Exhibit 99.1

WING YIP FOOD HOLDINGS GROUP LIMITED AND ITS SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars, except for the number of shares)

	As of September 30, 2024			As of December 31, 2023
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	110,766,415		$	90,963,594
Restricted cash		915,698			—
Accounts receivable, net		9,914,196			7,347,892
Inventories		5,856,493			6,576,151
Prepaid expenses and other current assets		3,628,036			3,922,368
TOTAL CURRENT ASSETS	$	131,080,838		$	108,810,005
NON-CURRENT ASSETS:
Property, plant and equipment, net	$	67,700,083		$	70,510,340
Intangible assets, net		51,064			56,069
Land-use rights, net		636,685			650,187
Right-of-use assets		204,439			215,392
Deferred offering costs		1,070,608			605,866
Other non-current assets		173,206			174,317
TOTAL NON-CURRENT ASSETS	$	69,836,085		$	72,212,171
TOTAL ASSETS	$	200,916,923		$	181,022,176
LIABILITIES
CURRENT LIABILITIES:
Short-term loans	$	5,557,456		$	6,478,964
Long-term loans		2,164,201			781,701
Accounts payable		15,003,376			7,786,391
Deferred income		53,132			65,495
Accrued expenses and other payables		2,240,720			3,433,862
Taxes payable		2,517,577			857,512
Lease liabilities		23,326			41,985
TOTAL CURRENT LIABILITIES	$	27,559,788		$	19,445,910
NON-CURRENT LIABILITIES:
Long-term loans	$	15,547,246		$	16,726,570
Lease liabilities		169,032			212,615
Deferred tax liabilities		1,601,179			1,580,428
TOTAL NON-CURRENT LIABILITIES	$	17,317,457		$	18,519,613
TOTAL LIABILITIES	$	44,877,245		$	37,965,523
COMMITMENTS AND CONTINGENCIES		—			—
SHAREHOLDERS’ EQUITY
Ordinary shares (47,973,428 shares issued and outstanding as of September 30, 2024 and December 31, 2023)	$	37,370,297		$	37,370,297
Additional paid-in capital		—			—
Statutory reserve		10,435,949			10,435,949
Accumulated other comprehensive loss		(3,158,361	)		(5,119,036	)
Retained earnings		111,391,793			100,369,443
TOTAL SHAREHOLDERS’ EQUITY	$	156,039,678		$	143,056,653
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	200,916,923		$	181,022,176

F-1

WING YIP FOOD HOLDINGS GROUP LIMITED AND ITS SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Expressed in U.S. Dollars, except for the number of shares)

	For the nine months ended September 30,
	2024			2023
Revenue	$	105,679,367		$	98,568,069
Cost of revenue		(72,031,579	)		(63,703,428	)
Gross profit		33,647,788			34,864,641
Operating expenses:
Selling expenses		(14,967,668	)		(12,647,124	)
General and administrative expenses		(2,755,130	)		(3,121,788	)
Research and development expenses		(3,029,250	)		(2,692,314	)
Total operating expenses		(20,752,048	)		(18,461,226	)
Other income (expenses):
Interest income		148,448			132,925
Interest expenses		(808,795	)		(716,982	)
Other income, net		12,802			62,856
Other expense, net		(350,005	)		(2,091,124	)
Exchange gain (loss)		9,844			(29,757	)
Total other expenses, net		(987,706	)		(2,642,082	)
Income before income tax		11,908,034			13,761,333
Income tax expenses		(885,684	)		(3,549,744	)
Net income	$	11,022,350		$	10,211,589
Other comprehensive income
Foreign currency translation adjustments, net of tax		(1,960,675	)		7,629,392
Comprehensive income	$	9,061,675		$	17,840,981
Earnings per share, basic and diluted	$	0.23		$	0.21
Weighted average number of shares		47,973,428			47,973,428

F-2

WING YIP FOOD HOLDINGS GROUP LIMITED AND ITS SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars, except for the number of shares)

	For the nine months ended September 30,
	2024			2023
Cash flows from operating activities:
Net income	$	11,022,350		$	10,211,589
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation of property, plant and equipment		3,141,040			3,692,757
Property, plant and equipment written off		268,313			2,020,780
Allowance for doubtful accounts		3,691			—
Amortization of intangible assets		6,751			4,717
Amortization of land use right		20,598			21,076
Amortization of right-of-use asset		19,314			173,316
Deferred income taxes		20,751			1,820,936
Changes in operating assets and liabilities:
Accounts receivable		(2,569,995	)		(3,009,276	)
Inventories		719,658			2,581,270
Prepaid expenses and other current assets		294,336			3,469,653
Other non-current assets		1,111			35,423
Accounts payable		7,216,985			(2,358,210	)
Deferred revenue		(12,363	)		(17,288	)
Taxes payable		1,660,065			(88,757	)
Lease liabilities		(62,242	)		(134,913	)
Accrued expenses and other payables		(1,193,142	)		(423,104	)
Net cash provided by operating activities		20,557,221			17,999,969
Cash flows from investing activities:
Purchase of property, plant and equipment		(11,992	)		(4,649	)
Purchase of intangible assets		(570	)		—
Net cash used in investing activities		(12,562	)		(4,649	)
Cash flows from financing activities:
Proceeds from short-term loans		5,842,453			6,304,825
Proceeds from long-term loans		1,184,018			5,051,778
Repayment of short-term loans		(1,118,405	)		(233,004	)
Repayment of long-term loans		(6,839,945	)		(3,700,658	)
Deferred offering costs		(464,742	)		(248,753	)
Net cash (used in) provided by financing activities		(1,396,621	)		7,174,188
Effect of exchange rate changes on cash held in foreign currencies		1,570,481			(4,960,479	)
Net increase in cash		20,718,519			20,209,029
Cash at beginning of the year		90,963,594			67,393,694
Cash at end of the year	$	111,682,113		$	87,602,723
Supplemental disclosures of cash flows information:
Cash paid for income taxes		3,598,713			2,437,472
Cash paid for interest expense		752,805			663,978
Supplemental non-cash financing activity:
Lease liabilities arising from obtaining right-of-use assets		—			7,977

F-3