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 December 31, 2024, from approximately $97.10 million for the year ended December 31, 2023. The decrease was mainly due to the Company’s disposal of Hainan Guoxie Technology Group Co. Ltd (“Hainan Guoxie”).
• Gross profit was approximately $33.30 million for the year ended December 31, 2024, compared with approximately $33.20 million for the year ended December 31, 2023.
• Gross profit margin was 34% for both the years ended December 31, 2023 and 2024.
• Income from operations was approximately $14.31 million for the year ended December 31, 2024, compared to approximately $14.67 million for the year ended December 31, 2023.
• Net income was approximately $10.84 million for the year ended December 31, 2024, compared to approximately $11.59 million for the year ended December 31, 2023.

Mr. Yongjun Liu, Chairman of the Company, commented, “In 2024, against a backdrop of a moderate macroeconomic recovery, we maintained our focus on advancing our strategic transition toward high-end medical products and enhancing operational efficiency. Our full-year revenue remained stable at $96.91 million, with gross profit increasing slightly by 0.3% year-over-year to $33.3 million and a solid gross margin of 34.0%. We ended the year with a healthy cash position of $17.3 million and improved operating cash flow, providing a strong foundation for our ongoing strategic initiatives. We believe that these results underscore the strength and resilience of our business model and our ability to optimize operations while sharpening our product focus.

“As part of our transformation, we completed the sale of our controlling equity stake in Hainan Guoxie in early 2024 and closed on a $6.0 million tranche under our previously announced securities purchase agreement in December 2024. This enabled us to reallocate capital toward higher-growth opportunities. We also made significant progress on the construction of our integrated medical industrial park in Boao Hope City, Hainan Province – the cornerstone of our long-term strategy. We believe that this facility, supported by national-level preferential policies from Qionghai City, will bring R&D, manufacturing, logistics and commercialization together under one roof, with plans in place to roll out advanced technologies, including minimally invasive surgical robots and smart home-use medical devices. The medical park is expected to be completed by mid-2025 and we anticipate that it will play a central role in accelerating our transition toward premium consumables and intelligent healthcare products.

“Innovation continues to be the focus of our business. In May 2024, we launched our AI-powered Speed Fox warehouse management and logistics platform, significantly enhancing supply chain efficiency and customer satisfaction. In July, we participated in the world’s second-ever remote robotic lobectomy, marking a breakthrough in surgical innovation. These milestones reflect our growing capability to deliver advanced, technology-driven solutions to partners and customers globally. Looking ahead, we remain committed to strengthening our global and domestic distribution networks, expanding our high-end medical product portfolio, and further integrating AI to drive operational excellence and long-term value for our stakeholders.”

Fiscal Year 2024 Financial Results:

Revenues

Revenues decreased by approximately $0.19 million to $96.91 million for the year ended December 31, 2024 from approximately $97.10 million for the year ended December 31, 2023. The decrease was mainly due to the disposal of our subsidiary, Hainan Guoxie.

Cost of revenues

Cost of revenues primarily include cost of materials, direct labor costs, overhead, and other related incidental expenses that are directly attributable to the Company’s principal operations. Cost of revenues decreased by approximately $0.29 million, or approximately 0.5%, to $63.61 million for the year ended December 31, 2024 from approximately $63.90 million for the year ended December 31, 2023. The decrease was generally in line with an overall decrease in the cost of revenue, except for certain fixed costs such as lease expense and salary of administrative employees in the Company’s production department.

Gross profit and margin

Gross profit increased by approximately $0.10 million, or approximately 0.3%, to $33.30 million for the year ended December 31, 2024 from approximately $33.20 million for the year ended December 31, 2023. Gross profit margin remained consistent at 34% for the years ended December 31, 2023 and 2024.

Operating costs and expenses

Our operating costs and expenses consisted of selling expenses, general and administrative expenses and research and development expenses.

– Selling

Selling expenses decreased by approximately $0.66 million, or approximately 9%, to $6.64 million for the year ended December 31, 2024 from approximately $7.30 million for the year ended December 31, 2023. The decrease was mainly attributable to the combined effects of the following:

(a) Our consulting fees decreased to nil for the year ended December 31, 2024 from approximately $0.78 million for the year ended December 31, 2023. The Company signed a contract with a third-party consultant on October 12, 2023 in order to conduct market research and analysis on the Company’s main basic medical consumables and robotic surgical systems in the U.S. and related overseas countries. There was no such expense for the year ended December 31, 2024.

(b) Our transportation expenses increased by approximately $0.15 million, or approximately 6%, to $2.47 million for the year ended December 31, 2024 from $2.32 million for the year ended December 31, 2023. The increase in business travel was due to an increase in demand for customer orders.

– General and administrative expenses

General and administrative expenses increased by approximately $1.24 million, or approximately 19%, to $7.78 million for the year ended December 31, 2024, from approximately $6.54 million for the year ended December 31, 2023. The increase was primarily due to (a) legal costs increasing by approximately $1.35 million from $nil for the year ended December 31, 2023 to approximately $1.35 million for the year ended December 31, 2024; (b) entertainment expenses increasing by $0.07 million from $1.22 million for the year ended December 31, 2023 to approximately $1.29 million for the year ended December 31, 2024; (c) conference fee increasing by $0.06 million from $1.22  million for the year ended December 31, 2023 to $1.29 million for the year ended December 31, 2024; offset by (d) insurance expenses decreasing by $0.11 million from $0.12 million for the year ended December 31, 2023 to $5,067 for the year ended December 31, 2024, and (e) other expenses decreasing by approximately $0.11 million from $0.34 million for the year ended December 31, 2023 to approximately $0.23 million for the year ended December 31, 2024.

– Research and development expenses

Research and development expenses increased by approximately $0.70 million, or approximately 26%, to $3.46 million for the year ended December 31, 2024, from approximately $2.75 million for the year ended December 31, 2023. The increase was mainly due to an increase in sample manufacturing expenses.

Income from operations

As a result of the factors described above, our income from operations decreased by approximately $0.36 million, or approximately 2.5%, to $14.31 million for the year ended December 31, 2024 from approximately $14.67 million for the year ended December 31, 2023.

Income tax expense

The provision for income taxes decreased by approximately $0.67 million, or approximately 19%, to $2.79 million for the year ended December 31, 2024, from approximately $3.46 million for the year ended December 31, 2023. The decrease was mainly due to a decrease of taxable income in 2024.

Net income

Our net income decreased by approximately $0.75 million, or approximately 7%, to $10.84 million for the fiscal year ended December 31, 2024 from approximately $11.59 million for the fiscal year ended December 31, 2023.

Recent developments

On February 26, 2024, the Company transferred 45% of the equity interest in Hainan Guoxie from Kang Fu International Medical to Jiangsu Huadong, and the remaining 10% equity interest was sold to a third party, Yangzhou Boxin Medical Equipment Co., Ltd. in exchange for $637,940 (RMB4.4 million) in consideration. After the transaction, the Company no longer controls Hainan Guoxie, thus the Company deconsolidated Hainan Guoxie upon the completion of the transaction.  

Effective December 26, 2024, the Company entered into an amendment (the “Amendment”) to the securities purchase agreement, originally dated December 27, 2023 (the “SPA”), between the Company and Anson Investments Master Fund LP and Anson East Master Fund LP for the sale of up to $50.50 million in convertible notes and warrants. Under the Amendment, the parties agreed that there would only be the single $6,000,000 closing under the SPA, which occurred on January 2, 2024, and would be no additional closings under the SPA.

About Meihua International Medical Technologies Co., Ltd.

Meihua International Medical Technologies Co., Ltd. is a reputable manufacturer and provider of Class I, II and III disposable medical devices with operating subsidiaries in China. The Company manufactures and sells Class I disposable medical devices, such as HDPE bottles for tablets and LDPE bottles for eye drops, throat strips, and anal bags, and Class II and III disposable medical devices, such as disposable identification bracelets, gynecological examination kits, inspection kits, surgical kits, medical brushes, medical dressing, medical catheters, uterine tissue suction tables, virus sampling tubes, disposable infusion pumps, electronic pumps and anesthesia puncture kits, among other products which are sold under the Company’s own brands and are also sourced and distributed from other manufacturers. The Company has received an international “CE” certification and ISO 13485 system certification and has also registered with the FDA (registration number: 3006554788) for over 20 Class I products. The Company has served hospitals, pharmacies, medical institutions and medical equipment companies for more than 30 years, providing over 1,000 types of products for domestic sales, as well as over 120 products which are exported to more than 30 countries internationally across Europe, North America, South America, Asia, Africa and Oceania.

For more information, please visit www.meihuamed.com.

Follow us on Webull: https://www.webull.com/quote/nasdaq-mhua. 

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to achieve its goals and strategies, and its ability to fully execute on the planned agreement, the Company’s future business development and plans of future business development, including its ability to successfully develop robotic assisted surgery systems and obtain licensure and certification for such systems, financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, fluctuations in general economic and business conditions in China, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission (“SEC”). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, including under the section entitled “Risk Factors” in its annual report on Form 20-F, as well as on Form 6-K and other filings, all of which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

IR Department
Email: secretary@meihuamed.com
Tel: +86-0514-89800199

Christensen
Yang Song
Email: yang.song@christensencomms.com
Tel: +86-010-59001548

BEIJING, April 25, 2025 /PRNewswire/ — The 16th Tengzhou Potato Industry Development Conference was held recently in Tengzhou, east China’s Shandong Province, with an aim of promoting industrial upgrading and tapping development potential.

As the largest dual-season potato production area in China, Shandong has propelled the industry forward through technological innovation and market-oriented strategies, fostering development toward scale, standardization, and branding. Tengzhou, as the core production area, boasts 700,000 mu of spring and autumn potato cultivation with an annual output of 2.6 million tonnes.

In recent years, Tengzhou has adopted a “big agriculture” philosophy to build a full industrial chain integrating production, processing, sales, and agri-tourism. The city is committed to becoming a trendsetter in China’s table potato sector.

During the conference, guests conducted field visits to variety demonstration plots, harvesting bases, and trading centers, and participated in thematic discussions on industry technologies and market trends. The achievements of Tengzhou’s potato industry received high praise from attendees.

Looking ahead, Tengzhou plans to use the conference as a platform to strengthen communication and foster mutually beneficial cooperation, transforming the “small potato” into a “big industry” and contributing to increased industry efficiency, higher farmer incomes, and agricultural development.

Original link: https://en.imsilkroad.com/p/345366.html

CHENGDU, China, April 25, 2025 /PRNewswire/ — Keymed Biosciences Inc. (HKEX: 02162) (“Keymed” or the “Company”) today announced CM518D1, a CDH17-targeted antibody-drug conjugate (ADC) developed by Keymed, received Investigational New Drug (IND) approval from the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA), and is currently undergoing Phase I/II clinical trials in China for the treatment of solid tumors. This milestone marks another breakthrough in Keymed’s ADC drug development, further strengthening its innovative therapeutic pipeline in oncology.

CM518D1: a novel ADC drug targeting CDH17

CDH17 (Cadherin-17), a member of the cadherin superfamily, is an emerging therapeutic target in gastrointestinal cancers. Studies indicate that CDH17 is highly expressed in multiple gastrointestinal cancers including colorectal cancer, gastric cancer, pancreatic cancer, esophageal cancer, and plays a critical role in tumor invasion and metastasis.

CM518D1 delivers cytotoxic payloads precisely to tumor cells by a CDH17-specific monoclonal antibody, which combines the specificity of antibodies and the potent cytotoxicity of chemotherapeutics. Preclinical studies demonstrated that CM518D1 exhibits strong direct cytotoxic activity, potent bystander killing effect and excellent plasma stability. CM518D1 exhibits remarkable anti-tumor efficacy in multiple solid tumor xenograft models and a favorable safety profile and wide therapeutic window in toxicological evaluations.

Clinical development: providing a potential treatment regimen for gastrointestinal cancers

Keymed is currently conducting Phase I/II clinical trials in China to evaluate the safety, tolerability, and preliminary efficacy of CM518D1 in patients with advanced solid tumors. Future studies aim to provide a more precise, effective, and safe therapeutic option for patients worldwide with gastrointestinal cancers.

Keymed’s ADC platform: a next-generation of proprietary ADC program for innovative drug development

Keymed’s proprietary ADC platform has capabilities for developing next-generation ADCs with novel payloads (e.g., diverse mechanisms of action), hydrophilic linkers (optimized for stability and drug release) and engineered antibodies (enhanced binding and pharmacokinetics).

To meet the demands of next-generation ADC development and clinical research, Keymed has established GMP-compliant facilities for linker-payload and ADC drug substance production. This infrastructure positions Keymed at the forefront of ADC therapeutic development, helping to address unmet medical needs for patients worldwide.

About Keymed Biosciences

Keymed Biosciences Inc. (HKEX: 02162) is a biotech company focused on the urgent unmet clinical needs, and committed to providing high-quality, affordable, innovative therapies for patients in China and overseas. Keymed was founded by medical and scientific experts who have strong experience in the transformation of scientific and technological achievements to commercialization at home and abroad.

BEIJING, April 25, 2025 /PRNewswire/ — Weibo Corporation (NASDAQ: WB and HKEX: 9898), a leading social media for people to create, share and discover content, will announce its unaudited financial results for the first quarter 2025 before the U.S. market opens on Wednesday, May 21, 2025. Following the announcement, Weibo’s management team will host a conference call from 7 AM – 8 AM Eastern Time on May 21, 2025 (or 7 PM – 8 PM Beijing Time on May 21, 2025) to present an overview of the Company’s financial performance and business operations.

Participants who wish to dial in to the teleconference must register through the below public participant link. Dial in and instruction will be in the confirmation email upon registering.

Participants Registration Link:
https://register-conf.media-server.com/register/BIbb5c504e4aeb43a380f69d373cfb8ca0

Additionally, a live and archived webcast of this conference call will be available at http://ir.weibo.com.

About Weibo Corporation

Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. The Company generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Designed with a “mobile first” philosophy, Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. To support the mobile format, we have developed and continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness

Contact:

Investor Relations
Weibo Corporation
Phone: +86 10 5898-3336
Email: ir@staff.weibo.com