Jin Medical International Ltd.

Jin Medical International Ltd. reported its unaudited financial results for the first half of fiscal year 2026, ending March 31, 2026. The company experienced a 9.7% decrease in total revenue to $8.9 million, primarily due to lower sales of other products and foreign exchange pressure impacting orders from its largest Japanese customer. Despite this, gross profit remained stable at $2.4 million, and gross margin improved to 26.9%. The company recorded a net loss of $0.2 million, compared to a net income of $0.01 million in the prior year period. Jin Medical emphasized its solid financial position with $9.1 million in cash and $21.0 million in short-term investments, along with increased investment in research and development for long-term growth.

Jin Medical International Ltd. shareholders approved several significant proposals, including the acquisition of Beijing Tongsheng Technology Co., Ltd. via a VIE structure, involving the issuance of 64,186,456 Class A Ordinary Shares. Additionally, shareholders approved increasing Class B Ordinary Share voting rights from 30 to 800 votes, a repurchase of 3,769,057 Class A shares, and a concurrent issuance of 3,769,057 Class B shares to Jolly Harmony, an entity owned by the CEO. The company also increased its authorized share capital and approved a financial advisor engagement.

Jin Medical International Ltd. announced the resignation of Dr. Jiayuan (James) Tong as an independent director, effective July 9, 2026. Dr. Tong also stepped down from his committee roles, including Chairperson of the Nominating and Corporate Governance Committee. The company subsequently appointed Mr. Ning Xue as an independent director, effective July 14, 2026, to fill the vacancy. Mr. Xue will assume Dr. Tong's committee positions and will receive US$14,082 for his service during his initial term.

Jin Medical International Ltd. announced upcoming shareholder meetings to vote on several significant corporate actions. These include a proposal to dramatically increase the voting rights of Class B Ordinary Shares from 30 to 800 votes per share, alongside a plan to acquire Beijing Tongsheng Technology Co., Ltd. by issuing 64,186,456 Class A Ordinary Shares. The company also proposes to repurchase and subsequently issue 3,769,057 shares to Jolly Harmony, an entity owned by the CEO, and to increase its authorized share capital. The board unanimously recommends approval for all proposals.

Jin Medical International Ltd. will hold shareholder meetings on July 9, 2026, to approve several significant corporate actions. Key proposals include the acquisition of Beijing Tongsheng Technology Co., Ltd. for 64,186,456 Class A shares, a substantial increase in authorized share capital from $50,000 to $15,005,000, and a significant change in Class B ordinary share voting rights from 30 to 800 votes per share. Additionally, the company plans to repurchase Class A shares from its CEO's entity, Jolly Harmony, and issue Class B shares in exchange, further consolidating control.

Jin Medical International Ltd. announced a change in its independent registered public accounting firm. The company dismissed Audit Alliance LLP and subsequently engaged Enrome LLP as its new auditor, effective June 2, 2026, for the fiscal year ending September 30, 2026. The company confirmed that there were no disagreements with the former auditor and no prior consultations with the new auditor on specific accounting matters.