本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 上述产品共计23,500万元人民币已到期赎回，收回本金合计23,500万元人民币，获得收益合计36.43万元 人民币，具体情况如下： 单位：万元 ■ 二、截至本公告日，授权有效期内使用募集资金进行现金管理的情况 截至本公告披露日，公司使用闲置募集资金进行现金管理未到期余额为24,000.00万元人民币，未超过董 事会授权使用闲置募集资金进行现金管理的金额范围和投资期限。 特此公告。 ●本期赎回金额：23,500万元。 ●赎回理财产品名称：结构性存款。 ●履行的审议程序：山东威高血液净化制品股份有限公司（以下简称"威高血净"或"公司"）于2025年5月 27日召开了第二届董事会第十一次会议和第二届监事会第八次会议，审议通过了《关于使用部分暂时闲 置募集资金进行现金管理的议案》，同意公司（含子公司，下同）在确保不影响募集资金项目建设和募 集资金使用的情况下，使用最高不超过人民币74,000万元（含本数）的暂时闲置募集资金进行现金管 理，增加公司收益，为公司及股东获取投 ...

证券代码：603014 证券简称：威高血净 公告编号：2026-007 山东威高血液净化制品股份有限公司 关于使用暂时闲置募集资金进行现金管理 到期赎回的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 二、截至本公告日，授权有效期内使用募集资金进行现金管理的情况 截至本公告披露日，公司使用闲置募集资金进行现金管理未到期余额为 24,000.00 万元人民币，未超过董事会授权使用闲置募集资金进行现金管理的金额范 围和投资期限。 单位：万元 | 序 | 购买 | 签约银行 | 产品名 | 认购金额 | 起息日 | 到期日 | 预期年化收益率 | 赎回金额 | 实际收 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | 主体 | | 称 | | | | | | 益 | | 1 | 威高 血净 | 威海银行股 份有限公司 东城支行 | 结构性 存款 | 18,000.00 | 2026/1/1 | 2026/1/31 | 0. ...

来源：新浪证券-红岸工作室 2月4日，威高血净涨0.17%，成交额3662.68万元，换手率2.32%，总市值168.15亿元。 异动分析 医疗器械概念+注册制次新股+一带一路+新股与次新股+股权转让(并购重组) 1、山东威高血液净化制品股份有限公司的主营业务为血液净化医用制品的研发、生产和销售。公司主 要产品包括血液透析器、血液透析管路、血液透析机以及腹膜透析液，分别围绕血液透析和腹膜透析领 域，辅以透析配套产品的销售，是国内产品线最为丰富的血液净化医用制品厂商之一。 2、山东威高血液净化制品股份有限公司于2025-05-19日上市，主营业务为血液净化医用制品的研发、 生产和销售。 今日主力净流入-203.87万，占比0.06%，行业排名89/135，连续3日被主力资金减仓；所属行业主力净流 入-1.09亿，连续3日被主力资金减仓。 区间今日近3日近5日近10日近20日主力净流入-203.87万-271.04万-479.11万-2631.40万-8051.46万 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额725.99万，占总成交额的2.97%。 技术面：筹码平均交易成本为41.25元 3、2025 ...

证券代码：603014 证券简称：威高血净 公告编号：2026-006 山东威高血液净化制品股份有限公司 关于发行股份购买资产暨关联交易事项的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 二、本次交易的历史披露情况 为了维护投资者利益，避免对公司股价造成重大影响，根据上海证券交易所（以 下简称"上交所"）的相关规定，经公司申请，公司股票（证券简称：威高血净， 证券代码：603014）自 2025 年 10 月 20 日（星期一）开市起停牌，具体内容详见公 司于 2025 年 10 月 18 日披露的《山东威高血液净化制品股份有限公司关于筹划发行 股份购买资产暨关联交易事项的停牌公告》（公告编号：2025-033）以及 2025 年 10 月 25 日披露的《山东威高血液净化制品股份有限公司关于筹划发行股份购买资产暨 关联交易事项停牌的进展公告》（公告编号：2025-034）。 2025 年 10 月 31 日，公司召开了第二届董事会第十七次会议，审议通过了《关 于<山东威高血液净化制品股份有限公司发行股份购买资产暨 ...

Group 1 - The core viewpoint of the news is that Weigao Blood Purification has shown positive financial performance with a slight increase in stock price and notable trading activity on January 21, 2025 [1] - On January 21, 2025, Weigao Blood Purification's stock price increased by 1.24%, with a trading volume of 107 million yuan, and a net financing purchase of 1.71 million yuan [1] - As of January 21, 2025, the total balance of margin trading for Weigao Blood Purification is 133 million yuan, which accounts for 8.08% of its market capitalization [1] Group 2 - As of September 30, 2025, the number of shareholders for Weigao Blood Purification is 24,800, a decrease of 20.95% from the previous period, while the average circulating shares per person increased by 26.51% to 1,535 shares [2] - For the period from January to September 2025, Weigao Blood Purification achieved an operating income of 2.736 billion yuan, representing a year-on-year growth of 3.45%, and a net profit attributable to shareholders of 341 million yuan, with a year-on-year increase of 7.92% [2] - Since its A-share listing, Weigao Blood Purification has distributed a total of 65.8213 million yuan in dividends [3]

Core Viewpoint - The company, Weigao Blood Purification, has shown a slight increase in stock price and has reported its financial activities, including financing and revenue growth, indicating a stable performance in the blood purification industry [1][2]. Financing Summary - On January 19, Weigao Blood Purification had a financing buy amount of 6.1682 million yuan, with a net financing buy of 78,900 yuan after repayments [1][2]. - The current financing balance stands at 129 million yuan, accounting for 7.96% of the circulating market value [2]. Stock and Shareholder Information - As of September 30, the number of shareholders for Weigao Blood Purification is 24,800, which is a decrease of 20.95% compared to the previous period [2]. - The average circulating shares per person increased by 26.51% to 1,535 shares [2]. Revenue and Profit Performance - For the period from January to September 2025, Weigao Blood Purification achieved an operating income of 2.736 billion yuan, reflecting a year-on-year growth of 3.45% [2]. - The net profit attributable to the parent company was 341 million yuan, representing a year-on-year increase of 7.92% [2]. Dividend Information - Weigao Blood Purification has cumulatively distributed dividends amounting to 65.8213 million yuan since its A-share listing [3].

Core Viewpoint - Weigao Blood Purification is acquiring 100% equity of Weigao Prue from Weigao Group and other parties for 8.511 billion yuan, raising concerns about potential asset stripping of Weigao Shares and the implications of this transaction on the company's structure and valuation [1][4]. Group 1: Transaction Details - Weigao Blood Purification plans to purchase Weigao Prue, a subsidiary of Weigao Shares, which will become a wholly-owned subsidiary post-transaction [1][2]. - The acquisition price of 8.511 billion yuan is based on Weigao Prue's projected net profit of 5.81 billion yuan for 2024, resulting in a P/E ratio of 14.66, compared to Weigao Shares' dynamic P/E ratio of around 11 [6]. Group 2: Financial Performance - Weigao Prue has shown strong financial performance, with projected revenues of 14.30 billion yuan, 16.73 billion yuan, and 14.12 billion yuan for 2023, 2024, and the first nine months of 2025, respectively [2]. - The net profits for the same periods are projected to be 4.83 billion yuan, 5.81 billion yuan, and 4.86 billion yuan, indicating that Weigao Prue's profitability is 1.29 times that of Weigao Blood Purification in 2024 [2][5]. Group 3: Strategic Implications - The transaction is seen as a strategic move to consolidate quality assets and enhance the profitability and investment value of Weigao Blood Purification, while also raising concerns about the potential for Weigao Shares to be stripped of its core assets [4][5]. - Following the acquisition, Weigao Blood Purification's earnings per share are expected to increase significantly, with projected basic earnings per share of 1.60 yuan and 1.25 yuan for 2024 and the first nine months of 2025, respectively, reflecting increases of 32% and 47% [6]. Group 4: Market Position and Challenges - Weigao Blood Purification holds a leading market share in the domestic blood dialysis device sector, with 32.5% for blood dialysis machines and 31.8% for blood dialysis tubing in 2023 [7]. - The company faces challenges from centralized procurement policies, which may pressure product prices and impact future revenue growth, as evidenced by a decline in average factory prices for related products [7][8].

Summary of Weigao Blood Purification Conference Call Company Overview - Weigao Blood Purification is a leading enterprise in China's blood dialysis industry, ranking in the top three for core products such as dialyzers, dialysis machines, and dialysis tubing [2][4][8] - The company is experiencing rapid growth in peritoneal dialysis fluid business and overall performance is stable, with a projected completion of a significant acquisition in Q2 to Q3 of 2026 [2][3] Industry Insights - The number of end-stage renal disease (ESRD) patients in China is growing at nearly double-digit rates, but the dialysis treatment rate is significantly lower than the global average, indicating potential for industry growth [2][6][14] - The blood dialysis industry is expected to maintain double-digit growth over the next 5-10 years, with domestic manufacturers likely to increase market share [2][6] Key Developments - Weigao Blood Purification is breaking foreign monopolies through independent research and development, with a portable CRRT device expected to launch between 2026 and 2027 [2][7] - The acquisition of Weigao Purui is anticipated to enhance the company's presence in the upstream biopharmaceutical market, which has a substantial profit margin [2][8][27] Financial Performance - The company plans to continue technological innovation and expand into the upstream biopharmaceutical market, with a projected compound annual growth rate (CAGR) of approximately 10% for future revenue and profits [2][9] - Despite price reductions due to centralized procurement policies, sales volumes have significantly increased, benefiting overall profits and market share [2][20] Product Lines and Market Position - Weigao's main products include low, medium, and high-flux dialyzers, dialysis machines, and neutral dialysis fluids, with dialyzers accounting for about 50% of revenue [11] - The company has a strong competitive edge in the market, with certain products achieving gross margins of around 60% [11] Market Trends and Challenges - The average factory price for dialysis machines is projected to be around 100,000 yuan in 2024, which is higher than the industry average [12] - The centralized procurement policy has led to significant price reductions for some consumables, but the impact on upstream factory prices has been limited [20] Future Plans - Weigao aims to enhance its production capacity, with plans to increase capacity by over 50% through fundraising efforts [22] - The company is also focusing on expanding its overseas business, with subsidiaries established in multiple countries and a target for overseas revenue to reach over 50% in the future [26] Strategic Acquisitions - The acquisition of Weigao Purui is expected to significantly boost Weigao Blood Purification's performance, with a focus on entering the biopharmaceutical filter market [8][27] - The strategic acquisition is anticipated to improve the company's overall valuation and market competitiveness [10][27] Conclusion - Weigao Blood Purification is well-positioned in the growing blood dialysis market, with strong product lines, strategic acquisitions, and a focus on innovation and international expansion, indicating substantial potential for future growth and profitability [2][9][28]

Core Viewpoint - Weigao Blood Purification is acquiring 100% equity of Weigao Prue from Weigao Group and other parties for 8.511 billion yuan, raising concerns about potential asset stripping of Weigao Group and the rationale behind this significant restructuring shortly after Weigao Blood Purification's A-share listing [1][20]. Group 1: Transaction Details - The acquisition involves Weigao Blood Purification purchasing Weigao Prue, a subsidiary of Weigao Group, which will become a wholly-owned subsidiary post-transaction [3][21]. - Weigao Prue, established in September 2018, is a leader in pre-filled syringe systems, holding over 50% market share in China from 2022 to 2024, and ranks among the top five globally [21][22]. - Financial projections indicate that Weigao Prue will significantly enhance Weigao Blood Purification's profitability, with expected revenues of 14.30 billion yuan, 16.73 billion yuan, and 14.12 billion yuan for 2023, 2024, and the first nine months of 2025, respectively [21][22]. Group 2: Historical Context and Ownership Changes - Weigao Blood Purification was originally established in December 2004 with Weigao Group as a major shareholder, holding a 70% stake at inception [4][22]. - In November 2019, Weigao Blood Purification's registered capital increased to 2.9907 billion yuan, with Weigao Group becoming the largest shareholder [5][24]. - The restructuring marks a return of Weigao Blood Purification under Weigao Group's control, raising questions about the implications for minority shareholders and the potential for asset stripping [6][25]. Group 3: Valuation and Financial Impact - The acquisition price of 8.511 billion yuan reflects a significant premium, with an estimated valuation increase of over 5.6 billion yuan for Weigao Prue, resulting in a 192.9% appreciation [10][29]. - The price-to-earnings ratio for the acquisition is calculated at 14.66 times based on Weigao Prue's projected net profit of 5.81 billion yuan for 2024, compared to Weigao Group's current P/E ratio of around 11 [10][29]. - Post-acquisition, Weigao Blood Purification's earnings per share are expected to rise by 32% and 47% for the years 2024 and the first nine months of 2025, respectively [10][30]. Group 4: Market Position and Challenges - Weigao Blood Purification holds a leading market share of 32.5% in the domestic blood dialysis device sector and 31.8% in blood dialysis tubing [31][32]. - The company faces challenges from centralized procurement policies, which may pressure prices and impact future revenue growth [32][33]. - Despite price pressures, the company has seen a growth in sales volume, although revenue growth has slowed to 3.45% as of Q3 2023, down from a peak of 17.71% in 2022 [36].

证券代码：603014 证券简称：威高血净 公告编号：2026-005 山东威高血液净化制品股份有限公司 关于使用暂时闲置募集资金进行现金管理 到期赎回的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ●本期赎回金额：23,500 万元。 ●赎回理财产品名称：结构性存款。 ●履行的审议程序：山东威高血液净化制品股份有限公司（以下简称"威高血净" 或"公司"）于 2025 年 5 月 27 日召开了第二届董事会第十一次会议和第二届监事会 第八次会议，审议通过了《关于使用部分暂时闲置募集资金进行现金管理的议案》， 同意公司（含子公司，下同）在确保不影响募集资金项目建设和募集资金使用的情 况下，使用最高不超过人民币 74,000 万元（含本数）的暂时闲置募集资金进行现金 管理，增加公司收益，为公司及股东获取投资回报。 一、本次现金管理到期赎回情况 2025 年 12 月 1 日，公司使用暂时闲置募集资金向民生银行威海分行购买了金额 为 5,500 万元人民币的结构性存款产品；2025 年 12 月 4 日，公司 ...