格隆汇12月4日丨山外山(688410.SH)公布，在保证不影响公司募集资金投资计划正常进行的前提下，公 司及子公司天外天和圆中圆拟使用最高不超过人民币80,000万元（含本数）的暂时闲置募集资金进行现 金管理，使用期限不超过12个月，自董事会审议通过之日起12个月之内有效。在前述额度及期限范围 内，公司及子公司天外天和圆中圆可以循环滚动使用资金进行现金管理。 ...

Core Viewpoint - The stock of Chongqing Shanwaishan Blood Purification Technology Co., Ltd. has experienced fluctuations, with a recent decline of 2.02% and a year-to-date increase of 35.62% [1][2]. Group 1: Stock Performance - As of December 1, the stock price is 15.00 CNY per share, with a market capitalization of 4.794 billion CNY [1]. - The stock has seen a decline of 1.96% over the last five trading days, 11.56% over the last 20 days, and 3.66% over the last 60 days [2]. Group 2: Company Overview - Chongqing Shanwaishan was established on March 26, 2001, and went public on December 26, 2022. The company specializes in the research, production, and sales of blood purification equipment [2]. - The revenue composition is as follows: blood purification equipment 66.12%, blood purification consumables 23.89%, medical services 8.31%, and others 1.68% [2]. Group 3: Financial Performance - For the period from January to September 2025, the company achieved a revenue of 584 million CNY, representing a year-on-year growth of 39.79%. The net profit attributable to shareholders was 104 million CNY, with a year-on-year increase of 68.68% [2]. Group 4: Shareholder Information - As of October 31, the number of shareholders is 11,200, an increase of 8.86% from the previous period, with an average of 20,949 circulating shares per person, a decrease of 8.14% [2]. - The company has distributed a total of 104 million CNY in dividends since its A-share listing [3].

Core Viewpoint - The article discusses the blood purification device industry, highlighting the increasing prevalence of End-Stage Renal Disease (ESRD) and the growth potential of blood purification technologies in response to this global health challenge [18][21]. Market Overview - The global ESRD patient population is projected to grow from 91.33 million in 2019 to 148.51 million by 2030, with a CAGR of 4.2% [18][19]. - In China, the ESRD patient population is expected to increase from 3.025 million in 2019 to 6.132 million by 2030, with a CAGR of 5.8% [20][18]. Treatment Methods - Blood purification is the most widely used treatment for ESRD, offering higher survival rates compared to kidney transplantation and conservative treatment [21]. - The number of patients receiving blood purification treatment in China rose from 736,000 in 2019 to 1.069 million in 2023, with a CAGR of 9.8%, and is expected to reach 3.791 million by 2030, with a CAGR of 19.8% [21][23]. Blood Purification Technologies - The main blood purification methods include hemodialysis, peritoneal dialysis, blood perfusion, and blood filtration, with hemodialysis being the most mature and widely applied [29]. - Hemodialysis effectively removes harmful substances and excess fluid from the blood, making it suitable for patients at various disease stages [29]. Market Size and Growth - The Chinese blood dialysis device market is projected to grow from CNY 11.63 billion in 2019 to CNY 51.52 billion by 2030, with a CAGR of 19.9% from 2023 to 2030 [30][28]. - The market share of blood dialysis devices in China is expected to see significant growth, with specific segments like blood dialysis machines and consumables also experiencing robust growth rates [30]. Competitive Landscape - Domestic companies are rapidly catching up with international competitors in the blood purification consumables sector, achieving nearly 50% market share in dialysis filters [31]. - The competitive landscape for blood dialysis machines is evolving, with domestic manufacturers improving their technology and performance to match imported products [37][33]. Policy and Market Dynamics - The article notes that the Chinese government has been implementing centralized procurement policies, leading to significant price reductions and accelerating the domestic replacement process in the blood purification market [36][35].

Investment Rating - The report does not explicitly provide an investment rating for the blood purification device industry Core Insights - The report highlights the increasing prevalence of End-Stage Renal Disease (ESRD) globally and in China, with the number of patients expected to rise significantly by 2030, indicating a growing market for blood purification devices [13][15] - Blood purification is identified as the most widely used treatment method for ESRD, with a higher survival rate compared to other treatments like kidney transplantation and conservative treatment [19] - The Chinese blood purification device market is projected to grow rapidly, driven by an increase in ESRD patients, improved reimbursement policies, and advancements in dialysis infrastructure [26] Market Overview - The global ESRD patient population increased from 9.13 million in 2019 to 11.14 million in 2023, with a CAGR of 5.1%, and is expected to reach 14.85 million by 2030 [13][14] - In China, the ESRD patient population grew from 3.03 million in 2019 to 4.13 million in 2023, with a CAGR of 8.1%, projected to reach 6.13 million by 2030 [15] - The number of patients receiving blood purification treatment in China rose from 736,000 in 2019 to 1.07 million in 2023, with a CAGR of 9.8%, expected to reach 3.79 million by 2030 [19][18] Treatment Methods - Blood purification methods include hemodialysis, peritoneal dialysis, blood perfusion, and blood filtration, with hemodialysis being the most common and effective method for ESRD patients [23] - Hemodialysis is noted for its effectiveness in removing toxins and excess fluid, while peritoneal dialysis is gaining traction due to its home treatment capabilities [21][23] Market Size and Growth - The Chinese blood purification device market size increased from 116.3 billion yuan in 2019 to 145.0 billion yuan in 2023, with a CAGR of 5.7%, and is expected to reach 515.2 billion yuan by 2030, with a projected CAGR of 19.9% from 2023 to 2030 [26] - The market for blood purification devices is segmented into blood purification machines, blood purification consumables, and other related equipment, with significant growth expected across all segments [26] Competitive Landscape - Domestic companies are rapidly catching up to international competitors in the blood purification consumables market, achieving nearly 50% market share in key areas [27] - The report indicates that the domestic market for blood purification machines still has room for growth, as these products have historically relied on imports due to high technical barriers [27][34] - The report emphasizes that domestic manufacturers are improving their technology and performance, positioning themselves to capture a larger market share [29][34]

Core Viewpoint - The company, Shanwaishan, is focused on providing blood purification solutions and does not engage in real estate projects, nor is it affected by the US-China trade war due to its localized supply chain [1] Group 1: Company Overview - Shanwaishan is a national high-tech enterprise that integrates blood purification equipment, consumables, intelligent management systems for hemodialysis centers, and chain hemodialysis centers [1] - The company has developed a fully controllable domestic supply chain over 25 years, covering "main raw materials - core components - complete machine manufacturing" [1] Group 2: Business Operations - Shanwaishan has confirmed that it is not involved in any real estate projects in Chongqing [1] - The company's supply chain does not involve US procurement, thus it remains unaffected by the ongoing US-China trade tensions [1]

证券代码：688410 证券简称：山外山 公告编号：2025-060 重庆山外山血液净化技术股份有限公司 关于公司非独立董事辞职暨选举职工董事的公告 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。 重庆山外山血液净化技术股份有限公司（以下简称"公司"）董事会近日收 到公司非独立董事童锦先生的书面辞职报告，因公司内部治理结构调整，童锦先 生申请辞去公司第三届董事会非独立董事职务和第二届董事会战略委员会委员 职务，根据《公司法》《公司章程》等有关规定，童锦先生的辞任自公司收到辞 职报告之日生效。辞任后，童锦先生将继续担任公司副总经理和核心技术人员。 | 是否继续 | 是否存在 | 原定任 | 在上市公 | 具体职务 | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 离任职 | 离任 | 未履行完 | 姓名 ...

证券代码：688410 证券简称：山外山 公告编号：2025-059 重庆山外山血液净化技术股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的提示性 公告 股东湖南湘江力远投资管理有限公司-湖南湘江大健康创业投资合伙企业（有限 合伙）（以下简称"大健康"或"信息披露义务人"）、湖南湘江力远投资管理有限公 司-湖南湘江力远健鲲创业投资合伙企业（有限合伙）（以下简称"力远健鲲"）保 证向本公司提供的信息真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 注：大健康根据已披露的减持计划，在 2025 年 8 月 27 日-2025 年 11 月 12 日期间，减持持有重庆山外山血液净化技术股份有限公司（以下简称"公司"） 的股份 106,842 股；2025 年 11 月 17 日，公司实施了回购股份注销事项，总股 本由 321,315,646 股减少至 319,600,622 股，大健康及一致行动人力远健鲲合计 持股比例触及 1%刻度，因此本次权益变动前合计持股比例为 9.01%，具体内容详 见公司于 2025 年 ...

Core Viewpoint - The company Dajiankang has executed a share reduction plan, which includes the sale of shares and subsequent share buybacks, resulting in a slight decrease in the shareholding percentage of its major shareholders [1] Group 1 - Dajiankang announced a share reduction plan, where it reduced 106,842 shares from August 27 to November 12, 2025 [1] - On November 17, the company implemented a share buyback and cancellation, leading to a decrease in total share capital [1] - On November 19, Dajiankang further reduced 47,500 shares through centralized bidding, which accounted for 0.01% of the total share capital [1] Group 2 - The combined shareholding of Dajiankang and its concerted party Liyuan Jiankun decreased from 9.01% to 9.00%, reaching a 1% threshold [1] - The current share reduction is part of a previously announced plan and has not yet been fully executed [1] - The share reduction will not lead to changes in the controlling shareholder or actual controller, nor will it affect the company's governance and operations [1]

Meeting Overview - The shareholders' meeting was held on November 14, 2025, at the conference room on the 8th floor, No. 1 Ciji Road, Liangjiang New Area, Chongqing [2] - The total share capital of the company as of the registration date was 321,315,646 shares, with 1,666,341 shares in the repurchase account not entitled to vote, resulting in a total of 319,649,305 shares eligible for voting [2] Voting and Resolutions - The meeting was convened by the board of directors, with the chairman attending online due to official duties, and a director was elected to preside over the meeting [3] - The voting method combined on-site and online voting, complying with relevant laws and regulations [3] - All proposed resolutions were passed, including the reappointment of the accounting firm for 2025 and amendments to the company's articles of association [4][5][6] Attendance and Legal Compliance - All current directors and supervisors attended the meeting, along with the board secretary and senior management [4] - The meeting's procedures were verified by Guangdong Huashang (Chongqing) Law Firm, confirming compliance with the Company Law and other regulations [6] Documentation - The resolutions from the shareholders' meeting were documented and signed by the attending directors and the recording person, along with a legal opinion from the witnessing law firm [7]

广东华商（重庆）律师事务所 关于重庆山外山血液净化技术股份有限公司 2025 年第三次临时股东大会的 法律意见书 二〇二五年十一月十四日 广东华商（重庆）律师事务所 关于重庆山外山血液净化技术股份有限公司 2025 年第三次临时股东大会的 法律意见书 重庆山外山血液净化技术股份有限公司（以下简称"公司"）2025 年第三次临时 股东大会定于 2025 年 11 月 14 日于两江新区慈济路 1 号 8 楼会议室召开，广东华商 （重庆）律师事务所（以下简称"本所"）接受公司的委托，指派孟显慧律师、代星 宇律师（以下简称"本所律师"）通过现场参会方式对本次股东大会进行见证并出具本见 证意见。 本所律师依据本法律意见书出具前已经发生或者存在的事实和《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 东会规则（2025 年 3 月修订）》（以下简称《股东会规则》）及其他现行有效的法律、法规 及规范性文件规定及《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》）的有关规定出具本法律意见书。 为出具本法律意见书，本所律师已经对公司提供的与本次股东 ...