws that let my office investigate when fraudsters hijack a Connecticut business. If someone tries to steal your business, you’re not on your own. But the threats keep evolving. AI is making scams more sophisticated by the month, and I’ll keep making sure business owners know what to watch for. I’m not done delivering for Connecticut businesses, and I hope you’ll support me on November 3.”

Protecting Connecticut Businesses

Fighting human trafficking. Through Be a Light, Secretary Thomas made Connecticut the 7th state in the country and the first in the Northeast to help businesses identify, report and prevent human trafficking. Trafficking can reach any business through its customers, employees or supply chains. PreventHumanTraffickingCT.com gives owners practical guidance on what to watch for and what to do.

Stopping business hijacking. Fraudsters have stolen login credentials, changed a business’s listed owner and opened lines of credit in its name. Owners used to have only one remedy: hire a lawyer and go to court. Secretary Thomas brought the problem to the legislature. New laws now give her office the authority to investigate and the funding to build stronger protections, including screening that flags suspicious filings for human review.

Early warnings for owners. Business owners can turn on Follow Business alerts at Business.CT.gov to be notified whenever someone files a document for their business.

Lower costs, less red tape. Apostille fees are lower, and the entire process for authenticating documents for use abroad, used for about 40,000 documents a year, is now online. That makes Connecticut one of the first states to offer it. A new statewide trademark directory lets owners check a name before investing in it.

Help getting started and growing. A free monthly business newsletter gathers grants, funding and training opportunities in one place. A new Business Welcome Packet walks owners through their first steps, from tax IDs to fraud protection.

Early Voting Ends Sunday, Nov. 1

Early voting is open daily from 10 a.m. to 6 p.m. through Sunday, Nov. 1, with extended hours from 8 a.m. to 8 p.m. on Tuesday, Oct. 27 and Thursday, Oct. 29. There is no early voting on Monday, Nov. 2.

Every town has at least one early voting location. Voters can find theirs at MyVote.CT.gov or by contacting their town’s registrar of voters. Eligible residents who are not yet registered can register and vote the same day during early voting or on Election Day, Tuesday, Nov. 3, when polls are open from 6 a.m. to 8 p.m.

About Stephanie Thomas

Stephanie Thomas is Connecticut’s 75th Secretary of the State and the first Black person elected to the office. Since taking office in 2023, she has secured $20 million to modernize Connecticut’s election equipment, led the rollout of early in-person voting, expanded civic education through initiatives such as the Power of Civics platform and launched Be a Light, making Connecticut the first state in the Northeast to help businesses identify, report and prevent human trafficking.

Thomas is running for reelection in 2026. She serves on the Executive Board of the National Association of Secretaries of State and testified before Congress in 2025 about balancing voter access with election security.

Before becoming secretary, Thomas represented Norwalk, Wilton and Westport in the state legislature. She also ran a small business and spent nearly 30 years advising nonprofit organizations on strategy and fundraising.

Media Contact

Natasha Lopoukhine, Savvy Marketing Communications, 1 2039560920, natasha@igotsavvy.com, www.igotsavvy.com

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SOURCE Stephanie Thomas

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MNA: Berkshire VNA Nurses and Healthcare Professionals Deliver Petition Calling for a Fair Union Contract to Strengthen Patient Access to Home Care

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October 26, 2026

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While there has been bargaining progress on early-career wages, clinicians are urging BVNA to invest in experienced staff to support safe patient care

PITTSFIELD, Mass., Oct. 26, 2026 /PRNewswire/ — Berkshire Visiting Nurse Association (BVNA) nurses and healthcare professionals, represented by the Massachusetts Nurses Association (MNA), delivered a petition to BVNA management at 4 p.m. Monday, October 26, calling for a fair contract that supports recruitment, retains experienced clinicians and protects the time needed to care for patients safely at home. The parties next meet for bargaining on October 28.

The petition comes as the bargaining unit has shrunk by approximately half over the past several years amid high turnover and challenges attracting new staff. BVNA clinicians are seeking to reverse that decline to strengthen access to home care, help patients recover in familiar surroundings, and support timely hospital discharges.

“We appreciate that management has made progress toward attracting new staff by moving on wages for nurses and healthcare professionals early in their careers,” said Tamaryn Clowdus, physical therapist, and Co-Chair of the MNA Bargaining Committee at Berkshire VNA. “We also need reasonable cost-of-living increases for the experienced clinicians who have stayed with the VNA through difficult years. Building a stable workforce and supporting our home care patients requires a focus on both recruitment and retention.”

BVNA nurses and healthcare professionals provide care that helps patients manage illness, recover after hospitalization and remain safely at home. Experienced clinicians bring clinical judgment, knowledge of their communities and familiarity with patients’ needs. These are important community assets that are difficult to replace when staff leave.

With Berkshire Medical Center experiencing high patient volume, sufficient levels of home care staffing matters more than just the patients receiving visits. Ready access to home care can help patients who are ready to leave the hospital return home with the support they need, making more hospital beds available for people requiring acute care.

“Berkshire Medical Center nurses stand with our BVNA colleagues in their efforts to secure a fair contract that strengthens home care in Berkshire County,” said Sarah Roberts, RN, MNA Co-Chair at Berkshire Medical Center. “We see every day how much our patients depend on having care available when they return home. Supporting the clinicians who provide that care helps patients leave the hospital safely and keeps beds available for others who need acute care.”

The BVNA petition also calls for reasonable and achievable productivity expectations developed with clinicians and grounded in the realities of home care. A visit involves more than time spent in a patient’s home. Clinicians must also document care, coordinate services, communicate with providers and families, and travel between patients.

MassNurses.org │ Facebook.com/MassNurses │ Twitter.com/MassNurses │ Instagram.com/MassNurses 

Founded in 1903, the Massachusetts Nurses Association is the largest union of registered nurses in the Commonwealth of Massachusetts. Its 26,000 members advance the nursing profession by fostering high standards of nursing practice, promoting the economic and general welfare of nurses in the workplace, projecting a positive and realistic view of nursing, and by lobbying the Legislature and regulatory agencies on health care issues affecting nurses and the public.

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SOURCE Massachusetts Nurses Association

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