锚定方向：可再生碳源高值利用 傅杰的科研之路始于2005年硕博连读期间。在导师吕秀阳教授的带领下，他将研究方向锁定在生物质转 化这一新兴领域。"生物质是唯一的可再生含碳资源"，这一认知成为他科研生涯的基础。2012年回国 后，他在吕秀阳教授的指导与支持下，继续以废弃油脂高值化利用作为主攻方向。从最初的小组探索， 到获得国家基金的早期资助，再到与中石化、康恩贝集团、华康药业、飞天石化等建立长期合作，每一 步，他都走得笃定而踏实。在他看来，科研方向的选择无需追随潮流，关键在于结合自身优势与时代需 要。正是这种前瞻性的定位和长期的坚守，为他后续取得的一系列创新突破奠定了坚实基础。 核心突破：探寻油脂化工机理 将废弃油脂转化为高值化学品，是傅杰团队的标志性成果。其技术核心可形象地概括为"一把精准的分 子剪刀"和"一套高效的混合艺术"。 所谓"分子剪刀"，即通过原创的催化剂表界面设计，精确控制反应路径。在此基础上，傅杰团队形成 了"油脂—脂肪酸—定向脱氧—长链烷烃/长链脂肪醇/长链烯烃"的清晰技术路线。其关键突破在于团队 提出了"团斜平"吸附构型调控理论，以解决脱氧过程中如何保持长碳链以及副反应并存的核心科学难 题。基 ...

天眼查App显示，近日，承德县鼎泰昌油脂有限公司成立，法定代表人为王岩，注册资本30万人民币， 经营范围为一般项目：工业用动物油脂化学品制造;专用化学产品销售（不含危险化学品）;专用化学产 品制造（不含危险化学品）;非食用植物油加工;非食用植物油销售;炼油、化工生产专用设备制造;技术 服务、技术开发、技术咨询、技术交流、技术转让、技术推广;五金产品零售;食用农产品零售;机械设备 销售;国内贸易代理（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）许可项目：住宅 室内装饰装修;建设工程施工;餐厨垃圾处理;肥料生产;饲料生产;城市生活垃圾经营性服务;生物质燃气生 产和供应;动物无害化处理（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经营项 目以批准文件或许可证件为准）。 ...

Summary of Key Points Core Viewpoint - Zanyu Technology (SZ 002637) has completed its share repurchase plan, which involved buying back approximately 9.29 million shares, accounting for 1.9751% of the total shares, with a total expenditure of around 100 million RMB [1]. Company Performance - As of the first half of 2025, Zanyu Technology's revenue composition is as follows: 52.21% from the oil and fat chemical industry, 45.59% from daily chemicals, 1.75% from trade and other businesses, and 0.45% from processing services [1]. - The company's market capitalization is currently 5.4 billion RMB [1].

Core Insights - Zanyu Technology (002637) reported a strong performance in the first three quarters of 2025, with revenue reaching 9.676 billion yuan, a year-on-year increase of 27.92%, and a net profit attributable to shareholders of 151 million yuan, up 24.96% [1] - The company's operating cash flow significantly improved, with a net cash flow from operating activities of 622 million yuan, a year-on-year increase of 40.31% [1] - Zanyu Technology specializes in the research and production of surfactants, oil chemical products, and OEM/ODM processing of personal care products, establishing itself as a leading player in the domestic market [1] Financial Performance - Revenue for the first three quarters of 2025 was 9.676 billion yuan, reflecting a 27.92% increase year-on-year [1] - Net profit attributable to shareholders reached 151 million yuan, marking a 24.96% year-on-year growth [1] - The net cash flow from operating activities was 622 million yuan, showing a substantial increase of 40.31% compared to the previous year [1] - The non-recurring net profit attributable to shareholders was 137 million yuan, with a remarkable growth of 49.93% year-on-year, indicating strong core profitability [1][4] Industry Position - Zanyu Technology is one of the few Chinese oil chemical companies with overseas palm oil raw material production bases, enhancing its supply chain control and market reach [3] - The company has established a comprehensive industrial park layout for surfactant production and daily chemical products in various locations, integrating upstream and downstream supply chains [2] - The global surfactant market is expected to grow moderately, with projected sales reaching 32.97 billion USD in 2025 and 39.36 billion USD by 2031, reflecting a CAGR of 3.00% from 2025 to 2031 [2] Research and Development - R&D expenses increased by 26.34% year-on-year, indicating the company's commitment to enhancing its long-term competitiveness through technological investment [4] - The company has achieved significant results in the development of new specialty surfactants and optimization of traditional surfactant processes, maintaining a leading position in the industry [3]

Company Summary - Zanyu Technology (SZ 002637) announced on October 24 that shareholder Fang Yinjun has pledged 7.1 million shares to Bank of China International Securities, representing 29.83% of his total holdings [1][1][1] - As of the announcement date, Zanyu Technology has a market capitalization of 5.2 billion yuan [1][1][1] Industry Summary - For the first half of 2025, Zanyu Technology's revenue composition is as follows: 52.21% from the oil and fat chemical industry, 45.59% from daily chemicals, 1.75% from trade and other businesses, and 0.45% from processing services [1][1][1]

Group 1 - The company announced that its board approved a proposal to provide a guarantee for its subsidiary, Henan Zanyu Technology Co., Ltd., to support its operational development and reduce financing costs [1] - The company will provide a full joint liability guarantee of up to RMB 700 million for Henan Zanyu, with a counter-guarantee from Zhengshang Development Group based on its equity stake [1] - After this guarantee, the total guarantee amount for the company and its subsidiaries will reach RMB 5.38 billion, accounting for 141.34% of the company's audited net assets for 2024 [1] Group 2 - For the first half of 2025, the company's revenue composition is as follows: 52.21% from the oil and fat chemical industry, 45.59% from daily chemicals, 1.75% from trade and other businesses, and 0.45% from processing services [2] - The company's market capitalization is currently RMB 5.5 billion [3]

Financial Performance - In the first half of 2025, the company achieved operating revenue of 6.553 billion CNY, a 41.71% increase compared to the same period last year [2] - The net profit attributable to shareholders was 0.97 billion CNY, reflecting a growth of 6.35% year-on-year [2] - Total assets reached 8.586 billion CNY, up 8.29% from the beginning of the year, while total liabilities increased by 15.55% to 4.762 billion CNY [2] - The equity attributable to shareholders rose by 0.99% to 3.824 billion CNY, with a debt-to-asset ratio of 55.47%, an increase of 3.48 percentage points from the start of the year [2] Business Segments - The daily chemical business generated revenue of 2.987 billion CNY, a 56.14% increase year-on-year, with a sales gross margin of 5.31% [3] - The oil chemical business reported revenue of 1.34 billion CNY, up 30.36% from the previous year, with a sales gross margin of 34.21% [3] - The company has an annual production capacity of 1.1 million tons for OEM/ODM processing in personal care products [3] Risk Management - The company engages in futures hedging to mitigate risks associated with raw material price fluctuations, thereby controlling production costs [4] Strategic Development - The company aims to enhance its market share and competitiveness by focusing on the entire supply chain of surfactants, oil chemicals, and personal care products, while emphasizing customer-centric OEM/ODM services [5] - The company is committed to continuous technological innovation and process improvement, maintaining a leading position in product innovation and efficiency within the industry [5]

Group 1 - Zanyu Technology announced a provision for asset impairment and credit impairment totaling 36.797 million yuan, which will reduce the company's total profit for the first half of 2025 by the same amount [2] - For the first half of 2025, Zanyu Technology's revenue composition is as follows: 52.21% from the oil and fat chemical industry, 45.59% from daily chemicals, 1.75% from trade and other businesses, and 0.45% from processing services [2]

Group 1 - The core point of the article is that Zanyu Technology announced the convening of its 21st meeting of the 6th Board of Directors on August 20, 2025, to review the 2025 semi-annual report and summary [2] - For the first half of 2025, Zanyu Technology's revenue composition is as follows: 52.21% from the oil and fat chemical industry, 45.59% from daily chemicals, 1.75% from trade and other businesses, and 0.45% from processing services [2]

Investment Rating - The report maintains a "Buy" rating for companies involved in palm oil and biodiesel sectors, highlighting potential price increases in these markets [4]. Core Insights - Palm oil futures prices have reached a new high for the year, with a closing price of 9,490 CNY/ton on August 13, 2025, marking a 13.06% increase since July 1, 2025 [1]. - Indonesia's plan to implement a B50 blending mandate for biodiesel is expected to significantly boost palm oil demand, potentially increasing annual consumption by up to 19 million kiloliters [2]. - The U.S. is projected to increase biodiesel blending by 67% in 2026, which may create a ripple effect in the global oilseed market, influencing prices across various vegetable oils [3]. Summary by Sections Palm Oil Market - The DCE palm oil futures price has surpassed 9,400 CNY/ton, indicating strong market performance [1]. - Indonesia's B50 plan could lead to a substantial increase in domestic palm oil consumption, reflecting government commitment to enhancing local usage [2]. Biodiesel Sector - The U.S. EPA's proposed rule for 2026 aims to raise biodiesel blending to 5.61 billion gallons, a 67% increase from the current year, which is expected to impact the overall vegetable oil market positively [3]. Investment Recommendations - The report suggests focusing on companies like Zanyu Technology, which benefits from stable raw material prices in Indonesia, and other players in the biodiesel supply chain such as Shanggou Environmental Energy and Jiaao Environmental Protection [4][5].