Core Insights - Fengbei Biotechnology is a pioneer in the comprehensive utilization of waste oil resources, with significant advantages in R&D, product application, and quality control [2] - The company has received numerous accolades, including being recognized as a national-level "specialized, refined, and innovative" small giant enterprise and a unicorn cultivation enterprise in Suzhou [2] - As of June 30, 2025, the company holds 135 patents, including 33 domestic invention patents and 3 international invention patents, and has obtained ISCC certification for the EU market [2] Company Highlights - Fengbei Biotechnology has established a strong customer base due to its core technological advantages, which supports the sustainable and healthy development of its business [2] - The company has been awarded the Innovation Contribution Award by the China Pesticide Association and the first prize of the China Coal Industry Science and Technology Award [2] - The company aims to provide investors with a clear understanding of its investment value and opportunities through its online roadshow [3]

Core Viewpoint - The company aims to become a leading enterprise in the global oil fat resource comprehensive utilization industry, focusing on three main directions: basic research, material development, and application development [1][2]. Business Overview - The company's main business is the comprehensive utilization of waste oil resources, primarily producing resource-based products from waste oils, with oil fat chemical products as a supplementary business [1][2]. - The company has developed a production chain of "waste oil - biofuels (biodiesel) - bio-based materials" and provides oil fat chemical products to customers based on its core technology and channel advantages [1][2]. Financial Performance - The sales revenue from the waste oil resource comprehensive utilization business has shown rapid growth, with revenues of 1.36 billion, 1.41 billion, 1.59 billion, and 1.35 billion yuan for the years 2022 to 2025, accounting for 79.53%, 81.94%, 81.68%, and 91.33% of the main business income respectively [3]. - The company's total operating income for the reporting period was 1.71 billion, 1.73 billion, 1.95 billion, and 1.48 billion yuan, with a year-on-year growth of 49.62% in the first half of 2025 [9]. Research and Development - The company has invested in R&D, with expenses of 51.35 million, 58.57 million, 53.57 million, and 34.45 million yuan over the reporting period, representing 3.00%, 3.39%, 2.75%, and 2.74% of operating income respectively [10]. - As of June 30, 2025, the company has obtained 135 patents, including 33 domestic invention patents and 3 international invention patents [4]. Development Strategy - The company aims to enhance its technology level and expand the application of bio-based materials, while also increasing production capacity and stabilizing procurement channels [11][12]. - Future plans include exploring biodiesel applications in aviation and shipping, and enhancing the supply chain layout with upstream food processing enterprises [11][12][13]. Industry Position - The company is positioned in the waste resource comprehensive utilization industry, specifically in the processing of non-metal waste [18]. - The industry is supported by national policies encouraging the comprehensive utilization of waste oils, with significant potential for growth due to the increasing production of waste oils from the food service sector [20]. Market Share - The company is among the top tier in the domestic waste oil resource comprehensive utilization industry, with a biodiesel production capacity of 105,000 tons, ranking sixth in China's biodiesel industry [24]. - The company's biodiesel production accounts for approximately 4.68% of the national biodiesel output, which is projected to be around 1.71 million tons in 2024 [24]. Fundraising and Investment - The total amount of funds raised will be used for projects related to the company's main business, including the construction of new production facilities for various bio-based products [25][26]. - The implementation of these projects is expected to expand market share and enhance profitability [26][28].

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].

Core Viewpoint - The company, Suzhou Fengbei Biotechnology Co., Ltd. (Fengbei Bio), is set to undergo its initial public offering (IPO) review by the Shanghai Stock Exchange, focusing on the comprehensive utilization of waste oil resources, which aligns with national policy directions [1][22]. Company Overview - Fengbei Bio was established in July 2014 and completed its share reform in March 2022, with its headquarters located in Suzhou, Jiangsu Province [2]. - The actual controller of the company, Pingyuan, holds 85.4% of the shares through direct and indirect means [2]. - The company has developed a production chain from waste oil to biodiesel and bio-based materials [2]. Business Model and Products - The primary raw material for Fengbei Bio's operations is waste oil, sourced from various sectors including food processing, chemical industries, and restaurants [3]. - The main products include bio-based materials (such as pesticide and fertilizer additives) and biodiesel, with a smaller portion of oil chemical products [3][10]. - The waste oil resource utilization business accounts for approximately 80% of the company's main business revenue [10]. Financial Performance - The company's revenue has shown growth, with figures of 1.709 billion, 1.728 billion, and 1.949 billion yuan for the years 2022, 2023, and 2024 respectively, while net profit has fluctuated [7]. - In 2024, the company reported a slight decline in net profit to 124 million yuan, despite an increase in revenue [7]. - The gross profit margin has varied, with figures of 13.55%, 13.95%, and 11.67% over the same period, influenced by the cost of waste oil recovery [12]. Market Position and Industry Context - Fengbei Bio 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 [18][23]. - The biodiesel industry in China faces challenges such as low capacity utilization and high production costs due to complex processing of waste oil [21][22]. - The company plans to raise 750 million yuan through its IPO to invest in expanding production capacity for various bio-based products [22]. Competitive Landscape - Compared to peers like Zhuoyue Xinneng and Jiaao Environmental Protection, Fengbei Bio maintains a higher gross profit margin due to differences in product and customer structure [14][15]. - The company has established partnerships with several agricultural enterprises and global commodity traders, enhancing its market presence [16].