YANGZHOU, China, May 1, 2023
/PRNewswire/ -- Meihua International Medical Technologies Co., Ltd.
("MHUA" or the "Company") (NASDAQ: MHUA), a reputable manufacturer
and provider of Class I, II and III disposable medical devices with
operating subsidiaries in China,
today announced the Company, via its subsidiary Hainan Guoxie
Technology Group Co., Ltd. ("Hainan Guoxie"), has completed the
purchase of land use rights in the South of Hainan Free Trade Port
Boao Hope City ("Hope City") in Qionghai city for investment and
construction of an integrated medical industrial park.
Pursuant to the construction land use right contract signed
between the City of Qionghai and Hainan Guoxie, the Company will
pay a total of RMB24.06 million for
the right to use the land for the next 50 years. The land has a
total area of 47,970.52 square meters, and MHUA will complete the
final payment for the land use right purchase by May 10, 2023.
MHUA plans to develop a comprehensive industrial park on the
land, including a product research and development, production and
sales training center, and imported/exported product assembly and
technology license-in projects. It will also have a hospital and a
retirement and rehabilitation-integrated service center. The
construction of the industrial park is expected to be completed by
the end of 2024, and the Company will start operating the
industrial park with cooperation partners soon thereafter.
Mr. Liu Yongjun, Chairman of MHUA, commented: "The Company
announced its entry into the cooperation agreement with the City of
Qionghai in Hainan Province in
February, for purposes of developing a medical industrial park in
Hainan Province. The medical
industrial park will be focused on products such as minimally
invasive interventional medical devices and equipment, health care
consumables, and stem cell therapy. The Company successfully
obtained land use rights for a core property near Qionghai and Hope
City, building a solid foundation for our plan to invest in the
construction of the integrated medical industrial park. The Company
also aims to further expand its project-based cooperation with
other industry parties in order to better utilize the local support
policies provided by Hope City and Hainan province.
"Our subsidiary, Hainan Guoxie, which is 55% owned by our
wholly-owned subsidiary, Kang Fu International Medical, was founded
in October of 2021 in the City of Qionghai in Hainan Province. Hainan Guoxie aims to
increase investment in Hainan
under China's key development
policy by taking advantage of its tax allowances, licensed medical
offshore introduction policy, and excellent recreational
environment. With this, we believe we can create a fully developed
medical industrial park within the next 10 years, thus allowing us
to increase the MHUA's technology development and sustainable cash
flow profitability. The project is led by the Hainan Qionghai
government to assist MHUA in localizing its business operations in
Hainan. Over the next five years,
we believe medical informatization, digitalization and brand
establishment will become the core strategic directions of MHUA,
supporting the Company to accelerate growth through seeking
domestic and international cooperation. Further, we believe it will
serve as an engine to continuously strengthen MHUA's capacity,
profitability and help us build a first-class team and brand,
best-in-class solutions and services at the Company to fuel the
rapid development of our business."
About Meihua International Medical Technologies Co.,
Ltd.
Meihua International Medical Technologies is a reputable
manufacturer and provider of Class I, II and III disposable medical
devices with operating subsidiaries in China. The Company
manufactures and sells Class I disposable medical devices, such as
HDPE bottles for tablets and LDPE bottles for eye drops,
throat strip, and anal bags, and Class II and III disposable
medical devices, such as disposable identification bracelets,
gynecological examination kits, inspection kits, surgical kits,
medical brushes, medical dressing, medical catheters, uterine
tissue suction tables, virus sampling tubes, disposable infusion
pumps, electronic pumps and anesthesia puncture kits, among other
products which are sold under Meihua's own brands and are also
sourced and distributed from other manufacturers. The Company has
received an international "CE" certification and ISO 13485 system
certification and has also registered with the FDA (registration
number: 3006554788) for over 20 Class I products. The Company has
served hospitals, pharmacies, medical institutions and medical
equipment companies for over 30 years, providing over 1,000 types
of products for domestic sales, as well as over 120 products which
are exported to more than 30 countries internationally
across Europe, North America, South
America, Asia, Africa and Oceania. For more
information, please visit www.meihuamed.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's ability to achieve its goals and
strategies, and its ability to fully execute on the planned
agreement, the Company's future business development and plans of
future business development, including its ability to successfully
develop robotic assisted surgery systems and obtain licensure and
certification for such systems, financial conditions and results of
operations, product and service demand and acceptance, reputation
and brand, the impact of competition and pricing, changes in
technology, government regulations, fluctuations in general
economic and business conditions in China, and assumptions
underlying or related to any of the foregoing and other risks
contained in reports filed by the Company with the U.S. Securities
and Exchange Commission ("SEC"). For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC,
including under the section entitled "Risk Factors" in its annual
report on Form 20-F, as filed with the SEC on April
14, 2023, as well as its current reports on Form 6-K and other
filings, all of which are available for review at www.sec.gov.
The Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after the date hereof.
For more information, please contact:
Janice Wang
Wealth Financial Services LLC
Phone:
+86 13811768599
+1 628 283 9214
Email: services@wealthfsllc.com
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SOURCE Meihua International Medical Technologies Co., Ltd.
