Project Overview - The project involves the establishment of a thousand-ton bio-based product production line, focusing on 1,3-PDO, calcium lactate, vanillin, and sialic acid processing [3] - The total investment for the project is 50 million yuan, with 5 million yuan allocated for environmental protection [3] - The production capacity upon completion will be 720 tons of 1,3-PDO, 940 tons of calcium lactate, 30 tons of vanillin, and 10 tons of sialic acid annually [3] Company Background - Si Peng Bio-materials (Nantong) Co., Ltd. is a wholly-owned subsidiary of Shanghai Si Peng Technology Co., Ltd., established in May 2022 [4] - The company focuses on negative carbon synthetic biology and is led by a team of scientists from Shanghai Jiao Tong University [4] - It has developed a unique one-step method for synthesizing polylactic acid (PLA) from carbon dioxide, achieving a 70% reduction in carbon emissions [4] - The company has partnered with Angel Yeast to establish a thousand-ton production line, with products including bio-based polyols and biodegradable plastics [4] Industry Insights - The bio-based materials sector is witnessing significant developments, with various companies making strides in bio-manufacturing technologies [8] - The market for bio-based materials is projected to grow substantially, indicating a competitive landscape for companies involved in this field [8]

Core Viewpoint - The stock of Zhuoyue New Energy closed at 49.1 yuan, marking a 2.14% increase, with a rolling PE ratio of 32.50, the lowest in 421 days, and a total market capitalization of 5.892 billion yuan [1] Company Summary - Zhuoyue New Energy specializes in the production of biodiesel and the utilization of bio-based materials from waste oil [1] - The main products include various grades of biodiesel, bioester plasticizers, industrial glycerin, and environmentally friendly alkyd resins [1] - The company is recognized as a national high-tech enterprise and has received multiple accolades as a model for circular economy and innovation in Fujian Province [1] Financial Performance - For Q1 2025, Zhuoyue New Energy reported revenue of 709 million yuan, a year-on-year decrease of 18.39%, while net profit reached 61.31 million yuan, reflecting a year-on-year increase of 111.22% [1] - The sales gross margin stood at 8.67% [1] Industry Comparison - The average PE ratio for the chemical products industry is 44.87, with a median of 40.59, positioning Zhuoyue New Energy at 86th place within the industry [1][2] - The company’s PE ratio is significantly lower than the industry average and median, indicating potential undervaluation [2]

Core Viewpoint - The invention of a new plant oil polyol structure and its manufacturing process has been awarded the Gold Prize at the 25th China Patent Awards, highlighting its potential to innovate the bio-based polyurethane industry and reduce reliance on petrochemical resources [2] Group 1: Innovation and Technology - The project developed an efficient manufacturing process for plant oil polyols, enabling the production of bio-based polyurethane materials at a scale of tens of thousands of tons [2] - The traditional petrochemical-based polyurethane industry faces challenges due to high dependency on imported high-end products and rising costs, which the new bio-based polyols aim to address [2][3] - The team utilized microchemical and process amplification technologies to enhance reaction selectivity and efficiency, allowing for precise construction of desired structures [2][3] Group 2: Market Applications and Impact - The bio-based polyurethane products are expected to fill the market gap for high-performance polyols, which are currently not met by existing products [2] - The technology has led to the establishment of a production line with an annual capacity of 50,000 tons of bio-based polyurethane polyols, covering a total of 150,000 tons of bio-based polyurethane products [3] - These products have diverse applications in tunnel construction, engineering anti-corrosion, building materials adhesives, electronic potting, and healthcare [3]

Core Viewpoint - The K&K team from Nanjing University of Technology has successfully industrialized over 500,000 tons per year of high-performance bio-based materials, showcasing the potential of bio-based materials in various applications and their advantages over petroleum-based materials [1][2]. Group 1: Advantages of Bio-based Materials - Bio-based materials allow for precise structural tuning, overcoming the limitations of traditional petrochemical materials which have a single structure and are difficult to modify [4][5]. - The natural endowment of raw materials, such as amino acids and lignin, provides significant advantages over petrochemical raw materials, enabling more efficient polymerization processes [6]. - Bio-based materials contribute to a closed-loop resource cycle, enhancing sustainability [6]. Group 2: K&K Team's Successful Strategies - The K&K team emphasizes integrated research rather than isolated studies, focusing on fundamental research to explore micro-scale effects and overcome engineering bottlenecks, resulting in over 300 published SCI papers [7][8]. - They have developed common technologies and engineering equipment, securing over 20 international patents and completing the application transformation of more than 60 patents [8][9]. - The team has achieved significant cost reductions of over 65% in production through technological innovations in multi-component processes and polymerization [9]. Group 3: Product Applications and Achievements - The K&K team has established a comprehensive product system based on common biomass raw materials, achieving over 500,000 tons per year of bio-based materials [10][11]. - Notable products include bio-based polyurethane (50,000 + 150,000 tons/year), bio-based plasticizers, and bio-based spandex, with several products receiving global bio-based material certifications [13][17]. - These materials have been applied in major engineering projects, including the Belt and Road Initiative and various infrastructure developments [14][16].

Core Viewpoint - The article discusses the advancements in bio-based materials, particularly focusing on the production of bio-based butadiene and isoprene by major Japanese companies like Zeon Corp, aiming for carbon neutrality and a circular economy [1][2]. Group 1: Company Initiatives - Zeon Corp announced plans to establish a research facility for producing butadiene and isoprene directly from plant materials, aligning with its STAGE30 mid-term business plan [1]. - In February, Zeon partnered with Yokohama Rubber to build a pilot plant for the efficient conversion of bioethanol to butadiene, expected to be operational by 2026 [1][2]. - Other companies, such as Michelin and Trinseo, are also making strides in bio-based butadiene production, with Michelin planning an industrial-scale demonstration plant in early 2024 [6][7]. Group 2: Technological Approaches - The pilot plant focuses on two main technological routes: 1. Ethanol catalytic conversion to butadiene using dual-function catalysts, facing challenges like catalyst coking and cost optimization [2]. 2. Direct synthesis from sugars or butanediol through enzyme catalysis or microbial metabolism, which currently faces issues with byproduct formation and high production costs [2]. Group 3: Market Applications - Butadiene is primarily used in synthetic rubber production, including styrene-butadiene rubber (SBR) and nitrile rubber (NBR), with the largest application being in the production of styrene-butadiene-styrene (SBS) copolymers [3][4]. - The shift towards bio-based rubber is a key focus for many companies, with bio-based butadiene and isoprene being critical components in this transition [5]. Group 4: Domestic Developments - In China, research on bio-based butadiene and isoprene is less common, with notable advancements from Beijing University of Chemical Technology in developing bio-based polybutylene succinate rubber [10][11]. - A demonstration production line for bio-based polybutylene succinate rubber has been established, showcasing its potential in green tire materials and other applications [11][12].

Core Viewpoint - The article highlights the significant advancements in the production of bio-based rubber and its key components, particularly focusing on the initiatives by major companies in Japan, the US, and Europe to transition towards sustainable materials in the rubber industry [1][2][3]. Group 1: Company Initiatives - Zeon Corporation is establishing a research plant to produce butadiene and isoprene directly from plant materials, aligning with its strategic goal of achieving carbon neutrality and a circular economy [1]. - Goodyear has partnered with VISOLIS to produce bio-based isoprene, while Arlanxeo has developed bio-based ethylene from sugarcane waste, achieving a 70% bio-based raw material ratio in their products [3][4]. - Michelin is opening its first industrial-scale bio-based butadiene production demonstration plant, aiming to commercialize the use of plant materials for butadiene production [7]. Group 2: Industry Trends - The global tire industry faces challenges with over 1 billion waste tires, with 6 million tons of tire wear particles contributing to marine plastic pollution [1]. - Developed countries, including the US, Japan, and Europe, are proactively planning the development of bio-based rubber as a substitute for natural rubber due to environmental pressures [2]. - The establishment of a 110,000-ton bio-based degradable polyester rubber project in Jiangsu, China, marks a significant step in the original rubber material sector, with a total investment of 1 billion yuan [10]. Group 3: Technological Developments - Beijing University of Chemical Technology has successfully developed a new generation of high-performance functionalized bio-based polyester-butadiene rubber, showing potential applications in green tire materials and other sectors [5]. - The research team at Beijing University has also created the world's first degradable polyester rubber and the first batch of degradable tires, indicating advancements in sustainable material technology [8].

Core Viewpoint - Kuraray, a Japanese chemical giant, announced the global launch of its 100% bio-based ethylene-vinyl alcohol copolymer (EVOH) product "Circular Eval" by 2025, marking a significant breakthrough in sustainable EVOH materials [1] Group 1: EVOH Overview - Ethylene-vinyl alcohol copolymer (EVOH) is produced through the polymerization and saponification of ethylene and vinyl acetate monomer (VAM), known for its excellent gas barrier properties [2] - The market price of EVOH is approximately 45 yuan per kilogram, primarily used in high-end packaging applications such as food and pharmaceutical packaging, multi-layer composite bottles, automotive fuel tanks, and underfloor heating pipes [3] Group 2: Market Dynamics - Global EVOH production capacity is projected to reach 214,500 tons per year in 2024, with China accounting for only 42,500 tons, indicating a high operating rate and a supply-demand imbalance [5] - Sinopec's Chuanwei completed the commissioning of a 12,000 tons/year industrial facility in mid-2024, filling a significant supply gap for EVOH in mainland China [6] - China primarily relies on imports for EVOH, mainly from Japan, and despite the acceleration of domestic industrial facility construction, it still cannot meet the domestic market demand [7] Group 3: Bio-based EVOH Development - Traditional EVOH relies on petroleum-based ethylene, while Kuraray's new bio-based EVOH uses renewable raw materials from plants, maintaining the same barrier performance while reducing carbon footprint [8] - The core of industrialization for bio-based EVOH lies in addressing the scalability and economic viability of bio-based ethylene production [9] Group 4: Bio-based Ethylene Insights - Bio-based ethylene represents a new pathway for ethylene production, derived from renewable biomass resources such as crop residues and wood cellulose, through advanced biotechnological and chemical conversion processes [10] - Compared to petroleum-based ethylene, bio-based ethylene significantly reduces dependence on fossil fuels and lowers carbon dioxide emissions, offering notable environmental advantages [11] Group 5: Technological Pathways - Various synthesis methods for bio-based ethylene include dehydration of bioethanol, dehydration of biopropanol, methanol-to-olefins (MTO), and Fischer-Tropsch synthesis, each facing technological and cost challenges [13] - The predominant method currently is the dehydration of bioethanol, which needs to address issues related to non-food source preparation and scalability [14] Group 6: Future Outlook - With advancements in technology and application expansion, the bio-based ethylene sector is expected to experience rapid growth, driving the development of a series of downstream high-value materials [15]

Core Viewpoint - The article discusses the intensifying global competition for carbon neutrality and how the bio-based industry can address three major contradictions: reliance on upstream raw materials, certification barriers in the midstream, and limitations in downstream applications [1]. Group 1: Event Overview - The 2025 Bio-based Industry Strategic Seminar was held from May 25-27 in Shanghai, focusing on industry breakthroughs [3]. - The seminar gathered 25 representatives from industry associations, well-known brands, material companies, and research institutions to discuss three core topics: market reshaping, policy collaboration, and technological breakthroughs [6]. Group 2: Key Insights from the Seminar - **Need for Certification and Traceability**: International brand representatives emphasized that non-food bio-based raw material certification (C14 testing + supply chain traceability) has become a prerequisite for collaboration [10]. - **Price Tolerance**: Brands are generally willing to accept a price increase of up to 10%, but a doubling of costs would hinder promotion [11]. - **Performance and Application**: Companies highlighted the need for bio-based materials to meet specific performance requirements, such as lightweight and decorative features for automotive parts, and integrated packaging solutions for cosmetics [12][14]. Group 3: Strategies for Bio-based Material Companies - **Cost and Purity Challenges**: The bio-based furan industry is focusing on overcoming the cost and purity challenges of FDCA, which is currently priced at 40 times that of PTA [14]. - **Identifying Unique Value Propositions**: Companies agreed that bio-based materials should leverage unique performance advantages rather than merely replacing petroleum-based materials [15]. - **Policy Collaboration**: There is a call for China to establish a bio-based material standard system in conjunction with the EU's packaging regulations to facilitate non-food raw material development [16]. Group 4: AI Empowerment in Bio-manufacturing - Companies shared practices of using AI to reduce R&D costs by 30% through protein modification, enhancing enzyme efficiency, and improving accuracy and speed in research [16]. Group 5: Regional Development Initiatives - Zhoushan is positioning itself as a new hub for the bio-based industry by attracting projects related to PLA, PHA, FDCA-PEF, and providing comprehensive support including raw material supply and industrial land [17]. Group 6: Consensus and Conclusions - The seminar reached three core conclusions: 1. Upstream raw materials must shift to non-food sources for large-scale commercialization, driven by policy and technological innovation [20]. 2. Accelerating the establishment of carbon footprint standards aligned with international norms is essential to break down green trade barriers [20]. 3. Collaboration between brands and material suppliers is necessary to redefine applications from "performance substitution" to "value creation" [20].

Core Insights - The 10th Bio-based Conference and Exhibition was held in Shanghai from May 26-27, 2025, focusing on AI-enabled innovation in new materials and applications in bio-based materials [1][3][19] - The conference featured discussions on the development trends of the bio-manufacturing industry in China, highlighting its potential as a global bio-manufacturing center [3] - Various experts presented on the integration of AI in chemical new materials research and production, emphasizing the challenges and opportunities in this field [7][16] Group 1: Industry Trends and Insights - YiKai Capital's partner shared insights on the definition and market size of the global and Chinese bio-manufacturing industry, along with development trends and capital market reviews for 2024 and 2025 [3] - The Shanghai Academy of Science's researcher discussed a dual-driven molecular pre-training model that significantly improved reaction selectivity by five times and designed new biodegradable polymer materials [5] - The roundtable discussions included perspectives from investment institutions and scientific experts on how AI can enhance the efficiency of bio-based material research and development [9][15] Group 2: AI Applications in Material Science - The market director of Magnesium Technology presented on the application of AI in the research and production of chemical new materials, addressing the challenges faced in implementing these technologies [7] - A report on high-resolution atomic imaging analysis using deep learning highlighted the limitations of traditional models and introduced a new framework for analyzing structural diversity [11] - The application of AI in polymer material design was discussed, showcasing recent advancements and case studies in composite materials and organic photovoltaic materials [13]

Core Insights - The 10th Bio-based Conference and Exhibition successfully concluded in Shanghai, featuring over 100 speakers and 60 participating companies, attracting more than 1000 attendees [1][4][5] Group 1: Conference Overview - The conference focused on international trends, opportunities in the bio-based industry, technology and industrialization, downstream applications, and innovation [1] - Key activities included three major awards, over 20 specialized sessions, and more than 10 core topic discussions, receiving high praise from the industry [1] Group 2: Key Presentations - Notable speakers included academicians and industry leaders discussing topics such as the development trends of the petrochemical industry during the 14th Five-Year Plan, advancements in bio-based polymers, and the industrialization of biodegradable rubber [1][4] - Presentations covered a wide range of subjects including nanocellulose, bio-based olefins, and sustainable thermosetting resins [4][5] Group 3: Sustainable Applications - The conference featured specialized forums on sustainable applications in automotive and packaging, discussing the green transition trends in the automotive industry and sustainable packaging developments [7][9] - Key discussions included the challenges and opportunities in sustainable packaging applications and the use of bio-based materials in automotive applications [9][7] Group 4: International Cooperation - The International Cooperation Forum highlighted Finland's leadership in sustainable development, challenges and opportunities in the European bio-based industry, and investment opportunities in the bio-plastics sector [13] - Discussions also included synthetic biological protein fibers and China's innovation cooperation practices [13] Group 5: Future Materials and AI - The AI Empowered Future Materials Innovation Development Forum addressed China's emergence as a global bio-manufacturing center and the role of AI in chemical new materials research and production [18][19] - Key themes included the challenges of bio-manufacturing and the opportunities presented by the AI era [18] Group 6: Industry-Specific Forums - The HMF-FDCA-PEF Industry Forum focused on the industrialization of non-grain glucose dicarboxylic acid and the sustainable material applications in cosmetic packaging [21] - Discussions also included the development trends of bio-based PEF materials and the engineering challenges in FDCA mass production [21] Group 7: Bio-based Leather - The Sustainable Applications Forum on Bio-based Leather featured discussions on mycelium leather materials and low-carbon circular production [26] - The forum also explored the core value and commercialization of the bio-based leather industry [26]