UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR THE SECURITIES 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 September 30, 2025 ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report For the transition period from to Commission file number: 0 ...

Core Insights - Jin Medical International Ltd. is focusing on strategic priorities and long-term growth considerations as discussed by CEO Dr. Erqi Wang during a recent CEO Fireside Chat [1][2] Group 1: Reverse Split - The company is considering a reverse stock split to regain compliance with Nasdaq's listing standards and to realign its capital structure with long-term fundamentals [3][4] Group 2: Strategic Plan for Long-Term Value Creation - The company emphasizes clear market communication, disciplined capital allocation, and a long-term perspective in its operational focus [5][6][7] Group 3: 2026–2027 Outlook - The primary objectives for 2026 and 2027 include a disciplined approach to growth, prioritizing repeatable returns and operational stability over rapid, unsustainable growth [7] Group 4: Operating Leverage - Opportunities for improving efficiency lie in broader commercialization, manufacturing scale-up, and cost normalization, with significant potential in manufacturing efficiency and product mix optimization [8][9] Group 5: Chuzhou New Factory – Strategic Importance - The Chuzhou facility is a key investment expected to enhance capacity, automation, and competitiveness, with full production capacity anticipated by the end of April 2026 [10][11] Group 6: Industry Outlook - The industry is expected to experience strong demand driven by aging populations and rising healthcare quality expectations, alongside a shift towards higher compliance and technology integration standards [13] Group 7: US–China Relations & Risk Management - The company is managing geopolitical risks through supply chain diversification and regional manufacturing flexibility to ensure resilience against external policy changes [14][15]

Group 1: Stock Performance - Several healthcare and biotech stocks experienced significant gains in after-hours trading, with movements largely occurring without specific company news [1][2][3][4] - Acumen Pharmaceuticals, Inc. (ABOS) rose by 8.09% to close at $2.94, adding $0.22 to its share price [1] - Fulgent Genetics, Inc. (FLGT) increased by 5.98% to $28.90, gaining $1.63 in extended trading [1] - Fractyl Health, Inc. (GUTS) climbed 5.19% to $2.23, up $0.11 after hours [1] - Coeptis Therapeutics Holdings, Inc. (COEP) finished up 4.14% at $13.85, a gain of $0.55 [2] - Jin Medical International Ltd. (ZJYL) saw an increase of 4.04% to $0.16, up $0.0061 [2] - Alignment Healthcare, Inc. (ALHC) gained 5.92% to $22.20, adding $1.24 in after-hours trading [2] - Orthofix Medical Inc. (OFIX) rose 4.58% to $13.94, up $0.61 [3] - Alto Neuroscience, Inc. (ANRO) advanced 4.52% to $17.57, gaining $0.76 [3] - Immix Biopharma, Inc. (IMMX) increased by 3.87% to $6.17, adding $0.23 [3] - Amneal Pharmaceuticals, Inc. (AMRX) rose 3.76% to $14.35, up $0.52, and is set to replace TTM Technologies in the S&P SmallCap 600 index [3] - Tyra Biosciences, Inc. (TYRA) gained 3.76% to $32.58, adding $1.18 in extended trading [4]

一、国际新闻 国际贵金属市场近期波动显著，现货黄金价格在周二（1月27日）纽约尾盘涨3.52%，刷新历史高位至 5187.37美元/盎司，亚太盘初以来在5013.93-5100美元区间震荡上行，04:00后显著加速走高。 COMEX黄金期货涨1.82%，报5175.10美元/盎司，日内大部分时间持稳于5080美元附近，05:00美股收盘 时（电子交易盘）刷新历史高位至5187.20美元；4月合约涨3.45%，报5217.30美元，一度触及5225.80美 元。 随后，现货黄金突破5190美元/盎司，日内涨幅达3.63%，但亚太时段出现回调，失守5160美元/盎司， 日内跌0.42%。 纽约期金同样呈现震荡，曾突破5220美元/盎司，日内涨1.95%，后失守5200美元/盎司，日内仍涨 1.55%。 白银市场波动更为剧烈，纽约期银日内涨6.66%突破113美元/盎司，随后失守111美元/盎司，日内涨幅 收窄至4.73%。 现货白银同步冲高后回落，突破113美元/盎司后失守111美元/盎司，日内转跌0.88%。 能源市场方面，美国天然气期货价格大幅震荡，先涨超7%至7.284美元/百万英热，随后因产量恢复及需 求 ...

格隆汇1月27日｜纳斯达克中国金龙指数涨超1%，虎牙涨15.97%，金山云涨11.54%，中进医疗涨 8.68%，世纪互联涨7.08%，哔哩哔哩涨4.29%。 ...

Core Insights - Jin Medical International Ltd. will host a fireside chat on February 1, 2026, to discuss its strategic priorities and long-term growth considerations [1] - The company has launched an updated corporate website where the fireside chat will be webcast [2] Company Overview - Jin Medical, founded in 2006 and headquartered in Changzhou, Jiangsu Province, China, specializes in designing, developing, manufacturing, and marketing rehabilitation medical equipment, including wheelchairs and living aids [3] - The company operates two manufacturing plants totaling approximately 230,000 square feet in Changzhou and Taizhou, and is establishing a new facility of 430,000 square feet in Chuzhou, Anhui Province [3] - Jin Medical collaborates with over 40 distributors in China and more than 20 international distributors, with a significant portion of its wheelchair products sold to Japan and China [3] - The company offers more than 30 models of lightweight and ergonomic wheelchairs [3]

Core Viewpoint - Jin Medical International Ltd. is advancing its manufacturing capabilities with the construction of a new facility in Chuzhou, Anhui Province, expected to enhance production of mid-to-high-end electric wheelchairs and senior mobility scooters, aligning with the growing global demand for assistive devices driven by aging populations [1][4]. Company Developments - The Chuzhou facility is projected to achieve full production capacity by the end of April 2026, with an annual output capacity of 200,000 units [1]. - The facility has received regulatory approval for Class I Medical Device production, completing necessary filings with local authorities on December 29, 2025 [1]. - The new facility will utilize automated production lines to improve cost control and product quality consistency [3]. Strategic Importance - The Chuzhou facility is strategically located in the Yangtze River Delta's manufacturing hub, providing geographical and supply chain advantages [2]. - The project is expected to significantly enhance Jin Medical's manufacturing capabilities in premium mobility products, thereby improving market competitiveness [4]. - The completion of this project supports the company's strategic goal of optimizing global production capacities and enhancing supply chain resilience [3]. Industry Context - The expansion of Jin Medical coincides with a growing global demand for assistive devices, driven by the aging trend [4]. - The facility's efficient scaled production is anticipated to create sustained value for shareholders through effective execution of the project [4]. Company Background - Jin Medical, founded in 2006, designs, develops, manufactures, and markets wheelchairs and living aids for people with disabilities and the elderly [5]. - The company currently operates two manufacturing plants totaling approximately 230,000 square feet and is establishing a new facility of 430,000 square feet in Chuzhou [5]. - Jin Medical collaborates with over 40 distributors in China and more than 20 international distributors, with a significant portion of its products sold in Japan and China [5].

Core Viewpoint - Jin Medical International Ltd. is hosting a fireside chat on February 1, 2026, to discuss its strategic priorities and capital structure considerations, aiming to provide transparency into management's decision-making process during this period [1][2]. Group 1: Company Overview - Jin Medical International Ltd. is a leading provider of rehabilitation medical equipment in China, founded in 2006 and headquartered in Changzhou, Jiangsu Province [4]. - The company designs, develops, manufactures, and markets wheelchairs and living aids for people with disabilities and the elderly, operating two manufacturing plants totaling approximately 230,000 square feet in Changzhou and Taizhou, and establishing a new facility of 430,000 square feet in Chuzhou, Anhui Province [4]. - Jin Medical collaborates with over 40 distributors in China and more than 20 international distributors, with a significant portion of its wheelchair products sold to Japan and China [4]. Group 2: Strategic Planning and Market Position - The management team will address recent market developments and outline the framework of the company's ongoing strategic planning efforts during the fireside chat [2]. - The company maintains a strong liquidity position and is actively evaluating various strategic options to enhance its competitive position in the industry, believing these efforts are undertaken from a position of operational and financial strength [3].

Core Insights - The new medical insurance directory has entered a substantial implementation phase, with several innovative drugs, including Tislelizumab and Fuzhengzhu, being prescribed under insurance in various hospitals, indicating a reduction in access barriers for patients [1] - The adjustment includes 114 new drugs and introduces a commercial health insurance directory for innovative drugs, marking a significant shift towards a multi-tiered insurance system [1][5] - The rapid inclusion of innovative drugs in the insurance directory reflects increased support for "true innovation" with high clinical value [5] Group 1: New Drug Inclusion - The new medical insurance directory has added 124 unique products, including Tislelizumab, the first targeted drug for thyroid eye disease, and Fuzhengzhu, a biological agent for psoriasis [5] - Heng Rui Medicine is a major beneficiary, with 20 products and indications adjusted, including 10 new drugs entering the directory for the first time [5][6] - Other biotech companies like BeiGene and Innovent Biologics have also benefited, with multiple products included in the new directory, enhancing their commercialization prospects [7] Group 2: Commercial Health Insurance Directory - The introduction of the commercial health insurance directory provides a secondary market for high-value innovative drugs, with price reductions ranging from 15% to 50%, which is less severe than the basic insurance cuts [9] - The directory aims to improve accessibility for high-priced drugs while ensuring adequate returns for pharmaceutical companies [9] - Notable CAR-T therapies have been included in the commercial directory, overcoming previous barriers to entry, with prices for these therapies exceeding 1 million yuan [8][10] Group 3: Market Dynamics and Drug Exits - The adjustment process has also seen the removal of 29 drugs from the insurance directory, including Benarutide, which faced competition from more effective alternatives [12][14] - The dynamic adjustment mechanism emphasizes the need for drugs to demonstrate clinical value, reinforcing a "can enter, can exit" policy [14] - Companies are encouraged to shift from "me-too" products to genuine innovations, focusing on high-value areas such as oncology and rare diseases [10][14]

Group 1 - The core viewpoint of the article highlights that Zhongjin Medical (ZJYL) experienced a stock price increase of 10.04% on December 17, reaching $0.206 per share, with a total market capitalization of $32.2487 million [1] - Financial data indicates that as of March 31, 2025, Zhongjin Medical reported total revenue of $9.8815 million, reflecting a year-on-year decrease of 6.4%, and a net profit attributable to the parent company of -$89,000, which is a significant decline of 104.96% year-on-year [1] Group 2 - Important reminder: Zhongjin Medical is set to disclose its fiscal year 2025 annual report on January 23, 2026, with the actual disclosure date subject to company announcements [2] - Zhongjin Medical Equipment International Co., Ltd. is a Cayman Islands-registered holding company that primarily operates through its domestic subsidiary, Changzhou Zhongjin Medical Equipment Co., Ltd., which has been recognized as a national high-tech enterprise since 2012 [2] - The company specializes in the research and manufacturing of high-end rehabilitation equipment, with a product range that includes walking aids, respiratory medical devices, smart nano bathing equipment, and fitness equipment for the elderly and special populations [2]