Business
Zhengye Biotechnology Holding Limited Announces Fiscal Year 2024 Financial Results
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.
About this update from Zhengye Biotechnology Holding Limited
[{"type":"text","content":"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.","length":416,"tagName":"p"},{"type":"text","content":"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.","length":645,"tagName":"p"},{"type":"text","content":"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.","length":723,"tagName":"p"},{"type":"text","content":"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.","length":392,"tagName":"...