The company remains in a pre-revenue development stage, reporting zero operational revenue across all observed periods while sustaining quarterly operating losses that peaked at $668.3K in 2025Q2.
YHN Acquisition I Limited (YHNA) annual income statement — 2-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 |
|---|
| Net Interest Income | 8 | 29 | 211 |
| NII Growth % | -375.68% | -86.26% | - |
| Net Interest Margin % | 0% | 0% | 0% |
| Interest Income | 8 | 29 | 211 |
| Interest Expense | 0 | 0 | 0 |
| Loan Loss Provision | 0 | 0 | 0 |
| Non-Interest Income | -8 | -29 | -211 |
| Non-Interest Income % | - | - | - |
| Total Net Revenue | 0 | 0 | 0 |
| Revenue Growth % | - | - | - |
| Non-Interest Expense | 646.87K | 1.14M | 286.65K |
| Efficiency Ratio | - | - | - |
| Operating Income | -410.76K | -1.14M | -286.65K |
| Operating Margin % | - | - | - |
| Operating Income Growth % | - | -296.62% | - |
| Pretax Income | 1.01M | 1.33M | 502.64K |
| Pretax Margin % | - | - | - |
| Income Tax | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% |
| Net Income | 1.01M | 169.97K | 502.64K |
| Net Margin % | - | - | - |
| Net Income Growth % | -5.03% | -66.18% | - |
| Net Income (Continuing) | 1.01M | 169.97K | 502.64K |
| EPS (Diluted) | 0.40 | 0.02 | 0.01 |
| EPS Growth % | -37.19% | - | - |
| EPS (Basic) | - | 0.02 | 0.01 |
| Diluted Shares Outstanding | 2.54M | 5.8M | 7.75M |
Quick answers to the most common questions about buying YHNA stock.
For fiscal year 2025, YHN Acquisition I Limited (YHNA) reported total revenue of $0.0M.
YHN Acquisition I Limited (YHNA) is profitable, generating $0.2M in net income for the fiscal year ending 2025.
Key Metrics
Top Statement Risk
Execution and Liquidation Risk
Metrics are mathematically derived from official filings.
Pre-Revenue Status Limits Growth
As a blank check vehicle, YHNA reports zero operational revenue across all observed periods, as indicated by the provided financial statements, confirming the company remains in a pre-revenue development stage while it seeks a suitable business combination within the competitive Hong Kong financial services landscape.
The absence of revenue is consistent with the entity's structure as a SPAC, where growth is binary and contingent upon a successful merger. Investors should monitor the timeline for a definitive agreement, as the current lack of operational activity provides no organic growth trajectory to evaluate.
Administrative Burn Rate Remains Volatile
Based on reported quarterly figures, YHNA exhibits an inconsistent operating expense profile, with quarterly operating losses peaking at $668.3K in 2025Q2, reflecting the high fixed costs associated with regulatory compliance and deal-sourcing efforts typical of a shell company operating in the Greater Bay Area.
The fluctuation in operating losses suggests that administrative costs are not strictly linear and may be tied to specific milestones or legal requirements. This volatility warrants further investigation into the company's ability to manage its limited cash reserves while maintaining its listing status.
Non-Operating Items Distort Net Income
As reported in financial statements, YHNA's net income frequently diverges from its operating losses, with a notable $518.7K profit in 2025Q3, suggesting that non-operating items such as warrant liability adjustments are significantly impacting the bottom line rather than core operational performance.
These non-cash gains or losses create a misleading picture of the company's financial health, as they do not reflect actual cash generation. Analysts should focus on the operating loss trend rather than net income to understand the true burn rate of the sponsor's capital.
Capital Constraints Threaten Operational Viability
With a reported cash balance of only $140,550, the company faces significant liquidity risks, as evidenced by the need to sustain ongoing professional fees while simultaneously navigating a cooling SPAC market that may limit the availability of high-quality merger targets in the region.
The limited cash position suggests that YHNA may be forced to seek additional financing or risk liquidation if a target is not identified promptly. This structural vulnerability implies that the sponsor's ability to execute a deal is constrained by the company's current financial runway.