Winner Medical Co., Ltd.

Winner Medical Co., Ltd. Corporate Summary Winner Medical Co., Ltd. is a vertically integrated Chinese manufacturer headquartered in Shenzhen, Guangdong, established in 1991 and listed on the Shenzhen Stock Exchange (SZSE: 300888). The company operates two core business segments: medical supplies (including PPE, surgical products, and advanced wound dressings) under the Winner Medical brand, and consumer goods under the Purcotton brand (featuring baby apparel, women's fashion, underwear, and sustainable cotton-based products). With approximately 15,642 employees and eight major production bases across Shenzhen and Hubei Province, Winner Medical has established strong vertical integration from cotton procurement to finished product manufacturing, supported by proprietary cotton spunlace nonwoven technology. Financial Performance & Global Reach: For the first three quarters of 2025, the company reported revenue of 78.97 billion RMB (approximately $11 billion USD), representing 30.1% year-over-year growth, with full-year 2025 estimates ranging between 108-112 billion RMB. The consumer segment (led by Purcotton) accounts for approximately 51% of revenue, while medical products contribute 49%. The company serves over 110 countries and territories globally, with direct operational bases in China, the United States, Vietnam, and the Dominican Republic. Purcotton has cultivated a loyal customer base exceeding 6,700 million members nationwide. Strategic Expansion (2024-2026): In 2024-2025, Winner Medical completed the acquisition of 75.2% equity in U.S.-based Global Resources International (GRI) for approximately $120 million, gaining access to U.S. government and large hospital procurement channels. In January 2026, the company announced a $60.5 million investment to construct