Hangzhou, China, Oct. 10, 2025 (GLOBE NEWSWIRE) -- WORK Medical Technology Group LTD (Nasdaq: WOK) (“WORK Medical” or the “Company”), a supplier of medical devices in China, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China, today announced that it has received a notification letter from the Nasdaq Stock Market LLC (“Nasdaq”) granting the Company an additional 180-calendar-day period to regain compliance with the minimum bid price requirement pursuan ...

Hangzhou, China, Oct. 10, 2025 (GLOBE NEWSWIRE) -- WORK Medical Technology Group LTD (Nasdaq: WOK) (“WORK Medical” or the “Company”), a supplier of medical devices in China, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China, today announced that it has received a notification letter from the Nasdaq Stock Market LLC (“Nasdaq”) granting the Company an additional 180-calendar-day period to regain compliance with the minimum bid price requirement pursuan ...

Core Viewpoint - Univest Securities, LLC has successfully closed a $2.9 million registered direct offering for WORK Medical Technology Group LTD, a medical device supplier in China [1][3]. Group 1: Offering Details - The offering involved the sale of 38,999,334 Class A ordinary shares at a purchase price of $0.075 per share [2]. - The gross proceeds from the offering were approximately $2.9 million [3]. - The offering was conducted under a shelf registration statement on Form F-3, which was declared effective by the SEC on September 15, 2025 [4]. Group 2: Company Overview - WORK Medical Technology Group LTD develops and manufactures Class I and II medical devices, with a diverse product portfolio of 21 products, including customized masks and medical consumables [7]. - The company has sold products in 34 provincial-level regions in China and has a presence in over 30 countries worldwide [7]. - WORK Medical Technology has received quality-related manufacturing designations and has registered 17 products with the U.S. FDA, allowing entry into the U.S. market [7]. Group 3: Univest Securities Overview - Univest Securities, LLC has been registered with FINRA since 1994 and provides a variety of financial services, including investment banking and advisory [6]. - The firm has raised over $1.3 billion in capital for issuers globally since 2019 and completed approximately 100 transactions across various industries [6].

Core Viewpoint - WORK Medical Technology Group LTD has announced a registered direct offering of 38,999,334 Class A ordinary shares at a price of $0.075 per share, aiming to raise approximately $2.9 million in gross proceeds [1][2]. Group 1: Offering Details - The offering involves the sale of Class A ordinary shares or pre-funded warrants at a purchase price of $0.075 per share, with the pre-funded warrants having an exercise price of $0.0005 per share [1]. - The transaction is expected to close on or about September 26, 2025, pending customary closing conditions [2]. - The offering is made under a shelf registration statement on Form F-3, which was declared effective by the SEC on September 15, 2025 [3]. Group 2: Company Overview - WORK Medical Technology Group LTD, through its subsidiary, develops and manufactures Class I and II medical devices, with a diverse product portfolio of 21 products, including customized masks and medical consumables [5]. - The company has sold products in 34 provincial-level regions in China and has 15 products available in over 30 countries globally [5]. - WORK Medical has received various quality-related manufacturing designations and has registered 17 products with the U.S. FDA, allowing entry into the U.S. market [5].

Core Viewpoint - The medical device manufacturer, Wokai Medical Technology Group, is leveraging RWA technology to transform its existing product architecture and emerging AI business [1][2]. Group 1: Strategic Collaborations - Wokai Medical has established a partnership with the Hong Kong Web3.0 Standardization Association, becoming a vice-chair unit of the organization [4]. - The company has also partnered with Ruijin Hospital's Wuxi branch to accelerate the development of an AI-driven clinical ecosystem [4][6]. - The collaboration with Hong Kong partners focuses on three core areas: tokenization of quality assets held or invested by Wokai Medical, equity investments in financial vehicles, and RWA technology development [5]. Group 2: Financial Performance and Market Position - Wokai Medical's mask business revenue has declined by 69% year-on-year, from $5.1 million to $1.6 million, due to reduced demand post-COVID-19 [7]. - Other medical device revenues increased by 18%, rising from $8 million to $9.4 million, partially offsetting losses from the mask business [7]. - The company generated $400,000 from commodity trading and raised $15.7 million in financing activities, significantly exceeding the annual sales of core medical products at $11.5 million [7]. Group 3: Future Growth and Innovation - The partnership with the Hong Kong Web3.0 Standardization Association aims to explore RWA technology innovations and develop AI medical industry strategies [6]. - Wokai Medical's strategic initiatives are seen as a way to open new growth avenues and build long-term corporate value [6].

Company Performance - WORK Medical Technology Group Ltd. experienced a significant price drop of approximately 88% to $0.10, yet remains focused on developing AI-driven medical products through a strategic partnership with the Wuxi Branch of Ruijin Hospital [1][7] - BT Brands, Inc. (BTBDW) saw a 34% decrease in stock price to $0.16, affected by consumer cyclical trends in the quick-service restaurant sector [2][7] - Fitness Champs Holdings Limited (FCHL) faced a 33% decline to $0.71, following its initial public offering where it offered 3.75 million shares at $4.00 each, continuing to contribute to sports education and merchandise sales [3][7] - SAIHEAT Limited (SAIHW) experienced a 32% decline to $0.18, focusing on liquid-cooling data centers and high-performance servers, emphasizing sustainable solutions in the technology sector [4][7] - Zhengye Biotechnology Holding Limited (ZYBT) saw a 28% decrease to $5.01, with a focus on veterinary vaccines and a transformational fiscal year 2024 aimed at diversifying its customer base for long-term growth [5] Industry Dynamics - The market movements reflect the impact of industry dynamics and consumer behavior on company performance, highlighting the need for adaptation to market trends and strategic partnerships for growth [6]

Core Insights - WORK Medical Technology Group Ltd. is exploring real-world asset (RWA) tokenization and blockchain technology through a partnership with the Hong Kong Web3.0 Standardization Association, aiming to leverage its existing product infrastructure and AI business [3][4][11] - The company has outlined three main areas for collaboration: tokenization of high-quality assets, equity investments, and development of RWA technology [6][7][9] Company Strategy - The partnership aligns with WORK Medical's "Healthcare + Payment + Technology = RWA + Web3 + AI" strategy, which aims to integrate various sectors for growth [4] - The company plans to collaborate with qualified firms in the financial sector to ensure compliance in its asset tokenization efforts [4] Market Potential - Tokenized RWAs are projected to exceed $50 billion by the end of the year, with U.S. treasuries expected to dominate this market, contributing over $28 billion [5] Collaboration Areas - The first area of collaboration focuses on tokenizing high-quality assets owned or invested in by WORK Medical, potentially including receivables, investment products, and intellectual property [6] - The second area involves equity investments, which may include co-investments or participation in funds to accelerate RWA tokenization [7] - The third area is the development of RWA technology, utilizing the Hong Kong Web3.0 Association's RWA registration platform for regulatory compliance and asset security [9] Recent Developments - WORK Medical has also formed a partnership with Ruijin Hospital's Wuxi Branch to advance AI-driven healthcare solutions, integrating multimodal medical data [12][13] - The company's revenue from its mask business fell 69% to $1.6 million, while revenue from other medical devices increased by 18% to $9.4 million [16] - The company generated $400,000 from commodities trading and $15.7 million from financing activities in its latest fiscal year [17]

Core Viewpoint - WORK Medical Technology Group LTD has entered into a strategic cooperation agreement with the Hong Kong Web3.0 Standardization Association to promote innovation in the Real-world Asset (RWA) sector through resource sharing and complementary strengths [1][4]. Group 1: Strategic Cooperation Agreement - The agreement focuses on collaboration in blockchain solutions, including asset tokenization, equity investment, and RWA technology development [4][5]. - WORK Medical will leverage its capital resources and expertise in medical device manufacturing alongside the Association's resources to advance asset tokenization [4]. - The partnership aims to integrate industrial and financial resources for co-investments to accelerate RWA market expansion [4]. Group 2: Association's Role and Objectives - The Hong Kong Web3.0 Standardization Association is dedicated to supporting the growth of Hong Kong's Web3.0 ecosystem through standardization and research [6]. - The Association's initiatives include promoting technological advancement, establishing standards, and enhancing public awareness of Web3.0 [6]. - The Association launched an RWA registration platform in August 2025 to further its mission [6]. Group 3: Company Profile - WORK Medical develops and manufactures Class I and II medical devices, with a diverse product portfolio of 21 products sold in 34 regions in China and over 30 countries worldwide [8]. - The company has received quality-related manufacturing designations and has registered 17 products with the U.S. FDA for market entry in the U.S. [8].

Core Viewpoint - WORK Medical Technology Group LTD has signed a strategic cooperation agreement with Xin Rui Hospital to develop AI-driven medical products, aiming to enhance the digital healthcare ecosystem in China [1][2][4]. Group 1: Agreement Details - The agreement involves Work Hangzhou supporting Xin Rui Hospital in advancing hospital informatization and the application of AI-powered medical products [2]. - The collaboration aims to integrate AI technology with various medical resources at Xin Rui Hospital, including text, imaging, and laboratory data, to create a digital knowledge base for intelligent healthcare [2]. - The partnership is expected to enhance the development and clinical application of AI models across multiple healthcare scenarios, focusing on data governance, model training, and translating research into clinical practice [2]. Group 2: Company Background - WORK Medical Technology Group LTD, through its subsidiary Work (Hangzhou) Medical Treatment Equipment Co., Ltd., develops and manufactures Class I and II medical devices, with a diverse product portfolio of 21 items [5]. - The company has products sold in 34 provincial-level regions in China and has registered 17 products with the U.S. Food and Drug Administration, allowing entry into the U.S. market [5]. Group 3: Leadership Perspective - The CEO of WORK Medical expressed enthusiasm about the partnership, highlighting the goal of establishing a model for hospital digitalization and intelligent healthcare applications [4]. - The collaboration is anticipated to accelerate AI transformation in domestic hospitals and broaden the adoption of technology solutions [4].

Core Viewpoint - Wok Medical (WOK) experienced a stock price increase of 4.8% on August 20, 2023, closing at $0.83 per share, with a total market capitalization of $46.92 million [1] Financial Performance - As of September 30, 2024, Wok Medical reported total revenue of $11.5064 million, representing a year-over-year decrease of 15.18% [1] - The company's net profit attributable to shareholders was -$3.4923 million, reflecting a significant year-over-year decline of 3217.31% [1] Company Overview - Wok Medical Technology Group Co., Ltd. is a foreign holding company registered in the Cayman Islands, primarily operating through its domestic subsidiary, Hangzhou Shanyou Medical Equipment Co., Ltd. [1] - The subsidiary, established in April 2002, specializes in the production of medical consumables, including anesthesia, respiratory, emergency, ICU, interventional products, and masks, utilizing advanced plastic injection, extrusion molding, and packaging sealing equipment [1]