消息面 美国农业部：截至10月9日当周，美国2025/2026年度豆油出口净销售为0.2万吨，前一周为-1.2万吨； 2026/2027年度豆油净销售0万吨，前一周为1.1万吨；美国2025/2026年度豆油出口装船0.2万吨，前一周 为0.2万吨。 监测数据显示，截止到2025年第47周末，国内豆油库存量为140.4万吨，较上周的137.3万吨增加3.1万 吨，环比增加2.28%。其中：沿海库存量为127.5万吨，较上周的124.4万吨增加3.1万吨，环比增加 2.44%。 11月25日，豆油前20名期货公司（全月份合约加总）多单持仓50.50万手，空单持仓64.18万手，多空比 0.79。净持仓为-13.69万手，相较上日增加5807手。 机构观点 美国大豆出口检验量为79.90万吨，较去年同期的211.98万吨显著下降，本年度累计出口检验量同比减少 44.5%，整体出口进度明显偏慢。许多市场人士怀疑中国是否会继续从美国购买大豆。目前美国生物柴 油政策仍有不确定性，有媒体周五对EPA的副局长进行了独家采访，EPA副局长抨击了路透社关于进口 生物燃料激励措施的报道，EPA认为路透社的报道具有误导性。但对于R ...

Core Points - The stock of Longyan Zhuoyue New Energy Co., Ltd. (688196) closed at 52.35 yuan on November 25, 2025, down 0.29% from the previous trading day, with a total market capitalization of 6.658 billion yuan [1] - The company announced the completion of its initial public offering fundraising project for "annual production of 100,000 tons of biodiesel (non-grain) and annual production of 50,000 tons of natural fatty alcohol" and will use the remaining raised funds of 114.1045 million yuan for the construction of the "annual production of 100,000 tons of hydrocarbon-based biodiesel production line" project [1] - The project has reached the predetermined usable state, and the remaining funds were mainly due to cost control and idle fund management income [1] - This matter does not require submission for shareholder meeting approval, and the sponsor institution has no objections [1]

Core Viewpoint - The report highlights significant growth in the environmental protection industry, particularly in the sanitation equipment and lithium battery recycling sectors, driven by increasing demand for new energy vehicles and rising lithium prices [1][3][7]. Industry Overview - Sanitation Equipment: In the first ten months of 2025, sales of new energy sanitation vehicles increased by 61.32%, with a penetration rate rising by 6.33 percentage points to 18.02%. Total sanitation vehicle sales reached 60,675 units, a year-on-year increase of 4.61%, with 10,931 units being new energy vehicles, marking a 63.32% increase [1][7]. - Lithium Battery Recycling: The price of lithium carbonate has risen, improving profitability. As of November 21, 2025, the weekly price of lithium carbonate was 92,400 (up 8.4% week-on-week), with cobalt and nickel prices at 405,000 and 116,700 respectively [1][7]. Investment Recommendations - Key Recommendations: Companies such as Hanlan Environment, High Energy Environment, Green Power Environmental Protection, and others are highlighted as key investment opportunities [2][4][5]. - Suggested Focus: Attention is drawn to companies involved in carbon monitoring and CCER asset appreciation, as well as those engaged in plastic recycling and energy-saving projects [3][4]. Financial Performance - Solid Waste Sector: The sector showed a 12% increase in net profit for the first three quarters of 2025, with a gross margin improvement of 2.7 percentage points. Free cash flow reached 13.3 billion, up 28% year-on-year [5][6]. - Water Sector: The water sector is expected to see a significant improvement in free cash flow, with a projected increase in dividend payout ratios as cash flow stabilizes [6]. Market Trends - Carbon Emission Quotas: The Ministry of Ecology and Environment has implemented a carbon emission quota scheme for the steel, cement, and aluminum industries for 2024 and 2025, which is expected to enhance the demand for carbon monitoring equipment [3][4]. - Price Adjustments: Recent price adjustments in water services in major cities are anticipated to support revenue growth and improve investment returns [6].

Core Viewpoint - The company, Langkun Technology, is addressing investor concerns regarding project completion timelines, current sales of biodiesel, and its long-term vision to become a world-class bio-manufacturing enterprise [1] Group 1: Project and Sales Information - The company has been asked about the completion timeline for the Fangshan and Tongzhou projects, which are expected to be completed by 2026 [1] - Current sales figures for biodiesel were not disclosed, with the company indicating that specific details will be provided in future reports or announcements [1] Group 2: Long-term Vision and Strategic Response - Langkun Technology aims to focus on core technology research in bio-manufacturing, expand into high-value product areas, optimize production capacity and supply chain, and enhance talent development to improve market competitiveness [1] - In response to the Shenzhen government's plan for a 7 trillion yuan increase in market capitalization for listed companies by 2027, the company plans to actively engage in its main business, improve operational performance, and enhance communication with investors to align its value and market capitalization [1]

投资者提问：请问公司中标的房山和通州项目26年可以竣工吗？还有公司生物柴油目前销售多少？公司 立志成为生物智造的世界级企业有什么远景规划？这个不是打的，是要实际的拿出措施来的，深圳市政 府规划到27年辖区内上市公司市值增长7万亿，请问公司怎么响应政府号召？照目前情况看朗坤是拖后 腿的企业，怎么能匹配公司被评为广东科技50强？ 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。 证券之星消息，朗坤科技(301305)11月24日在投资者关系平台上答复投资者关心的问题。 朗坤科技回复：尊敬的投资者，您好！项目建设进展及生物柴油当前销售量，具体请以公司后续发布的 定期报告或相关公告为准；在 "成为生物智造世界级企业" 的远景规划方面，公司将聚焦生物智造核心 技术研发，持续拓展高附加值产品领域，优化产能布局与供应链体系，加强人才团队建设，逐步提升市 场竞争力，相关具体举措将结合行业发展与公司实际情况稳步推进；针对深圳市政府关于 2027 年辖区 内上市公司市值增长 7 万亿的规划，公司将积极响应号召，通过深耕主营业务、提升经营业绩、加强投 资者 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603822 | 嘉澳环保 | 83.66 | 2.54% | 6.53万 | 5.29 Z | | 688196 | 卓越新能 | 52.50 | 1.70% | 1.42万 | 7368.79万 | | 000159 | 国际实业 | 5.79 | 1.58% | 26.30万 | 1.52亿 | | 300664 | 鹏鹞环保 | 5.69 | 1.25% | 19.03万 | 1.08亿 | | 000803 | 山高坏能 | 6.95 | -0.29% | 13.92万 | 9611.90万 | | 000930 | 中粮科技 | 5.88 | -0.51% | 20.84万 | 1.23亿 | | 603334 | 丰倍生物 | 43.44 | -0.73% | 2.73万 | 1.18亿 | | 300072 | 海新能科 | 4.57 | -3.59% | 109.34万 | 4.96亿 | 证券之星消息，11月24日生物柴油板块较 ...

美国豆农的"政策红包"说黄就黄？ 2026年要落地的进口生物燃料补贴削减计划，突然被白宫按下暂停键，推迟到2027年甚至2028年。 这波操作不仅让芝加哥豆油期货跌了2%，更让美国农场主直呼"被自己政府背刺"。 周叔今天就跟大伙掰扯掰扯，这背后到底是利益博弈还是政治算计？对咱们国内油脂市场又有啥影响？ 政策大反转：豆农欢喜变空喜 说句实在话，美国豆农这两年过得不算顺。 好不容易等来了EPA的"政策大礼包"，结果还没捂热就飞了。 原来美国有个可再生燃料标准（RFS），要求汽柴油里必须掺生物燃料，达标企业能拿"绿色积分"RIN。 EPA原本计划2026年1月起，进口生物燃料的RIN额度砍半，这意味着进口废食用油等原料没了补贴优势，炼油厂只能多买美国本土豆油、菜油当原料。 对豆农来说，这就是能源转型的红利，大豆不仅能卖豆粕，豆油还能蹭上生物柴油的风口。 可白宫突然变卦，核心原因就三个字：怕涨价。 市场连锁反应：全球油脂掀波澜 咱们先看美国国内，这推迟可不是晚一两年那么简单，而是实实在在的利益损失。 美国生物柴油行业现在高度依赖进口原料，2024年光从中国就买了127万吨废食用油。 要是砍了进口补贴，炼油厂要么买更贵 ...

开源证券近日发布基础化工行业点评报告：据隆众资讯数据，截至11月19日，中国一代、二代生物柴油 FOB价格分别为1,165、1,900美元/吨，分别较2025年年初+11%、+24%。2025年以来，受终端需求增长 带动，生物柴油价格稳步增长。 RED III法案取消UCO双倍降碳政策，生柴需求有望增加 2026年欧盟将逐步执行RED III法案，其较RED II提高了2030年降碳目标，将可再生能源消费占比目标 从32%提高到至少42.5%；交通领域可再生能源占比目标从14%提高至29%；取消对UCO为原料生产生 物柴油双倍降碳的政策。换言之，2026年开始欧盟提高碳排放目标，对生物柴油，尤其是二代生物柴油 需求增加。同时取消UCO双倍降碳政策，生物柴油以及UCO的需求量将接近翻倍的增长。据USDA数据 及我们测算，2025年预计欧盟以UCO为原料生产的生物柴油需求量为374万吨，RED III法案落地后需求 量或将至少再增加400万吨。 受益标的：卓越新能、海新能科、嘉澳环保、山高环能等。 风险提示：政策推进不及预期、原材料价格大幅上涨、技术进步不及预期等。（开源证券 金益腾,宋梓 荣,李思佳） 以下为研 ...

截至发稿，嘉澳环保市值为63亿元。 每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 贾运可） 每经AI快讯，嘉澳环保（SH 603822，收盘价：81.59元）11月21日晚间发布公告称，公司第六届第二十 三次董事会会议于2025年11月21日在公司会议室以现场会议与通讯会议相结合的方式召开。会议审议了 《关于选举代表公司执行公司事务的董事的议案》等文件。 2024年1至12月份，嘉澳环保的营业收入构成为：环保型增塑剂占比64.4%，生物柴油占比32.57%，其 他业务占比3.03%。 ...

Core Viewpoint - The report from Kaiyuan Securities highlights the increasing demand for biodiesel in China and globally, driven by terminal demand growth and regulatory changes, particularly the implementation of the RED III directive in the EU starting in 2026 [1][4]. Domestic Market Developments - The first domestic B5 biodiesel injection for internal trade was completed on November 20, marking a significant step in the use of biodiesel in domestic shipping [2][3]. - The Ministry of Commerce's recent policy supports the blending of domestic biodiesel with marine fuel oil, which is expected to enhance the domestic biodiesel market [2]. International Market Trends - The "IMO net-zero framework" is anticipated to increase the demand for biodiesel, with projections indicating that Singapore's marine fuel injection could require millions of tons of biodiesel by 2030 [3]. - China's bonded marine fuel injection is expected to reach 1,988 million tons in 2024, with a potential increase of nearly 400 million tons in biodiesel demand if 20% biodiesel is blended [3]. Regulatory Changes in the EU - The RED III directive will raise the renewable energy consumption target in the EU from 32% to at least 42.5% by 2030, significantly increasing the demand for biodiesel, especially second-generation biodiesel [4]. - The removal of the double carbon reduction policy for used cooking oil (UCO) is expected to nearly double the demand for biodiesel and UCO in the EU [4]. Beneficiary Companies - Companies likely to benefit from these trends include Zhuoyue New Energy (688196.SH), Haineng Technology (300072.SZ), Jiaao Environmental Protection (603822.SZ), and Shanggou Environmental Energy (000803.SZ) [5].