第一条 为规范重庆山外山血液净化技术股份有限公司(以下简称"公司") 内幕信息管理行为，加强内幕信息保密工作，维护公司信息披露的公开、公平、 公正原则，保护投资者的合法权益，根据《中华人民共和国公司法》《中华人民 共和国证券法》(以下简称"《证券法》")《上市公司信息披露管理办法》《上 市公司监管指引第 5 号——上市公司内幕信息知情人登记管理制度》等有关法律、 法规、规范性文件，及《重庆山外山血液净化技术股份有限公司章程》(以下简 称"《公司章程》")的有关规定，特制定本制度。 重庆山外山血液净化技术股份有限公司 内幕信息知情人登记备案制度 公司在报送内幕信息知情人档案和重大事项进程备忘录时应当出具书面承 诺，保证所填报内幕信息知情人信息及内容的真实、准确、完整，并向全部内幕 信息知情人通报有关法律法规对内幕信息知情人的相关规定。董事长与董事会秘 书应当对内幕信息知情人档案的真实、准确和完整签署书面确认意见。 未经董事会批准，公司任何部门和个人不得向外界泄露、报道、传送有关涉 及公司内幕信息及信息披露的内容。公司审计委员会应当对内幕信息知情人登记 管理制度实施情况进行监督。 第三条 内幕信息知情人做好内幕信 ...

重庆山外山血液净化技术股份有限公司 2025 年第三季度报告 证券代码：688410 证券简称：山外山 重庆山外山血液净化技术股份有限公司 2025 年第三季度报告 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、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是√否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 227,038,796.04 | ...

证券代码：688410 证券简称：山外山 公告编号：2025-054 重庆山外山血液净化技术股份有限公司 关于取消监事会、变更注册资本和经营范围、修订 《公司章程》并办理工商变更登记、修订与制定部分 内部治理制度的公告 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、准确性和完整性依法承担法律责任。 重庆山外山血液净化技术股份有限公司（以下简称"公司" ）于 2025年10月 28日召开了第三届董事会第二十一次会议，审议通过了《关于取消监事会、变更注 册资本和经营范围、修订<公司章程>并办理工商变更登记的议案》《关于修订及制 定公司部分内部治理制度的议案》。公司于同日召开第三届监事会第十七次会议， 审议通过了《关于取消监事会、变更注册资本和经营范围、修订<公司章程>并办理 工商变更登记的议案》，上述议案尚需提交公司股东大会审议。具体情况如下： 一、关于取消监事会 根据《中华人民共和国公司法》（以下简称"《公司法》"）《关于新<公 司法>配套制度规则实施相关过渡期安排》《上市公司章程指引》以及《上海证券交 易所科创板股票上市规则》等相关法律、法规、规范性文件 ...

证券代码：688410 证券简称：山外山 公告编号：2025-052 天职国际已取得北京市财政局颁发的执业证书，是中国首批获得证券期货相 关业务资格，获准从事特大型国有企业审计业务资格，取得金融审计资格，取得 会计司法鉴定业务资格，以及取得军工涉密业务咨询服务安全保密资质等国家实 行资质管理的最高执业资质的会计师事务所之一，并在美国PCAOB注册。天职国 际过去二十多年一直从事证券服务业务。 截至2024年12月31日，天职国际合伙人90人，注册会计师1097人，签署过证 券服务业务审计报告的注册会计师399人。 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： ●拟聘任的会计师事务所名称：天职国际会计师事务所（特殊普通合伙） ●本事项尚需提交公司股东大会审议 一、拟聘任会计师事务所的基本情况 （一）机构信息 1、基本信息 天职国际会计师事务所（特殊普通合伙）（以下简称"天职国际"）创立于 1988年12月，总部北京，是一家专注于审计鉴证、资本市场服务、管理咨询、政 务咨询、税务服务、法务与清算、信息技术咨询 ...

证券代码：688410 证券简称：山外山 公告编号：2025-053 重庆山外山血液净化技术股份有限公司 关于使用闲置自有资金进行现金管理的公告 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： 基本情况 | 投资金额 | 不超过 万元（含本数，或等值外币） | 100,000.00 | | --- | --- | --- | | 投资种类 | 银行、证券公司等具有合法经营资格的金融机构发行的安全性高、 | | | | 流通性好、稳健型的金融产品或结构性存款等理财产品。 | | | 资金来源 | 自有资金 | | 已履行的审议程序 2025 年 10 月 28 日，重庆山外山血液净化技术股份有限公司（以下简称"公 司"）召开了第三届董事会第二十一次会议和第三届监事会第十七次会议，审议 并通过了《关于使用闲置自有资金进行现金管理的议案》，本事项无需提交股东 大会审议。 特别风险提示 公司及子公司进行现金管理时，选择安全性高、流通性好、稳健型的金融产品 或结构性存款等理财产品，总体风险可控，但金融市场受宏观经济影响较 ...

Core Insights - The company reported a third-quarter revenue of 227 million, representing a year-on-year increase of 61.66% [1] - The net profit for the third quarter was 49.45 million, showing a significant year-on-year growth of 205.50% [1] - For the first three quarters, the total revenue reached 584 million, which is a year-on-year increase of 39.79% [1] - The net profit for the first three quarters amounted to 104 million, reflecting a year-on-year growth of 68.68% [1]

Core Viewpoint - The company, located in Chongqing's Liangjiang New Area, is experiencing a surge in orders despite challenges faced by many enterprises, indicating strong market demand and effective management strategies [1][2]. Company Overview - The company, known as Shanwaishan, is a leading player in China's blood purification equipment industry and the only Sci-Tech Innovation Board listed company in this sector [3]. - The founder, Gao Guangyong, has a background in mechanical manufacturing and has been instrumental in breaking foreign monopolies in the market, leading to rapid market share growth [2][4]. Historical Context - The company was founded in 2001 after Gao was motivated by a personal tragedy related to the lack of blood purification machines in his hometown [4]. - Initial challenges included high technical barriers, strict regulations, and market monopolization by foreign brands, which required significant financial investment and innovation [5][6]. Recent Developments - The company is currently expanding its production capacity, with a new industrial park expected to generate an annual output value of approximately 3 billion yuan [7]. - Shanwaishan's core business in blood purification equipment has seen a continuous increase in market share, with significant growth in self-produced consumables [8]. Market Performance - The company has achieved a market share of 20.42% in continuous blood purification equipment and 15.29% in blood dialysis machines, leading among domestic brands [8]. - In the first half of 2023, the company's self-produced consumables reported a revenue increase of 91.90% year-on-year [8]. International Expansion - The overseas market is becoming a significant profit growth point, with foreign income accounting for 24.30% of total revenue in the first half of the year [9]. - The company aims to establish itself as a global leader in blood purification, benefiting patients with kidney diseases and critical conditions worldwide [9].

Core Insights - On October 10, the stock of Chongqing Shanwaishan Blood Purification Technology Co., Ltd. increased by 3.66%, with a trading volume of 134 million yuan [1] - As of October 10, the company had a total margin balance of 113 million yuan, with a net margin purchase of 1.69 million yuan on that day [1][2] - For the first half of 2025, the company reported a revenue of 357 million yuan, representing a year-on-year growth of 28.72%, and a net profit of 55 million yuan, up 20.28% year-on-year [2] Financing and Margin Data - On October 10, the financing buy amount was 10.93 million yuan, with a current financing balance of 113 million yuan, accounting for 3.08% of the circulating market value [1] - The financing balance is above the 80th percentile level over the past year, indicating a high level of financing activity [1] - The company had no short selling activity on October 10, with a short selling balance of 0.00 yuan, which is below the 30th percentile level over the past year, indicating low short selling interest [1] Shareholder and Dividend Information - As of June 30, the number of shareholders increased by 2.67% to 8,150, while the average circulating shares per person decreased by 2.60% to 28,779 shares [2] - Since its A-share listing, the company has distributed a total of 104 million yuan in dividends [3] - Among the top ten circulating shareholders, Bosera Healthcare Mixed A (050026) is the fifth largest shareholder, increasing its holdings by 746,300 shares [3]

Investment Rating - The industry investment rating is "Overweight" and has been maintained from the previous rating [7] Core Viewpoints - The blood purification industry in China is experiencing stable growth driven by strong supply and demand dynamics, with a market size CAGR of 5.67% from 2019 to 2023, and an expected CAGR of 21.52% from 2023 to 2027 [10] - The report emphasizes the potential for domestic manufacturers to replace imports, focusing on large single products, diversification, and international expansion [10] Industry Overview - The blood dialysis market is expanding, with the number of ESRD patients rapidly increasing, leading to a steady rise in dialysis demand. The number of patients receiving blood and peritoneal dialysis in China grew from 579,000 and 95,000 in 2018 to 917,000 and 153,000 in 2023, respectively [10][30] - The market for blood dialysis devices and consumables is expected to continue growing, with the blood dialysis machine market projected to reach 8.17 billion RMB by 2030 [22] Supply and Demand Dynamics - The demand side is supported by the increasing number of ESRD patients and improved medical payment capabilities, while the supply side benefits from the growing number of domestic manufacturers and supportive industry policies [10][30] - The report highlights that the domestic market is still dominated by foreign brands, but local companies are gradually increasing their market share [43][47] Investment Recommendations - The report suggests focusing on companies with strong international potential, comprehensive product matrices, and competitive single products, such as Sanwa, Baolait, Weigao Blood Purification, and others [10][30] - The report identifies three main investment themes: international expansion, product matrix improvement, and strong single product competitiveness [10] Policy Support - A series of government policies have been introduced to support the blood purification industry, including funding, tax incentives, and industry planning, which are expected to drive demand growth [55][57] - The report notes that centralized procurement of blood purification consumables has been implemented, leading to significant price reductions [57]

Company Overview - The company, Chongqing Shanwaishan Blood Purification Technology Co., Ltd., was established on March 26, 2001, and went public on December 26, 2022. It is located at No. 1 Ciji Road, Liangjiang New Area, Chongqing [2]. - The main business involves the research, production, and sales of blood purification equipment, with revenue composition as follows: blood purification equipment 66.12%, blood purification consumables 23.89%, medical services 8.31%, and others 1.68% [2]. Stock Performance - As of September 24, the stock price increased by 2.16% to 14.66 CNY per share, with a total market capitalization of 4.71 billion CNY [1]. - Year-to-date, the stock price has risen by 32.55%, but it has seen a decline of 2.66% over the last five trading days and 5.84% over the last 20 days [2]. Financial Performance - For the first half of 2025, the company achieved a revenue of 357 million CNY, representing a year-on-year growth of 28.72%. The net profit attributable to the parent company was 55.04 million CNY, up by 20.28% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 104 million CNY in dividends [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 2.67% to 8,150, while the average circulating shares per person decreased by 2.60% to 28,779 shares [2]. - Among the top ten circulating shareholders, Bosera Healthcare Mixed A (050026) is the fifth largest, holding 3.26 million shares, an increase of 746,300 shares from the previous period [3].