BEST SPAC I Acquisition Corp. Reports $649,853 Net Income for Year Ended December 31, 2025

BEST SPAC I Acquisition Corp. has reported its financial performance for the year ended December 31, 2025, in its annual Form 10-K filing. The company, which is a blank check entity incorporated in the British Virgin Islands, generated a net income of $649,853, a significant turnaround from a net loss of $3,000 in the previous fiscal period. This positive result was primarily driven by interest income of $1,226,393 from investments held in a trust account, alongside a gain of $74,829 from the expiration of an over-allotment option liability. General and administrative expenses totaled $651,369 for the year.

The company completed its initial public offering (IPO) on June 16, 2025, raising gross proceeds of $55 million by selling 5.5 million units at $10 each. In conjunction with the IPO, BEST SPAC I also executed a private placement of 277,000 units, generating an additional $2.77 million. As of December 31, 2025, the company had $56.2 million in marketable securities held in the trust account, reflecting a substantial increase from zero in the prior year. The total assets of the company reached $57.6 million, compared to $27,500 at the end of 2024.

Strategically, the company has entered into a merger agreement with HDEducation Group Limited, which is expected to close within the next year. The agreement stipulates that the total consideration for the merger will be $300 million, paid entirely in stock. This merger is a critical step in the company’s strategy to identify and execute a business combination, which is a requirement for its continued operation as a public entity. The company has until June 16, 2026, to complete this business combination, with the possibility of extending this period by an additional six months.

Operationally, BEST SPAC I has not yet commenced any business operations, as all activities to date have been focused on organizational tasks and preparing for the IPO. The company currently has one officer and no full-time employees, with plans to expand its workforce following the completion of a business combination. As of February 9, 2026, the company had 6,024,500 Class A ordinary shares and 1,375,000 Class B ordinary shares issued and outstanding.

Looking ahead, the company acknowledges the risks associated with its ability to complete a business combination within the specified timeframe. If it fails to do so, it may face mandatory liquidation and dissolution. The management has expressed confidence in its ability to identify suitable acquisition targets, leveraging the experience and networks of its management team. However, the company also recognizes the uncertainties in the current market environment, which could impact its plans and operations.