Core Viewpoint - Zhejiang Haizheng Pharmaceutical Co., Ltd. has announced the establishment of a joint venture with Zhongyu Pet Food (Luohe) Co., Ltd. to enhance its strategic layout in the animal health non-drug sector, particularly in pet food production and sales [1][23]. Group 1: Joint Venture Details - The joint venture will be named Zhejiang Haizheng Zhongyu Animal Nutrition Technology Co., Ltd. and will focus on the production, research, and sales of pet prescription food [5][6]. - Haizheng Dongbao will contribute 3,000 million RMB (60% of the registered capital) and Zhongyu Pet Food will contribute 2,000 million RMB (40% of the registered capital) [5][6]. - The total investment planned for the joint venture's future projects is 236.1 million RMB, with 204.3 million RMB requiring approval [8]. Group 2: Financial and Operational Background - Zhongyu Pet Food reported total assets of 562.82 million RMB and a net profit of 72.64 million RMB for the year 2024, with a revenue of 627.77 million RMB [4]. - As of September 30, 2025, Zhongyu Pet Food's total assets increased to 896.95 million RMB, with a net profit of 84.94 million RMB for the first nine months of 2025 [4]. Group 3: Governance and Rights - The joint venture's governance structure includes a board of directors with five members, where Haizheng Dongbao can nominate three directors and Zhongyu Pet Food can nominate two [11]. - Shareholders have rights to information, including access to accounting records and other relevant data [15]. Group 4: Project Development and Financing - The project will be developed in two phases over four years, with a total investment of 497.17 million RMB, including construction costs and working capital [23][24]. - The company plans to apply for a bank loan of 334.12 million RMB to fund the construction phase [23].

Group 1 - The core project is the flexible production line renovation project for synthetic biology at Zhejiang Haizheng Pharmaceutical Co., Ltd., with a total investment of 171.06 million yuan, including 5.1 million yuan for environmental protection [2][4]. - The project aims to produce 72,000 tons of 60% liquid glucose, 93,816 tons of 30% liquid glucose, 1,500 tons of yeast, and various other products annually, including 2,000 tons of HS31101 sulfate and 1,000 tons of HS31101 hydrochloride [2][3]. - The project will utilize existing production lines in the Y108, Y109, Y110, Y112, and Y27 workshops at the Yantou plant [2][3]. Group 2 - The fourth Synthetic Biology and Green Bio-Manufacturing Conference (SynBioCon 2025) will be held in Ningbo, Zhejiang, from August 20 to 22, focusing on five key areas: AI + biological manufacturing, green chemicals and new materials, future food, future agriculture, and beauty raw materials [5][6]. - The conference aims to explore the development trends of the bio-manufacturing industry during the 14th Five-Year Plan and discuss innovative technologies and products that will sustain the industry [5].