Why did Spark I Acquisition's net profit surge in Q1 2024 despite rising expenses?

Spark I Acquisition's net profit surge in Q1 2024 can be attributed to **Interest Income on Investments**: 1. **Interest Income on Investments**: Spark I Acquisition's net income was significantly boosted by the interest earned on investments held in the trust account, amounting to $5.25 million for the year ended December 31, 2024. This interest income is a key component of the company's net income, and its inclusion contributed to the overall net income of $770,378 in Q1 2024. 2. **Strategic Initiatives**: The company's strategic initiatives, such as the potential merger with Kneron Holding Corporation, have likely contributed to its financial performance. The announcement of this merger has led to a surge in stock price and market optimism, which can indirectly impact net income through changes in market valuation and investor sentiment. In conclusion, Spark I Acquisition's net profit surge in Q1 2024 can be attributed to a combination of interest income on investments and strategic initiatives. These factors, either directly or indirectly, have contributed to the company's financial performance during the quarter. |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |SPKL|SPKL.O|Spark I Acquisition|2023 Q2|-29.008155932341577|-443054|185| |SPKL|SPKL.O|Spark I Acquisition|2023 Q3|-61.681501177981666|-448131|185| |SPKL|SPKL.O|Spark I Acquisition|2023 Q4|216.59017137668823|513638|185| |SPKL|SPKL.O|Spark I Acquisition|2024 Q1|318.01752340415896|770378|185|