• Zhengye Biotechnology posted a net loss of RMB 82.97 million for fiscal year 2025, reversing from prior-year profit.
• Revenue fell 37.6% to RMB 116.36 million, driven by reduced demand for swine vaccines amid a downturn in the hog market.
• Operating loss widened to RMB 70.51 million as gross margin slid 28.5 percentage points to 20.5% on lower sales prices and unchanged fixed costs.
• Sales mix shifted, with swine vaccine revenue dropping to RMB 90.14 million while other vaccines rose to RMB 13.74 million on higher sheep vaccine sales.
• Management said cash and restricted cash totaled RMB 50.33 million at year-end, with forecast cash flows expected to cover obligations for one year after the financial statements are issued.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Zhengye Biotechnology Holding Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-048584), on April 28, 2026, and is solely responsible for the information contained therein.