Core Viewpoint - Northeast Securities has given a "buy" rating to Weigao Group (01066) following its successful acquisition of MDSAP certification, which will facilitate the international expansion of its products [1] Group 1: Company Performance and Projections - The company is a leading provider of comprehensive medical system solutions in China, focusing on platformization, internationalization, and digitalization to maintain its market leadership [1] - Revenue projections for Weigao Group are estimated at 135.41 billion, 149.60 billion, and 163.01 billion yuan for the years 2025 to 2027, with net profits of 20.76 billion, 23.57 billion, and 26.05 billion yuan respectively, corresponding to PE ratios of 12X, 10X, and 9X [1] Group 2: MDSAP Certification and Product Development - The MDSAP certification is recognized by regulatory bodies in the US, Australia, Brazil, Canada, and Japan, allowing manufacturers to streamline their quality management system audits, thus saving time and resources [2] - The company plans to enhance its product matrix by transitioning from low-cost to high-cost/specialized products, with over 100 new products expected to be approved in the next three years [2] - The orthopedic segment will focus on new materials, regenerative rehabilitation, smart assistance, and 3D printing, particularly in minimally invasive spine and pain management [2] - The company is also expanding its blood management segment, with a projected production capacity of over 100 million blood bags by 2025 and an additional 20 million overseas capacity expected next year [2] Group 3: International Revenue and Acquisitions - In the first half of 2025, the company achieved overseas revenue of 16.24 billion yuan, a year-on-year increase of 3.98%, accounting for 24.44% of total revenue, with significant growth in the US and EMEA regions [3] - Recent acquisitions include Argon, a US interventional device manufacturer, GHC Healthcare, a medical device distributor, and Radsource, a blood irradiation device manufacturer, which have been integrated to enhance synergies [3]

Core Viewpoint - Weigao Co., Ltd. has successfully obtained the MDSAP certification, enhancing its international market expansion capabilities and solidifying its leading position in the medical system solutions sector [1][2]. Financial Projections - The company is projected to achieve revenues of 135.41 billion, 149.60 billion, and 163.01 billion CNY for the years 2025 to 2027, with corresponding net profits of 20.76 billion, 23.57 billion, and 26.05 billion CNY, resulting in PE ratios of 12X, 10X, and 9X respectively [1]. MDSAP Certification Impact - The MDSAP certification, recognized by regulatory bodies in the US, Australia, Brazil, Canada, and Japan, allows manufacturers to streamline their quality management system audits, significantly reducing time and resource costs associated with multiple country certifications [2]. Product Development and Market Strategy - The company is focusing on enhancing its product matrix by transitioning from low-cost to high-cost/specialized products, with plans to approve over 100 new products in the next three years [2]. - In the orthopedic sector, the company is expanding into new materials, regenerative rehabilitation, smart assistance, and 3D printing, particularly in minimally invasive spine and pain management areas [2]. - The interventional segment has plans to shift some main products to mainland production, with upcoming product launches and academic seminars for Cleaner Vac [2]. - The pharmaceutical packaging segment is developing new production lines for pre-filled syringes and automatic injection pens, expected to commence production in 2026 [2]. - The blood management segment anticipates exceeding a total production capacity of 100 million blood bags by 2025, with an additional 20 million sets of overseas capacity planned for next year [2]. International Revenue Performance - In the first half of 2025, the company reported overseas revenues of 16.24 billion CNY, a year-on-year increase of 3.98%, accounting for 24.44% of total revenue, with significant growth in the US and EMEA regions [3]. - The company has made strategic acquisitions in recent years, including Argon, GHC Healthcare, and Rad Source, to enhance its overseas platform integration and realize synergies [3].

Group 1 - The article reports on share buybacks conducted by various companies on September 19, 2025, with Tencent Holdings (00700) having the largest buyback amount of 551 million yuan for 857,000 shares [1][2] - Other notable companies involved in buybacks include Shankou Holdings (00412) with 3.7 million shares repurchased for 22.62 million yuan, and Tianli International Holdings (01773) with 3.41 million shares for 10.62 million yuan [2] - The total number of shares repurchased by Tencent Holdings in the year reached 59.863 million, accounting for 0.651% of its total share capital [2] Group 2 - Haier Smart Home (06690) repurchased 300,000 shares for 8.08 million yuan, representing 0.011% of its total share capital [2] - Other companies like Coolpad Group (02369) and Weigao Group (01066) also participated, with Coolpad repurchasing 1.092 million shares for 1.42 million yuan, and Weigao repurchasing 440,000 shares for 2.56 million yuan, accounting for 3.365% of its total share capital [2] - The buyback activities reflect a trend among companies to utilize excess cash for share repurchases, potentially signaling confidence in their future performance [1][2]

智通财经APP讯，威高股份(01066)发布公告，该公司于2025年9月19日斥资256.02万港元回购44万股股 份，每股回购价格为5.73-5.88港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 山東威高集團醫用高分子製品股份有限公司 呈交日期： 2025年9月19日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 01066 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股 ...

Group 1 - The company maintains a "buy" rating and has adjusted its EPS forecasts for 2025-2027 to 0.44, 0.50, and 0.56 yuan, down from previous estimates of 0.51, 0.57, and 0.63 yuan, respectively [1] - The target price is set at 8.00 yuan (equivalent to 8.76 HKD), based on a target PE of 16X for 2026 [1] - The company reported a sales revenue of 6.64 billion yuan for H1 2025, remaining flat year-on-year, while the adjusted net profit decreased by 6.1% to 1.02 billion yuan due to price reductions and marketing investments for new products [1] Group 2 - The general medical device segment generated revenue of 3.30 billion yuan in H1 2025, remaining stable year-on-year, with slight volume growth in key products like infusion sets and syringes [2] - The pharmaceutical packaging segment also saw revenue of 1.17 billion yuan, with stable sales prices and a significant increase of approximately 200% in automatic injection pen sales [2] - The orthopedic segment's revenue was 730 million yuan, a slight decline of 1.6%, but the segment's profit increased by 74% year-on-year, with double-digit growth in spinal products [2] Group 3 - The company has maintained a high dividend payout ratio, increasing it to 40% in 2023 and planning to further raise it to 50% by the end of 2024 [2] - For the mid-year dividend in 2025, the company intends to maintain a payout ratio of 50%, reflecting its commitment to shareholder returns [2]

证券时报·数据宝统计，威高股份在港交所公告显示，9月18日以每股5.850港元至5.900港元的价格回购 54.00万股，回购金额达316.82万港元。该股当日收盘价5.980港元，上涨1.36%，全天成交额1.66亿港 元。 今年以来该股累计进行68次回购，合计回购2140.20万股，累计回购金额1.22亿港元。（数据宝） 威高股份回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.09.18 | 54.00 | 5.900 | 5.850 | 316.82 | | 2025.09.17 | 195.48 | 5.900 | 5.820 | 1142.55 | | 2025.09.16 | 53.00 | 5.940 | 5.820 | 312.22 | | 2025.09.15 | 95.60 | 5.850 | 5.790 | 557.62 | | 2025.09.12 | 31.96 | 5.900 | 5.770 | 187.85 | | 2025.09.1 ...

格隆汇9月18日丨威高股份(01066.HK)公告，9月18日耗资316.8万港元回购54万股。 ...

智通财经APP讯，威高股份(01066)发布公告，于2025年9月18日该公司斥资316.82万港元回购54万股， 回购价格为每股5.85-5.90港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) FF305 確認 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： 表格類別： 股票 狀態： 新提交 公司名稱： 山東威高集團醫用高分子製品股份有限公司 呈交日期： 2025年9月18日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | ...