UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ OR ☐ SHELL COMPANY REPORT PURSUANT ...

YANGZHOU, China, April 25, 2025 /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 its financial results for the fiscal year ended December 31, 2024. All amounts below are in U.S. dollars.Fiscal Year 2024 Financial Metrics: Revenues remained stable and decreased slightly to $96.91 million for the year ended D ...

YANGZHOU, China, Sept. 20, 2024 /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 reported its unaudited financial results for the six months ended June 30, 2024. All amounts below are in U.S. dollars. First Half 2024 Unaudited Financial Metrics: Revenues was approximately $45.3 million for the six months ended June 3 ...

Exhibit 99.1 INDEX TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MEIHUA INTERNATIONAL MEDICAL TECHNOLOGIES CO., LTD. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS TABLE OF CONTENTS Page | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------|-------| | Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 | F-2 | | | | | Unaudited Condensed Consol ...

YANGZHOU, China, July 31, 2024 /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 that its NT-2000 surgical path analysis system successfully supported the world's second* 5G remote robot-assisted lobectomy. This procedure, we believe the first of its kind in China's Yangzi Delta area, was performed on July 15 ...

YANGZHOU, China, July 1, 2024 /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 that its board of directors (the "Board") has approved and authorized a share repurchase program of up to $3 million of the Company's outstanding ordinary shares (the "Share Repurchase Program"). The Company intends to cancel all ...

YANGZHOU, China, June 11, 2024 /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, is pleased to announce that its management team will present and host one-on-one meetings with investors at the Sidoti Small Cap Conference, and will provide an update at the Emerging Growth Conference, both events taking place on June 13, 2024 ...

Meihua International Medical Technologies Co., Ltd. invites individual and institutional investors as well as advisors and analysts, to attend its real-time, interactive presentation at the Emerging Growth Conference.YANGZHOU, China, May 7, 2024 /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, is pleased to announce that i ...

IPO and Financial Overview - Meihua International completed its IPO on February 18, 2022, selling 3,940,000 Ordinary Shares at a price of $10.00 per share, raising approximately $35 million[284]. - The total net proceeds from the IPO were approximately $34,576,000 after deductions[285]. - The Company believes it was defrauded by Tai He, which never invested the promised $35 million in the IPO[288]. - The Company has written off approximately $4.8 million in deposits and fully expensed $2.3 million in service fees related to the Tai He Agreements for the year ended December 31, 2022[289]. - For the fiscal year ended December 31, 2023, the Company recognized revenues of $97,098,915, with own brand sales accounting for 49.64%[295]. - Domestic direct end users and distributor customers accounted for 99.50% of revenues in the fiscal year ended December 31, 2023[296]. Capital and Dividend Policies - For the year ended December 31, 2022, Meihua transferred $26,010,150 to Kang Fu International Medical as a working capital loan[275]. - Kang Fu International Medical contributed $20,389,970 to its PRC subsidiaries as a capital contribution during the same period[276]. - No dividends or distributions have been made to the Company for the years ended December 31, 2021, 2022, and 2023, with earnings intended for R&D and production capacity expansion[279]. - Meihua's subsidiaries are required to set aside at least 10% of after-tax profits to fund a statutory reserve until it reaches 50% of registered capital, which is not distributable as cash dividends[280]. - The PRC government may impose stricter capital controls affecting the ability of subsidiaries to distribute dividends in the future[281]. Product Portfolio and Sales - The Company has a total of 2,558 products in its portfolio, including 2,406 for domestic sales and 152 for overseas sales[300]. - The top product, Disposable ID bracelet, accounted for 11.72% of sales in 2023[302]. - The sales through distributors accounted for 91.68% of revenues in the fiscal year ended December 31, 2023[297]. - For the fiscal year ended December 31, 2023, total revenues from direct end user customers and domestic distributor customers amounted to $96,618,077, constituting approximately 91.18% of total revenues[321]. - The company has secured approximately 6,799 customers through its distributors, both domestically and internationally, and aims to expand its customer base further[336]. Production Capacity and Facilities - The company completed the construction of a new factory in 2022 with a total cost of approximately $1.2 million, expanding production capacity for medical and civil non-woven products[314]. - The new production lines installed in the factory have an annual production capacity of approximately 45 million masks and 90 million testing papers[314]. - The company has installed 10 production lines in the new factory by 2023, with a total cost of approximately $2.8 million[314]. - The company operates a massive distribution network with 3,424 domestic distributors and 339 exporting distributors[351]. - The company has 12 purification plants covering a total area of approximately 110,352 square feet (10,252 square meters) to enhance production efficiency[354]. Research and Development - The company invested approximately $2.8 million, $3.0 million, and $2.7 million in R&D expenses for the years ended December 31, 2023, 2022, and 2021, respectively[337]. - The company has a total of 69 employees in the R&D department and expects R&D expenses to increase in absolute dollars as new products are developed[337]. - The R&D team consists of 69 employees, representing 11.18% of the total workforce, with a total investment of $2.75 million in product and technology R&D for the fiscal year ended December 31, 2023[356]. - The company holds 27 registered patents and is actively acquiring new patents to meet fast-changing market demands[342]. Quality Control and Compliance - The company has implemented strict quality control policies and inspection protocols to maintain product safety and high standards[377]. - More than 60 categories of products have passed quality system inspections by the China Food and Drug Administration and local authorities, ensuring adherence to quality control standards[360]. - The company has set annual quality targets, with monthly follow-ups and quarterly evaluations to ensure compliance and effectiveness in meeting these targets[361]. - The company is compliant with the registration and filing requirements for all its medical devices as of the report date[440]. - The company has passed several on-site inspections regarding its production and quality management standards, with recommendations of "Passed" or "Rectification within the prescribed period"[445]. Regulatory Environment - The PRC Enterprise Income Tax Law imposes a uniform 25% tax rate on both foreign-invested and domestic enterprises, with certain exceptions for special industries[431]. - The maximum withholding tax rate on dividends from PRC foreign invested companies to overseas investors is 20%, reduced to 10% under certain conditions[413]. - The approval process for Class II and III medical devices involves rigorous inspections and clinical testing, ensuring high safety and efficacy standards for products[368]. - The company is required to have a computerized information management system for traceability of products in its operations of Class III medical devices[451]. - The validity period for advertisement approval numbers for medical products is aligned with the shortest validity period of the product registration certificate, with a maximum of two years if no period is specified[456]. Challenges and Risks - The company faces competitive challenges from major medical device companies with greater resources, making it difficult to compete in high-end product markets[374]. - Limited access to capital has slowed the company's ability to gain additional market share, impacting production capacity expansion and R&D efforts[373]. - The company's production capacity for certain pandemic prevention products is limited, unable to meet current market demand due to funding and equipment constraints[373]. - A legal proceeding has been initiated against the company, claiming joint and several liability for payment of $2.3 million, with potential additional losses from June 2022[396].

Exhibit 99.1 Meihua International Medical Technologies Co., Ltd. Reports 2023 Financial Year Results YANGZHOU, China, April 24, 2024 /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 reported its financial results for the fiscal year ended December 31, 2023. All amounts below are in U.S. dollars. Fiscal Year 2023 Fina ...