CSRC agrees to Fengbei Biology's IPO registration on the Shanghai Stock Exchange.

On September 5th, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering of Shares of Suzhou Fung Bio Technology Co., Ltd." It is reported that Fung Bio plans to be listed on the Shanghai Stock Exchange, with Guotai Haitong as its sponsoring institution, aiming to raise 1 billion yuan. The prospectus shows that Fung Bio is a high-tech enterprise in the field of comprehensive utilization of abandoned resources, mainly producing resource-based products from waste oils and fats. Based on long-term research and development investment and industrial practice, the company continuously expands the depth and breadth of comprehensive utilization of waste oils and fats, forming a waste resource regeneration industry chain of "waste oils and fats - biofuels (biodiesel) - bio-based materials." By the end of 2024, the company has a biodiesel production capacity of 105,000 tons, ranking sixth in China's biodiesel industry in terms of production capacity. According to USDA statistics, China's biodiesel production in 2024 is estimated to be around 1.71 million tons, with Fung Bio's biodiesel production at 80,100 tons, giving the company a market share of approximately 4.68% based on production volume.