Meihua International Medical Technologies Co., Ltd.
MHUAF · Surgical & Medical Instruments & Apparatus · EDGAR filings ↗
Grade
C56Profitable Chinese medical-device maker with strong margin percentiles but a sharp revenue/earnings collapse, low absolute returns, and China-governance and dilution red flags.
Strengths
- Healthy reported margins (operating 84th, net 83rd pct) and very strong liquidity (current 87th, quick 89th pct)
- Positive FCF and ROA in the 80th pct relative to sector
Risks
- Revenue fell 36% (8th pct) and net income fell 37% (24th pct); absolute ROE only ~3.6%
- China VIE/PCAOB and regulatory overhang plus dilutive Reg-S placements (shares issued at $0.38)
Notable findings
- Revenue declineRevenue -36.2% YoY
Key metrics
Gross margin
31.0%
Operating margin
13.4%
Net margin
11.0%
Return on equity
3.6%
Return on assets
3.3%
Revenue growth (QoQ)
-36.2%
Net-income growth
-37.5%
Current ratio
8.4×
Free cash flow
$554K
Tangible book value
$188M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001213900-26-049081 ↗ |
| 20-F | 2025-04-25 | 2024-12-31 | 0001213900-25-035216 ↗ |
| 20-F | 2024-04-24 | 2023-12-31 | 0001213900-24-035784 ↗ |
| 20-F | 2023-04-14 | 2022-12-31 | 0001213900-23-029709 ↗ |
| 20-F | 2022-07-29 | 2021-12-31 | 0001213900-22-042817 ↗ |