对于为何提前换届和经营业绩等问题，记者致电宝莱特并发去采访邮件，接线工作人员表示，暂无更多 回应。 距本届董事会任期届满尚有半年时间 宝莱特成立于1993年，总部位于广东省珠海市，控股股东和实际控制人为燕金元、王石夫妇，公司主营 业务为医疗器械产品研发、生产、销售、服务，主要涵盖生命信息与支持和肾病医疗两大业务板块。其 中，生命信息与支持板块主要产品为监护仪设备、心电图机、输注液泵、脉搏血氧仪、监护系统、可穿 戴医疗产品等，目前监护设备已覆盖数千家医疗机构。 7月16日晚间，血透龙头宝莱特（300246.SZ，股价9.11元，市值24.1亿元）发布董事会提前换届公告 称，第八届董事会任期即将于2025年12月届满，结合公司实际情况，公司拟开展董事会提前换届选举工 作。 肾病医疗板块，主要产品为血液透析设备（机）、血液透析器、透析液过滤器、血液透析粉/透析液、 透析管路、穿刺针、消毒液、透析用制水设备等，广泛应用于急慢性肾功能衰竭领域的治疗。 根据公告，宝莱特第八届董事会非独立董事陈坚、廖伟、唐文普将不再担任公司非独立董事职务，陈坚 拟提名为第九届董事会独立董事。此次提前换届后，宝莱特第九届董事会拟由9名董事组 ...

Summary of Key Points Core Viewpoint The Chinese IPO market is showing signs of recovery in the first half of 2025, with a total of 94 new listings in A-shares and Hong Kong stocks, indicating a positive trend in capital market expansion, particularly for companies from Shandong province. Group 1: IPO Market Overview - As of June 2025, a total of 94 new companies were listed in A-shares and Hong Kong stocks, with A-shares contributing 51 new listings and raising 37.355 billion yuan, representing a year-on-year increase of approximately 16% in the number of new stocks and 15% in total financing compared to 2024 [1] - Shandong province contributed three new listings: Weigao Blood Purification (603014.SH), Xinhenghui (301678.SZ) in A-shares, and Nanshan Aluminum International (02610.HK) in Hong Kong [1] Group 2: Weigao Blood Purification - Weigao Blood Purification officially listed on the Shanghai Stock Exchange on May 19, 2025, with an issue price of 26.5 yuan per share, raising 1.09 billion yuan [2] - The stock price closed at 41.41 yuan per share on the first day, a 56.26% increase from the issue price, with a market capitalization reaching 17.036 billion yuan [2] - The company is a leader in the blood purification sector, focusing on the development, production, and sales of medical products, and has established a strong technological barrier with 257 domestic patents [2][3] Group 3: Xinhenghui Electronics - Xinhenghui Electronics was listed on the ChiNext board on June 20, 2025, with an issue price of 12.80 yuan per share, successfully raising 767 million yuan [5] - The company is a leader in smart card packaging materials, with a global market share of 30%, ranking second worldwide [5][6] - From 2021 to 2023, Xinhenghui's revenue grew from 548 million yuan to 767 million yuan, with a compound annual growth rate of 18.28% [6] Group 4: Nanshan Aluminum International - Nanshan Aluminum International, the only Shandong company listed in Hong Kong, focuses on high-end aluminum supply chain and has become the first aluminum company listed in Southeast Asia [9] - The company opened at 26.60 HKD but closed at 25.25 HKD on the first day, a decrease of 5.08%, although the stock price increased by 28.57% by the end of June [9][10] - From 2021 to 2023, Nanshan's revenue surged from 173 million USD to 678 million USD, with a net profit increase from 39.71 million USD to 174 million USD [10] Group 5: Other Companies and Trends - Several other Shandong companies are planning to list in Hong Kong, including Goer Microelectronics and Tianyue Advanced, indicating a trend of Shandong enterprises expanding into international markets [10][11] - The capital market in Shandong is experiencing both new listings and some companies opting for voluntary delisting, such as Yulong Gold [13][14] - The overall landscape of Shandong's capital market is characterized by a mix of growth and restructuring, with a focus on high-end manufacturing and technology sectors [15]

7月9日，威高血净今日收盘37.69元，下跌1.10%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到33.88倍，总市值155.05亿元。 从行业市盈率排名来看，公司所处的医疗器械行业市盈率平均51.36倍，行业中值37.22倍，威高血净排 名第71位。 股东方面，截至2025年5月19日，威高血净股东户数59754户，较上次增加59736户，户均持股市值35.28 万元，户均持股数量2.76万股。 山东威高血液净化制品股份有限公司的主营业务为血液净化医用制品的研发、生产和销售。公司主要产 品包括血液透析器、血液透析管路、血液透析机以及腹膜透析液，分别围绕血液透析和腹膜透析领域， 辅以透析配套产品的销售，是国内产品线最为丰富的血液净化医用制品厂商之一。2022年公司在国内血 液透析器领域的市场份额占比为32.5%，位列全行业第一；在国内血液透析管路领域的市场份额占比为 32.8%，位列全行业第一；2022年公司获授权独家销售的威高泰尔茂品牌腹膜透析液在国内腹膜透析液 领域的市场份额占比为3.6%，位列全行业第五。 最新一期业绩显示，2025年一季报，公司实现营业收入8.96亿元，同比6.44% ...

招商通知 第三届全球手术机器人大会 第二届全球医疗科技大会 2025年7月1日， 江西三鑫医疗科技股份有限公司 （以下简称"三鑫医疗"）召开第五届董事会第二十次会议，审议通过了在 香港设立全资子公司三鑫医疗（香港） 有限公司 （以下简称"香港三鑫"）的议案。 # 拟新设全资子公司基本情况 投资目的是 加强与国际市场的合作交流，拓展海外业务，符合公司发展战略 。 # 关于三鑫医疗 江西三鑫医疗科技股份有限公司 （股票代码：300453）是一家专业专注于医疗器械研发、制造、销售和服务的国家高新技术企业。公司创建于1997年，是 江西省 医疗器械行业首家A股上市公司 。 业务范围包括以下： 血液净化类 ：公司核心业务，涵盖 血液透析机、血液透析器、血液透析浓缩物、血液透析管路、一次性使用透析用留置针 等。公司是 行业内首批 通过完全自 主研发具备血液透析设备及耗材全产品链的企业之一。 给药器具类 ：包括注射类、输液输血类产品。公司紧跟市场需求，持续对给药器具产品迭代升级。 注册地址 ：中国香港 注册资本 ：10万美元 经营范围 ：进出口贸易、对外投资、技术咨询和服务 出资方式 ：自有资金 股权结构 ：三鑫医疗持有1 ...

Core Insights - The company, Weigao Blood Purification, closed at 36.39 yuan on June 24, with a 1.45% increase, resulting in a rolling PE ratio of 32.72 times and a total market capitalization of 14.971 billion yuan [1][2] - The average PE ratio in the medical device industry is 49.12 times, with a median of 36.07 times, placing Weigao Blood Purification at the 71st position in the industry ranking [1][2] - As of May 19, 2025, the number of shareholders increased to 59,754, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Company Overview - Weigao Blood Purification specializes in the research, production, and sales of blood purification medical products, including blood dialysis devices, blood dialysis tubing, blood dialysis machines, and peritoneal dialysis fluid [1] - The company holds the largest market share in China for blood dialysis devices at 32.5% and blood dialysis tubing at 32.8% as of 2022 [1] - The company also ranks fifth in the domestic market for peritoneal dialysis fluid with a market share of 3.6% for the Weigao Tailmao brand [1] Financial Performance - In the first quarter of 2025, the company reported a revenue of 896 million yuan, a year-on-year increase of 6.44%, and a net profit of 112 million yuan, up 7.91% year-on-year [2] - The gross profit margin for the company stands at 40.92% [2]

Group 1 - Kangfang Biotech's PD-1/CTLA-4 bispecific antibody KAITENI® has received approval for a new indication in the treatment of cervical cancer, marking the third indication for this drug [1] - Tianyi Medical has obtained product registration certificates for single-use continuous renal replacement therapy tubing and single-use hemodialysis tubing, both sterilized with ethylene oxide [2] - Jincheng Pharmaceutical's posaconazole enteric-coated tablets and injectable cefoperazone sodium have been approved, enhancing the company's competitiveness in the antifungal and anti-infection sectors [3] Group 2 - Prolo Pharma has received approval for the raw material drug succinate desvenlafaxine, expanding its product pipeline in the antidepressant treatment field [4] - Wantai Biological Pharmacy's first domestically produced nine-valent HPV vaccine has been approved, with approximately 1 billion yuan invested in research and development as of May 2025 [5] - Yuheng Pharmaceutical's subsidiary has signed a market promotion service agreement with Eisai (China) Pharmaceutical for the exclusive promotion of mecobalamin injection, which is used for peripheral neuropathy and vitamin B12 deficiency-related anemia [6]

医药生物周报（25 年第 22 周） 优于大市 血液净化器械行业分析，关注产业链国产替代趋势 证券研究报告 | 2025年06月04日 本周医药板块表现强于整体市场，化学制药板块领涨。本周全部 A 股下跌 0.05%（总市值加权平均），沪深 300 下跌 1.08%，中小板指下跌 1.55%， 创业板指下跌 1.40%，生物医药板块整体上涨 2.21%，生物医药板块表 现强于整体市场。分子板块来看，化学制药上涨 3.83%，生物制品上涨 3.14%，医疗服务上涨 2.46%，医疗器械上涨 0.54%，医药商业下跌 0.39%，中药上涨 0.62%。医药生物市盈率（TTM）34.03x，处于近 5 年历史估值的 69.61%分位数。 血液净化行业受益于人口老龄化与治疗渗透率提升。血液净化的基础治疗 方式包括血液透析/滤过/灌流、腹膜透析、连续性肾脏替代治疗、血浆 置换/吸附等。其中，血液透析是终末期肾病（ESRD）最主要的治疗方 式，全球 ESRD 患者数量持续增长，叠加中国透析治疗率远低于日美等 发达国家，政策推动下透析治疗渗透率提升空间巨大。连续性肾脏替代 治疗（CRRT）是急性肾衰竭等各种危重病救治重要的 ...

Core Viewpoint - The company is committed to high-quality development and innovation in the healthcare industry, focusing on strategic transformation and operational efficiency to enhance shareholder value and market competitiveness [2][3][22]. Group 1: Company Overview - The annual shareholder meeting for 2024 is scheduled for June 3, 2025, at the company's headquarters in Zibo, Shandong [1]. - The company reported a net profit attributable to shareholders of 623.20 million yuan for 2024, representing a growth of 0.60% compared to the previous year [3][30]. Group 2: Business Performance - The company has implemented over 130 key innovation projects, achieving breakthroughs in critical technologies and successfully launching more than 100 new products [3][4]. - The company has expanded its market presence internationally, achieving qualifications and operational status in factories in Indonesia and Saudi Arabia, and successfully entering high-end markets in the EU [4][5]. Group 3: Financial Highlights - The total revenue for 2024 was approximately 10.02 billion yuan, with a slight increase from 10.01 billion yuan in 2023 [30]. - The company plans to distribute a cash dividend of 2.50 yuan per 10 shares, amounting to a total of approximately 151.67 million yuan, which is 21.93% of the net profit [27][29]. Group 4: Future Plans - The company aims to focus on strategic tasks and industry transformation, enhancing its operational efficiency and market positioning through systematic planning and execution [12][13]. - The 2025 financial budget anticipates a research and development expenditure of 43 to 45 million yuan, with international revenue expected to grow by no less than 30% compared to 2024 [26][28].

Core Insights - Shandong Weigao Blood Purification Products Co., Ltd. officially listed on the Shanghai Stock Exchange on May 19, marking a new chapter in its capital market journey [1] - The company has been dedicated to meeting the blood purification needs of global kidney disease patients for over 20 years, focusing on hemodialysis and peritoneal dialysis [1] Market Position - As of 2023, Weigao Blood Purification holds the leading market shares in China for hemodialysis devices and blood dialysis tubing, with shares of 32.5% and 31.8% respectively [2] - The company ranks second in the market for hemodialysis machines with a 24.6% market share, closely following Fresenius Medical [2] Financial Performance - Weigao Blood Purification reported revenues of 3.426 billion yuan, 3.532 billion yuan, and 3.604 billion yuan for the years 2022, 2023, and 2024 respectively [2] - The net profits attributable to shareholders were 315 million yuan, 442 million yuan, and 449 million yuan for the same years, indicating strong profitability and market resilience [2] Technological Advancements - The company is actively engaged in the research and development of core technologies related to biomedical membranes, significantly improving solute clearance rates by over 15% and reducing allergy risks for patients [3] - Weigao's technological breakthroughs have prompted international competitors to reassess their development directions, accelerating global advancements in blood purification technology [3] Investment and Growth Strategy - The IPO proceeds will primarily fund projects in intelligent production, the establishment of a hemodialysis device production base, R&D center development, and digital information technology platform construction [4] - Future R&D investments will focus on next-generation hemodialysis devices, innovative production equipment, and fully automated manufacturing equipment [5] Market Expansion - The company plans to enhance cooperation with grassroots medical institutions to increase product coverage in lower-tier cities and rural areas, capitalizing on the growing demand for blood purification equipment [5] - Weigao has been expanding its international presence since 2016, with a notable market share in Southeast Asia, particularly in Indonesia [5] Industry Outlook - The blood purification industry in China is poised for significant growth due to an aging population, rising chronic kidney disease prevalence, and improved treatment penetration rates [5] - The company aims to leverage capital market opportunities to enhance brand influence and contribute to the health of chronic kidney disease patients in China [5]

Core Viewpoint - Weigao Blood Purification officially listed on the Shanghai Stock Exchange on May 19, 2023, raising approximately 1.09 billion yuan with a closing price of 41.41 yuan per share, a 56.26% increase from the issue price [1][2]. Group 1: Financial Performance - Weigao Blood Purification's revenue for 2024 is projected to be 3.604 billion yuan, a 2.04% increase from 2023 [3]. - The company reported a net profit of 449 million yuan for 2024, up 1.58% from 2023 [3]. - The average selling price of blood purification products has been declining, with the average factory price of blood purification devices dropping by 16% and 11% in 2024 [7][8]. Group 2: Market Position and Competition - The blood purification industry in China is facing intense competition, with international giants like Fresenius and Baxter dominating the market [1][4]. - Weigao Blood Purification holds the largest market share in the domestic blood purification device sector, with 32.5% for blood purification devices and 31.8% for blood purification tubing [5][6]. - The company’s blood purification machine revenue has been declining due to procurement delays, with revenues dropping from 660 million yuan in 2022 to 619 million yuan in 2024 [5][6]. Group 3: Business Strategy and Challenges - The funds raised from the IPO will be used for the construction of intelligent production facilities and the development of new high-performance consumables [1]. - The company faces challenges from reliance on joint ventures for key products, which could impact overall performance if partnerships deteriorate [7]. - The implementation of volume-based procurement policies is pressuring prices and profit margins, with projected declines in gross profit margins [8][12]. Group 4: R&D and Sales Dynamics - R&D expenses for Weigao Blood Purification are relatively low compared to sales expenses, with R&D accounting for only 4.57% of revenue in 2024 [9][10]. - The company has faced scrutiny regarding high sales expenses, which are approximately 20% of revenue, higher than comparable companies [10]. - The need for a balance between high R&D investment and compliance with regulations is a significant challenge for the company and the industry as a whole [12].