海南双成药业股份有限公司发布2025年度利润分配预案，不分红、未转增股本

【2026年4月18日，海口讯】 海南双成药业股份有限公司（证券代码：002693，简称：*ST双成）于2026年4月16日召开第六届董事会第三次会议，审议通过了《关于2025年度利润分配预案的议案》。本次利润分配预案为：2025年度不派发现金红利，不送红股，不以公积金转增股本，该预案尚需提交公司2025年年度股东大会审议。

一、关键财务数据与分配方案

• 2025年，公司经审计实现归属于上市公司股东的净利润为19,043,164.44元，其中母公司实现净利润31,043,178.22元。
• 截至2025年12月31日，合并报表未分配利润为-406,220,854.87元，母公司未分配利润为-165,644,492.45元，均为负值。
• 公司自2023、2024、2025三个会计年度以来，连续三年未派发现金红利或实施股份回购注销，三年平均净利润为-36,667,717.04元。

董事会作出不分红、不转增的决定，主要原因： 考虑到未分配利润持续为负，且公司需要保留资金以支持未来经营和发展，保障各项目顺利开展，兼顾公司长期可持续发展与全体股东整体利益。

二、对投资者和股东的影响与风险提示

• 公司利润分配政策完全符合《公司章程》及招股说明书等相关承诺，并未违反相关法律法规。
• 公司已连续三年未分红，且累计未分配利润持续为负，但公司明确表示当前不触及深交所《股票上市规则》第9.8.1条第（九）项的其他风险警示情形。
• 未来如经营状况未明显改善，缺乏分红能力可能会持续影响市场对公司价值的评估，投资者需密切关注公司后续业绩变动和经营改善情况。
• 2025年度实现扭亏为盈（净利润为正），但累计亏损依然巨大，短期内难以兑现股东分红回报。

三、备查文件及后续流程

公司已披露相关审计报告（上会师报字(2026)第3778号）及董事会会议决议，后续仍需提交年度股东大会审议通过本次利润分配预案。

四、可能影响股价的要点

• 持续三年不分红且累计未分配利润为负，可能对市场信心构成压制，特别是价值投资者可能会重新评估持股理由。
• 公司2025年度实现净利润为正，显示一定经营改善迹象，但未能根本扭转亏损面和分红能力，短期利好有限。
• 公司未触及其他风险警示线，短期内不会被实施其他风险警示措施，但若未来业绩未持续好转，风险依然存在。

免责声明： 本文内容仅供投资者参考，不构成任何投资建议。投资者据此操作，风险自负。请关注公司后续公告及业绩报告，做出理性判断。

Hainan Shuangcheng Pharmaceuticals Co., Ltd. Announces 2025 Profit Distribution Plan: No Dividend, No Bonus Issue, No Capital Reserve Transfer

[Haikou, April 18, 2026] Hainan Shuangcheng Pharmaceuticals Co., Ltd. (Stock code: 002693, *ST Shuangcheng) held its 6th Board of Directors’ 3rd meeting on April 16, 2026, and approved the “Proposal on the 2025 Profit Distribution Plan.” The plan specifies: no cash dividend, no bonus shares, and no capital reserve to share capital conversion for the 2025 financial year. This plan is subject to approval at the 2025 Annual General Shareholders’ Meeting.

1. Key Financial Data and Distribution Plan

• For 2025, the company achieved an audited net profit attributable to shareholders of RMB 19,043,164.44, with parent company net profit at RMB 31,043,178.22.
• As of December 31, 2025, consolidated undistributed profit stood at -RMB 406,220,854.87, and parent company undistributed profit at -RMB 165,644,492.45, both in the negative.
• Over the past three fiscal years (2023, 2024, 2025), the company has not paid a cash dividend nor conducted share buybacks/cancellations. The three-year average net profit is -RMB 36,667,717.04.

The board’s rationale for not paying dividends or conducting any capital increase: Due to accumulated undistributed losses and the need to retain funds to support ongoing operations and future development, the board decided not to distribute profits to ensure project continuity, long-term sustainable growth, and alignment with all shareholders’ interests.

2. Impact on Investors and Shareholders & Risk Reminders

• The company’s dividend policy fully complies with the Articles of Association and IPO prospectus commitments, without breaching any laws or regulations.
• The company clarifies that, despite three consecutive years of no dividends and negative retained earnings, it does not currently trigger other special risk warnings under SZSE Listing Rules Article 9.8.1(9).
• If the operating situation does not improve, the lack of dividend-paying capacity could continue to affect market perceptions of company value. Investors should monitor further performance changes and business improvements.
• While the company turned a profit in 2025, total accumulated losses remain substantial, making shareholder cash returns unlikely in the short term.

3. Reference Files and Next Steps

The company has released the relevant audit report (Shanghui Report No. (2026) 3778) and the board resolution. The plan awaits approval at the upcoming annual shareholders’ meeting.

4. Potential Share Price Impact

• Three consecutive years of no dividends and continued negative retained earnings may suppress market confidence, especially among value-focused investors who may reevaluate their holdings.
• 2025 marks a return to profitability, signaling some operational improvement, yet the fundamental issue of distribution capacity remains unresolved—short-term positive impact is limited.
• The company is not currently at risk of special treatment or additional risk warnings, but persistent lack of financial improvement could raise future risks.

Disclaimer: The information herein is for investor reference only and does not constitute investment advice. Investors act at their own risk. Please pay attention to future company announcements and performance reports to make informed decisions.

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