Youlibang—as the name suggests—was founded thanks to the help of friends. When the founders started their business, they were penniless, filled with only ideals and ambitions. When they were starting their business in Shenzhen, they borrowed cars from friends when they didn't have a car, a factory from friends when they didn't have a factory, and even money from friends when they didn't have money. Hence the name "Youlibang," implying that the founders would continue to act as friends, helping clients create value and increase profits.

Youlibang was founded in 2007, marking 18 years since its founding. Starting in 2007, they expanded their business from manufacturing non-powered roller lines to developing and manufacturing non-powered products such as track-mounted and universal travel vehicles in 2008, and then to developing and manufacturing hydraulic lift products in 2009.