Weigao Blood Purification Plans Internal Restructuring to Complete Pharmaceutical Packaging Portfolio

Source: Securities Daily Network

Reporter Wang Xi of this newspaper

A resource integration within the "WEGO System" is unfolding. After announcing a trading halt on October 18 to plan a major asset restructuring, on the evening of October 31, Shandong WEGO Blood Purification Products Co., Ltd. (hereinafter referred to as "WEGO Hemodialysis"") Announced again that the company's proposed acquisition of 100% equity in Shandong WEGO Prefills Pharmaceutical Packaging Co., Ltd. (hereinafter referred to as "WEGO Prefills") through the issuance of shares has passed the company's board review. The company's stock will resume trading on November 3rd.

According to the "Shandong WEGO Blood Purification Products Co., Ltd. Issuance of Shares to Purchase Assets and Related Transactions Preliminary Plan" (hereinafter referred to as the "Preliminary Plan") disclosed on the same day, upon completion of this transaction, WEGO Prereads will become a wholly-owned subsidiary of WEGO Blood Purification. After preliminary calculations, this transaction is expected to constitute a major asset restructuring and related party transactions, but it will not lead to a change in the company’s control and does not constitute a backdoor listing.

WEGO Blood Purification successfully listed on the main board of the Shanghai Stock Exchange on May 19 this year. The company is mainly engaged in the research, development, production, and sales of medical products in the blood purification field and is one of the manufacturers with the richest product lines in China’s blood purification medical products industry. Shandong WEGO Prefills Pharmaceutical Packaging Co., Ltd. focuses on the R&D, production, and sales of pre-filled injection systems and automatic safety drug delivery systems, being one of the earliest domestic manufacturers to break through the industry barriers. According to Tianyancha App, after equity penetration, both companies are important members under Weigao Group.

For WEGO Blood Purification, this "in-house" restructuring is not only a complement to the industrial chain but also a deepening of the development strategy.

According to this preliminary plan, after the completion of this transaction, WEGO Blood Purification can expand its product line into the pharmaceutical packaging materials field by integrating the technical accumulation and product layout of Shandong WEGO Prefills Pharmaceutical Packaging Co., Ltd.

Chairman of Zhonghe Kunlun (Beijing) Asset Management Co., Ltd., Bai Wenqi, told the Securities Daily: “WEGO Blood Purification's acquisition of its ‘own family’ this time is a major asset restructuring within the group system.” He believes that this move will not only help integrate upstream and downstream sectors, strengthen the listed company’s control over key raw materials and packaging processes, and enhance supply chain stability, but also reduce potential related-party transactions in the future, optimize corporate governance structure, and boost capital market confidence. “In recent years, WEGO Group has been continuously promoting asset securitization. Injecting high-quality assets into the listed company platform this time will help improve the overall asset quality and profitability of WEGO Blood Purification,” Bai Wenqi said.

Notably, at present, WEGO Blood Purification has completed the technical research and product prototyping of biopharmaceutical filters such as hollow fiber tangential flow filters and hollow fiber virus filters based on its own technology platform. Following this transaction, WEGO Blood Purification’s product technology reserve and Shandong WEGO Prefills Pharmaceutical Packaging Co., Ltd.'s extensive customer resources in the biopharmaceutical field can achieve mutual empowerment, jointly expanding the upstream biopharmaceutical market with a focus on biopharmaceutical filters.

A relevant person from WEGO Blood Purification stated that with the rapid development of the biopharmaceutical industry, in addition to the growing demand for pharmaceutical packaging materials such as pre-filled syringes and automatic safety drug delivery systems required for finished drugs, the market demand for upstream biopharmaceutical products like filters needed for biopharmaceutical manufacturers' research, development, and production is also increasing, indicating a broad market prospect.

    ZhongguancunYuan Shuai, Deputy Secretary General of the IoT Industry Alliance, told reporters from the Securities Daily: "With the intensification of population aging, the number of patients with diseases such as chronic kidney disease that require blood purification treatment is increasing, and market demand continues to expand. Overall, the blood purification industry has broad development space and a favorable development trend. WEGO's expansion into pharmaceutical packaging will help it seize opportunities in the industry and achieve better growth."

As a leading enterprise in the hemodialysis field listed on the Shanghai Stock Exchange this year, WEGO Blood Purification has maintained a steady performance since its listing. On the evening of October 30, WEGO Blood Purification released its Q3 2025 report. In the first three quarters of this year, the company achieved operating revenue of 2.736 billion yuan, representing a year-on-year increase of 3.45%; net profit attributable to shareholders of the listed company was 341 million yuan, up 7.92% year-on-year.

WEGO Blood Purification also highlighted relevant risks in the announcement. As of the date of signing this preliminary plan, the auditing and evaluation work related to this transaction has not been completed, and the final transaction price for the target assets has not been determined. This transaction still requires further deliberation by the company's board of directors and approval by the company’s shareholders meeting. Additionally, it needs to pass the review of the Shanghai Stock Exchange and receive registration approval from the China Securities Regulatory Commission, among other approvals, before it can be implemented.

(Editor: He Jun)