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BALCAO · SURGICAL & MEDICAL INSTRUMENTS & APPARATUS · SMALL CAP

Meihua International Medical Technologies Co. Ltd. MHUAF

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$61.8M
▼ 36.2% YoY
$6.8M
▼ 37.5% YoY
$554,254
▼ 96.2% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Meihua is not a Chinese operating company but a Cayman Islands holding company with operations conducted by its subsidiaries located in mainland China. Meihua International is a Cayman Islands exempted company incorporated on November 10, 2020. Through our operating subsidiaries, Yangzhou Huada, Jiangsu Yada, and Jiangsu Huadong, we mainly specialize in the research, development, manufacturing and sales of Class I, Class II and Class III disposable medical devices. We provide our customers with one-stop solution for a variety of safety and quality disposable medical devices. For the fiscal years ended December 31, 2025, 2024, and 2023, our total revenue was $61,791,957, $96,909,642, and $97,098,915, respectively. In July 2025, the Company commenced a Software-as-a-Service ("SaaS")-related business on a trial basis through the subsidiary, Meihua Future.

Written from the business description in Meihua International Medical Technologies Co., Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 29 April 2026. Every sentence was checked against that document before publication.

Growth

USD 61.8M
Revenue, FY2025 · full 7-year series below
Revenue $M Net income $M
FY2025 · Revenue 61.8 · Net income 6.8
50M100M
201920222025
Compound annual growth
−15.8%
−7.1%
+2.8%
−18.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −7.1% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

11 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 13.4% · Net 11.0%
10%20%
201920222025
ROE
FY2025 · ROE 3.9%
10%20%
201920222025
Three returns, three denominators.

Each USD of equity produced 4 cents of profit this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 0.6
10M20M-5M-10M
201920222025
Net buybacks $ Dividends $
FY2024 · Dividends · · Net buybacks 200000.0
100000200000
2024

Total assetsUSD 207.2M
EquityUSD 188.9M
CashUSD 15.2M
Gross debtUSD 9.0M
Net debtUSD -6.2M
Current ratio8.42×

The company holds more cash than debt.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
MHUAF, 7-year financial record
Metric 2025202420232022202120202019
Revenue $B0.10.10.10.10.10.10.1
Operating income $B0.00.00.00.00.00.00.0
EBITDA $B0.00.00.00.00.00.00.0
Income tax $B0.00.00.00.00.00.00.0
Net income $B0.00.00.00.00.00.00.0
Free cash flow $B0.00.00.0−0.0−0.00.00.0
EPS, diluted $18.0439.6248.560.271.050.95◌
Dividend / sh $◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————
ROE %3.97.18.25.121.826.425.9
Shares out B◌0.030.020.020.020.02◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 33 reconciliationsAUDITED

Reconciled in 7 of the 7 fiscal years we could check. 26 checks were skipped: the balance sheet is not tagged before 2020. 12 checks were skipped: EPS is not tagged before 2019. 12 checks were skipped: revenue is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivitySurgical & Medical Instruments & Apparatus
Listed onOTC market
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2019

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