Ridgetech Inc. (NASDAQ: RDGT)

Ridgetech, Inc. is a holding company incorporated in the Cayman Islands that conducts substantially all of its business operations in China. Following the disposition of its retail pharmacy business, the company focuses on the wholesale distribution of pharmaceutical products through both offline and online channels.

The company generates revenue by selling third party pharmaceutical products including prescription drugs over the counter drugs nutritional supplements traditional Chinese medicine products medical devices health foods cosmetics and daily necessities to drug distributors retail pharmacies clinics and third party trading companies. Revenue is derived from direct sales through its self operated online platform as well as through third party e commerce platforms and from offline wholesale distribution via its subsidiary Jiuxin Medicine.

The company operates through the following segments: Jiuxin Medicine and Allright.

• Jiuxin Medicine engages in the offline wholesale distribution of third party pharmaceutical products such as prescription and over the counter drugs nutritional supplements traditional Chinese medicine personal and family care items medical devices and convenience products primarily to trading companies throughout China.

• Allright operates in the B2B sector providing wholesale distribution and online sales through self operated and third party platforms with a focus on pharmaceuticals medical devices health foods cosmetics and daily necessities serving retail pharmacies clinics and other vendors nationwide.

The wholesale pharmaceutical distribution industry in China is competitive and highly fragmented with regional players such as Zhengchen Pharmaceutical Co., Ltd. and Hangzhou Xiaoran Pharmaceutical Co., Ltd. and national operators like Fengwoda Pharmaceutical Co., Ltd. and Jiuzhoutong Pharmaceutical Co., Ltd. possessing greater logistics capacity and financial resources. Ridgetech, Inc. differentiates itself through its GSP certifications for both Jiuxin Medicine and Allright its established supply agreement with Jiuzhou Pharmacy and its growing online platform that offers medication guidance sales management and customer health solutions.

The company serves a diverse customer base that includes retail pharmacies clinics and third party trading companies across China. As of June 2025 it reported more than 150,000 customers and over five thousand product varieties. While specific customer names are not disclosed the filings indicate that two customers accounted for 67.1 percent and 18.7 percent of revenue from continuing operations for the fiscal year ended March 31 2025.