截至2025年11月25日收盘，卓越新能（688196）报收于52.35元，较前一交易日下跌0.29%，最新总市值 为66.58亿元。该股当日开盘54.08元，最高54.08元，最低52.02元，成交额达4740.5万元，换手率为 0.75%。 公司近日发布公告称，龙岩卓越新能源股份有限公司于2025年11月24日召开董事会，同意将首次公开发 行股票募投项目"年产10万吨生物柴油（非粮）及年产5万吨天然脂肪醇项目"结项，并将节余募集资金 11,410.45万元用于"年产10万吨烃基生物柴油生产线"项目建设。该项目已达到预定可使用状态，节余资 金主要因成本控制和闲置资金管理收益形成。该事项无需提交股东大会审议，保荐机构无异议。 最新公告列表 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 《关于部分募集资金投资项目结项并将节余募集资金用于其他募投项目建设的公告》 《关于将天然脂肪醇、烃基生物柴油业务相关资产划转至全资子公司暨变更部分募投项目实施主 体的公告》 《华福证券有限责任公司关于龙岩卓越新能源股份有限公司部分募集资金投资项目结项 ...

格隆汇11月25日丨卓越新能(688196.SH)公布，公司于2025年11月24日召开了第五届董事会第十四次会 议，审议通过《关于部分募集资金投资项目结项并将节余募集资金用于其他募投项目建设的议案》，同 意对"年产10万吨生物柴油(非粮)及年产5万吨天然脂肪醇项目"予以结项，并将节余募集资金用于烃基 一线项目建设。 ...

卓越新能公告称，公司拟以2025年10月31日账面净值，将天然脂肪醇、烃基生物柴油业务相关资产、负 债及人员划转至全资子公司科技子公司，划转资产64,992.61万元，负债55,340.44万元，净资产9,652.17 万元，划转完成后将注销科技分公司。同时，将"年产10万吨烃基生物柴油生产线项目"等3个募投项目 实施主体变更为科技子公司或与上市公司共同实施。本次事项属资产权属调整，不构成重大资产重组， 不改变募资用途。 ...

11月5日，卓越新能盘中上涨2.09%，截至13:19，报50.84元/股，成交4753.67万元，换手率0.79%，总市 值64.66亿元。 资金流向方面，主力资金净流出595.13万元，大单买入635.40万元，占比13.37%，卖出1230.54万元，占 比25.89%。 卓越新能所属申万行业为：基础化工-化学制品-其他化学制品。所属概念板块包括：基金重仓、小盘、 融资融券、高派息、节能环保等。 截至9月30日，卓越新能股东户数4416.00，较上期减少6.84%；人均流通股27173股，较上期增加 7.34%。2025年1月-9月，卓越新能实现营业收入23.43亿元，同比减少21.24%；归母净利润1.67亿元，同 比增长81.24%。 分红方面，卓越新能A股上市后累计派现6.01亿元。近三年，累计派现2.78亿元。 机构持仓方面，截止2025年9月30日，卓越新能十大流通股东中，宝盈新兴产业混合A（001128）位居 第三大流通股东，持股116.49万股，相比上期减少9.93万股。富国改革动力混合（001349）位居第五大 流通股东，持股82.21万股，为新进股东。富国研究精选灵活配置混合A（000 ...

Investment Rating - The investment rating for the company is "Accumulate" and is maintained [8] Core Insights - In Q3 2025, the company achieved revenue of 1.031 billion yuan, a year-on-year decrease of 1.05% but a quarter-on-quarter increase of 71.05%. The net profit attributable to the parent company was 50 million yuan, a year-on-year increase of 667.56% but a quarter-on-quarter decrease of 10.76%. Excluding one-time impacts, the adjusted net profit for Q3 2025 would be 67.82 million yuan [2][6][14] - The company is actively responding to the EU's anti-dumping sanctions on biodiesel, accelerating its global expansion and extending its industrial chain [2][14] Summary by Sections Financial Performance - For the first three quarters of 2025, the company reported total revenue of 2.343 billion yuan, a year-on-year decrease of 21.24%. The net profit attributable to the parent company was 167 million yuan, a year-on-year increase of 81.24%. The net profit excluding non-recurring items was 159 million yuan, a year-on-year increase of 83.78% [6][14] - In Q3 2025, the company’s revenue was 1.031 billion yuan, with a gross profit margin of 13.71%, which is a significant year-on-year increase of 15.29 percentage points and a quarter-on-quarter increase of 1.76 percentage points [14] Strategic Initiatives - The company is expanding its global footprint and enhancing its industrial chain in response to the EU's anti-dumping duties of 23.4% on its products. Strategies include legal appeals, market strategy adjustments, and international collaborations [14] - Future growth is anticipated through new production capacities in Singapore and Thailand, as well as a joint venture in Saudi Arabia [14] Profit Forecast - The projected net profit attributable to the parent company for 2025-2027 is expected to be 218 million, 406 million, and 482 million yuan, representing year-on-year growth rates of 46%, 87%, and 19% respectively [14]

Core Viewpoint -卓越新能 is a leading company in the biodiesel industry in China, focusing on the production of biodiesel and its deep-processing products from waste oils, with a full industry chain advantage [1] Group 1: Business Performance - In Q3 2025,卓越新能 reported revenue of 2.343 billion yuan, ranking 17th among 79 companies in the industry, with the industry leader, Sinochem International, at 35.716 billion yuan [2] - The main business composition includes biodiesel at 1.067 billion yuan (81.33%), mixed fatty acids at 116 million yuan (8.86%), and natural fatty alcohols at 82.235 million yuan (6.27%) [2] - The net profit for the same period was 167 million yuan, ranking 15th in the industry, with the top company, Hangyang Co., reporting 850 million yuan [2] Group 2: Financial Ratios - As of Q3 2025,卓越新能's debt-to-asset ratio was 21.20%, lower than the industry average of 34.74%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 11.73%, which, while improved from 3.56% year-on-year, remains below the industry average of 19.93% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 6.84% to 4,416, while the average number of circulating A-shares held per household increased by 7.34% to 27,200 [5] - Notable changes among the top ten circulating shareholders include a decrease in holdings by Baoying New Industry Mixed A and new entries from 富国改革动力混合 and 富国研究精选灵活配置混合 A [5] Group 4: Future Outlook - Longjiang Securities projects net profits for 2025-2027 to be 247 million, 371 million, and 436 million yuan, with corresponding PE ratios of 24x, 16x, and 14x, maintaining a "buy" rating [6] - Xinda Securities forecasts net profits for the same period to be 332 million, 486 million, and 591 million yuan, with growth rates of 122.8%, 46.3%, and 21.7% respectively, also maintaining a "buy" rating [6]

Core Viewpoint - The stock of Zhuoyue New Energy has shown a significant increase of 49.20% year-to-date, despite a recent decline of 2.00% on September 22, 2023, indicating potential volatility in the market [1]. Company Overview - Zhuoyue New Energy Co., Ltd. is located in Longyan City, Fujian Province, and was established on November 1, 2001, with its listing date on November 21, 2019. The company specializes in producing biodiesel and its deep-processing products using waste oil as raw material [1]. - The main revenue sources for Zhuoyue New Energy include biodiesel (81.33%), mixed fatty acids (8.86%), natural fatty alcohols (6.27%), eco-friendly alkyd resins (1.53%), industrial glycerin (1.37%), bioester plasticizers (0.32%), and other supplementary products (0.31%) [1]. Financial Performance - For the first half of 2025, Zhuoyue New Energy reported a revenue of 1.312 billion yuan, a year-on-year decrease of 32.12%, while the net profit attributable to shareholders increased by 16.01% to 117 million yuan [2]. - The company has distributed a total of 601 million yuan in dividends since its A-share listing, with 278 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Zhuoyue New Energy was 4,740, a decrease of 8.07% from the previous period, while the average circulating shares per person increased by 8.78% to 25,316 shares [2]. - Notable institutional holdings include Baoying New Emerging Industries Mixed A, which is the third-largest shareholder with 1.2642 million shares, and several new institutional investors have entered the top ten shareholders list [3].

Group 1 - The core viewpoint of the news is the performance and business profile of Zhuoyue New Energy, which saw a stock price increase of 5.16% to 49.77 CNY per share, with a total market capitalization of 5.972 billion CNY [1] - Zhuoyue New Energy, established on November 1, 2001, and listed on November 21, 2019, specializes in producing biodiesel and its deep-processed products using waste oil as raw material [1] - The company's main revenue sources include biodiesel (81.33%), mixed fatty acids (8.86%), natural fatty alcohols (6.27%), eco-friendly alkyd resins (1.53%), industrial glycerin (1.37%), bioester plasticizers (0.32%), and other supplementary products (0.31%) [1] Group 2 - From the perspective of fund holdings, Zhuoyue New Energy is a significant investment for the Rongtong New Trend Flexible Allocation Mixed Fund (002955), which held 12,700 shares, accounting for 2.19% of the fund's net value [2] - The Rongtong New Trend Flexible Allocation Mixed Fund has achieved a year-to-date return of 35.15% and a one-year return of 60.43%, ranking 2206 out of 8172 and 2295 out of 7980 respectively in its category [2] - The fund manager, He Tianxiang, has a tenure of 10 years and 333 days, with the fund's total asset size at 7.662 billion CNY [3]

Investment Rating - The investment rating for the company is "Accumulate" and maintained [8] Core Views - In H1 2025, the company achieved revenue of 1.312 billion yuan, a year-on-year decrease of 32.12%, while the net profit attributable to the parent company was 117 million yuan, a year-on-year increase of 16.01% [2][6] - The decline in revenue was primarily due to a decrease in biodiesel sales, while the production of natural fatty alcohol, which began trial production in April 2025, contributed 82.24 million yuan in revenue [2][6] - The company is actively responding to the EU's anti-dumping sanctions on biodiesel by accelerating its global layout and extending its industrial chain [2][12] Summary by Sections Financial Performance - In H1 2025, biodiesel revenue was 1.07 billion yuan, down 42.3% year-on-year, with sales volume at 125,000 tons, a decrease of 37.55% [12] - The average selling price of biodiesel was 8,533.6 yuan per ton, down 7.7% year-on-year [12] - The gross margin for H1 2025 was 10.17%, an increase of 3.83 percentage points, mainly due to the high gross margin from the fatty alcohol business [12] - The cash collection ratio was 95.71%, a slight decrease of 3.41 percentage points year-on-year [12] Strategic Initiatives - The company is addressing the EU's anti-dumping tax of 23.4% by adjusting market strategies, expanding into non-EU markets, and extending into downstream bio-based materials [12] - Future growth is expected from new production capacities in Singapore and domestic projects, which are anticipated to enhance profitability [12] Profit Forecast - The projected net profit attributable to the parent company for 2025-2027 is 247 million, 371 million, and 436 million yuan, representing year-on-year growth of 66%, 50%, and 17% respectively [12]

Group 1 - The company's revenue for H1 2025 was 1.312 billion yuan, a year-on-year decrease of 32.12%, while the net profit attributable to shareholders was 117 million yuan, an increase of 16.01% [1] - In Q2 2025, the company reported revenue of 603 million yuan, down 43.34% year-on-year and 14.96% quarter-on-quarter, with a net profit of 56.05 million yuan, a decrease of 22.3% year-on-year and 8.58% quarter-on-quarter [1] - The company's high-margin natural fatty alcohol project contributed to a gross margin increase of 3.83 percentage points year-on-year despite a decline in biodiesel sales [1] Group 2 - The price of biodiesel in China as of August 29, 2025, was 1,175 USD/ton, reflecting a 22% increase compared to the same period in 2024, indicating a steady growth trend in biodiesel prices [2] - The price of medium-chain fatty alcohol reached 24,600 yuan/ton as of August 29, 2025, up 42% year-on-year, driven by stable palm oil production and increasing demand in the downstream personal care sector [2] - The company benefits from cost advantages by using waste oils from palm oil processing to produce fatty alcohol, positioning it well to capitalize on rising fatty alcohol prices [2] Group 3 - The company is advancing its overseas base construction, with a 100,000 tons/year HVO/SAF production line in China entering the pipeline installation phase [3] - In Singapore, the company plans to build a 200,000 tons/year biodiesel capacity, starting with an initial phase of 100,000 tons/year [3] - The company has completed land exploration and is designing construction plans for a 300,000 tons/year biodiesel project in Thailand, with future plans for biodiesel projects in Saudi Arabia [3]