Meihua International Medical Technologies Co., Ltd. Announces Share Repurchase Program of Up to $3 million
Meihua International Medical Technologies (MHUA) announced a $3 million share repurchase program approved by its board. The program allows MHUA to buy back outstanding ordinary shares through open market or private transactions, complying with securities laws and the company's insider trading policy. CEO Xin 'Steven' Wang highlighted that the repurchase reflects confidence in the company's future and commitment to enhancing shareholder value. The repurchased shares will be cancelled. The program can be suspended or discontinued anytime and will begin after the semi-annual report's filing for the period ending June 30, 2024.
- Share Repurchase Program of up to $3 million announced.
- Repurchased shares will be cancelled, reducing outstanding shares and potentially increasing EPS.
- Reflects company confidence in future growth and commitment to enhancing shareholder value.
- The program does not obligate the company to repurchase any specific amount of shares.
- The buyback can be suspended or discontinued at any time.
Share repurchase programs often indicate that a company believes its stock is undervalued. By buying back up to
However, investors should consider the scale of the repurchase.
From a market perspective, the share repurchase program could enhance Meihua's stock attractiveness. The decision to buy back shares during a period of innovation and expansion suggests a stable financial footing. The company's mention of innovations and operational efficiencies introduced through AI also highlights a forward-thinking approach that could attract tech-savvy investors.
However, caution is warranted. Market conditions and other external factors can affect the actual execution of the share repurchase. The program's success also depends on the company's continued ability to generate significant cash flow. Investors should closely monitor upcoming financial reports for more detailed insights into the company's performance and cash reserves.
YANGZHOU,
The ordinary shares may be repurchased from time to time through open market purchases or privately negotiated transactions at prevailing prices, in accordance with securities laws and other legal requirements, including Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, as well as the Company's insider trading policy, and subject to market conditions and other factors.
"With ongoing efforts to innovate, expand our premium product offerings, and enhance operational efficiency through optimized production processes and the application of AI, we continue to strengthen our business model and generate significant cash flow, which enables us to invest for the long term," said Xin "Steven" Wang, Chief Executive Officer of Meihua. "This Share Repurchase Program including the planned cancellation of repurchased shares not only underscores our confidence in Meihua's future growth but also demonstrates our commitment to enhancing shareholder value through concrete actions."
The adoption of this Share Repurchase Program does not obligate the Company to acquire any specific amount of ordinary shares, and it may be suspended or discontinued at any time by the Board.
The Company expects to implement the Share Repurchase Program and a corresponding 10b5-1 plan following the filing of its Semi-Annual Report on Form 6-K for the period ending June 30, 2024.
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
For more information, please visit www.meihuamed.com.
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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
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IR Department
Email: secretary@meihuamed.com
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Email: yang.song@christensencomms.com
Tel: +86-010-59001548
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SOURCE Meihua International Medical Technologies Co., Ltd.
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