"No init found" kernel panic after rebooting NAND install

I recently rebooted my Cubietruck after a longer time because the WiFi daemon didn't work properly anymore. After the reboot, however, the system didn't boot from NAND anymore.

I attached a serial console and got the following kernel panic (the full serial log is attached):

<0>Kernel panic - not syncing: No init found.  Try passing init= option to kernel. See Linux Documentation/init.txt for guidance.
[   12.867986] Kernel panic - not syncing: No init found.  Try passing init= option to kernel. See Linux Documentation/init.txt for guidance.
[<c001538c>] (unwind_backtrace+0x0/0x12c) from [<c0714d54>] (panic+0x9c/0x1cc)
[   12.887857] [<c001538c>] (unwind_backtrace+0x0/0x12c) from [<c0714d54>] (panic+0x9c/0x1cc)
[<c0714d54>] (panic+0x9c/0x1cc) from [<c0714964>] (init_post+0x11c/0x120)
[   12.902919] [<c0714d54>] (panic+0x9c/0x1cc) from [<c0714964>] (init_post+0x11c/0x120)
[<c0714964>] (init_post+0x11c/0x120) from [<c09daa90>] (kernel_init+0x210/0x214)
[   12.918137] [<c0714964>] (init_post+0x11c/0x120) from [<c09daa90>] (kernel_init+0x210/0x214)
<2>CPU0: stopping
[   12.928515] CPU0: stopping
[<c001538c>] (unwind_backtrace+0x0/0x12c) from [<c0013eb0>] (handle_IPI+0x1b4/0x1c8)
[   12.938809] [<c001538c>] (unwind_backtrace+0x0/0x12c) from [<c0013eb0>] (handle_IPI+0x1b4/0x1c8)
[<c0013eb0>] (handle_IPI+0x1b4/0x1c8) from [<c0008508>] (gic_handle_irq+0x54/0x58)
[   12.955179] [<c0013eb0>] (handle_IPI+0x1b4/0x1c8) from [<c0008508>] (gic_handle_irq+0x54/0x58)
[<c0008508>] (gic_handle_irq+0x54/0x58) from [<c000e800>] (__irq_svc+0x40/0x74)
[   12.971107] [<c0008508>] (gic_handle_irq+0x54/0x58) from [<c000e800>] (__irq_svc+0x40/0x74)
Exception stack(0xc0a13e30 to 0xc0a13e78)
[   12.983466] Exception stack(0xc0a13e30 to 0xc0a13e78)
3e20:                                     000abde6 ffffffff 00001b76 00000000
[   12.995546] 3e20:                                     000abde6 ffffffff 00001b76 00000000
3e40: 00000003 00000003 c0958aa0 066665b0 c0a730b8 eea00340 00200200 c0a82261
[   13.010847] 3e40: 00000003 00000003 c0958aa0 066665b0 c0a730b8 eea00340 00200200 c0a82261
3e60: 00000004 c0a13e78 c05a032c c03f4400 20000113 ffffffff
[   13.024586] 3e60: 00000004 c0a13e78 c05a032c c03f4400 20000113 ffffffff
[<c000e800>] (__irq_svc+0x40/0x74) from [<c03f4400>] (__delay+0x0/0xc)
[   13.037677] [<c000e800>] (__irq_svc+0x40/0x74) from [<c03f4400>] (__delay+0x0/0xc)

Unfortunately, I don't know whether a recent kernel update is the cause, as I didn't reboot the system for a prolonged time. I'm using the legacy kernel 3.4.113-sun7i. Recreating the kernel image using mkimage didn't help. What could I do now?

serial.log