这只新股又给追进去的投资者上了一课，上市9天直接跌了7天，除了上市第一天拉了一波，剩下的基本上每天都在下跌，而且动不动就是低开低走，不管 是第一天追进去的，还是后边抄底的，全部被套，毫不客气！ "以为是肉签，没想到是杀猪盘！"这只新股自11月5日登陆沪市主板以来，在9个交易日内走出7根阴线，股价从巅峰一路俯冲至47元区间，让追高散户深 度套牢，直呼"这哪里是上市融资，分明是来卖公司套现的"。 那么这是哪只股票？公司主要是做什么的？公司业绩怎么样？保荐机构是哪家？我们一起来看看！ 这只股票就是603334丰倍生物！ 公司主业："地沟油炼金"，却遇海外壁垒 丰倍生物是一家聚焦废弃资源综合利用的高新技术企业，核心业务被市场称为"地沟油炼金"——以废弃油脂为原料，打造"废弃油脂—生物柴油—生物基 材料"的完整产业链，产品涵盖生物柴油、农药助剂、化肥助剂、DD油等，广泛应用于农化、工业等领域。作为国内生物柴油行业第一梯队企业，公司不 仅手握欧盟ISCC资质认证，还与丰乐种业、久易股份等农化龙头及壳牌、BP等国际企业建立合作，在农化细分应用领域市场占有率位居前列。 保荐机构赚得盆满，散户亏得惨烈 一边是散户的血泪亏损，一 ...

Core Viewpoint - The rapid decline of Fengbei Bio's stock price by nearly 30% within three days of its IPO raises concerns about the company's financial health and governance, particularly as the actual controller has already cashed out over 65 million yuan before the stock plunge [3][7]. Financial Performance - Fengbei Bio's revenue increased from 1.709 billion yuan in 2022 to 1.949 billion yuan in 2024, but net profit attributable to shareholders decreased from 133 million yuan to 124 million yuan, marking two consecutive years of negative growth [3]. - The company's cash flow from operating activities plummeted by 86.2%, from 162 million yuan in 2023 to 22.43 million yuan in 2024, and further deteriorated to -7.5 million yuan in the first half of 2025 [4][5]. Profitability Issues - The gross profit margin has been declining sharply, from 13.95% in 2023 to 9.50% in the first half of 2025, primarily due to an increase in the sales proportion of low-margin industrial-grade mixed oil [5][7]. Trade Barriers Impact - The imposition of a 23.7% anti-dumping tax by the EU in July 2024 led to a drastic reduction in exports, with export revenue dropping from 434 million yuan in 2023 to 50.51 million yuan in 2024, a decline of over 85% [7]. - The average selling price of biofuels decreased by 25.51% from 9,800 yuan per ton in 2022 to 7,300 yuan per ton in 2024, alongside significant price drops in bio-based materials and chemical oils [7]. Expansion Strategy Concerns - Despite a decline in capacity utilization from 99.84% in 2023 to 76.31% in 2024, Fengbei Bio plans to raise 750 million yuan for capacity expansion projects, which may lead to increased depreciation and amortization costs of approximately 58 million yuan annually [8]. - The company's expansion strategy is risky as it heavily relies on market demand, which is currently showing signs of oversupply [8]. Regulatory and Compliance Issues - Fengbei Bio's subsidiaries have faced multiple environmental compliance issues, being listed as key pollutant units and ordered to rectify environmental problems [10]. - There are ongoing legal issues related to a fire incident causing significant inventory loss, and past actions involving questionable financial practices raise concerns about regulatory compliance [10][13]. Market Sentiment and Risks - Historical data indicates that new stocks with a first-day increase of over 150% have a high likelihood of declining in the following months, with an average drop of 27% after one month and 28% after three months [12]. - The company's IPO has become a cautionary tale for investors regarding the risks associated with speculative trading in newly listed stocks [13].