Ridgetech Strengthens Pharmaceutical Ecosystem Leadership with Vice-President Role in Zhejiang Biomedical Association

HANGZHOU, China, July 24, 2026 /PRNewswire/ -- Ridgetech, Inc. (Nasdaq: RDGT) ("Ridgetech" or the "Company"), a wholesale distributor of pharmaceutical and other healthcare products in China, today announced that its wholly owned offline pharmaceutical wholesale distribution platform, Zhejiang Jiuxin Medicine Co., Ltd. ("Jiuxin Medicine"), has been elected as a vice-president unit of the Hangzhou Qiantang District Biomedical and Cosmetic High-Quality Development Association (the "Association"), which is scheduled to be officially inaugurated on July 28, 2026. The appointment reflects industry recognition of Jiuxin Medicine's efforts to advance pharmaceutical supply chain transparency and its pioneering implementation of full-variety drug traceability code scanning across Zhejiang Province.

Association Mandate and Industry Recognition

The Association was established to promote the high-quality development of the regional biomedical sector, encompassing pharmaceuticals, medical devices, and cosmetics. In March 2026, a delegation of officials and regulators from the Zhejiang Medical Products Administration (the "MPA") conducted an on-site inspection of Jiuxin Medicine to assess the operational effectiveness of its full-variety drug traceability code scanning initiative, gather feedback from pharmaceutical manufacturers, and facilitate cross-sector collaboration on the development of province-wide traceability infrastructure. During the visit, the MPA recognized Jiuxin Medicine's progress in implementing the initiative and encouraged continued collaboration to further enhance the intelligence and efficiency of traceability management while balancing regulatory compliance with operational efficiency.

Technology-Enabled Distribution Excellence

Under Ridgetech's dual-engine strategic framework, Jiuxin Medicine and Allright (Hangzhou) Internet Technology Co., Ltd. ("Allright"), the Company's online pharmaceutical and healthcare products distribution platform, serve as two core growth pillars. Jiuxin Medicine primarily focuses on B2B pharmaceutical distribution and supply chain solutions, while strategically collaborating with Allright to advance the integration of Ridgetech's pharmaceutical and healthcare ecosystem.

In its operations, Jiuxin Medicine leverages AI-enabled technologies and big-data analytics in conjunction with the drug traceability code system to enhance real-time visibility across the distribution process, enabling timely and accurate identification, interception, and traceability of pharmaceutical products when necessary. The Company is also actively exploring opportunities to leverage traceability data to identify transportation and distribution bottlenecks in real time, with the goal of optimizing efficiency across the broader supply chain network.

Policy Context: The National Drug Traceability Reform

Zhejiang Province is among China's pioneering regions in advancing comprehensive drug traceability reform. Through the implementation of full-variety drug traceability code scanning, Zhejiang has taken a leading role in establishing a traceability framework designed to cover the full lifecycle of pharmaceutical products.

The drug traceability code is a unique electronic identifier assigned to individual pharmaceutical packages, enabling relevant parties to record and track the movement of products throughout the supply chain. The traceability framework requires key stages of the pharmaceutical lifecycle—including manufacturer shipment, wholesale receipt and outbound distribution, retail pharmacy and hospital receipt, and dispensing—to be recorded through traceability code scanning. In applicable scenarios, successful traceability code scanning is linked to medical insurance settlement under the "payment based on code" mechanism.

Under the national drug traceability reform roadmap, full traceability data uploads became mandatory for designated healthcare providers effective January 1, 2026.

Management Commentary

Mr. Frank Zhao, Interim Chief Executive Officer and Chief Financial Officer of Ridgetech, commented: "We are truly honored that Jiuxin Medicine has been elected as a vice-president unit of the Association. This recognition is a testament to our achievements to date and a meaningful call to action for our future endeavors. As Zhejiang continues to advance national drug traceability reform, we are committed to remaining at the forefront of compliance, innovation, and operational excellence.

"Our dual-engine strategy, anchored by Jiuxin Medicine's offline B2B distribution capabilities and Allright's online distribution platform, positions us to capture synergies across the pharmaceutical value chain. We believe that through disciplined execution and the deeper integration of emerging technologies, including AI and big data, we can continue to strengthen our competitive advantages, enhance supply chain resilience, and pursue sustainable, high-quality growth across our pharmaceutical ecosystem."

About Ridgetech, Inc.

Ridgetech, Inc. ("Ridgetech" or the "Company"), is a growing online and offline wholesale distributor of pharmaceutical and other healthcare products in China. Ridgetech actively trades on popular online distribution platforms nationwide and has its own online distribution platform. The Company believes that trading on these platforms offers greater opportunities to distribute pharmaceutical products nationwide. For more information about the Company, please visit www.ridgetch.com. The Company routinely posts important information on its website.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in 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 current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements include, but are not limited to, statements concerning the Company's business strategies, growth initiatives, operational capabilities, and anticipated benefits from its pharmaceutical distribution, supply chain, and ecosystem development activities. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. The Company undertakes no obligation to update 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 can give no assurance that such expectations will prove to be correct. Factors that could cause actual results or events to differ materially from those reflected in the Company's forward-looking statements including risks related to the Company's ability to satisfy applicable procurement conditions, changes in market demand, the Company's ability to successfully implement and promote its digital platform, and those other risks described in the Company's most recent registration statement, most recent annual report on Form 20-F and in its other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Company Contact: 

Frank Zhao
Interim Chief Executive Officer and Chief Financial Officer
+86-571-88077108
[email protected]

Investor Relations Contact:

Tina Xiao
Ascent Investor Relations LLC
+1-646-932-7242
[email protected]

SOURCE Ridgetech, Inc.