Core Viewpoint - N Fengbei (603334) debuted today with a significant opening increase of 169.50%, and by midday, the increase expanded to 185.91%, indicating strong market interest and trading activity [1] Company Overview - N Fengbei is a high-tech enterprise in the field of waste resource utilization, primarily focusing on the production of resource-based products from waste oils [1] - The company has developed a comprehensive industrial chain for waste resource recycling, which includes "waste oils - biofuels (biodiesel) - bio-based materials" [1] - N Fengbei leverages its core technology in oil fat utilization and channel advantages to provide oil fat chemicals to customers [1] Financial Highlights - The total number of shares issued in this IPO is 35.90 million, with an online issuance of 24.21 million shares at a price of 24.49 yuan per share [1] - The issuance price corresponds to a price-to-earnings (P/E) ratio of 30.47, significantly lower than the industry average P/E ratio of 64.73 [1] - The total funds raised from the IPO amount to 879 million yuan, which will be allocated to projects including the construction of a 300,000-ton annual production facility for methyl oleate, a 10,000-ton industrial-grade mixed oil facility, and other agricultural microbial agents and fertilizers [1]

Core Viewpoint - Fengbei Bio (603334) has been listed on the Shanghai Stock Exchange, focusing on the comprehensive utilization of waste resources, particularly in producing resource-based products from waste oils [1] Company Overview - Fengbei Bio is a high-tech enterprise in the field of waste resource utilization, primarily engaged in the production of resource-based products from waste oils [1] - The controlling shareholder and actual controller of Fengbei Bio is Pingyuan, who directly held 59.78% of the company's shares before the issuance [1] - After the issuance, Pingyuan directly holds 44.82% of the shares, controlling a total of 64.03% of the company through direct and indirect means [1] Fundraising Details - The total amount raised from the issuance is 879.191 million yuan, with a net amount of 794.437 million yuan after deducting issuance costs [1] - The raised funds will be used for new projects, including the annual production of 300,000 tons of oleic acid methyl ester, 10,000 tons of industrial-grade mixed oil, 50,000 tons of agricultural microbial agents, 10,000 tons of compound microbial fertilizers, and by-products such as 50,000 tons of biodiesel and 8,200 tons of glycerin [1]

Group 1: New IPOs - Three new stocks are scheduled for subscription this week (October 27 to 31), including two on the Shanghai Stock Exchange and one on the Beijing Stock Exchange [1] - The Shanghai Stock Exchange new stock Fengbei Biological has an issue price of 24.49 CNY per share and a price-to-earnings ratio of 30.47, compared to the industry average of 51.49 [2] - The other Shanghai Stock Exchange new stock Delijia has an issue price of 18.81 billion CNY and is a leader in high-load precision gear transmission products, with a global market share of 10.36% and a domestic market share of 16.22% [3] Group 2: Company Profiles - Fengbei Biological focuses on the comprehensive utilization of waste resources, particularly waste oil, and has developed a production chain from waste oil to biodiesel and bio-based materials [2][3] - Delijia specializes in the research, production, and sales of high-load precision gear transmission products, primarily for wind power applications, and has established deep cooperation with leading clients [3] - Hongban Technology, which is set to go public on October 31, specializes in the research, production, and sales of printed circuit boards, targeting high-end applications and holding a significant market position in consumer and automotive electronics [4] Group 3: Fundraising Goals - Fengbei Biological aims to raise 879 million CNY for projects including the production of 30,000 tons of oleic acid methyl ester and 5,000 tons of biodiesel [3] - Delijia plans to raise 1.881 billion CNY for projects including the production of large onshore and offshore wind turbine gearboxes [3] - Hongban Technology intends to raise 2.057 billion CNY for a project to produce 1.2 million square meters of high-precision circuit boards [4]

Core Viewpoint - The company Fengbei Biotechnology is set to launch an IPO with a total market value of 2.635 billion yuan and an issuance price of 24.49 yuan per share, indicating a competitive entry into the market with a focus on waste oil resource utilization and biofuel production [2][3]. Group 1: Company Overview - Fengbei Biotechnology has over 10 years of experience in the waste oil resource utilization sector, establishing a comprehensive industrial chain from waste oil to resource regeneration [2]. - The company has developed bio-based materials for agricultural applications and has a significant presence in the biofuel market, with a market share of approximately 4.68% in China's biodiesel sector by the end of 2024 [3]. Group 2: Financial Performance - The company reported a net profit of 1.948 billion yuan in the last three years, with a projected increase of 12.75% in 2024 [3]. - Revenue figures for the past three years are as follows: 1.728 billion yuan in 2023 (up 1.12%), and 1.709 billion yuan in 2022 (up 31.89%) [3]. Group 3: Business Highlights - The company’s main business segments include waste resource utilization (81.57%) and oil chemical products (18.29%), with minimal contributions from other areas (0.14%) [2]. - The company has established relationships with major clients in the biofuel sector, including TRAFIGURA and CARGILL, enhancing its market position [3]. Group 4: Fundraising Purpose - The funds raised from the IPO will be allocated to the construction of new production facilities, including 300,000 tons of oleic acid methyl ester, 10,000 tons of industrial-grade mixed oil, and 50,000 tons of biodiesel [3].

Summary of New Stock Offerings from October 27 to October 31 Group 1: Fengbei Biotechnology - Company Name: Fengbei Biotechnology (Shanghai Main Board, 603334) [1] - Subscription Date: October 27, Monday [1] - Subscription Code: 7323 [1] - Industry: Waste Resource Utilization [1] - Total Market Value: 26.35 billion [1] - Company Issued Price-to-Earnings Ratio: 30.47 [1] - Industry Average Price-to-Earnings Ratio: 64.7 [1] - Comparable Companies: Excellent New Energy, Jiaao Environmental Protection [1] - Key Highlight: The company has been deeply engaged in the waste oil resource utilization field for over 10 years, being a pioneer and promoter in this sector [1] Group 2: Delijia - Company Name: Delijia (Shanghai Main Board, 603092) [2] - Subscription Date: October 28, Tuesday [2] - Subscription Code: 7320 [2] - Industry: Gearbox Manufacturing [2] - Company Issued Price-to-Earnings Ratio: Not specified [2] - Industry Average Price-to-Earnings Ratio: 44.0 [2] - Comparable Companies: China Power, Dalian Heavy Industry, Hangzhou Gear [2] - Key Highlight: The company was established with investment from Sany Heavy Energy and has developed into a global leader in electric gearboxes [2]

Group 1: New IPOs Overview - Three new stocks available for subscription in the A-share market next week: Fengbei Bio, Delijia, and Zhongcheng Consulting [1] - Fengbei Bio focuses on waste oil resource utilization, transforming waste cooking oil into biodiesel [1] - Delijia specializes in precision gear transmission, with its core product being wind power main gearboxes [2] Group 2: Fengbei Bio Financials - Fengbei Bio's projected revenues for 2022, 2023, and 2024 are 1.709 billion, 1.728 billion, and 1.948 billion respectively, indicating steady growth [2] - The company expects a decline in net profit from 136 million to 115 million during the same period, highlighting a situation of increasing revenue but decreasing profit [2] - The IPO aims to raise 750 million, with funds allocated for new production projects including biodiesel and microbial fertilizers [2] Group 3: Delijia Financials and Projects - Delijia's revenue is expected to grow by 81.13% year-on-year by mid-2025, with a net profit increase of 63.56% [2] - The company has secured over 4 billion in orders, providing a strong performance outlook for the coming years [2] - The IPO funds will be used for expanding production capacity for large onshore and offshore wind power gearboxes [3] Group 4: Zhongcheng Consulting Overview - Zhongcheng Consulting provides engineering cost, bidding agency, and project management services, with operations primarily in Jiangsu and surrounding provinces [3] - The company anticipates a revenue decline of 3.04% in 2025, with net profit expected to decrease by 4.14% [3] - The decline in performance is attributed to the complex international environment and fluctuations in the real estate market [3]

Group 1 - The company, Fengbei Bio (603334.SH), plans to issue 35.90 million shares, accounting for 25.02% of the total shares post-issuance, with a total share capital of 143.50 million shares after the public offering [1] - The initial strategic placement will involve 7.18 million shares, representing 20.00% of the total issuance [1] - The company operates in the field of waste resource utilization, primarily focusing on converting waste oils into resource products, forming a production chain from waste oils to biofuels and bio-based materials [1] Group 2 - The main business of the company is waste oil resource utilization, with secondary operations in oil chemical products; key products include bio-based materials and biofuels [2] - The company's revenue for the reporting periods was 1,708.69 million, 1,727.78 million, 1,948.02 million, and 1,478.13 million yuan, with net profits of 135.92 million, 123.04 million, 115.32 million, and 84.70 million yuan after excluding non-recurring gains and losses [2] - The company plans to invest a total of 750 million yuan from the fundraising into projects related to its main business, including the construction of facilities for producing various bio-based products and biofuels [2]

Group 1 - The company, Fengbei Biotechnology (603334.SH), plans to issue 35.90 million shares in its initial public offering (IPO), representing 25.02% of the total shares post-issuance, with a total share capital of 143.50 million shares after the IPO [1] - The initial strategic placement will involve 7.18 million shares, accounting for 20.00% of the total issuance, with the pricing inquiry date set for October 22, 2025, and subscription date for October 27, 2025 [1] - The company specializes in the comprehensive utilization of waste resources, primarily focusing on converting waste oils into resource products, forming a production chain from waste oils to biodiesel and bio-based materials [1] Group 2 - The main business of the company revolves around the comprehensive utilization of waste oils, with secondary operations in oil chemical products; key products include bio-based materials and biodiesel [2] - The company's revenue has shown a consistent growth trend over the reporting periods, with total revenues of 1,708.69 million, 1,727.78 million, 1,948.02 million, and 1,478.13 million yuan, while the net profit attributable to the parent company after deducting non-recurring gains and losses was 135.92 million, 123.04 million, 115.32 million, and 84.70 million yuan [2] - The net proceeds from the IPO, after deducting issuance costs, will be invested in projects related to the main business, including the construction of facilities for producing 300,000 tons of methyl oleate, 10,000 tons of industrial-grade mixed oil, and other agricultural microbial agents, totaling an investment of 750 million yuan [2]

Group 1: CPI Analysis - The Consumer Price Index (CPI) increased by 0.1% month-on-month in September, marking a shift from the previous month where it was flat [2] - Year-on-year, the CPI decreased by 0.3%, with the decline narrowing by 0.1 percentage points compared to the previous month [3] - Core CPI, excluding food and energy, rose by 1.0% year-on-year, marking the fifth consecutive month of growth [3] Group 2: PPI Analysis - The Producer Price Index (PPI) remained flat month-on-month, continuing a trend for two months [4] - Year-on-year, the PPI decreased by 2.3%, with the decline narrowing by 0.6 percentage points compared to the previous month [5] - Improvements in supply-demand structure have stabilized prices in certain industries, such as coal processing and black metal smelting, which saw price increases [4][5]

Group 1: CPI Analysis - In September 2025, the Consumer Price Index (CPI) showed a month-on-month increase of 0.1%, reversing from the previous month's stability, while year-on-year it decreased by 0.3% [3][4] - The core CPI, excluding food and energy, rose by 1.0% year-on-year, marking the fifth consecutive month of growth [3][5] - Food prices decreased by 4.4% year-on-year, significantly impacting the overall CPI decline, with pork prices dropping by 17.0% and fresh vegetables by 13.7% [5][4] Group 2: PPI Analysis - The Producer Price Index (PPI) remained stable month-on-month, while the year-on-year decline narrowed to 2.3%, a reduction of 0.6 percentage points from the previous month [3][8] - Improvements in supply-demand structures led to price stabilization in several industries, including coal processing and black metal smelting, which saw price increases [6][8] - The decline in oil prices influenced domestic oil-related industry prices, contributing to the overall PPI trend [7][8]