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AFJKR

Aimei Health Technology Co., Ltd

AFJKR

Aimei Health Technology Co., Ltd • NASDAQ
$0.35 ▼ -2.72% (-0.01)
Market Cap $2.57 M
52w High $0.39
52w Low $0.35
Dividend Yield 0%
P/E 0
Volume 303
Outstanding Shares 7.34M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $130.151K ▲ $352.019K ▼ 0% $0.06 ▼ $352.019K ▲
Q2-2025 $0 $41.604K ▼ $424.97K ▲ 0% $0.069 ▲ $-41.604K ▼
Q1-2025 $0 $413.414K ▲ $184.662K ▼ 0% $0.021 ▼ $184.662K ▼
Q4-2024 $0 $402.021K ▲ $444.113K ▼ 0% $0.049 ▼ $444.113K ▼
Q3-2024 $0 $200.019K $743.51K 0% $0.082 $743.51K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.979K ▲ $45.469M ▲ $3.464M ▲ $42.004M ▲
Q2-2025 $2.138K ▼ $44.556M ▲ $2.904M ▲ $41.652M ▲
Q1-2025 $7.345K ▼ $43.603M ▼ $2.376M ▲ $41.227M ▼
Q4-2024 $28.208K ▼ $73.815M ▲ $1.507M ▲ $72.308M ▲
Q3-2024 $103.559K $72.785M $920.789K $71.864M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $352.019K ▼ $-96.109K ▲ $-450K $546.95K ▼ $841 ▲ $-96.109K ▲
Q2-2025 $424.97K ▲ $-201.75K ▲ $-450K ▼ $646.543K ▲ $-5.207K ▲ $-201.75K ▲
Q1-2025 $184.662K ▼ $-224.009K ▼ $30.788M ▲ $-30.585M ▼ $-20.863K ▲ $-224.009K ▼
Q4-2024 $444.113K ▼ $-195.131K ▼ $-277.7K ▼ $397.48K ▲ $-75.351K ▼ $-195.131K ▼
Q3-2024 $743.51K $-53.946K $0 $0 $-53.946K $-53.946K

Five-Year Company Overview

Income Statement

Income Statement AFJKR’s income statement is essentially a blank slate. It has no meaningful revenue and no operating business of its own yet, which is typical for a SPAC. The recent improvement in per‑share earnings is more an accounting outcome of the SPAC structure than a sign of a profitable underlying business. In practical terms, the current income statement tells you almost nothing about how the combined hydrogen company will eventually perform once the merger closes.

Balance Sheet

Balance Sheet The balance sheet is very small and simple, with a modest pool of assets, no reported debt, and equity roughly matching total assets. That is consistent with a shell company whose main purpose is to complete a merger, not to run ongoing operations. It also means there is no real cushion or asset base from AFJKR itself to support future growth; the financial strength of the post‑merger entity will depend on the trust funds, any additional capital raised, and United Hydrogen Group’s own assets and liabilities, which are not reflected here.

Cash Flow

Cash Flow Cash flow statements show no real activity: no operating cash inflows from a business, no investment outflows, and no meaningful capital spending. This fits the SPAC profile—AFJKR is a financial vehicle, not yet a cash‑generating company. The important cash flow story will only start after the business combination, when the combined company begins spending on plants, equipment, and network build‑out and, over time, hopefully generates operating cash from hydrogen operations.

Competitive Edge

Competitive Edge On its own, AFJKR has no competitive position; its role is simply to take another company public. The competitive picture really belongs to United Hydrogen Group. There, the story is more substantial: a full‑value‑chain hydrogen player in China with operations spanning production, storage, transport, refueling, and end‑use applications. Its strengths include an integrated ecosystem, experience running hydrogen stations and vehicles, and involvement in setting industry guidelines in China, all of which can create real barriers to entry. That said, hydrogen is still an emerging, policy‑driven, capital‑intensive market with many global players pushing in, so long‑term competitive strength will depend heavily on execution, cost control, and supportive regulation.

Innovation and R&D

Innovation and R&D AFJKR itself does not conduct R&D; its purpose is to merge with an operating company. The innovation story lies with United Hydrogen Group. It emphasizes an integrated “Hydrogen as a Service” model, smart “Hydrogen Super Plants,” and in‑house electrolysis technology aimed at producing low‑carbon hydrogen. The company is also experimenting with a service model that lowers upfront costs for customers and is expanding into applications like heavy trucks and refueling infrastructure. However, public details on the exact technological edge, real‑world performance, and cost advantage of these solutions are limited, so the true strength of its innovation will be judged over time by project execution, reliability, and achieved economics rather than by plans alone.

Summary

AFJKR today is a shell: no revenue, no operating business, very lean balance sheet, and no real cash flows—this is all normal for a SPAC. The real story is the planned merger with United Hydrogen Group, an integrated hydrogen player aiming to be a key part of the energy transition, especially in China and parts of Asia. The opportunity lies in a broad hydrogen ecosystem, early operational experience, and an ambitious technology and service model that could benefit from growing demand for clean fuels. The main risks are that the sector is still early and capital‑hungry, regulatory and policy support can shift, technological and cost claims need to be proven at scale, and integration after the SPAC merger must be managed carefully. Anyone following AFJKR is effectively evaluating the future prospects and execution risk of United Hydrogen Group, not the tiny financial footprint visible in AFJKR’s current statements.