Group 1 - The core issue affecting the stock price of ST Shuangcheng is the announcement of delisting risk, stating that if the company cannot turn a profit or meet revenue standards by 2025, it will face delisting [1] - The company issued a second delisting risk warning on February 9, indicating that despite a forecasted net profit turnaround for 2025, the delisting crisis remains a concern [1] Group 2 - The stock price has shown a downward trend over the past week, declining from 7.93 yuan on February 6 to 7.63 yuan on February 13, representing a drop of 4.03% with a volatility of 13.21% [2] - Trading volume has gradually decreased, with a turnover rate of only 0.37% on February 13, indicating a lack of market activity [2] - The stock price fluctuations are linked to concerns over delisting risk, with a weak short-term technical outlook [2] Group 3 - The company's 2025 performance forecast indicates a turnaround with an expected net profit of 16 million to 23 million yuan, reflecting a year-on-year increase of over 120%, primarily due to the advancement of international business and a reduction in asset impairment losses [3] - However, the financial fundamentals remain under pressure, with continuous revenue decline from 2022 to 2024, and a projected loss of 78.3 million yuan in 2024 [3] - The current profit turnaround is largely dependent on non-recurring factors, and its sustainability will need to be validated by the annual report [3]

Industry Overview - Peptides are bioactive fragments of proteins that can be rapidly absorbed and utilized by the human body, providing energy and nutrients to cells. Their potential has been further released since the Human Genome Project in the 1990s, leading to unprecedented prosperity in peptide research and applications, especially in the pharmaceutical field [1][13] - The Chinese peptide industry market size is projected to grow from 57.34 billion yuan in 2016 to 209.12 billion yuan in 2024, with a compound annual growth rate (CAGR) of 17.56%. By 2025, the market size is expected to reach approximately 247.6 billion yuan [1][13] Market Segmentation - The peptide industry value chain consists of upstream raw materials and equipment (amino acids, amino acid protectants, resin acids, synthesis instruments, packaging materials), midstream production and manufacturing, and downstream applications in food, pharmaceuticals, feed, health products, and cosmetics [9][11] - The global peptide drug market is expected to reach approximately 96 billion USD by 2025, driven by the increasing prevalence of chronic diseases and the unique advantages of peptide drugs in treatment [12][17] Key Companies - HanYue Pharmaceutical focuses on four main areas: peptide formulations, raw materials, small nucleic acids, and CRDMO services. The company has achieved significant revenue growth, with a reported 114.86% increase in pharmaceutical manufacturing revenue in the first half of 2025 [20][21] - ZhongPeptide Biochemical Co., Ltd. specializes in contract research, development, and production of peptides and small nucleic acids, providing comprehensive services from early discovery to commercial production [21] Development Trends - The Chinese peptide industry is transitioning from traditional chemical synthesis to a deep integration of biotechnology and synthetic biology, enhancing production efficiency and reducing costs [22][24] - The application of peptides is rapidly expanding beyond pharmaceuticals into health, beauty, and functional food markets, with increasing consumer demand for personalized health solutions [23][24] - The industry is also moving towards green manufacturing and sustainable development, focusing on reducing environmental footprints and enhancing social responsibility [24]

证券代码：002693 证券简称：*ST双成 公告编号：2026-009 海南双成药业股份有限公司 关于公司股票可能被终止上市的第二次风险提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 1、海南双成药业股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日披 露了《关于公司股票被实施退市风险警示暨停牌的公告》（公告编号：2025-028）， 公司股票于 2025 年 4 月 30 日开市起被实施退市风险警示。若公司出现《深圳证 券交易所股票上市规则》第 9.3.12 条规定情形之一，公司股票将存在被终止上 市的风险。 2、根据《深圳证券交易所股票上市规则》第 9.3.6 条规定："上市公司因触 及本规则第 9.3.1 条第一款第一项至第三项情形，其股票交易被实施退市风险警 示后，应当在其股票交易被实施退市风险警示当年会计年度结束后一个月内，披 露股票可能被终止上市的风险提示公告，在首次风险提示公告披露后至年度报告 披露前，每十个交易日披露一次风险提示公告。"公司应当披露股票可能被终止 上市的风险提示公告。本次公告为公司第 ...

Core Viewpoint - Company *ST Shuangcheng (002693.SZ)* has announced that its 2025 annual report is scheduled for disclosure on April 29, 2026, and it is committed to fulfilling its information disclosure obligations in accordance with relevant laws and regulations [1]. Group 1 - Company has received inquiries from investors regarding the feasibility and plans for early disclosure of the 2025 annual report [3]. - Investors expressed optimism about the company's forecasted profitability for the 2025 fiscal year, indicating potential for the company to remove its "ST" designation [3]. - Questions were raised about whether the company would expedite the process of removing the "ST" designation to stabilize market expectations and reduce investor anxiety [3].

Core Viewpoint - Hainan Shuangcheng Pharmaceutical Co., Ltd. has recently obtained a revised Drug Production License from the Hainan Provincial Drug Administration, allowing the company to undertake contract manufacturing of injectable Etoposide Sodium (1.0g specification) for Shanghai Mengke Pharmaceutical Co., Ltd. [1][2] Group 1 - The revised Drug Production License includes the addition of contract manufacturing information, which will help the company optimize its production structure and meet market demand [2] - The production address and facilities are located at No. 16, Xingguo Road, Xiuying District, Haikou City, with a production line specifically for freeze-dried powder injections [1] - The license is valid until August 7, 2030, and covers a range of products including raw materials and various types of injectable formulations [1][2]

证券代码：002693 证券简称：*ST双成 公告编号：2026-008 海南双成药业股份有限公司 关于公司药品生产许可证变更的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 海南双成药业股份有限公司（以下简称"公司"）于近日取得海南省药品监 督管理局颁发变更后的《药品生产许可证》。本次主要涉及变更的事项为：同意 公司接受上海盟科药业股份有限公司委托生产注射用乙磷康替唑胺钠（规格 1.0g），生产地址、车间和生产线为海口市秀英区兴国路 16 号，冻干粉针剂三车 间冻干粉针剂生产线，(仅限注册申报使用)。其他内容不变。现将相关情况公告 如下： 日常监督管理机构：海南省药品监督管理局 有效期至：2030 年 08 月 07 日 生产地址和生产范围：海口市秀英区兴国路 16 号；原料药（胸腺法新、艾 塞那肽、比伐芦定、依替巴肽、胸腺五肽、生长抑素、醋酸曲普瑞林、醋酸奥曲 肽、加压素、硼替佐米***），冻干粉针剂（三车间、四车间），小容量注射剂（含 卡式），大容量注射剂***。 企业名称：海南双成药业股份有限公司 注册地址：海口市秀英区兴国路 16 号 社会信用 ...

Group 1 - Intercontinental Oil and Gas focuses on oil exploration and development, with significant operations in Kazakhstan and the Malacca Strait, benefiting from the Hainan Free Trade Port's zero-tariff policy which will reduce equipment import costs and enhance cross-border energy trade efficiency, with a projected 30% increase in trade scale over the next three years [1][34] - Jinpan Technology, a leading manufacturer of high-end power distribution equipment, will benefit from reduced raw material costs and a 15% corporate income tax reduction, enhancing profitability and enabling expansion into the ASEAN power equipment market [2][35] - Hainan Airlines, a major player in the aviation sector, expects a significant increase in passenger traffic due to the visa-free policy for 86 countries and duty-free upgrades, with projected passenger volume exceeding 80 million by 2026 [3][36] Group 2 - Junda Co., a top photovoltaic cell manufacturer, anticipates growth in its solar business due to reduced equipment costs and tax incentives, with plans to participate in Hainan's integrated wind and solar storage projects [4][37] - Caesar Travel, a comprehensive tourism service provider, expects a doubling of cross-border tourism business and a significant increase in tourist arrivals, with projections of 180 million visitors by 2026 [5][38] - Xinda A, a diversified company focusing on motorcycle manufacturing and coal mining, aims to leverage the zero-tariff policy to enhance profitability and expand into the electric vehicle market [6][39] Group 3 - ST Huluwawa, a leading pediatric pharmaceutical company, will benefit from reduced raw material costs and tax incentives, with plans to expand into the ASEAN pharmaceutical market [8][40] - Hainan Ruize, a construction industry leader, anticipates a surge in infrastructure demand with projected investments exceeding 100 billion by 2026, benefiting from the Hainan Free Trade Port's policies [9][42] - Hainan Airport, a key player in airport operations, expects a doubling of cargo business and significant passenger growth due to the visa-free policy and duty-free upgrades [10][43] Group 4 - Hainan Development, an investment platform, anticipates a substantial increase in duty-free sales, projected to exceed 100 billion by 2026, benefiting from the Hainan Free Trade Port's policies [11][45] - Hainan Highway, a major highway operator, expects a significant increase in traffic volume, projected to exceed 200 million vehicles by 2026, benefiting from the integration of tourism and real estate [20][56] - Hainan Rubber, the world's largest natural rubber producer, aims to expand its market presence in ASEAN due to favorable trade policies and tax incentives [21][57]

Core Viewpoint - *ST Shuangcheng (002693.SZ) is expected to turn a profit in 2025, with net profit attributable to shareholders projected between 16 million to 23 million yuan, marking a significant turnaround from losses in the previous year [1] Financial Performance - The company anticipates a total profit growth of 107.53% to 111.30% year-on-year, with net profit attributable to shareholders expected to increase by 120.43% to 129.37% [1] - Revenue is projected to be between 250 million to 290 million yuan [1] Factors Influencing Profit Changes - The company is focusing on international development to counteract domestic drug price declines, leading to steady growth in export sales and advancements in overseas R&D projects [1] - The approval of the U.S. registration application for injectable paclitaxel (albumin-bound) is expected to drive significant revenue growth following its rapid sales post-approval [1] - The absence of fair value loss from Zhongrong Trust financial products, which impacted the previous year's results, and a reduction in asset impairment losses have also contributed to the turnaround [1]

证券代码：002693 证券简称：*ST双成 公告编号：2026-007 海南双成药业股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 1、海南双成药业股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日披 露了《关于公司股票被实施退市风险警示暨停牌的公告》（公告编号：2025-028）， 公司股票于 2025 年 4 月 30 日开市起被实施退市风险警示。若公司出现《深圳证 券交易所股票上市规则》第 9.3.12 条规定情形之一，公司股票将存在被终止上 市的风险。 2、根据《深圳证券交易所股票上市规则》第 9.3.6 条规定："上市公司因触 及本规则第 9.3.1 条第一款第一项至第三项情形，其股票交易被实施退市风险警 示后，应当在其股票交易被实施退市风险警示当年会计年度结束后一个月内，披 露股票可能被终止上市的风险提示公告，在首次风险提示公告披露后至年度报告 披露前，每十个交易日披露一次风险提示公告。"公司应当披露股票可能被终止 上市的风险提示公告。敬请广大投资者理性投资，注意风险。 截至本公告披露日，公司可能触及 ...

Core Viewpoint - *ST Shuangcheng is expected to turn a profit in 2025, with a projected net profit attributable to shareholders ranging from 16 million to 23 million yuan, marking a significant turnaround from previous losses [1] Financial Performance - The company anticipates a total profit growth of 107.53% to 111.30% year-on-year for the reporting period [1] - The net profit attributable to shareholders is expected to increase by 120.43% to 129.37% year-on-year [1] - The net profit excluding non-recurring gains and losses is projected to be between 14 million and 20 million yuan, also indicating a turnaround from losses [1] Factors Influencing Profit Changes - The company is focusing on international development to counteract domestic drug price declines, leading to steady growth in export sales and successful overseas project registrations [1] - The approval of the U.S. registration application for injectable paclitaxel (albumin-bound) is expected to drive significant revenue growth [1] - The absence of fair value loss from financial products in the current reporting period, which was present in the previous year, has positively impacted profit [1] - A reduction in asset impairment losses during the reporting period has also contributed to the overall improvement in operational performance [1]