Ridgetech Strengthens Pharmaceutical Ecosystem Leadership with Vice-President Role in Zhejiang Biomedical Association
Rhea-AI Summary
Ridgetech (Nasdaq: RDGT) announced that its wholly owned offline wholesale subsidiary, Zhejiang Jiuxin Medicine, has been elected a vice-president unit of the Hangzhou Qiantang District Biomedical and Cosmetic High-Quality Development Association, which is scheduled to be officially inaugurated on July 28, 2026.
According to Ridgetech, the role reflects recognition of Jiuxin Medicine’s work on full-variety drug traceability code scanning across Zhejiang and its use of AI and big-data analytics to enhance pharmaceutical supply chain transparency. The company highlights a dual-engine strategy combining Jiuxin Medicine’s offline B2B distribution with Allright’s online platform to integrate its pharmaceutical and healthcare ecosystem.
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Market reaction after vice-president association appointment: RDGT -10.07% in the Jul 24 session
In the Jul 24 session, RDGT declined 10.07%, reflecting a significant negative market reaction. Argus tracked a trough of -6.0% from its starting point during tracking. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 04 | Growth strategy | Positive | -1.9% | Dual-engine strategy outlined customer, B2B growth, online penetration, and supply-chain integration targets. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The available comparable-news record showed a positive strategy announcement followed by a 1.88% decline, indicating divergence between announcement sentiment and price reaction.
Key Terms
drug traceability code regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 (
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
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
"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
frank.zhao@ridgetch.com
Investor Relations Contact:
Tina Xiao
Ascent Investor Relations LLC
+1-646-932-7242
investors@ascent-ir.com
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SOURCE Ridgetech, Inc.