Company Description

We are a holding company incorporated in the Cayman Islands. Our ordinary shares offered in this prospectus are shares of our Cayman Islands holding company. As a holding company with no material operations of our own, we conduct our business through our operating subsidiaries in China. We own 100% equity interest of all our subsidiaries including the operating subsidiary in China and do not have a VIE structure. We, through our operating subsidiaries in China, primarily are engaged in the business of the manufacture and distribution of urology medical devices and care products as well as sales and distribution of cardiovascular and cerebrovascular medical devices. Our key urology medical device products are as follows and they are classified as Class II medical devices and approved for distribution and sale in China: 1. Guide Wire: a medical device used for urological surgery and diagnosis, mainly used to guide other instruments (such as ureteroscopes, stent tubes, etc.) into the urinary tract. 2. Catheter Sheath: a medical device used in urological surgery, mainly used to establish a catheter during endoscopic surgery, thereby facilitating the entry of endoscopes and other instruments into the urinary tract. 3. PTA Balloon Catheter: mainly used for percutaneous transluminal angioplasty of ureteral stricture, or for ureteral dilation before ureteroscopy or stone manipulation. Our key cardiovascular and cerebrovascular medical device products are as follows and they are classified as Class III medical devices and approved for distribution and sale in China: 1. Catheter Series for Cardiovascular and Cerebrovascular Intervention: a tubular device used for the delivery of liquids, gases, or other substances within the body. Depending on the specific application and design, the components of a catheter may include an outer shell, inner lumen, feeding end, outlet end, guidewire, and operable parts. 2. Guidewire Series for Cardiovascular and Cerebrovascular Intervention: a thin, flexible metal wire used in medical interventional therapy, primarily for guiding other medical devices (such as catheters, stents, etc.) into blood vessels or other body cavities. 3. Stent Series for Cardiovascular and Cerebrovascular Intervention: medical devices used to support or repair narrowed or occluded blood vessels, cavities, or other body structures within the human body. 4. Embolization Series for Cardiovascular and Cerebrovascular Intervention: A category of medical devices inserted into the body or natural orifices through surgical means for therapeutic or diagnostic purposes. Our key urology care products include Shenni Oil Antimicrobial Wet Wipes, Shenni Oil Antimicrobial Spray, and Shenni Oil Feminine Intimate Care Liquid are a range of products designed for the cleaning and care of both men and women’s intimate hygiene. Our customers are pharmaceutical and device distributors, pharmacies and hospitals. . Distributors and pharmacies: they are large distributors who we directly cooperate with, such as pharmaceutical and medical device distribution companies, including Huarun Jiangxi Pharmaceutical Co., Ltd, Sinopharm Holding Jiangxi Medical Device Supply Chain Co., Ltd, Sinopharm Holding Ganzhou Medical Trade Co., Ltd, and Sinopharm Holding Jiangxi Co., Ltd. We also sell to the large chain pharmacies in China, such as: . Hospitals: we sell to public hospitals of grade 3 or above in all provinces (autonomous regions), municipalities, and directly administered municipalities in China, as well as major private medical groups across the country. --- We derive our revenue primarily from three sources: (i) sales and distribution of cardiovascular and cerebrovascular medical devices, (ii) sales and distribution of urology medical devices, (iii) sales and distribution of urology care products. During the fiscal year ended March 31, 2024, our revenue increased by approximately 1618.7%, to approximately $10.58 million from $0.62 million for the fiscal year ended March 31, 2023. During the six months ended September 30, 2024, our revenue increased by approximately 807.8%, to approximately $11.18 million from $1.23 million for the six months ended September 30, 2023. In the fiscal year ended March 31, 2024, our net income amounted to approximately $1.54 million, representing an increase of approximately 1377.2%, compared to net loss of $0.12 million in the fiscal year ended March 31, 2023. The significant increase in revenue and net income in the fiscal year ended March 31, 2024 comparing to the fiscal year ended March 31, 2023 was primarily attributable to (i) new business of sales and distribution of cardiovascular and cerebrovascular medical devices that we developed during fiscal year 2024 and (ii) increased marketing and promotion activities after the control measures for COVID-19 lifted in China since February 2023. We have made major adjustments of our business strategy to sell and distribute for high-end medical device products of other manufacturers, in addition to the urology medical devices that manufactured by ourselves. Due to the long cycle, high difficulty and high investment in research and development of our own products and obtaining the registration and permits for such products, we have decided to rapidly enter the market as a distributor for certain high-quality products made by other manufacturers to quickly grow our business and increase our revenues. This new business model has generated revenues for the new products of intracranial stenting systems, intracranial support catheters, releasable spring coils, nerve guidewires, guidewires, balloon catheters, microcatheters, embolization stents, single-use intracranial thrombus aspiration catheters, and flow-directed embolization devices during fiscal year 2024, which accounted for 98% of our increased revenue. During the six months ended September 30, 2024, our net income amounted to approximately $1.87 million, representing an increase of approximately 948.5%, compared to net income of $0.18 million in the six months ended September 30, 2023. We are committed to the research, development, production, and sales of high quality urology medical devices and care product as well as sales and distribution of high quality cardiovascular and cerebrovascular medical devices and other medical devices. We aim to bring smarter, efficient, and accessible and minimally invasive surgical instruments to doctors and patients in China. We have a team of professionals specializing in medical device research and development, production, quality control, marketing, sales and distribution. Our operating subsidiaries are incorporated and operating in mainland China and they have received all required permissions from Chinese authorities to operate their current business in China, which are Business license, Good Manufacturing Practice Permit, Bank Account Open Permit, Healthcare Product Permit, Medical Device Manufacture Permit and Medical Device Distribution Permits. --- Our principal executive offices are located at Biopharmaceutical Industry Park, South Bridge Yongfeng, Jian City, Jiangxi Province, China. Our telephone number at this address is +86-0796-2218888. Our registered office in the Cayman Islands is located at Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands. Our agent for service of process in the United States is Cogency Global Inc. located at 122 East 42nd Street, 18th Floor, New York, NY 10168.