山东威高血液净化制品股份有限公司 关于独立董事辞职暨补选独立董事的公告 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。 山东威高血液净化制品股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日 召开了公司第二届董事会第十三次会议，审议并通过了《关于审议第二届董事 会独立董事候选人及其年度津贴的议案》，现将相关情况公告如下： 一、独立董事辞职情况 山东威高血液净化制品股份有限公司（以下简称"公司"）董事会于近日收到 独立董事刘二飞先生的书面辞职报告。因个人原因，刘二飞先生申请辞去第二届董 事会独立董事职务，同时一并辞去董事会审计委员会委员、薪酬与考核委员会委员 及提名委员会委员职务，辞任后，刘二飞先生不在公司担任任何职务。 证券代码：603014 证券简称：威高血净 公告编号：2025-020 任期自公司股东大会审议通过之日起至第二届董事会任期届满之日止。该事项尚 需提交公司股东大会审议通过。 独立董事候选人张珍华女士尚未取得证券交易所认可的相关独立董事培训 证明材料，其承诺尽快参加上海证券交易所举办的独立董事培训 ...

证券代码：603014 证券简称：威高血净 公告编号：2025-016 山东威高血液净化制品股份有限公司 关于 2025 年半年度募集资金存放、管理与实际使用情况 的专项报告 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。 根据《上市公司募集资金监管规则》《上海证券交易所上市公司自律监管指引第 1 号—规范运作》《上海证券交易所上市公司自律监管指南第 1 号—公告格式》的有 关规定，现将山东威高血液净化制品股份有限公司（以下简称"公司"）2025 年半年 度募集资金存放与使用情况说明如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 山东威高血液净化制品股份有限公司（以下简称"公司"）首次公开发行人民币 普通股 4,113.94 万股，募集资金总额为 109,019.43 万元，扣除各项发行费用后，实 际募集资金净额为 97,789.11 万元。该项募集资金于 2025 年 5 月 14 日全部到位。安 永华明会计师事务所（特殊普通合伙）对公司本次公开发行新股的资金到位情况进 行了审验，并于 2025 年 5 ...

证券代码：603014 证券简称：威高血净 公告编号：2025-017 山东威高血液净化制品股份有限公司 关于变更公司经营范围、取消监事会并修订《公司章程》 及相关制度的公告 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。 山东威高血液净化制品股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日 召开了公司第二届董事会第十三次会议，审议并通过了《关于变更公司经营范 围、取消监事会并修订<公司章程>的议案》以及《关于修订公司部分治理制度的 议案》，现将相关情况公告如下： 一、变更经营范围情况 根据公司实际经营需要，公司拟调整经营范围，并对《公司章程》进行修订。 变更前经营范围为：许可项目：第二类医疗器械生产；第三类医疗器械生产； 第三类医疗器械经营；第三类医疗器械租赁；道路货物运输（不含危险货物）。（依 法须经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部 门批准文件或许可证件为准）一般项目：第一类医疗器械生产；第一类医疗器械销 售；第一类医疗器械租赁；第二类医疗器械销售；第二类医疗器械租赁；货 ...

证券代码：603014 证券简称：威高血净 公告编号：2025-015 山东威高血液净化制品股份有限公司 关于召开2025年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 (一)股东大会类型和届次 2025年第一次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 15 日15 点 00 分 召开地点：山东省威海市威高西路 7 号威高血液净化办公楼 5 楼 508 会议室 (五)网络投票的系统、起止日期和投票时间。 股东大会召开日期：2025年9月15日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 9 月 15 日 至2025 年 9 月 15 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票 ...

证券代码：603014 证券简称：威高血净 公告编号：2025-019 山东威高血液净化制品股份有限公司 第二届监事会第十次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或 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。 一、监事会会议召开情况 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"）第二届监 事会第十次会议于 2025 年 8 月 26 日以现场和通讯相结合的方式在公司会议室召开。 本次会议由监事会主席宋大鹏召集并主持，会议应出席监事 3 人，实际出席监事 3 人。本次会议的召集、召开和表决程序符合《中华人民共和国公司法》等法律、法 规、部门规章、规范性文件和《公司章程》的有关规定。 二、监事会会议审议情况 （一）审议通过了《关于公司 2025 年半年度报告全文及摘要的议案》 公司监事会认为：1、公司《山东威高血液净化制品股份有限公司 2025 年半年 度报告》编制和审议程序符合法律、法规、《公司章程》和公司内部管理制度的规定； 2、半年度报告的内容和格式符合中国证监会和上海证券交易所的各项规定，所包含 的信息能从各个方面真实地反映出公 ...

山东威高血液净化制品股份有限公司董事会 薪酬与考核委员会关于公司2025年限制性股票激励计划 相关事项的核查意见 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》 （以下简称"《管理办法》"）以及《公司章程》等有关法律法规及规范性文件 的规定，山东威高血液净化制品股份有限公司（以下简称"公司"）董事会薪酬 与考核委员会对《山东威高血液净化制品股份有限公司 2025 年限制性股票激励计 划（草案）》（以下简称"本次激励计划"）及其摘要等相关事项进行了核查，现 发表核查意见如下： 1、公司本次激励计划的制定、审议流程和内容符合《公司法》《证券法》 《管理办法》等有关法律、法规和规范性文件以及《公司章程》的规定；对各激 励对象获授限制性股票的授予安排、解除限售安排（包括但不限于授予额度、授 予日期、授予条件、授予价格、限售期、解除限售期、解除限售条件）等事项未 违反有关法律、法规和规范性文件的规定，未侵犯公司及全体股东的利益。 2、公司不存在《管理办法》等法律、法规、规范性文件规定的不得实施股 权激励计划的情形： （1）最近一 ...

证券代码：603014 证券简称：威高血净 公告编号：2025-018 山东威高血液净化制品股份有限公司 第二届董事会第十三次会议决议公告 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。 一、董事会会议召开情况 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"）第二届董 事会第十三次会议于 2025 年 8 月 26 日以现场和通讯相结合的方式在公司会议室召 开，会议通知于 2025 年 8 月 25 日通过通讯方式送达全体董事。本次会议由董事长 宋修山召集并主持，会议应出席董事 9 人，实际出席董事 9 人；公司部分高级管理 人员列席了本次会议。本次会议的召集、召开和表决程序符合《中华人民共和国公 司法》等法律、法规、部门规章、规范性文件和《公司章程》的有关规定。 二、董事会会议审议情况 表决结果：9 票同意，0 票弃权，0 票反对。 本议案需提交股东大会审议。 （三）审议通过了《关于公司<2025 年限制性股票激励计划（草案）>及其摘要 的议案》 具体内容详见公司同日刊登于上海证券交易所网站（www.sse ...

证券代码：603014 证券简称：威高血净 公告编号：2025-013 山东威高血液净化制品股份有限公司 关于 2025 年半年度利润分配方案的公告 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： ·每股分配比例：每 10 股派发现金红利 1.6 元（含税）。 ·本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日期将 在权益分派实施公告中明确。 ·在实施权益分派的股权登记日前公司总股本发生变动的，拟维持分配总额不 变，相应调整每股分配比例比例，并将在相关公告中披露。 ·本次利润分配方案已经公司第二届董事会第十三次会议和第二届监事会第十 次会议审议通过，尚需提交公司 2025 年第一次临时股东大会审议。 一、利润分配方案内容 （二）监事会审议情况 公司于 2025 年 8 月 26 日召开的第二届监事会第十次会议审议通过了《关于公 司 2025 年中期分红的议案》，监事会认为：公司 2025 年中期利润分配方案充分考虑 了公司经营情况、资金需求以及未来发展战略，有利于公司的长远稳健发展，符合 公司及全 ...

[Important Notice](index=2&type=section&id=Important%20Notice) [Board of Directors, Supervisory Board, and Senior Management Statement](index=2&type=section&id=Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Senior%20Management%20Statement) The company's Board of Directors, Supervisory Board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, assuming legal responsibility - The company's Board of Directors, Supervisory Board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, assuming individual and joint legal responsibility[3](index=3&type=chunk) - Company head Song Xiushan, chief accountant, and head of accounting department Zhang Jingang declare that the financial report in the semi-annual report is true, accurate, and complete[5](index=5&type=chunk) [Profit Distribution Plan](index=2&type=section&id=Profit%20Distribution%20Plan) The Board of Directors approved the 2025 semi-annual profit distribution plan, proposing a cash dividend of **1.60 yuan (tax inclusive) per 10 shares** to all shareholders, totaling **65.82 million yuan**, representing **29.89%** of net profit attributable to shareholders - The company plans to distribute a cash dividend of **1.60 yuan (tax inclusive) per 10 shares** to all shareholders[6](index=6&type=chunk) 2025 Semi-Annual Profit Distribution Plan | Indicator | Amount/Ratio | | :--- | :--- | | Cash dividend per 10 shares (tax inclusive) | 1.60 yuan | | Total proposed cash dividend (tax inclusive) | 65,823,050.56 yuan | | Percentage of net profit attributable to shareholders of the listed company | 29.89% | | Bonus shares | None | | Capital reserve to share capital conversion | None | - This profit distribution plan is subject to approval by the general meeting of shareholders[6](index=6&type=chunk) [Significant Risk Warning](index=2&type=section&id=Significant%20Risk%20Warning) The company has detailed potential risks in Section III "Management Discussion and Analysis," Subsection V "Other Disclosure Matters," advising investors to pay attention - The company has described potential risks in this report, and investors are advised to refer to Section III "Management Discussion and Analysis," Subsection V "Other Disclosure Matters," (I) "Potential Risks"[8](index=8&type=chunk) [Section I Definitions](index=4&type=section&id=Section%20I%20Definitions) [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This section provides definitions for common terms used in the report, including company names, related party names, and laws and regulations, to ensure accurate understanding of the report content - This section defines common terms used in the report, such as "Company," "Weigao Group," "Weigao Co.," and relevant laws and regulations[13](index=13&type=chunk) [Section II Company Profile and Key Financial Indicators](index=4&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) [Company Information](index=4&type=section&id=Company%20Information) This section outlines the company's basic registration information, including its Chinese name, abbreviation, foreign name and its abbreviation, and legal representative - The company's Chinese name is Shandong Weigao Blood Purification Products Co., Ltd., abbreviated as Weigao Blood Purification, and its legal representative is Song Xiushan[15](index=15&type=chunk) [Contact Person and Information](index=4&type=section&id=Contact%20Person%20and%20Information) This section provides the contact information for the company's Board Secretary and Securities Affairs Representative, including name, address, telephone, fax, and email - The company's Board Secretary and Securities Affairs Representative is Wang Tingting, with contact address at No. 7 Weigao West Road, Weihai Torch High-tech Industrial Development Zone, telephone 0631-5716143, and email ir@wego-healthcare.com[16](index=16&type=chunk)[17](index=17&type=chunk) [Brief Introduction to Changes in Basic Information](index=5&type=section&id=Brief%20Introduction%20to%20Changes%20in%20Basic%20Information) This section describes the historical changes in the company's registered address and confirms its current registered and office address - The company's registered address changed to No. 7 Weigao West Road, Weihai Torch High-tech Industrial Development Zone on May 11, 2023, which is consistent with its office address[18](index=18&type=chunk) [Information Disclosure and Document Availability](index=5&type=section&id=Information%20Disclosure%20and%20Document%20Availability) This section specifies the newspapers selected by the company for information disclosure, the website address for publishing semi-annual reports, and the location where the company's semi-annual reports are available - The newspapers selected by the company for information disclosure include "China Securities Journal" and "Shanghai Securities News," the report is published on http://www.sse.com.cn/, and is available at the company's Securities Affairs Department[19](index=19&type=chunk) [Company Stock Overview](index=5&type=section&id=Company%20Stock%20Overview) This section provides basic information about the company's stock, including stock type, listing exchange, stock abbreviation, and stock code - The company's A-shares are listed on the Shanghai Stock Exchange, with stock abbreviation Weigao Blood Purification and stock code 603014[20](index=20&type=chunk) [Key Accounting Data and Financial Indicators](index=5&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) In the first half of 2025, the company's operating revenue increased by **8.52%** to **1.76 billion yuan**, and net profit attributable to shareholders increased by **10.11%** to **220.24 million yuan**; net cash flow from operating activities significantly increased by **102.18%**, mainly due to reduced cash payments for goods and services 2025 First Half Key Accounting Data | Key Accounting Data | Current Period (Jan-Jun) | Prior Year Period | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Operating revenue | 1,764,680,364.12 yuan | 1,626,059,280.30 yuan | 8.52 | | Total profit | 264,162,482.38 yuan | 238,227,294.47 yuan | 10.89 | | Net profit attributable to shareholders of the listed company | 220,237,350.87 yuan | 200,013,372.58 yuan | 10.11 | | Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses | 214,612,844.34 yuan | 195,742,434.83 yuan | 9.64 | | Net cash flow from operating activities | 188,851,952.41 yuan | 93,405,944.19 yuan | 102.18 | 2025 First Half Key Financial Indicators | Key Financial Indicators | Current Period (Jan-Jun) | Prior Year Period | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Basic earnings per share (yuan/share) | 0.58 | 0.54 | 7.41 | | Diluted earnings per share (yuan/share) | 0.58 | 0.54 | 7.41 | | Basic earnings per share after deducting non-recurring gains and losses (yuan/share) | 0.57 | 0.53 | 7.55 | | Weighted average return on net assets (%) | 3.75 | 3.82 | Decrease of 0.07 percentage points | | Weighted average return on net assets after deducting non-recurring gains and losses (%) | 3.66 | 3.74 | Decrease of 0.08 percentage points | - Net cash flow from operating activities increased by **102.18%** compared to the prior year period, mainly due to a decrease in cash paid for goods and services in the current period[24](index=24&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses for this reporting period totaled **5.62 million yuan**, with a significant reversal of impairment provisions for individually tested receivables, and the reversal and re-provision of expected credit losses on financial guarantee contracts recognized as non-recurring gains and losses 2025 First Half Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -271,489.63 | | Government grants recognized in current profit or loss | 988,811.36 | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises | 6,828,918.46 | | Reversal of impairment provisions for individually tested receivables | 67,913,428.34 | | Other non-operating income and expenses | -3,195,566.03 | | Other gains and losses meeting the definition of non-recurring gains and losses | -65,958,644.44 | | Less: Income tax impact | -680,951.53 | | Total | 5,624,506.53 | - The company classifies the reversal and re-provision of expected credit losses on financial guarantee contracts as non-recurring gains and losses due to their special and incidental nature, which does not affect the company's guarantee risk exposure or recurring profit and loss[27](index=27&type=chunk) [Net Profit After Deducting Share-Based Payment Impact](index=7&type=section&id=Net%20Profit%20After%20Deducting%20Share-Based%20Payment%20Impact) The net profit after deducting the impact of share-based payments for this reporting period was **223.03 million yuan**, an increase of **8.04%** compared to the prior year period Net Profit After Deducting Share-Based Payment Impact | Key Accounting Data | Current Period (Jan-Jun) | Prior Year Period | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Net profit after deducting share-based payment impact | 223,026,530.73 yuan | 206,434,480.22 yuan | 8.04 | [Section III Management Discussion and Analysis](index=8&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) [Industry and Main Business Overview](index=8&type=section&id=Industry%20and%20Main%20Business%20Overview) The company specializes in the R&D, production, and sales of blood purification medical products, belonging to the medical instrument and equipment manufacturing industry, driven by policy support, an aging population, and increased medical insurance coverage, leading to a continuous rise in ESRD patient treatment penetration; volume-based procurement policies accelerate industry consolidation, and technological upgrades drive product iteration; the company has a rich product line, masters core membrane manufacturing technology, and its sales network covers over 6,000 medical institutions nationwide, primarily through distribution with supplementary direct sales [Industry Overview](index=8&type=section&id=Industry%20Overview) The blood purification industry, where the company operates, is a knowledge-intensive, capital-intensive, and multidisciplinary component of healthcare; government policy support, an aging population, and enhanced medical insurance payment capabilities drive market expansion, with continuous improvement in ESRD patient treatment penetration; volume-based procurement policies accelerate industry concentration, and technological upgrades promote the iteration of blood purification medical products, enhancing patient safety - The company belongs to the medical instrument and equipment manufacturing sector within specialized equipment manufacturing (CG35), and the blood purification industry is characterized by being knowledge-intensive, capital-intensive, and multidisciplinary[31](index=31&type=chunk)[32](index=32&type=chunk) - The treatment penetration rate for ESRD patients continues to increase, with blood dialysis and peritoneal dialysis treatment rates in China projected to grow to **54.29%** and **7.53%** respectively by 2030[33](index=33&type=chunk) - Volume-based procurement policies enhance industry concentration, prompting enterprises to refocus on product R&D, and leading enterprises are expected to further increase their market share[34](index=34&type=chunk) - Technological upgrades drive the iteration of blood purification medical products, primarily focusing on improving ultrafiltration rates, enhancing the removal performance of medium and large molecular toxins, and refining sterilization methods to improve product safety[35](index=35&type=chunk)[36](index=36&type=chunk) [Company Business Overview](index=9&type=section&id=Company%20Business%20Overview) The company's main business is the R&D, production, and sales of blood purification medical products, offering a rich product line including hemodialyzers, bloodlines, hemodialysis machines, and peritoneal dialysis solutions; the company masters key membrane manufacturing technology for hemodialyzers, with product performance reaching industry-leading levels, and its sales network covers over 6,000 medical institutions nationwide, operating primarily through distribution with supplementary direct sales - The company's main business is the research, development, production, and sales of blood purification medical products, primarily including hemodialyzers, bloodlines, hemodialysis machines, and peritoneal dialysis solutions[37](index=37&type=chunk) - The company masters key membrane manufacturing technology and production processes for hemodialyzers, with independently developed product performance approaching or exceeding mainstream products from leading foreign manufacturers[37](index=37&type=chunk) - As of the end of the reporting period, the company holds **16 Class III medical device product registration certificates**, with sales covering **31 provinces, municipalities, and autonomous regions** nationwide, serving over **6,000 medical institutions**[37](index=37&type=chunk) - The company's sales model combines direct sales and distribution, with distribution as the primary method and direct sales as supplementary, and its distribution network is gradually expanding overseas[40](index=40&type=chunk)[41](index=41&type=chunk) [Discussion and Analysis of Operations](index=10&type=section&id=Discussion%20and%20Analysis%20of%20Operations) In the first half of 2025, the company's operating revenue and net profit attributable to shareholders both achieved steady growth, reaching **1.76 billion yuan** and **220.24 million yuan** respectively; the company continuously improved compliance management, process governance, and digital transformation, with R&D investment of **70.18 million yuan**, obtaining **9 new invention patents**, and actively expanding domestic and international markets; the company prioritizes investor returns and utilized **978 million yuan** in raised funds for intelligent manufacturing, R&D centers, and other projects to expand business scale and enhance competitiveness [Overall Operating Performance](index=10&type=section&id=Overall%20Operating%20Performance) In the first half of 2025, the company's operating revenue increased by **8.52%** to **1.76 billion yuan**, net profit attributable to shareholders increased by **10.11%** to **220.24 million yuan**, and net profit after deducting non-recurring gains and losses increased by **9.64%** to **214.61 million yuan** 2025 First Half Overall Operating Data | Indicator | Amount (ten thousand yuan) | Year-on-year growth (%) | | :--- | :--- | :--- | | Operating revenue | 176,468.04 | 8.52 | | Net profit attributable to shareholders of the listed company | 22,023.74 | 10.11 | | Net profit attributable to parent company owners after deducting non-recurring gains and losses | 21,461.28 | 9.64 | [Management Enhancement](index=10&type=section&id=Management%20Enhancement) The company continuously optimizes its compliance management system, improves its multi-level governance structure, and actively conducts compliance, internal control, and risk management; simultaneously, it establishes a full business chain management system by streamlining business processes and steadily advances digital transformation to drive model changes with data, enhancing management efficiency and decision-making capabilities - The company continuously promotes the iteration and optimization of its compliance management system, improving its multi-level governance structure and establishing sound systems for the general meeting of shareholders, Board of Directors, and Supervisory Board[43](index=43&type=chunk) - The company highly values process governance, establishing a process management system covering the entire business chain, including strategic planning, investment decisions, production operations, and risk control[43](index=43&type=chunk) - The company steadily advances digital transformation, exploring a "process-driven to data-driven model change" to achieve digital application across the entire scope[44](index=44&type=chunk) [R&D and Product Line Expansion](index=11&type=section&id=R%26D%20and%20Product%20Line%20Expansion) The company continues to increase R&D investment, with R&D expenses reaching **70.18 million yuan** in this reporting period, accounting for **3.98%** of operating revenue, and obtaining **9 new invention patents** and **35 utility model patents**; through technological innovation and equipment upgrades, the company continuously develops high-performance hemodialyzers and other blood purification medical products to consolidate its market position and accelerate import substitution 2025 First Half R&D Investment | Indicator | Amount/Ratio | | :--- | :--- | | R&D expenses | 7,017.87 ten thousand yuan | | Percentage of current operating revenue | 3.98% | | New invention patents granted | 9 | | New utility model patents granted | 35 | - The company adheres to technology-driven innovation, breaks through technical barriers, innovatively upgrades core production modules, and continuously develops high-tech, high-value-added, and high-quality products[45](index=45&type=chunk) - The company continuously conducts R&D for new high-performance hemodialyzers and other blood purification medical products, enriching its product pipeline and accelerating the import substitution process for blood dialysis consumables in China[45](index=45&type=chunk) [Market Expansion](index=11&type=section&id=Market%20Expansion) The company expands its market through a dual-driven strategy of "stabilizing existing business and expanding new business"; it deepens its existing market by strengthening strategic cooperation with customers, optimizing the supply chain, and improving service response speed; it develops new markets by establishing a specialized international marketing team and promoting a national brand internationalization strategy, aiming to become a global leading provider of comprehensive blood purification solutions - The company focuses on the core track of its main blood purification business, advancing its market expansion strategic layout through a dual-driven strategy of "stabilizing existing business and expanding new business"[46](index=46&type=chunk) - It deepens its existing market by optimizing the supply chain system and improving service response speed to consolidate sales channel stability and end-user loyalty[46](index=46&type=chunk) - It expands new markets by establishing a specialized international marketing team, strengthening brand building and market promotion, steadily moving towards the strategic vision of "becoming a global leading provider of comprehensive blood purification solutions"[46](index=46&type=chunk) [Investor Rights Protection](index=11&type=section&id=Investor%20Rights%20Protection) The company's main business development is stable, with strong profitability, providing a solid foundation for shareholder returns; the Board of Directors will strictly implement the profit distribution policy, focusing on reasonable returns to shareholders while considering the company's sustainable development, maintaining the continuity and stability of the profit distribution policy - The company's main business development is stable, with strong profitability, providing a solid foundation for achieving shareholder return plans[47](index=47&type=chunk) - The company's Board of Directors will strictly implement the profit distribution policy in accordance with regulations, focusing on reasonable returns to shareholders while considering the company's sustainable development, maintaining the continuity and stability of the policy[47](index=47&type=chunk) [Investment and Financing](index=11&type=section&id=Investment%20and%20Financing) The company's net proceeds from its public offering amounted to **978 million yuan**, which will primarily be invested in intelligent manufacturing, dialyzer production, R&D centers, and digital information technology platforms; these investments aim to expand business scale, enhance R&D capabilities and intelligent manufacturing levels, thereby strengthening the company's core competitiveness and implementing its operating strategy Proceeds from Public Offering Investment Direction | Indicator | Amount | | :--- | :--- | | Net proceeds from public offering | 978 million yuan | | Main investment directions | Weigao Blood Purification Intelligent Manufacturing Project, Dialyzer (Ganzhou) Production Project, Weigao New Blood Purification High-Performance Consumables and Equipment R&D Center Project, Weigao Blood Purification Digital Information Technology Platform Project, etc | - Upon completion, the raised fund investment projects will expand the company's business scale, enhance R&D capabilities and intelligent manufacturing levels, contributing to the improvement of the company's core competitiveness and the implementation of its operating strategy[49](index=49&type=chunk) [Analysis of Core Competitiveness](index=12&type=section&id=Analysis%20of%20Core%20Competitiveness) As one of the domestic manufacturers with the most comprehensive product lines in blood purification medical products, the company's core competitiveness lies in its leading technological advantages, solid engineering capabilities, a biomedical membrane technology platform with multi-field R&D transformation potential, advanced production capabilities, a stringent quality system, and a deeply covered sales network; no significant changes occurred in the company's core competitiveness during the reporting period - The company's core competitiveness includes leading technological advantages, solid engineering capabilities, and a biomedical membrane technology platform with multi-field R&D transformation potential[50](index=50&type=chunk) - The company relies on advanced production capabilities and a stringent quality system, complemented by a deeply covered and multi-dimensional sales network, to collectively build its core competitiveness[50](index=50&type=chunk) - No significant changes occurred in the company's core competitiveness during the reporting period[50](index=50&type=chunk) [Key Operating Performance](index=12&type=section&id=Key%20Operating%20Performance) In this reporting period, the company's operating revenue increased by **8.52%**, and operating cost increased by **12.31%**; net cash flow from operating activities significantly increased by **102.18%**, mainly due to reduced cash payments for goods and services; total assets increased by **16.11%**, and net assets attributable to shareholders of the listed company increased by **21.45%**, primarily influenced by the proceeds from the initial public offering; long-term equity investment balance increased by **7.72%** [Analysis of Main Business](index=12&type=section&id=Analysis%20of%20Main%20Business) Current period operating revenue increased by **8.52%**, and operating cost increased by **12.31%**; selling expenses slightly decreased, while R&D expenses decreased by **13.40%**; net cash flow from operating activities significantly increased by **102.18%**, mainly due to a decrease in cash paid for goods and services Major Financial Statement Item Changes | Item | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating revenue | 1,764,680,364.12 | 1,626,059,280.30 | 8.52 | | Operating cost | 1,039,385,001.73 | 925,483,026.14 | 12.31 | | Selling expenses | 292,882,038.34 | 299,296,069.23 | -2.14 | | Administrative expenses | 87,887,839.91 | 82,874,703.69 | 6.05 | | Financial expenses | -1,471,513.19 | -3,317,231.21 | Not applicable | | Research and development expenses | 70,178,671.88 | 81,037,638.13 | -13.40 | | Net cash flow from operating activities | 188,851,952.41 | 93,405,944.19 | 102.18 | | Net cash flow from investing activities | -599,104,180.56 | -182,787,061.18 | Not applicable | | Net cash flow from financing activities | 987,626,709.03 | -8,237,521.73 | Not applicable | - Net cash flow from operating activities increased by **102.18%** compared to the prior year period, mainly due to a decrease in cash paid for goods and services in the current period[52](index=52&type=chunk) - Net cash flow from financing activities significantly increased, mainly due to proceeds from the initial public offering[52](index=52&type=chunk) [Analysis of Assets and Liabilities](index=13&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's total assets reached **8.12 billion yuan**, an increase of **16.11%** from the end of the prior year; net assets attributable to shareholders of the listed company increased by **21.45%** to **6.80 billion yuan**, primarily influenced by the proceeds from the initial public offering; monetary funds significantly increased by **68.95%**, while short-term borrowings and lease liabilities significantly decreased Asset and Liability Status Changes | Item Name | Current Period End Amount (yuan) | Current Period End Percentage of Total Assets (%) | Prior Year End Amount (yuan) | Prior Year End Percentage of Total Assets (%) | Change from Prior Year End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary funds | 1,382,197,732.66 | 17.03 | 818,086,750.60 | 11.70 | 68.95 | | Net assets attributable to shareholders of the listed company | 6,797,540,744.88 | - | 5,596,777,565.36 | - | 21.45 | | Total assets | 8,116,417,542.53 | 100.00 | 6,990,147,090.52 | 100.00 | 16.11 | | Short-term borrowings | 1,037,000.00 | 0.01 | 3,177,000.00 | 0.05 | -67.36 | | Lease liabilities | 450,369.87 | 0.01 | 2,645,974.63 | 0.04 | -82.98 | - Monetary funds significantly increased by **68.95%**, mainly due to proceeds from the initial public offering[54](index=54&type=chunk) - Overseas assets amounted to **72.44 million yuan**, accounting for **0.89%** of total assets[55](index=55&type=chunk) [Analysis of Investment Status](index=14&type=section&id=Analysis%20of%20Investment%20Status) At the end of the reporting period, the company's consolidated financial statements showed a long-term equity investment balance of **153.89 million yuan**, an increase of **11.03 million yuan** or **7.72%** from the end of the prior year; the fair value of financial assets measured at fair value at the end of the period was **966 million yuan**, primarily consisting of bank wealth management products and accounts receivable financing Long-Term Equity Investment Changes | Indicator | Period-end Balance (ten thousand yuan) | Prior Year-end Balance (ten thousand yuan) | Change Amount (ten thousand yuan) | Change Percentage (%) | | :--- | :--- | :--- | :--- | :--- | | Long-term equity investment balance | 15,388.63 | 14,286.07 | 1,102.56 | 7.72 | Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (yuan) | Amount Purchased in Current Period (yuan) | Amount Sold/Redeemed in Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | | Bank wealth management products | 330,133,382.45 | 2,862,590,000.00 | 2,292,910,000.00 | 900,492,054.58 | | Accounts receivable financing | 27,426,910.64 | 64,267,015.11 | 25,941,433.99 | 65,571,905.23 | | Total | 357,560,293.09 | 2,926,857,015.11 | 2,318,851,433.99 | 966,063,959.81 | [Analysis of Major Holding and Participating Companies](index=16&type=section&id=Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section lists the company's major subsidiaries and their operating performance, including Weigao Peritoneal Dialysis Technology (Weihai) Co., Ltd., Weigao Blood Purification Products (Shanghai) Co., Ltd., and Weigao Blood Purification (Chengdu) Co., Ltd Major Subsidiary Financial Data (ten thousand yuan) | Company Name | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Weigao Peritoneal Dialysis Technology (Weihai) Co., Ltd. | Peritoneal dialysis product sales | 10,000.00 | 9,814.42 | -9,431.62 | 14,207.95 | 242.27 | 242.42 | | Weigao Blood Purification Products (Shanghai) Co., Ltd. | Sales of blood purification consumables and equipment | 8,000.00 | 79,408.18 | 22,224.02 | 89,206.25 | 165.67 | -106.53 | | Weigao Blood Purification (Chengdu) Co., Ltd. | Production and sales of blood purification consumables | 30,000.00 | 92,761.26 | 30,678.17 | 11,591.29 | 1,032.11 | 200.05 | [Other Disclosure Matters](index=16&type=section&id=Other%20Disclosure%20Matters) The company faces risks such as intensified market competition, being listed in the dishonest medical pricing and procurement directory, the impact of volume-based procurement policies, technological R&D risks, and reliance on overseas procurement for some key raw materials; the company actively addresses these risks through technological R&D, credit management, market penetration, scientific project initiation, and strategic reserves [Potential Risks](index=16&type=section&id=Potential%20Risks) The company faces risks such as intensified market competition, being listed in the dishonest medical pricing and procurement directory, the adverse impact of volume-based procurement policies on operating performance, technological R&D risks, and reliance on overseas procurement for some key raw materials; the company actively addresses these risks through technological R&D, credit management, market penetration, scientific project initiation, and strategic reserves - Intensified market competition risk: The company faces competition from other domestic and foreign manufacturers and needs to maintain its competitive advantage through continuous technological R&D and responsiveness to customer needs[60](index=60&type=chunk) - Medical pricing and procurement dishonesty risk: If acts contrary to good faith occur, the company may be listed in the dishonest directory; the company will strengthen credit management and internal communication to prevent such risks[62](index=62&type=chunk) - Volume-based procurement policy risk: Volume-based procurement may lead to product price reductions; the company will counteract adverse effects through sales channel and product structure adjustments, market penetration, and other measures[63](index=63&type=chunk) - Technological R&D risk: Misjudgment of technology direction, product R&D direction, or market trends, or if new technologies do not mature as expected, will adversely affect business; the company will continuously monitor market demand and improve its R&D system[64](index=64&type=chunk) - Raw material overseas procurement risk: Some key raw materials rely on overseas procurement, which may lead to delayed delivery, supply restrictions, or price increases due to international situations; the company has formulated scientific procurement strategies and strategic reserves to respond[65](index=65&type=chunk)[66](index=66&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=19&type=section&id=Section%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) [Profit Distribution or Capital Reserve Conversion Plan](index=19&type=section&id=Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The company proposes to distribute a cash dividend of **1.60 yuan (tax inclusive) per 10 shares** to all shareholders, totaling **65.82 million yuan**, representing **29.89%** of the net profit attributable to shareholders of the listed company in the consolidated financial statements Semi-Annual Profit Distribution Plan | Indicator | Value | | :--- | :--- | | Whether to distribute or convert | Yes | | Dividend per 10 shares (yuan) (tax inclusive) | 1.60 | | Total proposed cash dividend (tax inclusive) | 65,823,050.56 yuan | | Percentage of net profit attributable to shareholders of the listed company | 29.89% | [Environmental Information Disclosure](index=19&type=section&id=Environmental%20Information%20Disclosure) The company has been included in the list of enterprises required to disclose environmental information by law and has disclosed relevant reports in the Enterprise Environmental Information Disclosure System (Shandong) Environmental Information Disclosure Enterprise List | Indicator | Value | | :--- | :--- | | Number of enterprises included in the list of enterprises required to disclose environmental information by law (units) | 1 | | Enterprise Name | Shandong Weigao Blood Purification Products Co., Ltd. | | Query index for environmental information disclosure report | Enterprise Environmental Information Disclosure System (Shandong) | [Section V Significant Matters](index=21&type=section&id=Section%20V%20Significant%20Matters) [Fulfillment of Commitments](index=21&type=section&id=Fulfillment%20of%20Commitments) The company's actual controller, controlling shareholder, other shareholders, and directors, supervisors, and senior management have strictly fulfilled all commitments made during the initial public offering, including share lock-up, extended lock-up period for performance decline, share price stabilization measures, prior compensation, share repurchase, share repurchase for fraudulent issuance, measures to offset dilution of immediate returns, profit distribution policy, legal liability for compensation, avoidance of horizontal competition, and restrictive measures for non-fulfillment of commitments - The company's actual controller, controlling shareholder, other shareholders, and directors, supervisors, and senior management have strictly fulfilled their share lock-up commitments made during the initial public offering in the reporting period[73](index=73&type=chunk)[75](index=75&type=chunk)[77](index=77&type=chunk)[79](index=79&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk)[83](index=83&type=chunk) - Controlling shareholder Weigao Group and actual controller Chen Xueli have strictly fulfilled their commitment to extend the lock-up period after performance decline in the reporting period[73](index=73&type=chunk)[85](index=85&type=chunk) - The company, controlling shareholder, actual controller, and directors, supervisors, and senior management have strictly fulfilled their measures and commitments to stabilize share price in the reporting period[73](index=73&type=chunk)[86](index=86&type=chunk)[93](index=93&type=chunk) - The company, controlling shareholder, actual controller, and directors, supervisors, and senior management have strictly fulfilled their measures and commitments regarding share repurchase and share buyback in the reporting period[73](index=73&type=chunk)[95](index=95&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk) - Controlling shareholder, actual controller, and Weigao Pharmaceutical have strictly fulfilled their commitment to avoid horizontal competition in the reporting period[74](index=74&type=chunk)[107](index=107&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk)[110](index=110&type=chunk)[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) [Significant Contracts and Their Performance](index=45&type=section&id=Significant%20Contracts%20and%20Their%20Performance) During the reporting period, the company provided joint liability guarantees for its joint venture, Weigao Terumo (Weihai) Medical Products Co., Ltd., totaling **183.74 million yuan**, with a guarantee balance of **125.29 million yuan** at the end of the reporting period, accounting for **1.84%** of the company's net assets Company External Guarantees (excluding guarantees to subsidiaries) | Guaranteed Party | Guarantee Amount (yuan) | Guarantee Start Date | Guarantee End Date | Has the Guarantee Been Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Weigao Terumo (Weihai) Medical Products Co., Ltd. | 21,532,553.56 | 2023/6/26 | 2026/6/26 | No | | Weigao Terumo (Weihai) Medical Products Co., Ltd. | 4,000,000.00 | 2024/2/20 | 2025/2/20 | Yes | | ... (partial listing) | ... | ... | ... | ... | | Total guarantee amount incurred in the reporting period | 65,958,644.44 | | | | | Total guarantee balance at the end of the reporting period (A) | 125,291,883.44 | | | | | Total guarantee amount as a percentage of the company's net assets (%) | 1.84 | | | | - The company provided joint liability guarantees for its joint venture, Weigao Terumo (Weihai) Medical Products Co., Ltd., with a guarantee balance of **125.29 million yuan** at the end of the reporting period[136](index=136&type=chunk)[390](index=390&type=chunk)[491](index=491&type=chunk) [Explanation of Progress in Use of Raised Funds](index=49&type=section&id=Explanation%20of%20Progress%20in%20Use%20of%20Raised%20Funds) The company's net proceeds from its initial public offering amounted to **977.89 million yuan**, with a cumulative investment of **274.52 million yuan** as of the end of the reporting period, representing an investment progress of **28.07%**; the raised funds are primarily invested in intelligent manufacturing, dialyzer production, R&D centers, and digital information technology platforms, with partial prior investments already replaced; the company also utilized idle raised funds for cash management, with an ending balance of **204 million yuan** [Overall Use of Raised Funds](index=49&type=section&id=Overall%20Use%20of%20Raised%20Funds) The company's net proceeds from its initial public offering amounted to **977.89 million yuan**, with a cumulative investment of **274.52 million yuan** as of the end of the reporting period, representing an investment progress of **28.07%** Overall Use of Raised Funds | Indicator | Amount (ten thousand yuan) | | :--- | :--- | | Net proceeds from public offering | 97,789.11 | | Total cumulative raised funds invested as of the end of the reporting period | 27,451.99 | | Cumulative investment progress as of the end of the reporting period (%) | 28.07 | [Details of Raised Fund Investment Projects](index=49&type=section&id=Details%20of%20Raised%20Fund%20Investment%20Projects) Raised fund investment projects include the Weigao Blood Purification Intelligent Manufacturing Project, Dialyzer (Ganzhou) Production Project, Weigao New Blood Purification High-Performance Consumables and Equipment R&D Center Project, Weigao Blood Purification Digital Information Technology Platform Project, and a supplementary working capital project; among these, the Dialyzer (Ganzhou) Production Project has the fastest investment progress, reaching **89.44%** Details of Raised Fund Investment Projects (ten thousand yuan) | Project Name | Planned Total Investment of Raised Funds | Cumulative Raised Funds Invested as of the End of the Reporting Period | Cumulative Investment Progress as of the End of the Reporting Period (%) | | :--- | :--- | :--- | :--- | | Weigao Blood Purification Intelligent Manufacturing Project | 24,754.90 | 7,680.37 | 31.03 | | Dialyzer (Ganzhou) Production Project | 17,000.00 | 15,204.10 | 89.44 | | Weigao New Blood Purification High-Performance Consumables and Equipment R&D Center Project | 20,629.09 | 800.38 | 3.88 | | Weigao Blood Purification Digital Information Technology Platform Project | 7,093.51 | 612.02 | 8.63 | | Supplementary Working Capital Project | 28,311.61 | 3,155.13 | 11.14 | | Total | 97,789.11 | 27,451.99 | - | [Other Information on the Use of Raised Funds](index=52&type=section&id=Other%20Information%20on%20the%20Use%20of%20Raised%20Funds) The company has completed the replacement of prior investments made with raised funds, totaling **240.11 million yuan**; additionally, the company utilized idle raised funds for cash management, with an ending cash management balance of **204 million yuan** Raised Funds Prior Investment and Replacement Status (ten thousand yuan) | Project Name | Planned Total Investment of Raised Funds | Amount Replaced | | :--- | :--- | :--- | | Weigao Blood Purification Intelligent Manufacturing Project | 24,754.90 | 7,675.47 | | Dialyzer (Ganzhou) Production Project | 17,000.00 | 14,951.09 | | Weigao New Blood Purification High-Performance Consumables and Equipment R&D Center Project | 20,629.09 | 786.90 | | Weigao Blood Purification Digital Information Technology Platform Project | 7,093.51 | 597.28 | | Supplementary Working Capital Project | 28,311.61 | - | | Total | 97,789.11 | 24,010.74 | Idle Raised Funds Cash Management Status (ten thousand yuan) | Maximum Balance for Cash Management of Raised Funds | Cash Management Balance at End of Reporting Period | | :--- | :--- | | 74,000 | 20,400 | [Section VI Share Changes and Shareholder Information](index=53&type=section&id=Section%20VI%20Share%20Changes%20and%20Shareholder%20Information) [Changes in Share Capital](index=53&type=section&id=Changes%20in%20Share%20Capital) The company's total share capital increased from **370.25 million shares** to **411.39 million shares**, a growth of **11.11%**, primarily due to the initial public offering of **41.14 million A-shares**; restricted shares account for **90.74%** of the total share capital, while unrestricted tradable shares account for **9.26%** Share Changes | Share Category | Number of Shares Before This Change | Increase/Decrease in This Change (+, -) Subtotal (shares) | Number of Shares After This Change | Percentage After This Change (%) | | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 370,254,659 | 3,026,820 | 373,281,479 | 90.74 | | II. Unrestricted Tradable Shares | 0 | 38,112,587 | 38,112,587 | 9.26 | | III. Total Shares | 370,254,659 | 41,139,407 | 411,394,066 | 100 | - The company's total share capital increased from **370,254,659 shares** to **411,394,066 shares**, and its registered capital increased from **370.25 million yuan** to **411.39 million yuan**, mainly due to the initial public offering of **41,139,407 A-shares**[149](index=149&type=chunk)[150](index=150&type=chunk) - Some foreign shareholders' holdings were included in an unconfirmed special account due to a lengthy account opening and verification process[150](index=150&type=chunk) [Shareholder Information](index=56&type=section&id=Shareholder%20Information) As of the end of the reporting period, the company had **31,401 common shareholders**; among the top ten shareholders, Weigao Group Co., Ltd. and its related parties held a high combined stake, with Weigao Group Co., Ltd. holding **41.75%** and Shandong Weigao Group Medical Polymer Products Co., Ltd. holding **23.90%**; restricted shareholders primarily consist of shares restricted prior to the initial public offering Total Number of Common Shareholders as of the End of the Reporting Period | Indicator | Quantity | | :--- | :--- | | Total number of common shareholders (households) | 31,401 | Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period-End (shares) | Percentage (%) | Number of Restricted Shares Held (shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Weigao Group Co., Ltd. | 171,755,909 | 41.75 | 171,755,909 | Domestic Non-State-Owned Legal Person | | Shandong Weigao Group Medical Polymer Products Co., Ltd. | 98,304,745 | 23.90 | 98,304,745 | Domestic Non-State-Owned Legal Person | | Weihai Kaide Information Technology Center (Limited Partnership) | 39,848,530 | 9.69 | 39,848,530 | Other | | Shandong Weigao Blood Purification Products Co., Ltd. Unconfirmed Holder Securities Special Account | 16,718,293 | 4.06 | 16,718,293 | Other | | Shanghai Huasheng Youge Equity Investment Management Co., Ltd. - Xiamen Huaxing Lingpei Venture Capital Partnership (Limited Partnership) | 5,193,713 | 1.26 | 5,193,713 | Other | | Shanghai Huasheng Youge Equity Investment Management Co., Ltd. - Tianjin Huaxing Zhikai Equity Investment Partnership (Limited Partnership) | 5,193,713 | 1.26 | 5,193,713 | Other | | Rosy Vigor Asia L.P. | 5,193,713 | 1.26 | 5,193,713 | Overseas Legal Person | | Jiaxing Chenyi Huihong Equity Investment Partnership (Limited Partnership) | 4,328,094 | 1.05 | 4,328,094 | Other | | Sunshine Life Insurance Co., Ltd. - Traditional Insurance Products | 4,328,094 | 1.05 | 4,328,094 | Other | | XJ Champion HK Limited | 4,328,094 | 1.05 | 4,328,094 | Overseas Legal Person | - Weigao Group Co., Ltd., Shandong Weigao Group Medical Polymer Products Co., Ltd., and Weihai Kaide Information Technology Center (Limited Partnership) are companies controlled by the company's actual controller, Chen Xueli[157](index=157&type=chunk) - The shareholdings and restriction conditions of the top ten restricted shareholders primarily involve a lock-up period of **12 or 36 months** from the listing date[160](index=160&type=chunk) [Section VII Bond-Related Information](index=60&type=section&id=Section%20VII%20Bond-Related%20Information) [Corporate Bonds and Non-Financial Enterprise Debt Financing Instruments](index=60&type=section&id=Corporate%20Bonds%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) There were no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments related matters for the company in this reporting period [Convertible Corporate Bonds](index=60&type=section&id=Convertible%20Corporate%20Bonds) There were no convertible corporate bonds related matters for the company in this reporting period [Section VIII Financial Report](index=61&type=section&id=Section%20VIII%20Financial%20Report) [Financial Statements](index=61&type=section&id=Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively reflecting the company's financial position, operating results, and cash flow - This section includes the consolidated balance sheet, parent company balance sheet, consolidated income statement, parent company income statement, consolidated cash flow statement, parent company cash flow statement, consolidated statement of changes in owners' equity, and parent company statement of changes in owners' equity[166](index=166&type=chunk)[167](index=167&type=chunk)[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk)[172](index=172&type=chunk)[173](index=173&type=chunk)[174](index=174&type=chunk)[175](index=175&type=chunk)[176](index=176&type=chunk)[177](index=177&type=chunk)[178](index=178&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk)[181](index=181&type=chunk)[182](index=182&type=chunk)[183](index=183&type=chunk)[184](index=184&type=chunk)[185](index=185&type=chunk)[186](index=186&type=chunk)[187](index=187&type=chunk)[188](index=188&type=chunk)[189](index=189&type=chunk)[190](index=190&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk) [Company Basic Information](index=77&type=section&id=Company%20Basic%20Information) The company, formerly Weihai Weigao Blood Purification Products Co., Ltd., was established on December 27, 2004, and restructured into a joint-stock company on December 22, 2020; it was listed on the Shanghai Stock Exchange on May 19, 2025, with stock code 603014; its parent company is Weigao Group Co., Ltd., and its actual controller is Chen Xueli - The company, formerly Weihai Weigao Blood Purification Products Co., Ltd., was established on December 27, 2004, and restructured into a joint-stock company on December 22, 2020[193](index=193&type=chunk) - The company was listed on the Shanghai Stock Exchange on May 19, 2025, with stock abbreviation "Weigao Blood Purification" and stock code "603014"[194](index=194&type=chunk) - The parent company is Weigao Group Co., Ltd., and the actual controller is Chen Xueli[194](index=194&type=chunk) [Basis for Preparation of Financial Statements](index=77&type=section&id=Basis%20for%20Preparation%20of%20Financial%20Statements) The company's financial statements are prepared on a going concern basis, confirming no significant matters affecting its ability to continue as a going concern for at least 12 months from the end of the reporting period - The company's financial statements are prepared on a going concern basis[195](index=195&type=chunk) - The company has no significant matters affecting its ability to continue as a going concern for at least 12 months from the end of this reporting period[196](index=196&type=chunk) [Significant Accounting Policies and Estimates](index=77&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's significant accounting policies and estimates used in preparing financial statements, including enterprise accounting standards, accounting period, operating cycle, functional currency, materiality criteria, business combinations, consolidated financial statements, joint arrangements, cash and cash equivalents, foreign currency transactions, financial instruments, notes receivable, accounts receivable, accounts receivable financing, other receivables, inventories, long-term equity investments, investment properties, fixed assets, construction in progress, borrowing costs, intangible assets, impairment of long-term assets, long-term deferred expenses, contract liabilities, employee compensation, provisions, share-based payments, revenue, government grants, deferred income tax assets/liabilities, and leases - The financial statements prepared by the company comply with the requirements of enterprise accounting standards and truly and completely reflect the company's financial position, operating results, changes in shareholders' equity, and cash flows[198](index=198&type=chunk) - The company uses a **12-month operating cycle** and its functional currency is **RMB**[200](index=200&type=chunk)[201](index=201&type=chunk) - Financial instruments are classified as financial assets measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss[213](index=213&type=chunk)[214](index=214&type=chunk)[215](index=215&type=chunk) - The company recognizes revenue when it satisfies its performance obligations in the contract, i.e., when the customer obtains control of the related goods or services[259](index=259&type=chunk) - Government grants are recognized when the conditions attached to them are met and they are received[263](index=263&type=chunk) [Taxation](index=94&type=section&id=Taxation) The company's main taxes include value-added tax, property tax, and corporate income tax, and it enjoys multiple tax incentives; the company is recognized as a high-tech enterprise, applying a **15% corporate income tax rate**; some subsidiaries enjoy small and micro enterprise income tax benefits, and the company also applies corporate income tax incentives for environmental protection specialized equipment, value-added tax additional deduction policies, and a **50% reduction** in urban land use tax Major Tax Categories and Rates | Tax Category | Tax Rate | | :--- | :--- | | Value-added tax | 13.00%, 9.00%, 6.00% | | Property tax | 1.20%, 12.00% | | Corporate income tax | 25.00%, 22.00%, 20.00%, 8.25% or 16.50%, 15.00% | | Urban maintenance and construction tax | 7.00%, 5.00% | | Education surcharge | 3.00% | | Local education surcharge | 2.00% | - The company is recognized as a high-tech enterprise and applies a **15% corporate income tax rate** in this reporting period[273](index=273&type=chunk) - Subsidiary Weigao Blood Purification (Shanghai) Medical Technology Development Co., Ltd. is a small and micro enterprise, applying a preferential policy of calculating taxable income at **25%** and paying corporate income tax at a **20%** rate[274](index=274&type=chunk) - The company applies corporate income tax incentives for environmental protection specialized equipment, a **13%** VAT export refund rate, a **50% reduction** in urban land use tax, and a **5%** additional VAT deduction for advanced manufacturing enterprises[275](index=275&type=chunk)[276](index=276&type=chunk) [Notes to Consolidated Financial Statement Items](index=96&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section details the period-end balances, beginning balances, and changes for each item in the consolidated financial statements, including monetary funds, financial assets held for trading, notes receivable, accounts receivable, accounts receivable financing, prepayments, other receivables, inventories, non-current assets due within one year, other current assets, long-term equity investments, investment properties, fixed assets, construction in progress, right-of-use assets, intangible assets, long-term deferred expenses, deferred income tax assets/liabilities, other non-current assets, assets with restricted ownership or use rights, short-term borrowings, notes payable, accounts payable, contract liabilities, employee compensation payable, taxes payable, other payables, non-current liabilities due within one year, other current liabilities, lease liabilities, deferred income, share capital, capital reserves, other comprehensive income, retained earnings, operating revenue and operating cost, taxes and surcharges, selling expenses, administrative expenses, R&D expenses, financial expenses, other income, investment income, fair value change gains, credit impairment losses, asset impairment losses, asset disposal gains, non-operating income, non-operating expenses, income tax expenses, cash flow statement items, and foreign currency monetary items Monetary Funds Composition (yuan) | Item | Ending Balance | Beginning Balance | | :--- | :--- | :--- | | Cash on hand | 113,577.79 | 67,130.82 | | Bank deposits | 1,374,739,317.41 | 795,959,361.05 | | Other monetary funds | 7,344,837.46 | 22,060,258.73 | | Total | 1,382,197,732.66 | 818,086,750.60 | Financial Assets Held for Trading (yuan) | Item | Ending Balance | Beginning Balance | | :--- | :--- | :--- | | Bank wealth management products | 900,492,054.58 | 330,133,382.45 | | Total | 900,492,054.58 | 330,133,382.45 | Accounts Receivable Aging Portfolio Bad Debt Provision (yuan) | Aging | Book Balance | Bad Debt Provision | Provision Rate (%) | | :--- | :--- | :--- | :--- | | Subtotal within 1 year | 800,278,640.46 | 22,491,883.78 | 2.81 | | 1 to 2 years | 135,643,429.39 | 29,312,545.09 | 21.61 | | 2 to 3 years | 32,864,351.54 | 27,711,221.22 | 84.32 | | Over 3 years | 36,670,140.85 | 36,670,140.85 | 100.00 | | Total | 1,005,456,562.24 | 116,185,790.94 | 11.56 | Inventory Classification (yuan) | Item | Book Balance | Inventory Impairment Provision | Book Value | | :--- | :--- | :--- | :--- | | Raw materials | 55,756,794.04 | - | 55,756,794.04 | | Work in progress | 42,498,501.26 | - | 42,498,501.26 | | Finished goods | 433,141,178.74 | 11,767,177.64 | 421,374,001.10 | | Revolving materials | 9,578,335.53 | - | 9,578,335.53 | | Goods in transit | 224,251,117.08 | 295,106.75 | 223,956,010.33 | | Consigned processing materials | 4,530,734.58 | - | 4,530,734.58 | | Total | 769,756,661.23 | 12,062,284.39 | 757,694,376.84 | Operating Revenue and Operating Cost (yuan) | Item | Current Period Revenue | Current Period Cost | Prior Period Revenue | Prior Period Cost | | :--- | :--- | :--- | :--- | :--- | | Main business | 1,723,166,177.97 | 1,010,925,295.62 | 1,591,547,417.51 | 899,829,974.11 | | Other business | 41,514,186.15 | 28,459,706.11 | 34,511,862.79 | 25,653,052.03 | | Total | 1,764,680,364.12 | 1,039,385,001.73 | 1,626,059,280.30 | 925,483,026.14 | [Research and Development Expenses](index=144&type=section&id=Research%20and%20Development%20Expenses) In this reporting period, the company's total R&D expenses amounted to **70.18 million yuan**, all of which were expensed, showing a decrease compared to the prior year period; major expenditures included employee compensation, consumption and testing fees, and depreciation and amortization expenses R&D Expenses by Nature of Expense (yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Employee compensation | 37,080,526.04 | 29,959,854.87 | | Consumption and testing fees | 21,015,818.65 | 31,244,379.90 | | Depreciation and amortization expenses | 6,822,880.94 | 8,491,240.24 | | Office expenses | 538,996.07 | 2,890,451.43 | | Share-based payment expenses | 314,545.02 | 789,583.65 | | Other | 4,405,905.16 | 7,662,128.04 | | Total | 70,178,671.88 | 81,037,638.13 | | Of which: Expensed R&D expenditures | 70,178,671.88 | 81,037,638.13 | | Capitalized R&D expenditures | - | - | [Interests in Other Entities](index=146&type=section&id=Interests%20in%20Other%20Entities) The company owns several wholly-owned or controlled subsidiaries primarily engaged in sales, production, and R&D; regarding joint ventures, the company holds a **51% equity stake** in Weigao Nikkiso (Weihai) Dialysis Machine Co., Ltd. and accounts for it using the equity method; additionally, the company has accumulated unrecognized excess losses in Weigao Terumo (Weihai) Medical Products Co., Ltd Composition of Enterprise Group (partial listing) | Subsidiary Name | Business Nature | Shareholding Ratio (%) Direct | | :--- | :--- | :--- | | Weigao Peritoneal Dialysis Technology (Weihai) Co., Ltd. | Sales | 100 | | Weigao Blood Purification Products (Shanghai) Co., Ltd. | Sales | 100 | | Weigao Blood Purification (Chengdu) Co., Ltd. | Production | 100 | | Shandong Akso Medical Technology Co., Ltd. | R&D | 90 | | WEGO HEALTHCARE (HK) LIMITED | Sales | 100 (indirect) | Important Joint Ventures or Associates | Joint Venture or Associate Name | Business Nature | Shareholding Ratio (%) Direct | Accounting Method | | :--- | :--- | :--- | :--- | | Weigao Nikkiso (Weihai) Dialysis Machine Co., Ltd. | Dialysis equipment production and sales | 51.00 | Equity method | Weigao Nikkiso (Weihai) Dialysis Machine Co., Ltd. Key Financial Information (yuan) | Item | Ending Balance/Current Period Amount | | :--- | :--- | | Total assets | 360,807,245.39 | | Total liabilities | 63,320,235.41 | | Equity attributable to parent company shareholders | 297,487,009.98 | | Net profit | 27,349,919.80 | Excess Losses Incurred by Joint Ventures (yuan) | Joint Venture or Associate Name | Accumulated Unrecognized Prior Period Losses | Unrecognized Losses in Current Period | Accumulated Unrecognized Losses at End of Current Period | | :--- | :--- | :--- | :--- | | Weigao Terumo (Weihai) Medical Products Co., Ltd. | -19,855,216.88 | 4,575,017.20 | -15,280,199.68 | [Government Grants](index=151&type=section&id=Government%20Grants) In this reporting period, the company received **5 million yuan** in government grants, recognized as deferred income, and **4.63 million yuan** in government grants recognized in current profit or loss, of which **4.61 million yuan** were asset-related government grants and **988,811.36 yuan** were income-related government grants Liability Items Involving Government Grants (yuan) | Liability Item | Beginning Balance | Current Period Increase | Current Period Decrease | Ending Balance | Grant Type | | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred income | 78,811,581.48 | 5,000,000.00 | 4,612,082.33 | 79,199,499.15 | Asset-related | | Deferred income | 155,000.00 | - | 17,793.79 | 137,206.21 | Income-related | | Total | 78,966,581.48 | 5,000,000.00 | 4,629,876.12 | 79,336,705.36 | - | Government Grants Recognized in Current Profit or Loss (yuan) | Type | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Asset-related | 4,612,082.33 | 5,590,351.38 | | Income-related | 988,811.36 | 5,533,390.77 | | Total | 5,600,893.69 | 11,123,742.15 | [Risks Related to Financial Instruments](index=152&type=section&id=Risks%20Related%20to%20Financial%20Instruments) The company faces credit risk, liquidity risk, and market risk (including interest rate risk and foreign exchange risk); the company manages these risks by transacting with reputable third parties, continuously monitoring accounts receivable, and diversifying investments and business portfolios; a significant increase in credit risk is determined by overdue days exceeding **30 days** or significant adverse changes in the operating environment, while credit impairment is defined by overdue days exceeding **90 days** or inability to fully recover contract amounts - The company faces credit risk, liquidity risk, and market risk (interest rate risk and foreign exchange risk)[459](index=459&type=chunk)[460](index=460&type=chunk)[464](index=464&type=chunk)[465](index=465&type=chunk)[466](index=466&type=chunk) - A significant increase in credit risk is determined by overdue days exceeding **30 days**, or significant adverse changes in the debtor's operating environment, credit rating, or operating results[462](index=462&type=chunk) - Assets with incurred credit impairment are defined by overdue days exceeding **90 days**, or internal/external information indicating the inability to fully recover contract amounts[463](index=463&type=chunk) Financial Asset Transfer Status (yuan) | Transfer Method | Nature of Transferred Financial Assets | Amount of Transferred Financial Assets | Derecognition Status | Basis for Derecognition Status | | :--- | :--- | :--- | :--- | :--- | | Bill endorsement | Notes receivable | 7,090,994.42 | Not derecognized | Retained almost all risks and rewards, including default risk | | Bill discounting | Accounts receivable financing | 1,037,000.00 | Not derecognized | Retained almost all risks and rewards, including default risk | | Bill endorsement/discounting | Accounts receivable financing | 80,141,314.49 | Derecognized | Transferred almost all risks and rewards | | Total | / | 88,269,308.91 | / | / | [Disclosure of Fair Value](index=155&type=section&id=Disclosure%20of%20Fair%20Value) The company's total assets measured at fair value at the end of the period amounted to **966.06 million yuan**, primarily comprising financial assets held for trading (bank wealth management products) and accounts receivable financing; financial assets held for trading are measured using Level 2 fair value, while accounts receivable financing is measured using Level 1 fair value; the company's finance department is responsible for formulating fair value measurement policies and procedures, and regularly analyzes and reviews changes in financial instrument values Fair Value of Assets and Liabilities Measured at Fair Value at Period-End (yuan) | Item | Level 1 Fair Value Measurement | Level 2 Fair Value Measurement | Level 3 Fair Value Measurement | Total | | :--- | :--- | :--- | :--- | :--- | | (I) Financial assets held for trading | - | 900,492,054.58 | - | 900,492,054.58 | | (VI) Accounts receivable financing | 65,571,905.23 | - | - | 65,571,905.23 | | Total assets continuously measured at fair value | 65,571,905.23 | 900,492,054.58 | - | 966,063,959.81 | - For listed equity instrument investments, fair value is determined by market quotations[476](index=476&type=chunk) - For bank wealth management products and accounts receivable financing, fair value is determined using the discounted cash flow method, with market yields of other financial instruments with similar contractual terms, credit risks, and remaining maturities as the discount rate[477](index=477&type=chunk) [Related Parties and Related Party Transactions](index=157&type=section&id=Related%20Parties%20and%20Related%20Party%20Transactions) The company's parent company is Weigao Group Co., Ltd., and its ultimate controlling party is Chen Xueli; the company engages in various related party transactions with numerous enterprises controlled or invested in by Weigao Group, as well as enterprises held by former employees, including purchasing and selling goods, providing and receiving labor services, related party leases, related party guarantees, and collecting/paying utility fees on behalf of others; during the reporting period, the company's total purchases of goods and services from related parties amounted to **433.92 million yuan**, and total sales of goods and provision of labor services to related parties amounted to **190.91 million yuan** Parent Company I

山东威高血液净化制品股份有限公司 目录 章程 | 第一章 总 则… | | --- | | 第二章 经营宗旨和范围 | | 第三章 股 份 | | 第一节 股份发行 . | | 第二节 股份增减和回购 . | | 第三节 股份转让 . | | 第四章 股东和股东会 . | | 第一节 股 东 | | 第二节 控股股东和实际控制人 . | | 第三节 股东会的一般规定 . | | 第四节 股东会的召集 . | | 第五节 股东会的提案与通知 | | 第六节 股东会的召开 . | | 第七节 股东会的表决和决议_________________________________________________________________________________________________________________ 21 | | 第五章 董事会 | | 第一节 董 事 | | 第二节 董事会 | | 第三节 独立董事 __________________________________________________________________________________________ ...