YANGZHOU, China, Dec. 5, 2022
/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 the appointments of Mr.
Xin Wang as Chief Executive Officer
and director, Mr. Lianzhang Zhao as Chief Financial Officer and Ms.
Huijuan Zhao as independent board
member, member of the compensation committee and audit committee,
and chair of the nominating committee, effective as of December 1st, 2022, to fill the
vacancies arising from the voluntary resignations of Mr.
Yulin Wang as CEO, interim CFO and
director of the Company due to the expiration of his employment
contract, and Mr. Xu Han as
independent board member, member of compensation committee and
audit committee, and chair of nominating committee, who resigned
for personal reasons.
Prior to joining MHUA, from 2021 until 2022, Mr. Xin Wang was CEO of the Jiangsu Yada Technology
Group Co., Ltd., a PRC company that develops distributes medical
devices. In addition, Mr. Wang served as Vice General Manager of
Shanghai New Asia (Group) Co., Ltd., a pharmaceutical company,
where he led production management, market expansion, research and
development of proprietary Chinese traditional medicines from 2020
to 2021. From 2018 to 2020, Mr. Wang held a key position at Panda
Group, Inc., a franchise restaurant corporation based in
California, where he was in charge
of large commercial projects related to expanding its business
operations and upgrading its brand strategy in the US market. In
addition, Mr. Wang worked as a financial analyst at Morgan Stanley
and as area manager at Citibank, N.A., thus providing him insight
into global investment banking and US financial markets. Mr. Wang
obtained his bachelor's degree from the University of California Santa Barbara, where he
double majored in Financial Mathematics & Statistics Analysis
and Computer Science. He also obtained his master's degree in
Actuarial Science in 2012 from UC Santa Barbara.
Prior to his appointment at MHUA, Mr. Lianzhang Zhao was Senior
Partner at Yangzhou Hanrui Accounting Firm from 2013 to 2022. Prior
to that, from 2000 to 2013, Mr. Zhao served as the chief financial
officer of Yangzhou Guolian Garment Factory Co., which is a Sino-US
joint venture company in China.
Mr. Zhao is a certified public accountant (CPA) in China, allowing him to draw on his diverse
financial accounting experience across multiple international
markets to support MHUA's financial reporting matters. Mr. Zhao
holds bachelor's degree in Financial Accounting and Economic
Management in 1990 from Yangzhou University.
Ms. Huijuan Zhao served as a
member of the management team at Ping'An Bank, where she oversaw
services for high net wealth clients and risk control practices
from 2019 to 2022. In her prior role as head of marketing and risk
control operations at two Jiangsu-based privately owned businesses
operating in business and financial service sectors from 2013 to
2019, Ms. Zhao helped build out market expansion and risk control
protocols and playbook and played critical supervisory and coaching
roles to the growth and expansion of both businesses. She holds a
bachelor's degree in Financial English from Suzhou University,
which she received in 2012. Ms. Zhao, our independent director, and
Mr. Zhao, our CFO, are not related.
Mr. Yongjun Liu, Chairman of the
Company, commented: "We are delighted to welcome Xin, Lianzhang and
Huijuan to the Company, all stalwarts in their respective
expertise. They are experienced leaders with excellent track
records and international background. Their leadership and market
insights will help MHUA continue to grow and scale in domestic and
international markets, with the goal of achieving strategic
transformation of MHUA."
About Meihua International Medical Technologies Co., Ltd.
Meihua International Medical Technologies 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 eye drop bottles,
medicine bottles and anal bags, and Class II and III disposable
medical devices, such as identification tape, gynecological
examination kits, inspection kits, surgical kits, medical brushes,
medical dressing, masks, disposable infusion pumps, electronic
pumps and puncture kits, which products are sold under its own
brands and also sourced and distributed from other manufacturers.
The Company has received international "CE" certification and ISO
13485 system certification and has also registered with the FDA
(registration number: 3006554788) for more than 20 products. The
Company has served hospitals, pharmacies, medical institutions and
medical equipment companies for over 30 years, providing more than
800 types of products for domestic sales, as well as 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.
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 goals and strategies; the Company's future
business development and plans of future business development;
financial condition 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, 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 more information, please contact:
Janice Wang
WFS Investor Relations
Phone:
+86 13811768599
+1 628 283 9214
Email: services@wealthfsllc.com
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SOURCE Meihua International Medical Technologies Co., Ltd.