YANGZHOU, China, April 24, 2024 /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 reported its financial results for the fiscal year ended December 31, 2023. All amounts below are in U.S. dollars. Fiscal Year 2023 Financial Metrics: Revenues remained stable and decreased slightly by 6% to approximately $97.1 million for the year ended December 31, 2023, from approximately $103.3 million for the year ended December 31, 2022. Excluding the impact of the RMB exchange rate, revenues decreased by 1.5% compared to 2022. Gross profit was approximately $33.2 million for the year ended December 31, 2023, compared with approximately $38.1 million for the year ended December 31, 2022. Gross margin decreased slightly to 34% for the year ended December 31, 2023, from 37% for the year ended December 31, 2022. Income from operations was approximately $14.7 million for the year ended December 31, 2023, compared to approximately $10.8 million for the year ended December 31, 2022. Net income attributable to shareholders was approximately $11.6 million for the year ended December 31, 2023, compared to approximately $6.2 million for the year ended December 31, 2022. For the Years Ended December 31 (in $ millions, except earnings per share; differences due to rounding) 2023 2022   %Change Revenues $            97.1 $        103.3 (6%) (Mainlyimpacted by theRMB exchangerate) Gross profit 33.2 38.1 (13 %) Gross margin 34 % 37 %    (3 percentagepoints) Income from operations 14.7 10.8 36 % Net income attributable to shareholders 11.6 6.2 86 % Net income per share – Basic and Diluted 0.49 0.27 81 % Mr. Yongjun Liu, Chairman of the Company, commented, "We closed out 2023 with substantially higher cash flow and a significant expansion in our profitability, with our revenue remaining relatively stable despite a softer than expected economic rebound in China. Our success in driving the expansion in our bottom line was primarily a result of our strategic initiatives to streamline and refine our operations and re-focus our efforts to increasing our sales of high-end products. In 2024, we acquired equity ...