ZYBT

JILIN, China, April 28, 2026 /PRNewswire/ -- Zhengye Biotechnology Holding Limited (Nasdaq: ZYBT) (the "Company" or "Zhengye"), a veterinary vaccine manufacturer that encompasses research, development, manufacturing, and sales of veterinary vaccines, with a focus on livestock vaccines in China, today announced its financial results for the fiscal year ended December 31, 2025. Mr. Songlin Song, co-chief executive officer of Zhengye, remarked, "Fiscal year 2025 was a year of resilience for Zhengye. While the broader hog market experienced low and volatile price fluctuations and government macro-control policies contributed to near-term pressure on swine vaccine demand, we remained focused on executing our strategy and driving long-term value creation. We are encouraged by the continued growth in our other vaccines segment, particularly vaccines for sheep, which contributed to improving our revenue mix. On the international front, we made progress in advancing vaccine registrations in certain overseas markets, including Egypt, Pakistan, and Vietnam, supporting our long-term expansion strategy." "We continued to prioritize research and development as a core driver of our future growth. In 2025, we achieved several regulatory milestones, including the approval of two National Category I New Veterinary Drugs and one National Category III New Veterinary Drug from the Ministry of Agriculture and Rural Affairs. We also secured new product approvals across multiple animal species, including swine, poultry, cattle, and sheep, further broadening our commercial offerings. We believe these achievements reflect our ongoing innovation efforts and support our long-term growth strategy." Mr. Aiden Han, co-chief executive officer of Zhengye, added, "With our Nasdaq listing, we further strengthened our capital base and financial position, providing a foundation to support our strategic priorities. We ended the year with a stronger cash position of RMB50.3 million, representing an increase from the prior year, which is expected to enhance our ability to invest in research and development, expand our product portfolio, and support future growth initiatives." "Looking ahead, we are encouraged by early signs of a gradual recovery in China's swine market, with industry expectations pointing to a potential price inflection point around mid-year in 2026. We aim to deepen strategic customer engagement, strengthen our product portfolio, expand our customer service ecosystem, and selectively pursue opportunities in the companion animal sector as a new growth driver. We believe these initiatives, together with our operational foundation, will support our ability to navigate industry cycles. We are grateful for the support of our shareholders, customers, and partners, and remain committed to building on our progress as we navigate this period and lay a foundation for Zhengye's long-term growth." Fiscal Year 2025 Financial Summary Net revenue was RMB116.4 million (US$16.6 million) in the fiscal year ended December 31, 2025, compared to RMB186.4 million in the fiscal year ended December 31, 2024. Gross profit was RMB23.9 million (US$3.4 million) in the fiscal year ended December 31, 2025, compared to RMB91.3 million in the fiscal year ended December 31, 2024. Gross profit margin was 20.5% in the fiscal year ended December 31, 2025, compared to 49.0% in the fiscal year ended December 31, 2024. Total operating expenses were RMB94.4 million (US$13.5 million) in the fiscal year ended December 31, 2025, compared to RMB74.9 million in the fiscal year ended December 31, 2024. Net loss was RMB83.0 million (US$11.9 million) in the fiscal year ended December 31, 2025, compared to net income of RMB13.5 million in the fiscal year ended December 31, 2024. Basic and diluted loss per share was RMB1.47 (US$0.21) in the fiscal year ended December 31, 2025, compared to basic and diluted earnings per share of RMB0.25 in the fiscal year ended December 31, 2024. Fiscal Year 2025 Financial Results Net Revenue Net revenue was RMB116.4 million (US$16.6 million) in the fiscal year ended December 31, 2025, representing a decrease of 37.6% from RMB186.4 million in the fiscal year ended December 31, 2024. Revenue from sales of swine vaccines was RMB90.1 million (US$12.9 million) in the fiscal year ended December 31, 2025, decreased from RMB157.8 million in the fiscal year ended December 31, 2024. This decrease was primarily driven by a downturn in the hog market in 2025, characterized by low and volatile prices. Additionally, government macro-control policies aimed at reducing the inventory of productive sows to alleviate periodic oversupply contributed to the reduced demand for swine vaccines. Revenue from sales of poultry vaccines was RMB12.5 million (US$1.8 million) in the fiscal year ended December 31, 2025, decreased from RMB15.5 million in the fiscal year ended December 31, 2024. The decrease was primarily due to normal market fluctuations. Revenue from sales of other vaccines was RMB13.7 million (US$2.0 million) in the fiscal year ended December 31, 2025, increased from RMB13.1 million in the fiscal year ended December 31, 2024. The increase in sales of other vaccines was caused by the increased sales of the vaccines for sheep. Cost of Revenue Cost of revenue was RMB92.5 million (US$13.2 million) in the fiscal year ended December 31, 2025, representing a decrease of 2.7% from RMB95.1 million in the fiscal year ended December 31, 2024. The decrease was mainly due to the decrease in the cost of swine vaccines. Gross Profit Gross profit was RMB23.9 million (US$3.4 million) in the fiscal year ended December 31, 2025, decreased from RMB91.3 million in the fiscal year ended December 31, 2024. Gross profit margin was 20.5% in the fiscal year ended December 31, 2025, decreased from 49.0% in the fiscal year ended December 31, 2024, mainly due to the lower sales price and unchanged fixed cost. Operating Expenses Total operating expenses were RMB94.4 million (US$13.5 million) in the fiscal year ended December 31, 2025, increased from RMB74.9 million in the fiscal year ended December 31, 2024. Sales and marketing expenses were RMB43.9 million (US$6.3 million) in the fiscal year ended December 31, 2025, increased from RMB41.3 million in the fiscal year ended December 31, 2024. The increase in sales and marketing expenses was primarily due to higher payroll for sales staffs, and increased advertising expenses and entertainment, partially offset by a decrease in marketing promotion expenses. General and administrative expenses were RMB31.0 million (US$4.4 million) in the fiscal year ended December 31, 2025, increased from RMB22.6 million in the fiscal year ended December 31, 2024. The increase in general and administrative expenses was attributed to the increase in professional technical services and in depreciation and amortization. Research and development expenses were RMB18.0 million (US$2.6 million) in the fiscal year ended December 31, 2025, increased from RMB12.8 million in the fiscal year ended December 31, 2024. The increase in research and development expenses mainly resulted from an increase in research and development projects, which led to an increase in materials. Net Income (Loss) Net loss was RMB83.0 million (US$11.9 million) in the fiscal year ended December 31, 2025, compared to net income of RMB13.5 million in the fiscal year ended December 31, 2024. Basic and Diluted Earnings (Loss) per Share Basic and diluted loss per share was RMB1.47 (US$0.21) in the fiscal year ended December 31, 2025, compared to basic and diluted earnings per share of RMB0.25 in the fiscal year ended December 31, 2024. Financial Condition As of December 31, 2025, the Company had cash of RMB50.3 million (US$7.2 million), compared to RMB18.6 million as of December 31, 2024. Net cash provided by operating activities was RMB13.3 million (US$1.9 million) in the fiscal year ended December 31, 2025, compared to RMB41.0 million in the fiscal year ended December 31, 2024. Net cash used in investing activities was RMB12.6 million (US$1.8 million) in the fiscal year ended December 31, 2025, compared to RMB27.7 million in the fiscal year ended December 31, 2024. Net cash provided by financing activities was RMB32.3 million (US$4.6 million) in the fiscal year ended December 31, 2025, compared to net cash used in financing activities of RMB22.1 million in the fiscal year ended December 31, 2024. Exchange Rate Information This announcement contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader. Unless otherwise stated, all translations of Renminbi ("RMB") into U.S. dollars ("US$") were made at RMB6.9931 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on December 31, 2025. About Zhengye Biotechnology Holding Limited Through Jilin Zhengye Biological Products Co., Ltd., the Company's operating entity based in Jilin, China, Zhengye Biotechnology Holding Limited focuses on the research, development, manufacturing, and sales of veterinary vaccines, with an emphasis on vaccines for livestock. For over 20 years, the operating entity has been committed to enhancing the health of animals. The operating entity has 50 veterinary vaccines, including vaccines for swine, cattle, goats, sheep, poultry, and dogs. The operating entity's products are available in 29 provincial regions across China and are exported overseas to Vietnam, Pakistan, and Egypt as of the date of this press release. The operating entity has three GMP veterinary vaccine production floors (including 13 GMP vaccine production lines), one quality examination center, and one animal facility for vaccine development. The operating entity has 49 employees who have over a decade of tenure and experience in the veterinary vaccine industry. For more information, please visit the Company's website: http://ir.jlzybio.com. Forward-Looking Statements This announcement contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this announcement. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the United States Securities and Exchange Commission. For more information, please contact: Zhengye Biotechnology Holding Limited Investor Relations Department Email: [email protected] Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: [email protected] View original content:https://www.prnewswire.com/news-releases/zhengye-biotechnology-holding-limited-announces-fiscal-year-2025-financial-results-302756248.html

JILIN, China, July 3, 2025 /PRNewswire/ -- Zhengye Biotechnology Holding Limited (Nasdaq: ZYBT) (the "Company" or "Zhengye"), a veterinary vaccine manufacturer that encompasses research, development, manufacturing, and sales of veterinary vaccines, with a focus on livestock vaccines in China, today announced its financial results for the fiscal year ended December 31, 2024. Mr. Songlin Song, co-chief executive officer of Zhengye, remarked, "Fiscal year 2024 was a transformational year for us, marked by strategic decisions and tough yet necessary shifts, as we navigated significant market adjustments and proactively diversified our customer base in pursuit of long-term growth. Amid global uncertainties and challenging domestic market conditions, we made the deliberate decision to reduce sales of swine vaccines, primarily to mitigate concentration risk from our largest customers. We believe this will lead to a healthier and more balanced customer portfolio to better support our strategic diversification. Meanwhile, we have maintained our research and development ("R&D") investments, recognizing that innovation is key to sustainable and long-term growth, even amid current headwinds. Over the past year, we made progress in expanding into China's fast-growing pet vaccine market, having completed clinical trials for two vaccines targeting cats and dogs. We see this as a high-potential segment and expect it to become a key focus moving forward. Additionally, we were honored to receive two Category I New Veterinary Drug Certificates from the Ministry of Agriculture and Rural Affairs for two vaccines jointly developed by us and other institutions, which is a strong testament to our R&D capabilities. Mr. Aiden Han, co-chief executive officer of Zhengye, added, "With our successful Nasdaq listing, global market expansion has become a central component of our long-term vision to become a world-leading, trusted manufacturer of veterinary vaccines. Exploring international sales opportunities and expanding our global distribution network will be a strategic priority in the years ahead. Though these transitional measures may bring noticeable short-term effects, we believe the long-term benefits will be enduring and substantial. We are building a more resilient and adaptable foundation to support our growth ambitions. Our unwavering commitment to developing safe and innovative products and consistently delivering high quality will continue to be the cornerstone of long-term value creation for our stakeholders." Fiscal Year 2024 Financial Summary Net revenues were RMB186.4 million (US$25.5 million) in fiscal year 2024, compared to RMB211.7 million in fiscal year 2023. Gross profit was RMB91.3 million (US$12.5 million) in fiscal year 2024, compared to RMB117.5 million in fiscal year 2023. Gross profit margin was 49.0% in fiscal year 2024, compared to 55.5% in fiscal year 2023. Total operating expenses were RMB74.9 million (US$10.3 million) in fiscal year 2024, increased from RMB72.5 million in fiscal year 2023. Net income was RMB13.5 million (US$1.8 million) in fiscal year 2024, compared to RMB37.5 million in fiscal year 2023. Basic and diluted earnings per share were RMB0.25 (US$0.03) in fiscal year 2024, compared to RMB0.69 in fiscal year 2023. Fiscal Year 2024 Financial Results Net Revenues Net revenues were RMB186.4 million (US$25.5 million) in fiscal year 2024, representing a decrease of 12.0% from RMB211.7 million in fiscal year 2023. The decrease was primarily due to the veterinary vaccine market adjustments and the reduced sales of swine vaccines following the Company's strategic realignment of sales practices aimed at diversifying the customer base and reducing concentration risk. Revenue from sales of swine vaccines was RMB157.8 million (US$21.6 million) in fiscal year 2024, decreased from RMB188.9 million in fiscal year 2023. The decrease was a result of the control of sales to Zhengye's operating entity's largest customer. Revenue from sales of poultry vaccines was RMB15.5 million (US$2.1 million) in fiscal year 2024, increased from RMB15.4 million in fiscal year 2023. There was no significant change in revenue from sales of poultry vaccines and the difference was caused by normal demand fluctuation. Revenue from sales of other vaccines was RMB13.1 million (US$1.8 million) in fiscal year 2024, increased from RMB7.3 million in fiscal year 2023. The increase in sales of other vaccines was caused by the increased sales of the vaccines for sheep. Cost of Revenues Cost of revenues was RMB95.1 million (US$13.0 million) in fiscal year 2024, representing an increase of 1.0% from RMB94.1 million in fiscal year 2023. The increase was mainly due to the increase in the cost of poultry vaccines. Gross Profit Gross profit was RMB91.3 million (US$12.5 million) in fiscal year 2024, decreased from RMB117.5 million in fiscal year 2023. Gross profit margin was 49.0% in fiscal year 2024, decreased from 55.5% in fiscal year 2023. The decrease was mainly due to the lower sales price and unchanged fixed cost. Operating Expenses Total operating expenses were RMB74.9 million (US$10.3 million) in fiscal year 2024, increased from RMB72.5 million in fiscal year 2023. Sales and marketing expenses were RMB41.3 million (US$5.7 million) in fiscal year 2024, increased from RMB40.7 million in fiscal year 2023. The increase in sales and marketing expenses mainly resulted from an increase in payroll for sales staffs, marketing promotion expenses and entertainment, partially offset by a decrease in travel expenses and advertising expenses. General and administrative expenses were RMB22.6 million (US$3.1 million) in fiscal year 2024, decreased from RMB23.6 million in fiscal year 2023. The decrease in administrative expenses is attributed to the reduction in employee compensation and decrease in depreciation and amortization. Research and development expenses were RMB12.8 million (US$1.8 million) in fiscal year 2024, increased from RMB11.9 million in fiscal year 2023. The increase in research and development expenses mainly resulted from an increase in material expenses. Net Income Net income was RMB13.5 million (US$1.8 million) in fiscal year 2024, compared to RMB37.5 million in fiscal year 2023. Basic and Diluted Earnings per Share Basic and diluted earnings per share were RMB0.25 (US$0.03) in fiscal year 2024, compared to RMB0.69 in fiscal year 2023. Financial Condition As of December 31, 2024, the Company had cash of RMB18.6 million (US$2.5 million), compared to RMB15.1 million as of December 31, 2023. Net cash provided by operating activities was RMB41.0 million (US$5.6 million) in fiscal year 2024, compared to RMB48.2 million in fiscal year 2023. Net cash used in investing activities was RMB27.7 million (US$3.8 million) in fiscal year 2024, compared to RMB11.8 million in fiscal year 2023. Net cash used in financing activities was RMB22.1 million (US$3.0 million) in fiscal year 2024, compared to RMB19.0 million in fiscal year 2023. Exchange Rate Information This announcement contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader. Unless otherwise stated, all translations of Renminbi ("RMB") into U.S. dollars ("US$") were made at RMB7.2993 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on December 31, 2024. Recent Development On January 8, 2025, the Company closed its initial public offering (the "Offering"). We issued and sold an aggregate of 1,500,000 ordinary shares at a public offering price of $4.00 per ordinary share. On January 14, 2025, Kingswood Capital Partners, LLC, as the representative of the underwriters of the Offering, exercised their over-allotment option in full to purchase an additional 225,000 ordinary shares at the public offering price of $4.00 per share. The total gross proceeds received from the Offering, including proceeds from the exercise of the over-allotment option, were $6.9 million, before deducting underwriting discounts and other related expenses. The Company's ordinary shares commenced trading on the Nasdaq Capital Market on January 7, 2025, under the ticker symbol "ZYBT." On February 25, 2025, the Ministry of Agriculture and Rural Affairs ("the Ministry") approved the Live Vaccine for Mycoplasma bovis (Strain HB150) (2025 No.11) as a Category I New Veterinary Drug, which was jointly developed by the Company, Huazhong Agricultural University and other institutions. On March 21, 2025, the Ministry announced the approval (2025 No.18) of another Category I New Veterinary Drug — a Pentavalent Inactivated Vaccine for poultry diseases including Newcastle Disease, Infectious Bronchitis, Avian Influenza (H9), Infectious Bursal Disease, and Avian Adenovirus (Group I, Serotype 4), which was jointly developed by the Company, Pulike Biological Engineering, Inc. and other institutions. Both of these veterinary vaccines have obtained the national Category I Veterinary Drug Registration Certificate ("Category I Certificate"), marking a major breakthrough for the Company in the field of animal vaccine R&D. Category I Certificates are granted to biological products that demonstrate significant innovation and are being developed for the first time, either domestically or internationally, without prior market entry. Compared to Category II and III New Veterinary Drugs, Category I New Veterinary Drugs enjoy the longest monitoring period of up to five years. During this period, no other companies, except for the original applicants, are permitted to produce or import the drugs. This exclusivity creates a strong technological entry barrier and is expected to generate substantial economic returns while enhancing the Company's industry influence. About Zhengye Biotechnology Holding Limited Through Jilin Zhengye Biological Products Co., Ltd., the Company's operating entity based in Jilin, China, Zhengye Biotechnology Holding Limited focuses on the research, development, manufacturing and sales of veterinary vaccines, with an emphasis on vaccines for livestock. For over 20 years, the operating entity has been committed to enhancing the health of animals. The operating entity has 46 veterinary vaccines, including vaccines for swine, cattle, goats, sheep, poultry, and dogs. The operating entity's products are available in 28 provincial regions across China and are exported overseas to Vietnam, Pakistan, and Egypt. The operating entity has three GMP veterinary vaccine production floors, including 13 GMP vaccine production lines, one quality examination center, and one animal facility for vaccine development. The operating entity has 49 employees who have over a decade of experience in the veterinary vaccine industry. For more information, please visit the Company's website: http://ir.jlzybio.com. Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. For more information, please contact: Zhengye Biotechnology Holding Limited Investor Relations Department Email: [email protected] Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: [email protected] View original content:https://www.prnewswire.com/news-releases/zhengye-biotechnology-holding-limited-announces-fiscal-year-2024-financial-results-302497426.html SOURCE Zhengye Biotechnology Holding Limited