Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 228

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 228
---
 major
source of clients is mainland China. Due to the unfavorable economic environment in mainland China throughout the 2024 calendar year,
the growth rate of the Hong Kong insurance industry has also adversely impacted.

The company projects that
it will achieve the same 33% revenue growth rate in the 2026 fiscal year as projected for the 2025 fiscal year, based on the following
key factors: (1) To diversify revenue streams, the company is actively expanding into Southeast Asian and European markets. This strategic
initiative is projected to yield a substantial increase in both customer acquisition and policy sales volume; (2) The company will strengthen
its internal management processes, with a focus on promoting financial and health insurance products. This will improve underwriting
efficiency and drive rapid growth in monthly policy issuance; (3) Successful completion of the business combination and subsequent listing
will significantly enhance the company’s brand influence. This will not only increase client acquisition through existing distribution
network but also provide leverage for expansion into new markets.

The HCYC Management Projections reflect the consistent application of the accounting policies of HCYC and should be read in conjunction with the accounting policies included in footnotes to the accompanying historical consolidated financial statements of HCYC included in this proxy statement/prospectus. There will be differences between actual and projected results, and actual results may be materially greater or materially less than those contained in the HCYC Management Projections.

The HCYC Management Projections are the responsibility of HCYC management. Neither HCYC’s independent auditors, nor any other independent accountants have examined, compiled, or otherwise performed procedures with respect to the accompanying prospective financial information presented herein and, accordingly, expresses no opinion or any other form of assurance on such information or its achievability, and assume no responsibility for, and disclaim any association with the prospective financial information.

Reports of Valuation Advisor to AlphaTime

Before reaching its overall decision to approve and declare advisable the Merger Agreement, the AlphaTime Board reviewed the proposed equity value of HCYC and considerations to be paid in connection with the Business Combination. In connection with such review, the AlphaTime Board reviewed a number of analysis, including (a) audited and unaudited historical financial information of HCYC, and (b) draft fairness opinion of Newbridge, AlphaTime’s financial advisor. The details of each such analysis and the engagement and qualifications of AlphaTime’s valuation and financial advisors are set forth below. For details, please see the