Group 1 - The core viewpoint of the news is that Zhuoyue New Energy's stock has declined, and its current PE ratio is significantly lower than the industry average, indicating potential undervaluation [1][2] - Zhuoyue New Energy's stock closed at 43.83 yuan, down 5.92%, with a rolling PE ratio of 29.01 times and a total market value of 5.26 billion yuan [1] - The company operates in the chemical products industry, which has an average PE ratio of 47.71 times and a median of 41.07 times, placing Zhuoyue New Energy at the 80th position in the industry ranking [1][2] Group 2 - As of the first quarter of 2025, nine institutions hold shares in Zhuoyue New Energy, including five funds, two others, one insurance company, and one brokerage, with a total holding of 91.89 million shares valued at 4.13 billion yuan [1] - The main business of Zhuoyue New Energy is the production of biodiesel and the utilization of bio-based materials from waste oil, with key products including various grades of biodiesel and other bio-based materials [1] - The latest financial report for the first quarter of 2025 shows that the company achieved an operating income of 709 million yuan, a year-on-year decrease of 18.39%, while net profit increased by 111.22% to 61.31 million yuan, with a sales gross margin of 8.67% [1]

Group 1 - The Brazilian chemical industry is experiencing its worst performance in over 30 years, with an operating rate of 62% in Q1 2025, down from 65% in Q1 2024, and a year-on-year production decline of 3.8% [1] - Despite increased import tariffs on various chemical products in October 2024, the industry continues to struggle, with high import levels persisting [1] - The import penetration rate for chemical products decreased from 53% in 2024 to 43% in Q1 2025, indicating some positive effects of trade protectionism [1][2] Group 2 - The chemical trade deficit reached $49.82 billion in the 12 months ending March 2025, surpassing the previous peak of $48.68 billion [2] - The CEO of Abiquim highlighted that Brazilian chemical producers are heavily reliant on imports, making them price takers in the global market, and facing high costs from energy and taxes [2] - The proposed Presiq stimulus plan aims to address structural issues in the industry, potentially increasing operating rates to 95% and generating significant GDP growth and job creation [2] Group 3 - The production costs in Brazil are significantly higher than in North America or the Middle East, which hampers competitiveness [3] - Braskem, the largest petrochemical producer in Latin America, is planning to gradually shift to ethane feedstock, but this requires substantial investment and stable natural gas supply [3]

Group 1 - The core viewpoint of the news highlights the performance and valuation of Zhuoyue New Energy, which closed at 46.5 yuan with a PE ratio of 30.78 times, below the industry average of 45.80 times [1][2] - Zhuoyue New Energy's total market capitalization is 5.58 billion yuan, ranking 84th in the chemical products industry based on PE ratio [1][2] - As of the first quarter of 2025, nine institutions hold shares in Zhuoyue New Energy, with a total of 91.89 million shares valued at 4.125 billion yuan [1] Group 2 - The main business of Zhuoyue New Energy involves producing biodiesel and utilizing waste oil resources, with key products including various grades of biodiesel and bio-based materials [1] - The latest financial report for the first quarter of 2025 shows a revenue of 709 million yuan, a year-on-year decrease of 18.39%, while net profit increased by 111.22% to 61.31 million yuan, with a gross margin of 8.67% [1]

龙岩卓越新能源股份有限公司的主营业务是废弃油脂资源生产生物柴油及生物基材料的利用。公司的主 要产品是1#生物柴油、2#生物柴油、3#生物柴油、4#生物柴油、生物酯增塑剂、工业甘油、环保型醇酸 树脂。公司是国家级高新技术企业、福建省循环经济示范企业、福建省创新型示范企业、福建省战略性 新兴产业骨干企业。子公司厦门卓越、卓越生物基被认定为国家级高新技术企业、福建省科技小巨人企 业、福建省专精特新中小企业。 最新一期业绩显示，2025年一季报，公司实现营业收入7.09亿元，同比-18.39%；净利润6131.22万元， 同比111.22%，销售毛利率8.67%。 7月1日，卓越新能今日收盘49.1元，上涨2.14%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到32.50倍，创421天以来新低，总市值58.92亿元。 从行业市盈率排名来看，公司所处的化学制品行业市盈率平均44.87倍，行业中值40.59倍，卓越新能排 名第86位。 截至2025年一季报，共有9家机构持仓卓越新能，其中基金5家、其他2家、保险1家、券商1家，合计持 股数9189.02万股，持股市值41.25亿元。 序号股票简称PE(TT ...

撰文丨王聪 编辑丨王多鱼 排版丨水成文 塑料重量轻，但耐用、坚韧且使用寿命长，这使其成为众多社会依赖的应用和行业的理想材料。然而，大 多数塑料不易分解，从而导致环境问题，堆积如山的塑料垃圾威胁着 野生动植物和生态系统，还对海洋产 生了广泛污染。 通过化学催化，将塑料废弃物转化为有价值的化学品和燃料，是一个很有前景的解决方案。然而，现实生 活中的塑料往往是混合物，其成分和结构具有多样性，对这些混合塑料废弃物进行回收或升级再造，显然 颇具挑战性。 2025 年 6 月 25 日， 北京大学化学与分子工程学院 马丁 教授、 王蒙 副研究员及中国科学院 大连化学物 理研究所 徐舒涛 研究员作为共同通讯作者，在 Nature 期刊发表了题为： In-line NMR guided orthogonal transformation of real-life plastics 的研究论文。 该研究提出了一种创新方法，能够将 8 种常用塑料的废弃混合物转化为其原始化学成分或其它有价值的化 合物，为废弃塑料混合物的化学回收这一现实世界难题提供了新的解决思路。 在这项新研究中，研究团队提出一种以产品为导向的新策略，利用塑料混合 ...

DT产业研究院 | 郭凯教授 我国就有多个生物基材料产业化极为成功的科研团队，南京工业大学 K&k团队就是 其中之一。 K&k团队 开发的新型生物基聚氨酯、聚酯、尼龙、氨纶、助剂等新型高性能生物基材料，累计50余 万吨/年产业化 。 1. 结构可实现精准调控 近日， 南京工业大学副校长 K&k团队负责人 郭凯教授 在 2025首届生物有机合成与生物制造产业大 会上做了题为《 生物基材料工作思考 》的演讲。 DT新材料产业研究院 对此做了部分要点梳理，如内容整理有偏颇，欢迎指正。 传统石化材料（如聚醚型氨酯）结构单一、改性困难，而植物基聚氨酯可通过分子设计实现精准调 控。例如： 利用植物源的 羟基、氨基、羧基等活性基团，构建多样化聚合物网络； 保留天然大分子共价键结构，避免传统工艺对生物质的"切割-重组"损耗。 01 抛开环保因素，对比性能，生物基 VS 石油基究竟有哪些优势？ 2. 原料的天然禀赋 生物质富含合成所需的活性官能团（如氨基酸、糖类、木质素等），显著优于石化原料。 郭凯教授说： "传统化工合成氨工艺仍面临选择性差、氧化安全性低等挑战，而生物质天然基团可直 接参与高效聚合。" 3. 资源循环闭环 0 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 6月23日晚间，嘉澳环保（维权）（603822.SH）公告称，因涉嫌信息披露违法违规，收到中国证监会 《立案告知书》。这是该公司自2020年以来第三次因信披问题被监管机构调查，叠加其连续三年亏损、 资产负债率攀升至80.45%的财务困境，市场对其治理能力和经营可持续性的质疑再度升温。 信披顽疾：五年三次立案，会计差错与财务造假成"重灾区" 1． 在建工程转固争议引爆最新调查 此次立案的核心矛盾指向子公司济宁环保增塑剂项目在建工程未按规定转固定资产，导致2022年、2023 年年报披露不准确。浙江证监局2024年8月已就此出具警示函，指出该项目虽于2024年6月完工，但公司 以"污水处理技术改造未完成"为由延迟转固，与监管认定的时间节点存在冲突。追溯调整后，嘉澳环保 2022年归母净利润亏损从3244万元扩大至4689万元，2023年净利润由盈转亏754万元。 2． 历史造假与"低级错误"频发 嘉澳环保的信披问题早有前科： 2020年财务造假案：2019年至2020年期间，公司通过未合并境外主体、虚增收入成本等方式，虚增2019 年营收1.79亿元（占比14.2 ...

Core Viewpoint - Jiaao Environmental Protection has been investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure, marking the second investigation in five years [1][9]. Company Overview - Jiaao Environmental Protection, established in 2003 and listed on the Shanghai Stock Exchange in 2016, focuses on the research, production, and sales of bio-based plasticizers and biomass energy [3]. - The company has been recognized as one of the top ten enterprises in the plasticizer industry in China and has a biodiesel production capacity of 300,000 tons annually through its subsidiaries [3]. History of Violations - In March 2020, Jiaao Environmental Protection corrected multiple financial reports from 2017 to 2019 due to inconsistencies caused by staff errors [5]. - In December 2020, the CSRC initiated an investigation for information disclosure violations, revealing that the company had inflated its 2019 revenue by approximately 179 million yuan, which accounted for 14.24% of the reported revenue [7]. - The company faced administrative penalties in May 2021, including a fine of 1 million yuan for the company and its executives [7][8]. Recent Developments - The latest investigation by the CSRC is related to inaccuracies in annual report disclosures, with the Zhejiang Securities Regulatory Bureau previously issuing a warning regarding unreported construction projects [9]. - The company has made retrospective adjustments to its financial statements, resulting in increased losses for 2022 and 2023 [10][11]. Financial Performance - Jiaao Environmental Protection reported revenues of 3.211 billion yuan, 2.666 billion yuan, and 1.274 billion yuan for 2022, 2023, and 2024 respectively, with net losses of 46.89 million yuan, 7.54 million yuan, and 367 million yuan [11]. - The decline in revenue is attributed to the EU's anti-dumping policies affecting biodiesel exports, leading to a 76.64% decrease in biomass energy revenue [12]. Debt Situation - As of the first quarter of 2025, the company's debt ratio reached 80.45%, with cash reserves of only 230 million yuan and short-term borrowings of 1.405 billion yuan [13]. - The company has struggled with liquidity issues since its IPO in 2016, having attempted five capital increase plans, with the latest plan aiming to raise up to 367 million yuan for debt repayment and working capital [14][15]. Shareholding and Control - The actual controller, Shen Jian, holds a 37.38% stake in the company, which is expected to increase to 51.23% following the completion of the latest capital increase [15]. - Shen Jian has pledged shares to secure personal investments and support the company's operations, with ongoing efforts to reduce the pledge ratio through asset disposals and bank loans [15].

星标 ★ IPO日报 精彩文章第一时间推送 6月23日晚间，浙江嘉澳环保科技股份有限公司（下称"嘉澳环保"，603822.SH）发布公告称，公 司近日收到中国证监会的《立案告知书》。 公司涉嫌信息披露违法违规行为，根据相关法律法规， 证监会决定对公司立案调查。 公司在公告中表示，目前日常经营秩序保持正常状态，各项业务活动按计划有序开展。公司将积极 配合证监会的相关调查工作，严格按照监管要求履行信息披露义务。 制图：佘诗婕 曾虚假记载 需要指出的是，嘉澳环保此次被立案，并非首次遭遇监管处罚。 2021年5月，公司收到中国证监会浙江监管局《行政处罚事先告知书》，公司涉嫌信息披露违法违 规案。 经查明，嘉澳环保涉嫌违法的事实如下：嘉澳环保于2019年初至2020年8月，通过其全资子公司 浙江东江能源科技有限公司（以下简称"东江能源"）、浙江嘉穗进出口有限公司（以下简称"嘉穗 进出口"）与RICH TIME TRADING（以下简称"RICH TIME"）、FOUTAIN HIGH HK TRADING LIMITED（以下简称"FOUTAIN HIGH"）、High Channel Limited（以下简称"HIG ...

这并非嘉澳环保首次"信息披露违规"。此前，致嘉澳环保披露的2019年年度报告、2020年第一季度报 告、2020年半年度报告和2020年第三季度报告存在虚假记载。其中，2019年报虚增营收1.79亿元（占比 14.24%），虚增营业成本1.8亿元，虚减净利润105.04万元；2020年一季报、半年报、三季报分别虚增 营收0.89亿元、1.19亿元、1.49亿元，虚减净利润58.93万元、68.44万元、93.61万元。 2020年12月，嘉澳环保称被证监会立案调查。2021年5月，浙江证监局对嘉澳环保罚款100万元，并对董 事长沈健、财务总监查正蓉等高管处以警告及罚款。 6月23日，嘉澳环保（603822）（603822.SH）发布公告称，公司近日收到中国证券监督管理委员会对 公司的《立案告知书》，公司涉嫌信息披露违法违规，决定对公司立案。 公司官网显示，嘉澳环保于2016年在上交所上市，是一家致力于研发、生产、销售生物基增塑剂和生物 质能源的环保型科技公司。公司旗下现有9家子公司，分别生产销售环保增塑剂、稳定剂及生物柴油。 目前，子公司东江能源和嘉澳新能源的生物柴油全年产能已达到30万吨。 公告显示，公司子 ...