EX-99.1 2 ea027141801ex99-1_jyong.htm UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2025, AND UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024

Exhibit 99.1 

JYONG BIOTECH LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousand US Dollars, except share and per share data)

		As of December 31, 2024				As of June 30, 2025
		Audited				Unaudited
ASSETS
Current Assets
Cash		$	98			$	132
Restricted cash			3				3
Short-term investments			-				16,875
Prepayments and other current assets			105				153
Total current assets			206				17,163
Property and equipment, net			3,049				3,358
Operating right-of-use assets			137				94
Deferred offering costs			934				-
Restricted asset			2,034				2,049
Loan receivable from shareholder			-				15,000
Other non-current assets			6				7
Total non-current assets			6,160				20,508
TOTAL ASSETS		$	6,366			$	37,671
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities
Short-term bank loans		$	7,225			$	22,436
Notes and accounts payable			3				3
Accrued expenses			1,203				991
Accrued expenses due to related parties			147				219
Current portion of long-term bank loans			57				349
Operating lease liabilities due to related parties-current			159				131
Other current liabilities			3,292				3,366
Other current liabilities due to related parties			41				59
Total current liabilities			12,127				27,554
Long-term loan from related parties			5,515				7,195
Long-term loan from third parties			3,131				3,131
Long-term bank loans, net of current portion			2,032				1,945
Operating lease liabilities due to related parties – non-current			16				7
Other non-current liabilities			58				58
Other non-current liabilities due to related parties			628				628
Guarantee liabilities			19,378				19,625
Total non-current liabilities			30,758				32,589
TOTAL LIABILITIES			42,885				60,143
Commitments and contingencies
Shareholders’ deficit
Ordinary shares, $0.00001 par value; 5,000,000 thousand shares authorized; 73,361 thousand and 76,028 thousand shares issued and outstanding as of December 31, 2024 and June 30, 2025, respectively			1				1
Additional paid-in capital			11,805				28,263
Treasury shares, 1,794 thousand shares as of December 31, 2024 and June 30, 2025			(16,366	)			(16,366	)
Accumulated deficit			(33,080	)			(34,332	)
Accumulated other comprehensive income (loss)			1,121				(38	)
Total shareholders’ deficit			(36,519	)			(22,472	)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT		$	6,366			$	37,671

JYONG BIOTECH LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(in thousand US Dollars, except share data in thousands and per share data)

		For the six months ended June 30,
		2024				2025
		Unaudited				Unaudited
Operating expenses
Research and development		$	(499	)		$	(367	)
Selling and marketing			(21	)			(20	)
General and administrative			(431	)			(429	)
Total operating expenses			(951	)			(816	)
Loss from operations			(951	)			(816	)
Other incomes (expenses):
Interest income			6				24
Interest expenses			(448	)			(417	)
Other gains (losses), net			67				(43	)
Total other expenses, net			(375	)			(436	)
Loss before income tax			(1,326	)			(1,252	)
Income tax expense			-				-
Net loss			(1,326	)			(1,252	)
Other comprehensive income (loss)
Foreign currency translation adjustments, net of nil tax			473				(1,163	)
Unrealized gain on short term investments, net of nil tax			-				4
Total other comprehensive income (loss)			473				(1,159	)
Total comprehensive loss		$	(853	)		$	(2,411	)
Net loss per share:
Basic and Diluted		$	(0.02	)		$	(0.02	)
Weighted average shares outstanding (in thousands):
Basic and Diluted			71,567				71,758