Meihua International (MHUA) Announces $3M Share Buyback

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, announced today that its board of directors (the "Board") has approved and authorized a share repurchase program of up to $3 million of the Company's outstanding ordinary shares (the "Share Repurchase Program"). The Company intends to cancel all shares repurchased pursuant to this Share Repurchase Program.

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.

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