Zhengye Biotechnology is a veterinary vaccine manufacturer operating in China that researches, develops, manufactures, and sells vaccines for livestock, particularly swine, in the forms of live, inactivated, and subunit vaccines. The company generates revenue by selling these veterinary products to distributors and directly to livestock farming operations across mainland China, recognizing revenue upon transfer of control to customers and offering volume-based rebates to distributors. Zhengye operates through its principal subsidiary in Jilin Province and holds technology licensing agreements with Chinese research institutes and universities to support its vaccine development capabilities.