Intelligent Hotel Group Posts $181K Loss, Exits All Prior Businesses

TL;DR

**ZHJD is a zombie company with zero revenue, a massive deficit, and no clear path forward; avoid at all costs.**

AI Summary

Intelligent Hotel Group Ltd. (ZHJD) reported a significant net loss of $181,553 for the nine months ended September 30, 2025, a sharp decline from a net income of $45,622 in the same period of 2024. Revenue remained at $0 for both periods, indicating a complete cessation of previous business operations. The company's total assets plummeted from $136,279 as of December 31, 2024, to just $919 as of September 30, 2025, primarily due to the disposal of discontinued operations. Total liabilities also decreased substantially from $418,050 to $11,749, largely due to related party loan forgiveness totaling $450,580. A key business change was the name change from YCQH Agricultural Technology Co., Ltd. to Intelligent Hotel Group Ltd. on May 6, 2025, and the complete cessation of its bio-carbon-based fertilizer, online retailing, and beauty products trading businesses. The company is actively evaluating potential acquisition targets in the hotel sector, but currently has no operational revenue. The accumulated deficit widened significantly to $620,826 as of September 30, 2025, from $439,273 at December 31, 2024, highlighting ongoing financial challenges and a negative stockholders' deficit of $10,830.

Why It Matters

This filing reveals Intelligent Hotel Group (ZHJD) is a shell company with no current operations or revenue, having disposed of all its previous business segments. For investors, this means ZHJD is a highly speculative investment, essentially a blank check company seeking a new direction, likely in the hotel sector as its new name suggests. Employees of the former businesses are no longer with the company, and customers have no ongoing relationship. The broader market impact is minimal given the company's size and lack of current operations, but it highlights the risks associated with micro-cap companies undergoing significant strategic shifts. Competitively, ZHJD is not currently a player in any market.

Risk Assessment

Risk Level: high — The company reported $0 revenue for the nine months ended September 30, 2025, and a net loss of $181,553. Total assets are only $919, and it has a stockholders' deficit of $10,830. The company has ceased all prior operations and is actively evaluating potential acquisition targets, indicating extreme operational uncertainty and a lack of current business.

Analyst Insight

Investors should exercise extreme caution and avoid ZHJD shares until the company successfully acquires a new operating business, demonstrates a clear revenue model, and improves its financial position. This is currently a highly speculative investment with no fundamental basis.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

$919

total Debt

$11,749

net Income

-$181,553

eps

N/A

gross Margin

N/A

cash Position

$919

revenue Growth

N/A

Revenue Breakdown

Key Numbers

• $181,553 — Net Loss (for the nine months ended September 30, 2025, compared to a $45,622 net income in 2024.)
• $0 — Revenue (for the nine months ended September 30, 2025, indicating no ongoing operations.)
• $919 — Total Current Assets (as of September 30, 2025, a significant decrease from $136,279 at December 31, 2024.)
• $10,830 — Total Stockholders' Deficit (as of September 30, 2025, indicating negative equity.)
• $450,580 — Loans Forgiveness (by related party, significantly reducing total liabilities.)
• 101,400,000 — Common Shares Outstanding (as of October 23, 2025, unchanged from December 31, 2024.)
• $620,826 — Accumulated Deficit (as of September 30, 2025, widening from $439,273 at December 31, 2024.)

Key Players & Entities

• Intelligent Hotel Group Ltd. (company) — registrant issuer
• YCQH Agricultural Technology Co., Ltd. (company) — former name of registrant
• Chenjiang Zhang (person) — independent third party who acquired SCQC
• Ms. Wang Min (person) — former largest shareholder, director, and CEO
• Ms. Yin Yixuan (person) — current Director and Chief Executive Officer
• SCQC Agriculture Co. Limited (company) — disposed subsidiary
• YCWB Agricultural Technology Co. Limited (company) — subsidiary that operated prior businesses
• $181,553 (dollar_amount) — net loss for nine months ended September 30, 2025
• $0 (dollar_amount) — revenue for nine months ended September 30, 2025
• $450,580 (dollar_amount) — loans forgiveness by related party

FAQ

Risk Factors

• Negative Stockholders' Equity [high — financial]: The company has a total stockholders' deficit of $10,830 as of September 30, 2025. This negative equity position, coupled with a widening accumulated deficit of $620,826, indicates significant financial distress and a lack of retained earnings.
• Lack of Revenue and Operational Activity [high — operational]: Revenue has been $0 for the nine months ended September 30, 2025, and the comparable period in 2024. The company has ceased all previous business operations and is currently evaluating potential acquisition targets without any current revenue streams.
• Significant Asset and Liability Reduction [medium — financial]: Total assets decreased from $136,279 as of December 31, 2024, to $919 as of September 30, 2025, primarily due to the disposal of discontinued operations. Total liabilities decreased from $418,050 to $11,749, largely due to $450,580 in related party loan forgiveness.
• Dependence on Future Acquisitions [high — operational]: The company's future viability is entirely dependent on its ability to identify and successfully acquire new businesses in the hotel sector. There is no guarantee that suitable acquisition targets will be found or that such acquisitions will be successful.

Industry Context

Intelligent Hotel Group Ltd. is attempting to pivot into the hotel sector, a highly competitive industry characterized by established players and cyclical demand. The company currently has no operational revenue, placing it at a significant disadvantage against existing hotel operators. Its success will depend entirely on its ability to execute strategic acquisitions in a potentially challenging market.

Regulatory Implications

As a company with no current revenue and a negative equity position, Intelligent Hotel Group Ltd. may face increased scrutiny from regulatory bodies regarding its financial stability and future prospects. Compliance with listing requirements and disclosure obligations will be critical as it seeks new business opportunities.

What Investors Should Do

1. Monitor Acquisition Progress
2. Assess Management's Strategic Execution
3. Review Future Filings for Operational Updates

Key Dates

• 2025-05-06: Company Name Change — Changed from YCQH Agricultural Technology Co., Ltd. to Intelligent Hotel Group Ltd., signaling a strategic shift away from previous businesses.
• 2025-09-30: End of Nine-Month Period — Reporting period for the 10-Q, showing a significant net loss and drastic reduction in assets and liabilities.

Glossary

Accumulated Deficit

The cumulative net losses of a company that have not been offset by net income. It represents a negative retained earnings balance. (The accumulated deficit widened to $620,826, indicating a history of unprofitability and ongoing financial challenges.)

Stockholders' Deficit

Occurs when a company's total liabilities exceed its total assets, resulting in negative equity for shareholders. (The company has a stockholders' deficit of $10,830, meaning its liabilities outweigh its assets, indicating insolvency from an equity perspective.)

Discontinued Operations

A component of a business that the reporting entity has disposed of or classified as held for sale, and that represents a separate major line of business or geographical area of operations. (The significant decrease in assets is attributed to the disposal of discontinued operations, which no longer contribute to the company's financial performance.)

Related Party Loan Forgiveness

When a loan provided by an individual or entity that has a close relationship with the borrower is canceled or waived. (The forgiveness of $450,580 in related party loans significantly reduced the company's liabilities, impacting its balance sheet structure.)

Year-Over-Year Comparison

Compared to the prior period (presumably ending September 30, 2024), Intelligent Hotel Group Ltd. has transitioned from a net income of $45,622 to a net loss of $181,553. Revenue remains at $0, highlighting the complete cessation of previous operations. Assets and liabilities have drastically reduced due to asset disposals and loan forgiveness, respectively. The company's financial position has deteriorated significantly, with a widening accumulated deficit and a newly formed stockholders' deficit.

Key Financial Figures

• $ — cy is not the US$ are translated into US$, in accordance with ASC Topic 830-30, "
• $1 — September 30, 2024 Period-end HK$ : US$1 exchange rate 7.78 7.77 Period-end

Filing Documents

• form10-q.htm (10-Q) — 660KB
• ex31-1.htm (EX-31.1) — 16KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-25-019028.txt ( ) — 3453KB
• ycqh-20250930.xsd (EX-101.SCH) — 25KB
• ycqh-20250930_cal.xml (EX-101.CAL) — 37KB
• ycqh-20250930_def.xml (EX-101.DEF) — 86KB
• ycqh-20250930_lab.xml (EX-101.LAB) — 267KB
• ycqh-20250930_pre.xml (EX-101.PRE) — 196KB
• form10-q_htm.xml (XML) — 416KB

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 3 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 9 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 9 PART II OTHER INFORMATION 11 ITEM 1

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 11 ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 11 ITEM 3 DEFAULTS UPON SENIOR SECURITIES 11 ITEM 4 MINE SAFETY DISCLOSURES 11 ITEM 5 OTHER INFORMATION 11 ITEM 6 EXHIBITS 12

SIGNATURES

SIGNATURES 13 2 PART I — FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS INTELLIGENT HOTEL GROUP LTD (FORMALLY KNOWN AS YCQH AGRICULTURAL TECHNOLOGY CO. LTD) CONDENSED CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2025 AND DECEMBER 31, 2024 (Currency expressed in United States Dollars ("US

View Full Filing

View this 10-Q filing on SEC EDGAR