YANGZHOU, China,
Feb. 21,
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 company Hainan Guoxie Medical
Technology Co. ("Hainan Guoxie"), has entered into cooperation
agreement (the "Qionghai Agreement") with Qionghai City of Hainan
Province to build technology park project. Hainan Guoxie also
entered into cooperation agreement (the "Hope City Agreement") with
Hainan Free Trade Port Boao Hope City ("Hope City") to build MHUA a
medical research and development center in the Hope City.
Pursuant to the Qionghai Agreement, Hainan Guoxie plans to
invest in the construction of a medical industrial park in
Hainan Province for the will be
focused on the development of minimally invasive interventional
medical devices, new materials and surgical robotics technologies.
Hainan Guoxie and Qionghai City government reached preliminary
agreement to bid for the usage of nearly 574,080 sq ft of land around Hope City for
the construction of a Contract Development and Manufacturing
Organization (CDMO) medical industrial park. The Company
anticipates making a more detailed public announcement of the land
use right purchase information in about one month's time.
Pursuant to the Hope City Agreement, the planned MHUA medical
R&D center will carry out the research and development of stem
cell to human targeted therapies and rehabilitation training
projects.
Presently, Hope City is the only special medical parkin China,
which was approved by China State
Council in 2013 and offers a series of special policies such
as "licensed medical treatment, licensed research, licensed
operation and licensed international medical technology exchange,"
and is a key project for the construction of the Hainan Free Trade
Port. At present, there are 20 medical institutions involved in
more than 10 projects under construction or planned in the
pipeline, with 51 medical academicians forming the expert advisory
team. In addition, Hope City has established cooperation with 30 of
the top international pharmaceutical and medical devices
enterprises, serving as one of the main channels for the
importation of innovative products into China. The volume of
licensed medicines and medical devices imported has exceeded 200
categories, effectively facilitating the advancement of medical
technology, devices and medicine development in China to catch up with the international
market.
MHUA's project is highly valued by the local government of Hope
City, who recently paid a special visit to the Company's
headquarters. Mr. Liu Yongjun, chairman of MHUA, commented:
"Hainan has many advantageous
conditions as China's national free trade port, which will provide
many convenience for MHUA's products exporting to foreign markets,
new product research and development, and taxation, among other
things. It is a great honor for us that Qionghai City and Hope City
selected the Company as one of the contracted companies to promote
medical industry projects locally. MHUA will strive to improve the
level of intelligence, information technology, digitalization and
innovation, and accelerate the transformation and upgrade of our
business, in order to promote the Company's high-quality
development and create sustainable value for our shareholders."
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 eye drop bottles,
medicine bottles and anal bags, and Class II and III disposable
medical devices, such as identification tape, gynecological
examination kits, inspection kits, surgical kits, medical brushes,
medical dressing, masks, disposable infusion pumps, electronic
pumps and puncture kits, which products are sold under its own
brands and also sourced and distributed from other manufacturers.
The Company has received international "CE" certification and ISO
13485 system certification and has also registered with the FDA
(registration number: 3006554788) for more than 20 products. The
Company has served hospitals, pharmacies, medical institutions and
medical equipment companies for over 30 years, providing more than
800 types of products for domestic sales, as well as 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 July 29, 2022, 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.
