Core Viewpoint - The company Suzhou Fengbei Biotechnology Co., Ltd. is preparing for its IPO on the Shanghai Stock Exchange, focusing on the comprehensive utilization of waste oil resources, which aligns with national policy directions [1][20]. Company Overview - Founded in July 2014 and headquartered in Suzhou, Jiangsu, Fengbei Biotechnology specializes in the comprehensive utilization of waste oil resources [1][2]. - The actual controller of the company, Pingyuan, holds 85.4% of the shares before the IPO [1]. - The company has developed a production chain from waste oil to biodiesel and bio-based materials [2]. Business Structure and Products - The main raw material for Fengbei's operations is waste oil, sourced from various sectors including food processing, chemical industries, and restaurants [4]. - The primary products include bio-based materials (such as pesticide and fertilizer additives) and biodiesel, with a smaller portion of oil chemical products [4][5]. - The revenue from the waste oil resource utilization business constitutes approximately 80% of the company's main business income [8]. Financial Performance - The company's revenue has shown growth, with figures of 1.709 billion yuan, 1.728 billion yuan, and 1.949 billion yuan for the years 2022, 2023, and 2024 respectively, while net profit has fluctuated [6]. - In 2024, the company reported a slight decline in net profit to 124 million yuan, despite an increase in revenue [6][11]. - The gross profit margin has experienced fluctuations, with rates of 13.55%, 13.95%, and 11.67% over the past three years [11][8]. Market Position and Industry Context - Fengbei holds a market share of approximately 4.68% in the biodiesel sector, with a production capacity of 105,000 tons, ranking sixth in the industry [15][19]. - The biodiesel industry in China faces challenges such as low capacity utilization and competition from petroleum-based diesel, which affects pricing and market acceptance [18][20]. - The company is positioned in a sector encouraged by national policies aimed at reducing reliance on fossil fuels and improving environmental conditions [15]. Future Prospects - The company plans to raise 750 million yuan through its IPO to invest in expanding production capacity for various products, including biodiesel and industrial-grade mixed oils [20]. - The future success of Fengbei will depend on optimizing raw material procurement channels and enhancing cost efficiency [20].
“地沟油”领域冲出一家IPO，年入19亿，位于江苏苏州
3 6 Ke·2025-08-07 08:27