YANGZHOU, China, Oct. 31,
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, announced today the
establishment of a subsidiary, Hainan Ruiying Technology Co., Ltd.
("Ruiying Technology"), in the Hainan Free Trade Port Boao Hope
City ("Hope City") in Qionghai City, Hainan Province.
With our newly developed company, Ruiying Technology, we intend
to leverage the exceptional policy advantages offered by Hope City,
with the aim of advancing the Chinese medical landscape by
introducing cutting-edge patented pharmaceuticals, medical
technologies and civilian household equipment from renowned markets
like the United States,
Japan, and Israel. The core focus of Ruiying Technology,
which will serve as a trading and import-export company, will be in
acting as a portal and facilitating the introduction of new medical
technology, devices and equipment to the market, including
state-of-the-art medical devices including hearing aids, ultrasonic
earwax cleaners, and advanced blood glucose meters.
For the Company, the establishment of our subsidiary Ruiying
Technology in Hope City holds strategic importance as it enables
the Company to spearhead the introduction of advanced global
technologies and esteemed brands into the Chinese market. Hope
City's progressive policies allow for the direct use and real-world
data research of new drugs or medical devices that have been
certified by the U.S. Food and Drug Administration ("U.S. FDA") or
the European Union CE certification, and also enables simultaneous
approval applications to the Hainan Provincial Medical Products
Administration. We anticipate these policies should significantly
shorten the approval time for new drugs or innovative medical
devices, providing great convenience for patients. Hope City stands
as the sole region within China to
enjoy this remarkable privilege, positioning it as an unparalleled
hub of medical and healthcare industries in China. As the parent company of Ruiying
Technology, many products of the Company have obtained
international CE certification, and some of them have also been
registered with the U.S. FDA. We anticipate that the development of
Ruiying Technology, along with the progressive policies available
in Hope City, will expand the scope of MHUA's product offerings in the future.
Moreover, Ruiying Technology is set to forge a close partnership
with the Company's subsidiary Hainan Guoxie Technology Group Co.,
Ltd. ("Hainan Guoxie"). While Ruiying
Technology will focus on technology introduction, Hainan
Guoxie will remain dedicated to the production and distribution of
medical products and devices. We believe that this collaborative
synergy ensures a seamless fusion of technology importation and
localized production, reducing material costs and improving
operational efficiency, culminating in MHUA's provision of
exceptional, high-quality medical products tailored to the Chinese
market.
Mr. Yongjun Liu, Chairman of
MHUA, commented: "We founded Ruiying Technology, a subsidiary of
MHUA, to establish a professional medical product and technology
import company in Hope City in China. Our goal is for Ruiying Technology to
unlock opportunities and catalyze the development of China's medical industry, and assist in
propelling the advancement of domestic medical technology by
providing Chinese patients with access to superlative medical
services and products. We are committed to the comprehensive
medical industrial park project and its construction, underscoring
the indomitable spirit with which MHUA intends to leverage
Hainan's unique geographical
advantages and harness the distinctive differentiators of
Hainan as China's vanguard free trade port. We believe
these strategic endeavors will establish a solid foundation for the
Company's upcoming phase of continued growth and unwavering
success."
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
amended, filed with the SEC on August 29,
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.
