CN Healthy Food Tech Group Corp. reported Q1 2026 results showing strong sales growth but a swing to loss. Revenue rose to $5.83 million, up 20.8% year over year, while gross profit nearly doubled to $4.36 million with a 74.9% margin.
After higher operating expenses from share-based advisory costs and default interest on promissory notes, the company recorded a net loss of $0.31 million versus prior-year net income of $0.77 million. Cash stood at $29.7 million, and management concluded there is no substantial doubt about going concern.
Three promissory notes tied to the 2025 business combination remained in default with $3.47 million of principal accruing 15% default interest. Trading in the stock and warrants on Nasdaq has been halted since October 1, 2025, and the CSRC has imposed administrative fines totaling RMB 4.5 million on a PRC subsidiary and the CEO in connection with the overseas listing filing process.
CN Healthy Food Tech Group Corp. reported Q1 2026 results showing strong sales growth but a swing to loss. Revenue rose to $5.83 million, up 20.8% year over year, while gross profit nearly doubled to $4.36 million with a 74.9% margin.
After higher operating expenses from share-based advisory costs and default interest on promissory notes, the company recorded a net loss of $0.31 million versus prior-year net income of $0.77 million. Cash stood at $29.7 million, and management concluded there is no substantial doubt about going concern.
Three promissory notes tied to the 2025 business combination remained in default with $3.47 million of principal accruing 15% default interest. Trading in the stock and warrants on Nasdaq has been halted since October 1, 2025, and the CSRC has imposed administrative fines totaling RMB 4.5 million on a PRC subsidiary and the CEO in connection with the overseas listing filing process.
CN Healthy Food Tech Group Corp. reported that its subsidiaries Zhong Guo Liang Tou Group Limited and Heilongjiang Zhongneng Liangke Agricultural Technology received an Advance Notice of Administrative Penalty from the Heilongjiang bureau of the CSRC. The CSRC completed its investigation of the company’s merger with Iron Horse Acquisition Company and subsequent Nasdaq listing in September 2025 and determined the company did not complete mandatory offshore listing filing procedures under the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies. The bureau intends to impose fines of RMB3,000,000 (about $440,000) on Zhongneng Liangke and RMB1,500,000 (about $220,000) on CEO and chairman Zhenjun Jiang as the directly responsible executive. Zhongneng Liangke and Mr. Jiang may present a defense and request a hearing within five working days and are reviewing the Notice and their next steps.
CN Healthy Food Tech Group Corp. reported that its subsidiaries Zhong Guo Liang Tou Group Limited and Heilongjiang Zhongneng Liangke Agricultural Technology received an Advance Notice of Administrative Penalty from the Heilongjiang bureau of the CSRC. The CSRC completed its investigation of the company’s merger with Iron Horse Acquisition Company and subsequent Nasdaq listing in September 2025 and determined the company did not complete mandatory offshore listing filing procedures under the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies. The bureau intends to impose fines of RMB3,000,000 (about $440,000) on Zhongneng Liangke and RMB1,500,000 (about $220,000) on CEO and chairman Zhenjun Jiang as the directly responsible executive. Zhongneng Liangke and Mr. Jiang may present a defense and request a hearing within five working days and are reviewing the Notice and their next steps.
CN Healthy Food Tech Group Corp. is a Delaware holding company whose China-based subsidiaries develop, manufacture, and sell AI-driven, biotech health foods using grain-based and traditional Chinese medicine ingredients. The group operates an 18,000-square-meter production base in Heilongjiang and sells through over 10,000 offline specialty stores plus major Chinese e-commerce and social platforms.
The company completed a SPAC merger on September 30, 2025 and was renamed CN Healthy Food Tech Group Corp., with its stock and warrants listed on Nasdaq under “UCFI” and “UCFIW.” On October 1, 2025, Nasdaq halted trading after China’s securities regulator indicated its review of the U.S. listing was not complete, and trading has not resumed.
Management highlights significant risks from the trading halt, potential Nasdaq delisting, stringent PRC regulations over overseas listings, data and cybersecurity rules, and China’s evolving legal environment. As of March 31, 2026, 52,234,983 shares of common stock were outstanding. The company has not paid dividends and relies on China subsidiaries for upstreaming cash, subject to PRC profit, reserve, tax, and FX constraints.
CN Healthy Food Tech Group Corp. is a Delaware holding company whose China-based subsidiaries develop, manufacture, and sell AI-driven, biotech health foods using grain-based and traditional Chinese medicine ingredients. The group operates an 18,000-square-meter production base in Heilongjiang and sells through over 10,000 offline specialty stores plus major Chinese e-commerce and social platforms.
The company completed a SPAC merger on September 30, 2025 and was renamed CN Healthy Food Tech Group Corp., with its stock and warrants listed on Nasdaq under “UCFI” and “UCFIW.” On October 1, 2025, Nasdaq halted trading after China’s securities regulator indicated its review of the U.S. listing was not complete, and trading has not resumed.
Management highlights significant risks from the trading halt, potential Nasdaq delisting, stringent PRC regulations over overseas listings, data and cybersecurity rules, and China’s evolving legal environment. As of March 31, 2026, 52,234,983 shares of common stock were outstanding. The company has not paid dividends and relies on China subsidiaries for upstreaming cash, subject to PRC profit, reserve, tax, and FX constraints.