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• E-commerce Platform Services: Operates an online marketplace enabling consumers to purchase agricultural products, food, and various general merchandise.
• Supply Chain Management: Provides integrated services for sourcing, logistics, and distribution, primarily focused on fresh produce and other agricultural products.
• Community Group Buying: Facilitates collective purchasing programs for groups of consumers to obtain discounts on groceries and daily necessities.

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Chenghe Acquisition III (symbol: CHEC) is a Special Purpose Acquisition Company (SPAC).

As a SPAC, its primary business involves raising capital through an initial public offering (IPO) with the sole purpose of identifying and acquiring an existing private operating company. It does not engage in traditional business operations, manufacture products, or provide services to customers.

Therefore, Chenghe Acquisition III does not have "major customers" in the conventional sense of companies or individuals purchasing goods or services. Its primary stakeholders are its shareholders and institutional investors who provide the capital for its acquisition activities, and the target company it seeks to merge with.

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Shibin Wang

Chief Executive Officer & Chairman

Lyle Wang

Chief Financial Officer & Director

Houston Li

Chief Operating Officer

Richard Li

Chairman of the Advisory Board

Kwan Sun

Independent Director

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The key risks to the business of Chenghe Acquisition III (symbol: CHEC), a Special Purpose Acquisition Company (SPAC), are primarily associated with its operational model.

1. Failure to Complete a Business Combination: As a blank-check company, Chenghe Acquisition III's sole purpose is to identify and complete a merger, share exchange, asset acquisition, or similar business combination within a specified timeframe. The company has not yet identified a specific acquisition target. The failure to consummate a business combination within the allotted time would likely lead to the company's liquidation and the return of capital to investors, posing the most significant risk to the business.
2. Potential for Shareholder Dilution from Warrants: Chenghe Acquisition III’s IPO units include redeemable warrants that will become exercisable 30 days after the completion of an initial business combination at a price of $11.50 per share. The exercise of these warrants would increase the number of outstanding shares and could result in dilution for existing shareholders.
3. Geographical Concentration Risk in Asian Markets: The company intends to focus its search for acquisition targets on growing companies in Asian markets or global companies with a presence or focus in Asia. This geographical focus introduces a concentration risk, as adverse economic, regulatory, or political conditions in Asian markets could limit suitable acquisition opportunities or negatively impact the prospects of a future acquired business.

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Chenghe Acquisition III (CHEC) is a Special Purpose Acquisition Company (SPAC) that completed its initial public offering in September 2025. As a blank check company, its future revenue growth is entirely contingent upon the successful identification and consummation of a business combination with one or more operating businesses. Currently, CHEC itself does not have ongoing revenue-generating operations or provide traditional forward guidance on revenue drivers. However, based on its stated objectives, the expected drivers of future revenue growth over the next 2-3 years will stem from:

• Successful Business Combination: The primary driver of future revenue will be the successful completion of a merger, share exchange, asset acquisition, or similar business combination with a target company. The nature and scale of the acquired business will directly dictate CHEC's revenue generation.
• Growth of the Acquired Operating Business: Following a business combination, revenue growth will be driven by the operational performance of the acquired entity. This could include factors such as organic growth within the acquired company's existing markets, expansion into new geographical regions, or the introduction of new products and services by the acquired business.
• Focus on Asian Markets and New Economic Industries: CHEC intends to focus its search for an acquisition target on growing companies in Asian markets or global companies with a significant presence in Asia. Specifically, it aims to target "cutting-edge new economic industries, including but not limited to TMT (Technology, Media, and Telecommunications), green energy, biotechnology, and optoelectronics." Therefore, the growth potential inherent in these targeted high-growth sectors within Asia will be a significant driver of future revenue for the combined entity.

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Share Issuance

• Chenghe Acquisition III Co. priced its initial public offering of 11,000,000 units at $10.00 per unit, raising $110 million on September 15, 2025.
• The company closed its initial public offering, including the full exercise of the underwriter's overallotment option, with 12,650,000 units at $10.00 each, generating gross proceeds of $126,500,000.
• A simultaneous private placement of 408,000 units at $10.00 per unit resulted in an additional $4,080,000 in gross proceeds.

Inbound Investments

• The private placement units, generating $4,080,000, were sold to Chenghe Investment III Limited, Chenghe Investment III LLC, and the underwriter, BTIG, LLC.
• On November 28, 2025, PICTON MAHONEY ASSET MANAGEMENT acquired 1,000,000 shares of Chenghe Acquisition III Co. at $9.96 per share, marking a new holding in the firm's portfolio.

Outbound Investments

• As a Special Purpose Acquisition Company (SPAC), Chenghe Acquisition III Co. focuses on effecting a merger, share exchange, asset acquisition, or similar business combination.
• The company intends to focus its search on growing companies in Asian markets or global companies with a presence or focus in Asia.
• As of December 2025, Chenghe Acquisition III Co. has not yet completed a business combination.

Capital Expenditures

• The average capital expenditure for Chenghe Acquisition III Co. over the past 5 years is calculated as $0.
• As a blank check company, it had not commenced any operations as of December 31, 2023, and would not generate operating revenues until after completing its initial business combination.