路德环境所属申万行业为：农林牧渔-饲料-畜禽饲料。所属概念板块包括：合成生物、饲料、小盘、专 精特新、微盘股等。 截至9月30日，路德环境股东户数3867.00，较上期减少6.68%；人均流通股26044股，较上期增加 7.16%。2025年1月-9月，路德环境实现营业收入2.54亿元，同比增长14.15%；归母净利润-1612.68万 元，同比减少368.25%。 分红方面，路德环境A股上市后累计派现6118.73万元。近三年，累计派现1510.71万元。 11月5日，路德环境盘中下跌2.03%，截至10:29，报19.28元/股，成交1233.01万元，换手率0.63%，总市 值19.42亿元。 路德环境今年以来股价涨42.50%，近5个交易日涨0.21%，近20日跌4.03%，近60日跌9.36%。 今年以来路德环境已经1次登上龙虎榜，最近一次登上龙虎榜为4月8日，当日龙虎榜净买入732.82万 元；买入总计3861.10万元 ，占总成交额比28.79%；卖出总计3128.28万元 ，占总成交额比23.33%。 资料显示，路德生物环保科技股份有限公司位于湖北省武汉市东湖新技术开发区未来科技城九龙湖街51 ...

证券之星消息，11月3日饲料板块较上一交易日上涨0.49%，播恩集团领涨。当日上证指数报收于 3976.52，上涨0.55%。深证成指报收于13404.06，上涨0.19%。饲料板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 001366 | 播恩集团 | 13.86 | 3.36% | 5.04万 | | 6929.66万 | | 002100 | 天康生物 | 7.55 | 2.30% | 31.95万 | | 2.40亿 | | 000702 | 正虹科技 | 7.30 | 1.53% | ● 7.62万 | | 5531.06万 | | 002548 | 金新农 | 5.01 | 1.42% | - 31.59万 | | 1.55亿 | | 002891 | 中宠股份 | 57.97 | 1.35% | 7.21万 | | 4.15亿 | | 001313 | 劃與廣 | 7.26 | 1.11% | 4.65万 | | 3364.43万 | | 6 ...

Investment Rating - The investment rating for the company is "Accumulate" and is maintained [6] Core Views - In the first three quarters of 2025, the company achieved operating revenue of 250 million yuan, a year-on-year increase of 14.2%, while the net profit attributable to the parent company was a loss of 20 million yuan. In Q3 alone, the revenue reached 110 million yuan, up 38.9% year-on-year, with a net profit loss of 3.05 million yuan [2][4] - The gross margin of the distiller's grains feed products is showing signs of recovery, and new factories are gradually turning profitable. The rapid development of the bio-fermented feed business has led to a slight increase in expenses, but customer coverage continues to expand, with expectations for performance improvement [2][10] Summary by Sections Financial Performance - The company reported a total revenue of 250 million yuan for the first three quarters of 2025, with a year-on-year growth of 14.2%. The net profit attributable to the parent company was a loss of 20 million yuan. In Q3, the revenue was 110 million yuan, marking a 38.9% increase year-on-year, while the net profit loss was 3.05 million yuan [2][4] Business Segments - The bio-fermented feed segment saw a sales volume of 131,800 tons in the first three quarters, a year-on-year increase of 62.48%, generating sales revenue of 200 million yuan, up 18.74%. In Q3, the sales volume was 59,400 tons, a 95.61% increase year-on-year, with sales revenue of 90 million yuan, up 42.50% year-on-year [10] - The inorganic waste treatment service business generated sales revenue of 40 million yuan in the first three quarters of 2025 [10] Profitability and Cost Structure - The gross margin for the bio-fermented feed business has shown recovery, with Q3 gross margin increasing by 8.88 percentage points to 20.92%. The company incurred a total loss of 21.78 million yuan from new factories in the first three quarters, with losses narrowing in Q3 [10] - The expense ratio increased by 0.7 percentage points to 31.6%, with the sales expense ratio decreasing by 2.4 percentage points to 4.7%, while the management expense ratio rose by 0.2 percentage points to 21.3% [10] Market Position and Future Outlook - The company has successfully entered the supplier lists of several well-known end customers, including New Hope Group and Haida Group, establishing a good market reputation. The production capacity of the bio-fermented feed business has rapidly increased from 50,000 tons/year to 470,000 tons/year [10] - The company is expected to continue facing losses in 2025, with a potential turnaround in 2026, and a projected net profit of 46 million yuan in 2027 [10]

Market Overview - The feed sector increased by 0.67% on October 31, with Tianma Technology leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Individual Stock Performance - Tianma Technology (603668) closed at 14.23, up 3.27% with a trading volume of 239,900 shares and a turnover of 339 million yuan [1] - Other notable gainers include: - Lude Environment (688156) at 19.92, up 3.11% [1] - Bangji Technology (603151) at 25.74, up 2.92% [1] - Lusi Co., Ltd. (920419) at 18.50, up 2.89% [1] - Baiyang Co., Ltd. (002696) at 6.93, up 1.76% [1] Capital Flow Analysis - The feed sector saw a net inflow of 2.7495 million yuan from institutional investors, while retail investors experienced a net outflow of 68.2743 million yuan [2] - The main capital inflow was observed in: - Haida Group (002311) with a net inflow of 25.3688 million yuan from institutional investors [3] - Tiankang Biological (002100) with a net inflow of 17.8393 million yuan from institutional investors [3] Summary of Trading Data - The trading data for the feed sector includes: - Major stocks with significant trading volumes and turnover, such as: - Aonong Biological (603363) with a turnover of 216 million yuan [2] - Zhongchong Co., Ltd. (002891) with a turnover of 267 million yuan [2] - The overall sentiment in the feed sector appears mixed, with some stocks gaining while others faced declines [2][3]

Core Insights - Lude Environment (688156.SH) released its Q3 2025 report on October 31, 2025, indicating a total of 4 institutional investors holding shares, amounting to 6.39% of the total share capital [1] Institutional Holdings - The total number of shares held by institutional investors is 6.4406 million, with a combined holding percentage of 6.39% [1] - The institutional investors include Qingkong Yinxing Nantong Venture Capital Fund, Guosen Securities Co., Ltd., Wuhan Detian Zhongxiang Enterprise Management Partnership, and Beijing Heyi Yingtong Asset Management [1] - Compared to the previous quarter, the institutional holding percentage decreased by 0.49 percentage points [1] Public Fund Disclosures - In this period, 43 public funds were disclosed, including notable funds such as Huaxia Pantai Mixed (LOF) A, Huaxia New Jinxiu Mixed A, and Jianxin Shanghai Stock Index Selected Sci-Tech Innovation Board Innovative Value ETF [1]

Group 1 - The core point of the article is that Lude Environment (SH 688156) held its fourth meeting of the fifth board of directors on October 30, 2025, to review the proposal regarding the company's Q3 2025 report [1] - For the year 2024, Lude Environment's revenue composition is 93.72% from environmental governance and 6.28% from other businesses [1] - As of the report date, Lude Environment has a market capitalization of 1.9 billion yuan [1]

Group 1 - The core viewpoint of the article is that Lude Environment (688156.SH) reported its third-quarter results, showing a revenue increase but a significant net loss [1] Group 2 - For the first three quarters of 2025, the company achieved an operating revenue of 254 million yuan, representing a year-on-year growth of 14.15% [1] - The net profit attributable to shareholders of the parent company was a loss of 16.1268 million yuan, which is an increase in loss of 12.6828 million yuan compared to the same period last year [1] - The basic earnings per share were reported at -0.16 yuan [1]

Core Viewpoint - Lude Environment, established in 2006 and listed in 2020, specializes in high-water-content waste treatment and possesses a proprietary technology system, positioning itself as a high-tech enterprise in the environmental protection sector [1] Group 1: Business Performance - In Q3 2025, Lude Environment reported revenue of 254 million yuan, ranking 10th in the industry, significantly lower than the top competitor, He Feng Co., which had 28.073 billion yuan [2] - The main business segment, biological fermentation feed from liquor lees, generated 110 million yuan, accounting for 62.51% of total revenue, while inorganic solid waste treatment services contributed 28.61 million yuan, or 16.30% [2] - The net profit for the same period was a loss of 14.8082 million yuan, ranking 8th in the industry, with the leading company, Tiankang Biological, reporting a profit of 505 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Lude Environment's debt-to-asset ratio was 49.50%, lower than the industry average of 54.11%, and increased from 46.33% in the previous year [3] - The gross profit margin for the same period was 21.72%, exceeding the industry average of 9.94%, but down from 30.42% year-on-year [3] Group 3: Management and Shareholder Information - The chairman and general manager, Ji Guangming, received a salary of 822,700 yuan in 2024, a decrease of 71,700 yuan from 2023 [4] - As of September 30, 2025, the number of A-share shareholders decreased by 6.68% to 3,867, while the average number of circulating A-shares held per account increased by 7.16% to 26,000 [5] Group 4: Future Outlook - Lude Environment's revenue for the first half of 2025 was 147 million yuan, with a year-on-year growth of 1.08%, but a net loss of 13 million yuan [5] - The company is expected to see revenue growth from 423 million yuan in 2025 to 829 million yuan in 2027, with corresponding net profits projected to rise from 10 million yuan to 81 million yuan during the same period [5]

Group 1 - The core viewpoint of the article highlights the financial performance of Lude Environment for the third quarter of 2023, indicating a revenue increase but a net loss [1] - Lude Environment reported a revenue of approximately 254 million yuan for the first three quarters of 2025, representing a year-on-year increase of 14.15% [1] - The company experienced a net loss attributable to shareholders of approximately 16.13 million yuan, with a basic earnings per share loss of 0.16 yuan [1] Group 2 - As of the report, Lude Environment has a market capitalization of 1.9 billion yuan [2]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 路德生物环保科技股份有限公司（以下简称"公司"）第五届董事会第四次会议于 2025 年 10 月 30 日以现场结合通讯方式召开，本次会议通知已于 2025 年 10 月 24 日以电子邮件的 方式发出。本次会议应出席董事 7 名，实到 7 名。本次会议由董事长季光明先生主持，公司高 级管理人员列席了会议。会议的召集、召开和表决情况符合《中华人民共和国公司法》（以下 简称"《公司法》"）等有关法律、法规及《路德生物环保科技股份有限公司章程》（以下简 称"公司章程"）的规定，形成的决议合法、有效。 二、董事会会议审议情况 路德生物环保科技股份有限公司 证券代码：688156 证券简称：路德环境 公告编号：2025-038 路德生物环保科技股份有限公司 第五届董事会第四次会议决议公告 表决结果：同意 7 票，反对 0 票，弃权 0 票。 本议案经公司第五届董事会审计委员会 2025 年第三次会议审议通过。 特此公告。 路德生物环保科技股份有限公司董事会 2 ...