Meihua International Medical Technologies Co., Ltd. Receives Notification of Deficiency from Nasdaq Related to Delayed Annual Report on Form 20-F

YANGZHOU, China, May 20, 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 that on May 18, 2022, it received notice from The Nasdaq Stock Market ("Nasdaq") that, because the Company has not yet filed its annual report on Form 20-F for the year ended December 31, 2021, the Company is out of compliance with the Nasdaq rules for continued listing (specifically, Rule 5250(c)(1)). Under the applicable Nasdaq rules, the Company now has 60 calendar days to submit a plan to regain compliance. If Nasdaq accepts their plan, the Company may be granted an exception of up to 180 calendar days from the filing's due date, or until November 14, 2022, to regain compliance.

In response to the notice, the Company intends to complete and file our annual report on Form 20-F for the year ended December 31, 2021 as soon as possible, and well within a time frame sufficient to regain compliance with applicable listing rules.

The notice has no immediate impact on the listing or trading of the Company's securities on Nasdaq.

About Meihua International Medical Technologies Co., Ltd.

Meihua International Medical Technologies, 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 such as eye drops bottle, medicine bottle, anal bag etc., 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, puncture kits, etc. under their own brands and also distribute such disposable medical devices sourced 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 over 20 products. The Company serves hospitals, pharmacies, medical institutions, and medical equipment companies for over 30 years with more than 800 products for domestic sales, as well as 120 products for exports 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 Statement

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; 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 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:

Investor Relations
EverGreen Consulting Inc.
Ms. Janice Wang, Managing Partner
Email: [email protected]
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)

SOURCE Meihua International Medical Technologies Co., Ltd.