Youlife Group Inc. Marks New Milestone with Nasdaq Listing
Beijing, July 9, 2025 — Youlife Group Inc. ("Youlife"), a prominent provider of lifetime services dedicated to blue-collar workers in China, proudly announces the successful completion of its business combination with Distoken Acquisition Corporation ("Distoken"). This strategic move positions Youlife as a publicly traded entity, with its American Depositary Shares (ADS) set to commence trading on the Nasdaq Capital Market on July 10, 2025, under the ticker symbol "YOUL."
The successful culmination of this business combination follows the approval accorded during the extraordinary general meeting of Distoken shareholders held on May 30, 2025. It also signals the fulfillment or waiver of all other necessary closing conditions. The transaction signifies not only a shift in Youlife’s operational capabilities but also enhances its visibility and growth potential in international markets.
In the lead-up to this event, Youlife and Distoken garnered significant investment through subscription agreements with multiple investors, securing a total of approximately 2.7 million Class A ordinary shares of Youlife at a price of $10.00 per share. This PIPE (Private Investment in Public Equity) financing has generated about $27 million in gross proceeds, which is set to fuel the strategic development of Youlife's robust service offerings.
Yunlei Wang, the Founder, CEO, and Chairman of Youlife, expressed his enthusiasm about this significant turn in the company’s journey. Wang stated, "Today marks a significant milestone in Youlife's journey. Listing on Nasdaq is not only a vote of confidence in our mission to serve China's blue-collar workforce, but also a launchpad to amplify our impact on a global scale. We are grateful for the support of Distoken and our partners, and we look forward to accelerating our vision of delivering lifetime value and dignity to millions of workers through technology and innovation."
Commenting on the merger, Jian Zhang, CEO of Distoken, conveyed his satisfaction with the successful completion of the merger, particularly amid challenging market conditions. Lidong Zhu, CFO of Youlife, highlighted, "This successful listing further strengthens our leadership in China's blue-collar talent services sector. It also marks an important step forward in advancing our global expansion and digital transformation strategies."
Both companies have enlisted a consortium of legal advisors to navigate the complexities of this merger. Youlife’s counsel includes Baker McKenzie LLP, Haiwen Partners, Campbells, and Tian Yuan Law Firm LLP, while Ellenoff Grossman & Schole LLP, Maples and Calder (Cayman) LLP, Jingtian Gongcheng, and Fangda Partners represent Distoken.
About Youlife Group Inc.
Youlife is dedicated to servicing blue-collar workers through a nationwide network consisting of 25 vocational schools and extensive curriculum development projects that span across 37 cities within 16 provinces in China. With a deep commitment to enhancing vocational training and opportunities, Youlife aims to empower millions of workers.
For more information, visit
Youlife Investor Relations.
About Distoken
Distoken is a blank check company organized in the Cayman Islands, formed to effect a merger, share exchange, asset acquisition, or other similar business combination with emerging businesses.
### Forward-Looking Statements
This announcement contains forward-looking statements that reflect the current beliefs and expectations of management regarding future events. These statements may involve risks and uncertainties that could cause actual outcomes to differ materially from those projected. Factors that could impact these outcomes include the company’s ability to maintain and grow its operations, retain talent, and adapt to market conditions.
This press release was prepared for informational purposes and is not intended as an offer to sell or a solicitation of an offer to purchase any securities. Youlife and Distoken disclaim any and all liability for any loss or damage incurred by any party due to reliance on or any errors in this press release.