Bowen Acquisition Corp has reported its financial results for the second quarter of 2026, revealing a net income of $1,090,307 for the three months ending June 30, 2026, compared to a net income of $750,303 for the same period in 2025. The company’s revenue primarily stems from interest income on investments held in a trust account, which totaled $59,806 for the quarter. For the first half of 2026, Bowen reported a net income of $1,069,485, a significant recovery from a net loss of $1,289,691 in the first half of 2025. The improvement in profitability is attributed to a gain on the settlement of a Forward Purchase Agreement (FPA) liability amounting to $1,096,351.
In terms of financial position, Bowen's total assets decreased to $2,361,352 as of June 30, 2026, down from $7,933,900 at the end of 2025. This decline is largely due to a reduction in cash and cash equivalents, which fell to $4,093 from $12,280, and a significant decrease in investments held in the trust account, which dropped to $2,190,570 from $7,673,771. The company’s liabilities also decreased, with total current liabilities at $1,599,037 compared to $2,630,588 at the end of the previous fiscal year.
Operationally, Bowen has not yet commenced any business operations since its inception in February 2023, focusing instead on preparing for a business combination. The company has been actively pursuing a merger with Shenzhen Qianzhi BioTechnology Co. Ltd., with the business combination agreement signed on January 18, 2024. As of June 30, 2026, Bowen had 188,742 public shares remaining after several rounds of shareholder redemptions, reflecting ongoing efforts to extend the timeline for completing the business combination.
The company has faced challenges, including a working capital deficit of $1,428,255, raising concerns about its ability to continue as a going concern. Bowen has obtained shareholder approval to extend the deadline for completing its business combination to December 31, 2026, and plans to address working capital shortfalls through loans from sponsors or affiliates. The company is also exploring options to maintain its public trading status, including potential listings on the OTC market.
Looking ahead, Bowen Acquisition Corp remains focused on finalizing its business combination with Qianzhi, while managing its financial position and operational costs. The company anticipates incurring significant expenses related to its public company status and the business combination process, which may impact its liquidity in the near term.
About Bowen Acquisition Corp
Bowen Acquisition Corp is a Cayman Islands-based blank check company formed to effect mergers, share exchanges, asset acquisitions, or similar business combinations. It raises capital through public offerings to acquire or merge with target businesses, primarily focusing on opportunities in Asia but without industry or geographic restrictions. The company operates by identifying and combining with private entities to create publicly traded companies, leveraging sponsor and management expertise for deal sourcing and execution.
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