智通财经APP讯，丰倍生物(603334.SH)发布首次公开发行股票并在主板上市招股意向书，本次拟公开 发行股票3,590.00万股，发行股份占发行后公司股份总数的比例为25.02%，全部为公开发行新股，本次 发行前股东所持发行人股份在本次发行时不向投资者公开发售。本次公开发行后总股本为14,350.00万 股。本次初始战略配售发行数量为718.00万股，占本次发行数量的20.00%。此次发行上市初步询价日期 2025年10月22日，申购日期为2025年10月27日。 公司是一家废弃资源综合利用领域的高新技术企业，主要以废弃油脂生产资源化产品。基于长期的研发 投入和产业实践，公司在废弃油脂资源综合利用的深度及广度上不断拓展，形成了"废弃油脂—生物燃 料(生物柴油)—生物基材料"的废弃资源再生产业链。此外，公司还依托自身油脂综合利用核心技术和 渠道优势为客户提供油脂化学品。 公司主营业务以废弃油脂资源综合利用业务为主，油脂化学品业务为辅。废弃油脂资源综合利用业务主 要产品为生物基材料和生物燃料，其中生物基材料主要为农药助剂、化肥助剂等生物柴油配方产品和工 业级混合油;生物燃料主要为生物柴油;油脂化学品业务主要产 ...

Core Viewpoint - Fengbei Bio is a high-tech enterprise in the field of waste resource utilization, focusing on converting waste oils into biodiesel and bio-based materials, but faces challenges such as declining performance due to EU anti-dumping policies and insufficient R&D investment [2][14][20]. Company Overview - Fengbei Bio was established in July 2014 and transitioned to a joint-stock company in January 2022, with a registered capital of 5 million yuan [4]. - The founder, Ping Yuan, holds 85.40% of the shares, maintaining absolute control over the company [4][5]. - The company has acquired stakes in several related companies to enhance its operational scale and market competitiveness [4][6]. Financial Performance - Revenue for 2022, 2023, and projected 2024 is 1.709 billion yuan, 1.728 billion yuan, and 1.948 billion yuan, respectively, showing a growth of 31.89%, 1.12%, and 12.75% [9][10]. - Net profit for the same years is 133.34 million yuan, 129.71 million yuan, and 123.82 million yuan, indicating a decline of 2.73% and 4.54% in 2023 and 2024 [9][10]. - The company has distributed significant cash dividends of 15 million yuan and 16.14 million yuan in 2022 and 2023, respectively, totaling 31.14 million yuan [7]. Market Challenges - The company faces a significant decline in sales to the EU due to anti-dumping investigations, with sales figures dropping from 3.30 billion yuan in 2021 to 505.12 million yuan in the first half of 2024 [16][18]. - The EU accounts for 34.65% of global biodiesel consumption, making it a critical market for Fengbei Bio [12]. R&D and Competitive Position - R&D expenses as a percentage of revenue have decreased from 3.39% in 2023 to 2.75% in 2024, which is below the industry average [20][21]. - The company’s biodiesel production capacity is 105,000 tons, significantly lower than competitors like Zhuoyue New Energy and Jiaao Environmental Protection [22]. Future Outlook - The company is shifting its sales focus to emerging markets outside the EU, such as Switzerland and Singapore, in response to changing policies [15]. - The company’s financial health is concerning, with cash reserves of 167 million yuan against short-term borrowings of 173 million yuan, indicating potential liquidity issues [24][25].