YHN Acquisition I Limited Reports Q1 2025 Financial Results with Net Income Turnaround

YHN Acquisition I Limited reported its financial results for the first quarter of 2025, revealing a net income of $547,299, a significant turnaround from a net loss of $25,346 in the same period of 2024. The company, which is a blank check firm incorporated in December 2023, has not yet commenced operations but has generated non-operating income primarily from dividend income amounting to $639,703. This marks a notable increase in revenue compared to the previous year, where the company reported minimal other income.

The company's total assets as of March 31, 2025, stood at $62.36 million, up from $61.81 million at the end of 2024. This increase is attributed to a rise in cash and marketable securities held in trust, which grew to $61.73 million from $61.09 million. However, the company also reported an accumulated deficit of $997,725, an increase from $905,321 at the end of the previous fiscal year, reflecting ongoing operational costs and expenses associated with its formation and initial public offering.

In terms of operational metrics, YHN Acquisition I Limited has maintained its structure with 1.75 million ordinary shares issued and outstanding, alongside 6 million shares subject to possible redemption. The company’s cash position decreased to $537,012 from $669,250, indicating cash outflows primarily related to operating activities. The total current liabilities slightly increased to $129,059 from $125,056, primarily due to an increase in amounts due to the sponsor.

Strategically, YHN Acquisition I Limited is focused on completing a business combination, which is a key objective for the company. The management has broad discretion regarding the application of net proceeds from its initial public offering, which raised $60 million in gross proceeds. The company has until December 18, 2025, to consummate a business combination, and it has outlined plans to utilize the funds held in trust for this purpose. The company’s management has indicated that it will only proceed with a business combination if it meets specific financial criteria, including having net tangible assets of at least $5 million.

Looking ahead, YHN Acquisition I Limited remains in the early stages of its business development, with no operational revenues expected until a business combination is completed. The company is actively seeking opportunities for acquisition and is positioned to leverage its financial resources to identify suitable targets. The management's focus on strategic growth and the completion of a business combination will be critical as the company navigates the challenges associated with being an emerging growth entity.