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RDAC

Rising Dragon Acquisition Corp.

RDAC

Rising Dragon Acquisition Corp. • NASDAQ
$9.70 ▼ -3.10% (-0.31)
Market Cap $72.74 M
52w High $16.43
52w Low $9.70
Dividend Yield 0%
P/E 0
Volume 9.76K
Outstanding Shares 7.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $0 ▼ $452.318K ▲ 0% $-0.02 ▼ $452.318K ▲
Q2-2025 $0 $209.466K ▲ $398.981K ▼ 0% $0.053 ▼ $-209.466K ▼
Q1-2025 $0 $143.29K ▼ $453.867K ▲ 0% $0.06 ▼ $-143K ▲
Q4-2024 $0 $235.283K ▲ $307.763K ▲ 0% $0.13 ▲ $-235K ▼
Q3-2024 $0 $11.39K $-11.39K 0% $-0.01 $-11.39K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.62K ▼ $60.164M ▲ $1.964M ▲ $-1.958M ▼
Q2-2025 $83.406K ▼ $59.641M ▲ $1.893M ▲ $57.748M ▲
Q1-2025 $270.259K ▼ $59.24M ▲ $1.891M ▼ $57.349M ▲
Q4-2024 $392.679K ▲ $58.786M ▲ $60.222M ▲ $-1.436M ▼
Q3-2024 $100 $157.186K $182.436K $-25.25K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $452.318K ▲ $-144.786K ▲ $0 $67K ▲ $-77.786K ▲ $-144.786K ▲
Q2-2025 $398.981K ▼ $-186.853K ▼ $0 $0 ▼ $-186.853K ▼ $-186.853K ▼
Q1-2025 $453.867K ▲ $-125.29K ▲ $0 ▲ $2.87K ▼ $-122.42K ▼ $-125.29K ▲
Q4-2024 $307.763K ▲ $-275.783K ▼ $-69.345K ▼ $70.157K ▲ $392.579K ▲ $-275.783K ▼
Q3-2024 $-11.39K $-21.39K $0 $21.39K $0 $-21.39K

Five-Year Company Overview

Income Statement

Income Statement RDAC’s historical income statement is essentially a blank slate. As a pre‑merger SPAC, it had no real operating business, no meaningful revenue, and no ongoing expenses beyond basic listing and administrative costs. The small positive earnings per share mainly reflect SPAC structure mechanics rather than a proven, scalable business model. Going forward, the income statement will be driven almost entirely by the operations of HZJL Cayman Limited, which does not yet show up in this simple historical snapshot. That means past figures say very little about the future earnings power or profitability of the combined company.

Balance Sheet

Balance Sheet The balance sheet shown is very lean and typical of a SPAC before it completes a merger: a small equity base, minimal assets, and no operating liabilities or debt in any meaningful sense. It functions more as a financing shell than as a full business. The real test of balance sheet strength will come after the merger with HZJL is fully reflected: how much cash is actually available after any SPAC redemptions, what level of debt (if any) is taken on, and how much tangible backing there is for the new business. At this stage, the published balance sheet mostly tells you that RDAC had very little financial complexity before the deal.

Cash Flow

Cash Flow Reported cash flow is basically flat because the SPAC did not run an operating business. Cash movements would have been tied to IPO proceeds, trust arrangements, and deal costs, none of which appear here in detail. There is no history yet of the kind of cash inflows and outflows that matter for an operating company: customer receipts, supplier payments, salaries, or ongoing investment. After the merger, cash flow quality will depend on HZJL’s ability to turn its service offering into steady, recurring cash and to fund growth without consistently consuming large amounts of cash from financing activities.

Competitive Edge

Competitive Edge Pre‑merger, RDAC had no real competitive position; it was simply a listed vehicle searching for a target. The strategic story now rests on HZJL Cayman Limited. HZJL aims to serve small and mid‑sized “lifestyle” businesses—restaurants, cafés, salons—with an integrated bundle of branding, software, and supply chain solutions. This one‑stop approach could make the company an important partner for smaller businesses that lack in‑house expertise. Its focus on a specific niche may allow deeper specialization and stickier customer relationships. However, it operates in a space with many point-solution competitors—marketing agencies, software vendors, logistics providers—so execution and differentiation will matter far more than the SPAC’s prior market position.

Innovation and R&D

Innovation and R&D The innovation story is centered on HZJL’s integrated model rather than on RDAC itself. HZJL is trying to combine three elements—online branding, proprietary operations software, and tailored supply chain services—into a single, coordinated offering for local lifestyle businesses. The software aims to give small businesses tools that usually only larger companies enjoy, while its marketing and supply chain services are designed to reinforce each other. Future innovation will likely come from expanding software functionality (for example, analytics and business intelligence), enhancing data‑driven marketing, and building partnerships or acquisitions that deepen the ecosystem around its clients. Because public disclosures about the technology are still relatively high level, there is uncertainty about how advanced and defensible these tools truly are versus more established platforms.

Summary

RDAC’s historical financials mostly reflect its life as a SPAC: nearly no revenue, minimal assets, and no meaningful operating cash flow. The real story begins with the merger into HZJL Cayman Limited, which brings an actual operating business focused on empowering local lifestyle companies through an integrated mix of branding, software, and supply chain support. The opportunity lies in turning that integrated, niche‑focused model into durable revenue and cash flow, and in scaling it to new regions and verticals. Key open questions include the strength of HZJL’s technology relative to alternatives, the stickiness of its customer relationships, how much cash the combined company truly has to fuel growth, and how quickly it can reach sustainable profitability. In short, historical RDAC numbers provide limited guidance; the outlook now depends heavily on HZJL’s execution, competitive differentiation, and post‑merger financial performance over the next several reporting periods.

NEWS

October 15, 2025 · 4:00 PM UTC

Rising Dragon Acquisition Corp. Announces Postponement of the Extraordinary General Meeting to November 20, 2025 and Extension of Redemption Request Deadline

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