Recent Updates — RDGT

The board of directors appointed Lingtao Kong, currently Chair of the Board, as Chief Executive Officer effective November 1, 2026. Mr. Kong will serve a two-year term ending October 31, 2028, with an annual cash compensation of HK$840,000 (approximately USD 108,000). Concurrently, Ming Zhao ceased serving as Interim CEO but remains Chief Financial Officer. Mr. Kong will continue to serve as Chair of the Board while managing day-to-day operations and implementing long-term strategy. Ridgetech Inc. operates in the technology sector.

Ridgetech, Inc. reported a net loss of $1.25 million for fiscal year 2026 ended March 31, compared to net income of $10.20 million in the prior year. Revenue increased 10.2% to $132.16 million, driven by a 1,190.8% surge in online platform sales following the acquisition of Allright on February 28, 2025. Gross profit rose 23.8% to $4.75 million with an improved gross margin of 3.6%. The company completed its strategic transition to a wholesale-focused model by divesting its retail drugstore business. Additionally, the filing discloses that all share and per-share amounts have been retroactively adjusted to reflect a 1-for-150 reverse stock split effective April 7, 2026.