CN Healthy Food Tech Group Corp. reported significant financial growth in its latest 10-Q filing for the third quarter of 2025, following its recent merger with Iron Horse Acquisition Corp. The company generated $7.9 million in revenue for the three months ending September 30, 2025, an increase of 84.1% compared to $4.3 million in the same period last year. For the nine months ended September 30, 2025, revenue reached $19.9 million, marking a substantial 278.4% increase from $5.3 million in the prior year. The growth was attributed to strategic promotional campaigns and new product launches aimed at expanding the customer base.
The company's gross profit for the third quarter was $5.6 million, up 88.8% from $2.9 million in the same quarter of 2024. For the nine-month period, gross profit surged to $12.6 million, a 262.3% increase from $3.5 million year-over-year. Operating income also saw a significant rise, reaching $4.6 million for the third quarter, nearly doubling from $2.3 million in the previous year, while the nine-month operating income increased to $9.3 million from $2.7 million.
In terms of operational metrics, CN Healthy Food Tech's total current assets as of September 30, 2025, were reported at $46.2 million, compared to $44.0 million at the end of 2024. The company’s cash and cash equivalents stood at $37.2 million, down from $41.4 million at the end of the previous year, reflecting cash outflows primarily due to increased inventory and prepayments. The company also reported a total stockholders' equity of $17.7 million, up from $10.8 million at the end of 2024, indicating a strengthening financial position.
The filing also highlighted the impact of the recent business combination, which was treated as a reverse recapitalization. This merger has positioned CN Healthy Food Tech to leverage its operational capabilities in the health and wellness food industry, focusing on natural, grain-based health foods. The company operates through two segments: wholesale distribution and live-stream sales, which accounted for approximately 81.5% and 18.5% of total revenue, respectively, for the nine months ended September 30, 2025.
Looking ahead, the company expressed optimism about its growth trajectory, although it acknowledged potential challenges related to regulatory scrutiny from the China Securities Regulatory Commission (CSRC) following its Nasdaq listing. The company is currently working to resolve these issues and believes it has met its obligations regarding compliance. The management remains focused on expanding its product offerings and customer base while navigating the complexities of operating in the Chinese market.
About Iron Horse Acquisitions Corp.
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