YANGZHOU, China, Nov. 17,
2023 /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, announced today the
upcoming launch of Speed Fox, an innovative AI-powered warehouse
management and medical device logistics platform. Developed in
collaboration with the esteemed team from a well-known higher
education institution in China
(the "Institution), MHUA believes that Speed Fox represents a
strategic move by MHUA to diversify its business and revolutionize
the field of medical device logistics.
Under the banner of innovation, MHUA launched the Speed Fox
program earlier this year, leveraging the cutting-edge capabilities
of the ChatGPT tool. In close collaboration with the Institution's
team, MHUA has intricately crafted an advanced AI health services
platform that is designed to revolutionize warehouse management
operations and elevate user interaction and experience.
MHUA believes that Speed Fox holds a pivotal role in the realm
of medical device logistics warehouse management, streamlining
operations and delivering an unparalleled user experience. Within
the warehouse, Speed Fox is designed to act as a virtual assistant,
with the goal of seamlessly managing inventory by providing
real-time updates on stock levels, tracking shipments, and
generating comprehensive reports. Harnessing the power of ChatGPT's natural language processing, MHUA
believes that this intuitive interface will empower warehouse staff
to communicate seamlessly with the system, issuing commands,
checking product availability and
receiving automated alerts for restocking.
Beyond its operational excellence, Speed Fox is also designed to
serve as an intelligent interface for clients and healthcare
professionals. Users can effortlessly access information about the
medical devices, track their orders, and receive expert guidance on
product usage. Driven by advanced ChatGPT language understanding,
MHUA believes that the platform will help ensure accurate responses
to user queries, delivering a seamless and personalized customer
experience.
MHUA anticipates that the adaptive ChatGPT learning capabilities
of Speed Fox will enable the platform to stay at the forefront of
the ever-evolving landscape of medical device logistics. MHUA
believes that this will also ensure the information provided by
Speed Fox will not only be up-to-date but also compliant with
industry standards.
Speed Fox is expected to extend its application scenario to include proactive user
engagement, leveraging historical data and user preferences to
anticipate user needs. The platform is expected to offer
personalized recommendations for medical devices, tailored
specifically to individual requirements. MHUA believes that with the anticipated level of
automation that Speed Fox will provide, MHUA will be able to
optimize overall efficiency, reduce response times, and
establish Speed Fox as an indispensable asset in the dynamic and
critical field of medical device logistics.
"We believe that Speed Fox will
revolutionize the way businesses manage their medical device
logistics," said Mr. Yongjun Liu,
Chairman of MHUA. "By integrating cutting-edge AI technology with
our extensive expertise in medical devices, we are aiming to
pioneer a new era of efficiency, reliability and customer
satisfaction. The Company is excited to announce that the first
edition of Speed Fox is scheduled for launch in mid-2024. By
diversifying our business and venturing into the realm of
AI-powered health services, MHUA aims to empower businesses across
various sectors and cement our position as an industry
leader."
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 China. The Company manufactures and sells
Class I disposable medical devices, such as HDPE bottles for
tablets and LDPE bottles for eye drops, throat strip, and anal
bags, and Class II and III disposable medical devices, such as
disposable identification bracelets, gynecological examination
kits, inspection kits, surgical kits, medical brushes, medical
dressing, medical catheters, uterine tissue suction tables, virus
sampling tubes, disposable infusion pumps, electronic pumps and
anesthesia puncture kits, among other products which are sold under
Meihua's own brands and are also sourced and distributed from other
manufacturers. The Company has received an international "CE"
certification and ISO 13485 system certification and has also
registered with the FDA (registration number: 3006554788) for over
20 Class I products. The Company has served hospitals, pharmacies,
medical institutions and medical equipment companies for over 30
years, providing over 1,000 types of products for domestic sales,
as well as over 120 products which are exported to 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 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 China, and assumptions underlying or related
to any of the foregoing and other risks contained in reports filed
by the Company with the U.S. Securities and Exchange Commission
("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, including under the section
entitled "Risk Factors" in its annual report on Form 20-F, as
amended, filed with the SEC on August 29,
2023, its semi-annual report on Form 6-K, filed with the SEC
on October 2, 2023, as well as other
current reports on Form 6-K and other filings, all of 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:
Janice Wang
Wealth Financial Services LLC
Phone:
+86 13811768599
+1 628 283 9214
Email: services@wealthfsllc.com
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SOURCE Meihua International Medical Technologies Co., Ltd.
