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• Business Combination Service: This company's core service is to identify, negotiate, and complete a merger or acquisition with an existing private operating company.
• Public Market Access Facilitation: It provides a mechanism for a private company to become publicly traded and access capital markets, serving as an alternative to a traditional initial public offering.

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Company: AA Mission Acquisition II (YCY)

Customer Information:

AA Mission Acquisition II (YCY) is a Special Purpose Acquisition Company (SPAC). SPACs are formed with the primary purpose of raising capital through an initial public offering (IPO) to acquire an existing private company. They do not operate an ongoing business or sell goods and services in the traditional sense until they complete a business combination.

Therefore, AA Mission Acquisition II does not have major customers that purchase products or services. Its key stakeholders are its investors (shareholders) who purchase its units, ordinary shares, and warrants in anticipation of a successful merger or acquisition.

Once AA Mission Acquisition II successfully completes an acquisition, the acquired entity will have its own customer base. However, in its current form as a SPAC, YCY does not have customers.

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• B. Riley Financial, Inc. (RILY)
• Kirkland & Ellis LLP
• Marcum LLP
• Continental Stock Transfer & Trust Company
• Vinson & Elkins L.L.P.

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Qing Sun, Chairman of the Board of Directors & Chief Executive Officer

Mr. Sun has served as Chairman & CEO of AA Mission Acquisition Corp. since February 2024 and AA Mission Acquisition Corp. II. He has also been the Chairman of Guizhou JS Investment Co. Ltd. since 2023 and the President of the Hainan Economic Research Institute since 2020. Furthermore, Mr. Sun has served as the Deputy Director of the Securities Investor Education Department of Fudan University in Shanghai and a Senior researcher since 2017, and has been the Lead Securities Trader at Dianniu Priority Securities Investment since 1998.

Shibin Fang, Chief Financial Officer and Executive Director

Mr. Fang currently serves as the Chief Financial Officer and executive director. He has served as a CPA and Auditor for Shenzhen Zhongxiang Accounting Firm since 2022 and for Guangdong Zhongchen since 2019. From 2017 to 2019, he was a CPA and accountant at the Shenzhen Renault Accounting Firm. Mr. Fang possesses over 10 years of tax work experience and more than 15 years of audit experience, specializing in financial auditing and tax assurance.

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The most significant risk to AA Mission Acquisition II is its **deep ties to the People's Republic of China, which presents substantial legal, operational, and regulatory uncertainties.** All executive officers and directors of the company are located in or have significant ties to the PRC. This exposes the company and its investors to considerable risks, including potential actions by China in the areas of regulatory oversight, liquidity, and enforcement. There is a risk that Chinese authorities could view the company as subject to their regulatory authority, which could hinder its ability to offer securities, materially change its operations, and cause the value of its securities to significantly decline or become worthless. Furthermore, if the company pursues a business combination with a target in China or Hong Kong, it may become subject to Chinese laws and regulations that are often vague and uncertain, potentially leading to material changes in the combined company's operations, significant depreciation of security values, or preventing future offerings.

A second key risk arises from the company's **status as a blank check company (SPAC) and the inherent uncertainty in successfully completing a business combination.** As a SPAC, AA Mission Acquisition II was formed solely to effect a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. SPACs typically have a limited timeframe, often two years, to identify and complete an acquisition. There is no guarantee that the company will successfully identify and complete a suitable business combination within the required timeframe. The failure to complete an initial business combination would result in the company winding down and returning funds to shareholders, though sponsors would lose their initial investment. The company also has no operating history or revenues, having incurred net losses to date.

Finally, **the potential for significant dilution and a misalignment of interests between the SPAC's sponsors and public shareholders** represents another important risk. The company's sponsors purchased founder shares at a nominal price, which can lead to substantial dilution for public shareholders. SPAC structures frequently include warrants or other instruments that allow sponsors to acquire additional shares at a discount after an acquisition, which can further dilute existing investors' holdings. Additionally, sponsors have a strong incentive to complete a de-SPAC transaction, as their remuneration depends on it, potentially leading them to pursue a combination that may not be the most profitable option for all shareholders.

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• The significantly cooled market for Special Purpose Acquisition Companies (SPACs) presents a clear emerging threat. This includes increased difficulty in identifying attractive merger targets, higher shareholder redemption rates upon deal announcement, and challenges in securing Private Investment in Public Equity (PIPE) financing, all of which threaten AA Mission Acquisition II's ability to complete a successful acquisition within its limited timeframe.

• Heightened regulatory scrutiny from bodies like the U.S. Securities and Exchange Commission (SEC) and the potential for new, more stringent rules for SPACs represent an emerging threat. These changes could increase the complexity, cost, and overall difficulty of executing a SPAC merger, impacting the viability of the business model AA Mission Acquisition II operates within.

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1. Successful Completion of a Business Combination: The most critical driver of future revenue growth is the successful identification and completion of an initial business combination. Without acquiring an operating business, AA Mission Acquisition II will not generate any revenue.
2. Strategic Focus on the Food and Beverage Industry: The company has indicated its intention to focus on acquisition opportunities within the food and beverage industry. The revenue growth of the combined entity will be driven by the performance and market position of the acquired company within this specific sector.
3. Growth Potential and Synergies of the Acquired Business: Upon the successful acquisition of a target company, the future revenue growth will then be propelled by the inherent growth strategies of that acquired business. These strategies could include factors such as expansion into new markets, introduction of new products or services, increased customer acquisition, or operational efficiencies creating synergies within the food and beverage sector.

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Share Issuance

• AA Mission Acquisition Corp. II completed an initial public offering (IPO) in early October 2025, raising $100 million in gross proceeds by selling 10,000,000 units at $10.00 per unit.
• Each unit issued in the IPO consists of one Class A ordinary share and one-half of one redeemable warrant.
• Concurrently with the IPO, the company completed a private placement with its sponsor, issuing 334,000 units at $10.00 per unit, which generated an additional $3.34 million in gross proceeds.

Inbound Investments

• AA Mission Sponsor II, the company's sponsor, made an inbound investment of $3.34 million through a private placement, purchasing 334,000 units at $10.00 per unit simultaneously with the IPO.

Outbound Investments

• As a blank check company (SPAC), AA Mission Acquisition Corp. II was formed with the purpose of effecting a merger, share exchange, asset acquisition, or similar business combination with one or more businesses.
• The company intends to focus its acquisition efforts on the food and beverage industry.
• The target businesses for acquisition are expected to have enterprise values between $200 million and $1 billion.