Group 1 - The company Zhejiang Longsheng announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 0.20 yuan per share (tax included) for A-shares [2] - The record date for the dividend is set for September 23, 2025, with the ex-dividend date and cash dividend payment date both scheduled for September 24, 2025 [2]

浙江龙盛集团股份有限公司 证券代码：600352 证券简称：浙江龙盛 公告编号：2025-040 2025年半年度权益分派实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利0.20元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/9/23 | － | 2025/9/24 | 2025/9/24 | 差异化分红送转： 否 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 9 月 9 日的2025年第一次临时股东大会审议 通过。 二、分配方案 1.发放年度：2025年半年度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3.分配方案： 本次利润分配以方案实施前的公司总股本3,253,331,860股为基 ...

Investment Rating - The report maintains a "Positive" rating for the chemical industry [6][12]. Core Insights - The macroeconomic judgment indicates that non-OPEC countries are expected to lead an increase in oil production, with a significant overall supply growth anticipated. Global GDP growth is projected to remain at 2.8%, with stable oil demand, although the growth rate may slow due to tariff policies [6][7]. - The expectation of a Federal Reserve interest rate cut is likely to boost demand during the peak season of September and October. Additionally, the leakage incident of GFL R32 in India may enhance China's export opportunities [6][12]. - The report highlights the ongoing investigation into anti-dumping practices against imported semiconductor chips from the U.S., which may benefit domestic semiconductor materials [6][12]. Summary by Sections Macroeconomic Analysis - Oil supply is expected to increase significantly, driven by non-OPEC production, while demand remains stable despite potential slowdowns due to tariffs. Geopolitical factors, including U.S.-China tariff relief and the Russia-Ukraine situation, are influencing oil prices [6][7]. - Coal prices are anticipated to stabilize at a low level, and natural gas export facilities in the U.S. may accelerate, leading to lower import costs [6][7]. Chemical Sector Configuration - The report suggests a strategic focus on four areas: textile and apparel chain, agricultural chemicals, export chain, and sectors benefiting from "de-involution" policies. Specific companies are recommended for investment based on their market positions and growth potential [6][12]. Key Material Focus - Emphasis is placed on the importance of self-sufficiency in key materials, particularly in semiconductor and panel materials, with specific companies highlighted for their potential in these sectors [6][12]. Price Trends - Recent data indicates fluctuations in various chemical prices, with PTA prices down by 0.3% and MEG down by 2.0%. The report notes that the overall industrial product PPI has shown a year-on-year decline of 2.9% [12][13][16]. Company Valuations - A detailed valuation table is provided, showcasing various companies in the agricultural chemicals and chemical sectors, with ratings ranging from "Buy" to "Increase" based on their market performance and projected earnings [20].

Group 1 - The core viewpoint of the article highlights that Zhejiang Longsheng's net profit attributable to shareholders for the first half of the year is 928 million yuan, reflecting a year-on-year increase of 2.84% [1] - The company announced an interim dividend plan, proposing a cash dividend of 2.00 yuan per 10 shares (tax included), resulting in a dividend payout ratio of 70.12% for the first half of 2025 [1] - The dye industry is expected to recover, and the company maintains a strong market position with significant cost advantages, supporting a high dividend level and a "buy" rating [1] Group 2 - In the dye and additive sectors, the company holds the leading market share in the industry [1] - The company has approved a proposal to acquire the remaining 37.57% shares of Desida Global Holdings (Singapore) Limited, with the project already submitted for record registration to the National Development and Reform Commission and the Ministry of Commerce as of the mid-2025 report [1] - The company is extending its business into other fine chemical products based on an integrated industrial chain, enhancing cost advantages and environmental competitiveness [1] Group 3 - The real estate business is progressing steadily, and high-quality assets are expected to support the company's cash flow [1]

Investment Rating - The investment rating for the company is "Buy" with a market price of RMB 10.51 and a sector rating of "Outperform" compared to the market [2][4]. Core Views - The company reported a significant increase in Q2 performance, with a proposed cash dividend of RMB 2.00 per 10 shares, reflecting a high dividend payout ratio of 70.12% for H1 2025. Despite a decline in revenue, the company maintains a strong market position and cost advantages in the dye industry, supporting the "Buy" rating [4][6]. Financial Performance Summary - For H1 2025, the company achieved total revenue of RMB 6.505 billion, a year-on-year decrease of 6.47%. The net profit attributable to the parent company was RMB 927.89 million, up 2.84% year-on-year. The second quarter revenue was RMB 3.269 billion, down 5.71% year-on-year but up 1.07% quarter-on-quarter [10][11]. - The dye business generated revenue of RMB 3.632 billion in H1 2025, a decrease of 3.17% year-on-year, with a gross margin increase of 4.40 percentage points to 34.17% [9][10]. - The company’s overall gross margin for H1 2025 was 29.80%, an increase of 1.87 percentage points year-on-year, with a net profit margin of 16.14%, up 1.39 percentage points year-on-year [9][10]. Earnings Forecast - The earnings per share (EPS) estimates for 2025-2027 are RMB 0.69, RMB 0.73, and RMB 0.83, respectively, with corresponding price-to-earnings (PE) ratios of 15.2x, 14.3x, and 12.7x. The company’s strong scale advantages and steady progress in real estate are expected to contribute to growth [6][8]. Industry Position - The company holds a leading market share in the dye and additive sectors, with ongoing efforts to enhance its direct sales business. The real estate segment is also progressing, with a high sell-through rate of 95.1% for available units in the Bay project [9][10].

Meeting Overview - The first extraordinary general meeting of shareholders for 2025 was held on September 9, 2025, at the company's office building in Shaoxing, Zhejiang Province [2] - The meeting was presided over by the chairman of the board, Mr. Ruan Weixiang, and complied with the relevant laws and regulations [2][3] Resolutions Passed - The following resolutions were approved during the meeting: - Proposal for the 2025 interim profit distribution plan [4] - Proposal to cancel the supervisory board and amend the company's articles of association [4] - Proposal to amend the company's rules for shareholder meetings [5] - Proposal to amend the company's rules for board meetings [5] - Proposal to amend the independent director working rules [5] - Proposal to amend the related party transaction decision-making rules [5] - The proposal to cancel the supervisory board was a special resolution and required a two-thirds majority, which was achieved [5] Legal Verification - The meeting was witnessed by Zhejiang Tian Ce Law Firm, confirming that the procedures and voting results were in compliance with legal and regulatory requirements [6] Organizational Changes - The supervisory board has been canceled, and the audit committee of the board will assume the responsibilities previously held by the supervisory board [7][8] - The company expressed gratitude to the supervisory board members for their contributions during their tenure [8] Management Changes - Mr. He Xubin resigned from his position as a director and vice president due to work adjustments but will continue to hold other positions within the company [12] - Mr. He Xubin was elected as the employee representative director of the tenth board of directors, maintaining the total number of board members [13][14]

Group 1 - The company Zhejiang Longsheng announced the resignation of its director and vice president He Xubin due to work adjustments [2] - He Xubin's resignation will take effect immediately upon delivery to the board of directors, but he will continue to hold other positions within the company [2] - The company will hold a joint committee meeting on September 9, 2025, to elect He Xubin as a representative director of the tenth board, with a term lasting until the end of the tenth board's term [2]

浙江龙盛集团股份有限公司 关联交易制度 浙江龙盛集团股份有限公司 关联交易制度 (修 订 稿) （2025年9月9日公司2025年第一次临时股东大会审议通过） 第一章 总则 第一条 为保证浙江龙盛集团股份有限公司（以下简称"公司"）与关联人之 间的关联交易符合公平、公正、公开的原则，确保公司的关联交易行为不损害公 司和非关联股东的合法权益，根据《中华人民共和国公司法》《中华人民共和国证 券法》《上海证券交易所股票上市规则》（以下简称《上市规则》）、《上海证券交易 所上市公司自律监管指引第5号——交易与关联交易》等有关法律、法规、规范性 文件及《公司章程》的有关规定，制定本制度。 第二条 公司与关联人之间的关联交易行为除遵守有关法律、法规、规范性文 件和《公司章程》的规定外，还需遵守本制度的有关规定。 第三条 公司应当保证关联交易的合法性、必要性、合理性和公允性，保持 公司的独立性，不得利用关联交易调节财务指标，损害公司利益。交易各方不得 隐瞒关联关系或者采取其他手段，规避公司的关联交易审议程序和信息披露义务。 第二章 关联人和关联关系 第四条 公司关联人包括关联法人（或者其他组织）和关联自然人。 具有以下情形 ...

浙江龙盛集团股份有限公司 章 程 (修订稿) （本章程修订稿经公司 2025 年第一次临时股东大会审议通过） 二O二五年九月九日 浙江龙盛集团股份有限公司 公司章程 目 录 第三章 股份 第四章 股东和股东会 第五章 董事和董事会 第六章 总经理及其他高级管理人员 第七章 财务会计制度、利润分配和审计 第八章 通知与公告 第一节 通知 第 1 页 共 38 页 第一章 总则 第二章 经营宗旨和范围 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第一节 股东 第二节 控股股东和实际控制人 第三节 股东会的一般规定 第四节 股东会的召集 第五节 股东会的提案与通知 第六节 股东会的召开 第七节 股东会的表决和决议 第一节 董事 第二节 独立董事 第三节 董事会 第四节 董事会专门委员会 第五节 董事会秘书 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 浙江龙盛集团股份有限公司 公司章程 第二节 公告 第九章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十章 修改章程 第十一章 附则 第 2 页 共 38页 浙江龙盛集团股份有限公司 ...

浙江龙盛集团股份有限公司 独立董事工作规则 浙江龙盛集团股份有限公司 独立董事工作规则 (修 订 稿) （2025年9月9日公司2025年第一次临时股东大会审议通过） 第一章 总 则 第一条 为了进一步完善浙江龙盛集团股份有限公司（以下简称公司）的公 司治理，为独立董事履职创造良好的条件，根据《中华人民共和国公司法》、《关 于上市公司独立董事制度改革的意见》、中国证券监督管理委员会（以下简称中 国证监会）《上市公司治理准则》、《上市公司独立董事管理办法》、《上海证券交 易所股票上市规则》以及公司《章程》等规定，制定本规则。 第二条 独立董事是指不在公司担任除董事之外的其他职务，并与公司及其 主要股东、实际控制人不存在直接或者间接利害关系，或者其他可能影响其进行 独立客观判断关系的董事。 第三条 独立董事应当独立公正地履行职责，不受公司及其主要股东、实际 控制人等单位或者个人的影响。 第四条 独立董事对公司及全体股东负有忠实与勤勉义务，应当按照相关法 律、行政法规、中国证监会规定、上海证券交易所业务规则、公司《章程》及本 规则的要求，认真履行职责，在董事会中发挥参与决策、监督制衡、专业咨询作 用，维护公司整体利 ...