Headquartered at Changzhou City of Jiangsu Province, Jin Medical International Ltd. was incorporated on January 2020 under the laws of the Cayman Islands. We primarily conduct our business through our subsidiaries Changzhou Zhongjin which was established in 2006 and its wholly owned subsidiaries. Since inception of 2006, we are a designer and manufacturer of wheelchairs and living aids products for people with disabilities, the elderly, and people recovering from injury. Our business focuses primarily on wheelchairs. The majority of our products are sold to dealers in Japan and China, while a small number of our products are also sold to dealers located in other regions including the United States, Canada, Australia, Korea, Israel, Singapore, and others.
Almost all of our wheelchairs currently for sale are manual wheelchairs. Our manual wheelchair product category has a wide range of products at various price points, consisting of more than thirty models. Our mid to high-end wheelchairs and components are mostly geared towards customers in Japan, and our relatively lower-end wheelchairs and components are targeted for customers in China. We believe 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 our products in Japan and China will increase over the next several decades from incremental demand of our products due to the growing aging population. We believe the expansion of the aging populations in Japan and China will continue in the near future, providing a real opportunity for us to grow our business.
We seek to deliver quality products with customized attributes tailored to our end users’ specifications at competitive prices. Our wheelchairs are designed to be lightweight and ergonomic. We operate two manufacturing facilities in China, where we carry out design, engineering, manufacturing, and assembly of our products. While we strive to achieve efficiency by standardizing and optimizing certain procedures across our production cycle, we understand the importance of maintaining the quality of our products and strictly enforce our quality control protocols at every step of our production process.
To date, all of our products are distributed through qualified dealers in the markets where we operate. We have a stable and well-established distribution network, which has helped us grow our sales and expand our market for more than a decade. We are constantly looking to add qualified and reputable distributors to our network and have built long-term relationships with a number of them. For example, we have been a supplier to Nissin Medical Industries Co., Ltd (“Nissin”), our largest dealer and sole distributor in Japan, since 2006. Nissin is one of the largest medical device distributors in Japan, and all our products sold to Nissin were original equipment manufacturer (“OEM”) products that were manufactured according to specifications requested by Nissin and sold to the end-users in Japan under Nissin’s brands.
Our research and development capabilities have always been a cornerstone of our success. Our R&D department currently has 58 employees, many of whom own advanced degrees in engineering and related fields. Our CEO, Dr. Erqi Wang, is the core leader of our R&D department. Dr. Wang pioneered a tailor-made concept for “rehabilitation wheelchair” design in China that allows users to adjust wheelchair functions according to their individual conditions. Our wheelchairs designed under this concept have won a number of design awards in China, including the Changzhou Science and Technology Progress Award in 2012, the Wujin District Science and Technology Progress Award in 2012, the Silver Award of the First Industrial Design Competition of Jiangsu Province in 2013, and the CF Silver Award of the “Canton Fair” in 2014. We own 109 patents and are in the process of registering 17 additional patents with the Patent Administration Department of the PRC. We are committed to further invest in our R&D efforts to deliver innovative products to meet the needs of our customers.
Beginning in 2018, to expand our business and diversify our product offering, we started to explore the markets for electric wheelchairs and other living aids products, such as oxygen concentrators and bathing machines. To date, our R&D department has developed a number of new products, including: a portable oxygen concentrator, which is one of the smallest on the market designed for people needing oxygen supply while maintaining their independence and mobility; a lightweight electric wheelchair that weighs only 17 kg and adopts an anti-tilting system equipped with safety belts; and an electric lifting bathing machine that adopts unique user-friendly designs such as foot-locked rear casters that ensure the stable and comfortable lifting operation and bathing experience. We are led by a management team with extensive experience in R&D, manufacturing and commercialization of wheelchairs and living aids product. We believe our management team is well positioned to lead us through the development, regulatory approval and commercialization of our future products, while maintaining and improving the market position of our existing products.