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MHUAF on OTC

Meihua International Medical Technologies Co., Ltd.

Meihua International Medical Technologies Co., Ltd. is a surgical and medical instruments and apparatus company, listed on OTC (MHUAF).1 It is headquartered in Yangzhou, China.1

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Last updated Oct 21, 2026.

Overview

$61.8MRevenue, fiscal 20252
$6.8MNet income, fiscal 20252

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  • TickerMHUAF on OTC1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersYangzhou, China1
  • Incorporated inCayman Islands3
  • Business address88 Tongda Road, Touqiao Town, Guangling District, Yangzhou, F4 2250003
  • Filer categoryNon-accelerated filer, Emerging growth company3
  • Legal formCorporation

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Meihua Future Manufacturing Limited or Meihua Future: a subsidiary of which 100% of registered capital is owned by Meihua International, was established in the State of New York on July31, 2025, with registered capital of $5,000, for purposes of serving as software service company with a focus on facilitating the SaaS development service.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

31.0%Gross margin2
13.4%Operating margin2
11.0%Net margin2
-36.2%Revenue growth, 20252
3.6%Return on equity2
$554.3KFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Distributors Sales Of Disposable Medical Devices brought in 36% of the revenue Meihua International Medical Technologies Co., Ltd. broke down this way in fiscal 2025.

  1. Distributors Sales Of Disposable Medical Devices$54.4M236%down 40% from 2024
  2. Resales Of Sourced Disposable Medical Devices From Third Party Manufacturers$32.9M222%down 33% from 2024
  3. Produced$27.3M218%down 43% from 2024
  4. Self Manufactured Products$27.3M218%down 43% from 2024
  5. Direct Sales Of Disposable Medical Devices$5.8M24%down 14% from 2024
  6. Saa SDevelopment Service$1.6M21%
  7. Saa SService And Development$1.6M21%
Products and services by year
Products and services202320242025
Distributors Sales Of Disposable Medical Devices$89.0M$90.1M$54.4M
Resales Of Sourced Disposable Medical Devices From Third Party Manufacturers$48.9M$49.3M$32.9M
Produced$48.2M$47.6M$27.3M
Self Manufactured Products$48.2M$47.6M$27.3M
Direct Sales Of Disposable Medical Devices$8.1M$6.8M$5.8M
Saa SDevelopment Service$1.6M
Saa SService And Development$1.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue69¢$42.6M
  • Research and development4¢$2.4M
  • Other costs12¢$7.4M
  • Income tax4¢$2.6M
  • Profit11¢$6.8M

Out of $61.8M in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending3¢$15.6K
  • Kept or used elsewhere97¢$554.3K

Out of $569.9K of cash from operations.2

Financial statements

Revenue562$61.8M in 2025−22% since 2019
0$50.0M$100.0M$150.0M2019: $79.6M$79.6M20192020: $89.1M$89.1M2020+12%2021: $104.0M$104.0M2021+17%2022: $103.3M$103.3M2022−1%2023: $97.1M$97.1M2023−6%2024: $96.9M$96.9M2024−0%2025: $61.8M$61.8M2025−36%
Gross profit56782$19.2M in 2025−41% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $32.2M$32.2M20192020: $37.2M$37.2M2020+15%2021: $39.8M$39.8M2021+7%2022: $38.1M$38.1M2022−4%2023: $33.2M$33.2M2023−13%2024: $33.3M$33.3M2024+0%2025: $19.2M$19.2M2025−42%
Operating income56782$8.3M in 2025−57% since 2019
0$10.0M$20.0M$30.0M2019: $19.4M$19.4M20192020: $23.5M$23.5M2020+21%2021: $26.3M$26.3M2021+12%2022: $10.8M$10.8M2022−59%2023: $14.7M$14.7M2023+36%2024: $14.3M$14.3M2024−2%2025: $8.3M$8.3M2025−42%
Net income56782$6.8M in 2025−56% since 2019
0$10.0M$20.0M$30.0M2019: $15.4M$15.4M20192020: $19.0M$19.0M2020+23%2021: $20.9M$20.9M2021+10%2022: $6.2M$6.2M2022−70%2023: $11.6M$11.6M2023+86%2024: $10.8M$10.8M2024−7%2025: $6.8M$6.8M2025−37%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Total revenues$61.8M$96.9M$97.1M
Cost of revenues$42.6M$63.6M$63.9M
Gross profit$19.2M$33.3M$33.2M
Selling$4.2M$6.6M$7.3M
General and administrative$3.2M$7.8M$6.5M
Research and development$2.4M$3.5M$2.8M
Allowance for credit losses$1.1M$1.1M$1.9M
Total operating expenses$10.9M$19.0M$18.5M
Income from operations$8.3M$14.3M$14.7M
Change in fair value in convertible debt$678.3K
Interest expense$241.5K$1.5M$250.8K
Interest income-$1.3M-$1.0M-$873.4K
Currency exchange loss (gain)-$35.9K-$380.3K$153.4K
Other (income) expense, net-$68.7K-$104.6K$95.4K
Total other (income) expenses-$1.1M$685.8K-$373.8K
Income before income tax provision$9.4M$13.6M$15.0M
Income taxes expense$2.6M$2.8M$3.5M
Net income$6.8M$10.8M$11.6M
Net loss attributable to non-controlling interests-$6.3K-$34.4K
Net income attributable to shareholders$6.8M$10.8M$11.6M
Foreign currency translation adjustment$6.7M-$4.3M-$3.4M
Comprehensive income$13.4M$6.6M$8.2M
Comprehensive loss attributable to non-controlling interests-$20.0K-$50.2K
Comprehensive income attributable to shareholders$13.4M$6.6M$8.2M
Weighted average number of ordinary shares - Basic (in Shares)376.0K shares273.7K shares239.4K shares
Weighted average number of ordinary shares - Diluted (in Shares)376.0K shares273.7K shares239.4K shares
EPS Basic (in Dollars per share)$18.04$39.62$48.56
EPS Diluted (in Dollars per share)$18.04$39.62$48.56

Compare Meihua International Medical Technologies Co., Ltd. with another company

Corporate structure

Meihua International Medical Technologies Co., Ltd. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Meihua International Medical Technologies Co., Ltd.

  • Anson Funds Management LP Filed SCHEDULE 13G/A on Meihua International Medical Technologies Co., Ltd., latest Feb 14, 2025 (2 filings since Nov 14, 2024)
  • Meihua International Medical Technologies Co., Ltd. Yangzhou, China

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Meihua International Medical Technologies Co., Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$12.7M2 Dec 31, 2025$12.2M2 Dec 31, 2024+4.5%
Accumulated depreciation$5.0M2 Dec 31, 2025$4.3M2 Dec 31, 2024+17.2%
Property and equipment, net$7.7M2 Dec 31, 2025$7.9M2 Dec 31, 2024−2.4%

Investments

ItemLatestA year beforeChange
Stakes in other companies (equity method)$57.6M8 Nov 5, 2024
Long-term investments$23.5M2 Dec 31, 2025$22.4M2 Dec 31, 2024+4.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$7.9M2 Dec 31, 2024
Intangible assets, net (excluding goodwill)$446.5K2 Dec 31, 2025$443.0K2 Dec 31, 2024+0.8%
Finite-lived intangibles, gross$903.8K2 Dec 31, 2025$865.9K2 Dec 31, 2024+4.4%
Accumulated amortization$457.3K2 Dec 31, 2025$422.9K2 Dec 31, 2024+8.1%
Finite-lived intangibles, net$446.5K2 Dec 31, 2025$443.0K8 Dec 31, 2024+0.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.7M2 Dec 31, 2025$1.4M2 Dec 31, 2024+20.9%
Raw materials$731.5K2 Dec 31, 2025$716.3K2 Dec 31, 2024+2.1%
Work in process$25.2K2 Dec 31, 2025$4.5K2 Dec 31, 2024+463.9%
Finished goods$554.6K2 Dec 31, 2025$631.4K2 Dec 31, 2024−12.2%

Leadership

Who has led Meihua International Medical Technologies Co., Ltd., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Leyi Lee2026–now

Chair

  1. Ailiang Wang2026–now

Chief financial officer

  1. Shilong Liao2026–now
Board members and other officers (4)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief Financial OfficerLianzhang Zhao named Jan 8, 202416
  • Executive Officer, DirectorXin Wang named Jan 8, 202416
  • Independent DirectorHuijuan Zhao named Jan 8, 202416
  • Independent DirectorXiaoming E named Jan 8, 202416
  • Chairman of the board of directorsYongjun Liu named Jan 8, 202416

Timeline

  1. Mar 30, 2026New chief executive Leyi Lee becomes CEO9

Filings

124 filings to the SEC since October 2021: 8 annual reports, 7 insider forms, 2 large holders, 1 private raises, 106 other. The latest 20:

  1. Jun 26, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  2. Apr 29, 202620-F ANNUAL REPORT EDGAR
  3. Mar 31, 20263/A PRIMARY DOCUMENT EDGAR
  4. Mar 30, 20263 PRIMARY DOCUMENT EDGAR
  5. Mar 30, 20263 PRIMARY DOCUMENT EDGAR
  6. Mar 30, 20263 PRIMARY DOCUMENT EDGAR
  7. Mar 30, 20263 PRIMARY DOCUMENT EDGAR
  8. Mar 30, 20263 PRIMARY DOCUMENT EDGAR
  9. Mar 30, 20263 PRIMARY DOCUMENT EDGAR
  10. Mar 2, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  11. Feb 26, 2026EFFECT EDGAR
  12. Feb 24, 2026CORRESP EDGAR
  13. Feb 24, 2026F-3 REGISTRATION STATEMENT EDGAR
  14. Feb 18, 2026UPLOAD EDGAR
  15. Feb 13, 2026DRS EDGAR
  16. Feb 2, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  17. Jan 23, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  18. Jan 20, 20266-K/A AMENDMENT NO. 1 TO FORM 6-K EDGAR
  19. Jan 7, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  20. Dec 16, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR

The 124 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 27, 2023Raised $5.6 million in a private offering of securities Form D: $47 million offered in all Form D

SEC filer profile

How Meihua International Medical Technologies Co., Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMeihua International Medical Technologies Co., Ltd.1
  • CIK0001835615
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inCayman Islands4
  • Fiscal year endsDecember 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address88 Tongda Road, Touqiao Town, Guangling District, Yangzhou, F4 2250001
  • Mailing address88 Tongda Road,, Touqiao Town, Guangling District, Yangzhou, F4 2250001
  • Phone(86) 0514-898001991
  • Shares outstanding697,914 shares as of Dec 31, 20254
  • AuditorLI CPA LLC, Aurora, Colorado PCAOB ID 7093; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceDec 31, 20201
  • Filings142 in all: 6-K (49), CORRESP (19), UPLOAD (19), F-1/A (11), 3 (6), 20-F (5), EFFECT (4), 20-F/A (3)1
    All 26 form types

    424B3 (3), DRS (2), DRS/A (2), F-1 (2), F-3 (2), F-3/A (2), FWP (2), 3/A (1), 424B4 (1), 424B5 (1), 6-K/A (1), 8-A12B (1), CERT (1), D (1), DRSLTR (1), NT 20-F (1), SC 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (20-F) Apr 29, 2026

Securities registered for trading

ClassSymbolExchange
Class A Ordinary Share, $0.05 par valueMHUAFNONE

From the cover page of the 20-F filed Apr 29, 2026 (Section 12(b) of the Exchange Act).4

Sources

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