The balance sheet reflects a precarious capital structure, with total assets collapsing from $62.5 million in 2025Q2 to $3.5 million in 2026Q1, leaving the firm with a current ratio of only 0.01.
YHN Acquisition I Limited (YHNA) balance sheet — 2-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 |
|---|
| Cash & Short Term Investments | 118.19M | 27.19M | 669.25K |
| Cash & Due from Banks | 26.56K | 140.55K | 669.25K |
| Short Term Investments | 27.83M | 27.05M | 0 |
| Total Investments | 27.83M | 27.05M | 7.86M |
| Investments Growth % | 136.9% | 243.97% | - |
| Long-Term Investments | 11.6M | 0 | 7.86M |
| Accounts Receivables | 0 | 0 | 0 |
| Goodwill & Intangibles | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 0 |
| Other Assets | 27.83M | 27.05M | 53.22M |
| Total Current Assets | 71.53K | 153.47K | 719.74K |
| Total Non-Current Assets | 27.83M | 27.05M | 61.09M |
| Total Assets | 27.9M | 27.2M | 61.81M |
| Asset Growth % | -253.92% | -55.99% | - |
| Return on Assets (ROA) | 4.46% | 0.38% | 0.81% |
| Accounts Payable | 0 | 0 | 0 |
| Total Debt | 1.28M | 0 | 0 |
| Net Debt | 1.26M | -140.55K | -669.25K |
| Long-Term Debt | 0 | 0 | 0 |
| Short-Term Debt | 1.28M | 0 | 0 |
| Other Liabilities | 191.28K | 0 | 0 |
| Total Current Liabilities | 1.33M | 845.66K | 125.06K |
| Total Non-Current Liabilities | 191.28K | 1.5M | 1.5M |
| Total Liabilities | 30.67M | 2.35M | 1.63M |
| Total Equity | -2.76M | 24.86M | 60.18M |
| Equity Growth % | -354.15% | -58.7% | - |
| Equity / Assets (Capital Ratio) | -9.9% | 91.38% | 97.37% |
| Return on Equity (ROE) | 14.75% | 0.4% | 0.84% |
| Book Value per Share | -1.09 | 4.29 | 7.77 |
| Tangible BV per Share | -1.09 | 4.29 | 7.77 |
| Common Stock | 3.55M | 27.05M | 61.09M |
| Additional Paid-in Capital | 0 | 0 | 0 |
| Retained Earnings | -352.32K | -2.19M | -905.32K |
| Accumulated OCI | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 |
Quick answers to the most common questions about buying YHNA stock.
As of 2025, YHN Acquisition I Limited (YHNA) had total assets of $27.2M including $0.2M in current assets.
YHN Acquisition I Limited (YHNA) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
YHN Acquisition I Limited (YHNA) has total shareholders' equity (book value) of $24.9M ($4.29 book value per share). Book value represents the net worth of the company belonging to common stock holders.
YHN Acquisition I Limited (YHNA) reported a current ratio of 0.18x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Liquidation and Capital Exhaustion
Metrics are mathematically derived from official filings.
Eroding Capital Base Signals Instability
As reported in financial statements, YHNA's total assets plummeted from $62.5 million in 2025Q2 to a mere $3.5 million by 2026Q1, indicating a rapid depletion of the vehicle's capital base as the company struggles to maintain its listing status without a finalized business combination.
The dramatic contraction in asset size suggests that the entity is likely returning capital to shareholders or exhausting its trust account to cover operational burn. This trajectory implies that the company is approaching a critical juncture where its ability to sustain ongoing administrative costs is severely compromised.
Liquidity Buffer Near Total Depletion
Based on the 2026Q1 balance sheet, YHNA's cash position has dwindled to just $2.9K, representing a catastrophic decline from the $62.4 million reported in 2025Q2, which leaves the company with virtually no buffer to meet its ongoing regulatory and professional service obligations.
A current ratio of 0.01 confirms that the company lacks the liquid assets necessary to cover its short-term liabilities. Investors should monitor this extreme liquidity constraint, as it suggests the entity may be unable to continue as a going concern without an immediate capital injection.
Equity Erosion Reflects Structural Weakness
According to the provided quarterly data, YHNA's equity position has deteriorated significantly, falling from a peak of $60.7 million in 2025Q2 to $3.2 million in 2026Q1, largely driven by persistent negative retained earnings that now total approximately $316.9K as of the most recent period.
The consistent accumulation of negative retained earnings highlights the absence of operational revenue to offset the high fixed costs of maintaining a SPAC. This erosion of equity suggests that the value proposition for shareholders has been severely diluted by the ongoing burn of formation capital.
Hidden Risks in Asset Volatility
As indicated by the historical data, the extreme volatility in total assets, which swung from $155K in 2024Q2 to $62.5M in 2025Q2 before collapsing, suggests that headline figures are highly sensitive to temporary trust account inflows and outflows rather than underlying business growth.
The reliance on trust account fluctuations makes the balance sheet a poor indicator of operational health, as these assets are restricted and subject to redemption. Analysts should view the current $3.5 million asset figure as a sign of potential liquidation risk rather than a foundation for future deal-making.