YHN Acquisition I Ltd
Business
YHN Acquisition I Ltd is a blank check company formed to identify and effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more target businesses. It provides acquisition and de‑SPAC services, including sourcing targets, performing diligence, negotiating and structuring transactions, and facilitating public listings. Its components include a sponsor and management team, an oversight board and a trust account; it has executed a letter of intent regarding a potential combination with a Cayman/China operating group. It targets companies primarily in Asia, including Hong Kong and mainland China, while using U.S. public markets and shareholder approval or tender offers to consummate transactions.
Summary from filing dated 2025-03-20
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Formation and operating costs | −1 | −286,649 | |
| Dividend income | 2 | 789,076 | |
| Interest income | 29 | 211 | |
| Total other income | 2 | 789,287 | |
| NET INCOME | 1 | 502,638 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Cash | 140,550 | 669,250 | 0 | |
| Prepayments | 12,923 | 50,485 | — | |
| Total current assets | 153,473 | 719,735 | — | |
| Cash and marketable securities held in trust | 27 | 61 | — | |
| TOTAL ASSETS | 27 | 62 | — | |
| Accrued expenses | 55,626 | 64,997 | 3,680 | |
| Amount due to sponsor | 790,038 | 60,059 | — | |
| Total Current Liabilities | 845,664 | 125,056 | 3,680 | |
| Deferred underwriting compensation | 2 | 2 | — | |
| TOTAL LIABILITIES | 2 | 2 | 3,680 | |
| Commitments and contingencies (Note 7) | — | — | — | |
| Ordinary shares subject to possible redemption, 2,535,821 and 6,000,000 shares, respectively (at redemption price of $10.67 and $10.18 per share, respectively) | 27 | 61 | — | |
| Ordinary shares, no par value; 500,000,000 shares authorized; 1,750,000 and 1,750,000 shares issued and outstanding (excluding 2,535,821 and 6,000,000 shares, subject to possible redemption), respectively | 0 | 0 | 25,000 | |
| Accumulated deficit | −2 | −905,321 | −3,680 | |
| Total Shareholders Deficit | −2 | −905,321 | −3,680 | |
| TOTAL LIABILITIES AND SHAREHOLDERS DEFICIT | 27 | 62 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Prepayments | 37,562 | −50,485 | |
| Accrued expenses | −9,371 | 61,317 | |
| Net cash used in operating activities | −1 | −275,606 | |
| Cash withdrawn from Trust Account in connection to redemption | 37 | 0 | |
| Proceeds deposited in Trust Account | −150,000 | −60 | |
| Net cash provided by (used in) investing activities | 37 | −60 | |
| Proceeds from public offering, net of offering costs | 0 | 59 | |
| Proceeds from private placement | 0 | 3 | |
| Capital contribution paid | 0 | 25,000 | |
| Proceeds from promissory note - related party | 0 | 173,000 | |
| Repayment to related party under promissory note | 0 | −173,000 | |
| Redemption of ordinary shares | −37 | 0 | |
| Advance from sponsor | 729,979 | 60,059 | |
| Net cash (used in) provided by financing activities | −36 | 61 | |
| NET CHANGE IN CASH | −528,700 | 669,250 | |
| Deferred offering costs paid by related party | 0 | 108,663 | |
| Initial classification of ordinary shares subject to possible redemption | 0 | 56 | |
| Accretion of carrying value to redemption value | 0 | 7 | |
| Subsequent remeasurement of ordinary shares subject to possible redemption | 3 | 789,076 | |
| Accrued underwriting compensation | 0 | 2 |