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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
July 24, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WINNER MEDICAL GROUP INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; font-weight: bold; text-align: center">Nevada</TD>
    <TD ROWSPAN="2" STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">001-34484</TD>
    <TD ROWSPAN="2" STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 29%; font-weight: bold; text-align: center">33-0215298</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of Incorporation or organization)</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Winner Industrial Park, Bulong Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Longhua, Shenzhen City, 518109</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices,
including zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(86) 755 2813-8888</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&#9;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&#9;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&#9;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&#9;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01.&#9;Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">On July 24, 2012,
Winner Medical Group Inc. (the &ldquo;<U>Company</U>&rdquo;) entered into an Agreement and Plan of Merger (the &ldquo;<U>Merger
Agreement</U>&rdquo;) with Winner Holding Limited, a Cayman Islands exempted company with limited liability (&ldquo;<U>Parent</U>&rdquo;),
which is indirectly wholly-owned by Mr. Jianquan Li, the chairman of the Company&rsquo;s board of directors (the &ldquo;<U>Board
of Directors</U>&rdquo;) and chief executive officer, and Winner Acquisition, Inc., a Nevada corporation and a wholly-owned subsidiary
of Parent (&ldquo;<U>Merger Sub</U>&rdquo;, together with the Company and Parent, the &ldquo;<U>Parties</U>&rdquo; and any one
of them a &ldquo;<U>Party</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt; text-align: justify"><I>The Merger Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27.35pt"><FONT STYLE="color: windowtext">Pursuant
to the Merger Agreement, upon the terms and subject to the conditions thereof, at the effective time of the merger, Merger
Sub will be merged with and into the Company, the Company will become a wholly-owned subsidiary of Parent and each of the
Company&rsquo;s shares of common stock issued and outstanding immediately prior to the effective time of the merger (the
&ldquo;<U>Shares</U>&rdquo;) will be converted into the right to receive $4.50 in cash without interest, except for (i)
Shares owned by Parent and Merger Sub, including shares to be contributed to Parent by Mr. Jianquan Li and Ms. Ping Tse
immediately prior to the effective time of the merger pursuant to a contribution agreement, dated as of July 24, 2012, among
Parent, Glory Ray Holdings Limited, Mr. Jianquan Li and Ms. </FONT>Ping Tse, and (ii) Shares held by the Company as treasury
stock, which will be cancelled and retired and cease to exist as of the effective time of the merger<FONT STYLE="color: windowtext">.
Currently, Mr. Jianquan Li and Ms. </FONT>Ping Tse collectively <FONT STYLE="color: windowtext">beneficially own
approximately 73.95% of the Company&rsquo;s outstanding shares of common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27.35pt">Each restricted
stock unit of the Company pursuant to its incentive plan for the fiscal year 2010-2011 that is outstanding as of the
effective time of the merger will be treated as a share of Company&rsquo;s common stock for all purposes of the Merger
Agreement. Each (a) restricted stock unit of the Company pursuant to its incentive plan for the fiscal years 2011-2013 that
is outstanding as of the effective time and (b) restricted stock unit and option pursuant to the incentive plan for fiscal
year 2012-2013 that is outstanding but unvested as of the effective time, shall be cancelled and converted into the right
to receive one restricted stock unit or option of Glory Ray Holdings Limited (as applicable). In addition, each option
pursuant to the incentive plan for fiscal year 2012-2013 that is outstanding and vested as of the effective time shall be
cancelled and converted into the right to receive cash in an amount equal to (i) the total number of shares of Company common
stock subject to such option multiplied by (ii) the excess, if any, of (x) the merger consideration described above over (y)
the exercise price payable per share issuable under such option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Merger Agreement
contains representations and warranties of the Parties that are, in general, customary for a transaction of this type. The assertions
embodied in those representations and warranties were made solely for purposes of the contract among the Parties and may be subject
to important qualifications and limitations agreed to by the Parties in connection with the negotiated terms. Moreover, some of
those representations and warranties may not be accurate or complete as of any specified date, may be subject to a contractual
standard of materiality different from those generally applicable to stockholders or may have been used for purposes of allocating
risk among the Parties rather than establishing matters as facts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Parties have also
agreed to certain covenants, including covenants requiring the Company to conduct its business in the ordinary course of business
consistent with past practice in all material respects and use reasonable best efforts to maintain and preserve substantially intact
its business organization and present business relationship with key customers and suppliers and keep available the services of
current key officers and employees through the effective time of the merger, except as expressly provided in the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">From the date of the
Merger Agreement until 40 days thereafter, the Company has the right to initiate, solicit and encourage alternative transaction
proposals from any third party. After such 40-day period, the Company has agreed to certain restrictions on its ability to solicit
or initiate proposals or offers, and to engage in or otherwise participate in discussions or negotiations, with third parties concerning
any alternative transaction proposal until the earlier to occur of the termination of the Merger Agreement pursuant to its terms
and the time at which the merger is consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><FONT STYLE="color: windowtext">Consummation
of the merger is subject to the satisfaction or waiver of customary closing conditions, including, but not limited to: (i)
adoption of the Merger Agreement by the affirmative vote of the holders of both (x) a majority of the outstanding shares of
the Company&rsquo;s common stock and (y) a majority of the outstanding shares of the Company&rsquo;s common stock not owned
by Parent, Merger Sub, Mr. Jianquan Li or Ms. Ping Tse; (ii) the absence of any order, </FONT>injunction or decree preventing
or making illegal the consummation of the merger; (iii) the truth and correctness of each Party&rsquo;s representations and
warranties at closing; and (iv) the absence of any material adverse effect on the Company<FONT STYLE="color: windowtext">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Merger Agreement
may be terminated at any time prior to the effective time of the merger by the Company and/or Parent (whether before or after the
receipt of stockholder approval) under the circumstances and in the manner prescribed in the Merger Agreement. Upon termination
(a) the Merger Agreement shall forthwith become void and have no effect and none of the Company, Parent, any of their respective
subsidiaries or any of their respective representatives shall have any liability of any nature whatsoever under the Merger Agreement,
or in connection with the transactions contemplated thereby (save as excepted), and (b) no Party shall be relieved or released
from any liabilities or damages arising out of its fraud or willful and material breach of any provision of the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Further, in specified
circumstances, if the Merger Agreement has been terminated, the Company shall pay Parent a termination fee in the amount of US$1,500,000
or US$750,000, as applicable, or receive from Parent a termination fee in an amount equal to US$1,800,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Parent has a secured
debt facility from DBS Bank Ltd., Hong Kong Branch, with which it is financing the transactions contemplated by the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt; text-align: justify"><I>Voting Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Concurrently
with the execution of the Merger Agreement, Parent, Mr. Jianquan Li and Ms. Ping Tse entered into a Voting Agreement (the
&ldquo;<U>Voting Agreement</U>&rdquo;) with the Company under which they have agreed, among other things, to vote all of the
shares of Company common stock beneficially owned by such persons and entities in favor of the adoption of the Merger
Agreement and against any other acquisition proposal with respect to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 13.5pt"><I>Limited Guaranty</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 13.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Concurrently with
the execution of the Merger Agreement, Mr. Jianquan Li entered into a limited guaranty (the &ldquo;<U>Limited Guaranty</U>&rdquo;)
in favor of the Company, guaranteeing certain payment obligations of Parent pursuant to the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><FONT STYLE="color: windowtext">The
foregoing descriptions of the Merger Agreement, the Voting Agreement and the Limited Guaranty do not purport to be complete and
are qualified in their entirety by reference to the Merger Agreement, the Voting Agreement and the Limited Guaranty, copies of which
are filed as Exhibit 2.1, Exhibit 9.1 and Exhibit 9.2 </FONT>hereto, respectively, and are incorporated herein in their entirety
by reference<FONT STYLE="color: windowtext">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt; text-align: justify"><I>Board Recommendation; Proxy
Materials</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Board of Directors,
acting upon the unanimous recommendation of a special committee of the Board of Directors comprised solely of independent and
disinterested directors (the &ldquo;<U>Special Committee</U>&rdquo;), approved and adopted the Merger Agreement and has recommended
that the Company&rsquo;s stockholders vote to approve the Merger Agreement. The Special Committee negotiated the terms of the
Merger Agreement with the assistance of William Blair &amp; Company, L.L.C., which has provided an opinion to the effect that
the consideration and other terms contained in the Merger Agreement are fair, from a financial perspective, to the Company&rsquo;s
stockholders (excluding Parent, Merger Sub and their Affiliates (as defined in the Merger Agreement), the Rollover Holders (as
defined in the Merger Agreement) and the directors of the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; text-align: justify">In connection with
the proposed merger, the Company will prepare and mail a proxy statement to its stockholders. In addition, certain participants
in the proposed transaction will prepare and mail to the Company&rsquo;s stockholders a Schedule 13E-3 transaction statement.
These documents will be filed with or furnished to the Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;). INVESTORS
AND STOCKHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED
TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PARENT, THE COMPANY, THE MERGER, THE PERSONS
SOLICITING PROXIES IN CONNECTION WITH THE MERGER ON BEHALF OF THE COMPANY AND THE INTERESTS OF THOSE PERSONS IN THE MERGER AND
RELATED MATTERS. In addition to receiving the proxy statement and Schedule 13E-3 transaction statement by mail, stockholders also
will be able to obtain these documents, as well as other filings containing information about the Company, the proposed merger
and related matters, without charge, from the SEC&rsquo;s website (http://www.sec.gov) or at the SEC&rsquo;s public reference
room at 100 F Street, NE, Room 1580, Washington, D.C. 20549. In addition, these documents can be obtained, without charge, by
contacting the Company at Winner Medical Group Inc., Winner Industrial Park, Bulong Road, Longhua, Shenzhen, People&rsquo;s Republic
of China, 518109, telephone: (86) 755-2813 8888.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt"><I>Participants in the Solicitation </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; text-align: justify">The Company and certain of its directors,
executive officers and other members of management and employees may, under SEC rules, be deemed to be &ldquo;participants&rdquo;
in the solicitation of proxies from the Company&rsquo;s stockholders with respect to the proposed merger. Information regarding
the persons who may be considered &ldquo;participants&rdquo; in the solicitation of proxies will be set forth in the proxy statement
and Schedule 13E-3 transaction statement relating to the proposed merger when it is filed with the SEC. Additional information
regarding the interests of such potential participants will be included in the proxy statement and Schedule 13E-3 transaction statement
and the other relevant documents filed with the SEC when they become available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Forward-Looking Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Current Report
on Form 8-K contains certain statements that may include &ldquo;forward-looking statements&rdquo; within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, included herein are &ldquo;forward-looking statements&rdquo; including statements regarding
the Company and its subsidiary companies&rsquo; business strategy, plans and objectives and statements of non-historical information.
These forward-looking statements are often identified by the use of forward-looking terminology such as &ldquo;believes,&rdquo;
&ldquo;expects&rdquo; or similar expressions. Although the Company believes that the expectations reflected in these forward-looking
statements are reasonable, they do involve assumptions and involve known and unknown risks and uncertainties, and these expectations
may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the
date of this report. Winner Medical's actual results could differ materially from those anticipated in these forward-looking statements
as a result of a variety of factors, including those discussed in Winner Medical's periodic reports that are filed with and available
from the SEC. All forward-looking statements attributable to Winner Medical or persons acting on its behalf are expressly qualified
in their entirety by these factors. Other than as required under the securities laws, Winner Medical does not assume a duty to
update these forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 8.01.&#9;Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27.35pt">On July 24, 2012,
the Company issued a press release announcing its entry into the Merger Agreement. A copy of the press release is attached hereto
as Exhibit 99.1 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01&#9;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify">Exhibit No.</TD>
    <TD STYLE="width: 88%; padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify">2.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify">Agreement and Plan of Merger, dated as of July 24, 2012, by and among Winner Medical Group Inc., Winner Holding Limited and Winner Acuqisition, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify">9.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify">Voting Agreement, dated as of July 24, 2012, by and among Winner Holding Limited, Winner Medical Group Inc., Mr. Jianquan Li and Ms. Ping Tse</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify">9.2</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: justify">Limited Guaranty, dated as of July 24, 2012, by and between Mr. Jianquan Li and Winner Medical Group Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 30pt; padding-left: 5.4pt; text-align: justify">99.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 30pt; padding-left: 5.4pt; text-align: justify">Press Release of Winner Medical Group Inc., dated July 24, 2012</TD></TR>
</TABLE>






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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">Winner Medical Group Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; July 25, 2012</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">By:</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ <I>Xiuyuan Fang</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Xiuyuan Fang</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD></TR>
</TABLE>


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[{"type": "8-K", "sequence": "1", "filename": "v319227_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 33689}]
{"company-data": {"conformed-name": "WINNER MEDICAL GROUP INC", "cik": "0000808011", "assigned-sic": "3842", "irs-number": "330215298", "state-of-incorporation": "NV", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34484", "film-number": "12977738"}, "business-address": {"street1": "WINNER INDUSTRIAL PARK", "street2": "BULONG ROAD", "city": "LONGHUA, SHENZHEN CITY", "state": "F4", "zip": "518109", "phone": "(86-755) 28138888"}, "mail-address": {"street1": "WINNER INDUSTRIAL PARK", "street2": "BULONG ROAD", "city": "LONGHUA, SHENZHEN CITY", "state": "F4", "zip": "518109"}, "former-company": [{"former-conformed-name": "HDH INDUSTRIES INC", "date-changed": "19871120"}, {"former-conformed-name": "LAS VEGAS RESORTS CORP", "date-changed": "19861216"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 24, 2012
WINNER MEDICAL GROUP INC.
(Exact Name of Registrant as Specified in
its Charter)
Nevada
001-34484
33-0215298
(State or other jurisdiction of Incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
Winner Industrial Park, Bulong Road
Longhua, Shenzhen City, 518109
The People's Republic of China
(Address of principal executive offices,
including zip code)
(86) 755 2813-8888
(Registrant's telephone number, including
area code)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.	Entry into a Material Definitive Agreement.
On July 24, 2012,
Winner Medical Group Inc. (the "
Company
") entered into an Agreement and Plan of Merger (the "
Merger
Agreement
") with Winner Holding Limited, a Cayman Islands exempted company with limited liability ("
Parent
"),
which is indirectly wholly-owned by Mr. Jianquan Li, the chairman of the Company's board of directors (the "
Board
of Directors
") and chief executive officer, and Winner Acquisition, Inc., a Nevada corporation and a wholly-owned subsidiary
of Parent ("
Merger Sub
", together with the Company and Parent, the "
Parties
" and any one
of them a "
Party
").
The Merger Agreement
Pursuant
to the Merger Agreement, upon the terms and subject to the conditions thereof, at the effective time of the merger, Merger
Sub will be merged with and into the Company, the Company will become a wholly-owned subsidiary of Parent and each of the
Company's shares of common stock issued and outstanding immediately prior to the effective time of the merger (the
"
Shares
") will be converted into the right to receive $4.50 in cash without interest, except for (i)
Shares owned by Parent and Merger Sub, including shares to be contributed to Parent by Mr. Jianquan Li and Ms. Ping Tse
immediately prior to the effective time of the merger pursuant to a contribution agreement, dated as of July 24, 2012, among
Parent, Glory Ray Holdings Limited, Mr. Jianquan Li and Ms.
Ping Tse, and (ii) Shares held by the Company as treasury
stock, which will be cancelled and retired and cease to exist as of the effective time of the merger
.
Currently, Mr. Jianquan Li and Ms.
Ping Tse collectively
beneficially own
approximately 73.95% of the Company's outstanding shares of common stock.
Each restricted
stock unit of the Company pursuant to its incentive plan for the fiscal year 2010-2011 that is outstanding as of the
effective time of the merger will be treated as a share of Company's common stock for all purposes of the Merger
Agreement. Each (a) restricted stock unit of the Company pursuant to its incentive plan for the fiscal years 2011-2013 that
is outstanding as of the effective time and (b) restricted stock unit and option pursuant to the incentive plan for fiscal
year 2012-2013 that is outstanding but unvested as of the effective time, shall be cancelled and converted into the right
to receive one restricted stock unit or option of Glory Ray Holdings Limited (as applicable). In addition, each option
pursuant to the incentive plan for fiscal year 2012-2013 that is outstanding and vested as of the effective time shall be
cancelled and converted into the right to receive cash in an amount equal to (i) the total number of shares of Company common
stock subject to such option multiplied by (ii) the excess, if any, of (x) the merger consideration described above over (y)
the exercise price payable per share issuable under such option.
The Merger Agreement
contains representations and warranties of the Parties that are, in general, customary for a transaction of this type. The assertions
embodied in those representations and warranties were made solely for purposes of the contract among the Parties and may be subject
to important qualifications and limitations agreed to by the Parties in connection with the negotiated terms. Moreover, some of
those representations and warranties may not be accurate or complete as of any specified date, may be subject to a contractual
standard of materiality different from those generally applicable to stockholders or may have been used for purposes of allocating
risk among the Parties rather than establishing matters as facts.
The Parties have also
agreed to certain covenants, including covenants requiring the Company to conduct its business in the ordinary course of business
consistent with past practice in all material respects and use reasonable best efforts to maintain and preserve substantially intact
its business organization and present business relationship with key customers and suppliers and keep available the services of
current key officers and employees through the effective time of the merger, except as expressly provided in the Merger Agreement.
From the date of the
Merger Agreement until 40 days thereafter, the Company has the right to initiate, solicit and encourage alternative transaction
proposals from any third party. After such 40-day period, the Company has agreed to certain restrictions on its ability to solicit
or initiate proposals or offers, and to engage in or otherwise participate in discussions or negotiations, with third parties concerning
any alternative transaction proposal until the earlier to occur of the termination of the Merger Agreement pursuant to its terms
and the time at which the merger is consummated.
Consummation
of the merger is subject to the satisfaction or waiver of customary closing conditions, including, but not limited to: (i)
adoption of the Merger Agreement by the affirmative vote of the holders of both (x) a majority of the outstanding shares of
the Company's common stock and (y) a majority of the outstanding shares of the Company's common stock not owned
by Parent, Merger Sub, Mr. Jianquan Li or Ms. Ping Tse; (ii) the absence of any order,
injunction or decree preventing
or making illegal the consummation of the merger; (iii) the truth and correctness of each Party's representations and
warranties at closing; and (iv) the absence of any material adverse effect on the Company
.
2
The Merger Agreement
may be terminated at any time prior to the effective time of the merger by the Company and/or Parent (whether before or after the
receipt of stockholder approval) under the circumstances and in the manner prescribed in the Merger Agreement. Upon termination
(a) the Merger Agreement shall forthwith become void and have no effect and none of the Company, Parent, any of their respective
subsidiaries or any of their respective representatives shall have any liability of any nature whatsoever under the Merger Agreement,
or in connection with the transactions contemplated thereby (save as excepted), and (b) no Party shall be relieved or released
from any liabilities or damages arising out of its fraud or willful and material breach of any provision of the Merger Agreement.
Further, in specified
circumstances, if the Merger Agreement has been terminated, the Company shall pay Parent a termination fee in the amount of US$1,500,000
or US$750,000, as applicable, or receive from Parent a termination fee in an amount equal to US$1,800,000.
Parent has a secured
debt facility from DBS Bank Ltd., Hong Kong Branch, with which it is financing the transactions contemplated by the Merger Agreement.
Voting Agreement
Concurrently
with the execution of the Merger Agreement, Parent, Mr. Jianquan Li and Ms. Ping Tse entered into a Voting Agreement (the
"
Voting Agreement
") with the Company under which they have agreed, among other things, to vote all of the
shares of Company common stock beneficially owned by such persons and entities in favor of the adoption of the Merger
Agreement and against any other acquisition proposal with respect to the Company.
Limited Guaranty
Concurrently with
the execution of the Merger Agreement, Mr. Jianquan Li entered into a limited guaranty (the "
Limited Guaranty
")
in favor of the Company, guaranteeing certain payment obligations of Parent pursuant to the Merger Agreement.
The
foregoing descriptions of the Merger Agreement, the Voting Agreement and the Limited Guaranty do not purport to be complete and
are qualified in their entirety by reference to the Merger Agreement, the Voting Agreement and the Limited Guaranty, copies of which
are filed as Exhibit 2.1, Exhibit 9.1 and Exhibit 9.2
hereto, respectively, and are incorporated herein in their entirety
by reference
.
Board Recommendation; Proxy
Materials
The Board of Directors,
acting upon the unanimous recommendation of a special committee of the Board of Directors comprised solely of independent and
disinterested directors (the "
Special Committee
"), approved and adopted the Merger Agreement and has recommended
that the Company's stockholders vote to approve the Merger Agreement. The Special Committee negotiated the terms of the
Merger Agreement with the assistance of William Blair & Company, L.L.C., which has provided an opinion to the effect that
the consideration and other terms contained in the Merger Agreement are fair, from a financial perspective, to the Company's
stockholders (excluding Parent, Merger Sub and their Affiliates (as defined in the Merger Agreement), the Rollover Holders (as
defined in the Merger Agreement) and the directors of the Company).
In connection with
the proposed merger, the Company will prepare and mail a proxy statement to its stockholders. In addition, certain participants
in the proposed transaction will prepare and mail to the Company's stockholders a Schedule 13E-3 transaction statement.
These documents will be filed with or furnished to the Securities and Exchange Commission (the "
SEC
"). INVESTORS
AND STOCKHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED
TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PARENT, THE COMPANY, THE MERGER, THE PERSONS
SOLICITING PROXIES IN CONNECTION WITH THE MERGER ON BEHALF OF THE COMPANY AND THE INTERESTS OF THOSE PERSONS IN THE MERGER AND
RELATED MATTERS. In addition to receiving the proxy statement and Schedule 13E-3 transaction statement by mail, stockholders also
will be able to obtain these documents, as well as other filings containing information about the Company, the proposed merger
and related matters, without charge, from the SEC's website (http://www.sec.gov) or at the SEC's public reference
room at 100 F Street, NE, Room 1580, Washington, D.C. 20549. In addition, these documents can be obtained, without charge, by
contacting the Company at Winner Medical Group Inc., Winner Industrial Park, Bulong Road, Longhua, Shenzhen, People's Republic
of China, 518109, telephone: (86) 755-2813 8888.
3
Participants in the Solicitation
The Company and certain of its directors,
executive officers and other members of management and employees may, under SEC rules, be deemed to be "participants"
in the solicitation of proxies from the Company's stockholders with respect to the proposed merger. Information regarding
the persons who may be considered "participants" in the solicitation of proxies will be set forth in the proxy statement
and Schedule 13E-3 transaction statement relating to the proposed merger when it is filed with the SEC. Additional information
regarding the interests of such potential participants will be included in the proxy statement and Schedule 13E-3 transaction statement
and the other relevant documents filed with the SEC when they become available.
Forward-Looking Information
This Current Report
on Form 8-K contains certain statements that may include "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, included herein are "forward-looking statements" including statements regarding
the Company and its subsidiary companies' business strategy, plans and objectives and statements of non-historical information.
These forward-looking statements are often identified by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions. Although the Company believes that the expectations reflected in these forward-looking
statements are reasonable, they do involve assumptions and involve known and unknown risks and uncertainties, and these expectations
may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the
date of this report. Winner Medical's actual results could differ materially from those anticipated in these forward-looking statements
as a result of a variety of factors, including those discussed in Winner Medical's periodic reports that are filed with and available
from the SEC. All forward-looking statements attributable to Winner Medical or persons acting on its behalf are expressly qualified
in their entirety by these factors. Other than as required under the securities laws, Winner Medical does not assume a duty to
update these forward-looking statements.
Item 8.01.	Other Events.
On July 24, 2012,
the Company issued a press release announcing its entry into the Merger Agreement. A copy of the press release is attached hereto
as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01	Financial Statements and Exhibits.
Exhibits
Exhibit No.
Description
2.1
Agreement and Plan of Merger, dated as of July 24, 2012, by and among Winner Medical Group Inc., Winner Holding Limited and Winner Acuqisition, Inc.
9.1
Voting Agreement, dated as of July 24, 2012, by and among Winner Holding Limited, Winner Medical Group Inc., Mr. Jianquan Li and Ms. Ping Tse
9.2
Limited Guaranty, dated as of July 24, 2012, by and between Mr. Jianquan Li and Winner Medical Group Inc.
99.1
Press Release of Winner Medical Group Inc., dated July 24, 2012
4
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Winner Medical Group Inc.
Date:      July 25, 2012
By:
/s/
Xiuyuan Fang
Xiuyuan Fang
Chief Financial Officer
5