Financial Performance - Company reported a total revenue of 357 million yuan for the first half of 2025, representing a year-on-year increase of 28.72% [1] - Net profit attributable to shareholders reached 55.04 million yuan, up 20.28% year-on-year [1] - In Q2 2025, total revenue was 168 million yuan, showing a significant increase of 45.51% compared to the same quarter last year [1] - Gross margin improved to 47.71%, an increase of 9.55% year-on-year, while net margin decreased to 15.18%, down 5.17% [1] - Operating cash flow per share increased by 67.45% to 0.21 yuan [1] Accounts Receivable and Financial Ratios - Accounts receivable accounted for 157.22% of the latest annual net profit, indicating a large volume of receivables [1][4] - Total expenses (selling, administrative, and financial) amounted to 79.30 million yuan, representing 22.2% of revenue, a slight increase of 0.51% year-on-year [1] - Earnings per share rose to 0.17 yuan, reflecting a year-on-year increase of 20.29% [1] Market Position and Growth Drivers - Company is a leading domestic player in blood purification equipment, benefiting from technological advantages and strong brand recognition, which has driven steady growth in sales [2] - The market for blood purification equipment is expected to continue expanding due to the increasing number of end-stage renal disease (ESRD) patients in China, which grew from 3.025 million in 2019 to 4.126 million in 2023, with a compound growth rate of 8.1% [7] - The penetration rate of dialysis treatment in China is currently low at approximately 26%, indicating significant growth potential as policies and insurance coverage improve [7] Investment and Financial Strategy - The company has increased investment in blood purification equipment and high-value consumables, leading to a 92.34% increase in construction projects [1][4] - Research and development expenses rose by 31.11% as the company focuses on enhancing its R&D capabilities and attracting talent [4] - The company has seen a significant increase in cash flow from operating activities, up 149.5%, due to higher sales and cash receipts [4]

Core Insights - The company reported a significant increase in revenue and profit for the first half of 2025, with total revenue reaching 357 million yuan, a year-on-year growth of 28.72%, and a net profit of 55.04 million yuan, up 20.28% [1][2] - The company emphasizes innovation and has increased R&D investment by 37.12% to 36.51 million yuan, leading to advancements in key technologies and maintaining its position as a leader in the blood purification industry [2][3] Financial Performance - The company achieved a net cash flow from operating activities of 68.45 million yuan, reflecting a substantial increase of 149.50% year-on-year [1] - The basic earnings per share for the first half of the year stood at 0.17 yuan [1] Market Position and Strategy - The company has successfully implemented a dual-engine development strategy focusing on both equipment and consumables, resulting in a 25.15% increase in domestic revenue to 270 million yuan [2] - The market share for CRRT equipment reached 20.42% and for blood dialysis machines 15.29%, both leading among domestic brands, indicating strong competitive positioning [2] Product Development and Innovation - The company has made significant progress in R&D, with 62 patents obtained, including 6 international patents, and has participated in the formulation of multiple national and industry standards [2] - New product developments include advanced blood dialysis machines and high-performance dialysis filters, further solidifying the company's technological leadership [2] Consumables Business Growth - The consumables segment saw revenue growth of 46.17% to 85.34 million yuan, with self-produced consumables revenue increasing by 91.90% [3] - An independent sales team has been established to enhance the synergy between equipment and consumables, focusing on public hospital coverage and strategic partnerships with medical groups [3] International Expansion - The company has accelerated its international market presence, achieving overseas revenue of 86.82 million yuan, a growth of 41.30%, and covering over 100 countries and regions [3] - The company has obtained 22 new overseas product registration certificates and achieved EU MDR certification for key products, indicating successful international compliance and market entry [3]

Group 1 - The National Office will hold a press conference regarding the preparations for the military parade on August 20, with key officials providing updates and answering questions [2] - The Loan Prime Rate (LPR) for August will be announced on August 20, which includes the one-year and five-year rates [2] Group 2 - The 2025 World Educators Conference (WWEC) will take place from August 20 to 22 at the Shanghai National Exhibition and Convention Center, featuring nearly 20 professional forums covering various educational fields [3] Group 3 - On August 20, a total of 5 companies will have their restricted shares unlocked, with a combined unlock volume of 46.6683 million shares, amounting to a market value of 675 million yuan [4] - The companies with the highest unlock volumes include Leshan Electric Power, New Asia Electronics, and Bocheng Co., with unlock volumes of 39.9202 million shares, 4.1524 million shares, and 1.8867 million shares respectively [4] - In terms of market value, Leshan Electric Power, New Asia Electronics, and Bocheng Co. also lead, with unlock values of 534 million yuan, 10.9 million yuan, and 2.4905 million yuan respectively [4] Group 4 - On August 20, 18 companies disclosed their stock repurchase progress, with 8 companies announcing new repurchase plans and 10 companies completing their repurchase plans [5] - Among the new repurchase announcements, three companies plan to repurchase over 10 million yuan, with the highest amounts being 200 million yuan, 160 million yuan, and 14.1146 million yuan respectively [5] - For completed repurchases, five companies have repurchased over 10 million yuan, with the highest amounts being 185 million yuan, 94.7017 million yuan, and 55.6813 million yuan respectively [5] Group 5 - A total of 118.5 billion yuan in 7-day reverse repos will mature today, following a central bank operation on August 13 with an operation rate of 1.40% [5]

Group 1 - On August 20, 18 companies announced a total of 19 stock repurchase plans, with 8 companies disclosing their repurchase plans for the first time and 10 companies completing their repurchase plans [1] - The companies with the highest proposed repurchase amounts are RuYuchen, Zhongshun Jierou, and Shanwaishan, with planned repurchases of up to 200 million, 160 million, and 14.1146 million respectively [1] - The companies that have completed the highest amounts of repurchases are Baoxin Software, Huakai Yibai, and Xinxinwei, with completed repurchases of 185 million, 9.47017 million, and 5.56813 million respectively [1]

证券日报网讯 8月19日晚间，山外山发布2025年半年度报告摘要称，2025年半年度公司实现营业收入 357，247，912.30元，同比增长28.72%；实现归属于上市公司股东的净利润为55，038，592.95元，同 比增长20.28%。 （编辑 任世碧） ...

（文章来源：每日经济新闻） 山外山（SH 688410，收盘价：17.85元）8月19日晚间发布公告称，公司第三届第二十次董事会会议于 2025年8月19日在重庆市两江新区慈济路1号8楼会议室以现场结合通讯的方式召开。会议审议了《关于 2025年半年度报告及其摘要的议案》等文件。 ...

山外山（SH 688410，收盘价：17.85元）8月19日晚间发布半年度业绩报告称，2025年上半年营业收入 约3.57亿元，同比增加28.72%；归属于上市公司股东的净利润约5504万元，同比增加20.28%；基本每股 收益0.1713元，同比增加20.29%。 （文章来源：每日经济新闻） ...

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、准确性和完整性依法承担法律责任。 重要内容提示： ●是否需要提交股东大会审议：是 证券代码：688410 证券简称：山外山 公告编号：2025-039 重庆山外山血液净化技术股份有限公司 关于增加 2025 年度日常关联交易预计的公告 ●日常关联交易对公司的影响：重庆山外山血液净化技术股份有限公司（以 下简称"公司"）与关联人新增的日常关联交易是为了满足公司日常业务发展需 要，根据公平、公正、公允的市场化原则做出，为正常的持续性合作，不存在损 害公司及全体股东利益，尤其是中小股东利益的情况。公司相对于关联人在业务、 人员、财务、资产、机构等方面独立，公司的主要业务也不会因此类交易而对关 联方形成依赖，日常关联交易亦不会对公司的独立性构成影响。 一、新增日常关联交易基本情况 （一）新增日常关联交易履行的审议程序 公司于 2025 年 8 月 19 日召开了 2025 年第二次独立董事专门会议进行审议， 并获全体独立董事一致同意，认为公司增加 2025 年度日常关联交易的预计金额 是为了满足正常业务发展的需要，交 ...

证券代码：688410 证券简称：山外山 公告编号：2025-044 重庆山外山血液净化技术股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ●会议召开时间：2025 年 8 月 27 日（星期三）15:00-16:00 ● 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） ● 会议召开方式：上证路演中心网络文字互动 ● 投资者可于 2025 年 8 月 21 日（星期四）至 8 月 26 日（星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 dmb@swskj.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 重庆山外山血液净化技术股份有限公司（以下简称"公司"）已于 2025 年 8 月 20 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公 司 2025 年半年度经 ...

重庆山外山血液净化技术股份有限公司 2025 年度"提质增效重回报"行动方案 的半年度评估报告 重庆山外山血液净化技术股份有限公司（以下简称"公司"）为践行"以投 资者为本"的上市公司发展理念，维护公司全体股东利益，基于对公司未来发展 前景的信心、对公司价值的认可和切实履行社会责任，公司于 2025 年 4 月 22 日在上海证券交易所披露了《2025 年度"提质增效重回报"行动方案》，以进 一步提高公司质量，助力信心提振、资本市场稳定和经济高质量发展，2025 年 上半年，行动方案主要举措的进展及成效情况如下： 一、聚焦经营主业，提升核心竞争力 公司坚持以技术创新驱动为发展战略，以市场需求为导向，专注聚焦血液净 化行业，积极响应国家医疗器械高质量发展的产业政策，不断拓展产品线，形成 了血液透析机、连续性血液净化设备、血液灌流机等全系列血液净化设备，透析 器、灌流器、管路和透析液/粉等多种类血液净化耗材和血透中心智能管理系统 软件，以及连锁血透中心医疗服务等血液净化全产业链布局。2025 年上半年， 公司实现营业收入 35,724.79 万元，同比增长 28.72%；实现归属于上市公司股 东的净利润 5,50 ...