| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Operating Income | -$62K | — | +85.0% |
| Income Tax | $0 | — | — |
| Net Income | $45K | — | -75.4% |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Current Assets | $19K | +538.7% | +133.2% |
| Total Assets | $12.3M | +1.6% | -71.8% |
| Current Liabilities | $3.5M | +4.3% | +108.7% |
| Total Liabilities | $4.2M | +3.6% | +77.1% |
| Stockholders' Equity | -$4.2M | -3.2% | -76.9% |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Operating Cash Flow | -$75K | — | +66.7% |
| Investing Cash Flow | -$69K | — | -100.2% |
| Financing Cash Flow | $159K | — | +100.5% |
Business Overview
Aimei Health Technology Co., Ltd. is a blank check company incorporated in the Cayman Islands seeking to complete an initial business combination with a healthcare-focused target in the biopharmaceutical, medical technology, or diagnostics space. As of March 31, 2026, the Company had not commenced operations and has been focused on pursuing a business combination, with a definitive Business Combination Agreement entered into with United Hydrogen Group Inc. on June 19, 2024. The Company has extended its combination deadline multiple times through monthly extension payments funded by the Sponsor and United Hydrogen.
Segment Performance
The Company has no operating segments as it is a pre-combination blank check company with no revenue generation. For the three months ended March 31, 2026 versus March 31, 2025: general, administrative and operational costs decreased from $413,414 to $61,984; interest income on trust account cash decreased from $598,076 to $107,424 (reflecting lower trust account balances due to redemptions); and net income decreased from $184,662 to $45,440. The decrease in interest income reflects the significant shareholder redemptions that reduced funds available in the trust account.
Forward Guidance
There is no assurance that the Company's plans to consummate a business combination will be successful by July 6, 2026 (the Combination Deadline). Management has determined that if the Company is unsuccessful in consummating an initial business combination within the prescribed period of time, there is substantial doubt about the ability to continue as a going concern. The Company has a 12-month period from the Initial Public Offering closing (extendable to 24 months through monthly extensions) to consummate a business combination, after which it must cease operations, redeem public shares, and liquidate.
Key Risk Factors
The Company faces substantial doubt about its ability to continue as a going concern if it fails to consummate a business combination by the July 6, 2026 combination deadline. Significant shareholder redemptions have reduced the Company's capital base, with approximately 2.9 million and 2.95 million shares redeemed in February 2025 and November 2025 respectively. The Company maintains a working capital deficit of $3.5 million and relies on extension payments from the Sponsor and United Hydrogen to meet redemption obligations and operating costs. The Sponsor's indemnification obligations may be unenforceable given limited resources, and the Company's reliance on related-party funding creates dependency risk.