Jin Medical International Ltd. (ZJYL) SEC Filings & Earnings Calls
EquiReason read 20 Jin Medical International Ltd. SEC filings in the last 12 months. Latest: SC 13D/A on 2026-09-25 — CEO Erqi Wang's beneficial ownership diluted from 6.77% to 3.35% and voting power from 98.12% to 96.15% due to issuance of 79,762,048 Class A Ordinary Shares for an acquisition..
Source: SEC EDGAR filings · figures as of 2026-03-31 · read by EquiReason
- Market cap
- 16.0M
- P/E TTM
- 205.0
- Dividend yield
- —
- 52-week
- —
- Next earnings
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Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
25 Sep 2026SC 13D/ACEO Erqi Wang's beneficial ownership diluted from 6.77% to 3.35% and voting power from 98.12% to 96.15% due to issuance of 79,762,048 Class A Ordinary Shares for an acquisition.share dilutionopen
Figures in the filing · each found in the filing text
| Beneficial ownership percentage - Erqi Wang · 2026-09-24 | 3.4% | |
| Voting power percentage - Erqi Wang · 2026-09-24 | 96.2% | |
| Shares issued for acquisition · 2026-09-24 | 79,762,048 |
Risks flagged
Insider dilution and control erosion
“Mr. Wang's beneficial ownership was diluted from approximately 6.77% to approximately 3.35%” · word for word
24 Sep 20266-KJin Medical International Ltd. completes acquisition via VIE structure for $159.4M, issuing 71.3M Class A shares. Also issues 8.5M shares for advisory fees. Post-closing shares outstanding: 158.2M.acquisitionopen
Figures in the filing · each found in the filing text
| Class A ordinary shares issued · Q3-2026 | 71,282,488 | |
| Total ordinary shares outstanding · Q3-2026 | 158,194,533 |
Risks flagged
Significant share dilution from acquisition; VIE structure introduces regulatory risk in China.
“issued an aggregate of 71,282,488 Class A Ordinary Shares... and 8,479,560 Class A Ordinary Shares to Veltrion Haskel Holdings Limited”
8 Sep 20266-KJin Medical International Ltd. entered into a VIE Control Master Acquisition Agreement to acquire Huaxia Qiying for $159.4M in stock, gaining ginseng-related biological assets and rare ginsenoside technology platform.acquisitionopen
Risks flagged
Target has no established commercial business, adding execution risk
“The Target does not currently operate an established commercial business” · word for word
VIE structure introduces regulatory and control risks in China
“Neither the Company nor Erhua Med will acquire legal title to the equity interests of Chenglan Kangxu or Huaxia Qiying solely as a result of the VIE Agreements.” · word for word
21 Aug 2026SC 13DInsider Erqi Wang converted Class A shares to super-voting Class B shares, maintaining 98.12% voting control after a dilutive acquisition.open
Risks flagged
Insider entrenchment risk
“Mr. Erqi Wang beneficially owned approximately 98.12% of the aggregate voting power of the Issuer.” · word for word
4 Aug 20266-KJin Medical International Ltd. completed acquisition of contractual control over Beijing Tongsheng Technology Co., Ltd. via VIE agreements, issuing 64.2M Class A shares as consideration.acquisitionopen
Figures in the filing · each found in the filing text
| Total Shares Outstanding · 2026-07-28 | 78,432,485 | |
| Class A Shares Outstanding · 2026-07-28 | 73,663,428 | |
| Class B Shares Outstanding · 2026-07-28 | 4,769,057 | |
| Non-Restricted Class A Shares · 2026-07-28 | 1,673,276 |
Risks flagged
Significant shareholder dilution from issuance of 70.6M new Class A shares for acquisition and advisory fees.
“Company issued an aggregate of 64,186,456 Class A Ordinary Shares to the Seller and 6,418,646 Class A Ordinary Shares to Goldeenridge Ventures Ltd.”
VIE structure carries regulatory and control risks, especially under Chinese regulatory environment.
“Neither the Company nor Erhua Med would acquire legal title to the equity interests of the Target.” · word for word
Low free float: only 1.67M of 78.4M shares are non-restricted, implying limited liquidity and potential price volatility.
“an aggregate of 1,673,276 Class A Ordinary Shares were non-restricted shares.” · word for word
20 Jul 20266-KShareholder meetings approved increasing Class B voting rights from 30 to 800 votes per share, and a share repurchase from controlling shareholder followed by issuance of new Class B shares to same entity, effectively consolidating control.open
Risks flagged
Increased control by CEO/controlling shareholder may reduce minority shareholder influence and corporate governance standards.
“Voting rights increased from 30 to 800 per Class B share; repurchase and issuance to same entity.”
29 Jun 20266-KJin Medical International Ltd. enters into VIE Control Acquisition and Share Issuance Agreement to acquire contractual control over Beijing Tongsheng Technology Co., Ltd. for ~$105M in stock, subject to shareholder approval.acquisitionopen
Risks flagged
Shareholder approval and Nasdaq notification required; VIE structure introduces regulatory and control risks.
“Closing subject to shareholder approval, Nasdaq notification, and absence of regulatory objection.”
4 Jun 20266-KJin Medical International Ltd. dismisses Audit Alliance LLP and engages Enrome LLP as new independent auditor; no disagreements or reportable events.open
Risks flagged
Auditor change may raise governance concerns, but no disagreements or reportable events disclosed.
“No disagreements or reportable events occurred during the engagement of AA up to the date of dismissal.”
7 Apr 20266-KJin Medical International Ltd. regained compliance with Nasdaq minimum bid price requirement after share consolidation; closing bid price above $1.00 for 13 consecutive business days.open
Risks flagged
No immediate delisting risk; compliance regained.
“Company regained compliance with Nasdaq minimum bid price requirement.”
17 Mar 20266-KJin Medical International Ltd. implements 1-for-20 reverse share split to maintain Nasdaq compliance. Share consolidation reduces Class A shares from 136.5M to 6.8M and Class B from 20M to 1M. Dual-class structure also adopted.open
Risks flagged
Reverse stock split to maintain Nasdaq listing suggests stock price was below $1.00, indicating potential liquidity or valuation concerns.
“to be effected if the closing market price of the Company's Class A ordinary shares is less than US$1.00” · word for word
10 Feb 202620-FJin Medical reported FY2025 revenue -12%, gross margin -11.2ppts, and net income -67.6%, driven by new product failure and margin compression.earningsopen
Figures in the filing · each found in the filing text
| Total revenue · FY2025 | $21M | -12% y/y |
| Gross profit · FY2025 | $6M | -36% y/y |
| Gross margin · FY2025 | 29.2% | |
| Net income attributable to Jin Medical International Ltd. · FY2025 | $1M | -68% y/y |
| Wheelchair revenue · Wheelchair · FY2025 | $16M | +9% y/y |
| Wheelchair gross margin · Wheelchair · FY2025 | 27.8% | |
| Other products revenue · Other products · FY2025 | $3M | -62% y/y |
| Other products gross margin · Other products · FY2025 | 26.1% |
Risks flagged
New product adoption failure
“customer feedback indicated that market awareness remained underdeveloped, leading to slower market adoption of these new products than initially projected.” · word for word
Margin compression from input costs
“utilization of certain high-unit-price components for our standard and economy wheelchair products, which did not increase the selling price but led to higher variable costs” · word for word
Customer concentration
“total sales to Nissin and its subsidiaries increased by approximately $1.2 million during the year ended September 30, 2025.” · word for word
9 Feb 20266-KJin Medical International Ltd. files transcript of CEO Fireside Chat discussing strategic priorities, reverse split authorization, Chuzhou factory timeline, and industry outlook. No material new financial results or definitive agreements.open
Risks flagged
Reverse split authorization viewed as compliance-driven; potential Nasdaq delisting risk if not executed.
“Reverse split authorized to potentially regain compliance with Nasdaq's continuing listing standards.”
Geopolitical risk from US-China relations; company pursuing supply chain diversification.
“US–China relations remain an important variable for global manufacturing companies.” · word for word
4 Feb 20266-KJin Medical International Ltd. reports results of 2026 Extraordinary General Meeting. Shareholders approved increase in authorized share capital, creation of dual-class share structure (Class A and Class B), and authorization for potentialopen
Risks flagged
Reverse split authorization indicates potential Nasdaq compliance risk; dual-class structure may concentrate voting power.
“conditional upon the Board's determination to effectuate a consolidation... when the closing market price per the Company's Class A Ordinary Shares is less than US$1.00”
22 Jan 20266-KJin Medical announces final construction phase of Chuzhou facility; full production expected by end of April 2026 with annual capacity of 200,000 units of electric wheelchairs and mobility scooters.open
Figures in the filing · each found in the filing text
| annual production capacity · Chuzhou facility · FY2026 | 200,000 |
Risks flagged
Construction and production ramp risks; facility is in final construction phase and full production is not yet achieved.
“Facility is in final construction phase; full capacity production expected by end of April 2026.”
8 Jan 20266-KJin Medical files notice of extraordinary general meeting to approve dual-class share structure and share consolidation; corporate governance event with no immediate financial impact.open
Risks flagged
Dual-class structure concentrates voting power with Jolly Harmony; potential governance concerns for minority shareholders.
“Class B shares with 30 votes per share to be issued to Jolly Harmony; Class A shares have 1 vote per share.”
Jin Medical International Ltd. — questions
- What did Jin Medical International Ltd. file recently?
- 20 SEC filings in the last 12 months. Latest: SC 13D/A on 2026-09-25 — CEO Erqi Wang's beneficial ownership diluted from 6.77% to 3.35% and voting power from 98.12% to 96.15% due to issuance of 79,762,048 Class A Ordinary Shares for an acquisition.
Every figure on this page comes from Jin Medical International Ltd.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.