Jin Medical International Ltd. (China)

The Company engages in the design, development, manufacturing, and sale of wheelchair and other living aids products for people with disabilities or impaired mobility in China and internationally. It also offers oxygen concentrators and bathing machines.
The Company s principal executive offices are located at No. 33 Lingxiang Road, Wujin District, Changzhou City, Jiangsu Province People's Republic of China, and our phone number is +86519 89607972. the Companys registered office in the Cayman Islands is located at P.O. Box 31119, Grand Pavilion, Hibiscus Way,802 West Bay Road, Grand Cayman, KY1-1205 Cayman Islands, Cayman Islands, and the phone number of its registered office is + 1345 769 9372. the legal name is JIN MEDICAL INTERNATIONAL LTD., and it s operate the business under the commercial name “Jin Med”, which is included in our logo. The customers recognize its by Jin Med.
The Company s agent for service of process in the United States is Cogency Global Inc., 122 E. 42nd Street, 18th Floor, New York, NY 10168. The Company s maintain a corporate website at www.zhjmedical.com. The information contained in, or accessible from, the website or any other websites does not constitute a part of this prospectus.
The Company s a holding company incorporated in the Cayman Islands. Its Ordinary Shares offered in this prospectus are shares of its Cayman Islands holding company. As a holding company with no material operations of its own, Its conduct its operations through its VIE established in the People's Republic of China. The Company s not any equity ownership of its VIE; instead it control and receive the economic benefits of its VIE's business operations through certain contractual arrangements, or “VIE Agreements”, which are used to replicate foreign investment in China-based companies where Chinese law prohibits direct foreign investment in the Chinese operating companies.
The Companys China-based VIE, Changzhou Zhongjing and its subsidiaries, design and manufacture wheelchairs and living aids products for people with disabilities, the elderly, and people recovering from injury. The business focuses primarily on wheelchairs. For the six months ended March 31, 2021, and fiscal years ended September 30, 2020 and 2019, sales of wheelchairs and wheelchair components represented approximately 99.7 , 98.9 and 99.7 , respectively, of its revenue, while sales of living aids products such as oxygen concentrators and bathing machines represented approximately 0.3 , 1.1 and 0.3 , respectively, of the revenue. Currently, the living aids products are only sold to a few selected customers to test the markets for these products. The majority of its products are sold to dealers in Japan and China, while a small number of the products are also sold to dealers located in other regions including the United States, Canada, Australia, Korea, Israel, Singapore, and others.
Since 2006, Changzhou Zhongjin and its subsidiaries have been designing and manufacturing wheelchairs. Almost all of its wheelchairs currently for sale are manual wheelchairs. The only started selling electric wheelchairs in 2018, and electric wheelchairs accounted for 1 of its revenues for each of the six months ended March 31, 2021, and the fiscal years ended September 30, 2020 and 2019. Its manual wheelchair product category has a wide range of products at various price points, consisting of more than thirty models. Its mid to high-end wheelchairs and components are mostly geared towards customers in Japan, and its relatively lower-end wheelchairs and components are targeted for customers in China. The wheelchair markets in Japan and China are favorably exposed to multiple macro-economic growth driving factors such as rising spending power, growing popularity of outdoor and active lifestyles for the disabled population, and general needs for better mobility equipment. In addition, we believe demand for its products in Japan and China will increase over the next several decades due to the growing aging population. According to the Frost Sullivan Report, as of early 2020, more than 25 of Japan's population is over 65 years old, the highest proportion in the world, and by 2030, one in every three people will be 65 or older. Japanese demographers estimate that senior citizens will account for 40 of the population in Japan in 2060. Similarly, in China, according to the National Bureau of Statistics of China, the population aged 65 or above has grown at a Compound Annual Growth Rate (“CAGR”) of 6.1 from approximately 150.4 million to approximately 190.6 million from 2016 to 2020.
The Company s seek to deliver quality products with customized attributes tailored to its end users' specifications at competitive prices. Its wheelchairs are designed to be lightweight and ergonomic. Changzhou Zhongjin operates two manufacturing facilities in China, where it carry out design, engineering, manufacturing, and assembly of its products. Changzhou Zhongjin owns the facilities located in Changzhou City, Jiangsu Province, China, and lease the facility located in Taizhou City, Jiangsu Province, China for a term of 30 years from 2014 to 2043. While it strive to achieve efficiency by standardizing and optimizing certain procedures across the production cycle, it understand the importance of maintaining the quality of the products and strictly enforce its quality control protocols at every step of our production process.
Pursuant to PRC law, each entity formed under PRC law must have a business scope as submitted to the Administration of Industry and Commerce or its local counterpart. Depending on the particular business scopes, approval by the relevant competent regulatory agencies may be required prior to commencement of business operations. Since the sole business of WFOE is to provide Changzhou Zhongjin with technical support, consulting services and other management services relating to its day-to-day business operations and management in exchange for a service fee approximately equal all pre-tax profits of Changzhou Zhongjin and its subsidiaries (minus any accumulated losses (if any) of Changzhou Zhongjin and its subsidiaries in the previous fiscal year, and the amount required for operating funds, expenditures, taxes and other statutory contributions in any particular fiscal year), such business scope is appropriate under PRC law. Changzhou Zhongjin, on the other hand, is also able to, pursuant to its business scope, conduct manufacturing business of various medical devices. Changzhou Zhongjin is approved by Changzhou Branch of Jiangsu Administration for Industry and Commerce to engage in its business.
The Company control Changzhou Zhongjin through a series of contractual arrangements, which are described under “Contractual Arrangements among WFOE, Changzhou Zhongjin and Changzhou Zhongjin's Shareholders.”
History
On January 26, 2006, its VIE, Changzhou Zhongjin, was formed pursuant to PRC law as a limited company. The operate its wheelchair and living aids product design and manufacture business through Changzhou Zhongjin and its wholly owned subsidiaries, Zhongjin Taizhou and Zhongjin Jing'ao Trading, in China.
On June 17, 2013, Zhongjin Taizhou was formed pursuant to PRC law as a limited company.
On December 18, 2014, Zhongjin Jing'ao was formed pursuant to PRC law as a limited company.
On January 14, 2020, Jin Med, an exempted company limited by shares, was formed under Cayman Islands law as a holding company.
On February 25, 2020, Zhongjin HK, a holding company, was formed in Hong Kong, which owns 100 shares of Erhua Med, or WFOE, which was formed on September 24, 2020 as a limited company pursuant to PRC law.