RISING DRAGON ACQUISITION CORP COM USD0.0001 15/11/2028 (SUBS/RT) | 10-Q: FY2026 Q1 Revenue: USD 0

Revenue: As of FY2026 Q1, the actual value is USD 0.

EBIT: As of FY2026 Q1, the actual value is USD -549.6 K.

Net Income

RISING DRAGON ACQUISITION CORP. reported a net income of $211,963 for the three months ended March 31, 2026, which is a decrease from $453,867 for the same period in 2025.

Interest Income and Operating Costs

Interest income earned on investments in the Trust Account was $380,783 for the three months ended March 31, 2026, down from $597,157 for the corresponding period in 2025. Formation and operating costs increased to $168,820 for the three months ended March 31, 2026, compared to $143,290 for the three months ended March 31, 2025.

Cash and Working Capital

As of March 31, 2026, the company had $9,470 in cash in its operating bank account and a working capital deficit of approximately -$850,925. This compares to $37,174 in cash as of December 31, 2025. The investment held in the Trust Account increased to $45,052,492 as of March 31, 2026, from $44,388,583 as of December 31, 2025.

Cash Flow from Operating Activities

Net cash used in operating activities was -$260,504 for the three months ended March 31, 2026, an increase from -$125,290 for the same period in 2025.

Cash Flow from Investing Activities

Net cash used in investing activities amounted to -$283,126 for the three months ended March 31, 2026, including $16,874 withdrawn from the Trust Account for redemption and -$300,000 deposited into the Trust Account. There were no investing activities for the three months ended March 31, 2025.

Cash Flow from Financing Activities

Net cash provided by financing activities was $515,926 for the three months ended March 31, 2026, which included -$16,874 from redemption of ordinary shares, $232,800 from advances from related parties, and $300,000 from proceeds from promissory notes – related parties. For the same period in 2025, net cash provided by financing activities was $2,870, primarily from advances from related parties.

Future Outlook and Strategy

RISING DRAGON ACQUISITION CORP. is a blank check company focused on consummating a business combination and has a Merger Agreement with HZJL Cayman Limited for an aggregate consideration of $350 million. The deadline to complete the business combination has been extended to May 15, 2026, through deposits into the Trust Account. Management has identified that failure to complete a business combination within the prescribed period raises substantial doubt about the company’s ability to continue as a going concern, as it would lead to liquidation.