YHN Acquisition I Ltd, a company focused on identifying and evaluating target businesses for potential business combinations, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and key business activities, highlighting significant improvements in net income and strategic business developments.
Financial Highlights
Net Income: YHN Acquisition I Ltd reported a net income of $1.04 million for the nine months ended September 30, 2025, a significant turnaround from a net loss of $17,788 for the same period in 2024. This improvement was primarily driven by increased dividend income.
Quarterly Net Income: For the three months ended September 30, 2025, the company achieved a net income of $518,652, compared to $23,722 for the same period in 2024, reflecting higher dividend income.
Basic and Diluted Net Income Per Share (Ordinary Shares Subject to Possible Redemption): The company reported $0.21 for the nine months ended September 30, 2025, compared to $0.32 for the same period in 2024. For the three months ended September 30, 2025, the figure was $0.09, compared to $0.10 for the same period in 2024.
Basic and Diluted Net Loss Per Share (Ordinary Shares Not Subject to Possible Redemption): The company reported a net loss of $(0.12) for the nine months ended September 30, 2025, compared to $(0.05) for the same period in 2024. For the three months ended September 30, 2025, the net loss was $(0.02), compared to $(0.03) for the same period in 2024.
Business Highlights
Business Combination Agreement: On April 3, 2025, YHN Acquisition I Ltd entered into a Business Combination Agreement with Mingde Technology Limited, involving a merger and the creation of a publicly traded company listed on Nasdaq.
Amended and Restated Business Combination Agreement: On June 3, 2025, the agreement was amended to include an earnout mechanism, potentially increasing the consideration by up to $70,000,000 in Earnout Consideration Shares.
Amendment No. 1 to Business Combination Agreement: On November 7, 2025, the agreement was further amended to adjust the Merger Consideration and the earnout conditions, focusing on post-closing share price performance.
Initial Public Offering (IPO): The company completed its IPO on September 19, 2024, raising $60,000,000 through the sale of 6,000,000 units, each consisting of one ordinary share and one right.
Private Placement: Simultaneously with the IPO, the company completed a private placement of 250,000 units, generating $2,500,000 in proceeds.
Operational Focus: YHN Acquisition I Ltd is focused on identifying and evaluating target businesses for a potential business combination, with no operating revenues expected until the completion of such a transaction.
Future Outlook: The company aims to complete a business combination by December 18, 2025, and is actively pursuing potential targets to meet this deadline.
Segment Information: The company operates as a single segment, with its chief operating decision maker reviewing key metrics such as formation and operating costs, and interest and dividend income from investments held in the Trust Account.
SEC Filing: