What changed in this filing

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Item 1. Financial Statements

2025-05-14 compared with 2024-11-13 · 641 added, 586 removed, 109 unchanged (92% of the section changed)

Financial Statements

HEALTH TECHNOLOGY CO., LTD

BALANCE SHEETS

September 30, 2024

AIMEI HEALTH TECHNOLOGY CO., LTD

UNAUDITED BALANCE SHEETS

March 31, 2025

December 31, 2024

2 unchanged sentences

Total current assets

Cash and marketable securities held in Trust Account

Cash held in Trust Account

LIABILITIES, TEMPORARY EQUITY AND SHAREHOLDERS’ DEFICIT

1 unchanged sentence

Accrued expenses

Extension loan – related party

Due to a related company

Total current liabilities

Deferred underwriting compensation

Deferred underwriter fee payable

TOTAL LIABILITIES

Commitments and contingencies

Commitments and contingencies (Note 7)

Ordinary shares, subject to possible redemption.

6,900,000 and 6,900,000 shares issued and outstanding at redemption value of $ 10.53 and $ 10.13 as of September 30, 2024 and December 31, 2023, respectively

3,995,773 and 6,900,000 shares issued and outstanding at redemption value of $ 10.91 and $ 10.69 , as of March 31, 2025 and December 31, 2024, respectively

Shareholders’ deficit:

1 unchanged sentence

500,000,000 shares authorized;

2,126,000 and 2,126,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively (excluding 6,900,000 and 6,900,000 shares subject to possible redemption, respectively)

2,126,000 and 2,126,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively (excluding 3,995,773 and 6,900,000 shares subject to possible redemption, respectively)

Accumulated deficit

( 2,367,937 )

( 1,476,823 )

Total shareholders’ deficit

( 2,367,724 )

( 1,476,610 )

TOTAL LIABILITIES, TEMPORARY EQUITY AND SHAREHOLDERS’ DEFICIT

accompanying notes to unaudited financial statements.

HEALTH TECHNOLOGY CO., LTD

STATEMENTS OF OPERATIONS

Three months ended

September 30,

Three months ended

September 30,

Nine months ended

September 30,

Period from April 27, 2023 (inception) to

September 30,

The accompanying notes are an integral part of these

unaudited financial statements.

AIMEI HEALTH TECHNOLOGY CO., LTD

UNAUDITED STATEMENTS OF OPERATIONS

For the three

March 31, 2025

March 31, 2024

Formation and operating costs

1 unchanged sentence

$ ( 153,632 )

Loss from operations

Other income:

Interest earned on investments held in trust

Interest earned on assets held in trust

Total other income

NET INCOME (LOSS)

Basic and diluted weighted average shares outstanding, ordinary shares subject to possible redemption

1 unchanged sentence

Basic and diluted weighted average shares outstanding, ordinary shares attributable to not subject to possible redemption

Basic and diluted net income (loss) per share, ordinary shares attributable to not subject to possible redemption

of September 30, 2023 excludes up to an aggregate of 187,500 ordinary shares subject to forfeiture to the extent that the underwriters’

over-allotment option is not exercised in full or in part (see Note 5).

As a result of the underwriters’ full exercise of their

over-allotment option on December 6, 2023, no founder shares are currently subject to forfeiture for September 30, 2024.

accompanying notes to unaudited financial statements.

HEALTH TECHNOLOGY CO., LTD

STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT

Nine Months Ended September 30, 2024

Basic and diluted net income per share, ordinary shares attributable to not subject to possible redemption

The accompanying notes are an integral part of these

unaudited financial statements.

AIMEI HEALTH TECHNOLOGY CO., LTD

UNAUDITED STATEMENTS OF CHANGES IN SHAREHOLDERS’

For The Three Months Ended March 31, 2025

Ordinary shares

Stockholder’s

Balance as of December 31, 2023

shareholders’

Balance as of January 1, 2025

$ ( 1,476,823 )

$ ( 1,476,610 )

Extension funds attributable to common stock subject to redemption

Remeasurement of ordinary shares subject to possible redemption

1 unchanged sentence

$ ( 2,367,937 )

Remeasurement of ordinary shares subject to possible redemption

$ ( 2,367,724 )

Balance as of June 30, 2024

For The Three Months Ended March 31, 2024

Ordinary shares

shareholders’

Balance as of January 1, 2024

$ ( 134,337 )

$ ( 134,124 )

$ ( 134,337 )

$ ( 134,124 )

Remeasurement of ordinary shares subject to possible redemption

Balance as of September 30, 2024

Balance as of March 31, 2024

$ ( 287,969 )

$ ( 287,756 )

For The Period From April 27, 2023 (Inception) to September 30, 2023

Ordinary shares

Stockholder’s

Balance – April 27, 2023 (inception)

Issuance of Founder

Shares to Sponsor for subscription receivable (1)

Balance – June 30, 2023

Subscription fee received

Net income (loss)

Balance – September 30, 2023

of September 30, 2023 excludes up to an aggregate of 187,500 ordinary shares subject to forfeiture to the extent that the underwriters’

over-allotment option is not exercised in full or in part (see Note 5).

As a result of the underwriters’ full exercise of their

over-allotment option on December 6, 2023, no founder shares are currently subject to forfeiture for September 30, 2024.

accompanying notes to unaudited financial statements.

HEALTH TECHNOLOGY CO., LTD

STATEMENTS OF CASH FLOWS

Nine Months Ended

For The Period from April 27, 2023

(Inception) to

September 30, 2024

September 30, 2023

Cash flows from operating activities:

Net income (loss)

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Interest earned in on investments held in trust

$ ( 287,969 )

$ ( 287,756 )

The accompanying notes are an integral part of these

unaudited financial statements.

AIMEI HEALTH TECHNOLOGY CO., LTD

UNAUDITED STATEMENTS OF CASH FLOWS

For the Three

March 31, 2025

For the Three

March 31, 2024

Cash flows from operating activities:

Adjustments to reconcile net income to net cash used in operating activities:

Interest earned in assets held in trust

Change in operating assets and liabilities:

Formation costs paid by Sponsor under Promissory Note – Related Party

Prepaid expenses

2 unchanged sentences

Net cash used in operating activities

Cash flows from investing activities:

Cash withdrawn from Trust Account in connection to redemption

Extension payments deposited in Trust Account

Net cash provided by investing activities

Cash flows from financing activities:

Proceeds from issuance of ordinary shares to Sponsor

Payment of offering costs

Net cash provided by financing activities

Proceeds from extension promissory note – related party

Advance from related party

Redemption of ordinary shares

( 31,265,500 )

Net cash used in financing activities

( 30,584,654 )

NET CHANGE IN CASH

3 unchanged sentences

Remeasurement of ordinary shares subject to possible redemption

Deferred offering costs included in promissory note

Deferred offering costs included in accrued offering cost

accompanying notes to unaudited financial statements.

HEALTH TECHNOLOGY CO., LTD

Extension funds attributable to common stock subject to redemption

The accompanying notes are an integral part of these

unaudited financial statements.

AIMEI HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

1 - ORGANIZATION AND BUSINESS BACKGROUND

Health Technology Co., Ltd.

(the “Company”) is a blank check company incorporated in the Cayman Islands on April 27, 2023 .

The Company was formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization,

reorganization or similar business combination with one or more businesses or entities.

Although there is no restriction or limitation

on what industry its target operates in, it is the Company’s intention to pursue prospective targets that are focused on healthcare

The Company anticipates targeting what are traditionally known as “small cap” companies domiciled in North America,

Europe and/or the Asia Pacific regions that are developing assets in the biopharmaceutical, medical technology/medical device and diagnostics

space which aligns with its management team’s experience in operating health care companies and in drug and device technology development

as well as diagnostic and other services.

of September 30, 2024, the Company had not yet commenced any operations.

All activities through September 30, 2024 related to the Company’s

formation and the Initial Public Offering (as defined below).

Since the Initial Public Offering, the Company’s activity has been

limited to the evaluation of business combination candidates.

The Company will not generate any operating revenue until after the completion

of its initial business combination, at the earliest.

The Company will generate non-operating income in the form of interest income on

cash in bank and investments held in the Trust Account (as defined below) from the proceeds derived from the Initial Public Offering.

The Company has selected December 31 as its fiscal year end.

The Company is an early stage and emerging growth company and, as such,

the Company is subject to all of the risks associated with early stage and emerging growth companies.

Company’s sponsor is Aimei Investment Ltd, a Cayman Islands exempted company (the “Sponsor”).

The registration statement

for the Company’s Initial Public Offering was declared effective on November 30, 2023.

On December 6, 2023, the Company consummated

its Initial Public Offering of 6,900,000 units (the “Units” and, with respect to the ordinary shares included in the Units

being offered, the “Public Shares”), at $ 10.00 per Unit, which includes full exercise of the underwriters’ over-allotment

option of 900,000 Units, generating gross proceeds of $ 69,000,000 (the “Initial Public Offering”), and incurring offering

costs of $ 2,070,665 and $ 690,000 for deferred underwriting commissions (see Note 7).

The Company granted the underwriters a 45-day option

to purchase up to an additional 900,000 Units at the Initial Public Offering price to cover over-allotments, if any.

On December 6, 2023,

the over-allotment option was exercised in full.

Simultaneously

with the consummation of the closing of the Offering, the Company consummated the private placement of an aggregate of 332,000 units

(the “Private Units”) to the Sponsor at a price of $ 10.00 per Unit, generating total gross proceeds of $ 3,320,000 (the “Private

NOTE 1 - ORGANIZATION

AND BUSINESS BACKGROUND

Aimei Health Technology Co., Ltd.

(the “Company”)

is a blank check company incorporated in the Cayman Islands on April 27, 2023 .

The Company was formed for the purpose of entering

into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with

one or more businesses or entities.

Although there is no restriction or limitation on what industry its target operates in, it is the

Company’s intention to pursue prospective targets that are focused on healthcare innovation.

The Company anticipates targeting what

are traditionally known as “small cap” companies domiciled in North America, Europe and/or the Asia Pacific regions that are

developing assets in the biopharmaceutical, medical technology/medical device and diagnostics space which aligns with its management team’s

experience in operating health care companies and in drug and device technology development as well as diagnostic and other services.

As of March 31, 2025, the Company had not yet commenced

any operations.

All activities through March 31, 2025 related to the Company’s formation and the Initial Public Offering (as defined

Since the Initial Public Offering, the Company’s activity has been limited to the costs in pursuit of the consummation of

an initial business combination.

The Company will not generate any operating revenue until after the completion of its initial business

combination, at the earliest.

The Company will generate non-operating income in the form of interest income on cash in bank and assets

held in the Trust Account (as defined below) from the proceeds derived from the Initial Public Offering.

The Company has selected December

31 as its fiscal year end.

The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the

risks associated with early stage and emerging growth companies.

The Company’s sponsor is Aimei Investment Ltd,

a Cayman Islands exempted company (the “Sponsor”).

The registration statement for the Company’s Initial Public Offering

was declared effective on November 30, 2023.

On December 6, 2023, the Company consummated its Initial Public Offering of 6,900,000 units

(the “Units” and, with respect to the ordinary shares included in the Units being offered, the “Public Shares”),

at $ 10.00 per Unit, which includes full exercise of the underwriters’ over-allotment option of 900,000 Units, generating

gross proceeds of $ 69,000,000 (the “Initial Public Offering”), and incurring offering costs of $ 2,070,665 and $ 690,000 for

deferred underwriting commissions (see Note 7).

The Company granted the underwriters a 45-day option to purchase up to an additional 900,000 Units

at the Initial Public Offering price to cover over-allotments, if any.

On December 6, 2023, the over-allotment option was exercised in

Simultaneously with the consummation of the closing

of the Offering, the Company consummated the private placement of an aggregate of 332,000 units (the “Private Units”)

to the Sponsor at a price of $ 10.00 per Unit, generating total gross proceeds of $ 3,320,000 (the “Private Placement”).

(see Note 4).

the closing of the Initial Public Offering on December 6, 2023, an amount of $ 69,690,000 ($ 10.10 per Unit) from the net proceeds of the

sale of the Units in the Initial Public Offering and a portion of the proceeds from the sale of the Private Units was placed in a trust

account (the “Trust Account”), located in the United States and held as cash items or may be invested only in U.S.

treasury bills, notes and bonds with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7

under the Investment Company Act and which invest solely in U.S.

Following the closing of the Initial Public Offering

on December 6, 2023, an amount of $ 69,690,000 ($ 10.10 per Unit) from the net proceeds of the sale of the Units in the Initial

Public Offering and a portion of the proceeds from the sale of the Private Units was placed in a trust account (the “Trust Account”),

located in the United States and held as cash items or may be invested only in U.S.

government treasury bills, notes and bonds with a

maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act and

which invest solely in U.S.

Treasuries, as determined by the Company, until the earlier of:

the consummation of a business combination, or (ii) the distribution of the funds in the Trust Account to the Company’s shareholders,

as described below.

Company will provide its public shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion

of its initial business combination either (i) in connection with a shareholder meeting called to approve the initial business combination

or (ii) by means of a tender offer.

In connection with a proposed business combination, the Company may seek shareholder approval of

a business combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of how

they vote for the business combination.

If a vote is held to approve such an initial business combination, the Company will consummate

such initial business combination only if the Company has the affirmative vote of a majority of the shareholders who attend and vote

at a general meeting of the Company.

(i) the consummation of a business combination,

or (ii) the distribution of the funds in the Trust Account to the Company’s shareholders, as described below.

The Company will provide its public shareholders with

the opportunity to redeem all or a portion of their Public Shares upon the completion of its initial business combination either (i) in

connection with a shareholder meeting called to approve the initial business combination or (ii) by means of a tender offer.

In connection

with a proposed business combination, the Company may seek shareholder approval of a business combination at a meeting called for such

purpose at which shareholders may seek to redeem their shares, regardless of how they vote for the business combination.

held to approve such an initial business combination, the Company will consummate such initial business combination only if the Company

has the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the Company.

The shareholders will be entitled to redeem their

Public Shares for a pro rata portion of the amount then in the Trust Account (initially $ 10.10 per share, plus any pro rata interest

earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations).

The per-share amount

to be distributed to shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company

will pay to the underwriter.

There will be no redemption rights upon the completion of a business combination with respect to the Company’s

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially

$ 10.10 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company

to pay its tax obligations).

The per-share amount to be distributed to shareholders who redeem their Public Shares will not be reduced

by the deferred underwriting commissions the Company will pay to the underwriter.

There will be no redemption rights upon the completion

of a business combination with respect to the Company’s rights.

a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other reasons, the Company

will, pursuant to its amended and restated memorandum and articles of association, conduct the redemptions pursuant to Rule 13e-4 and

Regulation 14E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which regulate issuer tender offers,

and file tender offer documents with the U.S.

Securities and Exchange Commission (the “SEC”) prior to completing its initial

business combination which contain substantially the same financial and other information about the initial business combination as is

required under the SEC’s proxy rules.

Sponsor has agreed (i) to vote any shares owned by them in favor of any proposed business combination, (ii) not to redeem any shares

in connection with a shareholder vote to approve a proposed initial business combination or any amendment to the Company’s charter

prior to the consummation of its initial business combination and (iii) not to sell any shares to us in a tender offer in connection

with any proposed business combination.

However, the Sponsor will be entitled to liquidating distributions from the Trust Account with

respect to any Public Shares purchased during or after the Initial Public Offering if the Company fails to complete its business combination.

Company will have until 12 months from the closing of the Initial Public Offering (or up to 24 months from the closing of the Initial

Public Offering if the Company extends the period of time to consummate a business combination by up to 12 additional months through

12 one-month extensions of time, as further provided in the Company’s amended and restated memorandum and articles of association)

to consummate a business combination (the “Combination Period”).

If the Company is unable to complete a business combination

within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably

possible but not more than five business days thereafter, redeem 100% of the outstanding Public Shares which redemption will completely

extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any),

subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s

remaining holders of ordinary shares and its board of directors, proceed to commence a voluntary liquidation and thereby a formal dissolution

of the Company, subject (in the case of (ii) and (iii) above) to its obligations to provide for claims of creditors and the requirements

of applicable law.

underwriters have agreed to waive their rights to the deferred underwriting commission held in the Trust Account in the event the Company

does not complete a business combination within the Combination Period and, in such event, such amounts will be included with the funds

held in the Trust Account that will be available to fund the redemption of the Public Shares.

In the event of such distribution, it is

possible that the per share value of the assets remaining available for distribution will be less than the offering price per Unit ($ 10.00 ).

Sponsor has agreed that it will be liable to the Company, if and to the extent any claims by a vendor for services rendered or products

sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce

the amounts in the Trust Account to below $ 10.10 per share (whether or not the underwriters’ over-allotment option is exercised

in full), except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and

except as to any claims under its indemnity of the underwriters of the Initial Public Offering against certain liabilities, including

liabilities under the Securities Act.

In the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor

will not be responsible to the extent of any liability for such third-party claims.

The Company has not independently verified whether

the Sponsor has sufficient funds to satisfy its indemnity obligations and believes that the Sponsor’s only assets are securities

of the Company.

The Company has not asked the Sponsor to reserve for such obligations and therefore believes the Sponsor will be unlikely

to satisfy its indemnification obligations if it is required to do so.

However, the Company believes the likelihood of the Sponsor having

to indemnify the Trust Account is limited because the Company will endeavor to have all vendors and prospective target businesses as

well as other entities execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held

in the Trust Account.

If a shareholder vote is not required and the Company

does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant to its amended and restated memorandum

and articles of association, conduct the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Securities Exchange Act of 1934,

as amended (the “Exchange Act”), which regulate issuer tender offers, and file tender offer documents with the U.S.

and Exchange Commission (the “SEC”) prior to completing its initial business combination which contain substantially the same

financial and other information about the initial business combination as is required under the SEC’s proxy rules.

The Sponsor has agreed (i) to vote any shares owned

by them in favor of any proposed business combination, (ii) not to redeem any shares in connection with a shareholder vote to approve

a proposed initial business combination or any amendment to the Company’s charter prior to the consummation of its initial business

combination and (iii) not to sell any shares to the Company in a tender offer in connection with any proposed business combination.

the Sponsor will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares purchased during or

after the Initial Public Offering if the Company fails to complete its business combination.

The Company initially had 12 months from the closing

of the Initial Public Offering (or up to 24 months from the closing of the Initial Public Offering if the Company extends the period of

time to consummate a business combination by up to 12 additional months through 12 one-month extensions of time, as further provided in

the Company’s amended and restated memorandum and articles of association) to consummate a business combination (the “Combination

If the Company is unable to complete a business combination within the Combination Period, the Company will (i) cease

all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than five business days thereafter,

redeem 100% of the outstanding Public Shares which redemption will completely extinguish public shareholders’ rights as shareholders

(including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably

possible following such redemption, subject to the approval of the Company’s remaining holders of ordinary shares and its board

of directors, proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company, subject (in the case of (ii)

and (iii) above) to its obligations to provide for claims of creditors and the requirements of applicable law.

The underwriters have agreed to waive their rights

to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a business combination within

the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available

to fund the redemption of the Public Shares.

In the event of such distribution, it is possible that the per share value of the assets

remaining available for distribution will be less than the offering price per Unit ($ 10.00 ).

The Sponsor has agreed that it will be liable to the

Company, if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business

with which the Company has discussed entering into a transaction agreement, reduce the amounts in the Trust Account to below $ 10.10 per

share (whether or not the underwriters’ over-allotment option is exercised in full), except as to any claims by a third party who

executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under its indemnity of the underwriters

of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act.

In the event that an executed

waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such

third-party claims.

The Company has not independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations

and believes that the Sponsor’s only assets are securities of the Company.

The Company has not asked the Sponsor to reserve for

such obligations and therefore believes the Sponsor will be unlikely to satisfy its indemnification obligations if it is required to do

However, the Company believes the likelihood of the Sponsor having to indemnify the Trust Account is limited because the Company will

endeavor to have all vendors and prospective target businesses as well as other entities execute agreements with the Company waiving any

right, title, interest or claim of any kind in or to monies held in the Trust Account.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

June 19, 2024, the Company entered into a definitive Business Combination Agreement (the “Merger Agreement”) for a business

combination with (i) United Hydrogen Group Inc., an exempted company incorporated with limited liability in the Cayman Islands (“United

Hydrogen”), (ii) United Hydrogen Global Inc., an exempted company incorporated with limited liability in the Cayman Islands (“Pubco”),

(iii) United Hydrogen Victor Limited, an exempted company incorporated with limited liability in the Cayman Islands and a wholly-owned

subsidiary of Pubco (“First Merger Sub”);

(iv) United Hydrogen Worldwide Limited, an exempted company incorporated with limited

liability in the Cayman Islands and a wholly-owned subsidiary of Pubco (“Second Merger Sub” and, together with Pubco and

First Merger Sub, each, individually, an “Acquisition Entity” and, collectively, the “Acquisition Entities”);

and (v) Aimei Investment Ltd., a Cayman Islands exempted company, in the capacity as, from and after the closing of the transactions

contemplated by the Merger Agreement (the “Closing”), the representative for the Company and its shareholders (the “Sponsor”).

to the Merger Agreement, subject to the terms and conditions set forth therein, (i) First Merger Sub will merge with and into the United

Hydrogen (the “First Merger”), whereby the separate existence of First Merger Sub will cease, and United Hydrogen will be

the surviving corporation of the First Merger and become a wholly-owned subsidiary of Pubco;

and (ii) following confirmation of the effective

filing of the First Merger, and as part of the same overall transaction as the First Merger, Second Merger Sub will merge with and into

the Company (the “Second Merger”, and together with the First Merger, the “Mergers”), whereby the separate existence

of Second Merger Sub will cease, and the Company will be the surviving corporation of the Second Merger as a wholly-owned subsidiary

and Capital Resources

of September 30, 2024, the Company had $ 103,559 in its bank account, $ 72,660,715 in its Trust Account and working capital deficit of

Company’s liquidity needs prior to the consummation of the Initial Public Offering were satisfied through (i) the payment of $ 25,000

from the Sponsor to cover certain offering costs on the Company’s behalf in exchange for issuance of Founder Shares (see Note 5),

and (ii) a loan from the Sponsor of approximately $ 210,151 under the Note (as defined in Note 5).

The Company has repaid the note in

full on December 7, 2023.

Subsequent to the consummation of the Initial Public Offering, the Company’s liquidity has been satisfied

through the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account.

In addition, in order to finance transaction costs in connection with a business combination, the Sponsor or an affiliate of the Sponsor,

On June 19, 2024, the Company entered into a definitive

Business Combination Agreement (the “Merger Agreement”) for a business combination with (i) United Hydrogen Group Inc., an

exempted company incorporated with limited liability in the Cayman Islands (“United Hydrogen”), (ii) United Hydrogen Global

Inc., an exempted company incorporated with limited liability in the Cayman Islands (“Pubco”), (iii) United Hydrogen Victor

Limited, an exempted company incorporated with limited liability in the Cayman Islands and a wholly-owned subsidiary of Pubco (“First

Merger Sub”);

(iv) United Hydrogen Worldwide Limited, an exempted company incorporated with limited liability in the Cayman Islands

and a wholly-owned subsidiary of Pubco (“Second Merger Sub” and, together with Pubco and First Merger Sub, each, individually,

an “Acquisition Entity” and, collectively, the “Acquisition Entities”);

and (v) Aimei Investment Ltd., a Cayman

Islands exempted company, in the capacity as, from and after the closing of the transactions contemplated by the Merger Agreement (the

“Closing”), the representative for the Company and its shareholders (the “Sponsor”).

Pursuant to the Merger Agreement, subject to the terms

and conditions set forth therein, (i) First Merger Sub will merge with and into the United Hydrogen (the “First Merger”),

whereby the separate existence of First Merger Sub will cease, and United Hydrogen will be the surviving corporation of the First Merger

and become a wholly-owned subsidiary of Pubco;

and (ii) following confirmation of the effective filing of the First Merger, and as part

of the same overall transaction as the First Merger, Second Merger Sub will merge with and into the Company (the “Second Merger”,

and together with the First Merger, the “Mergers”), whereby the separate existence of Second Merger Sub will cease, and the

Company will be the surviving corporation of the Second Merger as a wholly-owned subsidiary of Pubco.

On February 5, 2025, in connection with the stockholders

vote at the Company’s previous adjourned extraordinary general meeting (“Adjourned Meeting”), 2,904,267 shares were redeemed by certain shareholders at a price of approximately $ 10.77 per share, including

interest generated and extension payments deposited in the Trust Account, in an aggregate amount of approximately $ 31.27 million.

On February 6, 2025, the Company entered into an amendment

(the “Trust Agreement Amendment”) to the Investment Management Trust Agreement with Continental Stock Transfer & Trusts

Company (“Trustee”).

Pursuant to the Trust Agreement Amendment, the amount of funds to be deposited into the Trust Account in connection with extending the timeframe within which the Company must consummate

its initial business combination (“Extension”), is adjusted from $ 0.033 per Public

Share (for each monthly extension) to an amount equal to $ 150,000 for all outstanding Public Shares (for each monthly extension).

As of the date of these unaudited financial

statements issued, the Company has extended six times by an additional one month each time, and so it now has until June 6, 2025 to

consummate a business combination.

Pursuant to the terms of the current amended and restated memorandum and articles of association

and the trust agreement between the Company and the Trustee, in order to extend the time available for the Company to consummate its

initial business combination, the Company’s insiders or their affiliates or designees, must deposit into the Trust Account a

monthly extension fee on or prior to the date of the applicable deadline.

On December 11, 2024 and January 13, 2025, the

Sponsor and United Hydrogen caused the first and second

monthly extension fee of $ 227,700 ,

respectively, to be deposited into the Trust Account, in order to extend the amount of available time to complete a business

combination until February 6, 2025.

On February 6, 2025, March 6, 2025, April 4, 2025 and May 6, 2025, the Sponsor and

United Hydrogen caused the third through sixth monthly extension fee of $ 150,000 ,

respectively, to be deposited into the Trust Account in order to extend the amount of available time to

complete a business combination until June 6, 2025.

The deposit of the first through sixth monthly extension fee is evidenced by an unsecured promissory note.

and second monthly extension promissory notes are in the principal amount of $ 227,700 each, shared equally between the Sponsor and United

Hydrogen ($ 113,850 each).

The third through sixth monthly extension promissory notes are in the principal amount of $ 150,000 , also shared

equally between the Sponsor and United Hydrogen ($ 75,000 each).

Liquidity and Capital Resources

As of March 31, 2025, the Company had $ 7,345 in its

bank account, $ 43,594,825 in its Trust Account and working capital deficit of $ 1,677,724 .

The Company’s liquidity has been satisfied through

the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account.

addition, in order to finance transaction costs in connection with a business combination, the Sponsor or an affiliate of the Sponsor,

or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as

defined in Note 5).

As of September 30, 2024, there were no amounts outstanding under any Working Capital Loan.

the period of time to complete a business combination, the Company will be using the funds held outside of the Trust Account for paying

existing accounts payable, identifying and evaluating prospective initial business combination candidates, performing due diligence on

prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring,

negotiating and consummating the business combination.

Concern Consideration

connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”)

2014-15, “ Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern ,” management

has determined that if the Company is unsuccessful in consummating an initial business combination within the prescribed period of time

from the closing of the Initial Public Offering, the requirement that the Company cease all operations, redeem the Public Shares and

thereafter liquidate and dissolve raises substantial doubt about the ability to continue as a going concern.

The unaudited financial

statements do not include any adjustments that might result from the outcome of this uncertainty.

The accompanying unaudited financial

statements have been prepared in conformity with generally accepted accounting principles in the U.S.

GAAP”), which

contemplate continuation of the Company as a going concern.

As of March 31, 2025, there were no amounts outstanding under any Working Capital Loan.

Over the period of time to complete a business combination,

the Company will be using the funds held outside of the Trust Account for paying existing accounts payable, identifying and evaluating

prospective initial business combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures,

selecting the target business to merge with or acquire, and structuring, negotiating and consummating the business combination.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

2 – SIGNIFICANT ACCOUNTING POLICIES

Going Concern Consideration

In connection with the Company’s assessment

of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “ Disclosures of Uncertainties

about an Entity’s Ability to Continue as a Going Concern ,” management has determined that if the Company is unsuccessful

in consummating an initial business combination within the prescribed period of time from the closing of the Initial Public Offering,

the requirement that the Company cease all operations, redeem the Public Shares and thereafter liquidate and dissolve raises substantial

doubt about the ability to continue as a going concern within one year after the date that the financial statements are issued.

The unaudited

financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The accompanying unaudited

financial statements have been prepared in conformity with generally accepted accounting principles in the U.S.

which contemplate continuation of the Company as a going concern.

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

accompanying unaudited financial statements have been prepared in accordance with U.S.

GAAP for interim financial statements and Article

8 of Regulation S-X.

They do not include all of the information and notes required by U.S.

GAAP for complete financial statements.

unaudited financial statements as of September 30, 2024 should be read in conjunction with the Company’s financial statements and

notes thereto for the period from inception through December 31, 2023, included in the Company’s Annual Report on Form 10-K.

information or footnote disclosures normally included in financial statements prepared in accordance with U.S.

GAAP have been condensed

or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.

Accordingly, they do not include all the

information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows.

In the opinion

of management, the accompanying unaudited financial statements include all adjustments, consisting of a normal recurring nature, which

are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

results for the nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the year ending

December 31, 2024 or for any future periods.

These accompanying unaudited financial statements

have been prepared in accordance with U.S.

GAAP for interim financial statements and Article 8 of Regulation S-X.

The unaudited financial

statements as of March 31, 2025 should be read in conjunction with the Company’s financial statements and notes thereto for the

year ended December 31, 2024, included in the Company’s Annual Report on Form 10-K.

In the opinion of management, the accompanying

unaudited financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation

of the financial position, operating results and cash flows for the periods presented.

The interim results for the three months ended

March 31, 2025 are not necessarily indicative of the results to be expected for the year ending December 31, 2025 or for any future periods.

Emerging growth company

Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our

Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements

is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business

Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements

that are applicable to other public companies that are not emerging growth companies, including, but not limited to, not being required

2 unchanged sentences

vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting

standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do

not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting

The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements

that apply to non-emerging growth companies but any such election to opt out is irrevocable.

Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has

different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised

standard at the time private companies adopt the new or revised standard.

Further, Section

102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards

until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a

class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.

The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply

to non-emerging growth companies but any such election to opt out is irrevocable.

has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different

application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at

the time private companies adopt the new or revised standard.

This may make comparison of the Company’s unaudited financial

1 unchanged sentence

of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

● Use of estimates

preparation of unaudited financial statements in conformity with U.S.

GAAP requires management to make estimates and assumptions that

affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial

statements and the reported amounts of expenses during the reporting period.

estimates requires management to exercise significant judgment.

It is at least reasonably possible that the estimate of the effect of

a condition, situation or set of circumstances that existed as of the date of the financial statements, which management considered in

formulating its estimate, could change in the near term due to one or more future confirming events.

Accordingly, the actual results

could differ significantly from those estimates.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

Use of estimates

The preparation of unaudited financial statements

in conformity with U.S.

GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities

and disclosure of contingent assets and liabilities as of the date of the unaudited financial statements and the reported amounts of expenses

during the reporting period.

Making estimates requires management to exercise significant

It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed

as of the date of the unaudited financial statements, which management considered in formulating its estimate, could change in the near

term due to one or more future confirming events.

Accordingly, the actual results could differ significantly from those estimates.

Cash and cash equivalents

Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents.

The Company did no t have any cash equivalents as of September 30, 2024 and December 31, 2023.

As of September 30, 2024 and December 31,

2023, the cash balance was $ 103,559 and $ 580,717 , respectively.

Cash and investment held in trust account

of September 30, 2024 and December 31, 2023, substantially all of the assets held in the Trust Account were held in U.S.

Treasury Securities

Money Market Funds.

All of the Company’s investments held in the Trust Account are classified as trading securities.

Trading securities

are presented on the unaudited balance sheet at fair value at the end of each reporting period.

Gains and losses resulting from the change

in fair value of investments held in Trust Account are included in investment income earned on investments held in Trust in the accompanying

unaudited statement of operations.

The estimated fair value of investments held in Trust Account is determined using available market

As of September 30, 2024 and December 31, 2023, the estimated fair value of investments held in Trust Account was $ 72,660,715

and $ 69,889,848 , respectively.

The Company considers all short-term investments with

an original maturity of three months or less when purchased to be cash equivalents.

The Company did no t have any cash equivalents

as of March 31, 2025 and December 31, 2024.

As of March 31, 2025 and December 31, 2024, the cash balance was $ 7,345 and $ 28,208 ,

respectively.

Cash held in trust account

On July 16, 2024, the Company instructed their

trust custodian to liquidate their positions in marketable securities and invest 100% of the trust account in an interest-bearing

demand deposit account.

As of March 31, 2025 and December 31, 2024, all the assets held in the Trust Account were held in an

interest-bearing demand deposit account.

Interest earned is included in the interest earning on assets held in trust in the

accompanying statements of operations.

As of March 31, 2025 and December 31, 2024, the assets held in the Trust Account was $ 43,594,825 and

$ 73,784,549 ,

respectively.

Ordinary shares subject to possible redemption

of the 6,900,000 ordinary shares sold as part of the Units in the Initial Public Offering contain a redemption feature which allows for

the redemption of such Public Shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer

in connection with the Business Combination and in connection with certain amendments to the Company’s amended and restated certificate

of incorporation.

In accordance with Accounting Standards Codification (“ASC”) 480 “ Distinguishing Liabilities from

Equity ”, conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either

within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s

control) are classified as temporary equity.

Ordinary liquidation events, which involve the redemption and liquidation of all of the

entity’s equity instruments, are excluded from the provisions of ASC 480.

Although the Company did not specify a maximum redemption

threshold, its charter provides that currently, the Company will not redeem its Public Shares in an amount that would cause its net tangible

assets (shareholders’ equity) to be less than $ 5,000,001 .

However, the threshold in its charter would not change the nature of

the underlying shares as redeemable and thus Public Shares would be required to be disclosed outside of permanent equity.

as of September 30, 2024 and December 31, 2023, 6,900,000 and 6,900,000 ordinary shares subject to possible redemption at the redemption

amount, respectively, were presented at redemption value as temporary equity, outside of the shareholders’ deficit section of the

Company’s unaudited balance sheets.

● Income taxes

Company complies with the accounting and reporting requirements of ASC Topic 740, “ Income Taxes ,” (“ASC 740”)

which requires an asset and liability approach to financial accounting and reporting for income taxes.

Deferred income tax assets and

liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in

future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected

to affect taxable income.

Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected

to be realized.

740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions

taken or expected to be taken in a tax return.

For those benefits to be recognized, a tax position must be more-likely-than-not to be

sustained upon examination by taxing authorities.

The Company’s management determined that the Cayman Islands is the Company’s

major tax jurisdiction.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income

There were no unrecognized tax benefits as of September 30, 2024 and December 31, 2023 and no amounts were accrued for interest

and penalties during the three and nine months ended September 30, 2024 and 2023.

The Company is currently not aware of any issues under

review that could result in significant payments, accruals or material deviation from its position.

Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently

not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States.

As such, there was no provision

for income taxes for the three and nine months ended September 30, 2024.

● Net income (loss) per share

income (loss) per share is computed by dividing net income by the weighted average number of ordinary shares outstanding for the period.

The calculation of diluted loss per share does not consider the effect of the rights issued in connection with the Initial Public Offering

and rights issued as components of the Private Units (the “Private Rights”) since the issuance of shares underlying the rights

is contingent upon the occurrence of future events.

As a result, diluted loss per share is the same as basic loss per share for the periods.

All of the 6,900,000 ordinary

shares sold as part of the Units in the Initial Public Offering contain a redemption feature which allows for the redemption of such Public

Shares in connection with the Company’s liquidation, if there is a shareholder vote or tender offer in connection with the Business

Combination and in connection with certain amendments to the Company’s amended and restated certificate of incorporation.

In accordance

with Accounting Standards Codification (“ASC”) 480 “ Distinguishing Liabilities from Equity ”, conditionally

redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder

or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary

Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are

excluded from the provisions of ASC 480.

Although the Company did not specify a maximum redemption threshold, its charter provides that

currently, the Company will not redeem its Public Shares in an amount that would cause its net tangible assets (shareholders’ equity)

to be less than $ 5,000,001 .

However, the threshold in its charter would not change the nature of the underlying shares as redeemable and

thus Public Shares would be required to be disclosed outside of permanent equity.

Accordingly, as of March 31, 2025 and December 31, 2024,

3,995,773 and 6,900,000 ordinary shares subject to possible redemption at the redemption amount, respectively, were presented at redemption

value as temporary equity, outside of the shareholders’ deficit section of the Company’s unaudited balance

The Company complies with the accounting and reporting

requirements of ASC Topic 740, “ Income Taxes ,” (“ASC 740”) which requires an asset and liability approach

to financial accounting and reporting for income taxes.

Deferred income tax assets and liabilities are computed for differences between

the unaudited financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based

on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.

Valuation allowances

are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

following table reflects the calculation of basic and diluted net income (loss) per ordinary share:

OF BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

nine months ended

September 30, 2024

April 27, 2023 (inception) to

September 30, 2023

Net income (loss) including accretion of carrying value to redemption value

three months ended

September 30, 2024

April 27, 2023 (inception) to

September 30, 2023

Net income (loss) including accretion of carrying value to redemption value

Non-Redeemable

For the Nine Months Ended

Period from April 27, 2023 (inception) to

September 30, 2024

September 30, 2023

Non-Redeemable

Ordinary Share

Basic and diluted net income (loss) per share:

Allocation of net income (loss)

Denominators:

Weighted-average shares outstanding

Basic and diluted net income (loss) per share

Non-Redeemable

For the Three Months Ended

Period from April 27, 2023 (inception) to

September 30, 2024

September 30, 2023

Non-Redeemable

Ordinary Share

ASC 740 prescribes a recognition threshold and a measurement

attribute for the unaudited financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return.

For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities.

The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction.

The Company recognizes

accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense.

There were no unrecognized

tax benefits as of March 31, 2025 and December 31, 2024 and no amounts were accrued for interest and penalties during the three

months ended March 31, 2025 and 2024.

The Company is currently not aware of any issues under review that could result in significant payments,

accruals or material deviation from its position.

The Company is considered to be an exempted Cayman

Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing

requirements in the Cayman Islands or the United States.

As such, there was no provision for income taxes for the three months

ended March 31, 2025 and 2024.

Net income per share

Net income per share is computed by dividing net income

by the weighted average number of ordinary shares outstanding for the period.

The calculation of diluted loss per share does not consider

the effect of the rights issued in connection with the Initial Public Offering and rights issued as components of the Private Units (the

“Private Rights”) since the issuance of shares underlying the rights is contingent upon the occurrence of future events.

a result, diluted loss per share is the same as basic loss per share for the periods.

The following table reflects the calculation of basic

and diluted net income per ordinary share:

SCHEDULE OF BASIC AND DILUTED NET INCOME PER ORDINARY SHARE

For the three

March 31, 2025

For the three

March 31, 2024

March 31, 2025

March 31, 2024

Basic and diluted net income (loss) per share:

Allocation of net income (loss)

Allocation of net income

Denominators:

1 unchanged sentence

Basic and diluted net income (loss) per share

Concentration of credit risk

Financial instruments

that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times

may exceed the Federal depository insurance coverage of $ 250,000 .

As of March 31, 2025 and December 31, 2024, the Company had not experienced

losses on this account and management believes the Company is not exposed to significant risks on such account.

As of March 31, 2025 and

December 31, 2024, no amount was not insured, respectively.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

● Concentration of credit risk

instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution

which, at times may exceed the Federal depository insurance coverage of $ 250,000 .

As of September 30, 2024 and December 31, 2023, the

Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

As of September 30, 2024 and December 31, 2023, $ 0 and $ 330,717 was not insured, respectively.

Fair value of financial instruments

fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction

between market participants at the measurement date.

GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs

used in measuring fair value.

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets

or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

The fair value

is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between

market participants at the measurement date.

GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in

measuring fair value.

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities

(Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

These tiers include:

1 — defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

2 — defined as inputs other than quoted prices in active markets that are either directly

or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments

in markets that are not active;

3 — defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions,

such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy.

those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input

that is significant to the fair value measurement.

following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of September

30, 2024 and December 31, 2023 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine

such fair value:

OF FAIR VALUE HIERARCHY VALUATION TECHNIQUES

September 30,

Quoted Prices In Active Markets

Significant Other

Observable Inputs

Significant Other

Unobservable Inputs

Money market funds invested in U.S.

Quoted Prices In Active Markets

Significant Other

Observable Inputs

Significant Other

Unobservable Inputs

Money market funds invested in U.S.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

Level 1 — defined as observable inputs such

as quoted prices (unadjusted) for identical instruments in active markets;

Level 2 — defined

as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar

instruments in active markets or quoted prices for identical or similar instruments in markets that are not active;

Level 3 — defined as unobservable inputs in

which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation

techniques in which one or more significant inputs or significant value drivers are unobservable.

In some circumstances, the inputs used to measure

fair value might be categorized within different levels of the fair value hierarchy.

In those instances, the fair value measurement is

categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

The following table presents information about the

Company’s assets that are measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024 and indicates the

fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value:

SCHEDULE OF FAIR VALUE HIERARCHY VALUATION TECHNIQUES

Active Markets

Cash held in trust account

Active Markets

Cash held in trust account

Related parties

which can be a corporation or individual, are considered to be related if either the Company or the other party has the ability, directly

or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational

Parties, which

can be a corporation or individual, are considered to be related if either the Company or the other party has the ability, directly or

indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions.

Companies are also considered to be related if they are subject to common control or significant influence.

Recent issued accounting standards

does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a

material effect on the Company’s unaudited financial statements.

3 – INITIAL PUBLIC OFFERING

December 6, 2023, the Company consummated its Initial Public Offering of 6,900,000 Units (including the issuance of 900,000 Units as

a result of the underwriter’s full exercise of its over-allotment option), at $ 10.00 per Unit, generating gross proceeds of $ 69,000,000 .

Each Unit consists of one ordinary share and one right (“Public Right”).

Each Public Right entitles the holder to receive

one-fifth (1/5) of one ordinary share upon consummation of the Company’s initial business combination, so the holder must hold

rights in multiples of 5 in order to receive shares for all of the rights upon closing of a business combination.

of December 31, 2023, the Company incurred offering costs of approximately $ 2,070,665 and $ 690,000 for deferred underwriting commissions.

4 – PRIVATE PLACEMENT

Simultaneously

with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 332,000 Private Units at a price of $ 10.00 per

Private Unit ($ 3,320,000 in the aggregate).

proceeds from the sale of the Private Units will be added to the net proceeds from the Offering held in the Trust Account.

Units are identical to the Units sold in the Initial Public Offering except that Private Units (including the Private Rights) will not

be transferable, assignable or salable until the completion of the Company’s initial business combination except to permitted transferees.

If the Company does not complete a business combination within the Combination Period, the proceeds from the sale of the Private Units

will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Rights will

expire worthless.

5 – RELATED PARTY TRANSACTIONS

to the Initial Public Offering, the Company issued an aggregate of 50,000 ordinary shares of $ 1.00 par value each to Han Huang.

11, 2023, Han Huang transferred those ordinary shares to the Sponsor and on May 15, 2023, the Sponsor resolved to sub-divide the ordinary

shares of $ 1.00 par value each into ordinary shares of $ 0.0001 par value each and as such the Sponsor held 500,000,000 ordinary shares

of $ 0.0001 each.

On May 15, 2023, the directors resolved to repurchase 498,562,500 ordinary shares from the Sponsor, the repurchase resulting

in the Sponsor holding 1,437,500 ordinary shares.

On May 25, 2023, 1,437,500 founder shares were issued to the Sponsor (up to 187,500

of which are subject to forfeiture depending on the extent to which the underwriters’ over-allotment option is exercised) pursuant

to a securities subscription agreement and the 1,437,500 ordinary shares previously held by the Sponsor were repurchased by the company,

the shares have been retroactively adjusted.

On October 20, 2023, the Company capitalized an amount equal to $ 28.75 standing to the credit

of the share premium account and appropriated such sum and applied it on behalf of the Sponsor towards paying up in full (as to the full

par value of $ 0.0001 per founder share) 287,500 unissued ordinary shares of $ 0.0001 par value and allotted such shares credited as fully

paid to the Sponsor, resulting in 1,725,000 ordinary shares being issued and outstanding.

225,000 shares of such ordinary shares are

not subject to forfeiture as the underwriters’ over-allotment was exercised in full.

The initial shareholders will collectively

own approximately 20 % of the Company’s issued and outstanding shares after the Initial Public Offering (assuming the initial shareholders

do not purchase any Public Shares in the Initial Public Offering and excluding the Private Units and underlying securities).

Management does not believe that any other recently

issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited financial

NOTE 3 – INITIAL

PUBLIC OFFERING

On December 6, 2023, the Company consummated its Initial

Public Offering of 6,900,000 Units (including the issuance of 900,000 Units as a result of the underwriter’s full exercise of its

over-allotment option), at $ 10.00 per Unit, generating gross proceeds of $ 69,000,000 .

Each Unit consists of one ordinary share and

one right (“Public Right”).

Each Public Right entitles the holder to receive one-fifth (1/5) of one ordinary share upon consummation

of the Company’s initial business combination, so the holder must hold rights in multiples of 5 in order to receive shares for all

of the rights upon closing of a business combination.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

to certain limited exceptions, the initial shareholders have agreed not to transfer, assign or sell their founder shares until six months

after the date of the consummation of the Company’s initial business combination or earlier if, subsequent to initial business

combination, the Company consummate a subsequent liquidation, merger, share exchange or other similar transaction which results in all

of the shareholders having the right to exchange their ordinary shares for cash, securities or other property.

NOTE 4 – PRIVATE

Simultaneously with the closing of the Initial Public

Offering, the Sponsor purchased an aggregate of 332,000 Private Units at a price of $ 10.00 per Private Unit ($ 3,320,000 in the aggregate).

The proceeds from the sale of the Private Units will

be added to the net proceeds from the Offering held in the Trust Account.

The Private Units are identical to the Units sold in the Initial

Public Offering except that Private Units (including the Private Rights) will not be transferable, assignable or saleable until the completion

of the Company’s initial business combination except to permitted transferees.

If the Company does not complete a business combination

within the Combination Period, the proceeds from the sale of the Private Units will be used to fund the redemption of the Public Shares

(subject to the requirements of applicable law) and the Private Rights will expire worthless.

NOTE 5 – RELATED PARTY

May 1, 2023, the Sponsor issued an unsecured promissory note (the “Note”) to the Company, pursuant to which the Company may

borrow up to an aggregate principal amount of $ 750,000 , to be used for payment of costs related to the Initial Public Offering.

is non-interest bearing and payable on the earlier of (i) December 31, 2023, (ii) the consummation of the Initial Public Offering, or

(iii) the date on which the Company determines to not proceed with the Initial Public Offering.

These amounts were repaid upon completion

of the Initial Public Offering out of the $ 550,000 of Initial Public Offering proceeds that has been allocated for the payment of Initial

Public Offering expenses.

As of December 6, 2023, the Company has borrowed $ 210,151 under the Note.

The Note was fully repaid on December

There was no outstanding balance due as of September 30, 2024 and December 31, 2023.

order to finance transaction costs in connection with a business combination, the Company’s Sponsor or an affiliate of the Sponsor,

or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working

Capital Loans”).

Founder Shares

Initial Public Offering, the Company issued an aggregate of 50,000 ordinary shares of $ 1.00 par value each to Han Huang.

On May 11, 2023, Han Huang transferred those ordinary shares to the Sponsor and on May 15, 2023, the Sponsor resolved to sub-divide the

ordinary shares of $ 1.00 par value each into ordinary shares of $ 0.0001 par value each and as such the Sponsor held 500,000,000 ordinary

shares of $ 0.0001 each.

On May 15, 2023, the directors resolved to repurchase 498,562,500 ordinary shares from the Sponsor, the repurchase

resulting in the Sponsor holding 1,437,500 ordinary shares.

On May 25, 2023, 1,437,500 founder shares were issued to the Sponsor

(up to 187,500 of which are subject to forfeiture depending on the extent to which the underwriters’ over-allotment option

is exercised) pursuant to a securities subscription agreement and the 1,437,500 ordinary shares previously held by the Sponsor

were repurchased by the company, the shares have been retroactively adjusted.

On October 20, 2023, the Company capitalized an amount equal

to $ 28.75 standing to the credit of the share premium account and appropriated such sum and applied it on behalf of the Sponsor towards

paying up in full (as to the full par value of $ 0.0001 per founder share) 287,500 unissued ordinary shares of $ 0.0001 par

value and allotted such shares credited as fully paid to the Sponsor, resulting in 1,725,000 ordinary shares being issued and

225,000 shares of such ordinary shares are not subject to forfeiture as the underwriters’ over-allotment

was exercised in full.

The initial shareholders will collectively own approximately 20 % of the Company’s issued and outstanding

shares after the Initial Public Offering (assuming the initial shareholders do not purchase any Public Shares in the Initial Public Offering

and excluding the Private Units and underlying securities).

Subject to certain

limited exceptions, the initial shareholders have agreed not to transfer, assign or sell their founder shares until six months after the

date of the consummation of the Company’s initial business combination or earlier if, subsequent to initial business combination,

the Company consummate a subsequent liquidation, merger, share exchange or other similar transaction which results in all of the shareholders

having the right to exchange their ordinary shares for cash, securities or other property.

Extensions Loan – Related Party

The Company will have to

consummate a business combination by June 6, 2025.

However, if the Company anticipates that it may not be able to consummate a

business combination within 12 months, the Company may extend the period of time to consummate a business combination up to twelve

times by an additional one month each time to complete a business combination.

Pursuant to the terms of the Company’s

memorandum and articles of association and the trust agreement entered into between the Company and the Trustee, both as amended, in

order to extend the time available for the Company to consummate a business combination, the Sponsor its affiliates or designees,

upon five days advance notice prior to the applicable deadline, must deposit into the Trust Account the applicable extension fees,

on or prior to the date of the applicable deadline, for each extension.

The Sponsor or its affiliates or designees will receive a

non-interest bearing, unsecured promissory note equal to the amount of any such deposit that will not be repaid in the event that

the Company is unable to close a business combination unless there are funds available outside the Trust Account to do so.

notes would either be paid upon consummation of the Company’s initial business combination or at the lender’s

discretion, converted upon consummation of the business combination into additional private units at a price of $ 10.00

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

On each of December 11, 2024 and January 13,

2025, the Company issued an unsecured promissory note in the amount of $ 227,700

to the Sponsor and United Hydrogen, pursuant to which such amount had been deposited into the Trust Account in order to extend the

amount of available time to complete a business combination until February 6, 2025.

On February 6, 2025, the Company entered into

the Trust Agreement Amendment to the Investment Management Trust Agreement with the Trustee.

Pursuant to the Trust Agreement

Amendment, the amount of funds to be deposited into the Trust Account in connection with the Extension, is adjusted from $ 0.033 per

each share sold in its IPO (for each monthly extension) to an amount equal to $ 150,000 for

all outstanding Public Shares (for each monthly extension).

The notes are non-interest bearing and are payable upon the closing of a

business combination.

In addition, the notes may be converted, at the lender’s discretion, into additional Private Units at a

price of $ 10.00 per

As of March 31, 2025 and December 31, 2024, the note payable balance was $ 755,400 and

respectively.

Working Capital Loan - Related Party

finance transaction costs in connection with a business combination, the Company’s Sponsor or an affiliate of the Sponsor, or the

Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital

Such Working Capital Loans would be evidenced by promissory notes.

The notes would either be repaid upon consummation

of a business combination, without interest, or, at the lender’s discretion, up to $ 1,500,000 of notes may be converted upon consummation

The notes would either be repaid upon consummation of

a business combination, without interest, or, at the lender’s discretion, up to $ 1,500,000 of notes may be converted upon consummation

of a business combination into additional Private Units at a price of $ 10.00 per Unit.

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held in the Trust Account would be used to repay the Working Capital Loans.

As of September 30, 2024 and December 31, 2023, there was

no amount outstanding under any Working Capital Loan.

to a related party

of September 30, 2024 and December 31, 2023, the Company had a total amount due to related party of $ 88,763 and $ 0 from a related party,

respectively, for the payment of costs related to general and administrative services, the Initial Public Offering and administrative

services agreement.

The balance is unsecured, interest-free and has no fixed terms of repayment.

Administrative

Services Arrangement

Sponsor has agreed, commencing from the date that the Company’s securities are first listed on Nasdaq, through the earlier of the

Company’s consummation of a business combination and its liquidation, to make available to the Company certain general and administrative

services, including office space, utilities and administrative services, as the Company may require from time to time.

The Company has

agreed to pay to the Sponsor, $ 10,000 per month, for up to 12 months, subject to extension to up to 24 months, as provided in the Company’s

As of March 31, 2025 and December 31, 2024, there was no amount

outstanding under any Working Capital Loan.

Due to a related company

As of March 31, 2025 and December 31, 2024, the Company

had a total amount due to related company of $ 472,926 and $ 289,780 from a related party, respectively, for the payment of costs

related to general and administrative services, the Initial Public Offering and administrative services agreement.

The balance is unsecured,

interest-free and has no fixed terms of repayment.

Administrative Services Arrangement

has agreed, commencing from the date that the Company’s securities are first listed on Nasdaq, through the earlier of the Company’s

consummation of a business combination and its liquidation, to make available to the Company certain general and administrative services,

including office space, utilities and administrative services, as the Company may require from time to time.

The Company has agreed to

pay to the Sponsor, $ 10,000 per month, for up to 12 months, subject to extension to up to 24 months, as provided in the Company’s

registration statement, for such administrative services.

As of September 30, 2024 and December 31, 2023, the unpaid balance was $ 90,000

and $ 0 , respectively, which is included in amount due to related party balance.

As of March 31, 2025 and December 31, 2024, the unpaid balance was $ 150,000 and

$ 120,000 , respectively, which is included in amount due to related company balance.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

6 – SHAREHOLDERS’ DEFICIT

Company is authorized to issue 500,000,000 ordinary shares with a par value of $ 0.0001 per share.

Holders of the Company’s ordinary

shares are entitled to one vote for each share.

On May 1, 2023, The Company entered into a subscription agreement for founder shares

with the Sponsor which is recorded as subscription receivable.

NOTE 6 – SHAREHOLDERS’ DEFICIT

Ordinary Shares

The Company is authorized to issue 500,000,000 ordinary

shares with a par value of $ 0.0001 per share.

Holders of the Company’s ordinary shares are entitled to one vote for each share.

On May 1, 2023, The Company entered into a subscription agreement for founder shares with the Sponsor which is recorded as subscription

The subscription agreement was amended and restated on May 24, 2023.

to the Initial Public Offering, the Company issued an aggregate of 50,000 ordinary shares of $ 1.00 par value each to Han Huang.

11, 2023, Han Huang transferred those ordinary shares to the Sponsor and on May 15, 2023, the Sponsor resolved to sub-divide the ordinary

shares of $ 1.00 par value each into ordinary shares of $ 0.0001 par value each and as such the Sponsor held 500,000,000 ordinary shares

of $ 0.0001 each.

On May 15, 2023, the directors resolved to repurchase 498,562,500 ordinary shares from the Sponsor, the repurchase resulting

in the Sponsor holding 1,437,500 ordinary shares.

On May 25, 2023, 1,437,500 founder shares were issued to the Sponsor pursuant to a

securities subscription agreement for an aggregate purchase price of $ 25,000 (up to 187,500 of which are subject to forfeiture depending

on the extent to which the underwriters’ over-allotment option is exercised) pursuant to a securities subscription agreement and

the 1,437,500 ordinary shares previously held by the Sponsor were repurchased by the Company, the shares having been retroactively adjusted.

Prior to the Initial Public Offering, the Company issued

an aggregate of 50,000 ordinary shares of $ 1.00 par value each to Han Huang.

On May 11, 2023, Han Huang transferred those ordinary

shares to the Sponsor and on May 15, 2023, the Sponsor resolved to sub-divide the ordinary shares of $ 1.00 par value each into ordinary

shares of $ 0.0001 par value each and as such the Sponsor held 500,000,000 ordinary shares of $ 0.0001 each.

15, 2023, the directors resolved to repurchase 498,562,500 ordinary shares from the Sponsor, the repurchase resulting in the

Sponsor holding 1,437,500 ordinary shares.

On May 25, 2023, 1,437,500 founder shares were issued to the Sponsor pursuant

to a securities subscription agreement for an aggregate purchase price of $ 25,000 (up to 187,500 of which are subject to

forfeiture depending on the extent to which the underwriters’ over-allotment option is exercised) pursuant to a securities subscription

agreement and the 1,437,500 ordinary shares previously held by the Sponsor were repurchased by the Company, the shares having

been retroactively adjusted.

As of May 8, 2023, $ 25,000 was included as a subscription receivable.

On September 15, 2023, the Company received $ 25,000 in cash.

Sponsor transferred 152,000 of those ordinary shares among the Company’s Chief Executive Officer, Chief Financial Officer and three

independent director nominees at their original purchase price pursuant to executed securities assignment agreements, effective as of

May 25, 2023.

On October 20, 2023, the Company capitalized an amount equal to $ 28.75 standing to the credit of the share premium account

and appropriated such sum and applied it on behalf of the Sponsor towards paying up in full (as to the full par value of $ 0.0001 per

founder share) 287,500 unissued ordinary shares of $ 0.0001 par value and allotted such shares credited as fully paid to the Sponsor,

resulting in 1,725,000 ordinary shares being issued and outstanding.

225,000 shares of such ordinary shares are not subject to forfeiture

as the underwriters’ over-allotment was exercised in full.

The initial shareholders will collectively own approximately 20 % of

the Company’s issued and outstanding shares after the Initial Public Offering (assuming the initial shareholders do not purchase

any Public Shares in the Initial Public Offering and excluding the Private Units and underlying securities).

of September 30, 2024 and December 31, 2023, as a result of the closing of the Initial Public Offering and full exercise of the underwriters’

over-allotment option, there were 2,126,000 ordinary shares issued and outstanding, excluding 6,900,000 ordinary shares subject to possible

holder of a right will receive one-fifth (1/5) of one ordinary share upon consummation of a business combination, even if the holder

of such right redeemed all shares held by it in connection with a business combination.

No fractional shares will be issued upon exchange

of the rights.

No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares

upon consummation of a business combination as the consideration related thereto has been included in the unit purchase price paid for

by investors in the Initial Public Offering.

If the Company enters into a definitive agreement for a business combination in which the

Company will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share

consideration the holders of the ordinary share will receive in the transaction on an as-converted into ordinary share basis and each

holder of a right will be required to affirmatively convert its rights in order to receive 1/5th of one share underlying each right (without

paying additional consideration).

The shares issuable upon exchange of the rights will be freely tradable (except to the extent held

by affiliates of the Company).

Additionally,

in no event will the Company be required to net cash to settle the rights.

If the Company is unable to complete a business combination

within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of rights will not receive any

of such funds with respect to their rights, nor will they receive any distribution from the Company’s assets held outside of the

Trust Account with respect to such rights.

Accordingly, the rights may expire worthless.

On September 15, 2023, the Company

received $ 25,000 in cash.

The Sponsor transferred 152,000 of those ordinary shares among the Company’s Chief Executive

Officer, Chief Financial Officer and three independent director nominees at their original purchase price pursuant to executed securities

assignment agreements, effective as of May 25, 2023.

On October 20, 2023, the Company capitalized an amount equal to $ 28.75 standing

to the credit of the share premium account and appropriated such sum and applied it on behalf of the Sponsor towards paying up in full

(as to the full par value of $ 0.0001 per founder share) 287,500 unissued ordinary shares of $ 0.0001 par value and

allotted such shares credited as fully paid to the Sponsor, resulting in 1,725,000 ordinary shares being issued and outstanding.

225,000 shares of such ordinary shares are not subject to forfeiture as the underwriters’ over-allotment was exercised in full.

The initial shareholders will collectively own approximately 20 % of the Company’s issued and outstanding shares after the Initial

Public Offering (assuming the initial shareholders do not purchase any Public Shares in the Initial Public Offering and excluding the

Private Units and underlying securities).

On February 5, 2025, in connection with the stockholders

vote at the Adjourned Meeting, 2,904,267 shares were redeemed by certain shareholders at a price of approximately $ 10.77 per share, including

interest generated and extension payments deposited in the Trust Account, in an aggregate amount of approximately $ 31.27 million.

As of March 31, 2025 and December 31, 2024, as a result

of the closing of the Initial Public Offering and full exercise of the underwriters’ over-allotment option, there were 2,126,000

ordinary shares issued and outstanding, excluding 3,995,773 and 6,900,000 ordinary shares subject to possible redemption, respectively.

Each holder of a right will receive one-fifth (1/5)

of one ordinary share upon consummation of a business combination, even if the holder of such right redeemed all shares held by it in

connection with a business combination.

No fractional shares will be issued upon exchange of the rights.

No additional consideration will

be required to be paid by a holder of rights in order to receive its additional shares upon consummation of a business combination as

the consideration related thereto has been included in the unit purchase price paid for by investors in the Initial Public Offering.

the Company enters into a definitive agreement for a business combination in which the Company will not be the surviving entity, the definitive

agreement will provide for the holders of rights to receive the same per share consideration the holders of the ordinary share will receive

in the transaction on an as-converted into ordinary share basis and each holder of a right will be required to affirmatively convert its

rights in order to receive 1/5th of one share underlying each right (without paying additional consideration).

The shares issuable upon

exchange of the rights will be freely tradable (except to the extent held by affiliates of the Company).

Additionally, in no event will the Company be required

to net cash to settle the rights.

If the Company is unable to complete a business combination within the Combination Period and the Company

liquidates the funds held in the Trust Account, holders of rights will not receive any of such funds with respect to their rights, nor

will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such rights.

the rights may expire worthless.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

7 – COMMITMENTS AND CONTINGENCIES

holders of the insider shares, as well as the holders of the Private Units (and underlying securities) and any securities issued in payment

of Working Capital Loans made to the Company, will be entitled to registration rights pursuant to an agreement to be signed prior to

or on the effective date of the Initial Public Offering.

The holders of a majority of these securities are entitled to make up to three

demands that the Company register such securities at any time after the Company consummates a business combination.

In addition, the

holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation

of a business combination.

NOTE 7 – COMMITMENTS AND CONTINGENCIES

Registration Rights

of the insider shares, as well as the holders of the Private Units (and underlying securities) and any securities issued in payment of

Working Capital Loans made to the Company, will be entitled to registration rights pursuant to an agreement to be signed prior to or on

the effective date of the Initial Public Offering.

The holders of a majority of these securities are entitled to make up to three demands

that the Company register such securities at any time after the Company consummates a business combination.

In addition, the holders have

certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of a

business combination.

The Company will bear the expenses incurred in connection with the filing of any such registration statements.

initial shareholders and their permitted transferees can demand that the Company register the founder shares, the Private Units and the

underlying Private Shares, and the units issuable upon conversion of working capital loans and the underlying ordinary shares and rights,

pursuant to an agreement to be signed prior to or on the effective date requiring the Company to register such securities for resale.

The holders of such securities are entitled to demand that the Company register these securities at any time after consummation of an

initial business combination.

Notwithstanding anything to the contrary, any holder that is affiliated with an underwriter participating

in the Initial Public Offering may only make a demand on one occasion and only during the five-year period beginning on the effective

date of the registration statement.

In addition, the holders have certain “piggy-back” registration rights on registration

statements filed after the Company’s consummation of a business combination;

provided that any holder that is affiliated with an

underwriter participating in the Initial Public Offering may participate in a “piggy-back” registration only during the seven-year

period beginning on the effective date of the registration statement.

Representative

Company issued 69,000 ordinary shares to the representative (and/or its designees) (the “representative shares”) as part

shareholders and their permitted transferees can demand that the Company register the founder shares, the Private Units and the underlying

Private Shares, and the units issuable upon conversion of working capital loans and the underlying ordinary shares and rights, pursuant

to an agreement to be signed prior to or on the effective date requiring the Company to register such securities for resale.

of such securities are entitled to demand that the Company register these securities at any time after consummation of an initial business

Notwithstanding anything to the contrary, any holder that is affiliated with an underwriter participating in the Initial

Public Offering may only make a demand on one occasion and only during the five-year period beginning on the effective date of the registration

In addition, the holders have certain “piggy-back” registration rights on registration statements filed after the

Company’s consummation of a business combination;

provided that any holder that is affiliated with an underwriter participating

in the Initial Public Offering may participate in a “piggy-back” registration only during the seven-year period beginning

on the effective date of the registration statement.

Representative Shares

issued 69,000 ordinary shares to the representative (and/or its designees) (the “representative shares”) as part

of representative compensation as the underwriters exercised their over-allotment option in full.

2 unchanged sentences

of sales in the Initial Public Offering pursuant to FINRA Rule 5110 (e)(1).

Pursuant to FINRA Rule 5110(e)(1), these securities will

not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the

securities by any person for a period of 180 days immediately following the date of the commencement of sales in the Initial Public Offering,

nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the date of the commencement

Pursuant to FINRA Rule 5110(e)(1), these securities will not

be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities

by any person for a period of 180 days immediately following the date of the commencement of sales in the Initial Public Offering, nor

may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the date of the commencement

of sales in the Initial Public Offering except to any underwriter and selected dealer participating in the offering and their officers,

partners, registered persons or affiliates.

underwriters purchased 900,000 additional Units to cover over-allotments.

underwriters were entitled to a cash underwriting discount of:

(i) two percent ( 2.00 %) of the gross proceeds of the Initial Public Offering,

or $ 1,380,000 as the underwriters’ over-allotment is exercised in full.

In addition, the underwriters are entitled to a deferred

fee of one percent ( 1.0 %) of the gross proceeds of the Initial Public Offering, or $ 690,000 as the underwriters’ over-allotment

is exercised in full upon closing of the business combination.

The deferred fee will be paid in cash upon the closing of a business combination

from the amounts held in the Trust Account, subject to the terms of the underwriting agreement.

In addition, the Company has paid the

representative of the underwriters, at the closing of the Initial Public Offering, 1.00 % of the gross proceeds in the Company’s

ordinary shares or 69,000 ordinary shares as the underwriters’ over-allotment is exercised in full.

of First Refusal

a period beginning on the closing of the Initial Public Offering and ending 12 months from the closing of a business combination, the

Company has granted Spartan Capital Securities, LLC, a right of first refusal to act as the sole investment banker, sole book running

manager and/or sole placement agent for any and all future private or public equity, equity-linked, convertible and debt offerings during

In accordance with FINRA Rule 5110(g)(6)(A), such right of first refusal shall not have a duration of more than three years

from the commencement of sales in the Initial Public Offering.

Underwriter Agreement

The underwriters

purchased 900,000 additional Units to cover over-allotments.

The underwriters

were entitled to a cash underwriting discount of:

(i) two percent ( 2.00 %) of the gross proceeds of the Initial Public Offering, or $ 1,380,000 as

the underwriters’ over-allotment is exercised in full.

In addition, the underwriters are entitled to a deferred fee of one percent

( 1.0 %) of the gross proceeds of the Initial Public Offering, or $ 690,000 as the underwriters’ over-allotment is exercised in

full upon closing of the business combination.

The deferred fee will be paid in cash upon the closing of a business combination from the

amounts held in the Trust Account, subject to the terms of the underwriting agreement.

In addition, the Company has paid the representative

of the underwriters, at the closing of the Initial Public Offering, 1.00 % of the gross proceeds in the Company’s ordinary shares

or 69,000 ordinary shares as the underwriters’ over-allotment is exercised in full.

Right of First Refusal

For a period beginning on the closing of the Initial

Public Offering and ending 12 months from the closing of a business combination, the Company has granted Spartan Capital Securities, LLC,

a right of first refusal to act as the sole investment banker, sole book running manager and/or sole placement agent for any and all future

private or public equity, equity-linked, convertible and debt offerings during such period.

In accordance with FINRA Rule 5110(g)(6)(A),

such right of first refusal shall not have a duration of more than three years from the commencement of sales in the Initial Public Offering.

HEALTH TECHNOLOGY CO., LTD

TO UNAUDITED FINANCIAL STATEMENTS

NOTE 8 – SEGMENT INFORMATION

ASC Topic 280, Segment Reporting , establishes

standards for companies to report in their unaudited financial statement information about operating segments, products, services, geographic

areas, and major customers.

Operating segments are defined as components of an enterprise for which separate financial information is

available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding

how to allocate resources and assess performance.

The Company’s CODM has been identified as the

Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and

assessing financial performance.

Accordingly, management has determined that the Company only has one operating segment.

When evaluating the Company’s performance and

making key decisions regarding resource allocation, the CODM reviews key metrics, which includes formation and operating costs and interest

and dividend earned on investments held in Trust Account which are included in the accompanying unaudited statements of operations.

The key measures of segment profit or loss reviewed

by the CODM are earned on investments held in Trust Account and formation and operating costs.

The CODM reviews earned on investments

held in Trust Account to measure and monitor stockholder value and determine the most effective strategy of investment with the Trust

Account funds while maintaining compliance with the trust agreement.

Formation and operating costs are reviewed and monitored by the CODM

to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination period.

The CODM also reviews formation and operating costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned

with all agreements and budget.

9 – SUBSEQUENT EVENTS

accordance with ASC Topic 855, “ Subsequent Events ”, which establishes general standards of accounting for and disclosure

of events that occur after the balance sheet date, the Company has evaluated all events or transactions that occurred after the balance

Other than as described in these unaudited financial statements, the Company did not identify any subsequent events that

would have required adjustment or disclosure in the unaudited financial statements.

In accordance

with ASC Topic 855, “ Subsequent Events ”, which establishes general standards of accounting for and disclosure of events

that occur after the balance sheet date, the Company has evaluated all events or transactions that occurred after the balance sheet date

through the date the unaudited financial statements were issued.

On April 4, 2025, the Company issued an unsecured

promissory note in an amount of $ 150,000 to the Sponsor and United Hydrogen, pursuant to which such amount had been deposited into the

Trust Account in order to extend the amount of available time to complete a business combination until May 6, 2025.

On May 6, 2025, the Company issued an unsecured promissory

note in an amount of $ 150,000 to the Sponsor and United Hydrogen, pursuant to which such amount had been deposited into the Trust Account

in order to extend the amount of available time to complete a business combination until June 6, 2025.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements