重要内容提示： 证券代码：688196 证券简称：卓越新能 公告编号：2025-012 龙岩卓越新能源股份有限公司 关于召开 2024 年年度股东大会的通知 本公司董事会及全体董事保证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、 召开会议的基本情况 （一） 股东大会类型和届次 2024 年年度股东大会 召开日期时间：2025 年 5 月 13 日 14 点 0 分 召开地点：福建省龙岩市新罗区东宝路 830 号龙岩卓越新能源股份有限公 司东宝生物能源分公司会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 5 月 13 日 至 2025 年 5 月 13 日 1 | 序号 | 议案名称 | 投票股东 类型 | | --- | --- | --- | | | | A 股股东 | | | 非累积投票议案 | | | 1 | 关于 年年度报告及摘要的议案 2024 | √ | | 2 | 关于 2024 年度董事会工作报告的议案 | √ | | 3 | 关于 年 ...

证券代码：688196 证券简称：卓越新能 公告编号：2025-013 龙岩卓越新能源股份有限公司 第五届监事会第六次会议决议公告 本公司监事会及全体监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、监事会会议召开情况 龙岩卓越新能源股份有限公司（以下简称"公司"）于 2025 年 4 月 17 日 在公司东宝生物能源分厂会议室以现场方式举行第五届监事会第六次会议（下 称"本次会议"）。本次会议通知已于 4 月 7 日通过专人送达方式发送给全体 监事。本次会议由监事会主席林春根先生主持，会议应到监事 3 名，实到监事 3 名，本次会议的召集、召开符合《公司法》等法律、法规、规范性文件和 《龙岩卓越新能源股份有限公司章程》的有关规定。 二、监事会会议审议情况 监事会成员经认真审议，以投票表决的方式通过如下决议： 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票。 本议案尚需提交股东大会审议。 （二）审议通过了《关于 2024 年年度报告及摘要的议案》 经审核，监事会认为公司 2024 年年度报告的编制和审核程序符合相关法律 法规和公 ...

证券代码：688196 证券简称：卓越新能 公告编号：2025-006 龙岩卓越新能源股份有限公司 2024 年度利润分配预案及 2025 年中期现金分红规划的公告 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。 重要内容提示： 每股分配比例： 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日期将 在权益分派实施公告中明确。在实施权益分派的股权登记日前公司总股本发生变 动的，拟维持每股分配比例不变，相应调整分配总额，并将另行公告具体调整情 况。 公司未触及《上海证券交易所科创板股票上市规则（2024 年 4 月修订）》（以 下简称《科创板股票上市规则》）第 12.9.1 条第一款第（八）项规定的可能被 实施其他风险警示的情形。 一、利润分配方案内容 （一）2024 年年度利润分配方案的具体内容 经容诚会计师事务所（特殊普通合伙）审计，截至 2024 年 12 月 31 日，龙 岩卓越新能源股份有限公司（以下简称"公司"）2024 年度实现归属于母公司 所 有 者 的 净 利 润 为 149,018,836.4 ...

证券代码：688196 证券简称：卓越新能 公告编号：2025-011 公司 2023 年年度股东大会审议通过了《关于提请股东大会授权董事会以简 易程序向特定对象发行股票的议案》，同意授权董事会全权办理以简易程序向 特定对象发行股票的有关事宜，授权期限自 2023 年年度股东大会审议通过之日 起至 2024 年年度股东大会召开之日止。具体内容详见公司于 2024 年 4 月 20 日 在上海证券交易所网站（www.sse.com.cn）披露的《关于提请股东大会授权董 事会以简易程序向特定对象发行股票的公告》（公告编号：2024-011）。 二、关于延长股东大会授权有效期的相关情况 鉴于公司 2023 年年度股东大会授权董事会以简易程序向特定对象发行股票 的有效期即将届满，为确保本次发行事宜的顺利推进，依照相关法律法规的规 定，特此提请授权期限延长至 2025 年年度股东大会召开之日止，授权的其他内 容不变。 在上述授权期限内，公司董事会可以继续实施 2024 年度以简易程序向特定 对象发行股票事项，也可以在前次以简易程序向特定对象发行股票事项完成或 终止后，决定再次实施以简易程序向特定对象发行股票的事项。 1 ...

Financial Performance - The company's operating revenue for 2024 reached ¥3,563,325,220.13, representing a 26.73% increase compared to ¥2,811,721,948.54 in 2023[23]. - Net profit attributable to shareholders for 2024 was ¥149,018,836.41, an increase of 89.57% from ¥78,610,773.22 in 2023[23]. - The net profit after deducting non-recurring gains and losses was ¥134,852,309.83, up 24.80% from ¥108,055,606.34 in the previous year[23]. - The company's total assets increased by 16.30% to ¥3,566,311,420.24 at the end of 2024, compared to ¥3,066,356,254.44 at the end of 2023[24]. - The net assets attributable to shareholders rose to ¥2,792,727,739.09, a 4.20% increase from ¥2,680,255,609.91 in 2023[24]. - Basic earnings per share for 2024 were ¥1.24, reflecting an increase of 87.88% from ¥0.66 in 2023[25]. - The cash flow from operating activities for 2024 was ¥118,848,954.33, a significant recovery from a negative cash flow of ¥322,772,806.42 in 2023[23]. - The company reported a quarterly revenue of ¥1,063,824,182.76 in Q2 2024, showing strong performance in the mid-year[26]. - The net profit attributable to shareholders in Q3 2024 was negative at -¥8,812,653.98, indicating challenges faced during that quarter[27]. - The sales volume of biodiesel increased by 6.83%, with sales prices rising by 21.82%, contributing to the overall revenue growth[81]. Research and Development - The company's R&D expenditure as a percentage of operating revenue decreased to 3.39% from 5.30% in the previous year[25]. - The company invested CNY 120.6487 million in R&D in 2024, focusing on innovations in waste oil processing and digital upgrades, resulting in 19 authorized patents[36]. - Total R&D expenditure for the year was approximately ¥120.65 million, a decrease of 19.03% from the previous year, with R&D expenditure as a percentage of revenue dropping from 5.30% to 3.39%[59]. - The number of R&D personnel has decreased from 129 to 124, while the proportion of R&D staff in the total workforce increased from 19.88% to 20.33%[65]. - The average salary of R&D personnel is CNY 134,949.05, showing a slight increase from the previous period[65]. - The company is actively developing new technologies for biodiesel production, including a targeted removal technology for waste oil and a new catalyst for biomass fuel[62]. Corporate Governance - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[9]. - The company does not have any special arrangements for corporate governance[10]. - The company has established a governance structure that includes a board of directors with 7 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[111]. - The company held 2 shareholder meetings during the reporting period, ensuring all shareholders, especially minority shareholders, could exercise their rights[110]. - The company maintains strict independence from its controlling shareholder, ensuring a complete and independent business system[110]. - The company has a clear and transparent decision-making process for profit distribution, ensuring the protection of minority shareholders' rights[139]. Market Expansion and Strategy - The company established a regional headquarters in Saudi Arabia to enhance cooperation in the Middle East and expanded its market presence in non-EU regions[35]. - The company is actively expanding overseas channels, with significant investments in establishing biodiesel production bases in Singapore and Thailand[74]. - The company plans to leverage its international presence and brand advantages to navigate challenges in the market restructuring phase by 2025[108]. - Market expansion plans include entering three new international markets by the end of 2024, aiming for a 10% market share in each[118]. - The company is considering strategic acquisitions to enhance its product portfolio, with a target of acquiring two companies within the next year[118]. Environmental and Social Responsibility - The company emphasizes sustainable development by producing biodiesel and bio-based materials from waste oil resources[107]. - The company has invested approximately 11.73 million yuan in environmental protection during the reporting period[152]. - The company has established a mechanism for environmental protection and has not been listed as a key pollutant discharge unit by environmental authorities[153]. - The company has achieved compliance with environmental standards for wastewater, waste gas, and noise emissions, meeting both regulatory inspections and self-monitoring targets[158]. - The company donated ¥95.39 million to support women's care, education, and community sports activities[168]. Financial Management - The company plans to distribute a cash dividend of 5.00 CNY per 10 shares, totaling 60,000,000.00 CNY (including tax) based on a total share capital of 120,000,000 shares as of December 31, 2024[7]. - The cumulative cash dividend amount over the last three accounting years is 278,400,000.00 RMB, with an average annual net profit of 226,452,822.15 RMB, resulting in a cash dividend ratio of 122.94%[143]. - The company has a total of RMB 128,790.00 million in raised funds, with RMB 120,089.62 million utilized by the end of the reporting period[197]. - The company has bank wealth management products with a total amount of RMB 129,698.00 million, of which RMB 27,547.39 million remains unexpired[194]. - The company has a total of RMB 89,460.00 million in bank wealth management products with an annualized return rate of 1.66%[194]. Risk Management - There are no significant risks that could materially affect the company's operations during the reporting period[4]. - The company is committed to continuous R&D investment and improving its supply chain to address potential risks in export business and market competition[74]. - The company is facing challenges due to the EU's anti-dumping measures, with a potential tax rate of 23.4% applicable to its products starting February 12, 2025[52]. - The European carbon border adjustment mechanism (CBAM) will fully impose a "carbon tariff" starting in 2027, impacting the biodiesel market[53]. Audit and Compliance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[6]. - The current audit firm, Rongcheng Accounting Firm, has been engaged for 6 years with an audit fee of 670,000 RMB[187]. - The internal control audit firm is also Rongcheng Accounting Firm, with a fee of 200,000 RMB[187]. - The company has not faced any penalties from securities regulatory authorities in the past three years[123]. - There are no significant lawsuits or arbitration matters reported for the current year[188].

Financial Performance - The company's operating revenue for Q1 2025 was ¥708,775,162.52, a decrease of 18.39% compared to ¥868,441,483.85 in the same period last year[4] - Net profit attributable to shareholders increased by 111.22% to ¥61,312,199.00 from ¥29,028,166.78 year-on-year[4] - The net profit after deducting non-recurring gains and losses rose by 135.16% to ¥56,633,403.25 compared to ¥24,082,524.06 in the previous year[4] - Basic earnings per share increased by 112.50% to ¥0.51 from ¥0.24 year-on-year[4] - Total operating revenue for Q1 2025 was ¥708,775,162.52, a decrease of 18.4% compared to ¥868,441,483.85 in Q1 2024[15] - Net profit for Q1 2025 reached ¥61,312,199.00, an increase of 111.4% compared to ¥29,028,166.78 in Q1 2024[16] - The basic earnings per share for Q1 2025 was ¥0.51, up from ¥0.24 in Q1 2024, representing a growth of 112.5%[16] Cash Flow - The net cash flow from operating activities was ¥54,013,735.88, a significant improvement from a negative cash flow of ¥13,075,055.56 in the same period last year[4] - Operating cash flow for Q1 2025 was ¥54,013,735.88, a significant improvement from a negative cash flow of ¥13,075,055.56 in Q1 2024[17] - Cash received from sales and services in Q1 2025 was ¥523,050,636.16, a decrease of 33.5% from ¥785,687,980.01 in Q1 2024[17] - The net cash flow from investment activities amounted to $300,626,970.32, showing a significant increase compared to the previous period[18] - Cash inflow from financing activities totaled $50,000,000.00, while cash outflow for debt repayment was $96,000,500.00[18] - The net increase in cash and cash equivalents for the period was $307,762,653.48, reflecting strong liquidity management[18] - The ending balance of cash and cash equivalents reached $557,283,879.09, up from $249,521,225.61 at the beginning of the period[18] - The company reported a total cash outflow from investment activities of $181,542,135.07, indicating ongoing investment in growth initiatives[18] - The net cash flow from financing activities was negative at -$51,621,646.95, suggesting higher debt repayments than new borrowings[18] - The impact of exchange rate fluctuations on cash and cash equivalents was a positive $4,743,594.23, contributing to overall cash growth[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,636,876,971.36, reflecting a 1.98% increase from ¥3,566,311,420.24 at the end of the previous year[5] - The company's current assets reached RMB 2,198,432,228.38, up from RMB 1,877,700,197.73, indicating a significant increase of about 17.0%[12] - The accounts receivable increased to RMB 93,368,485.82 from RMB 46,690,083.14, marking a rise of about 99.9%[11] - The company's inventory was reported at RMB 950,138,949.31, slightly down from RMB 952,616,548.34, showing a decrease of approximately 0.3%[12] - The total liabilities decreased to RMB 2,198,432,228.38 from RMB 2,188,611,222.51, indicating a slight reduction of about 0.1%[12] - The company's short-term borrowings were reported at RMB 175,724,521.34, down from RMB 197,482,492.32, reflecting a decrease of approximately 11.0%[12] - The total non-current assets were RMB 1,438,444,742.98, down from RMB 1,688,611,222.51, indicating a decline of about 14.8%[12] - The company's total liabilities as of the end of the reporting period were ¥782,268,860.26, compared to ¥773,583,681.15 in the previous year, showing a slight increase of 1.8%[14] - Total equity attributable to shareholders increased to ¥2,854,608,111.10 from ¥2,792,727,739.09, marking a growth of 2.2%[14] Research and Development - R&D investment totaled ¥23,899,836.20, down 21.31% from ¥30,371,115.33 in the same period last year[4] - R&D investment as a percentage of operating revenue was 3.37%, a decrease of 0.13 percentage points from 3.50%[5] - Research and development expenses decreased to ¥23,899,836.20 in Q1 2025 from ¥30,371,115.33 in Q1 2024, reflecting a reduction of 21.3%[15] Other Information - The company reported non-recurring gains of ¥4,678,795.75, primarily from government subsidies and other non-operating income[7] - The company has not reported any significant changes in shareholder structure or related party transactions during the reporting period[11] - The company plans to implement new accounting standards starting in 2025, which may affect future financial reporting[18]

卓越新能公告，2025年第一季度营收为7.09亿元，同比下降18.39%；净利润为6131.22万元，同比增长 111.22%。 ...

证券研究报告 | 2025年04月15日 卓越新能（688196.SH） 5 万吨天然脂肪醇项目投产，生物柴油出海前景广阔 公司研究·公司快评 基础化工·化学制品 投资评级：优于大市（维持） 证券分析师： 杨林 010-88005379 yanglin6@guosen.com.cn 执证编码：S0980520120002 证券分析师： 薛聪 010-88005107 xuecong@guosen.com.cn 执证编码：S0980520120001 优于大市 事项： 公司公告：2025 年 4 月 14 日，公司公告"年产 5 万吨天然脂肪醇项目"投产。 国信化工观点： 1）公司"年产 5 万吨天然脂肪醇项目"投产，有望大幅增厚公司业绩。公司采用脂肪酸甲酯加氢工艺技 术制备天然脂肪醇，已完成装置联动调试和投料试产工作，产品的各项技术指标符合国家标准。天然脂肪 醇作为生物基表面活性剂主要原料之一，可广泛应用于洗涤剂、化妆品、医药等领域，该项目投产将进一 步拓展公司生物柴油在生物基化学品领域的应用，实现了国产替代。脂肪醇传统原料为棕榈仁油，目前价 格 2100 美元/吨，公司原料为废弃油脂，原料价格在 1000- ...

Core Viewpoint - The company, Zhuoyue New Energy, has launched a new project to produce 50,000 tons of natural fatty alcohol, aiming to capitalize on market growth and extend its biodiesel processing industry chain [2][3]. Group 1: Company Developments - The natural fatty alcohol project has recently commenced production, enhancing the company's ability to leverage the growth potential in the natural fatty alcohol market [2]. - Zhuoyue New Energy is a pioneer in China's biodiesel industrial production and the first to achieve industrial-scale production from waste oils [2]. - The company plans to expand production capacity based on operational performance and market demand [2]. Group 2: Financial Performance - The company expects to achieve a revenue of 3.611 billion yuan in 2024, representing a year-on-year growth of 28.42%, and a net profit of 158 million yuan, reflecting a growth of approximately 100.41% [3]. - The rapid growth in performance is attributed to the company's proactive expansion during a favorable industry cycle [3]. Group 3: Market Conditions - The domestic fatty alcohol market is experiencing a supply shortage, leading to a continuous increase in prices, with the mainstream price of medium-chain alcohol (C12-14) reaching 23,500 yuan per ton, up 13% month-on-month and 9.3% year-to-date [3]. - The company's production utilizes waste oils as the primary raw material, providing significant economic and environmental advantages [3]. Group 4: Future Outlook - The company is expected to maintain rapid profit growth in 2025, supported by the advantages of its overseas sales network and the ongoing development of the 50,000-ton fatty alcohol project [4].

Group 1 - The core viewpoint of the news is that Zhuoyue New Energy has shown a significant increase in stock price and has a relatively low PE ratio compared to the industry average, indicating potential investment interest [1][2] - As of April 14, Zhuoyue New Energy's stock closed at 44.2 yuan, up 5.51%, with a rolling PE ratio of 33.67 times and a total market capitalization of 5.304 billion yuan [1] - The average PE ratio for the chemical products industry is 50.85 times, with a median of 36.13 times, positioning Zhuoyue New Energy at 97th place in the industry ranking [1][2] Group 2 - Zhuoyue New Energy specializes in the research and production of biodiesel and bio-based new materials from waste oil resources, with main products including biodiesel, industrial glycerin, bioester plasticizers, and environmentally friendly alkyd resins [1] - The company is recognized as a national "high-tech enterprise" and has established several research centers, including a provincial enterprise technology center and a key laboratory for biomass energy [1] - For the latest financial results, the company reported a revenue of 2.974 billion yuan for the third quarter of 2024, representing a year-on-year increase of 17.19%, while net profit was 92.354 million yuan, showing a year-on-year decrease of 39.66% [1]