Technology
Biddance AI Systems, Inc. Announces First Half of Fiscal Year 2026 Financial Results
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14 hours agoon
By
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.
View original content:https://www.prnewswire.com/news-releases/biddance-ai-systems-inc-announces-first-half-of-fiscal-year-2026-financial-results-302919675.html
SOURCE Biddance AI Systems, Inc.
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Revolune and Concept Life Sciences Partner to Help Customers Transition Multiplex IF Assays to Flexible New Workflows
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OBERKOCHEN, Germany, Oct. 27, 2026 /PRNewswire/ — Revolune today announced a partnership with Concept Life Sciences to help biopharma and life sciences customers reassess, transfer, and scale multiplex immunofluorescence assays using Revolune’s flexible staining technology, which now supports 4- to 7-plex assays.
The collaboration addresses a growing market need as customers evaluate alternatives to existing workflows and reconsider how best to support tissue biomarker research. With Revolune now offering 4- to 7-plex assay capabilities, Concept Life Sciences can help customers transfer established assays onto the Revolune platform, preserve valuable panel know-how, and move more easily from existing workflows to flexible, ready-to-use multiplex formats.
“Many customers are not starting from a blank page — they already have assays, panels, and tissue biomarker strategies they need to preserve while moving toward more flexible workflows,” said Adrian Arechiga, CCO of Revolune. “Concept Life Sciences brings the translational biology, biomarker, and assay development expertise needed to help customers make that transition practically and confidently.”
Concept Life Sciences is a leading contract research organization serving the global life sciences industry, with capabilities across discovery, development, analytical services, translational biology, biomarker discovery, spatial biology, and end-to-end chemistry. By combining these capabilities with Revolune’s adaptable multiplex immunofluorescence technology, the companies aim to help customers generate decision-ready tissue biomarker insights while reducing the operational burden of assay transfer and implementation.
The partnership is designed for research teams that want to retain the scientific value of existing workflows while gaining access to a more flexible platform for multiplex staining. Customers can work with Concept Life Sciences to evaluate assay transfer feasibility, optimize panel design, run tissue staining workflows, and connect resulting biomarker data to broader discovery and development programs.
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The Concept Life Sciences partnership forms part of Revolune’s broader strategy to build an ecosystem of partners that support adoption across different customer needs — from specialist service execution to assay migration, translational biology, and integrated R&D support.
Meet Revolune and Concept Life Sciences at SITC 2026
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Meet both teams at SITC at Sundown, a relaxed evening of complimentary drinks, dinner and conversation hosted by Concept Life Sciences on November 6, 6.30-8.30 pm. More information: https://www.conceptlifesciences.com/campaigns/sitc-2026.
About Revolune
Revolune is a life science company dedicated to making multiplex immunofluorescence as accessible and practical as routine tissue analysis. Its reagent technologies help laboratories move rapidly from existing primary antibodies to ready-to-use multiplex kits, simplifying spatial biology workflows and enabling researchers to focus on biological questions rather than assay management.
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The company offers sophisticated translational biology services coupled with exceptional end-to-end chemistry capabilities to support drug discovery and development across a range of established and emerging modalities, with the ability to seamlessly integrate capabilities and provide bespoke solutions to address client needs.
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From Global Orders to Global Growth: Financial Infrastructure for Mid-Market Exporters
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HONG KONG, Oct. 27, 2026 /PRNewswire/ — For a growing homewares exporter, a major overseas order brings opportunity, but also an immediate question: how will the business finance production, cover shipping costs and manage cash until the buyer pays?
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These are everyday challenges behind international trade. At the second phase of the 140th Canton Fair, themed “Quality Home Life” and featuring furniture, kitchenware, household items, home decorations, gifts and festive products, PhotonPay is highlighting how financial infrastructure can help growing exporters manage these demands as they expand internationally.
Financial Tools for the Next Stage of Growth
Large multinational companies can draw on dedicated treasury teams, established banking relationships and sophisticated systems to manage funds across markets. Smaller businesses may have simpler payment needs. Mid-market exporters occupy a different position: their operations span multiple countries and currencies, while their finance teams often remain lean.
At the same time, production and freight costs must be covered before all customer payments arrive. Receivables may be spread across currencies and accounts, while suppliers expect payment according to their own schedules. Finance teams must track receipts, reconcile invoices and maintain a clear view of available funds.
Across multiple markets and overlapping orders, these tasks can consume significant time and complicate decisions about when and where to deploy cash. Growing exporters need practical tools to coordinate collections, manage funds across currencies and pay counterparties worldwide, without having to build a large treasury function from scratch.
Connecting Fiat and Stablecoin Rails to Global Business
Bank accounts and fiat payment networks remain central to international trade, connecting businesses to local collection methods and established banking relationships. Stablecoins offer an additional way to transfer value across borders, with transactions possible outside conventional banking hours depending on the network and transaction arrangements.
Connecting fiat and stablecoin rails can give businesses more flexibility in managing cross-border funds. For exporters, the practical value lies in connecting the stages of a cross-border financial workflow: receiving customer payments, converting currencies and making funds available for supplier payments and other business expenses.
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These capabilities connect the key stages of cross-border financial operations, and for growing exporters, this provides a more integrated way to manage international payments as their business expands.
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Financial Infrastructure That Grows With the Business
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About PhotonPay
PhotonPay is a stablecoin-powered payment operating system built for global infrastructure. Designed for modern enterprises, PhotonPay enables businesses to send, receive, convert, and settle funds across both fiat and stablecoin rails through a single, compliance-first integration, spanning 200+ countries and territories.
For more information, visit [www.photonpay.com].
Disclaimer
This material is for general informational purposes only and does not constitute legal, regulatory, tax, accounting, or investment advice, nor an offer or solicitation for any product or service. The availability, features, and regulatory treatment of PhotonPay’s products and services may vary depending on the user’s location, business model, and the laws and regulations that apply. Any descriptions of functionality, performance, efficiency, cost savings, or compliance support (including, without limitation, references to “real‑time”, “24/7”, “high‑efficiency”, or “compliant” solutions) are aspirational or forward‑looking in nature. Actual outcomes may differ due to market conditions, technological constraints, and regulatory developments, and PhotonPay makes no express or implied representation, warranty, or guarantee as to the achievement of any particular result.
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MILWAUKEE, Oct. 27, 2026 /PRNewswire/ — Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced an expanded product showcase for Automation Fair® 2026. Across the plant floor and enterprise, Rockwell’s latest innovations help manufacturers unlock greater productivity, simplify operations and strengthen resilience in an increasingly complex industrial environment. Together, these technologies demonstrate how AI, automation and digital transformation are reshaping the future of industrial operations.
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Registration is now open. Join thousands of industrial professionals at Automation Fair 2026 and be among the first to experience Rockwell’s latest innovations in action. Register today at automationfair.com.
About Rockwell Automation
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