Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Summary of Significant Accounting Policies [Abstract]

Schedule of Property, Plant and Equipment Estimated Useful Lives

Property, plant and equipment are stated at cost less accumulated depreciation and impairment loss, if any. Property, plant and equipment are depreciated at rates sufficient to write off their costs less impairment and residual value, if any, over their estimated useful lives on a straight-line basis.

Category		Estimated useful life
Buildings		13 – 30 years
Mechanical equipment		3 – 20 years
Motor vehicles		10 years

Schedule of Estimated Useful Lives of Amortized Intangible Assets

The estimated useful lives of amortized intangible assets are reassessed if circumstances occur that indicate the original estimated useful lives have changed.

Category		Estimated useful life
Purchased software		3 – 5 years
Patent		5 – 10 years

Schedule of Financial Assets Measured at Fair Value on a Recurring Basis

The following tables represent the fair value hierarchy of the Company’s financial assets measured at fair value on a recurring basis as of December 31, 2024 and 2025:

		As of December 31, 2024
		Fair Value Measurement at the Reporting Date using
		Quoted price in active markets for identical assets Level 1				Significant other observable inputs Level 2				Significant unobservable inputs Level 3				Total
		RMB				RMB				RMB				RMB
Short-term investments:
Investment in marketable equity security (i)			1,334				-				-				1,334
Derivative assets
Foreign currency swap contracts (ii)			-				95				-				95
Interest rate swap contracts (ii)			-				4				-				4
			1,334				99				-				1,433

		As of December 31, 2025
		Fair Value Measurement at the Reporting Date using
		Quoted price in active markets for identical assets Level 1				Significant other observable inputs Level 2				Significant unobservable inputs Level 3				Total
		RMB				RMB				RMB				RMB
Short-term investments:
Investment in marketable equity security (i)			1,480				-				-				1,480
Derivative assets
Foreign currency swap contracts (ii)			-				53				-				53
Interest rate swap contracts (ii)			-				27				-				27
			1,480				80				-				1,560

(i)

Jilin Zhengye had investment in common shares of Jiangxi Zhengbang Technology Co., Ltd. (“Zhengbang”), which is a public company listed on Shanghai Stock Exchange. The investment in Zhengbang with readily determinable fair value is measured and recorded at fair value using the market approach based on the quoted prices in active markets at the reporting date.

(ii)

Jilin Zhengye entered into foreign currency swap contracts and cross-currency interest rate swap contracts on November 28, 2024 with a commercial bank to (i) exchange its funds denominated in RMB for Japanese Yen (“JPY”) at a fixed exchange rate of 0.047840 with the notional amount of RMB20,222; and (ii) exchange the monthly floating rate interest payment denominated in JPY (see Note 12) for a fixed rate of 3.15% interest payment denominated in RMB. The foreign currency swap contracts and cross currency interest rate swap contracts will be terminated on November 24, 2025 and November 25, 2025, respectively. Jilin Zhengye determined the foreign currency swap contracts and cross currency interest rate swap contracts as non-designated derivative instruments, which are remeasured to fair value at each reporting date and the fair value of foreign currency swap contracts is based on market quotes for foreign currencies and interest rate swaps are based on market interest curves. As observable inputs are available for these derivatives, they have been classified in Level 2. Changes in the fair value of foreign currency swap derivative and interest rate swap derivative are recognized in the consolidated statements of operations and comprehensive income (loss) as unrealized gains on short-term investments.

Jilin Zhengye entered into foreign currency swap contracts and cross-currency interest rate swap contracts on November 7, 2025 with a commercial bank to (i) exchange its funds denominated in RMB for Japanese Yen (“JPY”) at a fixed exchange rate of 0.046410 with the notional amount of RMB10,568; and (ii) exchange the monthly floating rate interest payment denominated in JPY (see Note 12) for a fixed rate of 2.89% interest payment denominated in RMB. The foreign currency swap contracts and cross currency interest rate swap contracts will be terminated on November 5, 2026 and November 6, 2026, respectively. Jilin Zhengye determined the foreign currency swap contracts and cross currency interest rate swap contracts as non-designated derivative instruments, which are remeasured to fair value at each reporting date and the fair value of foreign currency swap contracts is based on market quotes for foreign currencies and interest rate swaps are based on market interest curves. As observable inputs are available for these derivatives, they have been classified in Level 2. Changes in the fair value of foreign currency swap derivative and interest rate swap derivative are recognized in the consolidated statements of operations and comprehensive income (loss) as unrealized gains on short-term investments.