0002011674 2025-01-01 2025-12-31 0002011674 2025-12-31 0002011674 2024-12-31 0002011674 srt:AffiliatedEntityMember 2025-12-31 0002011674 srt:AffiliatedEntityMember 2024-12-31 0002011674 2024-01-01 2024-12-31 0002011674 2023-01-01 2023-12-31 0002011674 srt:ScenarioPreviouslyReportedMember us-gaap:CommonStockMember 2022-12-31 0002011674 srt:ScenarioPreviouslyReportedMember us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0002011674 srt:ScenarioPreviouslyReportedMember us-gaap:RetainedEarningsMember 2022-12-31 0002011674 srt:ScenarioPreviouslyReportedMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0002011674 srt:ScenarioPreviouslyReportedMember 2022-12-31 0002011674 srt:RestatementAdjustmentMember us-gaap:CommonStockMember 2022-12-31 0002011674 srt:RestatementAdjustmentMember us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0002011674 srt:RestatementAdjustmentMember us-gaap:RetainedEarningsMember 2022-12-31 0002011674 srt:RestatementAdjustmentMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0002011674 srt:RestatementAdjustmentMember 2022-12-31 0002011674 us-gaap:CommonStockMember 2022-12-31 0002011674 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0002011674 us-gaap:RetainedEarningsMember 2022-12-31 0002011674 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0002011674 2022-12-31 0002011674 us-gaap:CommonStockMember 2023-01-01 2023-12-31 0002011674 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-12-31 0002011674 us-gaap:RetainedEarningsMember 2023-01-01 2023-12-31 0002011674 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-12-31 0002011674 us-gaap:CommonStockMember 2023-12-31 0002011674 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0002011674 us-gaap:RetainedEarningsMember 2023-12-31 0002011674 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0002011674 2023-12-31 0002011674 us-gaap:CommonStockMember 2024-01-01 2024-12-31 0002011674 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-12-31 0002011674 us-gaap:RetainedEarningsMember 2024-01-01 2024-12-31 0002011674 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-12-31 0002011674 us-gaap:CommonStockMember 2024-12-31 0002011674 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0002011674 us-gaap:RetainedEarningsMember 2024-12-31 0002011674 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0002011674 us-gaap:CommonStockMember 2025-01-01 2025-12-31 0002011674 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-12-31 0002011674 us-gaap:RetainedEarningsMember 2025-01-01 2025-12-31 0002011674 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-01-01 2025-12-31 0002011674 us-gaap:CommonStockMember 2025-12-31 0002011674 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0002011674 us-gaap:RetainedEarningsMember 2025-12-31 0002011674 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-12-31 0002011674 ydesw:YDBiopharmaMember 2025-08-28 0002011674 ydesw:YDBiopharmaMember 2025-08-28 2025-08-28 0002011674 ydesw:YDBiopharmaMember us-gaap:CommonStockMember 2025-08-28 2025-08-28 0002011674 ydesw:PrivateInvestmentInPublicEquityFinancingMember 2025-08-28 2025-08-28 0002011674 ydesw:PrivateInvestmentInPublicEquityFinancingMember 2025-08-28 0002011674 ydesw:YDBiopharmaMember us-gaap:WarrantMember 2025-08-28 0002011674 us-gaap:CommonStockMember 2025-08-28 0002011674 us-gaap:WarrantMember 2025-08-28 0002011674 ydesw:YDBiopharmaLimitedYDBiopharmaMember 2025-01-01 2025-12-31 0002011674 ydesw:YongDingBiopharmCoLtdYongDingMember 2025-01-01 2025-12-31 0002011674 ydesw:YDBIOUSAINCYDUSAMember 2025-01-01 2025-12-31 0002011674 ydesw:YDPharmaWingsLimitedYDPharmaWingsMember 2025-01-01 2025-12-31 0002011674 ydesw:BreezeHoldingsAcquisitionCorpBreezeMember 2025-01-01 2025-12-31 0002011674 srt:MinimumMember us-gaap:EquipmentMember 2025-12-31 0002011674 srt:MinimumMember us-gaap:FurnitureAndFixturesMember 2025-12-31 0002011674 srt:MaximumMember us-gaap:EquipmentMember 2025-12-31 0002011674 srt:MaximumMember us-gaap:FurnitureAndFixturesMember 2025-12-31 0002011674 ydesw:PublicWarrantsMember 2025-12-31 0002011674 ydesw:PrivatePlacementWarrantsMember 2025-12-31 0002011674 us-gaap:WarrantMember 2024-12-31 0002011674 us-gaap:WarrantMember 2023-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierDMember 2025-01-01 2025-12-31 0002011674 srt:ChiefExecutiveOfficerMember ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember 2025-01-01 2025-12-31 0002011674 ydesw:ThreeDGlobalPatentMember 2025-12-31 0002011674 ydesw:EGBioMedPatentMember 2025-12-31 0002011674 ydesw:PeriodendNTDUSDollarOneExchangeRateMember 2025-12-31 0002011674 ydesw:PeriodendNTDUSDollarOneExchangeRateMember 2024-12-31 0002011674 ydesw:PeriodendNTDUSDollarOneExchangeRateMember 2023-12-31 0002011674 ydesw:PeriodAverageNTDUSDollarOneExchangeRateMember 2025-12-31 0002011674 ydesw:PeriodAverageNTDUSDollarOneExchangeRateMember 2024-12-31 0002011674 ydesw:PeriodAverageNTDUSDollarOneExchangeRateMember 2023-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierDMember 2024-01-01 2024-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierDMember 2023-01-01 2023-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierAMember 2025-01-01 2025-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierAMember 2024-01-01 2024-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierAMember 2023-01-01 2023-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierEMember 2025-01-01 2025-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierEMember 2024-01-01 2024-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierEMember 2023-01-01 2023-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierFMember 2025-01-01 2025-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierFMember 2024-01-01 2024-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierFMember 2023-01-01 2023-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierGMember 2025-01-01 2025-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierGMember 2024-01-01 2024-12-31 0002011674 ydesw:PurchaseMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierGMember 2023-01-01 2023-12-31 0002011674 ydesw:AccountPayableMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierDMember 2025-01-01 2025-12-31 0002011674 ydesw:AccountPayableMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierDMember 2024-01-01 2024-12-31 0002011674 ydesw:AccountPayableMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierBMember 2025-01-01 2025-12-31 0002011674 ydesw:AccountPayableMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierBMember 2024-01-01 2024-12-31 0002011674 ydesw:AccountPayableMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierAMember 2025-01-01 2025-12-31 0002011674 ydesw:AccountPayableMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierAMember 2024-01-01 2024-12-31 0002011674 ydesw:AccountPayableMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierCMember 2025-01-01 2025-12-31 0002011674 ydesw:AccountPayableMember us-gaap:SupplierConcentrationRiskMember ydesw:SupplierCMember 2024-01-01 2024-12-31 0002011674 ydesw:CustomerAMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-12-31 0002011674 ydesw:CustomerAMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0002011674 ydesw:CustomerAMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-12-31 0002011674 ydesw:CustomerBMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-12-31 0002011674 ydesw:CustomerBMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0002011674 ydesw:CustomerBMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-12-31 0002011674 ydesw:CustomerCMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-12-31 0002011674 ydesw:CustomerCMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0002011674 ydesw:CustomerCMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2023-01-01 2023-12-31 0002011674 ydesw:CustomerBMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-12-31 0002011674 ydesw:CustomerBMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0002011674 ydesw:CustomerDMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-12-31 0002011674 ydesw:CustomerDMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0002011674 ydesw:CustomerAMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-12-31 0002011674 ydesw:CustomerAMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0002011674 ydesw:CustomerEMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-12-31 0002011674 ydesw:CustomerEMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2024-01-01 2024-12-31 0002011674 ydesw:ThreeDGlobalBiotechIncMember ydesw:CommonShareMember 2024-06-19 0002011674 ydesw:ThreeDGlobalPatentMember 2024-06-19 2024-06-19 0002011674 2024-06-19 2024-06-19 0002011674 ydesw:ThreeDGlobalPatentMember 2024-06-19 0002011674 2024-06-19 0002011674 ydesw:ThreeDGlobalPatentMember 2024-06-30 0002011674 ydesw:ThreeDGlobalPatentMember 2025-01-01 2025-12-31 0002011674 ydesw:EGBioMedCoLtdMember srt:DirectorMember 2024-06-25 0002011674 2024-06-25 0002011674 2024-06-25 2024-06-25 0002011674 ydesw:EGBioMedPatentMember 2024-06-25 0002011674 srt:MinimumMember 2025-01-01 2025-12-31 0002011674 srt:MaximumMember 2025-01-01 2025-12-31 0002011674 ydesw:DevelopmentOfCornealLimbalStemCellLSCCellSourceMember ydesw:ApplicationWithMedicalCenterForClinicalSpecimensCollectionMember 2025-01-01 2025-12-31 0002011674 ydesw:DevelopmentOfCornealLimbalStemCellLSCCellSourceMember ydesw:SOPDocumentForTechniqueOfSeparatingLSCSpecimensMember 2025-01-01 2025-12-31 0002011674 ydesw:DevelopmentOfCornealLimbalStemCellLSCCellSourceMember ydesw:LSCCellAnalysisAssessmentReportMember 2025-01-01 2025-12-31 0002011674 ydesw:EstablishmentOfLSCMasterCellBanksMember ydesw:SOPDocumentForLSCAmplificationMember 2025-01-01 2025-12-31 0002011674 ydesw:EstablishmentOfLSCMasterCellBanksMember ydesw:SOPDocumentForLSCCryopreservationMember 2025-01-01 2025-12-31 0002011674 ydesw:CellStabilityExaminationOfLSCMember ydesw:StabilityExaminationReportOfMasterCellMember 2025-01-01 2025-12-31 0002011674 ydesw:CellStabilityExaminationOfLSCMember ydesw:StabilityExaminationReportOfWorkingCellMember 2025-01-01 2025-12-31 0002011674 ydesw:RawMaterialDevelopmentOfLSCExosomesMember ydesw:SOPDocumentOfExosomesPurificationProcessMember 2025-01-01 2025-12-31 0002011674 ydesw:RawMaterialDevelopmentOfLSCExosomesMember ydesw:SpecificationAnalysisExaminationReportOfExosomesCharacterizationMember 2025-01-01 2025-12-31 0002011674 ydesw:RawMaterialDevelopmentOfLSCExosomesMember ydesw:SOPDocumentOfMassProductionProcessOfExosomesRawMaterialMember 2025-01-01 2025-12-31 0002011674 ydesw:RawMaterialDevelopmentOfLSCExosomesMember ydesw:ThreeBatchesOfTrialProductionDocumentOfExosomesRawMaterialMember 2025-01-01 2025-12-31 0002011674 ydesw:RawMaterialDevelopmentOfLSCExosomesMember ydesw:SafetyVerificationReportanimalTestingOfExosomesRawMaterialMember 2025-01-01 2025-12-31 0002011674 ydesw:LensMateEyeBufferLensMateMember ydesw:ProductConsignmentDevelopmentAgreementMember 2025-01-01 2025-12-31 0002011674 ydesw:LensMateEyeBufferLensMateMember ydesw:USFoodAndDrugAdministrationFDAApprovalForTypeIMedicalMaterialCertificationMember 2025-01-01 2025-12-31 0002011674 ydesw:LensMateEyeBufferLensMateMember ydesw:SaleCertificationOfUSOTCMember 2025-01-01 2025-12-31 0002011674 ydesw:ThreeDGlobalPatentMember 2024-12-31 0002011674 ydesw:EGBioMedPatentMember 2024-12-31 0002011674 ydesw:RightOfUseAssetsMember 2025-12-31 0002011674 ydesw:RightOfUseAssetsMember 2024-12-31 0002011674 us-gaap:WarrantMember 2025-12-31 0002011674 ydesw:YDBioLimitedMember ydesw:PublicWarrantsMember 2025-12-31 0002011674 ydesw:YDBioLimitedMember ydesw:PrivatePlacementWarrantsMember 2025-12-31 0002011674 ydesw:PublicWarrantsMember 2025-12-31 0002011674 ydesw:PrivatePlacementWarrantsMember 2025-12-31 0002011674 ydesw:YDBiopharmaMember 2025-01-01 2025-12-31 0002011674 ydesw:YDBiopharmaMember us-gaap:CommonStockMember 2025-12-31 0002011674 ydesw:PrivateInvestmentInPublicEquityMember us-gaap:CommonStockMember 2025-08-28 2025-08-28 0002011674 us-gaap:InvestorMember 2025-08-28 2025-08-28 0002011674 ydesw:PrivateInvestmentInPublicEquityMember 2025-08-28 0002011674 ydesw:YDBiopharmaMember ydesw:PublicWarrantsMember 2025-12-01 2025-12-31 0002011674 ydesw:PublicWarrantsMember us-gaap:CommonStockMember 2025-12-31 0002011674 ydesw:PublicWarrantsMember 2024-01-01 2024-12-31 0002011674 us-gaap:FairValueInputsLevel1Member ydesw:PublicWarrantsMember 2025-12-31 0002011674 us-gaap:FairValueInputsLevel2Member ydesw:PublicWarrantsMember 2025-12-31 0002011674 us-gaap:FairValueInputsLevel3Member ydesw:PublicWarrantsMember 2025-12-31 0002011674 us-gaap:FairValueInputsLevel1Member ydesw:PrivatePlacementWarrantsMember 2025-12-31 0002011674 us-gaap:FairValueInputsLevel2Member ydesw:PrivatePlacementWarrantsMember 2025-12-31 0002011674 us-gaap:FairValueInputsLevel3Member ydesw:PrivatePlacementWarrantsMember 2025-12-31 0002011674 us-gaap:PrivatePlacementMember 2025-08-27 0002011674 ydesw:PublicWarrantMember 2025-08-27 0002011674 ydesw:WarrantLiabilitiesMember 2025-08-27 0002011674 us-gaap:PrivatePlacementMember 2025-08-28 2025-12-31 0002011674 ydesw:PublicWarrantMember 2025-08-28 2025-12-31 0002011674 ydesw:WarrantLiabilitiesMember 2025-08-28 2025-12-31 0002011674 us-gaap:PrivatePlacementMember 2025-12-31 0002011674 ydesw:PublicWarrantMember 2025-12-31 0002011674 ydesw:WarrantLiabilitiesMember 2025-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:MedicalAndRelatedProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:RetailCustomersMember ydesw:MedicalAndRelatedProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:MedicalAndRelatedProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:DrugsMember 2025-01-01 2025-12-31 0002011674 ydesw:RetailCustomersMember ydesw:DrugsMember 2025-01-01 2025-12-31 0002011674 ydesw:DrugsMember 2025-01-01 2025-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:BeautyProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:RetailCustomersMember ydesw:BeautyProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:BeautyProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:ContactLensesMember 2025-01-01 2025-12-31 0002011674 ydesw:RetailCustomersMember ydesw:ContactLensesMember 2025-01-01 2025-12-31 0002011674 ydesw:ContactLensesMember 2025-01-01 2025-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:NutritionalProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:RetailCustomersMember ydesw:NutritionalProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:NutritionalProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:SupplementsMember 2025-01-01 2025-12-31 0002011674 ydesw:RetailCustomersMember ydesw:SupplementsMember 2025-01-01 2025-12-31 0002011674 ydesw:SupplementsMember 2025-01-01 2025-12-31 0002011674 ydesw:CorporateCustomersMember 2025-01-01 2025-12-31 0002011674 ydesw:RetailCustomersMember 2025-01-01 2025-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:DrugsMember 2024-01-01 2024-12-31 0002011674 ydesw:RetailCustomersMember ydesw:DrugsMember 2024-01-01 2024-12-31 0002011674 ydesw:DrugsMember 2024-01-01 2024-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:MedicalAndRelatedProductsMember 2024-01-01 2024-12-31 0002011674 ydesw:RetailCustomersMember ydesw:MedicalAndRelatedProductsMember 2024-01-01 2024-12-31 0002011674 ydesw:MedicalAndRelatedProductsMember 2024-01-01 2024-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:NutritionalProductsMember 2024-01-01 2024-12-31 0002011674 ydesw:RetailCustomersMember ydesw:NutritionalProductsMember 2024-01-01 2024-12-31 0002011674 ydesw:NutritionalProductsMember 2024-01-01 2024-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:SupplementsMember 2024-01-01 2024-12-31 0002011674 ydesw:RetailCustomersMember ydesw:SupplementsMember 2024-01-01 2024-12-31 0002011674 ydesw:SupplementsMember 2024-01-01 2024-12-31 0002011674 ydesw:CorporateCustomersMember 2024-01-01 2024-12-31 0002011674 ydesw:RetailCustomersMember 2024-01-01 2024-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:DrugsMember 2023-01-01 2023-12-31 0002011674 ydesw:RetailCustomersMember ydesw:DrugsMember 2023-01-01 2023-12-31 0002011674 ydesw:DrugsMember 2023-01-01 2023-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:MedicalAndRelatedProductsMember 2023-01-01 2023-12-31 0002011674 ydesw:RetailCustomersMember ydesw:MedicalAndRelatedProductsMember 2023-01-01 2023-12-31 0002011674 ydesw:MedicalAndRelatedProductsMember 2023-01-01 2023-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:NutritionalProductsMember 2023-01-01 2023-12-31 0002011674 ydesw:RetailCustomersMember ydesw:NutritionalProductsMember 2023-01-01 2023-12-31 0002011674 ydesw:NutritionalProductsMember 2023-01-01 2023-12-31 0002011674 ydesw:CorporateCustomersMember ydesw:SupplementsMember 2023-01-01 2023-12-31 0002011674 ydesw:RetailCustomersMember ydesw:SupplementsMember 2023-01-01 2023-12-31 0002011674 ydesw:SupplementsMember 2023-01-01 2023-12-31 0002011674 ydesw:CorporateCustomersMember 2023-01-01 2023-12-31 0002011674 ydesw:RetailCustomersMember 2023-01-01 2023-12-31 0002011674 country:US 2025-01-01 2025-12-31 0002011674 country:TW 2025-01-01 2025-12-31 0002011674 ydesw:LicenseAgreementMember 2024-06-30 0002011674 ydesw:ThreeDGlobalPatentMember 2024-06-30 2024-06-30 0002011674 2024-06-30 2024-06-30 0002011674 ydesw:ThreeDGlobalMember 2025-01-01 2025-12-31 0002011674 ydesw:ThreeDGlobalMember 2024-01-01 2024-12-31 0002011674 ydesw:ThreeDGlobalMember 2023-01-01 2023-12-31 0002011674 ydesw:EGBioMedCoLtdMember us-gaap:RelatedPartyMember 2024-06-30 0002011674 ydesw:EGBioMedCoLtdMember 2024-06-30 2024-06-30 0002011674 ydesw:PancreaticCancerPatentMember 2025-01-01 2025-12-31 0002011674 ydesw:PancreaticCancerPatentMember 2024-01-01 2024-12-31 0002011674 ydesw:PancreaticCancerPatentMember 2023-01-01 2023-12-31 0002011674 ydesw:BreastCancerPatentMember 2025-01-01 2025-12-31 0002011674 ydesw:BreastCancerPatentMember 2024-01-01 2024-12-31 0002011674 ydesw:BreastCancerPatentMember 2023-01-01 2023-12-31 0002011674 ydesw:YDBiopharmaMember 2025-01-01 2025-12-31 0002011674 ydesw:YDBiopharmaMember 2024-01-01 2024-12-31 0002011674 srt:ScenarioForecastMember 2034-12-31 0002011674 srt:ScenarioForecastMember 2035-12-31 0002011674 us-gaap:DomesticCountryMember 2025-12-31 0002011674 ydesw:YongDingsMember 2025-01-01 2025-12-31 0002011674 ydesw:YongDingsMember 2024-01-01 2024-12-31 0002011674 ydesw:YongDingsMember 2023-01-01 2023-12-31 0002011674 ydesw:YDUSAsMember 2025-01-01 2025-12-31 0002011674 ydesw:YDUSAsMember 2024-01-01 2024-12-31 0002011674 ydesw:YDUSAsMember 2023-01-01 2023-12-31 0002011674 2025-09-17 0002011674 2025-12-31 2025-12-31 0002011674 ydesw:ThreeDGlobalMember 2025-01-01 2025-12-31 0002011674 ydesw:EGBioMedMember 2025-01-01 2025-12-31 0002011674 ydesw:ThreeDGlobal1Member 2025-01-01 2025-12-31 0002011674 ydesw:ThreeDGlobal2Member 2025-01-01 2025-12-31 0002011674 ydesw:EGBioUSAMember 2025-01-01 2025-12-31 0002011674 ydesw:EGBioMed1Member 2024-01-01 2024-12-31 0002011674 ydesw:ThreeDGlobal3Member 2025-01-01 2025-12-31 0002011674 ydesw:ThreeDGlobal4Member 2025-01-01 2025-12-31 0002011674 ydesw:ThreeDGlobal5Member 2025-01-01 2025-12-31 0002011674 ydesw:EGBioMed2Member 2025-01-01 2025-12-31 0002011674 ydesw:EGBioUSA1Member 2025-01-01 2025-12-31 0002011674 ydesw:JiYanBiomedicalCoLtdMember 2025-01-01 2025-12-31 0002011674 ydesw:TheCompanysCEOMember 2024-01-01 2024-12-31 0002011674 ydesw:EGBioMed3Member 2024-01-01 2024-12-31 0002011674 ydesw:EGBioMed4Member 2024-01-01 2024-12-31 0002011674 ydesw:ThreeDGlobal6Member 2024-01-01 2024-12-31 0002011674 ydesw:ThreeDGlobal7Member 2024-01-01 2024-12-31 0002011674 ydesw:ResearchAndDevelopmentOfSalesOfContactLensesMember ydesw:ThreeDGlobalPatentMember 2025-01-01 2025-12-31 0002011674 ydesw:SalesOfMedicalAndOtherRelatedProductsMember 2025-01-01 2025-12-31 0002011674 ydesw:ResearchAndDevelopmentOfPancreaticCancerEarlyDetectionServicesMember 2025-01-01 2025-12-31 0002011674 ydesw:ResearchAndDevelopmentOfSalesOfContactLensesMember 2025-01-01 2025-12-31 0002011674 ydesw:CorporateUnallocatedMember 2025-01-01 2025-12-31 0002011674 ydesw:SalesOfMedicalAndOtherRelatedProductsMember 2025-12-31 0002011674 ydesw:ResearchAndDevelopmentOfPancreaticCancerEarlyDetectionServicesMember 2025-12-31 0002011674 ydesw:ResearchAndDevelopmentOfSalesOfContactLensesMember 2025-12-31 0002011674 ydesw:CorporateUnallocatedMember 2025-12-31 0002011674 ydesw:SalesOfMedicalAndOtherRelatedProductsMember 2024-01-01 2024-12-31 0002011674 ydesw:ResearchAndDevelopmentOfPancreaticCancerEarlyDetectionServicesMember 2024-01-01 2024-12-31 0002011674 ydesw:ResearchAndDevelopmentOfSalesOfContactLensesMember 2024-01-01 2024-12-31 0002011674 ydesw:CorporateUnallocatedMember 2024-01-01 2024-12-31 0002011674 ydesw:SalesOfMedicalAndOtherRelatedProductsMember 2024-12-31 0002011674 ydesw:ResearchAndDevelopmentOfPancreaticCancerEarlyDetectionServicesMember 2024-12-31 0002011674 ydesw:ResearchAndDevelopmentOfSalesOfContactLensesMember 2024-12-31 0002011674 ydesw:CorporateUnallocatedMember 2024-12-31 0002011674 ydesw:SafeSaveMedicalCellSciencesTechnologyCoLtdMember us-gaap:SubsequentEventMember 2026-01-20 0002011674 ydesw:SafeSaveMedicalCellSciencesTechnologyCoLtdMember us-gaap:SubsequentEventMember 2026-01-20 2026-01-20 0002011674 srt:ScenarioForecastMember us-gaap:WarrantMember 2026-04-30 0002011674 srt:ScenarioForecastMember us-gaap:RestrictedStockUnitsRSUMember 2026-03-31 2026-03-31 iso4217:USD iso4217:USD shares shares pure iso4217:TWD YD Bio Limited E9 2835 Non-accelerated Filer true true false This Post-Effective Amendment No. 1 to the Registration Statement on Form F-1 (File No. 333-290471) (as amended, the “Registration Statement”) of YD Bio Limited (the “Registrant” or the “Company”), as originally became effective on November 13, 2025 pursuant to Section 8(a) of the Securities Act of 1933, as amended, is being filed to update the Registration Statement to reflect the Registrant’s recently filed Annual Report on Form 20-F for the fiscal year ended December 31, 2025, filed with the SEC on April 30, 2026, and certain other updated information. No additional securities are being registered under this Post-Effective Amendment No. 1. All applicable registration fees were paid at the time of the original filing of the Registration Statement.

6007615

3132298

167477

86582

291540

16927

1879542

37335

1324016

194740

9670190

3467882

8470

23698

59340

64379

2609739

2680035

628232

1431658

13779397

6864226

785665

37253

6764

16581

413290

26866

437859

182360

1643578

263060

1463

5684

3773

14991482

16635060

273980

0.0001

500000000

70789261

64730411

7079

6473

7161681

8465744

-10238359

-1927043

213936

45072

-2855663

6590246

13779397

6864226

596817

510360

350131

429407

355004

196686

167410

155356

153445

3663141

1124469

153069

170523

1957

7492

1602064

491353

3403

-493

2731

5439131

1617286

163292

-5271721

-1461930

-9847

46803

64415

29351

80162

11808

290

772

2144

3168091

-3041126

75451

27497

-8312847

-1386479

17650

-1531

25080

4090

-8311316

-1411559

13560

-168864

2139

-99

-8142452

-1413698

13659

-0.12

-0.02

66719177

64730411

1051997

105200

386067

-529044

47112

9335

63678414

-98727

98727

64730411

6473

484794

-529044

47112

9335

13560

64730411

6473

484794

-515484

47211

22994

7980950

-1411559

-2139

64730411

6473

8465744

-1927043

45072

6590246

5790937

579

13199421

13200000

267913

2642399

2642426

448476

13746147

-3848212

-8311316

168864

70789261

7079

7161681

-10238359

213936

-2855663

-8311316

-1411559

13560

-1463

26576

4090

16246

10199

2452

193314

94536

3403

-493

2731

-109

-466

20471

11731

47740

3168091

84298

-6297

63858

274613

17316

1842207

-28517

30570

850261

182721

-4818

386424

10196

5391

251726

175658

4605

748412

37937

-20744

-12239

-47082

-6596706

-1222681

-55657

1440019

74914

290

2836080

10324

-1440019

-2900670

-290

715645

13200000

7545772

314409

52952

-99558

93544

32977

32609

3219981

614137

173486

10869150

7113509

113887

42892

55042

-984

2875317

3045200

56956

3132298

87098

30142

6007615

3132298

87098

772

2144

13746147

628231 22265 4249 8610 7941973

1. ORGANIZATION YD Bio Limited (“YD Bio” or the “Company”) is as a Cayman Islands company operating under the Cayman Islands Companies Act (Revised) with its shares listed on NASDAQ (“symbol”: YDES). After the Business Combination (as discussed below), YD Bio Limited is a publicly listed biotechnology company focused on regulated diagnostics, life science clinical services, and healthcare product commercialization. The Company operates DNA methylation-based oncology testing programs in the United States under a laboratory-developed test (“LDT”) commercialization framework and collaborates with CLIA-certified and CAP-accredited laboratory partners. In addition to its diagnostics activities, the Company provides regulated life science distribution and clinical trial supply chain services to pharmaceutical and biotechnology companies. These services include procurement, logistics coordination, and compliance-focused support for clinical development programs. The Company also maintains ocular health product commercialization operations in the United States and consumer health distribution activities in Asia, under applicable regulatory and market requirements. Through the combination of its diagnostics platform, clinical service infrastructure, and healthcare commercialization capabilities, the Company seeks to develop a scalable operating platform designed to support growth across multiple regulated healthcare segments. Business Combination On September 24, 2024, the Merger Agreement was signed among (i) the Company, (ii) Breeze Holdings Acquisition Corp., a Delaware corporation (“Breeze”), (iii) Breeze Merger Sub, Inc., a Delaware corporation and which will be a direct, wholly owned subsidiary of the Company (“Breeze Merger Sub”), (iv) BH Biopharma Merger Sub Limited, a Cayman Islands exempted company (“Company Merger Sub,” with Company Merger Sub and Breeze Merger Sub together referred to herein as the “Merger Subs”), and (v) YD Biopharma Limited, a Cayman Islands exempted company (“YD Biopharma”). In connection with and upon the consummation of the merger contemplated by the Merger Agreement, Breeze Merger Sub will merge with and into Breeze with Breeze surviving the merger as a wholly-owned subsidiary of the Company, and Company Merger Sub will merge with and into YD Biopharma, with YD Biopharma surviving such merger as a wholly-owned subsidiary of the Company. Breeze was liquidated in December 2025. The Merger and the other transactions contemplated by the Merger Agreement are collectively referred to as the “Business Combination”. On August 28, 2025 (the “Closing Date”), the Company consummated the closing of the Business Combination. As a result of the Business Combination, the Company is the surviving publicly traded entity and owns 100% of the outstanding ordinary shares of YD Biopharma and ordinary shares, warrants, and rights of Breeze. Breeze’s outstanding shares were exchanged for 4,140,948 ordinary shares of the Company, as stipulated in the Merger Agreement. This exchange reflects the conversion of Breeze’s public shares, sponsor shares, rights and other outstanding equity interests (net of any redemptions) into ordinary shares of the Company, contributing to the post-closing equity structure of the Company. At the same time, pursuant to the Merger Agreement, the issued and outstanding shares of YD Biopharma were exchanged for ordinary shares of the Company with each YD Biopharma shareholder receiving its pro rata share of the Exchange Consideration. The “Exchange Consideration” was the number of newly issued YD Bio ordinary shares equal to (a) a transaction value of $647,304,110 divided by (b) a per share price of $10.00. “Pro Rata Share” means, with respect to each YD Biopharma shareholder, a fraction expressed as a percentage equal to (i) the number of shares of common stock held by such YD Biopharma shareholder immediately prior to the closing, divided by (ii) the total number of issued and outstanding shares of common stock immediately prior to the closing. As a result, 64,730,411 ordinary shares of the Company were issued to the former shareholders of YD Biopharma at closing. In addition, on August 28, 2025, the Company issued 1,650,000 ordinary shares to certain investors in connection with a private investment in public equity (“PIPE”) Financing raising aggregate proceeds of $13.2 million at a price per share of $8.00.On August 28, 2025, Breeze’s outstanding warrants were exchanged for 16,925,000 YD Bio warrants on a one-for-one basis, with the same exercise price and terms. As of August 28, 2025, immediately following the completion of the Business Combination closing, there were 70,521,359 ordinary shares outstanding and 16,925,000 warrants outstanding. The transaction was accounted for as a reverse recapitalization with YD Biopharma being the accounting acquirer and Breeze as the acquired company for accounting purposes. YD Biopharma was determined to be the accounting acquirer since YD Biopharma’s shareholders prior to the Business Combination had the greatest voting interest in the combined entity, YD Biopharma comprised the ongoing operations, had the go-forward senior management, and the YD Biopharma shareholders were to control the board of directors and have a majority of the voting power of YD Bio. Accordingly, for accounting purposes, the financial statements after the closing of the Business Combination represent a continuation of the financial statements of YD Biopharma, with the Business Combination treated as the equivalent of issuing shares for the net assets of Breeze, accompanied by a recapitalization. The net assets of Breeze are stated at historical cost, with no goodwill or other intangible assets recorded. Additionally, the shares and corresponding capital amounts and losses per share, prior to the Business Combination have been retrospectively restated base on shares reflecting the exchange ratio established in Merger Agreement. On August 29, 2025, the Ordinary Shares and Public Warrants began trading on the NASDAQ under the proposed symbols “YDES” and “YDESW,” respectively. As of April 30, 2026, the Company had direct and indirect interests in the following subsidiaries: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Name of Entity</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Date of Incorporation</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Place of Incorporation</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Shareholders</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">% of Equity Ownership</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Principal Activities</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 17%; text-align: left; text-indent: -9pt; padding-left: 9pt">YD Biopharma Limited (“YD Biopharma”)</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 15%; text-align: center">March 14, 2024</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 15%; text-align: center">Cayman</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 15%; text-align: center">YD Bio</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 15%; text-align: center">100%</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 15%; text-align: center">Holding</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; text-indent: -9pt; padding-left: 9pt">Yong Ding Biopharm Co., Ltd (“Yong Ding”)</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">April 23, 2013</td><td style="text-align: left"> </td><td> </td> <td style="vertical-align: top; text-align: center">the Republic of China (“ROC” or “Taiwan”)</td><td> </td> <td style="vertical-align: top; text-align: center">YD Biopharma</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">100%</td><td> </td> <td style="vertical-align: top; text-align: center">Sales of drugs, medical and related products in Taiwan</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; text-indent: -9pt; padding-left: 9pt">YD BIO USA, INC. (“YD BIO USA”)</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">February 4, 2025</td><td style="text-align: left"> </td><td> </td> <td style="vertical-align: top; text-align: center">Delaware (US)</td><td> </td> <td style="vertical-align: top; text-align: center">YD Biopharma</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">100%</td><td> </td> <td style="vertical-align: top; text-align: center">Sales of drugs, medical and related products in US</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; text-indent: -9pt; padding-left: 9pt">YD PharmaWings Limited (“YD PharmaWings”)</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">October 23, 2025</td><td style="text-align: left"> </td><td> </td> <td style="vertical-align: top; text-align: center">BVI</td><td> </td> <td style="vertical-align: top; text-align: center">YD Biopharma</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">100%</td><td> </td> <td style="vertical-align: top; text-align: center">Investment holding</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; text-indent: -9pt; padding-left: 9pt">Breeze Holdings Acquisition Corp (“Breeze”)</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">March 3, 2021</td><td style="text-align: left"> </td><td> </td> <td style="vertical-align: top; text-align: center">Delaware (US)</td><td> </td> <td style="vertical-align: top; text-align: center">YD Bio</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">100%</td><td> </td> <td style="vertical-align: top; text-align: center">Dissolved in December 2025</td></tr> </table>

4140948

647304110

64730411

1650000

13200000

16925000

70521359

16925000

As of April 30, 2026, the Company had direct and indirect interests in the following subsidiaries: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; vertical-align: bottom">Name of Entity</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Date of Incorporation</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold; vertical-align: bottom"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Place of Incorporation</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Shareholders</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">% of Equity Ownership</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Principal Activities</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 17%; text-align: left; text-indent: -9pt; padding-left: 9pt">YD Biopharma Limited (“YD Biopharma”)</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 15%; text-align: center">March 14, 2024</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 15%; text-align: center">Cayman</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 15%; text-align: center">YD Bio</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 15%; text-align: center">100%</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 15%; text-align: center">Holding</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; text-indent: -9pt; padding-left: 9pt">Yong Ding Biopharm Co., Ltd (“Yong Ding”)</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">April 23, 2013</td><td style="text-align: left"> </td><td> </td> <td style="vertical-align: top; text-align: center">the Republic of China (“ROC” or “Taiwan”)</td><td> </td> <td style="vertical-align: top; text-align: center">YD Biopharma</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">100%</td><td> </td> <td style="vertical-align: top; text-align: center">Sales of drugs, medical and related products in Taiwan</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; text-indent: -9pt; padding-left: 9pt">YD BIO USA, INC. (“YD BIO USA”)</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">February 4, 2025</td><td style="text-align: left"> </td><td> </td> <td style="vertical-align: top; text-align: center">Delaware (US)</td><td> </td> <td style="vertical-align: top; text-align: center">YD Biopharma</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">100%</td><td> </td> <td style="vertical-align: top; text-align: center">Sales of drugs, medical and related products in US</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; text-indent: -9pt; padding-left: 9pt">YD PharmaWings Limited (“YD PharmaWings”)</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">October 23, 2025</td><td style="text-align: left"> </td><td> </td> <td style="vertical-align: top; text-align: center">BVI</td><td> </td> <td style="vertical-align: top; text-align: center">YD Biopharma</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">100%</td><td> </td> <td style="vertical-align: top; text-align: center">Investment holding</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; text-indent: -9pt; padding-left: 9pt">Breeze Holdings Acquisition Corp (“Breeze”)</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">March 3, 2021</td><td style="text-align: left"> </td><td> </td> <td style="vertical-align: top; text-align: center">Delaware (US)</td><td> </td> <td style="vertical-align: top; text-align: center">YD Bio</td><td> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center">100%</td><td> </td> <td style="vertical-align: top; text-align: center">Dissolved in December 2025</td></tr> </table>

2024-03-14

Cayman

YD Bio

Holding

2013-04-23

the Republic of China (“ROC” or “Taiwan”)

YD Biopharma

Sales of drugs, medical and related products in Taiwan

2025-02-04

Delaware (US)

YD Biopharma

Sales of drugs, medical and related products in US

2025-10-23

BVI

YD Biopharma

Investment holding

2021-03-03

Delaware (US)

YD Bio

Dissolved in December 2025

2. GOING CONCERN In connection with the Company’s assessment of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standard Board (“FASB”) Accounting Standards Update (“ASU”) Topic 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the Company currently lacks the liquidity it needs to sustain operations for a reasonable period of time, which is considered to be at least one year from the date that the consolidated financial statements are issued.The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and liquidation of liabilities during the normal course of operations. The Company’s operating results for future periods are subject to numerous uncertainties and it is uncertain if the Company will be able to generate net income for the foreseeable future. Accordingly, the Company may not be able to obtain additional financing. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for at least twelve months from the date hereof. The Company has incurred recurring losses and negative cash flows from operations for the years ended December 31, 2025, 2024 and 2023. The Company will need additional funds to satisfy its outstanding payables, fund its working capital, and fully implement its business plan. The Company plans to continue developing strategies on similar or expanded operations of business to help our ability to determine where business will be viable going forward. Until such time, if ever, the Company can generate substantial product revenues. The Company plans to finance cash needs through public or private equity offerings or debt financing. However, there is no assurance that the Company will be able to raise additional capital, generate revenues or achieve profitability due to the factors listed above. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these or other risks or uncertainties.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statement of the Company is presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to avail itself of this exemption and, therefore, for new or revised accounting standards applicable to public companies, the Company will be subject to an extended transition period until those standards would otherwise apply to private companies. Business combination The Company applies the provisions of ASC 805, Business Combinations, in accounting for its acquisitions. To determine whether transactions should be accounted for as asset acquisition or business combination, the Company evaluates whether substantially all of the fair value of gross assets included in a transaction is concentrated in a single asset (or a group of similar assets), resulting in an asset acquisition; if that is not the case, the resulting accounting is as a business combination. In an asset acquisition, the cost of acquiring the asset group, including transaction costs, is allocated to the acquired assets or assumed liabilities based on their relative fair values without giving rise to goodwill. In a business combination, the Company recognizes separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to its consolidated statements of operations.The Business Combination was accounted for as a “reverse recapitalization” in accordance with accounting principles generally accepted in GAAP. Under this method of accounting, Breeze was treated as the “acquired” company for financial reporting purposes. YD Biopharma was determined to be the accounting acquirer since YD Biopharma’s shareholders prior to the Business Combination had the greatest voting interest in the combined entity, YD Biopharma comprised the ongoing operations, had the go-forward senior management, and the YD Biopharma shareholders were to control the board of directors and have a majority of the voting power of YD Bio. Accordingly, for accounting purposes, the financial statements after the closing of the Business Combination represent a continuation of the financial statements of YD Biopharma, with the Business Combination treated as the equivalent of issuing shares for the net assets of Breeze, accompanied by a recapitalization. The net assets of Breeze are stated at historical cost, with no goodwill or other intangible assets recorded. Principles of consolidation The financial statements include the financial statements of the Company and its subsidiaries, see Note 1. Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Significant accounting estimates reflected in the consolidated financial statements included revenue recognition, provision for expected credit losses of accounts receivable, prepayment and other receivables, long-term investment impairment assessment, inventories impairment assessment, property, plant and equipment impairment assessment, intangible assets impairment assessment, the valuation allowance for deferred tax assets, right-of-use (“ROU”) assets and operating lease liabilities. Accordingly, the actual results could differ significantly from those estimates. Risk and uncertainties Generally, the industry in which the Company operates subjects the Company to a number of risks and uncertainties that can affect its operating results and financial condition. Such factors include, but are not limited to: the timing, costs and results of clinical trials and other development activities versus expectations; the ability to manufacture products successfully; competition from products sold or being developed by other companies; the price of, and demand for products once approved; the ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products. Fair Value of Financial Instruments The Company has adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements, which defines fair value, establishes a framework for measuring fair value in U.S. GAAP, and expands disclosures about fair value measurements. ASC 820 establishes a three-level valuation hierarchy of valuation techniques based on observable and unobservable input, which may be used to measure fair value and include the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 62px">Level 1 —</td> <td style="text-align: justify">Quoted prices in active markets for identical assets or liabilities.</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 62px">Level 2 —</td> <td style="text-align: justify">Input other than Level 1 that is observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other input that is observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 62px">Level 3 —</td> <td style="text-align: justify">Unobservable input that is supported by little or no market activity and that is significant to the fair value of the assets or liabilities.</td></tr> </table> Our cash and cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market price. The carrying amounts of the other financial assets and liabilities, which consist of accounts receivable, other current assets, accounts payable and other liabilities, amount due to a shareholder and amount due to an affiliate, approximate their fair values due to the short-term nature of these instruments.Cash and cash equivalents Cash and cash equivalents included cash on hand placed with banks or other financial institutions, which are unrestricted as to withdrawal and use and with an original maturity of three months or less. Cash equivalents are short-term, highly liquid investments that are readily convertible into cash with an original maturity of three months or less, at the date acquired. The Company’s balance of cash and cash equivalents was $6.0 million and $3.1 million as of December 31, 2025 and 2024 respectively. Deposits in banks in Taiwan are only insured by Central Deposit Insurance Corporation, a government agency, up to NTD 3 million (US$94,000); Deposit in banks in the USA are only insured by Federal Deposit Insurance Corporation up to $250,000 and are consequently exposed to risk of loss. The Company believes the probability of a bank failure causing loss to the Company is remote. Receivable and Allowance The Company has adopted ASC 326, Financial Instruments — Credit Losses, which requires an impairment model that is based on current expected loss. The Company’s accounts receivable and other current assets are within the scope of ASC 326. Accounts receivable and amount due from an affiliate are recognized and carried at the original invoice amounts less the expected credit loss. The Company has a policy of reserving for uncollectible accounts based on best estimate of the amount of probable expected credit losses in the existing accounts receivable. The Company performs ongoing credit evaluations of its customers and maintains an allowance for potential bad debts if required. Other current assets are recognized and carried at the initial amount when occurred less an allowance for any uncollectible amount. To estimate expected credit losses, the Company has identified the relevant risk characteristics of its counterparty and the related receivables, amount due from an affiliate and other current assets which include size, type of the services or the products the Company provides, or a combination of these characteristics. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Company considers the past collection experience, current economic conditions, future economic conditions (external data and macroeconomic factors) and changes in the Company’s customer collection trends. Other key factors that influence the expected credit loss analysis include customer demographics, payment terms offered in the normal course of business to customers, and industry-specific factors that could impact the Company’s receivables. Additionally, external data and macroeconomic factors are also considered. This is assessed annually based on the Company’s specific facts and circumstances. There has been no significant impact of changes in the assumptions since adoption. The Company has assessed its receivable and amount due from an affiliate including credit term and corresponding receivables as of December 31, 2025 and 2024. Based upon such credit terms, the Company recorded bad debt expenses of $3,403, $493 in recoveries, and $2,731 for the years ended December 31, 2025, 2024 and 2023, respectively. The Company recognized $6,598 and $3,055 expected credit loss provision for account receivables and other current assets as of December 31, 2025, and 2024, respectively. Inventories Inventories are stated at the lower of cost and net realizable value, with cost determined by the weighted average method. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Write-down of potential obsolete or slow-moving inventories is recorded as cost of revenue based on management’s assumptions about future demands and market conditions. No write-down is recorded for inventories for the year ended December 31, 2025, and 2024. Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses, if any. Depreciation is computed on a straight-line basis with no salvage value over the estimated useful lives of 3 to 5 years for equipment, fixtures and furniture. The cost and accumulated depreciation of property, plant and equipment disposed of or sold are removed from the balance sheets and the resulting gains and losses are recognized in the statements of operations. Intangible assets Intangible assets are stated in the balance sheet at cost less accumulated amortization and impairment, if any. The costs of the intangible assets are amortized on straight-line basis over their estimated useful lives. The Company had two licensed patents as of December 31, 2025, (i) one licensed patent involves the formula and technology of cell culture process, technology of cell bank construction, exosome purification, authentication technology, and exosome production which are derived from the methods of culturing human corneal limbus cells and the relevant know-how (the “3D Global Patent”) and (ii) the other licensed patent involves Methylation analysis technology for application in pancreatic cancer and the relevant know-how (the “EG BioMed Patent”).The respective amortization periods for the intangible assets are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: justify">3D Global Patent (note 8)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">15 years</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">EG BioMed Patent (note 8)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">15 years</td><td style="text-align: left"> </td></tr> </table> Impairment of Long-Lived Assets In accordance with the ASC 360-10, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets, such as property, plant and equipment, leased assets and purchased intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable, or it is reasonably possible that these assets could become impaired as a result of technological or other industrial changes. The determination of recoverability of assets to be held and used is made by comparing the carrying amount of an asset to future undiscounted cash flows to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. There was no impairment of long-lived assets recorded for the year ended December 31, 2025, and 2024. Lease The Company accounts for leases in accordance with ASC 842, Leases, which requires lessees to recognize leases on the balance sheet and disclose key information about leasing arrangements. For the leases with a term within 12 months, the Company has elected the short-term lease recognition exemption and therefore does not recognize right-of-use (ROU) assets or lease liabilities for these leases. The Company determines if a contract contains a lease based on whether it has the right to obtain substantially all of the economic benefits from the use of an identified asset which the Company does not own and whether it has the right to direct the use of an identified asset in exchange for consideration. Leased assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The right-of-use asset is initially measured as the amount of the lease liability, plus any lease payments made at or before the commencement date, plus any initial direct costs incurred by the lessee, minus any lease incentives received. Lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate (“IBR”), because the interest rate implicit in most of the Company’s leases is not readily determinable. The IBR is a hypothetical rate based on the Company’s understanding of what its credit rating would be to borrow and the resulting interest the Company would pay to borrow an amount equal to the lease payments in a similar economic environment over the lease term on a collateralized basis. Lease payments may be fixed or variable, however, only fixed payments or in-substance fixed payments are included in the Company’s lease liability calculation. Variable lease payments are recognized in operating expenses in the period in which the obligation for those payments is incurred. The Company recognized no impairment of leased assets for the year ended December 31, 2025, and 2024. Warrant Liabilities The Company accounts for the Public Warrants and Private Placement Warrants (collectively, “Warrants”, see Note 14 issued in connection with the merger transaction in accordance with ASC 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity”. Such guidance provides that because the warrants do not meet the criteria for equity treatment thereunder, each warrant must be classified as a liability. Accordingly, the Company classifies each warrant as a liability at its fair value. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability is adjusted to fair value, with the change in fair value recognized in the Company’s consolidated statements of operations. Statutory reserve Pursuant to the laws applicable to Taiwan, Taiwanese entities must make appropriations from after-tax profit to the non-distributable “statutory reserve”. Subject to certain cumulative limits, the “statutory reserve” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 100% of the authorized capital (as determined under accounting principles generally accepted in Taiwan (“Taiwan GAAP”) at each year end). Since the YD Bio’s subsidiary in Taiwan has accumulated deficit under Taiwan GAAP during the reporting period, it is not required to make appropriations to the statutory reserve. Revenue Recognition The Company recognizes revenue when a customer obtains control of promised goods or receives services provided in an amount that reflects the consideration which the Company expects to receive in exchange for those goods and services. To determine revenue recognition for the arrangements that the Company determines are within the scope of ASC 606, Revenue from Contracts with Customers, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation.The Company’s revenue from contracts with customers is derived from product revenue principally from the sales of products directly to its customers and presents revenue net of VAT. Product revenue recognition — point of time The performance obligations are considered to be met, and revenue is recognized when the customer obtains control of the goods. Revenue is recognized at that point in time. The customers pick up the goods directly from the Company’s premises, and the Company has satisfied the contracts’ performance obligations when the goods have been picked up, and the acceptance document has been signed by the customers. The Company does not offer sales rebates to its customers. Any discount will be net of the revenue at that point in time. The Company does not provide its customers with the right of return (except for product quality issues). The customer is required to perform a product quality check immediately upon delivery of the products and report to the Company within a few days if there is a quality issue. Cost of revenue Cost of revenue consists primarily of purchased costs of products for resales, the material costs and subcontracting costs of manufactured products which are directly attributable to the manufacturing of products and other costs directly related to the rendering of services performed. Research and development Research and development costs are expensed as incurred in accordance with ASC 730, Research and Development. The Company incurs research and development costs in the pursuit of new products and improving the formulation of existing products. Shipping and handling expenses The Company expenses shipping and handling expenses as incurred. The Company recorded $16,619, $18,436 and $12,753 of shipping and handling expenses for the years ended December 31, 2025, 2024 and 2023, respectively. Other income, net The Company has entered into subleasing arrangements with two drug stores in Taiwan to lease part of the leased premises to them for the year ended December 31, 2024 and 2023. For the year ended December 31, 2025 and 2024, the Company also entered into leasing arrangements with corporate customers to lease equipment. The Company receives income from operating leases based on the fixed required rents (base rent) per the lease agreements. Rent revenue from base rents is recorded on the straight-line method, when collectability of the lease payments is deemed probable, over the terms of the related lease agreements. Operating lease revenue, as recorded on the straight-line method, in the consolidated statements of operation is recorded as other revenue. The Company recognized $2,080 and $24,533 of income from the subleasing arrangements with the drug stores for the years ended December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, YD Biopharma ceased the only subleasing arrangements with a drug store. The Company recognized $72,703 income from the leasing of equipment to other corporate customers for the year ended December 31, 2025, and recognized $40,382 of income from the subleasing arrangement with a drug store and the leasing of equipment to other corporate customers for the year ended December 31, 2024. Contract liabilities The Company’s contract liabilities consist of deferred revenue associated with the lease arrangements for leasing certain property and equipment to its customers over time and sales of goods. Deferred revenue represents amounts received or invoiced in advance of delivering goods or rendering services. These amounts are recognized as revenue when the performance obligations under the contracts are fulfilled. The table below presents the activity of the deferred revenue from the lease for the year ended December 31, 2025, and 2024, respectively: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Balance at beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">27,568</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advances received from customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,289</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Revenue recognized</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(72,703</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,089</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Exchange realignment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,264</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(632</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Balance at end of period</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">30,153</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">27,568</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>Income Taxes Income taxes are accounted for under the asset and liability method in accordance with ASC 740, Income Taxes. Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets and liabilities are determined based on the temporary difference between the financial reporting and tax bases of assets and liabilities, and net operating loss and tax credit carryforwards using enacted tax rates that will be in effect for the period in which the differences are expected to reverse. The Company records a valuation allowance against the amount of deferred tax assets that it determines is not more likely than not of being realized. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits and penalties, if any, within income tax expenses. Retirement and other post-retirement benefits Contributions to retirement accounts which are defined contribution plans are expensed in the statement of operations as and when the related employee service is provided. Full time employees of the Company in Taiwan participate in a government mandated defined contribution plan, pursuant to which certain pension benefits and medical care benefits are provided to employees. Taiwanese labor regulations require that the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the government. The Company has no legal obligation for the benefits beyond the contributions made. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $8,408, $3,907 and $2,036 for the years ended December 31, 2025, 2024 and 2023, respectively. Translation of foreign currency financial statements The functional currency of YD Bio, YD Biopharma and YD USA is USD. The functional currency of Yong Ding is NTD, the local currency where it operates. The reporting currency of the Company is USD. Accordingly, the financial statements of Yong Ding are translated at the following exchange rates: assets and liabilities — current rate on balance sheet date; shareholders’ equity — historical rate; income and expenses — average rate during the period. The resulting translation adjustment is reflected in the accumulated other comprehensive income (loss). Transactions denominated in currencies other than the functional currencies are recorded at the rate of exchange in effect when the transaction occurs. Gains or losses, resulting from the application of different foreign exchange rates when cash in the foreign currency is converted into the entities’ functional currency, or when foreign currency receivable and payable are settled, are credited or charged to income in the period of conversion or settlement. At period-end, the balances of foreign currency monetary assets and liabilities are recorded based on prevailing exchange rates and any resulting gains or losses are included in the consolidated statements of comprehensive income (loss). Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rates prevailing on the transaction dates. The transaction date is the date on which the Company initially recognizes such non-monetary assets and liabilities. Non-monetary assets and liabilities that are stated at fair value are translated using the exchange rates prevailing at the dates the fair value is measured. The resulting exchange differences are recognized in accumulated other comprehensive income (loss). Translation of amounts from NTD into US$ has been made at the following exchange rates for the respective years: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Period-end NTD: US$1 exchange rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31.34</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">32.77</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">30.73</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Period average NTD: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32.04</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.08</td><td style="text-align: left"> </td></tr> </table>Comprehensive (loss) income Comprehensive (loss) income represents net (loss) income plus the results of certain changes in shareholders’ equity (deficit) during a period from non-owner sources. Comprehensive (loss) income is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220, Comprehensive Income, requires that all items that are required to be recognized under current accounting standards as components of comprehensive loss be reported in a financial statement that is displayed with the same prominence as other financial statements. For each of the periods presented, the Company’s comprehensive (loss) income includes net (loss) income and foreign currency translation adjustments, which are presented in the consolidated statements of comprehensive loss. Net (Loss) Income per Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Basic (loss) income per share is calculated by dividing the net (loss) income by the weighted-average number of Ordinary Shares outstanding during the period. Diluted loss per share is calculated by dividing the loss by the weighted-average number of Ordinary Shares and potentially dilutive securities outstanding during the period. Potentially dilutive Ordinary Shares consist of shares issuable upon the conversion of warrants. The dilutive effect of outstanding shares is reflected in diluted earnings per share by application of the treasury stock method, or the if-converted method. The outstanding Public Warrants and Private Placement Warrants were 11,437,420 and 3,705,491 as of December 31, 2025, all of which were excluded from diluted EPS due to their anti-dilutive effect. There were no outstanding warrants as of December 31, 2024 and 2023. Concentration of risks Concentration of suppliers The following suppliers accounted for 10% or more of purchase for the year ended December 31, 2025, and 2024. For the year ended December 31, 2025, approximately 83.7% of the Company’s purchase was from Supplier D, a company that the Company’s CEO holds 12.85%. <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">D</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">83.7</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>E</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>F</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>G</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.4</td><td style="text-align: left">%</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of purchase for the year ended December 31, 2025, and 2024.</td></tr> </table> Account payable to suppliers that individually comprised 10% or more of accounts payable balances as of December 31, 2025, and 2024 are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">D</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">89.5</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49.5</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.7</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.3</td><td style="text-align: left">%</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of accounts payable balances as of December 31, 2025, and 2024.</td></tr> </table>Concentration of customers The following customers accounted for 10% or more of sales for the year ended December 31, 2025, and 2024: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Customer</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-indent: -10pt; padding-left: 10pt">A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">*</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31.9</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt">C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of revenue for the year ended December 31, 2025, and 2024, respectively.</td></tr> </table> Account receivables, net from customers that individually comprised 10% or more of accounts receivable, net balances as of December 31, 2025, and 2024 are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Customer</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">B</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">30.5</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">49.4</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>E</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.4</td><td style="text-align: left">%</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of accounts receivable balances as of December 31, 2025, and 2024, respectively.</td></tr> </table> Concentration of credit risk Financial instruments that potentially expose the Company to the concentration of credit risk consist primarily of cash and cash equivalents, accounts receivable and other current assets. The Company places its cash and cash equivalents with financial institutions with credit ratings and quality where the Company considers acceptable. The risks with respect to accounts receivable are mitigated by credit evaluations performed on the debtors and ongoing monitoring of outstanding balances. Foreign currency exchange risk The reporting currency of the Company is USD. To date the majority of the revenues and costs are denominated in NTD and a significant portion of the assets and liabilities are denominated in NTD. As a result, the Company is exposed to foreign currency exchange risk as its revenues and results of operations may be affected by fluctuations in the exchange rate between USD and NTD. If NTD depreciates against USD, the value of NTD revenues and assets as expressed in USD financial statements will decline. The Company does not hold any derivative or other financial instruments that exposes us to substantial market risk. NTD is not a freely convertible currency. The Central Bank of the Republic of China, under the authority of Taiwan government, controls the conversion of NTD to foreign currencies. There are restrictions and limits on the conversion of NTD to other currencies, especially for capital account transactions. Individuals and businesses face conversion quotas and approvals required from the authorities. Segment Reporting The Company complies with ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses among other disclosure requirements. The Company adopted ASU 2023-07 on February 6, 2024 (inception).ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s chief operating decision maker (the “CODM”)， which is comprised of the Company’s Chief Executive Officer and Chief Financial Officer, reviews financial information including net revenues, gross profit and total operating expenses, etc. presented on a consolidated basis for purposes of managing the business, allocating resources, making operating decisions and assessing financial performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company. See Note 22 for details. Management determined that the Company’s operations constitute a single reportable segment in accordance with ASC 280. YD Bio operates exclusively in three business and industry diverse operations: 1) sales of medical devices and other related products, 2) research and development in pancreatic cancer early detection services, and 3) research and development in the sales of contact lenses. All of YD Bio’s long-lived assets are mainly property, plant, and equipment located in ROC. Net sales to customers by geographic area are determined by reference to the physical product shipment delivery locations requested by the customers. For example, if the products are delivered to a customer in ROC, the sales are recorded as generated in ROC; if the customer directs us to ship its products to the United States, the sales are recorded as sold in the United States. Reclassification Prior period amounts have been reclassified to conform to the current period’s presentation. The reclassifications had no impact on previously reported net income or shareholders’ equity. Recently Issued Accounting Standards On December 14, 2023, the FASB issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU focuses on income tax disclosures around effective tax rates and cash income taxes paid. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024 (generally, calendar year 2025) and effective for all other business entities one year later. Entities should adopt this guidance on a prospective basis, though retrospective application is permitted. The Company adopted ASU 2023-09 on January 1, 2025 and the adoption did not have a material impact to the consolidated financial statements and disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires a public entity to disclose additional information about specific expense categories in the notes to the financial statements on an annual and interim basis. It is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. In January 2025, the FASB issued ASU 2025-01 to clarify that all public entities, including non-calendar year-end entities, should adopt the disclosure requirements of ASU 2024-03. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures, and do not expect the adoption will have a material impact on its financial statements and disclosures. In May 2025, the FASB issued ASU 2025-04, Compensation — Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share-Based Consideration Payable to a Customer. The amendments clarify the accounting for share-based consideration payable to a customer under Topic 718 and Topic 606. The amendments are effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2026. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures, and do not expect the adoption will have a material impact on its financial statements and disclosures. In July 2025, the FASB issued ASU 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments provide a practical expedient and, if applicable, an accounting policy election to simplify the measurement of credit losses for certain receivables and contract assets. The amendments are effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted in any interim or annual period in which financial statements have not yet been issued or made available for issuance. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures, and do not expect the adoption will have a material impact on its financial statements and disclosures. Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated balance sheets, consolidated statements of operations and comprehensive income (loss) and consolidated statements of cash flows.

Basis of PresentationThe financial statement of the Company is presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).

Emerging Growth Company StatusThe Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to avail itself of this exemption and, therefore, for new or revised accounting standards applicable to public companies, the Company will be subject to an extended transition period until those standards would otherwise apply to private companies.

Business combinationThe Company applies the provisions of ASC 805, Business Combinations, in accounting for its acquisitions. To determine whether transactions should be accounted for as asset acquisition or business combination, the Company evaluates whether substantially all of the fair value of gross assets included in a transaction is concentrated in a single asset (or a group of similar assets), resulting in an asset acquisition; if that is not the case, the resulting accounting is as a business combination. In an asset acquisition, the cost of acquiring the asset group, including transaction costs, is allocated to the acquired assets or assumed liabilities based on their relative fair values without giving rise to goodwill. In a business combination, the Company recognizes separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to its consolidated statements of operations.The Business Combination was accounted for as a “reverse recapitalization” in accordance with accounting principles generally accepted in GAAP. Under this method of accounting, Breeze was treated as the “acquired” company for financial reporting purposes. YD Biopharma was determined to be the accounting acquirer since YD Biopharma’s shareholders prior to the Business Combination had the greatest voting interest in the combined entity, YD Biopharma comprised the ongoing operations, had the go-forward senior management, and the YD Biopharma shareholders were to control the board of directors and have a majority of the voting power of YD Bio. Accordingly, for accounting purposes, the financial statements after the closing of the Business Combination represent a continuation of the financial statements of YD Biopharma, with the Business Combination treated as the equivalent of issuing shares for the net assets of Breeze, accompanied by a recapitalization. The net assets of Breeze are stated at historical cost, with no goodwill or other intangible assets recorded.

Principles of consolidation The financial statements include the financial statements of the Company and its subsidiaries, see Note 1.

Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Significant accounting estimates reflected in the consolidated financial statements included revenue recognition, provision for expected credit losses of accounts receivable, prepayment and other receivables, long-term investment impairment assessment, inventories impairment assessment, property, plant and equipment impairment assessment, intangible assets impairment assessment, the valuation allowance for deferred tax assets, right-of-use (“ROU”) assets and operating lease liabilities. Accordingly, the actual results could differ significantly from those estimates.

Risk and uncertaintiesGenerally, the industry in which the Company operates subjects the Company to a number of risks and uncertainties that can affect its operating results and financial condition. Such factors include, but are not limited to: the timing, costs and results of clinical trials and other development activities versus expectations; the ability to manufacture products successfully; competition from products sold or being developed by other companies; the price of, and demand for products once approved; the ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products.

Fair Value of Financial InstrumentsThe Company has adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements, which defines fair value, establishes a framework for measuring fair value in U.S. GAAP, and expands disclosures about fair value measurements. ASC 820 establishes a three-level valuation hierarchy of valuation techniques based on observable and unobservable input, which may be used to measure fair value and include the following:<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 62px">Level 1 —</td> <td style="text-align: justify">Quoted prices in active markets for identical assets or liabilities.</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 62px">Level 2 —</td> <td style="text-align: justify">Input other than Level 1 that is observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other input that is observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 62px">Level 3 —</td> <td style="text-align: justify">Unobservable input that is supported by little or no market activity and that is significant to the fair value of the assets or liabilities.</td></tr> </table>Our cash and cash equivalents are classified within level 1 of the fair value hierarchy because they are valued using quoted market price.The carrying amounts of the other financial assets and liabilities, which consist of accounts receivable, other current assets, accounts payable and other liabilities, amount due to a shareholder and amount due to an affiliate, approximate their fair values due to the short-term nature of these instruments.

Cash and cash equivalentsCash and cash equivalents included cash on hand placed with banks or other financial institutions, which are unrestricted as to withdrawal and use and with an original maturity of three months or less. Cash equivalents are short-term, highly liquid investments that are readily convertible into cash with an original maturity of three months or less, at the date acquired. The Company’s balance of cash and cash equivalents was $6.0 million and $3.1 million as of December 31, 2025 and 2024 respectively. Deposits in banks in Taiwan are only insured by Central Deposit Insurance Corporation, a government agency, up to NTD 3 million (US$94,000); Deposit in banks in the USA are only insured by Federal Deposit Insurance Corporation up to $250,000 and are consequently exposed to risk of loss. The Company believes the probability of a bank failure causing loss to the Company is remote.

6000000

3100000

3000000

94000

250000

Receivable and AllowanceThe Company has adopted ASC 326, Financial Instruments — Credit Losses, which requires an impairment model that is based on current expected loss.The Company’s accounts receivable and other current assets are within the scope of ASC 326. Accounts receivable and amount due from an affiliate are recognized and carried at the original invoice amounts less the expected credit loss. The Company has a policy of reserving for uncollectible accounts based on best estimate of the amount of probable expected credit losses in the existing accounts receivable. The Company performs ongoing credit evaluations of its customers and maintains an allowance for potential bad debts if required. Other current assets are recognized and carried at the initial amount when occurred less an allowance for any uncollectible amount. To estimate expected credit losses, the Company has identified the relevant risk characteristics of its counterparty and the related receivables, amount due from an affiliate and other current assets which include size, type of the services or the products the Company provides, or a combination of these characteristics. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Company considers the past collection experience, current economic conditions, future economic conditions (external data and macroeconomic factors) and changes in the Company’s customer collection trends. Other key factors that influence the expected credit loss analysis include customer demographics, payment terms offered in the normal course of business to customers, and industry-specific factors that could impact the Company’s receivables. Additionally, external data and macroeconomic factors are also considered. This is assessed annually based on the Company’s specific facts and circumstances. There has been no significant impact of changes in the assumptions since adoption. The Company has assessed its receivable and amount due from an affiliate including credit term and corresponding receivables as of December 31, 2025 and 2024. Based upon such credit terms, the Company recorded bad debt expenses of $3,403, $493 in recoveries, and $2,731 for the years ended December 31, 2025, 2024 and 2023, respectively. The Company recognized $6,598 and $3,055 expected credit loss provision for account receivables and other current assets as of December 31, 2025, and 2024, respectively.

3403

-493

2731

6598

3055

InventoriesInventories are stated at the lower of cost and net realizable value, with cost determined by the weighted average method. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Write-down of potential obsolete or slow-moving inventories is recorded as cost of revenue based on management’s assumptions about future demands and market conditions. No write-down is recorded for inventories for the year ended December 31, 2025, and 2024.

Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses, if any. Depreciation is computed on a straight-line basis with no salvage value over the estimated useful lives of 3 to 5 years for equipment, fixtures and furniture.The cost and accumulated depreciation of property, plant and equipment disposed of or sold are removed from the balance sheets and the resulting gains and losses are recognized in the statements of operations.

P3Y

P5Y

Intangible assets Intangible assets are stated in the balance sheet at cost less accumulated amortization and impairment, if any. The costs of the intangible assets are amortized on straight-line basis over their estimated useful lives. The Company had two licensed patents as of December 31, 2025, (i) one licensed patent involves the formula and technology of cell culture process, technology of cell bank construction, exosome purification, authentication technology, and exosome production which are derived from the methods of culturing human corneal limbus cells and the relevant know-how (the “3D Global Patent”) and (ii) the other licensed patent involves Methylation analysis technology for application in pancreatic cancer and the relevant know-how (the “EG BioMed Patent”).The respective amortization periods for the intangible assets are as follows:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: justify">3D Global Patent (note 8)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">15 years</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">EG BioMed Patent (note 8)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">15 years</td><td style="text-align: left"> </td></tr> </table>

The respective amortization periods for the intangible assets are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: justify">3D Global Patent (note 8)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">15 years</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">EG BioMed Patent (note 8)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">15 years</td><td style="text-align: left"> </td></tr> </table>

P15Y

Impairment of Long-Lived AssetsIn accordance with the ASC 360-10, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets, such as property, plant and equipment, leased assets and purchased intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable, or it is reasonably possible that these assets could become impaired as a result of technological or other industrial changes. The determination of recoverability of assets to be held and used is made by comparing the carrying amount of an asset to future undiscounted cash flows to be generated by the assets.If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. There was no impairment of long-lived assets recorded for the year ended December 31, 2025, and 2024.

LeaseThe Company accounts for leases in accordance with ASC 842, Leases, which requires lessees to recognize leases on the balance sheet and disclose key information about leasing arrangements. For the leases with a term within 12 months, the Company has elected the short-term lease recognition exemption and therefore does not recognize right-of-use (ROU) assets or lease liabilities for these leases.The Company determines if a contract contains a lease based on whether it has the right to obtain substantially all of the economic benefits from the use of an identified asset which the Company does not own and whether it has the right to direct the use of an identified asset in exchange for consideration. Leased assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The right-of-use asset is initially measured as the amount of the lease liability, plus any lease payments made at or before the commencement date, plus any initial direct costs incurred by the lessee, minus any lease incentives received.Lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate (“IBR”), because the interest rate implicit in most of the Company’s leases is not readily determinable.The IBR is a hypothetical rate based on the Company’s understanding of what its credit rating would be to borrow and the resulting interest the Company would pay to borrow an amount equal to the lease payments in a similar economic environment over the lease term on a collateralized basis. Lease payments may be fixed or variable, however, only fixed payments or in-substance fixed payments are included in the Company’s lease liability calculation.Variable lease payments are recognized in operating expenses in the period in which the obligation for those payments is incurred. The Company recognized no impairment of leased assets for the year ended December 31, 2025, and 2024.

Warrant LiabilitiesThe Company accounts for the Public Warrants and Private Placement Warrants (collectively, “Warrants”, see Note 14 issued in connection with the merger transaction in accordance with ASC 815-40, “Derivatives and Hedging — Contracts in Entity’s Own Equity”. Such guidance provides that because the warrants do not meet the criteria for equity treatment thereunder, each warrant must be classified as a liability. Accordingly, the Company classifies each warrant as a liability at its fair value. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability is adjusted to fair value, with the change in fair value recognized in the Company’s consolidated statements of operations.

Statutory reserve Pursuant to the laws applicable to Taiwan, Taiwanese entities must make appropriations from after-tax profit to the non-distributable “statutory reserve”. Subject to certain cumulative limits, the “statutory reserve” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 100% of the authorized capital (as determined under accounting principles generally accepted in Taiwan (“Taiwan GAAP”) at each year end). Since the YD Bio’s subsidiary in Taiwan has accumulated deficit under Taiwan GAAP during the reporting period, it is not required to make appropriations to the statutory reserve. 0.10 1

Revenue RecognitionThe Company recognizes revenue when a customer obtains control of promised goods or receives services provided in an amount that reflects the consideration which the Company expects to receive in exchange for those goods and services. To determine revenue recognition for the arrangements that the Company determines are within the scope of ASC 606, Revenue from Contracts with Customers, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation.The Company’s revenue from contracts with customers is derived from product revenue principally from the sales of products directly to its customers and presents revenue net of VAT.Product revenue recognition — point of timeThe performance obligations are considered to be met, and revenue is recognized when the customer obtains control of the goods. Revenue is recognized at that point in time. The customers pick up the goods directly from the Company’s premises, and the Company has satisfied the contracts’ performance obligations when the goods have been picked up, and the acceptance document has been signed by the customers. The Company does not offer sales rebates to its customers. Any discount will be net of the revenue at that point in time. The Company does not provide its customers with the right of return (except for product quality issues). The customer is required to perform a product quality check immediately upon delivery of the products and report to the Company within a few days if there is a quality issue.

Cost of revenue Cost of revenue consists primarily of purchased costs of products for resales, the material costs and subcontracting costs of manufactured products which are directly attributable to the manufacturing of products and other costs directly related to the rendering of services performed.

Research and developmentResearch and development costs are expensed as incurred in accordance with ASC 730, Research and Development. The Company incurs research and development costs in the pursuit of new products and improving the formulation of existing products.

Shipping and handling expensesThe Company expenses shipping and handling expenses as incurred. The Company recorded $16,619, $18,436 and $12,753 of shipping and handling expenses for the years ended December 31, 2025, 2024 and 2023, respectively. 16619 18436 12753 Other income, net The Company has entered into subleasing arrangements with two drug stores in Taiwan to lease part of the leased premises to them for the year ended December 31, 2024 and 2023. For the year ended December 31, 2025 and 2024, the Company also entered into leasing arrangements with corporate customers to lease equipment. The Company receives income from operating leases based on the fixed required rents (base rent) per the lease agreements. Rent revenue from base rents is recorded on the straight-line method, when collectability of the lease payments is deemed probable, over the terms of the related lease agreements. Operating lease revenue, as recorded on the straight-line method, in the consolidated statements of operation is recorded as other revenue. The Company recognized $2,080 and $24,533 of income from the subleasing arrangements with the drug stores for the years ended December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, YD Biopharma ceased the only subleasing arrangements with a drug store. The Company recognized $72,703 income from the leasing of equipment to other corporate customers for the year ended December 31, 2025, and recognized $40,382 of income from the subleasing arrangement with a drug store and the leasing of equipment to other corporate customers for the year ended December 31, 2024.

2080

24533

72703

40382

Contract liabilitiesThe Company’s contract liabilities consist of deferred revenue associated with the lease arrangements for leasing certain property and equipment to its customers over time and sales of goods. Deferred revenue represents amounts received or invoiced in advance of delivering goods or rendering services. These amounts are recognized as revenue when the performance obligations under the contracts are fulfilled. The table below presents the activity of the deferred revenue from the lease for the year ended December 31, 2025, and 2024, respectively:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Balance at beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">27,568</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advances received from customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,289</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Revenue recognized</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(72,703</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,089</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Exchange realignment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,264</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(632</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Balance at end of period</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">30,153</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">27,568</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

The table below presents the activity of the deferred revenue from the lease for the year ended December 31, 2025, and 2024, respectively:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Balance at beginning of period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">27,568</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advances received from customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,289</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Revenue recognized</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(72,703</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,089</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Exchange realignment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,264</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(632</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Balance at end of period</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">30,153</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">27,568</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

27568

74024

61289

-72703

-33089

1264 -632

30153

27568

Income TaxesIncome taxes are accounted for under the asset and liability method in accordance with ASC 740, Income Taxes. Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns.Deferred tax assets and liabilities are determined based on the temporary difference between the financial reporting and tax bases of assets and liabilities, and net operating loss and tax credit carryforwards using enacted tax rates that will be in effect for the period in which the differences are expected to reverse. The Company records a valuation allowance against the amount of deferred tax assets that it determines is not more likely than not of being realized. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date.The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits and penalties, if any, within income tax expenses.

0.50

Retirement and other post-retirement benefitsContributions to retirement accounts which are defined contribution plans are expensed in the statement of operations as and when the related employee service is provided.Full time employees of the Company in Taiwan participate in a government mandated defined contribution plan, pursuant to which certain pension benefits and medical care benefits are provided to employees. Taiwanese labor regulations require that the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the government. The Company has no legal obligation for the benefits beyond the contributions made. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $8,408, $3,907 and $2,036 for the years ended December 31, 2025, 2024 and 2023, respectively.

8408

3907

2036

Translation of foreign currency financial statementsThe functional currency of YD Bio, YD Biopharma and YD USA is USD. The functional currency of Yong Ding is NTD, the local currency where it operates. The reporting currency of the Company is USD. Accordingly, the financial statements of Yong Ding are translated at the following exchange rates: assets and liabilities — current rate on balance sheet date; shareholders’ equity — historical rate; income and expenses — average rate during the period. The resulting translation adjustment is reflected in the accumulated other comprehensive income (loss).Transactions denominated in currencies other than the functional currencies are recorded at the rate of exchange in effect when the transaction occurs. Gains or losses, resulting from the application of different foreign exchange rates when cash in the foreign currency is converted into the entities’ functional currency, or when foreign currency receivable and payable are settled, are credited or charged to income in the period of conversion or settlement. At period-end, the balances of foreign currency monetary assets and liabilities are recorded based on prevailing exchange rates and any resulting gains or losses are included in the consolidated statements of comprehensive income (loss).Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rates prevailing on the transaction dates. The transaction date is the date on which the Company initially recognizes such non-monetary assets and liabilities. Non-monetary assets and liabilities that are stated at fair value are translated using the exchange rates prevailing at the dates the fair value is measured. The resulting exchange differences are recognized in accumulated other comprehensive income (loss).Translation of amounts from NTD into US$ has been made at the following exchange rates for the respective years:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Period-end NTD: US$1 exchange rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31.34</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">32.77</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">30.73</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Period average NTD: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32.04</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.08</td><td style="text-align: left"> </td></tr> </table>

Translation of amounts from NTD into US$ has been made at the following exchange rates for the respective years: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Period-end NTD: US$1 exchange rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31.34</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">32.77</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">30.73</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Period average NTD: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32.04</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.08</td><td style="text-align: left"> </td></tr> </table>

31.34

32.77

30.73

31.35

32.04

31.08

Comprehensive (loss) incomeComprehensive (loss) income represents net (loss) income plus the results of certain changes in shareholders’ equity (deficit) during a period from non-owner sources.Comprehensive (loss) income is defined as the changes in equity of the Company during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220, Comprehensive Income, requires that all items that are required to be recognized under current accounting standards as components of comprehensive loss be reported in a financial statement that is displayed with the same prominence as other financial statements. For each of the periods presented, the Company’s comprehensive (loss) income includes net (loss) income and foreign currency translation adjustments, which are presented in the consolidated statements of comprehensive loss.

Net (Loss) Income per ShareThe Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Basic (loss) income per share is calculated by dividing the net (loss) income by the weighted-average number of Ordinary Shares outstanding during the period. Diluted loss per share is calculated by dividing the loss by the weighted-average number of Ordinary Shares and potentially dilutive securities outstanding during the period. Potentially dilutive Ordinary Shares consist of shares issuable upon the conversion of warrants. The dilutive effect of outstanding shares is reflected in diluted earnings per share by application of the treasury stock method, or the if-converted method. The outstanding Public Warrants and Private Placement Warrants were 11,437,420 and 3,705,491 as of December 31, 2025, all of which were excluded from diluted EPS due to their anti-dilutive effect. There were no outstanding warrants as of December 31, 2024 and 2023.

11437420

3705491

Concentration of risksConcentration of suppliersThe following suppliers accounted for 10% or more of purchase for the year ended December 31, 2025, and 2024.For the year ended December 31, 2025, approximately 83.7% of the Company’s purchase was from Supplier D, a company that the Company’s CEO holds 12.85%.<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">D</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">83.7</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>E</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>F</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>G</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.4</td><td style="text-align: left">%</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of purchase for the year ended December 31, 2025, and 2024.</td></tr> </table>Account payable to suppliers that individually comprised 10% or more of accounts payable balances as of December 31, 2025, and 2024 are as follows:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">D</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">89.5</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49.5</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.7</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.3</td><td style="text-align: left">%</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of accounts payable balances as of December 31, 2025, and 2024.</td></tr> </table>Concentration of customersThe following customers accounted for 10% or more of sales for the year ended December 31, 2025, and 2024:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Customer</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-indent: -10pt; padding-left: 10pt">A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">*</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31.9</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt">C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of revenue for the year ended December 31, 2025, and 2024, respectively.</td></tr> </table>Account receivables, net from customers that individually comprised 10% or more of accounts receivable, net balances as of December 31, 2025, and 2024 are as follows:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Customer</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">B</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">30.5</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">49.4</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>E</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.4</td><td style="text-align: left">%</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of accounts receivable balances as of December 31, 2025, and 2024, respectively.</td></tr> </table>Concentration of credit riskFinancial instruments that potentially expose the Company to the concentration of credit risk consist primarily of cash and cash equivalents, accounts receivable and other current assets. The Company places its cash and cash equivalents with financial institutions with credit ratings and quality where the Company considers acceptable.The risks with respect to accounts receivable are mitigated by credit evaluations performed on the debtors and ongoing monitoring of outstanding balances.Foreign currency exchange riskThe reporting currency of the Company is USD. To date the majority of the revenues and costs are denominated in NTD and a significant portion of the assets and liabilities are denominated in NTD. As a result, the Company is exposed to foreign currency exchange risk as its revenues and results of operations may be affected by fluctuations in the exchange rate between USD and NTD. If NTD depreciates against USD, the value of NTD revenues and assets as expressed in USD financial statements will decline. The Company does not hold any derivative or other financial instruments that exposes us to substantial market risk.NTD is not a freely convertible currency. The Central Bank of the Republic of China, under the authority of Taiwan government, controls the conversion of NTD to foreign currencies. There are restrictions and limits on the conversion of NTD to other currencies, especially for capital account transactions. Individuals and businesses face conversion quotas and approvals required from the authorities.

For the year ended December 31, 2025, approximately 83.7% of the Company’s purchase was from Supplier D, a company that the Company’s CEO holds 12.85%. <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">D</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">83.7</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>E</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>F</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>G</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.4</td><td style="text-align: left">%</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of purchase for the year ended December 31, 2025, and 2024.</td></tr> </table> Account payable to suppliers that individually comprised 10% or more of accounts payable balances as of December 31, 2025, and 2024 are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">D</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">89.5</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49.5</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.7</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.3</td><td style="text-align: left">%</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of accounts payable balances as of December 31, 2025, and 2024.</td></tr> </table>The following customers accounted for 10% or more of sales for the year ended December 31, 2025, and 2024: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Customer</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-indent: -10pt; padding-left: 10pt">A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">*</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31.9</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">31</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -10pt; padding-left: 10pt">C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13.4</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of revenue for the year ended December 31, 2025, and 2024, respectively.</td></tr> </table> Account receivables, net from customers that individually comprised 10% or more of accounts receivable, net balances as of December 31, 2025, and 2024 are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Customer</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">B</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">30.5</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">49.4</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22.8</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>A</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.6</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>E</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">*</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.4</td><td style="text-align: left">%</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in">*</td> <td style="text-align: justify">Represents less than 10% of accounts receivable balances as of December 31, 2025, and 2024, respectively.</td></tr> </table>

0.837

0.1285

0.837

0.375

0.116

0.224

0.132

0.124

0.895

0.495

0.137

0.103

0.319

0.31

0.317

0.228

0.40

0.134

0.305

0.494

0.16

0.228

0.156

0.154

Segment ReportingThe Company complies with ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses among other disclosure requirements. The Company adopted ASU 2023-07 on February 6, 2024 (inception).ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s chief operating decision maker (the “CODM”)， which is comprised of the Company’s Chief Executive Officer and Chief Financial Officer, reviews financial information including net revenues, gross profit and total operating expenses, etc. presented on a consolidated basis for purposes of managing the business, allocating resources, making operating decisions and assessing financial performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company. See Note 22 for details.Management determined that the Company’s operations constitute a single reportable segment in accordance with ASC 280. YD Bio operates exclusively in three business and industry diverse operations: 1) sales of medical devices and other related products, 2) research and development in pancreatic cancer early detection services, and 3) research and development in the sales of contact lenses.All of YD Bio’s long-lived assets are mainly property, plant, and equipment located in ROC.Net sales to customers by geographic area are determined by reference to the physical product shipment delivery locations requested by the customers. For example, if the products are delivered to a customer in ROC, the sales are recorded as generated in ROC; if the customer directs us to ship its products to the United States, the sales are recorded as sold in the United States.

ReclassificationPrior period amounts have been reclassified to conform to the current period’s presentation. The reclassifications had no impact on previously reported net income or shareholders’ equity.

Recently Issued Accounting StandardsOn December 14, 2023, the FASB issued Accounting Standards Update (ASU) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU focuses on income tax disclosures around effective tax rates and cash income taxes paid. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024 (generally, calendar year 2025) and effective for all other business entities one year later. Entities should adopt this guidance on a prospective basis, though retrospective application is permitted. The Company adopted ASU 2023-09 on January 1, 2025 and the adoption did not have a material impact to the consolidated financial statements and disclosures.In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires a public entity to disclose additional information about specific expense categories in the notes to the financial statements on an annual and interim basis. It is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. In January 2025, the FASB issued ASU 2025-01 to clarify that all public entities, including non-calendar year-end entities, should adopt the disclosure requirements of ASU 2024-03. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures, and do not expect the adoption will have a material impact on its financial statements and disclosures.In May 2025, the FASB issued ASU 2025-04, Compensation — Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share-Based Consideration Payable to a Customer. The amendments clarify the accounting for share-based consideration payable to a customer under Topic 718 and Topic 606. The amendments are effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2026. Early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures, and do not expect the adoption will have a material impact on its financial statements and disclosures.In July 2025, the FASB issued ASU 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments provide a practical expedient and, if applicable, an accounting policy election to simplify the measurement of credit losses for certain receivables and contract assets. The amendments are effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted in any interim or annual period in which financial statements have not yet been issued or made available for issuance. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures, and do not expect the adoption will have a material impact on its financial statements and disclosures.Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated balance sheets, consolidated statements of operations and comprehensive income (loss) and consolidated statements of cash flows.

4. ACCOUNTS RECEIVABLE Accounts receivable, net consist of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Accounts receivable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">174,075</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">89,637</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Less: allowance for expected credit losses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,598</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,055</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total accounts receivable, net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">167,477</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">86,582</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Details of the changes of the expected credit loss provision are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Beginning of the period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,055</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,769</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,015</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Provision (reversal) for the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(493</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,731</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Foreign exchange realignment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">140</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(221</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt">End of the period</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,598</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,055</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,769</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> As of December 31, 2025 and 2024, the majority of accounts receivable is due to corporate customers with long-term relationships. The Company recognized the impairment of expected credit loss for accounts receivable of $3,403, $493 in recoveries and $2,731 for the years ended December 31, 2025, 2024 and 2023.

Accounts receivable, net consist of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Accounts receivable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">174,075</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">89,637</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Less: allowance for expected credit losses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,598</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,055</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total accounts receivable, net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">167,477</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">86,582</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

174075

89637

6598

3055

167477

86582

Details of the changes of the expected credit loss provision are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Beginning of the period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,055</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,769</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,015</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Provision (reversal) for the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(493</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,731</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Foreign exchange realignment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">140</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(221</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt">End of the period</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,598</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,055</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">3,769</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

3055

3769

1015

3403

-493

2731

140 -221 23

6598

3055

3769

3403

-493

2731

5. INVENTORIES Inventories, net consist of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt">Finished goods</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,879,542</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">37,335</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table> The Company had no write-down of inventories for the year ended December 31, 2025, 2024 and 2023.

Inventories, net consist of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 4pt">Finished goods</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">1,879,542</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">37,335</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> </table>

1879542

37335

6. PREPAID EXPENSES AND OTHER CURRENT ASSETS The amount of prepaid expenses and other current assets consist of the followings: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2024</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%">Prepaid expenses</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">1,027,625</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">30,260</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Value added tax credit</td> <td> </td> <td> </td> <td style="text-align: right">253,246</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">159,287</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Others</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">43,145</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">5,193</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total</td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">1,324,016</td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">194,740</td> <td> </td></tr> </table> The Company did not record any expected credit loss provision for other current assets for the year ended December 31, 2025 and 2024.

The amount of prepaid expenses and other current assets consist of the followings: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2024</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%">Prepaid expenses</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">1,027,625</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">30,260</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Value added tax credit</td> <td> </td> <td> </td> <td style="text-align: right">253,246</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">159,287</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Others</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">43,145</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">5,193</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total</td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">1,324,016</td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">194,740</td> <td> </td></tr> </table>

1027625

30260

253246

159287

43145

5193

1324016

194740

7. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment consist of the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2024</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%">Equipment, fixtures and furniture</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">87,916</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">81,810</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Less: accumulated depreciation</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(28,576</td> <td>)</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(17,431</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total</td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">59,340</td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">64,379</td> <td> </td></tr> </table> Depreciation expenses included in general and administration expenses for the year ended December 31, 2025, 2024 and 2023 were $16,246, $10,199 and $2,452 respectively. During the year ended December 31, 2025 and 2023, the Company disposed some equipment, fixtures and furniture and the loss of disposal was $109 and $466 and no disposal of assets occurred for the year ended December 31, 2024. There were no impairments recognized during the year ended December 31, 2025, 2024 and 2023.

Property, plant and equipment consist of the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2024</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%">Equipment, fixtures and furniture</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">87,916</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">81,810</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Less: accumulated depreciation</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(28,576</td> <td>)</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(17,431</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Total</td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">59,340</td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">64,379</td> <td> </td></tr> </table>

87916

81810

28576

17431

59340

64379

16246

10199

2452

-109

-466

8. INTANGIBLE ASSETS On June 19, 2024, the Company entered into an exclusive licensed patent and know-how agreement and a supplementary agreement dated on June 28, 2024, with 3D Global Biotech Inc. (“3D Global”), a company registered in Taiwan and listed on the Taipei Stock Exchange, to acquire a global exclusive licensed patent and know-how. The Company’s CEO owns approximately 14.97% of the common shares of 3D Global. The licensed patent involves the formula and technology of cell culture process, technology of cell bank construction, exosome purification, authentication technology, and exosome production which are derived from the methods of culturing human corneal limbus cells and the relevant know-how (the “3D Global Patent”). The licensed period of the 3D Global Patent is 20 years after all the relevant products are launched. In addition, the Company is obligated to pay a royalty fee of 10% of the sales of the products for 15 years on a quarterly basis and the Company is allowed to sub-license the 3D Global Patent to other third-party customers. The 3D Global Patent and know-how enables YD Biopharma to form and produce the major ingredient of its contact lens solutions and helped commence the contact lens business. The Company expects the useful life of the 3D Global Patent for the contact lens business to be 15 years. The total consideration for 3D Global Patent is $5,000,000 including VAT or $4,761,905 net of VAT. In June 2024, the Company paid $1,000,000 including VAT or $952,381 net of VAT to 3D Global for the patent, formula and know-how of the technology, which is not for use in particular research and development projects and have alternative future use. It enables the Company to provide future economic benefits from the commercial production of its contact lens business and to generate income. The total research and development costs of $1,970,000 has been charged from 3D Global for the first through third stage of Development of LSC Cell Source, the first through second stage of Establishment of LSC Master Cell Banks and the first stage of Cell Stability Examination of LSC and the Company has paid $1,550,000 of the above amount up to December 31, 2025. As of December 31, 2025，there is no activities in progress related to the stage 3.2 to stage 5 stated in the following milestone table. The Company will pay the remaining amounts to 3D Global for further research and development of this technology and expand the application to a variety of new eye-related drugs and products when certain conditions and milestones are satisfied and completed by 3D Global. According to the 3D Global License Agreement, YD Bio is obligated to pay the following amounts in accordance with the following milestones: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Item</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Milestones</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Milestone License Fees (USD)</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="font-weight: bold; font-style: italic">1. Development of corneal Limbal Stem Cell (“LSC”) Cell Source</td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 4%; text-align: right">1</td><td style="width: 1%"> </td> <td style="width: 81%; text-align: left"> Application with Medical Center for Clinical Specimens Collection</td><td style="width: 1%"> </td> <td style="width: 13%; text-align: right">480,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> SOP Document for Technique of Separating LSC Specimens</td><td> </td> <td style="text-align: right">230,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">3</td><td> </td> <td style="text-align: left"> LSC Cell Analysis/Assessment Report</td><td> </td> <td style="text-align: right">330,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td colspan="3" style="font-weight: bold; font-style: italic; text-align: left">2. Establishment of LSC Master Cell Banks</td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">1</td><td> </td> <td style="text-align: left"> SOP Document for LSC Amplification</td><td> </td> <td style="text-align: right">230,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> SOP Document for LSC Cryopreservation</td><td> </td> <td style="text-align: right">280,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td colspan="3" style="font-weight: bold; font-style: italic; text-align: left">3. Cell Stability Examination of LSC</td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">1</td><td> </td> <td style="text-align: left"> Stability Examination Report of Master cell</td><td> </td> <td style="text-align: right">420,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> Stability Examination Report of Working cell</td><td> </td> <td style="text-align: right">420,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td colspan="3" style="font-weight: bold; font-style: italic; text-align: left">4. Raw Material Development of LSC Exosomes</td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">1</td><td> </td> <td style="text-align: left"> SOP Document of Exosomes Purification Process</td><td> </td> <td style="text-align: right">230,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> Specification Analysis/Examination Report of Exosomes Characterization</td><td> </td> <td style="text-align: right">200,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">3</td><td> </td> <td style="text-align: left"> SOP Document of Mass Production Process of Exosomes Raw Material</td><td> </td> <td style="text-align: right">370,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">4</td><td> </td> <td style="text-align: left"> Three Batches of Trial Production Document of Exosomes Raw Material</td><td> </td> <td style="text-align: right">300,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">5</td><td> </td> <td style="text-align: left"> Safety Verification Report (animal testing) of Exosomes Raw Material</td><td> </td> <td style="text-align: right">310,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td colspan="3" style="font-weight: bold; font-style: italic; text-align: left">5. LensMate Eye Buffer LensMate</td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">1</td><td> </td> <td style="text-align: left"> Product Consignment Development Agreement</td><td> </td> <td style="text-align: right">100,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> U.S. Food and Drug Administration (“FDA”) Approval for Type I Medical Material Certification</td><td> </td> <td style="text-align: right">80,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">3</td><td> </td> <td style="text-align: left"> Sale Certification of US OTC</td><td> </td> <td style="text-align: right">20,000</td></tr> </table>On June 25, 2024, the Company entered into an exclusive licensed patent and know-how agreement with EG BioMed Co., Ltd. (“EG BioMed”), a Taiwan registered company, to acquire the licensed patent of Methylation analysis technology for application in pancreatic cancer and the relevant know-how (the “EG BioMed Patent”). The Company’s CEO is a director and owned 46.16% on the date of the transaction. The Company’s CEO owns 45.3% equity interest as of December 31, 2025, and as of the date hereof. The Company is allowed to use the licensed patent and know-how in the United States for manufacturing, offering for sale, selling, using, or importing the product and providing detection services for the aforementioned purposes. The licensed period of the EG BioMed Patent is initially 10 years and automatically renews for an additional 5 years unless both parties agree not to renew, thus the useful life of the EG BioMed Patent is 15 years. The consideration for the EG BioMed Patent is NTD 60,000,000 (USD 1,830,000), and the Company is obligated to pay a royalty of 7% of the sales of the services generated from EG BioMed Patent to EG BioMed on quarterly basis. The EG BioMed Patent and know-how enabled the Company to commence its pancreatic cancer early detection service business for income generation. In addition, the potential royalties due to 3D Global and EG BioMed are calculated based on 7% to 10%, respectively, of the sales of products or provision of services derived from the licensed patents in future. Therefore, they are considered variable consideration and will be recognized as cost of revenue in the income statement in the period when the related revenue occurs. The royalty expenses incurred were $ 2,273 and nil for the year ended December 31, 2025 and 2024, respectively. Intangible assets consist of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Licensed to Patents and Know-how</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 9pt">3D Global Patent</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">985,710</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">942,450</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 9pt">EG BioMed Patent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,914,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,830,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(289,971</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(92,415</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,609,739</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,680,035</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Amortization expense included in general and administration expenses for the year ended December 31, 2025, 2024 and 2023 was $ 193,314, $94,536 and nil, respectively. The estimated amortization is as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Estimated amortization expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: justify">For the year ended December 31, 2026</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">193,314</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">For the year ended December 31, 2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">For the year ended December 31, 2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">For the year ended December 31, 2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">For the year ended December 31, 2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,643,169</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,609,739</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

0.1497

P20Y 0.10

P15Y

5000000 4761905 1000000 952381

1970000

1550000

According to the 3D Global License Agreement, YD Bio is obligated to pay the following amounts in accordance with the following milestones: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Item</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Milestones</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Milestone License Fees (USD)</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="font-weight: bold; font-style: italic">1. Development of corneal Limbal Stem Cell (“LSC”) Cell Source</td><td> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 4%; text-align: right">1</td><td style="width: 1%"> </td> <td style="width: 81%; text-align: left"> Application with Medical Center for Clinical Specimens Collection</td><td style="width: 1%"> </td> <td style="width: 13%; text-align: right">480,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> SOP Document for Technique of Separating LSC Specimens</td><td> </td> <td style="text-align: right">230,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">3</td><td> </td> <td style="text-align: left"> LSC Cell Analysis/Assessment Report</td><td> </td> <td style="text-align: right">330,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td colspan="3" style="font-weight: bold; font-style: italic; text-align: left">2. Establishment of LSC Master Cell Banks</td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">1</td><td> </td> <td style="text-align: left"> SOP Document for LSC Amplification</td><td> </td> <td style="text-align: right">230,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> SOP Document for LSC Cryopreservation</td><td> </td> <td style="text-align: right">280,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td colspan="3" style="font-weight: bold; font-style: italic; text-align: left">3. Cell Stability Examination of LSC</td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">1</td><td> </td> <td style="text-align: left"> Stability Examination Report of Master cell</td><td> </td> <td style="text-align: right">420,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> Stability Examination Report of Working cell</td><td> </td> <td style="text-align: right">420,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td colspan="3" style="font-weight: bold; font-style: italic; text-align: left">4. Raw Material Development of LSC Exosomes</td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">1</td><td> </td> <td style="text-align: left"> SOP Document of Exosomes Purification Process</td><td> </td> <td style="text-align: right">230,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> Specification Analysis/Examination Report of Exosomes Characterization</td><td> </td> <td style="text-align: right">200,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">3</td><td> </td> <td style="text-align: left"> SOP Document of Mass Production Process of Exosomes Raw Material</td><td> </td> <td style="text-align: right">370,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">4</td><td> </td> <td style="text-align: left"> Three Batches of Trial Production Document of Exosomes Raw Material</td><td> </td> <td style="text-align: right">300,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">5</td><td> </td> <td style="text-align: left"> Safety Verification Report (animal testing) of Exosomes Raw Material</td><td> </td> <td style="text-align: right">310,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td colspan="3" style="font-weight: bold; font-style: italic; text-align: left">5. LensMate Eye Buffer LensMate</td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">1</td><td> </td> <td style="text-align: left"> Product Consignment Development Agreement</td><td> </td> <td style="text-align: right">100,000</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: right">2</td><td> </td> <td style="text-align: left"> U.S. Food and Drug Administration (“FDA”) Approval for Type I Medical Material Certification</td><td> </td> <td style="text-align: right">80,000</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right">3</td><td> </td> <td style="text-align: left"> Sale Certification of US OTC</td><td> </td> <td style="text-align: right">20,000</td></tr> </table>

480000 230000 330000 230000 280000 420000 420000 230000 200000 370000 300000 310000 100000 80000 20000

0.4616

0.453

P10Y

P15Y

60000000

1830000

0.07 0.07 0.10

2273

Intangible assets consist of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left">Licensed to Patents and Know-how</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 9pt">3D Global Patent</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">985,710</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">942,450</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 9pt">EG BioMed Patent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,914,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,830,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(289,971</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(92,415</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,609,739</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,680,035</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

985710

942450

1914000

1830000

289971

92415

2609739

2680035

193314

94536

The estimated amortization is as follows:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Estimated amortization expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: justify">For the year ended December 31, 2026</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">193,314</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">For the year ended December 31, 2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">For the year ended December 31, 2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">For the year ended December 31, 2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">For the year ended December 31, 2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193,314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,643,169</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,609,739</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

193314

1643169

2609739

9. DEFERRED OFFERING COSTS Deferred offering costs represent legal, accounting, underwriting, and other direct costs incurred in connection with a planned equity or debt offering. These costs are deferred until the closing of the offering, at which time the deferred costs are offset against the offering proceeds. In the event the offering is unsuccessful or aborted, the costs will be expensed.

10. PREPAID EXPENSES, NON-CURRENT On September 17, 2025, Yong Ding Biopharm Co., Ltd (Subsidiary of YD Bio) entered into a pre-sale real estate contract for the purchase of office space and parking facilities located in Taipei City. As of December 31, 2025, $1.4 million was prepaid for the purchase.

1400000

11. LEASES The Company’s operating leases consist of leases for office space. The Company is the lessee under the terms of the operating leases. For the year ended December 31, 2025, 2024 and 2023, the operating lease cost was $20,471, $11,731 and $47,740, respectively. The Company’s operating leases have remaining lease terms of approximately 4 months as of December 31, 2025, and 16 months as of December 31, 2024, respectively. As of December 31, 2025, the weighted average remaining lease term and weighted average discount rate were 0.33 years and 4.22%, respectively. As of December 31, 2025 and 2024, the Company stated the following amounts in the Company’s consolidated balance sheets: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 1.5pt">Right-of-use assets</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">8,470</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">23,698</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,470</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23,698</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities, current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,764</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,581</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease liabilities, non-current</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,684</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,764</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">22,265</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Supplemental disclosure related to operating leases were as follows: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2024</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td>Cash paid for amounts included in the measurement of lease liabilities</td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%; padding-left: 9pt">Operating cash flows for operating leases</td> <td style="width: 1%"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid">$</td> <td style="width: 8%; border-bottom: black 1.5pt solid; text-align: right">20,471</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid">$</td> <td style="width: 8%; border-bottom: black 1.5pt solid; text-align: right">11,731</td> <td style="width: 1%"> </td></tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> </table> Maturities of lease liabilities were as follows: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">As of December 31, 2025</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Operating Lease</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%">For the year ended December 31, 2026</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">6,824</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Less: amounts representing interest</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(60</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Present Value of future minimum lease payments</td> <td> </td> <td> </td> <td style="text-align: right">6,764</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Less: Current obligations</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(6,764</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Long term obligations</td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">-</td> <td> </td></tr> </table> The Company also leased office and car park space under various short-term operating leases with the duration of less than 12 months in Taiwan. The short term leases cost was $13,036, $2,220 and nil for the year ended December 31, 2025, 2024 and 2023, respectively.

20471

11731

47740

P4M

P16M

P0Y3M29D

0.0422

As of December 31, 2025 and 2024, the Company stated the following amounts in the Company’s consolidated balance sheets: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 1.5pt">Right-of-use assets</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">8,470</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">23,698</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,470</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">23,698</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities, current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,764</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,581</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease liabilities, non-current</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,684</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,764</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">22,265</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Supplemental disclosure related to operating leases were as follows: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2024</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td>Cash paid for amounts included in the measurement of lease liabilities</td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%; padding-left: 9pt">Operating cash flows for operating leases</td> <td style="width: 1%"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid">$</td> <td style="width: 8%; border-bottom: black 1.5pt solid; text-align: right">20,471</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%; border-bottom: black 1.5pt solid">$</td> <td style="width: 8%; border-bottom: black 1.5pt solid; text-align: right">11,731</td> <td style="width: 1%"> </td></tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> </table>

8470

23698

8470

23698

6764

16581

5684

6764

22265

20471

11731

Maturities of lease liabilities were as follows: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">As of December 31, 2025</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Operating Lease</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 89%">For the year ended December 31, 2026</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">6,824</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Less: amounts representing interest</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(60</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Present Value of future minimum lease payments</td> <td> </td> <td> </td> <td style="text-align: right">6,764</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Less: Current obligations</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">(6,764</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Long term obligations</td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">-</td> <td> </td></tr> </table>

6824

-60

6764

13036

2220

12. ACCOUNTS PAYABLE Accounts payables are non-interest bearing and generally settled within 90-day terms. All accounts payable are expected to be settled within one year. The carrying value of accounts payable are considered to be a reasonable approximation of fair value.

13. ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consisted of the followings: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2024</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%">Accrued expenses</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">403,445</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">151,392</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Deferred revenue</td> <td> </td> <td> </td> <td style="text-align: right">30,153</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">27,568</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Other payables</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">4,261</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">7,173</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td style="text-align: right">437,859</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">186,133</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Less: non-current portion</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">—</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">3,773</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total</td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">437,859</td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">182,360</td> <td> </td></tr> </table>

Accrued expenses and other liabilities consisted of the followings: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">December 31, 2024</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 78%">Accrued expenses</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">403,445</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td style="width: 8%; text-align: right">151,392</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Deferred revenue</td> <td> </td> <td> </td> <td style="text-align: right">30,153</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">27,568</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Other payables</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">4,261</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">7,173</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td> </td> <td> </td> <td> </td> <td style="text-align: right">437,859</td> <td> </td> <td> </td> <td> </td> <td style="text-align: right">186,133</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td>Less: non-current portion</td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">—</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">3,773</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Total</td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">437,859</td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double">$</td> <td style="border-bottom: black 4.5pt double; text-align: right">182,360</td> <td> </td></tr> </table>

403445

151392

30153

27568

4261

7173

437859

186133

3773

437859

182360

14. WARRANTS As a result of the Business Combination, Breeze’s outstanding warrants were exchanged for 16,925,000 YD Bio warrants on a one-for-one basis, with the same exercise price and terms, including 11,500,000 Public Warrants and 5,425,000 Private Warrants. As of August 29, 2025, the Public Warrants began trading on the NASDAQ under the proposed symbols YDESW. Public Warrants may only be exercised for a whole number of shares. No fractional shares are issued upon exercise of the Public Warrants. The Public Warrants are exercisable on the later of (a) 30 days after the consummation of a Business Combination or (b) 12 months from the closing of the Initial Public Offering. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. Once the warrants become exercisable, the Company may call the warrants for redemption: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">in whole and not in part;</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">at a price of $0.01 per warrant;</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">upon not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each warrant holder; and</td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="text-align: justify">if, and only if, the reported last sale price of the common stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date the Company sends the notice of redemption to the warrant holders.</td></tr> </table> The Company may not redeem the warrants when a holder may not exercise such warrants. The warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to the Company, for the number of warrants being exercised. The warrant holders do not have the rights or privileges of holders of common stock and any voting rights until they exercise their warrants and receive shares of common stock. After the issuance of shares of common stock upon exercise of the warrants, each holder will be entitled to one vote for each share held of record on all matters to be voted on by stockholders. No fractional shares will be issued upon exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, the Company will, upon exercise, round down to the nearest whole number of shares of common stock to be issued to the warrant holder. The Private Placement Warrants (including the common stock issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or salable until 30 days after the completion of the initial Business Combination and they will be non-redeemable so long as they are held by the original holders or their permitted transferees. If the Private Placement Warrants are held by someone other than the original holders or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Warrants included in the Units being sold in the Initial Public Offering. Otherwise, the Private Placement Warrants have terms and provisions that are substantially identical to those of the Warrants being sold as part of the Units in the Initial Public Offering. In December 2025, 62,580 public warrants were exercised and converted into ordinary shares at an exercise price of $11.5 per share, and 1,782,089 private warrants were exchanged for 205,333 ordinary shares on a cashless basis.After the above conversion and as of December 31, 2025, there were 11,437,420 Public Warrants and 3,705,491 Private Placement Warrants outstanding. The Company classifies the outstanding Public Warrants and Private Placement Warrants as warrant liabilities on the balance sheet in accordance with the guidance contained in ASC 815-40. Under the guidance in ASC 815-40, certain warrants do not meet the criteria for equity treatment. These warrants include a clause whereby the warrant holder may be entitled to receive a net cash settlement upon the acceptance by the holders of the Company’s common stock of a tender, exchange or redemption offer. Upon such a qualifying tender cash offer (an event which could be outside the control of the Company), all Warrant holders would be entitled to cash. This factor precludes the Company from applying equity accounting as the warrant holder could receive a net cash settlement value that is greater than a holder of the Company’s common stock. Accordingly, the Company has concluded that liability accounting is required. As such, these warrants are recorded at fair value as of each reporting date with the change in fair value reported within other income in the accompanying consolidated statements of operations as “Change in fair value of warrant liability” until the warrants are exercised, expired or other facts and circumstances lead the warrant liability to be reclassified to stockholders’ equity. As of December 31, 2025, the fair value of both the Company’s Private Placement Warrants and Public Warrants utilized the Company’s trading price of the Public Warrants as the terms of the Public Warrants and Private Placement Warrants are similar.

16925000

11500000

5425000

P30D

P5Y

0.01 P30D P30D 18

62580

11.5

1782089

205333

11437420

3705491

15. SHAREHOLDER’S DEFICIT Ordinary Shares — The Company is authorized to issue 500,000,000 ordinary shares with a par value of $0.0001 per share. Holders of ordinary shares are entitled to one vote per share owned on each matter properly submitted to the shareholders on which the holders of the ordinary shares are entitled to vote. The holders of ordinary shares shall be entitled to receive dividends and other distributions (payable in cash, property or capital stock of the Company) when, as and if declared thereon by our board of directors from time to time out of any assets for funds of the Company legally available therefor and shall share equally on a per share basis in such dividends and distributions. As a result of the Business Combination, Breeze’s outstanding shares were exchanged for 4,140,948 ordinary shares of the Company; 64,730,411 ordinary shares of the Company were issued to the former shareholders of YD Biopharma. In addition, on August 28, 2025, the Company issued 1,650,000 ordinary shares to certain investors in connection with a PIPE Financing raising aggregate proceeds of $13.2 million at a price per share of $8.00. In December 2025, 62,580 public warrants were exercised and converted into ordinary shares at an exercise price of $11.5 per share, and 1,782,089 private warrants were exchanged for 205,333 ordinary shares on a cashless basis. After the above conversion and as of December 31, 2025, there were 70,789,261 ordinary shares outstanding. On July 7, 2025 the Board adopted, and the then sole shareholder of the Company approved the YD Bio Limited Equity Incentive Plan (the “Equity Incentive Plan”). The Equity Incentive Plan is adopted by the Company in connection with the Business Combination. From and after the time of the Business Combination, the Company intends to use this Equity Incentive Plan to grant new awards to eligible participants from time to time, subject to and in accordance with the terms and conditions described therein. As of December 31, 2025, no awards have been granted under the plan.

500000000

0.0001

one

4140948

64730411

1650000

13200000

62580

11.5

1782089

205333

70789261

16. FAIR VALUE MEASUREMENTS The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of December 31,2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. As of December 31,2024, the fair value of warrant liabilities was nil. <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Description</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Liabilities</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-left: 9pt">Warrant liability - Public Warrants</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,323,046</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-115">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-116">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 9pt">Warrant liability - Private Placement Warrants</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,668,436</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-117">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-118">—</div></td><td style="text-align: left"> </td></tr> </table> As of December 31, 2025, the fair value of both the Company’s Private Placement Warrants and Public Warrants utilized the Company’s trading price of the Public Warrants as the terms of the Public Warrants and Private Placement Warrants are similar. The measurement of Warrants is classified as Level 1 due to the use of an observable market quote in an active market under the ticker YDESW. The quoted prices of the Public Warrants were $0.99 per warrant as of December 31, 2025.The following table presents the changes in the fair value of warrant liabilities: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Private Placement</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Public</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Warrant Liabilities</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -9pt; padding-left: 9pt">Fair value as of August 28, 2025(Recognition of warrant liabilities assumed in the Business Combination)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,406,077</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,340,070</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">13,746,147</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants exercised for common shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,847,454</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(75,302</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,922,756</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in fair value of warrant liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,109,813</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,058,278</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,168,091</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt">Fair value as of December 31, 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,668,436</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">11,323,046</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,991,482</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of December 31,2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. As of December 31,2024, the fair value of warrant liabilities was nil. <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Description</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Liabilities</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-left: 9pt">Warrant liability - Public Warrants</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,323,046</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-115">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-116">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 9pt">Warrant liability - Private Placement Warrants</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,668,436</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-117">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-118">—</div></td><td style="text-align: left"> </td></tr> </table>

11323046

3668436

0.99

The following table presents the changes in the fair value of warrant liabilities: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Private Placement</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Public</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Warrant Liabilities</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; text-indent: -9pt; padding-left: 9pt">Fair value as of August 28, 2025(Recognition of warrant liabilities assumed in the Business Combination)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,406,077</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9,340,070</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">13,746,147</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants exercised for common shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,847,454</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(75,302</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,922,756</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in fair value of warrant liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,109,813</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,058,278</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,168,091</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 4pt">Fair value as of December 31, 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,668,436</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">11,323,046</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,991,482</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

4406077

9340070

13746147

-1847454 -75302 -1922756

1109813

2058278

3168091

3668436

11323046

14991482

17. REVENUE For the years ended December 31, 2025, 2024 and 2023, the Company’s revenue was all recognized at point of time. Revenue for the year ended December 31, 2025, consists of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Retail Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Medical and related products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">280,719</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">55</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">280,774</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Drugs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">209,025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">223,425</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Beauty products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,841</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,911</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contact lenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-120">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nutritional products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,234</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Supplements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,405</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">68</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,473</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">581,990</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,827</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">596,817</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> The Company operates in multiple geographic regions. Net revenues by geographic area for the period are as follows: Net Revenues by Geographic Area <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Geographic Area</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Net Revenues</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">United States</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">35,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Taiwan</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">561,817</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">596,817</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> The United States revenues are derived from contact lens sales, while all other product categories, including drugs, medical and related products, nutritional products, and supplements, are sold in Taiwan. Revenue for the year ended December 31, 2024, consists of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Retail Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Drugs</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">143,633</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-121">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">143,633</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical and related products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">292,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">292,858</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nutritional products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,458</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,772</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Supplements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">24,057</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,040</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,097</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">501,757</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,603</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">510,360</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> All product categories are sold in Taiwan for the year ended December 31, 2024. Revenue for the years ended December 31, 2023, consists of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Retail Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Drugs</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">141,947</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">141,947</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical and related products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">146,593</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">146,850</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nutritional products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,934</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,540</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Supplements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,341</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,453</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">51,794</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">326,815</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">23,316</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">350,131</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> All product categories are sold in Taiwan for the year ended December 31, 2023.

Revenue for the year ended December 31, 2025, consists of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Retail Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Medical and related products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">280,719</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">55</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">280,774</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Drugs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">209,025</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">223,425</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Beauty products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,841</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,911</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contact lenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-120">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nutritional products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">234</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,234</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Supplements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,405</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">68</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,473</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">581,990</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">14,827</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">596,817</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>Revenue for the year ended December 31, 2024, consists of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Retail Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Drugs</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">143,633</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-121">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">143,633</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical and related products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">292,609</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">292,858</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nutritional products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,458</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">314</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,772</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Supplements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">24,057</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8,040</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,097</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">501,757</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,603</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">510,360</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>Revenue for the years ended December 31, 2023, consists of the following: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Retail Customers</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Drugs</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">141,947</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">141,947</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical and related products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">146,593</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">257</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">146,850</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nutritional products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,934</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,540</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Supplements</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,341</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,453</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">51,794</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">326,815</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">23,316</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">350,131</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

280719

280774

209025

14400

223425

49841

49911

35000

5000

234

5234

2405

2473

581990

14827

596817

Net Revenues by Geographic Area <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Geographic Area</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Net Revenues</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">United States</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">35,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Taiwan</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">561,817</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">596,817</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

35000

561817

596817

143633

292609

249

292858

41458

314

41772

24057

8040

32097

501757

8603

510360

141947

146593

257

146850

5934

3606

9540

32341

19453

51794

326815

23316

350131

18. RESEARCH AND DEVELOPMENT EXPENSES For the years ended December 31, 2025 and 2024, the Company incurred research and development expenses primarily with related parties. In June 2024, the Company entered into an exclusive license agreement with 3D Global Biotech Inc. (a related party in which the CEO holds approximately 12.85% equity interest) for global patent and know-how related to contact lens technology for a total consideration of $5,000,000 (including VAT). In June 2024, the Company paid $1,000,000 including VAT or $952,381 net of VAT to 3D Global for the patent, formula and know-how of the technology. The Company is also obligated to pay a royalty of 10% of the sales of the products generated from 3D Global Patent to 3D Global on a quarterly basis. For the year ended December 31, 2025, 2024 and 2023, the Company recorded $1,490,000, $480,000 (including VAT) and nil, respectively as research and development costs charged from 3D Global. In June 2024, the Company licensed methylation analysis technology for pancreatic cancer from EG BioMed Co., Ltd. (a related party in which the CEO is a director and holds 45.3% equity interest) for NTD 60,000,000 ($1,830,000), and the Company is obligated to pay a royalty of 7% of sales generated from the EG BioMed Patent to EG BioMed on a quarterly basis. For the year ended December 31, 2025, 2024 and 2023, the Company incurred $16,327, $37,937 and nil, respectively, for the research and development expenses for the pancreatic cancer early detection service licensed patent and $676, nil and nil, respectively, for the research and development expenses for the Breast Cancer Patent. As of December 31, 2025, the Company has not capitalized any development cost.

0.1285

5000000

1000000 952381 0.10

1490000

480000

0.453

1830000

16327

37937

676

19. INCOME TAXES YD Bio and YD Biopharma are incorporated in the Cayman Islands, which is exempt from income tax. YD Biopharma’s 100% wholly owned subsidiary, Yong Ding, is incorporated in the ROC and is subject to the ROC Income Tax Law. The applicable tax rate is 20% for the year ended December 31, 2025, 2024 and 2023. YD USA is a company incorporated in the state of Delaware and operating in Washington, USA, subject to federal income tax at a rate of 21%, with no state income tax. Significant components of the provision for income taxes (benefits) are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current tax</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-127">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-128">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-129">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left">Deferred tax – tax loss</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">25,175</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">5,049</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred tax – book-tax difference</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,531</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(95</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(959</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Income taxes (benefits) expenses</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,531</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">25,080</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,090</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Reconciliation of the differences between the Income Tax rate applicable to profits and the income tax (benefits) expenses of the Company: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Income(loss) before taxation</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(8,312,847</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(1,386,479</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">17,650</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Notional tax on loss before tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 9pt">Computed expected tax (benefits) expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(433,837</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(277,296</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,530</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Non-taxable or non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(151,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129,635</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">560</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Change in valuation allowances</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">583,943</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">172,741</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,531</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">25,080</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,090</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> The following table reconciles statutory rate of jurisdictions in which we do business to Yong Ding’s effective tax rate: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Statutory income tax rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-taxable or non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.53</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.63</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.17</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowances</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-27.45</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-24.14</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-132">—</div></td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Effective tax rate</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.08</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-3.50</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">23.17</td><td style="padding-bottom: 4pt; text-align: left">%</td></tr> </table>The following table reconciles statutory rate of jurisdictions in which we do business to YD USA’s effective tax rate: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Statutory income tax rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-133">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-taxable or non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowances</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-21.00</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-137">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-138">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Effective tax rate</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.00</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-139">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-140">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Deferred tax assets (liabilities) are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Deferred tax assets</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 9pt">Tax losses carry forwards</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">551,303</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">167,454</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 9pt">Expected credit losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,543</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">421</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Others</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-141">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">991</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(552,846</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(168,866</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-142">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-143">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Property, plant and equipment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-144">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,463</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total deferred tax assets</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-145">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,463</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table> As of December 31, 2025, Yong Ding had net operating loss carryforwards of $2,756,513. The carry forward loss of $739,838 and $2,016,675 will be expired by 2034 and 2035, respectively, if not utilized. As of December 31, 2025, YD USA had federal net operating loss carryforwards of $148,088, which may be carried forward indefinitely to offset future taxable income, but are subject to the 80% taxable income limitation upon utilization.

0.20

0.21

Significant components of the provision for income taxes (benefits) are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current tax</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-127">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-128">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-129">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left">Deferred tax – tax loss</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">25,175</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">5,049</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred tax – book-tax difference</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,531</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(95</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(959</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Income taxes (benefits) expenses</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,531</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">25,080</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,090</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

25175 5049

-1531

-95

-959

-1531

25080

4090

Reconciliation of the differences between the Income Tax rate applicable to profits and the income tax (benefits) expenses of the Company: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Income(loss) before taxation</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(8,312,847</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(1,386,479</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">17,650</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Notional tax on loss before tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 9pt">Computed expected tax (benefits) expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(433,837</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(277,296</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,530</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Non-taxable or non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(151,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129,635</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">560</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Change in valuation allowances</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">583,943</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">172,741</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,531</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">25,080</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,090</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> The following table reconciles statutory rate of jurisdictions in which we do business to Yong Ding’s effective tax rate: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Statutory income tax rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-taxable or non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.53</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.63</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.17</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowances</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-27.45</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-24.14</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-132">—</div></td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Effective tax rate</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.08</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">-3.50</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">23.17</td><td style="padding-bottom: 4pt; text-align: left">%</td></tr> </table>The following table reconciles statutory rate of jurisdictions in which we do business to YD USA’s effective tax rate: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Statutory income tax rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-133">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">—</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-taxable or non-deductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in valuation allowances</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-21.00</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-137">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-138">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Effective tax rate</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.00</td><td style="padding-bottom: 4pt; text-align: left">%</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-139">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-140">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

-8312847

-1386479

17650

-433837 -277296 3530

-151637

129635

560

583943

172741

-1531

25080

4090

0.20

0.0753

0.0063

0.0317

-0.2745

-0.2414

0.0008

-0.035

0.2317

0.21

-0.21

Deferred tax assets (liabilities) are as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Deferred tax assets</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 9pt">Tax losses carry forwards</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">551,303</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">167,454</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 9pt">Expected credit losses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,543</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">421</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 9pt">Others</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-141">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">991</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(552,846</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(168,866</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-142">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-143">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Property, plant and equipment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-144">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,463</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total deferred tax assets</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-145">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(1,463</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table>

551303

167454

1543

421

991

552846

168866

1463

2756513

739838

2016675

148088

0.80

20. COMMITMENTS AND CONTINGENCIES As of December 31, 2025 and through the date of this report, there are no pending legal proceedings to which the Company or its subsidiaries are a party, nor is the Company aware of any threatened litigation that could reasonably be expected to have a material adverse effect on its business, financial condition, or results of operations. According to the agreement entered into with 3D Global in June 2024 with respect to the 3D Global Patent, the Company is obligated to pay up to $2,450,000 when certain conditions and milestones are satisfied and completed by 3D Global. On September 17, 2025, Yong Ding Biopharm Co., Ltd (Subsidiary of YD Bio) entered into a pre-sale real estate contract for the purchase of office space and parking facilities located in Taipei City. The contract covers an office unit and four statutory parking spaces with a total contract price of US$8,890,625 (NT$284,500,000, converted at an exchange rate of approximately 32 NT$/US$). As of December 31, 2025, the remaining balance of $7,467,812 (NT$ 238,970,000) is to be funded through a combination of internal cash reserves and a potential loan of up to US$6,223,437 (NT$199,150,000) through a designated financial institution.

2450000

8890625

284500000

7467812

238970000

6223437

199150000

21. RELATED PARTY TRANSACTIONS As of December 31, 2025, amounts due from affiliates consisted of the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">3D Global</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">33,636</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%; text-align: justify">The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares</td> <td style="vertical-align: top; width: 1%; text-align: justify"> </td> <td style="vertical-align: top; width: 30%; text-align: justify">Prepaid royalty fee</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">EG BioMed</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">291,540</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of the Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Prepayment of research and development expenses and other expenses</td></tr> </table> As of December 31, 2024, the amount due from an affiliate of the related parties in the above table was nil. As of December 31, 2025, the amounts due to affiliates consisted of the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">3D Global</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">350,400</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%; text-align: justify">The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares</td> <td style="vertical-align: top; width: 1%; text-align: justify"> </td> <td style="vertical-align: top; width: 30%; text-align: justify">Trade payables due to the Company, interest free and payment on demand.</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">420,429</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Research and development expenses payable</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">EG Bio USA</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">48,471</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">EG Bio USA is a wholly owned subsidiary of EG BioMed</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Service charge for laboratory payable</td></tr> </table> As of December 31, 2024, the amounts due to affiliates consisted of the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">EG BioMed</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">37,086</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%; text-align: justify">The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 30%; text-align: justify">Research and development expenses payable</td></tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> </table> For the year ended December 31, 2025, the Company had the following transactions with affiliates: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">3D Global</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">1,445,868</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%; text-align: justify">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top; width: 1%; text-align: justify"> </td> <td style="vertical-align: top; width: 30%; text-align: justify">Research and development expenses</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">1,880,523</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Sales of products to the Company</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">2,273</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Royalties</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">EG BioMed</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">17,003</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Research and development expenses</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">EG Bio USA</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">138,471</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">EG Bio USA is a wholly-owned subsidiary of EG BioMed</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Service charge for laboratory</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">Ji Yan Biomedical Co., Ltd</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">1,358</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of Company, holds 75.94% of the shares of Ji Yan Biomedical Co., Ltd</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Sales by the Company</td></tr> </table>For the year ended December 31,2024, the Company had the following transactions with affiliates: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">The Company’s CEO</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">455,887</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%">Company director and major shareholder</td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 30%">On August 31,2024, the Company issued 77,269 common shares with the par value of $0.10 each at $6.00 per shares to The Company’s CEO to Settle the amount due to The Company’s CEO. It represented the share capital of $7,727and the additional paid in capital of $455,887.</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">EG BioMed</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">1,848,000</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top">The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top"> </td> <td style="vertical-align: top">Granting of EG BioMed Patent to the Company</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">EG BioMed</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">37,937</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top">The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top"> </td> <td style="vertical-align: top">Research and development expenses</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">952,381</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top"> </td> <td style="vertical-align: top">Granting of 3D Global Patent to the Company</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">453,416</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top"> </td> <td style="vertical-align: top">Research and development expenses</td></tr> </table>

As of December 31, 2025, amounts due from affiliates consisted of the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">3D Global</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">33,636</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%; text-align: justify">The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares</td> <td style="vertical-align: top; width: 1%; text-align: justify"> </td> <td style="vertical-align: top; width: 30%; text-align: justify">Prepaid royalty fee</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">EG BioMed</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">291,540</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of the Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Prepayment of research and development expenses and other expenses</td></tr> </table>As of December 31, 2025, the amounts due to affiliates consisted of the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">3D Global</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">350,400</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%; text-align: justify">The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares</td> <td style="vertical-align: top; width: 1%; text-align: justify"> </td> <td style="vertical-align: top; width: 30%; text-align: justify">Trade payables due to the Company, interest free and payment on demand.</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">420,429</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Research and development expenses payable</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">EG Bio USA</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">48,471</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">EG Bio USA is a wholly owned subsidiary of EG BioMed</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Service charge for laboratory payable</td></tr> </table> As of December 31, 2024, the amounts due to affiliates consisted of the following: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">EG BioMed</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">37,086</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%; text-align: justify">The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 30%; text-align: justify">Research and development expenses payable</td></tr> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> </table> For the year ended December 31, 2025, the Company had the following transactions with affiliates: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">3D Global</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">1,445,868</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%; text-align: justify">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top; width: 1%; text-align: justify"> </td> <td style="vertical-align: top; width: 30%; text-align: justify">Research and development expenses</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">1,880,523</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Sales of products to the Company</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">2,273</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Royalties</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">EG BioMed</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">17,003</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Research and development expenses</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">EG Bio USA</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">138,471</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">EG Bio USA is a wholly-owned subsidiary of EG BioMed</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Service charge for laboratory</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">Ji Yan Biomedical Co., Ltd</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">1,358</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: justify">The Company’s CEO, the director of Company, holds 75.94% of the shares of Ji Yan Biomedical Co., Ltd</td> <td style="vertical-align: top; text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">Sales by the Company</td></tr> </table>For the year ended December 31,2024, the Company had the following transactions with affiliates: <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid">Name</td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center">Amount</td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Relationship</td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center">Note</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 25%">The Company’s CEO</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; width: 9%; border-bottom: black 4.5pt double; text-align: right">455,887</td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 31%">Company director and major shareholder</td> <td style="vertical-align: top; width: 1%"> </td> <td style="vertical-align: top; width: 30%">On August 31,2024, the Company issued 77,269 common shares with the par value of $0.10 each at $6.00 per shares to The Company’s CEO to Settle the amount due to The Company’s CEO. It represented the share capital of $7,727and the additional paid in capital of $455,887.</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">EG BioMed</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">1,848,000</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top">The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top"> </td> <td style="vertical-align: top">Granting of EG BioMed Patent to the Company</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">EG BioMed</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">37,937</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top">The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed</td> <td style="vertical-align: top"> </td> <td style="vertical-align: top">Research and development expenses</td></tr> <tr style="background-color: white"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">952,381</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top"> </td> <td style="vertical-align: top">Granting of 3D Global Patent to the Company</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top">3D Global</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double">$</td> <td style="vertical-align: bottom; border-bottom: black 4.5pt double; text-align: right">453,416</td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: top">The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global</td> <td style="vertical-align: top"> </td> <td style="vertical-align: top">Research and development expenses</td></tr> </table>

33636

The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares

Prepaid royalty fee

291540

The Company’s CEO, the director of the Company, holds 45.3% of the shares of EG BioMed

Prepayment of research and development expenses and other expenses

350400

The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares

Trade payables due to the Company, interest free and payment on demand.

420429

The Company’s CEO, the director of YD Biopharma, holds 12.85% of 3D Global shares

Research and development expenses payable

48471

EG Bio USA is a wholly owned subsidiary of EG BioMed

Service charge for laboratory payable

37086

The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed

Research and development expenses payable

1445868

The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global

Research and development expenses

1880523

The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global

Sales of products to the Company

2273

The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global

Royalties

17003

The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed

Research and development expenses

138471

EG Bio USA is a wholly-owned subsidiary of EG BioMed

Service charge for laboratory

1358

The Company’s CEO, the director of Company, holds 75.94% of the shares of Ji Yan Biomedical Co., Ltd

Sales by the Company

455887

Company director and major shareholder

On August 31,2024, the Company issued 77,269 common shares with the par value of $0.10 each at $6.00 per shares to The Company’s CEO to Settle the amount due to The Company’s CEO. It represented the share capital of $7,727and the additional paid in capital of $455,887.

1848000

The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed

Granting of EG BioMed Patent to the Company

37937

The Company’s CEO, the director of Company, holds 45.3% of the shares of EG BioMed

Research and development expenses

952381

The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global

Granting of 3D Global Patent to the Company

453416

The Company’s CEO, the director of Company, holds 12.85% of the shares of 3D Global

Research and development expenses

22. SEGMENT REPORTING The Company’s chief operating decision maker evaluates segment performance and allocates resources based on several factors, of which the primary financial measure is operating income. The Company acquired the 3D Global Patent and EG BioMed Patent in June 2024 and commenced the pancreatic cancer early detection service and sales of contact lens business. For the year ended December 31, 2025, revenue of $35,000 was generated from 3D Global Patent and there was no revenue generated from the patents for the year ended December 31, 2024. The Company primarily operates in the ROC and substantially all of the Company’s long-lived assets are located in the ROC. The Company provides Laboratory Developed Test (LDT) services to healthcare professionals across the United States. YD Bio’s chief operating decision maker evaluates performance based on a single reporting segment’s net revenues, cost of revenues, operating expenses, operating income (loss), finance income (expense), other income and net income. Net revenue, cost of revenues, operating expenses, operating loss, finance income, other income (expenses) and net loss by diverse operations for the year ended December 31, 2025, and 2024 were as follows: <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="font-style: normal; vertical-align: bottom; font-variant: normal; font-weight: normal"> <td style="font-variant: normal; font-weight: normal; font-style: normal; border-bottom: Black 1.5pt solid">For year ended December 31, 2025</td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Sales of medical and other related products</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Research and development of pancreatic cancer early detection services</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Research and development of sales of contact lenses</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Corporate unallocated</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Consolidated</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Net revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">561,817</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-147">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">35,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">596,817</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(401,264</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-149">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,143</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(429,407</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,553</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,857</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-152">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,410</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(444,208</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(143,927</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,805,720</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,045,276</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,439,131</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(283,655</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(143,927</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,863</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,045,276</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,271,721</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance income, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,162</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,942</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-156">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(139</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,803</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value of warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-157">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-158">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-159">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,168,091</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,168,091</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,531</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-160">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-161">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-162">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,531</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(216,785</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(143,927</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,863</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,151,741</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,311,316</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Identifiable long-lived assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">67,810</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,722,600</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">887,139</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-163">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,677,549</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Total assets</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,337,152</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,722,600</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">887,139</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,832,506</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">13,779,397</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="font-style: normal; vertical-align: bottom; font-weight: normal"> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal">For year ended December 31, 2024</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Sales of medical and other related products</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Research and development of pancreatic cancer early detection services</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Research and development of sales of contact lenses</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Corporate unallocated</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Consolidated</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Net revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">510,360</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-164">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-165">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-166">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">510,360</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(355,004</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-167">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-168">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-169">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(355,004</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">155,356</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-170">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-171">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-172">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">155,356</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(447,642</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(53,678</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(469,158</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(646,808</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,617,286</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(292,286</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(53,678</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(469,158</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(646,808</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,461,930</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance income, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,068</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-173">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-174">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">968</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,036</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,444</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-175">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-176">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,415</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,080</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-177">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-178">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-179">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,080</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(242,854</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(53,678</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(469,158</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(645,869</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,411,559</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As of December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Identifiable long-lived assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,769,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">911,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-180">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,768,112</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,219,996</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,769,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">911,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,964,195</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,864,226</td><td style="text-align: left"> </td></tr> </table>

The Company’s chief operating decision maker evaluates segment performance and allocates resources based on several factors, of which the primary financial measure is operating income.

35000

Net revenue, cost of revenues, operating expenses, operating loss, finance income, other income (expenses) and net loss by diverse operations for the year ended December 31, 2025, and 2024 were as follows:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="font-style: normal; vertical-align: bottom; font-variant: normal; font-weight: normal"> <td style="font-variant: normal; font-weight: normal; font-style: normal; border-bottom: Black 1.5pt solid">For year ended December 31, 2025</td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Sales of medical and other related products</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Research and development of pancreatic cancer early detection services</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Research and development of sales of contact lenses</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Corporate unallocated</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-variant: normal; font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-variant: normal; font-weight: normal; font-style: normal; text-align: center; border-bottom: Black 1.5pt solid">Consolidated</td><td style="font-variant: normal; padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Net revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">561,817</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-147">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">35,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">596,817</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(401,264</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-149">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,143</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(429,407</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,553</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,857</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-152">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,410</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(444,208</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(143,927</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,805,720</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,045,276</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,439,131</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(283,655</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(143,927</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,863</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,045,276</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,271,721</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance income, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">80,162</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,942</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-156">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(139</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46,803</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in fair value of warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-157">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-158">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-159">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,168,091</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,168,091</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,531</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-160">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-161">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-162">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,531</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(216,785</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(143,927</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,798,863</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,151,741</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,311,316</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Identifiable long-lived assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">67,810</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,722,600</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">887,139</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-163">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,677,549</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 4pt">Total assets</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,337,152</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,722,600</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">887,139</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,832,506</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">13,779,397</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="font-style: normal; vertical-align: bottom; font-weight: normal"> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal">For year ended December 31, 2024</td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Sales of medical and other related products</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Research and development of pancreatic cancer early detection services</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Research and development of sales of contact lenses</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Corporate unallocated</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td><td style="font-weight: normal; font-style: normal; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; font-style: normal; text-align: center">Consolidated</td><td style="padding-bottom: 1.5pt; font-weight: normal; font-style: normal"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Net revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">510,360</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-164">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-165">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-166">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">510,360</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(355,004</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-167">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-168">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-169">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(355,004</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">155,356</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-170">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-171">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-172">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">155,356</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(447,642</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(53,678</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(469,158</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(646,808</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,617,286</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(292,286</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(53,678</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(469,158</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(646,808</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,461,930</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance income, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,068</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-173">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-174">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">968</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,036</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,444</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-175">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-176">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,415</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,080</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-177">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-178">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-179">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25,080</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(242,854</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(53,678</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(469,158</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(645,869</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,411,559</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As of December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">　</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Identifiable long-lived assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88,077</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,769,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">911,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-180">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,768,112</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,219,996</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,769,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">911,035</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,964,195</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,864,226</td><td style="text-align: left"> </td></tr> </table>

561817

35000

596817

401264

28143

429407

160553

6857

167410

444208

143927

1805720

3045276

5439131

-283655

-143927

-1798863

-3045276

-5271721

18397 61765 80162

46942

-139

46803

3168091

-1531

-216785

-143927

-1798863

-6151741

-8311316

67810

1722600

887139

2677549

2337152

1722600

887139

8832506

13779397

510360

355004

155356

447642

53678

469158

646808

1617286

-292286

-53678

-469158

-646808

-1461930

10068 968 11036

64444

-29

64415

25080

-242854

-53678

-469158

-645869

-1411559

88077

1769000

911035

2768112

2219996

1769000

911035

1964195

6864226

23. SUBSEQUENT EVENTS On January 20, 2026, the Company entered into a binding Letter of Intent (LoI) to acquire 100% of the equity interests in Safe Save Medical Cell Sciences & Technology Co., Ltd. (SSMC), a Taiwan-based company focused on innovative autologous dendritic cell/tumor antigen (ADCTA) immunocell therapies, including late-stage clinical assets for glioblastoma and other solid tumors. The total consideration is approximately NT$839,832,000 (equivalent to about US$26.87 million), payable through a combination of newly issued Company shares and cash. The parties target completion is subject to successful due diligence, corporate restructuring of SSMC, regulatory approvals, and other customary conditions. There can be no assurance that the acquisition will be consummated. During January to April 2026, 570,585 warrants were exercised and converted into ordinary shares. On March 31, 2026, the Company issued 2,081 ordinary shares to each of two directors upon the vesting of certain Restricted Share Units granted under the Company’s Equity Incentive Plan.

839832000

26870000

570585

2081

POS AM

http://fasb.org/srt/2025#ChiefOperatingOfficerMember

0002011674 true Shares related information and additional paid-in capital are retrospectively restated for effect of recapitalization completed on August 28, 2025. Shares related information and additional paid-in capital are retrospectively restated for effect of recapitalization completed on August 28, 2025 Basic and diluted net (loss) income per share for the year ended December 31, 2023 was $0.0002. Represents less than 10% of purchase for the year ended December 31, 2025, and 2024. Represents less than 10% of accounts payable balances as of December 31, 2025, and 2024. Represents less than 10% of revenue for the year ended December 31, 2025, and 2024, respectively. Represents less than 10% of accounts receivable balances as of December 31, 2025, and 2024, respectively.