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ZYBT on Nasdaq

Zhengye Biotechnology Holding Ltd

Zhengye Biotechnology Holding Ltd is a Chinese pharmaceutical preparations company, listed on Nasdaq (ZYBT).1

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Last updated Oct 21, 2026.

Overview

$16.6MRevenue, fiscal 20252
-$10.0MNet income, fiscal 20252

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  • TickerZYBT on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersF41
  • Incorporated inChina3
  • Business addressNo.1 Lianmeng Street, Jilin Economic &, Technical Development Zone, Jilin3
  • Filer categoryNon-accelerated filer, Emerging growth company3

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May 18, 2004, Jilin Zhengye was established as a limited liability company organized under the laws of the PRC.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

20.5%Gross margin2
-60.6%Operating margin2
-60.0%Net margin2
-34.8%Revenue growth, 20252
-27.9%Return on equity2
0.04×Debt to equity2
$1.8MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Swine Vaccines brought in 39% of the revenue Zhengye Biotechnology Holding Ltd broke down this way in fiscal 2025.

  1. Swine Vaccines90.1M CNY239%down 43% from 2024
  2. Distribution Network61.5M CNY226%up 3% from 2024
  3. Direct Sales Channel51.9M CNY222%down 57% from 2024
  4. Other Vaccines13.7M CNY26%up 5% from 2024
  5. Poultry Vaccines12.5M CNY25%down 20% from 2024
  6. Government Tender And Procurement3.0M CNY21%down 37% from 2024
Products and services by year
Products and services202320242025
Swine Vaccines188.9M CNY157.8M CNY90.1M CNY
Distribution Network49.6M CNY59.9M CNY61.5M CNY
Direct Sales Channel159.5M CNY121.8M CNY51.9M CNY
Other Vaccines7.3M CNY13.1M CNY13.7M CNY
Poultry Vaccines15.4M CNY15.5M CNY12.5M CNY
Government Tender And Procurement2.5M CNY4.7M CNY3.0M CNY

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue76¢$13.2M
  • Research and development15¢$2.6M
  • Income tax9¢$1.6M

Out of $16.6M in revenue.2 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending8¢$144.0K
  • Kept or used elsewhere92¢$1.8M

Out of $1.9M of cash from operations.2

Financial statements

Revenue52$16.6M in 2025−35% since 2024
0$10.0M$20.0M$30.0M2024: $25.5M$25.5M20242025: $16.6M$16.6M2025−35%
Gross profit52$3.4M in 2025−73% since 2024
0$5.0M$10.0M$15.0M2024: $12.5M$12.5M20242025: $3.4M$3.4M2025−73%
Operating income52-$10.1M in 2025
-$15.0M-$10.0M-$5.0M0$5.0M2024: $2.3M$2.3M20242025: -$10.1M-$10.1M2025
Net income52-$10.0M in 2025
-$10.0M-$5.0M0$5.0M2024: $1.6M$1.6M20242025: -$10.0M-$10.0M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Net revenues116.4M CNY186.4M CNY211.7M CNY
Cost of revenues-92.5M CNY-95.1M CNY-94.1M CNY
Gross profit23.9M CNY91.3M CNY117.5M CNY
Sales and marketing expenses-43.9M CNY-41.3M CNY-40.7M CNY
General and administrative expenses-31.0M CNY-22.6M CNY-23.6M CNY
Research and development expenses-18.0M CNY-12.8M CNY-11.9M CNY
Reversal of (provision for) credit losses-1.4M CNY1.8M CNY3.7M CNY
Total operating expenses-94.4M CNY-74.9M CNY-72.5M CNY
Operating income (loss)-70.5M CNY16.4M CNY45.0M CNY
Interest income96.0K CNY231.0K CNY312.0K CNY
Interest expense-3.4M CNY-4.0M CNY-4.4M CNY
Unrealized gains on short-term investments127.0K CNY209.0K CNY
Unrealized foreign exchange gain (loss)-312.0K CNY679.0K CNY
Government subsidy2.3M CNY733.0K CNY2.7M CNY
Other expenses (income)-130.0K CNY146.0K CNY234.0K CNY
Total other expenses, net-1.4M CNY-2.0M CNY-1.2M CNY
Income (loss) before income taxes-71.9M CNY14.4M CNY43.8M CNY
Income tax expenses-11.1M CNY-924.0K CNY-6.3M CNY
Net income (loss)-83.0M CNY13.5M CNY37.5M CNY
Net (income) loss attributable to noncontrolling interests13.2M CNY-2.2M CNY-6.1M CNY
Net income (loss) attributable to the Zhengye Biotechnology Holding Limiteds shareholders-69.8M CNY11.3M CNY31.5M CNY
Foreign currency translation adjustment-1.9M CNY3.0K CNY
Total comprehensive income (loss)-84.9M CNY13.5M CNY37.5M CNY
Total comprehensive (income) loss attributable to non-controlling interest13.2M CNY-2.2M CNY-6.1M CNY
Total comprehensive income (loss) attributable to the Zhengye Biotechnology Holding Limiteds shareholders-71.7M CNY11.3M CNY31.5M CNY
Ordinary shares basic (in Shares)47.3M shares45.7M shares45.7M shares
Ordinary shares diluted (in Shares)47.3M shares45.7M shares45.7M shares

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Corporate structure

Zhengye Biotechnology Holding Ltd sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Zhengye Biotechnology Holding Ltd

  • Zhengye Biotechnology Holding Ltd F4

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Zhengye Biotechnology Holding Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Buildings and improvements$22.4M2 Dec 31, 2025$21.0M5 Dec 31, 2024+7.0%
Construction in progress$87.0K2 Dec 31, 2025$1.3M5 Dec 31, 2024−93.5%
Property and equipment, before depreciation$52.6M2 Dec 31, 2025$48.9M5 Dec 31, 2024+7.6%
Accumulated depreciation$18.8M2 Dec 31, 2025$15.3M5 Dec 31, 2024+23.3%
Property and equipment, net$33.9M2 Dec 31, 2025$35.0M5 Dec 31, 2024−3.1%
Operating-lease assets (leased space)$67.0K2 Dec 31, 2025

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.5M5 Dec 31, 2024
Marketable securities, current$212.0K2 Dec 31, 2025$183.0K5 Dec 31, 2024+15.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$14.7M2 Dec 31, 2025$9.1M5 Dec 31, 2024+62.2%
Accumulated amortization$8.0M2 Dec 31, 2025$7.0M5 Dec 31, 2024+13.4%
Finite-lived intangibles, net$6.7M2 Dec 31, 2025$2.0M5 Dec 31, 2024+231.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$5.6M2 Dec 31, 2025$8.0M5 Dec 31, 2024−29.8%
Raw materials$1.1M2 Dec 31, 2025$1.0M5 Dec 31, 2024+11.4%
Work in process$2.5M2 Dec 31, 2025$4.5M5 Dec 31, 2024−44.1%
Finished goods$1.9M2 Dec 31, 2025$2.4M5 Dec 31, 2024−20.3%

Leadership

Who has led Zhengye Biotechnology Holding Ltd, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Aiden Han2026
  2. Songlin Song2026–now

Chief operating officer

  1. Zhongyao Liu2026–now
Board members and other officers (6)

Timeline

  1. Jun 25, 2026New chief executive Songlin Song becomes CEO7
  2. Mar 18, 2026New chief executive Aiden Han becomes CEO6

Filings

61 filings to the SEC since October 2021: 2 annual reports, 11 insider forms, 1 large holders, 47 other. The latest 20:

  1. Aug 6, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  2. Jul 21, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  3. Jun 25, 20263 EDGAR
  4. Jun 25, 20263 EDGAR
  5. Jun 25, 20263 EDGAR
  6. Jun 25, 20263 EDGAR
  7. Jun 25, 20263 EDGAR
  8. Jun 4, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  9. Apr 28, 202620-F ANNUAL REPORT EDGAR
  10. Apr 24, 20263 EDGAR
  11. Apr 24, 20263 EDGAR
  12. Mar 25, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  13. Mar 18, 20263 EDGAR
  14. Mar 18, 20263 EDGAR
  15. Mar 18, 20263 EDGAR
  16. Mar 18, 20263 EDGAR
  17. Mar 2, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  18. Feb 23, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  19. Dec 12, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  20. Oct 22, 2025144 EDGAR

The 61 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Zhengye Biotechnology Holding Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARZhengye Biotechnology Holding Ltd1
  • CIK0001975641
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inCayman Islands4
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business addressNo.1 Lianmeng Street, Jilin Economic &, Technical Development Zone, Jilin, China1
  • Phone86-138448019191
  • Shares outstanding47,391,376 shares as of Dec 31, 20254
  • AuditorWWC, P.C., San Mateo, California PCAOB ID 1171; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceAug 4, 20231
  • Filings61 in all: 6-K (12), 3 (11), UPLOAD (5), CORRESP (4), F-1/A (4), FWP (4), DRS/A (3), DRSLTR (3)1
    All 19 form types

    144 (2), 20-F (2), EFFECT (2), POS AM (2), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), F-1 (1), NT 20-F (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (20-F) Apr 28, 2026

Securities registered for trading

ClassSymbolExchange
Class A Ordinary SharesZYBTThe Nasdaq Stock Market

From the cover page of the 20-F filed Apr 28, 2026 (Section 12(b) of the Exchange Act).4

Sources

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