Zhengye Biotechnology Holding Limited announced that it will adopt a dual‑class share structure effective April 7 2026. Shareholders approved the change at the annual general meeting on March 24 2026. The new structure will be reflected in trading on the Nasdaq Capital Market under the ticker ZYBT.
Under the new arrangement the company will issue 1,900,000,000 Class A ordinary shares, each carrying one vote, and 100,000,000 Class B ordinary shares, each carrying twenty votes. Class B shares are convertible into Class A shares at the holder’s option, while Class A shares cannot be converted into Class B shares. The authorized share capital has been reclassified to 2,000,000,000 ordinary shares with a par value of US$0.000025 each, for a total authorized capital of US$50,000. The amended and restated memorandum and articles of association have been adopted and are effective.
Zhengye Biotechnology is a veterinary vaccine manufacturer headquartered in Jilin, China, that produces 50 approved livestock vaccines and distributes them across 28 provincial regions. The company also exports to Vietnam, Pakistan, and Egypt. In fiscal year 2024 the company reported net revenues of RMB186.4 million, down 11.95% from RMB211.7 million in fiscal year 2023, and net income of RMB13.5 million, down from RMB37.5 million in fiscal year 2023. Gross profit margin fell from 55.5% to 49.0%. The stock trades at $0.88, 94% below its 52‑week high of $14.30.
The dual‑class structure is intended to give controlling shareholders greater voting power while maintaining a single share class for public investors. Management has indicated that the change supports the company’s long‑term strategic vision, which includes strengthening research and development, expanding into international markets, and enhancing production capacity. A Chairman’s letter dated February 10 2026 highlighted these priorities and noted that the dual‑class structure will help preserve the founders’ ability to guide the company’s growth while still allowing public investors to participate in the capital market.
The change does not alter Zhengye’s capital base or financial statements, but it represents a significant shift in governance that may affect future capital allocation and strategic decisions. Investors will likely monitor how the concentrated voting power is exercised and whether it influences the company’s risk profile and accountability. The new share structure will take effect on April 7 2026, and the shares will trade on Nasdaq under the ticker ZYBT.
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