$BDMDW
Baird Medical Investment Holdings Ltd
CIK:0001982444|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income/(loss) | $ (27,541,124) | $ 12,598,098 | $ 10,658,183 |
| Adjustments to reconcile net income/(loss) to net cash used in operating activities: | |||
| Depreciation and amortization | 1,104,084 | 1,139,131 | 1,014,387 |
| Deferred tax expense (benefit) | (53,499) | 32,774 | (541,987) |
| Allowance for credit losses | 672,946 | 2,345,747 | 2,221,430 |
| Recovery of allowance for expected credit losses | (100,321) | (1,099,404) | 0 |
| Share-based compensation | 17,471,081 | ||
| Prepaid and other current assets provision | 117,679 | ||
| Amortization of right-of-use assets | 312,019 | 368,264 | 357,325 |
| Changes in assets and liabilities: | |||
| Accounts receivable | 5,348,047 | (17,799,751) | (9,674,507) |
| Inventories | 260,281 | (187,543) | 113,661 |
| Prepayments | 1,398,808 | (4,683,841) | (5,292,606) |
| Deposits and other assets | (44,959) | (153,904) | (149,773) |
| Accounts payable | 483,945 | 727,800 | 341,525 |
| Contract liabilities | (32,470) | 310,151 | (173,101) |
| Lease liabilities | (268,367) | (497,449) | (253,605) |
| Accrued expenses and other payables | (450,913) | (1,567,492) | 1,213,891 |
| Taxes payable | 96,410 | 2,154,304 | (972,466) |
| Net cash used in operating activities | (1,344,032) | (6,313,115) | (1,019,964) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (42,315) | (2,853,678) | (2,638,488) |
| Interest-free advances made to a related party | (14,130) | ||
| Received repayment of Interest-free advance to a related party | 386,635 | ||
| Net cash used in investing activities | (42,315) | (2,467,043) | (2,652,618) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from short-term bank loans | 11,545,300 | 19,323,780 | 9,601,600 |
| Repayments of short-term bank loans | (17,811,755) | (10,983,780) | (7,483,600) |
| Proceeds from long-term loan | 6,391,228 | 2,780,000 | 2,548,794 |
| Payment of long-term loan | (2,282,213) | (806,764) | (194,041) |
| Proceeds from PIPE investment | 2,900,000 | ||
| Proceeds of Interest-free advances for operation from related parties | 882,548 | 20,910 | |
| Repayment of Interest-free advances for operation to a related party | (118,931) | (119,783) | |
| Payment of listing cost | (2,900,000) | (877,722) | |
| Net cash (used in)/provided by financing activities | (1,393,823) | 10,334,146 | 3,475,248 |
| Effect of exchange rate changes | 375,788 | (94,273) | (3,108) |
| Net change in Cash and restricted cash | (2,404,382) | 1,459,715 | (200,442) |
| Cash and restricted cash at beginning of year | 2,970,199 | 1,510,484 | 1,710,926 |
| Cash and restricted cash at end of the year | 565,817 | 2,970,199 | 1,510,484 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Cash paid for income taxes | 836,584 | 1,837,708 | 2,644,786 |
| Cash paid for interest | 737,671 | $ 576,752 | 285,833 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH FLOW INFORMATION: | |||
| Right-of-use assets obtained in exchange for operating lease liabilities | $ 19,701 | ||
| Listing expense paid by a related party | $ 234,967 | ||
CONSOLIDATED BALANCE SHEETS |
Dec. 31, 2025
USD ($)
|
Dec. 31, 2025
CNY (¥)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2024
CNY (¥)
|
||
|---|---|---|---|---|---|---|
| CURRENT ASSETS | ||||||
| Cash | $ 178,321 | $ 2,970,199 | ||||
| Restricted cash | 387,496 | |||||
| Accounts receivable, net | 42,528,919 | 46,575,776 | ||||
| Inventories | 1,085,783 | 1,296,577 | ||||
| Prepayments, net | 10,545,465 | 10,274,207 | ||||
| Deposits and other assets, net | 240,547 | 295,754 | ||||
| Due from related parties | $ 2,987 | $ 2,862 | ||||
| Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] | Related party | Related party | Related party | Related party | ||
| Total Current Assets | $ 54,969,518 | $ 61,415,375 | ||||
| NON-CURRENT ASSETS | ||||||
| Property and equipment, net | 6,370,900 | 7,141,064 | ||||
| Intangible assets, net | 8,626 | 16,528 | ||||
| Deferred tax assets | 762,289 | 714,461 | ||||
| Right-of-use assets | 175,160 | 475,119 | ||||
| Goodwill | 60,303 | 57,772 | ||||
| Prepayments - non current | 7,113,014 | 8,021,046 | ||||
| Deposits and other assets - non current | 241,205 | 121,505 | ||||
| Total Non-Current Assets | 14,731,497 | 16,547,495 | ||||
| Total Assets | 69,701,015 | 77,962,870 | ||||
| CURRENT LIABILITIES | ||||||
| Short-term bank loans | 10,431,850 | ¥ 72,950,000 | 16,166,000 | ¥ 118,000,000 | ||
| Tax payables | 3,098,410 | 2,873,453 | ||||
| Salaries and benefits payable | 678,214 | 797,912 | ||||
| Contract liability | 793,412 | 792,102 | ||||
| Short-term lease liabilities | 115,031 | 264,316 | ||||
| Accounts payable | 1,805,042 | 1,252,667 | ||||
| Amounts due to a related party | $ 4,888,289 | $ 3,703,700 | ||||
| Other Liability, Current, Related Party [Extensible Enumeration] | Related party | Related party | Related party | Related party | ||
| Accrued listing expenses payable | $ 5,163,238 | $ 5,341,848 | ||||
| Accrued expenses and other payables | 2,744,302 | 2,518,175 | ||||
| Deferred tax liabilities | 8,758 | 45,238 | ||||
| Long-term loan - current portion | 2,637,036 | 867,772 | ||||
| Total Current Liabilities | 32,363,582 | 34,623,183 | ||||
| NON-CURRENT LIABILITIES | ||||||
| Long-term lease liabilities | 27,637 | 136,683 | ||||
| Long-term loan - non current | 6,086,254 | 3,442,526 | ||||
| Total Non-Current Liabilities | 6,113,891 | 3,579,209 | ||||
| Total Liabilities | 38,477,473 | 38,202,392 | ||||
| Commitments and Contingencies (Note 20) | ||||||
| Equity | ||||||
| Preferred shares, $0.0001 par value; 5,000,000 shares authorized; 290,000 shares issued and outstanding as of December 31, 2025 and 2024 | 29 | 29 | ||||
| Ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 40,979,382 shares issued, 30,752,370 shares outstanding as of December 31, 2025; 35,728,625 shares issued,25,555,096 shares outstanding as of December 31, 2024 | [1] | 3,075 | 2,556 | |||
| Additional paid-in capital | [1] | 28,658,524 | 11,441,712 | |||
| Statutory reserve | 4,593,312 | 4,591,151 | ||||
| Retained earnings | (515,415) | 26,764,751 | ||||
| Accumulated other comprehensive loss | (1,371,894) | (3,141,061) | ||||
| Total Baird Medical Investment Holdings Limited's Shareholders' Equity | 31,367,631 | 39,659,138 | ||||
| Non-controlling interests | (144,089) | 101,340 | ||||
| Total Liabilities and Equity | $ 69,701,015 | $ 77,962,870 | ||||
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