Yangzhou2023/10/31 /PRNewswire/ -- Meihua International Medical Technology Co., Ltd. (“Meihua” or “Company”) (NASDAQ: MHUA), a reputable manufacturer and supplier of first-class, second-class, and third-class disposable medical devices with operating subsidiaries in China, announced today the establishment of a holding subsidiary, Hainan Ruiying Technology Co., Ltd. (“Ruiying Technology”) in the Boao Lecheng Pioneer Zone International Medical Industrial Park (“Lecheng Pioneer Zone”) in Qionghai City, Hainan Province.

The newly established Ruiying Technology Plan makes full use of the policy advantages of the Lecheng Pioneer Zone and focuses on introducing patented pharmaceuticals and medical device technology from markets such as the US, Japan, and Israel to the Chinese market, as well as household equipment for civilian use. As a professional trading and import company, Ruiying Technology's core business scope will include agents and technology to introduce medical products such as hearing aids, ultrasonic headsets, and blood sugar meters.

The company's main position on Ruiying Technology is to introduce advanced technology and brands from abroad, so choosing to set up a subsidiary in the Lecheng Pioneer Zone is of great strategic significance to Meihua. The Lecheng Pioneer Zone policy stipulates that any drug or medical device that has passed the US FDA or EU CE certification can be used and studied directly in the Lecheng Pioneer Zone market, and at the same time submitted to the Hainan Drug Administration for approval. The company believes this will greatly shorten the application and approval time for new drugs or new devices, and also bring great convenience to patients. However, the Lecheng Pioneer Zone is the only medical policy region in China that enjoys this privilege. As the parent company of Ruiying Technology, many of Meihua International's products have passed international CE certification, and some of its products have also been registered with the US FDA. The company believes this move will greatly expand the range of products it operates in the future.

In addition, Ruiying Technology will also cooperate closely with Hainan Guoji Medical Technology Co., Ltd., a subsidiary of Meihua. The former is responsible for technology introduction, while the latter focuses on production and sales. The company believes that this close cooperation will achieve a seamless connection between technology introduction and localized production, reduce material costs, improve linkage efficiency, and enable Meihua International to continuously provide high-quality medical products to the Chinese market.

Mr. Liu Yongjun, Chairman of Meihua International Medical Technology Co., Ltd., commented, “We established Meihua's subsidiary Ruiying Technology in the Lecheng Pioneer Zone in China to establish a professional medical product and technology introduction company. The company's goal is that the establishment of Ruiying Technology can bring new opportunities and development to the Chinese medical industry, promote the advancement of domestic medical technology, and provide Chinese patients with access to better medical services and products. We previously announced the official commencement of the Qionghai Medical Industrial Complex project. The establishment of Ruiying Technology is another milestone in our investment and construction of the Comprehensive Medical Industrial Park. We plan that Meihua will take advantage of Hainan's unique geographical and policy position, seize Hainan's differentiated advantages as China's free trade port, and lay a solid foundation for the company's continued growth in the next stage.”

About Meihua International Medical Technology Co., Ltd.

Meihua International Medical Technologies Co., Ltd. (Meihua International Medical Technologies Co., Ltd.) It is a well-known manufacturer and supplier of Class I, Class II, and Class III disposable medical devices in China, and has operating subsidiaries in China. The company produces and sells Class I disposable medical consumables such as eye drop bottles, medicine bottles, artificial anal bags, etc., and identification wristbands, gynecological examination kits, surgical examination kits, surgical kits, medical brushes, medical dressings, masks, disposable infusion pumps, electronic pumps, puncture packs, etc., and acts as an agent for the distribution of disposable medical devices purchased from other manufacturers. The company has passed international “CE” certification and ISO 13485 system certification, and has registered more than 20 products with the US FDA (registration number: 3006554788). The company has served hospitals, pharmacies, medical institutions and medical equipment companies for more than 30 years. It sells more than 800 products domestically, and exports more than 120 products to more than 30 countries, covering Europe, North America, South America, Asia, Africa and Oceania. For more information, please visit:.

Forward-looking statements

The statements in this press release relating to the Company's future expectations, plans and outlook constitute forward-looking statements as defined by the Private Securities Liability Reform Act of 1995. Forward-looking statements include factual statements about plans, goals, objectives, strategies, future events, expected performance, assumptions, and any other factual statement that has not already occurred. Any wording involving “possible,” “will,” “want,” “should,” “should,” “believe,” “expect,” “anticipate,” “estimate,” or similar unfactual language, particularly regarding the company's listing on the NASDAQ global market and completion of the launch, should be considered a forward-looking statement. Actual results may differ materially from historical results or from what is stated in these forward-looking statements, depending on various factors. These factors include, but are not limited to, the company's strategic goals, the company's future plans, market demand and user acceptance of the company's products or services, technology updates, economic trends, the company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China's macroeconomic conditions, the international market conditions for the company's services, and the risks and related assumptions disclosed in the prospectus. In view of the above and other related reasons, we recommend investors not to blindly rely on these forward-looking statements, and we urge investors to visit the SEC website to check the company's relevant documents for other factors that may affect the company's future operating results. The company has no obligation to publicly revise changes to these forward-looking statements due to specific events or reasons after these documents have been declared.

Janice Wang
Weiss Investor Relations Services, Inc.
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