EBSCN·2026-01-11 10:51Investment Rating - The report maintains a rating of "Buy" for the small nucleic acid drug industry, indicating an expected investment return exceeding 15% over the next 6-12 months [5]. Core Insights - The small nucleic acid drug market, primarily driven by SiRNA and ASO, is experiencing rapid growth from technological breakthroughs to large-scale commercialization, with a compound annual growth rate (CAGR) of 217.8% from 2016 to 2021, increasing from $0.1 billion to $3.25 billion [1]. - The global market for oligonucleotide drugs is projected to exceed $15 billion by 2026, with a CAGR of 35% from 2020 to 2025 [1]. - BlueX Technology is a key player in solid-phase synthesis carriers, developing a comprehensive "synthesis-purification" platform for small nucleic acids and peptides, with significant investments planned for expanding its capabilities [2]. - Lianhua Technology is leveraging its established small molecule CDMO system to expand into the small nucleic acid business, with the global CDMO market expected to surpass $120 billion by 2024, growing at a CAGR of approximately 9.5% [3]. Summary by Sections Small Nucleic Acid Drug Market - The small nucleic acid drug market is characterized by a variety of drug types, including SiRNA and ASO, with a significant increase in market size and growth rate [1]. - The market is expected to continue its upward trajectory, driven by advancements in technology and increased demand for oligonucleotide drugs [1]. BlueX Technology - BlueX Technology has established itself as a leader in solid-phase synthesis carriers, creating a full-chain supply capability for small nucleic acids and peptides [2]. - The company plans to invest 1.15 billion yuan in a new GMP-standard biopharmaceutical park and expand its international presence [2]. Lianhua Technology - Lianhua Technology is expanding its CDMO services to include small nucleic acids, capitalizing on the growing demand for biopharmaceuticals and small molecule intermediates [3]. - The company has made significant progress in international market expansion and is focusing on developing new business areas, including peptide CDMO and radioactive drugs [3].