Wed, May 14, 8:49 PM (29 days ago)
**Aimei Health Technology Co., Ltd. (AFJK) Q1 2025 Financial Summary** Aimei Health Technology Co., Ltd. (AFJK) reported its Q1 2025 financial results, highlighting its status as a blank check company focused on healthcare innovation. The company has not yet commenced operations and its activities are limited to formation and the initial public offering (IPO). **Financial Health and Performance Metrics:** - **Revenue:** AFJK reported no operational revenue, as expected for a blank check company pre-business combination. - **Profit Margins:** The company reported a net income of $184,662, primarily from interest earned on assets held in trust, offset by formation and operational costs of $413,414. - **Cash Flow:** AFJK had $7,345 in its operating bank account and $43,594,825 in its trust account as of March 31, 2025. The company had a working capital deficit of approximately $1,677,724. - **Earnings Changes:** Compared to Q1 2024, net income decreased from $755,500 to $184,662, reflecting higher operational costs. **Quarterly Performance Discussion:** - **Trends:** AFJK's financial trends are heavily influenced by its trust account investments and operational expenses. The company's liquidity is primarily derived from its IPO proceeds and private placement. - **Uncertainties:** The company faces significant uncertainties related to its ability to consummate a business combination within the prescribed period. Failure to do so could lead to liquidation and dissolution. - **Future Operations:** AFJK is focused on identifying and evaluating prospective target businesses for a business combination. The company has extended the timeframe for consummating a business combination until June 6, 2025. **Impact on Future Operations:** - **Business Combination:** AFJK's future operations and financial health are contingent on the successful completion of a business combination. The company has entered into a definitive agreement with United Hydrogen Group Inc. for a potential merger. - **Going Concern:** The company's ability to continue as a going concern is dependent on the successful completion of a business combination within the extended timeframe. **Conclusion:** AFJK's Q1 2025 financial results reflect its status as a blank check company with no operational revenue. The company's financial health is primarily supported by its trust account investments and IPO proceeds. AFJK's future operations and financial performance are contingent on the successful completion of a business combination.