Overview
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- TickerYDES on Nasdaq1
- IndustryServices-Medical Laboratories1
- HeadquartersE91
- Incorporated inCayman Islands3
- Business address12F., No. 3, Xingnan St., Nangang Dist., Taipei City, 1150013
- Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
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YD Biopharma acquired all of the issued an outstanding equity interests of Yong Ding.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Drugs brought in 64% of the revenue YD Bio Ltd broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Drugs | $141.9K | $143.6K | $223.4K |
| Beauty Products | $49.9K | ||
| Contact Lenses | $35.0K | ||
| Research And Development Of Sales Of Contact Lenses | $35.0K | ||
| Nutritional Products | $9.5K | $41.8K | $5.2K |
| Supplements | $51.8K | $32.1K | $2.5K |
Regions
TWMember brought in 94% of the revenue YD Bio Ltd broke down this way in fiscal 2025.
Regions by year
| Regions | 2025 |
|---|---|
| TWMember | $561.8K |
| United States | $35.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue21¢$429.4K
- Research and development79¢$1.6M
- Income tax0¢$1.5K
Out of $596.8K in revenue.2 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $596.8K | $510.4K | $350.1K |
| Cost of revenue | -$429.4K | -$355.0K | -$196.7K |
| Gross profit | $167.4K | $155.4K | $153.4K |
| General and administrative expenses | $3.7M | $1.1M | $153.1K |
| Selling and marketing expenses | $170.5K | $2.0K | $7.5K |
| Research and development expenses | $1.6M | $491.4K | |
| Impairment (Recovery) of expected credit loss | $3.4K | -$493 | $2.7K |
| Total operating expenses | $5.4M | $1.6M | $163.3K |
| Loss from operations | -$5.3M | -$1.5M | -$9.8K |
| Other income, net | $46.8K | $64.4K | $29.4K |
| Interest income | $80.2K | $11.8K | $290 |
| Interest expenses | -$772 | -$2.1K | |
| Change in fair value of warrant liabilities | -$3.2M | ||
| Total other income (expense), net | -$3.0M | $75.5K | $27.5K |
| (Loss) Income before income tax | -$8.3M | -$1.4M | $17.6K |
| Income tax | $1.5K | -$25.1K | -$4.1K |
| Net (loss) income | -$8.3M | -$1.4M | $13.6K |
| Change in foreign currency translation adjustments | $168.9K | -$2.1K | $99 |
| Other Comprehensive (loss) income | -$8.1M | -$1.4M | $13.7K |
| Basic net (loss) income per share (in Dollars per share) | -$0.12 | -$0.02 | $0.00 |
| Diluted net (loss) income per share (in Dollars per share) | -$0.12 | -$0.02 | $0.00 |
| Basic weighted average number of shares outstanding (in Shares) | 66.7M shares | 64.7M shares | 64.7M shares |
| Diluted weighted average number of shares outstanding (in Shares) | 66.7M shares | 64.7M shares | 64.7M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $6.0M | $3.1M | ||
| Accounts receivable, net | $167.5K | $86.6K | ||
| Other receivables from an affiliate, net | $291.5K | $16.9K | ||
| Inventories | $1.9M | $37.3K | ||
| Prepaid expenses and other current assets | $1.3M | $194.7K | ||
| TOTAL CURRENT ASSETS | $9.7M | $3.5M | ||
| Operating lease right-of-use assets, net | $8.5K | $23.7K | ||
| Property, plant and equipment, net | $59.3K | $64.4K | ||
| Intangible assets | $2.6M | $2.7M | ||
| Deferred offering costs | $628.2K | |||
| Prepaid expenses, non-current | $1.4M | |||
| TOTAL ASSETS | $13.8M | $6.9M | ||
| Operating lease liabilities, current | $6.8K | $16.6K | ||
| Accounts payable | $413.3K | $26.9K | ||
| Accrued expenses and other liabilities | $437.9K | $182.4K | ||
| TOTAL CURRENT LIABILITIES | $1.6M | $263.1K | ||
| Deferred tax liabilities | $1.5K | |||
| Operating lease liabilities, non-current | $5.7K | |||
| Accrued expenses and other liabilities, non-current | $3.8K | |||
| Warrant Liabilities | $15.0M | |||
| TOTAL LIABILITIES | $16.6M | $274.0K | ||
| Common shares ($0.0001 par value, 500,000,000 shares authorized; 70,789,261 and 64,730,411 issued and outstanding as of December 31, 2025 and 2024, respectively) | $7.1K | $6.5K | ||
| Additional paid-in capital | $7.2M | $8.5M | ||
| Accumulated deficits | -$10.2M | -$1.9M | ||
| Accumulated other comprehensive income | $213.9K | $45.1K | ||
| Total shareholders equity (deficit) | -$2.9M | $6.6M | $23.0K | $9.3K |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY (DEFICIT) | $13.8M | $6.9M | ||
| Common shares, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Common shares, shares authorized (in Shares) | 500.0M shares | 500.0M shares | ||
| Common shares, shares issued (in Shares) | 70.8M shares | 64.7M shares | ||
| Common shares, shares outstanding (in Shares) | 70.8M shares | 64.7M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $6.0M | $3.1M | ||
| Accounts receivable, net | $167.5K | $86.6K | ||
| Other receivables from an affiliate, net | $291.5K | $16.9K | ||
| Inventories | $1.9M | $37.3K | ||
| Prepaid expenses and other current assets | $1.3M | $194.7K | ||
| TOTAL CURRENT ASSETS | $9.7M | $3.5M | ||
| Operating lease right-of-use assets, net | $8.5K | $23.7K | ||
| Property, plant and equipment, net | $59.3K | $64.4K | ||
| Intangible assets | $2.6M | $2.7M | ||
| Deferred offering costs | $628.2K | |||
| Prepaid expenses, non-current | $1.4M | |||
| TOTAL ASSETS | $13.8M | $6.9M | ||
| Operating lease liabilities, current | $6.8K | $16.6K | ||
| Accounts payable | $413.3K | $26.9K | ||
| Accrued expenses and other liabilities | $437.9K | $182.4K | ||
| TOTAL CURRENT LIABILITIES | $1.6M | $263.1K | ||
| Deferred tax liabilities | $1.5K | |||
| Operating lease liabilities, non-current | $5.7K | |||
| Accrued expenses and other liabilities, non-current | $3.8K | |||
| Warrant Liabilities | $15.0M | |||
| TOTAL LIABILITIES | $16.6M | $274.0K | ||
| Common shares ($0.0001 par value, 500,000,000 shares authorized; 70,789,261 and 64,730,411 issued and outstanding as of December 31, 2025 and 2024, respectively) | $7.1K | $6.5K | ||
| Additional paid-in capital | $7.2M | $8.5M | ||
| Accumulated deficits | -$10.2M | -$1.9M | ||
| Accumulated other comprehensive income | $213.9K | $45.1K | ||
| Total shareholders equity (deficit) | -$2.9M | $6.6M | $23.0K | $9.3K |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY (DEFICIT) | $13.8M | $6.9M | ||
| Common shares, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Common shares, shares authorized (in Shares) | 500.0M shares | 500.0M shares | ||
| Common shares, shares issued (in Shares) | 70.8M shares | 64.7M shares | ||
| Common shares, shares outstanding (in Shares) | 70.8M shares | 64.7M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) Income | -$8.3M | -$1.4M | $13.6K |
| Deferred tax liability | -$1.5K | $26.6K | $4.1K |
| Depreciation expenses | $16.2K | $10.2K | $2.5K |
| Amortization | $193.3K | $94.5K | |
| Impairment (recovery) of expected credit loss | $3.4K | -$493 | $2.7K |
| Loss on disposal of property and equipment | $109 | $466 | |
| Lease expenses | $20.5K | $11.7K | $47.7K |
| Change in fair value of warrant liabilities | $3.2M | ||
| Accounts receivable | -$84.3K | $6.3K | -$63.9K |
| Other receivables from an affiliate | -$274.6K | -$17.3K | |
| Inventories | -$1.8M | $28.5K | -$30.6K |
| Prepaid expense and other current assets | -$850.3K | -$182.7K | $4.8K |
| Accounts and note payable | $386.4K | $10.2K | $5.4K |
| Accrued expense and other liabilities | $251.7K | $175.7K | $4.6K |
| Amounts due to affiliates | $748.4K | $37.9K | |
| Operating lease liabilities | -$20.7K | -$12.2K | -$47.1K |
| Net cash used in operating activities | -$6.6M | -$1.2M | -$55.7K |
| Acquisition of property, plant and equipment | -$1.4M | -$74.9K | -$290 |
| Acquisition of intangible assets | -$2.8M | ||
| Proceed from disposal for long-term investment | $10.3K | ||
| Net cash used in investing activities | -$1.4M | -$2.9M | -$290 |
| Proceeds from exercise of warrants | $715.6K | ||
| Issuance of common shares | $13.2M | $7.5M | |
| Proceeds from shareholders | $314.4K | $53.0K | |
| Proceeds from (repayment to) an affiliate | -$99.6K | $93.5K | |
| Repayment of long-term bank loans | -$33.0K | -$32.6K | |
| Payment of offering cost related to business combination | -$3.2M | -$614.1K | |
| Proceeds from the Business Combination | $173.5K | ||
| Net cash provided by financing activities | $10.9M | $7.1M | $113.9K |
| Effect of change in exchange rate | $42.9K | $55.0K | -$984 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | $2.9M | $3.0M | $57.0K |
| Interest paid | $772 | $2.1K | |
| Warrant liabilities assumed in the business combination | $13.7M | ||
| Reclassification of deferred offering costs to additional paid-in capital upon business combination | $628.2K | ||
| Lease liabilities arising from obtaining right-of-use assets | $22.3K | $4.2K | |
| Deduction of right-of-use assets from cancellation of operating leases | $8.6K | ||
| Change in additional paid-in capital due to group structuring | $7.9M |
No quarter-by-quarter statement was filed.
Corporate structure
YD Bio Ltd sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of YD Bio Ltd
- Ethan Shen Phd. Filed SCHEDULE 13G/A on YD Bio Ltd, latest Feb 17, 2026 (2 filings since Dec 16, 2025)
- YD Bio Ltd E9
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What YD Bio Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $87.9K2 Dec 31, 2025 | $81.8K2 Dec 31, 2024 | +7.5% |
| Accumulated depreciation | $28.6K2 Dec 31, 2025 | $17.4K2 Dec 31, 2024 | +63.9% |
| Property and equipment, net | $59.3K2 Dec 31, 2025 | $64.4K2 Dec 31, 2024 | −7.8% |
| Operating-lease assets (leased space) | $8.5K2 Dec 31, 2025 | $23.7K2 Dec 31, 2024 | −64.3% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $2.6M2 Dec 31, 2025 | $2.7M2 Dec 31, 2024 | −2.6% |
| Accumulated amortization | $290.0K2 Dec 31, 2025 | $92.4K2 Dec 31, 2024 | +213.8% |
| Finite-lived intangibles, net | $2.6M2 Dec 31, 2025 |
Inventory
Leadership
Who has led YD Bio Ltd, and when. Pick a name to see everywhere that person has worked.
- Chief executive officerEthan Shen Phd. Mar 18, 2026 to now5
- Chief financial officerMan Edmund Hen Mar 26, 2026 to now6
Board members and other officers (5)
- Chief Medical OfficerBo-Xiang Zhang Mar 27, 2026 to now7
- Board memberEthan Shen Phd. Mar 18, 2026 to now5
- Board memberBo-Xiang Zhang Mar 27, 2026 to now7
- Board memberJerry Yin-Chia Lee Mar 30, 2026 to now8
- Board memberKochi Chang Apr 2, 2026 to now9
Former names
- True Velocity, Inc./DEFeb 14, 2024 to Jun 21, 20243
Timeline
- Mar 18, 2026New chief executive Ethan Shen Phd. becomes CEO5
Filings
80 filings to the SEC since October 2021: 1 annual reports, 16 insider forms, 2 large holders, 61 other. The latest 20:
- Oct 6, 20264 EDGAR
- Oct 6, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 10, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 8, 20264 EDGAR
- Sep 1, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
- Sep 1, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 11, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
- Aug 11, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jul 1, 20264 EDGAR
- Jul 1, 20264 EDGAR
- May 29, 2026EFFECT EDGAR
- May 26, 2026POS AM POST-EFFECTIVE AMENDMENT NO. 1 TO FORM F-1 EDGAR
- May 1, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Apr 30, 202620-F ANNUAL REPORT EDGAR
- Apr 20, 20263/A EDGAR
- Apr 2, 20264 EDGAR
- Apr 2, 20264 EDGAR
- Apr 2, 20263 EDGAR
- Apr 2, 20263 EDGAR
The 80 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
3 open-market trades by officers, directors and large owners since October 2021: 3 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 14, 2026 | Shen Ethan PhDCEO | Buy | 12,700 | $3.85 | $48.9K | Form 4 |
| Sep 9, 2026 | Shen Ethan PhDCEO | Buy | 3,100 | $3.93 | $12.2K | Form 4 |
| Sep 4, 2026 | Shen Ethan PhDCEO | Buy | 18,378 | $3.67 | $67.4K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Ethan Shen Phd.SCHEDULE 13G/A, 2 filings Dec 16, 2025 to Feb 17, 202610
SEC filer profile
How YD Bio Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARYD Bio Ltd1
- CIK0002011674
- Filer statusNon-accelerated filer an emerging growth company; not a shell company4
- Incorporated inCayman Islands4
- Fiscal year endsDecember 311
- Industry code (SIC)8071 Services-Medical Laboratories1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address12F., No. 3, Xingnan St., Nangang Dist., Taipei City, 115001, Taiwan1
- Phone619-500-77471
- Shares outstanding70,789,261 shares as of Dec 31, 20254
- AuditorMaloneBailey, LLP, Houston, Texas PCAOB ID 206; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceFeb 14, 20241
- Filings80 in all: 6-K (14), F-4/A (10), 4 (9), CORRESP (8), UPLOAD (8), 3 (6), 424B3 (6), 425 (3)1
All 23 form types
EFFECT (2), 20-F (1), 20FR12B (1), 3/A (1), 8-A12B (1), CERT (1), F-1 (1), F-1/A (1), F-4 (1), POS AM (1), S-4 (1), S-8 (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1), SEC STAFF ACTION (1)
- Latest filingsAnnual report (20-F) Apr 30, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary shares, par value $0.0001 per share | YDES | Nasdaq |
| Warrants, each exercisable to purchase one ordinary share at an exercise price of $11.50 per share | YDESW | Nasdaq |
From the cover page of the 20-F filed Apr 30, 2026 (Section 12(b) of the Exchange Act).4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARYD Bio Ltd filings on SEC EDGAR
- 2SEC EDGARYD Bio Ltd 10-K for fiscal 2025
- 3SEC EDGARYD Bio Ltd filings on SEC EDGAR
- 4
- 5
- 6
- 7
- 8SEC EDGARJerry Yin-Chia Lee, Board member
- 9SEC EDGARKochi Chang, Board member
- 10