Overview
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- TickerWOK on Nasdaq1
- IndustrySurgical & Medical Instruments & Apparatus1
- HeadquartersF41
- Incorporated inChina3
- Business address1/88 Cook St, Auckland City, 10013
- Filer categoryNon-accelerated filer, Emerging growth company3
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Huangshan Saitumofei does not have any operations as of the date of this annual report.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
23.8%Gross margin2
-10.9%Net margin2
-14.4%Revenue growth, 20252
-5.8%Return on equity2
$4.9MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Medical Devices Other Than Masks brought in 93% of the revenue WORK Medical Technology Group LTD broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Medical Devices Other Than Masks | $8.0M | $9.4M | $9.1M |
| Masks | $5.1M | $1.6M | $640.4K |
| Commodity Trading | $325.4K | $435.7K | $55.4K |
| Others Revenue Product | $151.7K | $96.2K | $18.5K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development4¢$435.3K
- Other costs94¢$9.3M
- Income tax1¢$119.1K
Out of $9.8M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending21¢$1.3M
- Kept or used elsewhere79¢$4.9M
Out of $6.2M of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Gross profit | $2.3M | $2.9M | $4.1M |
| Selling expenses | -$2.1M | -$2.1M | -$1.6M |
| General and administrative expenses | -$2.3M | -$4.6M | -$1.9M |
| Research and development expenses | -$435.3K | -$302.5K | -$301.6K |
| Total operating expenses | -$4.8M | -$6.9M | -$3.7M |
| Interest expense | -$503.5K | -$557.6K | -$392.7K |
| Interest income | $181.7K | $11.7K | $25.4K |
| Government subsidies | $1.6M | $346.6K | $74.2K |
| Other income (expenses), net | $135.4K | $578.8K | -$8.7K |
| Total other income (loss) | $1.4M | $379.5K | -$301.8K |
| (Loss) income before income tax expense | -$1.1M | -$3.7M | $110.4K |
| Income tax (expense) benefit | -$119.1K | $125.3K | -$47.0K |
| Net (loss) income | -$1.2M | -$3.5M | $63.4K |
| Net loss attributable to non-controlling interest | -$128.4K | -$48.1K | -$48.6K |
| Net (loss) income attributable to ordinary shareholders | -$1.1M | -$3.5M | $112.0K |
| Foreign currency translation adjustment | -$130.4K | $453.2K | -$268.1K |
| Total comprehensive loss | -$1.3M | -$3.1M | -$204.7K |
| Total comprehensive (loss) income attributable to non-controlling interests | -$58.7K | $136.7K | -$80.2K |
| Total comprehensive loss attributable to shareholders | -$1.3M | -$3.2M | -$124.5K |
| Basic (in Shares) | 29.0M shares | 12.7M shares | 12.5M shares |
| Diluted (in Shares) | 29.0M shares | 12.7M shares | 12.5M shares |
| Basic (loss) earnings per ordinary share (in Dollars per share) | -$0.04 | -$0.27 | $0.01 |
| Diluted (loss) earnings per ordinary share (in Dollars per share) | -$0.04 | -$0.27 | $0.01 |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $4.1M | $6.6M | $1.6M | |
| Cash deposited in escrow account | $400.0K | |||
| Accounts receivable, net | $615.8K | $1.6M | ||
| Inventories, net | $2.5M | $3.2M | ||
| Advance to suppliers | $1.2M | $4.7M | ||
| Prepaid expenses and other current assets, net | $1.3M | $1.6M | ||
| Total current assets | $20.5M | $20.8M | ||
| Property, plant and equipment, net | $10.6M | $11.4M | ||
| Intangible assets, net | $959.1K | $1.0M | ||
| Right-of-use assets, net | $26.1K | |||
| Deferred tax assets, net | $112.9K | |||
| Advance to suppliers for equipment | $1.1M | $2.9M | ||
| Total non-current assets | $12.7M | $15.4M | ||
| TOTAL ASSETS | $33.2M | $36.3M | ||
| Short-term bank borrowings | $6.4M | $13.3M | ||
| Accounts payable | $1.7M | $1.5M | ||
| Deferred revenue | $402.4K | $625.3K | ||
| Accrued expenses and other liabilities | $2.9M | $3.0M | ||
| Lease liabilities, current | $6.7K | |||
| Income tax payable | $501.5K | $508.7K | ||
| Total current liabilities | $12.0M | $20.2M | ||
| Deferred tax liabilities | $1.3K | |||
| Lease liabilities, non-current | $18.8K | |||
| Total non-current liabilities | $20.1K | |||
| TOTAL LIABILITIES | $12.0M | $20.2M | ||
| Ordinary Shares, Value | $7.3K | |||
| Subscription receivable | -$6.2K | -$6.2K | ||
| Additional paid-in capital | $13.0M | $6.6M | ||
| Statutory reserve | $899.7K | $899.7K | ||
| Retained earnings | $5.0M | $6.1M | ||
| Accumulated other comprehensive loss | -$608.7K | -$408.5K | ||
| Total shareholders equity | $18.3M | $13.2M | ||
| Non-controlling interests | $2.8M | $2.9M | ||
| Total equity | $21.2M | $16.1M | $11.0M | $11.2M |
| TOTAL LIABILITIES AND EQUITY | $33.2M | $36.3M | ||
| Ordinary Shares, par value (in Dollars per share) | $0.00 | |||
| Ordinary Shares, authorized (in Shares) | 100.0M shares | |||
| Ordinary Shares, issued (in Shares) | 14.6M shares | |||
| Ordinary Shares, outstanding (in Shares) | 14.6M shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 |
|---|---|---|---|---|
| Cash and cash equivalents | $4.1M | $6.6M | $1.6M | |
| Cash deposited in escrow account | $400.0K | |||
| Accounts receivable, net | $615.8K | $1.6M | ||
| Inventories, net | $2.5M | $3.2M | ||
| Advance to suppliers | $1.2M | $4.7M | ||
| Prepaid expenses and other current assets, net | $1.3M | $1.6M | ||
| Total current assets | $20.5M | $20.8M | ||
| Property, plant and equipment, net | $10.6M | $11.4M | ||
| Intangible assets, net | $959.1K | $1.0M | ||
| Right-of-use assets, net | $26.1K | |||
| Deferred tax assets, net | $112.9K | |||
| Advance to suppliers for equipment | $1.1M | $2.9M | ||
| Total non-current assets | $12.7M | $15.4M | ||
| TOTAL ASSETS | $33.2M | $36.3M | ||
| Short-term bank borrowings | $6.4M | $13.3M | ||
| Accounts payable | $1.7M | $1.5M | ||
| Deferred revenue | $402.4K | $625.3K | ||
| Accrued expenses and other liabilities | $2.9M | $3.0M | ||
| Lease liabilities, current | $6.7K | |||
| Income tax payable | $501.5K | $508.7K | ||
| Total current liabilities | $12.0M | $20.2M | ||
| Deferred tax liabilities | $1.3K | |||
| Lease liabilities, non-current | $18.8K | |||
| Total non-current liabilities | $20.1K | |||
| TOTAL LIABILITIES | $12.0M | $20.2M | ||
| Ordinary Shares, Value | $7.3K | |||
| Subscription receivable | -$6.2K | -$6.2K | ||
| Additional paid-in capital | $13.0M | $6.6M | ||
| Statutory reserve | $899.7K | $899.7K | ||
| Retained earnings | $5.0M | $6.1M | ||
| Accumulated other comprehensive loss | -$608.7K | -$408.5K | ||
| Total shareholders equity | $18.3M | $13.2M | ||
| Non-controlling interests | $2.8M | $2.9M | ||
| Total equity | $21.2M | $16.1M | $11.0M | $11.2M |
| TOTAL LIABILITIES AND EQUITY | $33.2M | $36.3M | ||
| Ordinary Shares, par value (in Dollars per share) | $0.00 | |||
| Ordinary Shares, authorized (in Shares) | 100.0M shares | |||
| Ordinary Shares, issued (in Shares) | 14.6M shares | |||
| Ordinary Shares, outstanding (in Shares) | 14.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Net (loss) income | -$1.2M | -$3.5M | $63.4K |
| Depreciation and amortization | $923.1K | $1.4M | $1.6M |
| Inventories write-down | $105.6K | $762 | $18.3K |
| Loss on disposal of equipment | $178.4K | $42.5K | $8.1K |
| Allowance for credit loss | -$185.0K | $12.2K | $149.5K |
| Allowance for advances to suppliers | $15.5K | ||
| Allowance for advances to suppliers for equipment | $13.9K | ||
| Deferred tax expense (benefits) | $111.2K | -$46.0K | -$94.5K |
| Loss on disposal of subsidiaries | $126 | ||
| Interest income of loan to third parties | -$158.4K | ||
| Accounts receivable third parties | $1.0M | $1.8M | -$131.9K |
| Advance to suppliers | $6.0M | -$1.1M | $977.3K |
| Amount due (from) to related parties | -$1.4M | $1.8M | -$4.0M |
| Inventories | $568.7K | $1.6M | -$400.5K |
| Operating lease liabilities | -$5.8K | -$2.0K | -$51.8K |
| Prepaid expenses and other current assets | $194.5K | $293.7K | $1.3M |
| Accounts payable | $245.5K | -$2.6M | $864.6K |
| Income taxes payable | -$250.4K | $136.5K | |
| Deferred revenue | -$211.2K | -$177.0K | $52.2K |
| Accrued expenses and other liabilities | -$32.5K | -$1.5M | $1.7M |
| Net cash provided by (used in) operating activities | $6.2M | -$2.2M | $2.2M |
| Purchase of intangible assets | -$33.3K | -$127.9K | |
| Purchase of property and equipment | -$1.3M | -$9.2M | -$455.4K |
| Proceed from disposal of property and equipment | $472.9K | $194.3K | |
| Loans to third parties | -$6.1M | ||
| Repayment from loans to third parties | $6.1M | ||
| Loan to related parties | -$2.7M | ||
| Repayment from related parties | $5.1M | ||
| Acquisition consideration of a subsidiary | -$85.0K | ||
| Refundable advance deposit | -$9.1M | ||
| Net cash outflow from disposal of a subsidiary | -$95 | ||
| Net cash used in investing activities | -$7.6M | -$9.1M | -$583.3K |
| Proceeds from public offering and registered direct offering | $6.9M | $7.4M | |
| Cash deposited in escrow account | -$400.0K | ||
| Return of cash deposited in escrow account | $400.0K | ||
| Contributions from non-controlling interest | $2.8M | ||
| Proceeds from short-term borrowings | $18.0M | $13.4M | $9.1M |
| Repayments of short-term borrowings | -$24.6M | -$9.4M | -$6.0M |
| Loan from related party | $860.8K | ||
| Repayment to related party | -$2.0M | ||
| Loans to related parties | -$4.6M | -$5.7M | |
| Repayment from related parties | $5.5M | $5.9M | |
| Loans to third parties | -$1.1M | -$2.7M | |
| Repayment from loans to third parties | $2.7M | $23.6K | |
| Payment of offering cost | -$376.2K | -$613.0K | -$1.4M |
| Net cash (used in) provided by financing activities | -$898.2K | $15.7M | -$728.7K |
| Effect of exchange rate changes | -$207.4K | $555.5K | -$33.9K |
| Net increase (decrease) in cash and restricted cash | -$2.5M | $4.9M | $863.9K |
| Income taxes paid | $8.1K | $10.0K | $160.2K |
| Interest paid | $508.5K | $543.8K | $312.0K |
No quarter-by-quarter statement was filed.
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Corporate structure
WORK Medical Technology Group 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 WORK Medical Technology Group LTD
- Kelly Khalid Habbas Filed SCHEDULE 13G/A on WORK Medical Technology Group LTD, latest Jun 16, 2026 (3 filings since Jun 4, 2026)
- Trillium Trading, LLC Filed SCHEDULE 13G/A on WORK Medical Technology Group LTD, latest Jun 9, 2026 (2 filings since Jun 8, 2026)
- L1 Capital Global Opportunities Master Fund, Ltd. Filed SCHEDULE 13G/A on WORK Medical Technology Group LTD, latest Nov 14, 2025 (2 filings since Oct 3, 2025)
- BIGGER CAPITAL FUND L P Filed SCHEDULE 13G/A on WORK Medical Technology Group LTD, latest Oct 14, 2025 (2 filings since Sep 29, 2025)
- LWY GROUP LTD Filed SCHEDULE 13G on WORK Medical Technology Group LTD, latest Feb 20, 2025
- WORK Medical Technology Group LTD F4
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What WORK Medical Technology Group 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
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $17.4M2 Sep 30, 2025 | $17.6M2 Sep 30, 2024 | −1.2% |
| Accumulated depreciation | $5.9M2 Sep 30, 2025 | $5.4M2 Sep 30, 2024 | +10.8% |
| Property and equipment, net | $10.6M2 Sep 30, 2025 | $11.4M2 Sep 30, 2024 | −6.9% |
| Operating-lease assets (leased space) | $26.1K2 Sep 30, 2025 | $114.1K5 Sep 30, 2023 | −77.2% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $959.1K2 Sep 30, 2025 | $1.0M2 Sep 30, 2024 | −8.1% |
| Finite-lived intangibles, gross | $1.4M2 Sep 30, 2025 | $1.4M2 Sep 30, 2024 | −1.4% |
| Accumulated amortization | $392.1K2 Sep 30, 2025 | $326.6K2 Sep 30, 2024 | +20.0% |
| Finite-lived intangibles, net | $959.1K2 Sep 30, 2025 | $1.0M2 Sep 30, 2024 | −8.1% |
Inventory
Leadership
Who has led WORK Medical Technology Group LTD, and when. Pick a name to see everywhere that person has worked.
- Chief financial officerNingfang Liang May 28, 2026 to now6
- Chief operating officerBaiming Yu May 28, 2026 to now7
Board members and other officers (2)
- Board memberBaiming Yu May 28, 2026 to now7
- Board memberQisheng Lin May 28, 2026 to now8
Former names
- WORK Medical Technology LTDJun 23, 2022 to Jun 23, 20223
Filings
143 filings to the SEC since October 2021: 3 annual reports, 19 insider forms, 10 large holders, 111 other. The latest 20:
- Aug 24, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 14, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 14, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jun 23, 20264 PRIMARY DOCUMENT EDGAR
- Jun 17, 20264 PRIMARY DOCUMENT EDGAR
- Jun 16, 2026SCHEDULE 13G/A EDGAR
- Jun 16, 20264 PRIMARY DOCUMENT EDGAR
- Jun 12, 20264 PRIMARY DOCUMENT EDGAR
- Jun 12, 20263 PRIMARY DOCUMENT EDGAR
- Jun 10, 2026SCHEDULE 13G/A EDGAR
- Jun 10, 20264 PRIMARY DOCUMENT EDGAR
- Jun 9, 2026SCHEDULE 13G/A EDGAR
- Jun 9, 20264 PRIMARY DOCUMENT EDGAR
- Jun 8, 2026SCHEDULE 13G EDGAR
- Jun 8, 20264 PRIMARY DOCUMENT EDGAR
- Jun 8, 20263 PRIMARY DOCUMENT EDGAR
- Jun 5, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jun 4, 2026SCHEDULE 13G EDGAR
- Jun 3, 20264 PRIMARY DOCUMENT EDGAR
- Jun 3, 20263 PRIMARY DOCUMENT EDGAR
The 143 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.
Insider trades
15 open-market trades by officers, directors and large owners since October 2021: 10 buys and 5 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 18, 2026 | HRT FINANCIAL LP10% owner | Sale | 136,665 | $3.87 | $528.9K | Form 4 |
| Jun 17, 2026 | HRT FINANCIAL LP10% owner | Buy | 880,456 | $0.05 | $44.0K | Form 4 |
| Jun 16, 2026 | HRT FINANCIAL LP10% owner | Sale | 2,904,567 | $0.06 | $174.3K | Form 4 |
| Jun 15, 2026 | HRT FINANCIAL LP10% owner | Buy | 268,927 | $0.10 | $26.9K | Form 4 |
| Jun 12, 2026 | HRT FINANCIAL LP10% owner | Buy | 48,108 | $0.08 | $3.8K | Form 4 |
| Jun 11, 2026 | HRT FINANCIAL LP10% owner | Buy | 2,029,327 | $0.09 | $182.6K | Form 4 |
| Jun 10, 2026 | HRT FINANCIAL LP10% owner | Buy | 1,765,384 | $0.10 | $176.5K | Form 4 |
| Jun 9, 2026 | HRT FINANCIAL LP10% owner | Sale | 3,463,022 | $0.11 | $380.9K | Form 4 |
| Jun 8, 2026 | HRT FINANCIAL LP10% owner | Buy | 2,261,118 | $0.11 | $248.7K | Form 4 |
| Jun 5, 2026 | HRT FINANCIAL LP10% owner | Buy | 54,529 | $0.09 | $4.9K | Form 4 |
| Jun 4, 2026 | HRT FINANCIAL LP10% owner | Buy | 1,370,008 | $0.11 | $150.7K | Form 4 |
| Jun 2, 2026 | HRT FINANCIAL LP10% owner | Sale | 1,757,955 | $0.11 | $193.4K | Form 4 |
| Jun 1, 2026 | HRT FINANCIAL LP10% owner | Buy | 2,746,332 | $0.14 | $384.5K | Form 4 |
| May 29, 2026 | HRT FINANCIAL LP10% owner | Sale | 2,619,607 | $0.10 | $262.0K | Form 4 |
| May 28, 2026 | HRT FINANCIAL LP10% owner | Buy | 1,535,850 | $0.09 | $138.2K | Form 4 |
From Forms 4 filed with the SEC.
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.
- Kelly Khalid HabbasSCHEDULE 13G/A, 3 filings Jun 4, 2026 to Jun 16, 20269
- Trillium Trading, LLCSCHEDULE 13G/A, 2 filings Jun 8, 2026 to Jun 9, 202610
- L1 Capital Global Opportunities Master Fund, Ltd.SCHEDULE 13G/A, 2 filings Oct 3, 2025 to Nov 14, 202511
- BIGGER CAPITAL FUND L PSCHEDULE 13G/A, 2 filings Sep 29, 2025 to Oct 14, 202512
- LWY GROUP LTDSCHEDULE 13G, 1 filing Feb 20, 202513
SEC filer profile
How WORK Medical Technology Group LTD is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARWORK Medical Technology Group LTD1
- CIK0001929783
- Filer statusNon-accelerated filer an emerging growth company; not a shell company4
- Incorporated inCayman Islands4
- Fiscal year endsSeptember 301
- Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address1/88 Cook St, Auckland City, 1001, New Zealand1
- Phone86-0571-826135681
- Shares outstanding95,998,776 Common Class A shares; 7,592,500 Common Class B shares as of Sep 30, 20254
- AuditorHTL International, LLC, Houston, Texas PCAOB ID 7000; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceJun 23, 20221
- Filings143 in all: 6-K (30), CORRESP (22), UPLOAD (18), F-1/A (16), 3 (10), 4 (9), SCHEDULE 13G (5), SCHEDULE 13G/A (5)1
All 23 form types
DRS/A (3), DRSLTR (3), EFFECT (3), FWP (3), 20-F (2), 424B4 (2), 424B5 (2), DRS (2), F-1 (2), 20-F/A (1), 6-K/A (1), 8-A12B (1), CERT (1), F-3 (1), NT 20-F (1)
- Latest filingsAnnual report (20-F) Jan 30, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A Ordinary Shares | WOK | Nasdaq |
From the cover page of the 20-F filed Jan 30, 2026 (Section 12(b) of the Exchange Act).4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7SEC EDGARBaiming Yu, Chief operating officer
- 8SEC EDGARQisheng Lin, Board member
- 9
- 10
- 11
- 12
- 13