Rising Dragon Acquisition Business Summary

Rising Dragon Acquisition Corp. (RDAC) is a special purpose acquisition company (SPAC) that currently operates as a blank check vehicle, generating non-operational revenue primarily through interest income on its trust account. The company’s business model is centered on identifying and executing a business combination with a high-growth target, specifically focusing on small-cap enterprises in the technology, media, and healthcare sectors across North America, Europe, and the Asia-Pacific region. As of February 2026, RDAC is in the final stages of a merger with HZJL Cayman Limited, a comprehensive solution provider that generates revenue through branding, software-as-a-service (SaaS), and supply chain management services for local businesses. Within the competitive landscape of the financial services and shell company industry, RDAC competes directly with other small-cap SPACs such as Melar Acquisition Corp. I (MACI), Crown Reserve Acquisition Corp. I (CRAC), and Innventure (INV). RDAC distinguishes itself by targeting innovative technology-driven models in emerging markets, positioning itself as a bridge for private Asian-based entities to access public capital via the Nasdaq. Rising Dragon is led by Chairman and Chief Executive Officer Lulu Xing and Chief Financial Officer Wenyi Shen. Xing brings a robust pedigree in cross-border transactions, private equity, and investment banking, having previously managed diverse portfolios in the Asian financial markets. The leadership team is supported by a board of directors that includes Kei Tung Yeung, Kun-Lin Liu, and Robert Wilson Garner, who provide expertise in financial structuring and corporate governance. Following the anticipated closure of the HZJL merger, the leadership is expected to transition to include Bin Xiong as a key executive of the surviving entity, Xpand Boom Technology Inc. The company is backed by its sponsor, Aurora Beacon LLC, and maintains a notable institutional investor base that includes Karpus Management, Inc., which holds a significant 9.82% stake, and Goldman Sachs Group Inc., reflecting strong institutional confidence in the firm’s strategic acquisition path.