Yifang Biotech announced that the company previously made an initial public offering of shares and raised a net capital of 1,982 billion yuan. On July 2, 2026, the company agreed to add a wholly-owned subsidiary, Yiqi Biotech as the implementing entity for the “New Drug Research and Development Project” and set up a special fund-raising account. Recently, Yiqi Biotech opened a special account at the Shanghai branch of China Merchants Bank and signed the “Quadripartite Supervision Agreement” with the company, sponsor agency CITIC Securities, and CMB Shanghai Branch. As of July 16, the balance of the special account was $0.0,000.

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