$YOUL

Youlife Group Inc.

CIK:0002028177|SEC Filings

Consolidated Statements of Operations and Comprehensive Income ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Income Statement [Abstract]
Revenue	¥ 1,854,302	$ 265,162	¥ 1,585,640	¥ 1,365,865
Cost of revenue	(1,662,236)	(237,697)	(1,356,511)	(1,165,446)
Gross profit	192,066	27,465	229,129	200,419
Operating expenses
Selling and distribution expenses	(79,749)	(11,404)	(51,867)	(91,688)
Administrative expenses	(88,683)	(12,682)	(126,705)	(115,367)
Research and development expenses	(16,869)	(2,412)	(10,017)	(12,285)
Total operating expenses	(185,301)	(26,498)	(188,589)	(219,340)
(Loss)/income from operations	6,765	967	40,540	(18,921)
Other income/(expense)
Fair value gains/(losses)	3,524	504	(21,248)	36,500
Other incomes	50,270	7,188	11,611	2,815
Other expenses	(4,913)	(703)	(422)	(2,220)
Gain/(loss) on dissolution of subsidiaries and branches	4,844	693	(8,820)	29,312
Loss from disposal of equity investment			(59,018)
Financial income/(expenses), net	(10,033)	(1,435)	(3,941)	1,530
Total other income/(expense), net	43,692	6,247	(81,838)	67,937
(LOSS)/PROFIT BEFORE TAX	50,457	7,214	(41,298)	49,016
Income tax (expenses)/benefits	(7,747)	(1,108)	(11,090)	30,256
Net profit/(loss) for the year from continuing operations	42,710	6,106	(52,388)	79,272
Net profit from discontinued operations				17,774
Net loss attribute to non-controlling interests	(372)	(53)	(12)	(2,217)
Net profit/(loss) attribute to ordinary shareholders	¥ 43,082	$ 6,159	¥ (52,376)	¥ 99,263
Net earnings/(loss) per share:
Continuing operations (in Dollars per share and Yuan Renminbi per share) \| (per share)	¥ 0.59	$ 0.08	¥ (0.75)	¥ 1.13
Discontinued operations (in Dollars per share and Yuan Renminbi per share) \| (per share)				0.29
Basic net earnings/(loss) per share (in Dollars per share and Yuan Renminbi per share) \| (per share)	0.59	0.08	(0.75)	1.42
Continuing operations (in Dollars per share and Yuan Renminbi per share) \| (per share)	0.59	0.08	(0.75)	1.13
Discontinued operations (in Dollars per share and Yuan Renminbi per share) \| (per share)				0.29
Diluted net earnings/(loss) per share (in Dollars per share and Yuan Renminbi per share) \| (per share)	¥ 0.59	$ 0.08	¥ (0.75)	¥ 1.42
Shares used in net earnings per share computation
Basic (in Shares)	72,899,967	72,899,967	70,000,000	70,000,000
Diluted (in Shares)	72,899,967	72,899,967	70,000,000	70,000,000
TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE YEAR	¥ 42,710	$ 6,106	¥ (52,388)	¥ 97,046
Comprehensive loss attribute to non-controlling interest	(372)	(53)	(12)	(2,217)
Comprehensive (loss)/income attribute to ordinary shareholders	¥ 43,082	$ 6,159	¥ (52,376)	¥ 99,263

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit/(loss)	¥ 42,710	$ 6,106	¥ (52,388)	¥ 97,046
Net profit from discontinued operations				17,774
Net profit/(loss) from continuing operations	42,710	6,106	(52,388)	79,272
Adjustments for:
Depreciation of items of property and equipment	11,456	1,638	10,070	8,317
Amortization of right-of-use assets	13,310	1,903	14,802	15,296
Amortization of other intangible assets	1,625	232	1,793	3,263
Interest on lease liabilities	4,602	658	2,045	1,835
(Gain)/Loss on dissolution of subsidiaries and branches	(4,844)	(693)	8,820	(29,312)
Gain/(loss) from waive of other payables	(13,005)	(1,858)
Other payables from Distoken	25,185	3,601
Fair value (gains)/losses from financial assets at fair value through profit or loss	(3,524)	(504)	21,248	(36,500)
(Reversal)/provision for credit loss of trade receivables	3,288	470	1,827	(2,371)
Reversal of credit loss of other receivables	(25,665)	(3,670)	(1,637)	(9,590)
Foreign exchange differences, net	(51)	(7)	(24)	(3,783)
Gain on disposal of property and equipment	(28,637)	(4,095)
Shares issued in connection with reverse recapitalization	(14,455)	(2,067)
Loss from disposal of equity investment			59,018
Changes in operating assets and liabilities:
Increase in accounts receivables	(58,211)	(8,324)	(27,216)	(140,792)
(Increase)/Decrease in prepayments, other receivables and other assets	2,477	354	(7,551)	(2,493)
Decrease/(Increase) in inventories	1,618	231	(444)	5,039
(Increase)/Decrease in deferred tax assets, net	4,778	683	7,322	(35,469)
Increase/(Decrease) in contract liabilities	14,648	2,095	(19,290)	36,583
Increase/(Decrease) in accounts payables	3,795	543	(31,952)	64,728
Increase in other payables and accruals	45,776	6,546	29,440	82,363
(Decrease)/Increase in tax payable	7,118	1,018	1,627	(15,077)
Increase in right-of-use assets	(12,379)	(1,770)		(1,091)
Payment in lease liabilities	(9,621)	(1,376)	(11,247)	(9,940)
Net cash flows generated from operating activities from continuing operations	11,994	1,714	6,263	10,278
Net cash flows generated from operating activities from discontinued operations				1,223
Total Net cash flows generated from operating activities	11,994	1,714	6,263	11,501
CASH FLOWS USED IN INVESTING ACTIVITIES
Purchases of items of property and equipment	(27)	(4)	(1,126)	(94,652)
Purchases of items of intangible assets			(116)	(8,675)
Long-term investments	(93,214)	(13,329)
Net cash paid for business acquisitions			(9,634)
Short-term investment				84,230
Net cash flows used in investing activities from continuing operations	(93,241)	(13,333)	(10,876)	(19,097)
Net cash flows used in investing activities from discontinued operations				(3,508)
Total Net cash flows used in investing activities	(93,241)	(13,333)	(10,876)	(22,605)
CASH FLOWS USED IN FINANCING ACTIVITIES
Proceeds from issuance of common stocks-cash	192,312	27,500
Payment for listing expenses	(56,267)	(8,046)	(14,069)	(46,442)
Dividends paid to non-controlling interests			(1,269)
New bank and other borrowings	172,640	24,687	45,061	35,274
Repayment of bank and other borrowings	(93,953)	(13,435)	(25,474)	(9,000)
Repayment of advances from third parties	(115,848)	(16,566)	(58,554)	(96,500)
Net cash flows used in financing activities from continuing operations	98,884	14,140	(54,305)	(116,668)
Net cash flows generated used in financing activities from discontinued operations				(115,170)
Total Net cash flows generated used in financing activities	98,884	14,140	(54,305)	(231,838)
Net (decrease)/increase in cash and cash equivalents from continuing operations	17,637	2,521	(58,918)	(125,487)
Net decrease in cash and cash equivalents from discontinued operations				(117,455)
Effect of foreign exchange rate changes, net	51	8	24	2,931
Cash and cash equivalents at beginning of year from continuing operations	126,531	18,094	185,425	307,981
Cash and cash equivalents at beginning of the year from discontinued operations			3,525	120,980
Less: cash and cash equivalents at beginning of the year from discontinued operations			3,525
Cash and cash equivalents at end of year	144,219	20,623	126,531	188,950
Less: cash and cash equivalents at end of the year from discontinued operations				3,525
Cash and cash equivalents at end of the year from continuing operations	144,219	20,623	126,531	185,425
Supplemental disclosures of cash flow information:
Income taxes paid	2,355	337	5,939	9,467
Interest received	217	31	431	127
Interest expense	¥ 2,602	$ 372	¥ 2,176	¥ 3,171

Consolidated Balance Sheets
¥ in Thousands, $ in Thousands

Dec. 31, 2025

CNY (¥)

Dec. 31, 2025

USD ($)

Dec. 31, 2024

CNY (¥)

Current assets

Cash and cash equivalents

¥ 144,219

$ 20,623

¥ 126,531

Accounts receivables, net

342,783

49,017

287,860

Prepayments and other receivables, net

448,083

64,075

248,494

Inventories, net

2,086

298

3,704

Total current assets

937,171

134,013

666,589

Property and equipment

61,864

8,846

147,303

Right-of-use assets

37,048

5,298

43,156

Intangible assets

8,361

1,196

9,986

Long-term investment

96,738

13,833

Deferred tax assets

23,369

3,342

28,147

Other non-current assets

78,305

11,198

13,182

Total non-current assets

305,685

43,713

241,774

Total assets

1,242,856

177,726

908,363

Current liabilities

Contract liabilities

34,640

4,953

19,991

Trade payables

74,485

10,651

70,690

Other payables and accruals

212,849

30,437

141,888

Short-term borrowings

126,054

18,025

45,893

Lease liabilities

6,793

971

9,401

Tax payable

9,300

1,330

2,182

Total current liabilities

464,121

66,367

290,045

Lease liabilities-non current

25,491

3,645

27,902

Long-term borrowings

1,474

Total non-current liabilities

25,491

3,645

29,376

Total liabilities

489,612

70,012

319,421

Commitments and Contingencies

SHAREHOLDERS’ EQUITY

Ordinary shares (US$0.0001 par value; 500,000,000 shares authorized as at December 31, 2024 and December 31, 2025; 70,000,000 shares and 76,048,501 shares issued and outstanding as at December 31, 2024 and December 31, 2025, respectively)*

^[1]

Treasury shares

(31)

(4)

(31)

Additional paid-in capital

1,303,581

186,410

1,181,993

Statutory surplus reserve

10,531

1,506

9,367

Accumulated losses

(579,876)

(82,921)

(621,794)

Total Youlife Group Inc. shareholders’ equity

734,260

104,999

569,586

Non-controlling interests

18,984

2,715

19,356

Total shareholders’ equity

753,244

107,714

588,942

Total liabilities, mezzanine equity and shareholders’ equity

¥ 1,242,856

$ 177,726

¥ 908,363

[1]

On July 9, 2025, the Company consummated a business combination with Distoken Acquisition Corporation. In connection therewith, the Company amended its memorandum and articles of association to increase the authorized share capital to 500,000,000 ordinary shares, comprising 400,000,000 Class A ordinary shares and 100,000,000 Class B ordinary shares, par value US$0.0001 each. Upon consummation of the Business Combination, all preferred shares were converted into Class A ordinary shares, and the share capital structure has been retroactively adjusted.