Hambrecht Asia Acquisition Corp. is a blank check company formed to identify and complete a business combination with operating businesses primarily located in China. The company raised capital through an initial public offering and private placement, with proceeds held in trust to fund an acquisition of a target business valued between $70 million and $150 million representing at least 80% of trust assets. The company seeks to acquire controlling interests in Chinese enterprises across any industry, intending to finance acquisitions through a combination of IPO proceeds, equity, and debt, while navigating China's foreign exchange regulations, corporate taxation rules, and other regulatory requirements governing foreign-invested enterprises.