Chenghe Acquisition III Co. Reports $884,748 Net Income in Q1 2026, Driven by Interest Income

Chenghe Acquisition III Co. reported its financial results for the first quarter of 2026, revealing a net income of $884,748, primarily driven by interest income of $1,061,505 from cash held in its Trust Account. This marks a significant improvement compared to the same period in 2025, when the company recorded a net loss of $19,632. The increase in net income is attributed to the interest earned on the funds raised during the company's Initial Public Offering (IPO), which was completed on September 17, 2025, generating gross proceeds of $126.5 million.

As of March 31, 2026, Chenghe Acquisition III Co. reported total assets of $129.6 million, a slight increase from $128.7 million at the end of 2025. The company's cash balance decreased to $593,663 from $696,825, while cash held in the Trust Account rose to $128.9 million from $127.9 million. The company’s liabilities also increased, with total current liabilities rising to $242,174 from $178,499, largely due to an increase in accounts payable and amounts due to related parties.

The company has not yet commenced any operations and is focused on identifying a target for its initial business combination. Chenghe Acquisition III Co. has not selected any potential target as of the reporting date. The company continues to incur costs related to its public company status and the pursuit of acquisition opportunities. As of the end of the first quarter, the company had an accumulated deficit of $4.6 million and a shareholders' deficit of $4.6 million, indicating ongoing financial challenges.

Looking ahead, Chenghe Acquisition III Co. plans to utilize the funds held outside the Trust Account to evaluate potential business combinations and cover operational expenses. The company has indicated that it may require additional funding through loans from its co-sponsors or affiliates to meet working capital needs. Management has expressed concerns regarding liquidity, noting that if the company fails to complete an initial business combination within the designated timeframe, it may be required to liquidate. The company has until March 17, 2027, to complete this transaction, raising uncertainty about its future operations.