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 ...

证券代码：688410 证券简称：山外山 公告编号：2025-058 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决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 11 月 14 日 （四） 表决方式是否符合《公司法》及公司章程的规定，大会主持情况等。 本次股东大会由董事会召集，董事长高光勇先生因公务原因线上参会，不便 于主持，按照《公司章程》等规定，由过半数的董事共同推举董事喻上玲女士主 持本次股东大会。会议采用现场投票与网络投票相结合的表决方式进行表决。本 次会议的召集、召开符合《中华人民共和国公司法》《公司章程》《股东大会议事 规则》及《上市公司股东会规则》等法律、法规和规范性文件的规定。 （五） 公司董事、监事和董事会秘书的出席情况 1、 公司在任董事9人，出席9人； 2、 公司在任监事3人，出席3人； 3、 董事会秘书喻上玲女士出席本次会议；公司高级管理人员列席了本次会议。 ...

Core Points - The company has decided to repurchase and cancel 1,715,024 shares from its 2024 employee stock ownership plan due to unmet performance targets [1][3][5] Group 1: Repurchase and Cancellation Details - The decision for the repurchase and cancellation was approved during the board meeting on August 19, 2025, and subsequently at the second extraordinary general meeting of shareholders on September 4, 2025 [2][4] - The repurchase is set to be completed by November 17, 2025, with the company applying for the transfer of shares to a dedicated repurchase account [4] Group 2: Financial Performance - For the fiscal year 2024, the company reported an audited revenue of 567 million and a net profit attributable to shareholders of 57 million, which was adjusted to 69 million after excluding non-recurring losses [3] Group 3: Impact on Shareholding Structure - Following the cancellation, the total share capital will decrease from 321,315,646 shares to 319,600,622 shares, resulting in a slight increase in the shareholding percentage of major shareholders from 8.97% to 9.01% [4][5] Group 4: Company Outlook - The repurchase and cancellation of shares are not expected to materially affect the company's financial status, operational results, or shareholder equity [5]

证券代码：688410 证券简称：山外山 公告编号：2025-057 重庆山外山血液净化技术股份有限公司 2024 年员工持股计划股份回购注销实施公告 （一）2025年8月19日，公司召开的第三届董事会第二十次会议审议通过了 《关于公司2024年员工持股计划股份回购注销暨提前终止的议案》，具体内容详 见公司于2025年8月20日在上海证券交易所网站（www.sse.com.cn）披露的《关 于公司2024年员工持股计划股份回购注销暨提前终止的提示性公告》（公告编号： 2025-041）。 （二）2025年9月4日，公司召开的2025年第二次临时股东大会审议通过了《关 于公司2024年员工持股计划股份回购注销暨提前终止的议案》，具体内容详见公 司于2025年9月5日在上海证券交易所网站（www.sse.com.cn）上披露的《2025 年第二次临时股东大会决议公告》（公告编号：2025-047）。 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： 回购注销原因：鉴于重庆山外山血液净化技术股份有限公司（以下简称 "公 ...

Core Points - The company announced a share buyback and cancellation of 1.715 million shares due to unmet performance targets for the 2024 employee stock ownership plan [1] - In 2024, the company's revenue was 567 million yuan and net profit was 69 million yuan, which did not meet the target values [1] - The share buyback is expected to be completed by November 17, 2025, resulting in a reduction of total shares from 321,315,646 to 319,600,622 [1] - Following the cancellation, the shareholding percentage of major shareholder Dajiankang and its concerted party Liyuan Jiankun will increase from 8.97% to 9.01% [1]

Core Viewpoint - The stock of Chongqing Shanwaishan Blood Purification Technology Co., Ltd. has shown significant price movements and financial growth, indicating potential investment opportunities in the medical device sector [1][2]. Company Overview - Chongqing Shanwaishan was established on March 26, 2001, and listed on December 26, 2022. The company specializes in the research, production, and sales of blood purification equipment [1]. - The company's revenue composition includes 66.12% from blood purification equipment, 23.89% from blood purification consumables, 8.31% from medical services, and 1.68% from other sources [1]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 584 million yuan, representing a year-on-year growth of 39.79%. The net profit attributable to shareholders was 104 million yuan, reflecting a year-on-year increase of 68.68% [2]. - As of September 30, 2025, the company has distributed a total of 104 million yuan in dividends since its A-share listing [3]. Stock Performance - As of November 12, the stock price increased by 2.06% to 16.84 yuan per share, with a total market capitalization of 5.411 billion yuan. The stock has risen by 52.26% year-to-date, although it has seen a decline of 2.15% in the last five trading days [1]. - The stock's trading volume on November 12 was 18.742 million yuan, with a turnover rate of 0.48% [1]. Shareholder Information - The number of shareholders increased by 26.20% to 10,300 as of September 30, 2025, while the average circulating shares per person decreased by 20.76% to 22,805 shares [2]. - Notable institutional shareholders include Penghua Medical Technology Stock A and Bosera Healthcare Mixed A, holding 5.182 million shares and 3.257 million shares, respectively [3].

Core Insights - The National Health Commission released implementation opinions to promote and regulate the application of "Artificial Intelligence + Healthcare," outlining eight key application areas and development goals for 2027 and 2030 [1][2]. Group 1: Key Application Areas - The eight key areas identified include AI + grassroots applications, AI + clinical diagnosis, AI + patient services, AI + traditional Chinese medicine, AI + public health, AI + research and education, AI + industry governance, and AI + health industry [2][3]. - The focus on grassroots applications aims to enhance intelligent services in areas such as medical imaging, ECG diagnosis, and public health management [3]. Group 2: Development Goals - By 2027, the goal is to establish high-quality health data sets and intelligent applications in clinical settings, with a focus on major diseases and enhancing diagnostic capabilities [2][4]. - By 2030, the aim is for intelligent applications in grassroots diagnosis to achieve full coverage, with advanced AI applications in secondary and tertiary hospitals [2]. Group 3: Company Opportunities - A-share companies like Shanhai Mountain, Yunnan Baiyao, and Aojiahua have already made early investments in AI + healthcare, positioning themselves to benefit from the policy's support [1][4]. - Companies such as Keda Xunfei and Yunkang Life are developing AI solutions for imaging and comprehensive healthcare services, enhancing patient experience and operational efficiency [4][5]. Group 4: Focus on Medical Robots - The implementation opinions emphasize the promotion of intelligent medical devices, including rehabilitation and acupuncture robots, indicating a growing market for AI-driven medical equipment [5]. - Companies like Aojiahua are developing smart massage robots based on traditional Chinese medicine principles, showcasing innovation in the sector [5]. Group 5: Patient Services and Research - The implementation opinions highlight the need for AI to enhance patient services, including intelligent appointment scheduling and pre-consultation services in hospitals [5][6]. - Companies like Yunnan Baiyao are advancing drug research through AI systems that predict the effects of new molecules, indicating a trend towards integrating AI in pharmaceutical research [6].

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会议资料 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 年第三次临时股东大会 会议资料 2025 年 11 月 14 日 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会议资料 目录 | 1 | 2025 年第三次临时股东大会会议须知 | | --- | --- | | 3 | 2025 年第三次临时股东大会会议议程 | | 5 | 2025 年第三次临时股东大会会议议案 | | 5 | 议案一：关于续聘 2025 年度会计师事务所的议案 | | 议案二：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 9 | | | 议案三：关于修订及制定公司部分内部治理制度的议案 12 | | 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会议资料 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会议须知 为维护广大投资者的合法权益，保障股东在本次股东大会期间依法行使权利， 根据《中华人民共和国公司法》、中国证监 ...

Investment Rating - The report assigns a "Buy-A" investment rating with a 6-month target price of 22 yuan, which corresponds to a dynamic price-to-earnings ratio of 44 times for 2025 [4][6]. Core Insights - The company reported a significant revenue increase of 61.66% year-on-year for Q3 2025, reaching 227 million yuan, while net profit surged by 205.5% to 49 million yuan, driven by a recovery in industry procurement activities and an increase in market share [2][4]. - The company has been focusing on the development and layout of blood purification consumables, achieving a 91.9% year-on-year growth in self-produced consumables revenue, amounting to 65 million yuan by mid-2025 [3][4]. Financial Performance Summary - For 2023A, the main revenue is projected at 690 million yuan, with net profit at 194 million yuan and an earnings per share (EPS) of 0.61 yuan. The revenue growth rate is expected to be 80.7% [9]. - The forecast for 2025E includes a main revenue of 801 million yuan, net profit of 160 million yuan, and an EPS of 0.50 yuan, with a net profit growth rate of 125% [9]. - The company anticipates revenue growth rates of 41.2%, 29.6%, and 26.5% for the years 2025, 2026, and 2027, respectively, with net profit growth rates of 125%, 31.3%, and 30.7% during the same period [4][9].

Core Points - The company will hold a performance briefing for the third quarter of 2025 on November 11, 2025, from 09:00 to 10:00 [2][4] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an online text interaction format [3][4] - Investors can submit questions from November 4 to November 10, 2025, and the company will address common concerns during the briefing [2][4] Meeting Details - The meeting will be attended by key personnel including the Chairman and General Manager, Mr. Gao Guangyong, and the Financial Director and Secretary of the Board, Ms. Yu Shangling [4] - Investors can participate online through the Shanghai Stock Exchange Roadshow Center website [4][6] - After the meeting, the main content and details will be available for review on the same website [6][7]