{"success":true,"data":{"pressRelease":{"id":"97896","rtpr_id":"nPn5cqGsga","ticker":"RDGT","exchange":"NASDAQ","all_tickers":["RDGT"],"title":"Ridgetech Strengthens Pharmaceutical Ecosystem Leadership with Vice-President Role in Zhejiang Biomedical Association","author":"PR Newswire","published_at":"2026-07-24T12:30:00.812Z","article_body":"Ridgetech Strengthens Pharmaceutical Ecosystem Leadership with Vice-President Role in Zhejiang Biomedical Association\n\nPR Newswire\n\nHANGZHOU, China, July 24, 2026\n\nHANGZHOU, China, July 24, 2026 /PRNewswire/ -- Ridgetech, Inc. (Nasdaq: RDGT)\n(\"Ridgetech\" or the \"Company\"), a wholesale distributor of pharmaceutical and\nother healthcare products in China, today announced that its wholly owned\noffline pharmaceutical wholesale distribution platform, Zhejiang Jiuxin\nMedicine Co., Ltd. (\"Jiuxin Medicine\"), has been elected as a vice-president\nunit of the Hangzhou Qiantang District Biomedical and Cosmetic High-Quality\nDevelopment Association (the \"Association\"), which is scheduled to be\nofficially inaugurated on July 28, 2026. The appointment reflects industry\nrecognition of Jiuxin Medicine's efforts to advance pharmaceutical supply\nchain transparency and its pioneering implementation of full-variety drug\ntraceability code scanning across Zhejiang Province.\n\nAssociation Mandate and Industry Recognition\n\nThe Association was established to promote the high-quality development of the\nregional biomedical sector, encompassing pharmaceuticals, medical devices, and\ncosmetics. In March 2026, a delegation of officials and regulators from the\nZhejiang Medical Products Administration (the \"MPA\") conducted an on-site\ninspection of Jiuxin Medicine to assess the operational effectiveness of its\nfull-variety drug traceability code scanning initiative, gather feedback from\npharmaceutical manufacturers, and facilitate cross-sector collaboration on the\ndevelopment of province-wide traceability infrastructure. During the visit,\nthe MPA recognized Jiuxin Medicine's progress in implementing the initiative\nand encouraged continued collaboration to further enhance the intelligence and\nefficiency of traceability management while balancing regulatory compliance\nwith operational efficiency.\n\nTechnology-Enabled Distribution Excellence\n\nUnder Ridgetech's dual-engine strategic framework, Jiuxin Medicine and\nAllright (Hangzhou) Internet Technology Co., Ltd. (\"Allright\"), the Company's\nonline pharmaceutical and healthcare products distribution platform, serve as\ntwo core growth pillars. Jiuxin Medicine primarily focuses on B2B\npharmaceutical distribution and supply chain solutions, while strategically\ncollaborating with Allright to advance the integration of Ridgetech's\npharmaceutical and healthcare ecosystem.\n\nIn its operations, Jiuxin Medicine leverages AI-enabled technologies and\nbig-data analytics in conjunction with the drug traceability code system to\nenhance real-time visibility across the distribution process, enabling timely\nand accurate identification, interception, and traceability of pharmaceutical\nproducts when necessary. The Company is also actively exploring opportunities\nto leverage traceability data to identify transportation and distribution\nbottlenecks in real time, with the goal of optimizing efficiency across the\nbroader supply chain network.\n\nPolicy Context: The National Drug Traceability Reform\n\nZhejiang Province is among China's pioneering regions in advancing\ncomprehensive drug traceability reform. Through the implementation of\nfull-variety drug traceability code scanning, Zhejiang has taken a leading\nrole in establishing a traceability framework designed to cover the full\nlifecycle of pharmaceutical products.\n\nThe drug traceability code is a unique electronic identifier assigned to\nindividual pharmaceutical packages, enabling relevant parties to record and\ntrack the movement of products throughout the supply chain. The traceability\nframework requires key stages of the pharmaceutical lifecycle—including\nmanufacturer shipment, wholesale receipt and outbound distribution, retail\npharmacy and hospital receipt, and dispensing—to be recorded through\ntraceability code scanning. In applicable scenarios, successful traceability\ncode scanning is linked to medical insurance settlement under the \"payment\nbased on code\" mechanism.\n\nUnder the national drug traceability reform roadmap, full traceability data\nuploads became mandatory for designated healthcare providers effective January\n1, 2026.\n\nManagement Commentary\n\nMr. Frank Zhao, Interim Chief Executive Officer and Chief Financial Officer of\nRidgetech, commented: \"We are truly honored that Jiuxin Medicine has been\nelected as a vice-president unit of the Association. This recognition is a\ntestament to our achievements to date and a meaningful call to action for our\nfuture endeavors. As Zhejiang continues to advance national drug traceability\nreform, we are committed to remaining at the forefront of compliance,\ninnovation, and operational excellence.\n\n\"Our dual-engine strategy, anchored by Jiuxin Medicine's offline B2B\ndistribution capabilities and Allright's online distribution platform,\npositions us to capture synergies across the pharmaceutical value chain. We\nbelieve that through disciplined execution and the deeper integration of\nemerging technologies, including AI and big data, we can continue to\nstrengthen our competitive advantages, enhance supply chain resilience, and\npursue sustainable, high-quality growth across our pharmaceutical ecosystem.\"\n\nAbout Ridgetech, Inc.\n\nRidgetech, Inc. (\"Ridgetech\" or the \"Company\"), is a growing online and\noffline wholesale distributor of pharmaceutical and other healthcare products\nin China. Ridgetech actively trades on popular online distribution platforms\nnationwide and has its own online distribution platform. The Company believes\nthat trading on these platforms offers greater opportunities to distribute\npharmaceutical products nationwide. For more information about the Company,\nplease visit www.ridgetch.com (http://www.ridgetch.com/) . The Company\nroutinely posts important information on its website.\n\nForward-Looking Statements\n\nCertain statements in this press release are forward-looking statements,\nwithin the meaning of Section 21E of the Securities Exchange Act of 1934, as\namended, and as defined in the U.S. Private Securities Litigation Reform Act\nof 1995. These forward-looking statements involve known and unknown risks and\nuncertainties and are based on current expectations and projections about\nfuture events and financial trends that the Company believes may affect its\nfinancial condition, results of operations, business strategy, and financial\nneeds. These forward-looking statements include, but are not limited to,\nstatements concerning the Company's business strategies, growth initiatives,\noperational capabilities, and anticipated benefits from its pharmaceutical\ndistribution, supply chain, and ecosystem development activities. Investors\ncan identify these forward-looking statements by words or phrases such as\n\"may,\" \"will,\" \"expect,\" \"anticipate,\" \"aim,\" \"estimate,\" \"intend,\" \"plan,\"\n\"believe,\" \"potential,\" \"continue,\" \"is/are likely to,\" or other similar\nexpressions. The Company undertakes no obligation to update forward-looking\nstatements to reflect subsequent occurring events or circumstances, or changes\nin its expectations, except as may be required by law. Although the Company\nbelieves that the expectations expressed in these forward-looking statements\nare reasonable, it can give no assurance that such expectations will prove to\nbe correct. Factors that could cause actual results or events to differ\nmaterially from those reflected in the Company's forward-looking statements\nincluding risks related to the Company's ability to satisfy applicable\nprocurement conditions, changes in market demand, the Company's ability to\nsuccessfully implement and promote its digital platform, and those other risks\ndescribed in the Company's most recent registration statement, most recent\nannual report on Form 20-F and in its other filings with the U.S. Securities\nand Exchange Commission.\n\nFor more information, please contact:\n\nCompany Contact:\n\nFrank Zhao\nInterim Chief Executive Officer and Chief Financial Officer\n+86-571-88077108\nfrank.zhao@ridgetch.com (mailto:frank.zhao@ridgetch.com)\n\nInvestor Relations Contact:\n\nTina Xiao\nAscent Investor Relations LLC\n+1-646-932-7242\ninvestors@ascent-ir.com (mailto:investors@ascent-ir.com)\n\nView original\ncontent:https://www.prnewswire.com/news-releases/ridgetech-strengthens-pharmaceutical-ecosystem-leadership-with-vice-president-role-in-zhejiang-biomedical-association-302833883.html\n(https://www.prnewswire.com/news-releases/ridgetech-strengthens-pharmaceutical-ecosystem-leadership-with-vice-president-role-in-zhejiang-biomedical-association-302833883.html)\n\nSOURCE Ridgetech, Inc.\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn5cqGsga","title":"Ridgetech Strengthens Pharmaceutical Ecosystem Leadership with Vice-President Role in Zhejiang Biomedical Association","author":"PR Newswire","ticker":"RDGT","created":"2026-07-24T12:30:00.812Z","tickers":["RDGT"],"exchange":"NASDAQ","article_body":"Ridgetech Strengthens Pharmaceutical Ecosystem Leadership with Vice-President Role in Zhejiang Biomedical Association\n\nPR Newswire\n\nHANGZHOU, China, July 24, 2026\n\nHANGZHOU, China, July 24, 2026 /PRNewswire/ -- Ridgetech, Inc. (Nasdaq: RDGT)\n(\"Ridgetech\" or the \"Company\"), a wholesale distributor of pharmaceutical and\nother healthcare products in China, today announced that its wholly owned\noffline pharmaceutical wholesale distribution platform, Zhejiang Jiuxin\nMedicine Co., Ltd. (\"Jiuxin Medicine\"), has been elected as a vice-president\nunit of the Hangzhou Qiantang District Biomedical and Cosmetic High-Quality\nDevelopment Association (the \"Association\"), which is scheduled to be\nofficially inaugurated on July 28, 2026. The appointment reflects industry\nrecognition of Jiuxin Medicine's efforts to advance pharmaceutical supply\nchain transparency and its pioneering implementation of full-variety drug\ntraceability code scanning across Zhejiang Province.\n\nAssociation Mandate and Industry Recognition\n\nThe Association was established to promote the high-quality development of the\nregional biomedical sector, encompassing pharmaceuticals, medical devices, and\ncosmetics. In March 2026, a delegation of officials and regulators from the\nZhejiang Medical Products Administration (the \"MPA\") conducted an on-site\ninspection of Jiuxin Medicine to assess the operational effectiveness of its\nfull-variety drug traceability code scanning initiative, gather feedback from\npharmaceutical manufacturers, and facilitate cross-sector collaboration on the\ndevelopment of province-wide traceability infrastructure. During the visit,\nthe MPA recognized Jiuxin Medicine's progress in implementing the initiative\nand encouraged continued collaboration to further enhance the intelligence and\nefficiency of traceability management while balancing regulatory compliance\nwith operational efficiency.\n\nTechnology-Enabled Distribution Excellence\n\nUnder Ridgetech's dual-engine strategic framework, Jiuxin Medicine and\nAllright (Hangzhou) Internet Technology Co., Ltd. (\"Allright\"), the Company's\nonline pharmaceutical and healthcare products distribution platform, serve as\ntwo core growth pillars. Jiuxin Medicine primarily focuses on B2B\npharmaceutical distribution and supply chain solutions, while strategically\ncollaborating with Allright to advance the integration of Ridgetech's\npharmaceutical and healthcare ecosystem.\n\nIn its operations, Jiuxin Medicine leverages AI-enabled technologies and\nbig-data analytics in conjunction with the drug traceability code system to\nenhance real-time visibility across the distribution process, enabling timely\nand accurate identification, interception, and traceability of pharmaceutical\nproducts when necessary. The Company is also actively exploring opportunities\nto leverage traceability data to identify transportation and distribution\nbottlenecks in real time, with the goal of optimizing efficiency across the\nbroader supply chain network.\n\nPolicy Context: The National Drug Traceability Reform\n\nZhejiang Province is among China's pioneering regions in advancing\ncomprehensive drug traceability reform. Through the implementation of\nfull-variety drug traceability code scanning, Zhejiang has taken a leading\nrole in establishing a traceability framework designed to cover the full\nlifecycle of pharmaceutical products.\n\nThe drug traceability code is a unique electronic identifier assigned to\nindividual pharmaceutical packages, enabling relevant parties to record and\ntrack the movement of products throughout the supply chain. The traceability\nframework requires key stages of the pharmaceutical lifecycle—including\nmanufacturer shipment, wholesale receipt and outbound distribution, retail\npharmacy and hospital receipt, and dispensing—to be recorded through\ntraceability code scanning. In applicable scenarios, successful traceability\ncode scanning is linked to medical insurance settlement under the \"payment\nbased on code\" mechanism.\n\nUnder the national drug traceability reform roadmap, full traceability data\nuploads became mandatory for designated healthcare providers effective January\n1, 2026.\n\nManagement Commentary\n\nMr. Frank Zhao, Interim Chief Executive Officer and Chief Financial Officer of\nRidgetech, commented: \"We are truly honored that Jiuxin Medicine has been\nelected as a vice-president unit of the Association. This recognition is a\ntestament to our achievements to date and a meaningful call to action for our\nfuture endeavors. As Zhejiang continues to advance national drug traceability\nreform, we are committed to remaining at the forefront of compliance,\ninnovation, and operational excellence.\n\n\"Our dual-engine strategy, anchored by Jiuxin Medicine's offline B2B\ndistribution capabilities and Allright's online distribution platform,\npositions us to capture synergies across the pharmaceutical value chain. We\nbelieve that through disciplined execution and the deeper integration of\nemerging technologies, including AI and big data, we can continue to\nstrengthen our competitive advantages, enhance supply chain resilience, and\npursue sustainable, high-quality growth across our pharmaceutical ecosystem.\"\n\nAbout Ridgetech, Inc.\n\nRidgetech, Inc. (\"Ridgetech\" or the \"Company\"), is a growing online and\noffline wholesale distributor of pharmaceutical and other healthcare products\nin China. Ridgetech actively trades on popular online distribution platforms\nnationwide and has its own online distribution platform. The Company believes\nthat trading on these platforms offers greater opportunities to distribute\npharmaceutical products nationwide. For more information about the Company,\nplease visit www.ridgetch.com (http://www.ridgetch.com/) . The Company\nroutinely posts important information on its website.\n\nForward-Looking Statements\n\nCertain statements in this press release are forward-looking statements,\nwithin the meaning of Section 21E of the Securities Exchange Act of 1934, as\namended, and as defined in the U.S. Private Securities Litigation Reform Act\nof 1995. These forward-looking statements involve known and unknown risks and\nuncertainties and are based on current expectations and projections about\nfuture events and financial trends that the Company believes may affect its\nfinancial condition, results of operations, business strategy, and financial\nneeds. These forward-looking statements include, but are not limited to,\nstatements concerning the Company's business strategies, growth initiatives,\noperational capabilities, and anticipated benefits from its pharmaceutical\ndistribution, supply chain, and ecosystem development activities. Investors\ncan identify these forward-looking statements by words or phrases such as\n\"may,\" \"will,\" \"expect,\" \"anticipate,\" \"aim,\" \"estimate,\" \"intend,\" \"plan,\"\n\"believe,\" \"potential,\" \"continue,\" \"is/are likely to,\" or other similar\nexpressions. The Company undertakes no obligation to update forward-looking\nstatements to reflect subsequent occurring events or circumstances, or changes\nin its expectations, except as may be required by law. Although the Company\nbelieves that the expectations expressed in these forward-looking statements\nare reasonable, it can give no assurance that such expectations will prove to\nbe correct. Factors that could cause actual results or events to differ\nmaterially from those reflected in the Company's forward-looking statements\nincluding risks related to the Company's ability to satisfy applicable\nprocurement conditions, changes in market demand, the Company's ability to\nsuccessfully implement and promote its digital platform, and those other risks\ndescribed in the Company's most recent registration statement, most recent\nannual report on Form 20-F and in its other filings with the U.S. Securities\nand Exchange Commission.\n\nFor more information, please contact:\n\nCompany Contact:\n\nFrank Zhao\nInterim Chief Executive Officer and Chief Financial Officer\n+86-571-88077108\nfrank.zhao@ridgetch.com (mailto:frank.zhao@ridgetch.com)\n\nInvestor Relations Contact:\n\nTina Xiao\nAscent Investor Relations LLC\n+1-646-932-7242\ninvestors@ascent-ir.com (mailto:investors@ascent-ir.com)\n\nView original\ncontent:https://www.prnewswire.com/news-releases/ridgetech-strengthens-pharmaceutical-ecosystem-leadership-with-vice-president-role-in-zhejiang-biomedical-association-302833883.html\n(https://www.prnewswire.com/news-releases/ridgetech-strengthens-pharmaceutical-ecosystem-leadership-with-vice-president-role-in-zhejiang-biomedical-association-302833883.html)\n\nSOURCE Ridgetech, Inc.\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-07-24T12:30:00.874147372Z","server_sent_at_ms":1784896200874},"received_at":"2026-07-24T12:30:00.924Z","source_url":"https://www.prnewswire.com/news-releases/ridgetech-strengthens-pharmaceutical-ecosystem-leadership-with-vice-president-role-in-zhejiang-biomedical-association-302833883.html"},"analysis":{"id":"86935","press_release_id":"97896","analysis_json":{"industry":{"label":"Health Care Equipment & Services","sector":"Health Care"},"redFlags":["Frank Zhao serves as both Interim CEO and CFO"],"eventType":"operations_update","narrative":"Ridgetech's subsidiary Zhejiang Jiuxin Medicine was elected as a vice-president unit of the Hangzhou Qiantang District Biomedical and Cosmetic High-Quality Development Association, scheduled for official inauguration on July 28, 2026.\n\nThe appointment recognizes Jiuxin Medicine's implementation of full-variety drug traceability code scanning across Zhejiang Province, following an inspection by the Zhejiang Medical Products Administration in March 2026.\n\nManagement emphasized that this recognition supports its dual-engine strategy, leveraging Jiuxin's offline B2B capabilities and Allright's online platform to enhance supply chain resilience.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Subsidiary gains leadership role in local biomedical association, validating traceability efforts."},"keyFigures":{},"quotedText":"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.","namedEntities":{"people":[{"name":"Frank Zhao","role":"Interim Chief Executive Officer and Chief Financial Officer"},{"name":"Tina Xiao","role":"Investor Relations Contact"}],"products":[],"companies":[{"name":"Ridgetech, Inc.","ticker":"RDGT"},{"name":"Zhejiang Jiuxin Medicine Co., Ltd.","relationship":"subsidiary"},{"name":"Allright (Hangzhou) Internet Technology Co., Ltd.","relationship":"subsidiary"},{"name":"Hangzhou Qiantang District Biomedical and Cosmetic High-Quality Development Association","relationship":"industry association"},{"name":"Zhejiang Medical Products Administration","relationship":"regulator"},{"name":"Ascent Investor Relations LLC","relationship":"investor relations"}],"dollarAmounts":[]},"materialImpact":{"score":1,"reasoning":"Election of a subsidiary as a vice-president unit of a local industry association provides reputational validation but does not have a material financial impact or change the company's earnings outlook."},"tickerRelevance":{"others":[],"primary":"RDGT"},"globalImportance":10,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"industry-association-role","sectorWeight":"healthcare"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":1,"narrative":"Ridgetech's subsidiary Zhejiang Jiuxin Medicine was elected as a vice-president unit of the Hangzhou Qiantang District Biomedical and Cosmetic High-Quality Development Association, scheduled for official inauguration on July 28, 2026.\n\nThe appointment recognizes Jiuxin Medicine's implementation of full-variety drug traceability code scanning across Zhejiang Province, following an inspection by the Zhejiang Medical Products Administration in March 2026.\n\nManagement emphasized that this recognition supports its dual-engine strategy, leveraging Jiuxin's offline B2B capabilities and Allright's online platform to enhance supply chain resilience.","key_figures":{},"named_entities":{"people":[{"name":"Frank Zhao","role":"Interim Chief Executive Officer and Chief Financial Officer"},{"name":"Tina Xiao","role":"Investor Relations Contact"}],"products":[],"companies":[{"name":"Ridgetech, Inc.","ticker":"RDGT"},{"name":"Zhejiang Jiuxin Medicine Co., Ltd.","relationship":"subsidiary"},{"name":"Allright (Hangzhou) Internet Technology Co., Ltd.","relationship":"subsidiary"},{"name":"Hangzhou Qiantang District Biomedical and Cosmetic High-Quality Development Association","relationship":"industry association"},{"name":"Zhejiang Medical Products Administration","relationship":"regulator"},{"name":"Ascent Investor Relations LLC","relationship":"investor relations"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-24T13:09:26.819Z","global_importance":10,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"industry-association-role","sectorWeight":"healthcare"}},"durationMs":124570,"modelName":"glm-4.7"}}