Meihua International Medical Technologies Co., Ltd. (MHUAF)
Meihua International Medical Technologies Co., Ltd. is a Chinese company dedicated to the innovation, production, and distribution of a wide array of medical devices. Operating primarily within the People's Republic of China, its comprehensive product portfolio spans various regulatory classifications. The company offers numerous Class I disposable medical supplies, such as medical X-ray and dry films, dry laser imagers, gauze bandages, and examination gloves. It also provides pharmaceutical packaging, including low-density polyethylene eye drop bottles and high-density polyethylene tablet bottles. Its Class II inventory comprises critical disposable instruments and kits for medical procedures, including complete anesthesia kits, specialized medical brushes, various examination and urethral catheterization sets, endotracheal intubation devices, medical masks, anal bags, and suction connecting tubes. For Class III disposable medical devices, Meihua manufactures advanced solutions like single-use infusion pumps, sophisticated anesthesia puncture kits, and electronic pump systems. Beyond these, the company also produces disposable plastic baby bottles and components like NB/PSN rubber covers and 8.2mL folded spoons for tools and containers. It specializes in Class II 6866 medical polymer materials and products, such as transfusion equipment, pipelines, and endotracheal intubation for respiratory care, alongside traditional medical X-ray films and multi-functional self-extracting X-ray film machines. Meihua caters to a broad customer base, including hospitals, pharmacies, medical institutions, and medical equipment companies. Its products are distributed globally, reaching markets throughout Europe, North America, South America, Asia, Africa, and Oceania. Founded in 1991, the company is headquartered in Yangzhou, People's Republic of China.
Sector: Surgical & Medical Instruments & Apparatus
Industry: Medical - Instruments & Supplies
Meihua International Medical Technologies Co., Ltd.
Past the 1:250 Nasdaq cap, ineligible for a bid-price compliance period
- 1:100Reverse splitNov 24, 2025100 shares → 1
- 1:100Reverse splitNov 24, 2025100 shares → 1
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $61.79M | $96.91M | $97.1M | $103.35M | $104.04M | $89.06M | $79.63M | $75.71M |
| YoY Growth | -36.2% | -0.2% | -6.0% | -0.7% | 16.8% | 11.8% | 5.2% | - |
| Cost of Revenue | $42.8M | $63.61M | $64M | $65.25M | $64.23M | $51.9M | $47.42M | $43.82M |
| Gross Profit | $18.99M | $33.3M | $33.09M | $38.1M | $39.81M | $37.16M | $32.21M | $31.89M |
| Gross Margin | 30.7% | 34.4% | 34.1% | 36.9% | 38.3% | 41.7% | 40.5% | 42.1% |
| Research and Development | $2.38M | $3.46M | $2.75M | $2.96M | $2.73M | $2.49M | $3.21M | $2.87M |
| Selling, General, and Administrative | $6.85M | $13.52M | $12.97M | $19.58M | $11.78M | $10.34M | $8.68M | $9.85M |
| Other | $1.48M | $2.01M | $2.7M | $4.76M | -$1.08M | $865K | $926K | $0 |
| Total Operating Expenses | $10.71M | $18.99M | $18.42M | $27.3M | $13.42M | $13.69M | $12.82M | $12.71M |
| Operating Income (EBIT) | $8.28M | $14.31M | $14.67M | $10.8M | $26.26M | $23.47M | $19.39M | $19.18M |
| Operating Margin | 13.4% | 14.8% | 15.1% | 10.5% | 25.2% | 26.3% | 24.3% | 25.3% |
| Interest Expense | $242K | $1.51M | $251K | $195K | $181K | $137K | $98K | $0 |
| Interest Income | $1.26M | $1.01M | $873K | $64K | $24K | $37K | $49K | $77K |
| Other Income (Expense) | $1.12M | -$686K | $374K | $89K | -$33K | $267K | -$138K | -$466K |
| Income Before Tax (EBT) | $9.41M | $13.63M | $15.05M | $10.89M | $26.23M | $23.73M | $19.25M | $18.71M |
| Income Tax Expense | $2.62M | $2.79M | $3.46M | $4.71M | $5.28M | $4.69M | $3.82M | $3.23M |
| Net Income | $6.78M | $10.84M | $11.63M | $6.24M | $20.95M | $19.05M | $15.43M | $15.48M |
| Net Income Margin | 11.0% | 11.2% | 12.0% | 6.0% | 20.1% | 21.4% | 19.4% | 20.4% |
| Supplementary Data | ||||||||
| EPS | 18.04 | 40.00 | 49.00 | 27.00 | 89.00 | 79.00 | 64.00 | 77.00 |
| Diluted EPS | 18.04 | 40.00 | 49.00 | 27.00 | 89.00 | 79.00 | 64.00 | 77.00 |
| Weighted Average OS | 376,035 | 273,717 | 239,400 | 234,111 | 236,000 | 241,400 | 241,400 | 200,000 |
| EBITDA | $8.83M | $15.7M | $15.77M | $11.65M | $27.03M | $24.39M | $19.9M | $19.74M |
| EBITDA Margin | 14.3% | 16.2% | 16.2% | 11.3% | 26.0% | 27.4% | 25.0% | 26.1% |
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $15.15M | $15.96M | $16.93M | $26.74M | $8.15M | $7.19M | $16.03M | $14.8M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $15.15M | $15.96M | $16.93M | $26.74M | $8.15M | $7.19M | $16.03M | $14.8M |
| Accounts Receivable | $119.37M | $115M | $99.48M | $91.03M | $86.48M | $58.56M | $35.41M | $32.98M |
| Inventory | $1.7M | $1.41M | $1.62M | $1.12M | $1.25M | $1.33M | $1.02M | $1.84M |
| Other Current Assets | $17.36M | $1.48M | $14.23M | $16.43M | $1.39M | $497K | $108K | $345K |
| Total Current Assets | $153.58M | $143.44M | $132.24M | $135.32M | $97.28M | $67.57M | $52.58M | $49.97M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $7.7M | $7.89M | $8.84M | $8.76M | $7.48M | $20.13M | $3.4M | $3.7M |
| Goodwill | $0 | $0 | $0 | $0 | -$17.26M | $0 | $0 | $0 |
| Intangible Assets | $446K | $443K | $3.92M | $498K | $17.82M | $17.43M | $16.37M | $601K |
| Long-Term Investments | $23.45M | $22.39M | $6.13M | $6.67M | $942K | $920K | $862K | $873K |
| Deferred Tax Assets | $0 | $993K | $369K | $0 | $0 | -$29.89M | -$15.8M | $0 |
| Other Long-Term Assets | $22M | $11.09M | $20.42M | $12.33M | $30.6M | $29.89M | $15.8M | $7.27M |
| Total Long-Term Assets | $53.6M | $42.8M | $39.68M | $28.26M | $39.58M | $38.48M | $20.63M | $12.45M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $207.18M | $186.24M | $171.92M | $163.58M | $136.86M | $106.05M | $73.2M | $62.42M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $8.42M | $15.48M | $15.82M | $16.1M | $20.98M | $15.64M | $9.36M | $13.73M |
| Short-Term Debt | $8.99M | $7.95M | $7.32M | $6.09M | $5.18M | $3.22M | $2.59M | $2.04M |
| Current Income Tax Payable | $0 | $1.24M | $1.08M | $1.13M | $2.08M | $1.75M | $1.05M | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $1.75M | $0 | $0 |
| Other Current Liabilities | $63K | $1.33M | $410K | $1.3M | $1.52M | -$495K | $851K | $956K |
| Total Current Liabilities | $18.25M | $27.26M | $25.07M | $24.17M | $29.09M | $21.31M | $13.55M | $17.96M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $0 | $0 | $0 | $725K | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $0 | $0 | $5K | $725K | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $18.25M | $27.26M | $25.08M | $24.9M | $29.09M | $21.31M | $13.55M | $17.96M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $35K | $16K | $12K | $12K | $10K | $10K | $10K | $10K |
| Retained Earnings | $111.95M | $105.23M | $94.64M | $83.33M | $76.62M | $56.63M | $52.76M | $37.33M |
| Comprehensive Income & Other | $17.51M | $4.71M | $8.72M | $11.81M | $20.47M | $18.38M | -$2.83M | -$2.59M |
| Other Stockholders' Equity | $76.95M | $53.73M | $51.68M | $54.78M | $30.18M | $28.1M | $6.89M | $7.13M |
| Total Equity | $188.93M | $158.98M | $146.33M | $138.12M | $106.81M | $84.74M | $59.66M | $44.46M |
| Minority Interest | $0 | $0 | $506K | $556K | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $207.18M | $186.24M | $171.41M | $163.02M | $135.9M | $106.05M | $73.2M | $62.42M |
| Supplementary Data | ||||||||
| Total Debt | $8.99M | $7.95M | $7.33M | $6.81M | $5.18M | $3.22M | $2.59M | $2.04M |
| Net Debt | -$6.17M | -$8.01M | -$9.6M | -$19.92M | -$2.97M | -$3.97M | -$13.45M | -$12.77M |
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | $6.78M | $10.84M | $11.59M | $6.18M | $19.99M | $19.05M | $15.43M | $15.48M |
| Depreciation & Amortization | $549K | $571K | $471K | $563K | $622K | $523K | $509K | $568K |
| Deferred Income Tax | $1.01M | -$643K | -$370K | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | $3.14M | -$3.21M | -$13.01M | -$7.12M | -$20.07M | -$19.63M | -$4.71M | -$11.09M |
| Inventory | -$227K | $166K | -$529K | $35K | $105K | -$220K | $803K | -$171K |
| Accounts Payable | -$7.48M | $932K | $186K | -$3.37M | $4.91M | $5.34M | -$4.23M | $0 |
| Other Working Capital | -$2.32M | $2.09M | $1.75M | -$9.95M | -$5.63M | $265K | $1.51M | $323K |
| Total Working Capital Change | -$6.89M | -$28K | -$11.6M | -$20.41M | -$20.68M | -$14.25M | -$6.62M | -$10.94M |
| Other Non-Cash Items | -$885K | $3.9M | $2.18M | $4.51M | $15K | $3K | -$10K | $6.71M |
| Net Cash from Operating | $570K | $14.64M | $2.28M | -$9.16M | -$55K | $5.33M | $9.31M | $11.82M |
| Investing Activities | ||||||||
| Capital Expenditures | -$16K | -$134K | -$1.18M | -$2.7M | -$850K | -$16.12M | -$8.95M | -$12K |
| Acquisitions | $0 | -$90K | $0 | $658K | $16K | $25K | $51K | $0 |
| Purchases of Investments | $0 | -$4.86M | $0 | -$5.94M | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $567K | $353K | -$658K | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$20.11M | -$15.9M | -$11.63M | $23K | $16K | $0 | $0 | -$7.56M |
| Net Cash from Investing | -$20.13M | -$20.42M | -$12.46M | -$8.62M | -$834K | -$16.09M | -$8.9M | -$7.57M |
| Financing Activities | ||||||||
| Debt Repaid | - | - | - | -$743K | - | - | - | - |
| Common Stock Issuance | $16.52M | $0 | $0 | $34.53M | $0 | $1.27M | $345K | $0 |
| Common Stock Repurchases | $0 | -$200K | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $635K | $0 | $0 | $0 | -$4.2M |
| Net Cash from Financing | $17.19M | $6.21M | $706K | $37.25M | $1.86M | $1.71M | $924K | -$4.2M |
| Forex Effect | $225K | -$68K | -$333K | -$875K | -$10K | $218K | -$103K | -$839K |
| Net Change in Cash | -$2.14M | $362K | -$9.81M | $18.59M | $962K | -$8.84M | $1.23M | -$794K |
| Supplementary Data | ||||||||
| Operating Cash Flow | $570K | $14.64M | $2.28M | -$9.16M | -$55K | $5.33M | $9.31M | $11.82M |
| Capital Expenditure | -$16K | -$134K | -$4.69M | -$2.7M | -$850K | -$16.12M | -$8.95M | -$12K |
| Free Cash Flow | $554K | $14.5M | -$2.41M | -$11.86M | -$905K | -$10.79M | $356K | $11.8M |
| Cash at Beginning | $17.29M | $16.93M | $26.74M | $8.15M | $7.19M | $16.03M | $14.8M | $15.6M |
| Cash at End | $15.15M | $17.29M | $16.93M | $26.74M | $8.15M | $7.19M | $16.03M | $14.8M |