Ridgetech, Inc. (Nasdaq: RDGT), a wholesale distributor of pharmaceutical and healthcare products in China, announced that its subsidiary Zhejiang Jiuxin Medicine Co., Ltd. has been elected as a vice-president unit of the Hangzhou Qiantang District Biomedical and Cosmetic High-Quality Development Association, according to a press release dated July 24, 2026.

The Association is scheduled to be officially inaugurated on July 28, 2026, and was established to promote high-quality development of the regional biomedical sector, covering pharmaceuticals, medical devices, and cosmetics.

In March 2026, officials and regulators from the Zhejiang Medical Products Administration conducted an on-site inspection of Jiuxin Medicine to assess its full-variety drug traceability code scanning initiative. The administration recognized Jiuxin Medicine's progress and encouraged continued collaboration on province-wide traceability infrastructure.

Jiuxin Medicine operates as Ridgetech's offline pharmaceutical wholesale distribution platform, focusing on B2B distribution and supply chain solutions. The company uses AI and big-data analytics alongside the drug traceability code system to monitor product movement across its distribution network.

Zhejiang Province is among the regions advancing China's national drug traceability reform. Full traceability data uploads became mandatory for designated healthcare providers on January 1, 2026. The traceability framework covers manufacturer shipment, wholesale distribution, retail pharmacy and hospital receipt, and dispensing.

Frank Zhao, Interim Chief Executive Officer and Chief Financial Officer of Ridgetech, stated: "As Zhejiang continues to advance national drug traceability reform, we are committed to remaining at the forefront of compliance, innovation, and operational excellence."