Universe Pharmaceuticals INC Files Annual Report on Form 20-F

TL;DR

<b>Universe Pharmaceuticals INC filed its annual report on Form 20-F, detailing its fiscal year 2023 performance and share structure.</b>

AI Summary

Universe Pharmaceuticals INC (UPC) filed a Foreign Annual Report (20-F) with the SEC on January 30, 2024. Universe Pharmaceuticals INC filed its annual report on Form 20-F for the fiscal year ended September 30, 2023. The company's ordinary shares trade on The Nasdaq Stock Market under the symbol UPC. As of September 30, 2023, Universe Pharmaceuticals INC had an aggregate of 3,645,974 ordinary shares outstanding. The par value of each ordinary share is $0.01875. The principal executive offices are located at 265 Jingjiu Avenue, Jinggangshan Economic and Technological Development Zone, Ji'an, Jiangxi, China.

Why It Matters

For investors and stakeholders tracking Universe Pharmaceuticals INC, this filing contains several important signals. This filing provides investors with a comprehensive overview of the company's financial health and operational status for the past fiscal year. The report confirms the listing of its ordinary shares on The Nasdaq Stock Market, a key indicator for public market investors.

Risk Assessment

Risk Level: low — Universe Pharmaceuticals INC shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate red flags or significant new disclosures that would elevate the risk profile.

Analyst Insight

Review the full 20-F filing for detailed financial statements, risk factors, and management discussion to assess the company's performance and outlook.

Key Numbers

• 3,645,974 — Ordinary Shares Outstanding (As of September 30, 2023)
• 0.01875 — Par Value per Ordinary Share (As of September 30, 2023)
• 2023-09-30 — Fiscal Year End (Period covered by the report)
• 2024-01-30 — Filing Date (Date the report was filed)

Key Players & Entities

• Universe Pharmaceuticals INC (company) — Registrant
• The Nasdaq Stock Market (company) — Exchange where shares are registered
• Gang Lai (person) — Chief Executive Officer

Forward-Looking Statements

• Universe Pharmaceuticals will continue to operate as a foreign private issuer. (Universe Pharmaceuticals INC) — high confidence, target: 2025-09-30
• The company will file its next annual report (20-F) around January 2025. (Universe Pharmaceuticals INC) — high confidence, target: 2025-01-30

FAQ

Industry Context

Universe Pharmaceuticals INC operates within the pharmaceutical preparations industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically as an annual report (Form 20-F) for foreign private issuers.

What Investors Should Do

1. Analyze the financial statements within the 20-F for revenue, net income, and other key financial metrics.
2. Review the 'Risk Factors' section for any new or updated risks disclosed by the company.
3. Examine the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into business performance and strategy.

Key Dates

• 2023-09-30: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-01-30: Filing Date — Date the Form 20-F was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing of the 20-F for the fiscal year ended September 30, 2023, so there is no prior filing to compare against within this specific report.

Key Financial Figures

• $0.01875 — of 3,645,974 ordinary shares, par value $0.01875 per share, as of September 30, 2023. I
• $ — ed subsidiary of Jiangxi Universe; "US$," "U.S. dollars," "$" and "dollars" are
• $1.00 — e end of the year - RMB RMB 7.2960 to $1.00 RMB 7.1135 to $1.00 RMB 6.4580 to $
• $127,827 — company received cash in the amount of $127,827 and $303,746 from its subsidiary in Hon
• $303,746 — ived cash in the amount of $127,827 and $303,746 from its subsidiary in Hong Kong for th
• $6,807,507 — and its subsidiaries, in the amount of $6,807,507, to be used for general corporate purpo

Filing Documents

• f20f2023_universe.htm (20-F) — 1926KB
• f20f2023ex1-1_universe.htm (EX-1.1) — 468KB
• f20f2023ex2-1_universe.htm (EX-2.1) — 3KB
• f20f2023ex2-3_universe.htm (EX-2.3) — 90KB
• f20f2023ex4-6_universe.htm (EX-4.6) — 117KB
• f20f2023ex4-7_universe.htm (EX-4.7) — 117KB
• f20f2023ex4-8_universe.htm (EX-4.8) — 195KB
• f20f2023ex4-10_universe.htm (EX-4.10) — 118KB
• f20f2023ex4-11_universe.htm (EX-4.11) — 151KB
• f20f2023ex11-2_universe.htm (EX-11.2) — 172KB
• f20f2023ex12-1_universe.htm (EX-12.1) — 9KB
• f20f2023ex12-2_universe.htm (EX-12.2) — 9KB
• f20f2023ex13-1_universe.htm (EX-13.1) — 4KB
• f20f2023ex13-2_universe.htm (EX-13.2) — 4KB
• f20f2023ex15-1_universe.htm (EX-15.1) — 8KB
• f20f2023ex15-2_universe.htm (EX-15.2) — 3KB
• f20f2023ex97-1_universe.htm (EX-97.1) — 41KB
• image_001.jpg (GRAPHIC) — 30KB
• image_002.jpg (GRAPHIC) — 20KB
• image_003.jpg (GRAPHIC) — 7KB
• ex1-1_001.jpg (GRAPHIC) — 2KB
• ex4-6_001.jpg (GRAPHIC) — 1KB
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• ex4-8_001.jpg (GRAPHIC) — 6KB
• ex4-8_002.jpg (GRAPHIC) — 50KB
• ex4-8_003.jpg (GRAPHIC) — 51KB
• ex4-10_001.jpg (GRAPHIC) — 5KB
• ex4-10_002.jpg (GRAPHIC) — 7KB
• ex4-10_003.jpg (GRAPHIC) — 4KB
• ex4-11_001.jpg (GRAPHIC) — 2KB
• ex4-11_002.jpg (GRAPHIC) — 6KB
• ex4-11_003.jpg (GRAPHIC) — 2KB
• ex4-11_004.jpg (GRAPHIC) — 7KB
• ex15-1_001.jpg (GRAPHIC) — 7KB
• ex15-2_001.jpg (GRAPHIC) — 8KB
• 0001213900-24-007745.txt (&nbsp;) — 9889KB
• upc-20230930.xsd (EX-101.SCH) — 90KB
• upc-20230930_cal.xml (EX-101.CAL) — 52KB
• upc-20230930_def.xml (EX-101.DEF) — 353KB
• upc-20230930_lab.xml (EX-101.LAB) — 605KB
• upc-20230930_pre.xml (EX-101.PRE) — 366KB
• f20f2023_universe_htm.xml (XML) — 735KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 105 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 106 PART II 107 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 107 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 107 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 107 ITEM 16. [RESERVED] 108 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 108 ITEM 16B. CODE OF ETHICS 109 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 109 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 109 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 109 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 110 ITEM 16G. CORPORATE GOVERNANCE 110 ITEM 16H. MINE SAFETY DISCLOSURE 110 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS. 110 ITEM 16J. INSIDER TRADING POLICIES. 110 ITEM 16K. CYBERSECURITY. 110 PART III 111 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 111 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 111 ITEM 19. EXHIBITS 111 i INTRODUCTION In this annual report on Form 20-F, unless the context otherwise requires, references to: "China" or the "PRC" are to the People's Republic of China, including the special administrative regions of Hong Kong and Macau and excluding Taiwan for the purposes of this annual report only; "Exchange Act" are to the Securities Exchange Act of 1934, as amended; "fiscal year" are to the period from October 1 to September 30 of the next calendar year; "Jiangxi Universe" are to Jiangxi Universe Pharmaceuticals Co., Ltd., a limited liability company organized under the laws of the PRC, which is wholly owned by Universe Technology (as defined below) and an indirect wholly owned subsidiary of the Company; "PRC operating entities" are to Jiangxi Universe and its subsidiaries; "RMB" and Renminbi" are to the legal currency of China; "shares" or "ordinary shares" are to the ordinary shares of the Company, par value $0.01875 per share; "SEC" are to the U.S. Securities Exchange Commission; "Securities Act" are to the Securities Act of 1933, as amended; "TCM" are to traditional Chinese medicine; "TCMD" are to traditional Chinese medicine derivatives; "Universe Hanhe" are to Guangzhou Universe Hanhe Medical Research Co., Ltd., a PRC formed on May 12, 2021, a wholly-owned subsidiary of Jiangxi Universe; "Universe HK" are to the Company's wholly owned subsidiary, Universe Pharmaceuticals Group (International) Limited, a company incorporated in Hong Kong; "Universe Technology" are to Jiangxi Universe Pharmaceuticals Technology Co., Ltd., a limited liability company organized under the laws of the PRC, and is wholly owned by Universe HK; "Universe Trade" are to Jiangxi Universe Pharmaceuticals Trade Co., Ltd., a PRC company formed in 2010, a wholly-owned subsidiary of Jiangxi Universe; "US$," "U.S. dollars," "$" and "dollars" are to the legal currency of the United States; and "we," "us,"

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION This annual report refers to (i) Universe Pharmaceuticals INC, the Cayman Islands holding company, as "we", "our", "us", or the "Company", (ii) the Company's subsidiaries, as "our subsidiaries," (iii) Jiangxi Universe Pharmaceuticals Co., Ltd., the Company's indirect wholly owned subsidiary in China ("Jiangxi Universe") and its subsidiaries, which are domiciled in China and conducting business operations in China, as the "PRC operating entities." The Company does not conduct any operations. We are a Cayman Islands holding company with no operations of our own and not a PRC operating company. Our operations are conducted in China by our PRC subsidiaries. Investors in our securities are not purchasing equity interests in our subsidiaries but instead are purchasing equity interests in the ultimate Cayman Islands holding company. Therefore, you will not directly hold any equity interests in our operating companies. The Chinese regulatory authorities could disallow this structure, which would likely result in a material change in our operations and/or a material change in the value of the securities we are registering for sale, including that it could cause the value of such securities to significantly decline or become worthless. For risks facing our Company as a result of our organizational structure and doing business in China, see "Item 3. Key Information—D. Risk Factors—Risks Related to Doing Business in China." We directly hold 100% equity interests in our subsidiaries, and we do not currently use a variable interest entity ("VIE") structure. We face legal and operational risks associated with having the majority of our operations in China, which could significantly limit or completely hinder our ability to offer securities to investors and cause the value of our securities to significantly decline or be worthless. The Chinese government has significant authority to exert influence on the ability of a China-based company, such as us, to

View Full Filing

View this 20-F filing on SEC EDGAR