YDES · CIK 0002011674
What YD Bio Ltd told the SEC could break it.
2 self-disclosed vulnerabilities, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far — we surface every cited disclosure we’ve extracted for YDES. More may follow as additional filings are processed.
In its own words
What could break it.
Customer concentration
- top-3 customers (Novartis/Zuellig/Alcon) ~53.7% of revenuehigh
Revenue is concentrated in three corporate customers — Novartis, Zuellig and Alcon — at ~53.7% of FY2025 revenue; loss or reduced orders from any would materially harm results.
“YD Bio's top three corporate customers — Novartis, Zuelling and Alcon — accounted for approximately 53.7% of the company's total revenue for the year ended December 31, 2025.”
SEC filing →As of 2026
Geographic concentration
- Taiwan-based operations; China-Taiwan conflict riskhigh
Major subsidiary and substantially all operations are headquartered in Taiwan; PRC-Taiwan tensions (incl. the 2005 Anti-Secession Law authorizing non-peaceful means) could trigger military action, sanctions or disruption.
“As the headquarters of our major subsidiary (i.e., Yong Ding Biopharm Co., Ltd.) is based in Taiwan, relations between Taiwan and the PRC and other factors affecting military, political or economic conditions in Taiwan could materially and adversely affect our financial condition and results of operations.”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings — including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
Zuellig Pharma
“YD Bio's top three corporate customers — Novartis, Zuelling and Alcon — accounted for approximately 53.7% of the company's total revenue for the year ended December 31, 2025.”
Cited →“YD Bio's top three corporate customers — Novartis, Zuelling and Alcon — accounted for approximately 53.7% of the company's total revenue for the year ended December 31, 2025.”
Cited →“YD Bio's top three corporate customers — Novartis, Zuelling and Alcon — accounted for approximately 53.7% of the company's total revenue for the year ended December 31, 2025.”
Cited →
Its suppliers
Zuellig Pharma
“For the year ended December 31, 2024, the Company's top supplier is Zeulling Pharma, which accounted for 37.5% of the Company's purchases.”
Cited →
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