本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 龙佰集团股份有限公司（以下简称"公司"）分别于 2025 年 7 月 31 日、2025 年 8 月 20 日召开第八届董事会第二十次会议、2025 年第一次临时股东大会，审 议通过了《关于发行债券类融资工具的一般授权的议案》，同意公司以一批或分 批形式发行债券类融资工具，待偿还余额总计不超过折合人民币 60 亿元。具体 内容详见公司于 2025 年 8 月 1 日、2025 年 8 月 21 日刊载于《中国证券报》《证 券时报》《上海证券报》及巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 近日，公司收到中国证券监督管理委员会出具的《关于同意龙佰集团股份有 限公司向专业投资者公开发行科技创新公司债券注册的批复》（证监许可〔2026〕 525 号），批复主要内容如下： 一、同意公司向专业投资者公开发行面值总额不超过 20 亿元科技创新公司 债券的注册申请。 证券代码：002601 证券简称：龙佰集团 公告编号：2026-020 龙佰集团股份有限公司 关于向专业投资者公开发行科技创新公司 ...

证券研究报告：基础化工 | 公司深度报告 发布时间：2026-03-26 股票投资评级 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 17.25 | | --- | --- | | 总股本/流通股本（亿股）23.84 / 19.88 | | | 总市值/流通市值（亿元）411 / 343 | | | 52 周内最高/最低价 | 23.35 / 15.98 | | 资产负债率(%) | 61.0% | | 市盈率 | 18.96 | | 第一大股东 | 许冉 | 研究所 分析师:刘海荣 SAC 登记编号:S1340525120006 Email:liuhairong@cnpsec.com 分析师:李家豪 SAC 登记编号:S1340525120005 Email:lijiahao@cnpsec.com 龙佰集团(002601) 内修"矿化一体"护城河，外拓"全球钛业"无尽疆 ⚫ 报告要点 （1）龙佰集团是一家致力于钛、锆、锂等新材料研发制造及产业 深度整合的大型多元化企业集团，深耕化工行业 30 余年成为钛产业 龙头。25 年拟收购 VenatorUK 英国 Greatham15 万吨 ...

证券代码：002601 证券简称：龙佰集团 公告编号：2026-019 关于回购公司股份比例达到 1%暨回购进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、回购股份的基本情况 1、龙佰集团股份有限公司（以下简称"公司"）于2024年6月17日召开的第八 届董事会第十二次会议审议通过了《关于回购公司股份方案的议案》，同意公司 以自有资金通过集中竞价交易方式回购公司已发行的人民币普通股（A股）股票， 用于员工持股计划或者股权激励（以下简称"上期回购"）。回购股份的价格为 不超过人民币32.10元/股（含），回购股份的资金总额不低于人民币10,000.00万 元（含）且不超过人民币20,000.00万元（含）。回购股份的实施期限为自董事会 审议通过本次回购公司股份方案之日起12个月内。公司于2024年7月18日至2024 年12月26日通过股份回购专用证券账户以集中竞价方式累计回购公司股份 11,882,700股，占公司目前总股本的0.4984%，最高成交价为18.30元/股，最低成 交价为15.32元/股，成交总金额为199,976,677.00元（ ...

地缘局势预期波动不改行业长期逻辑推进 核心观点 基础化工行业 行业研究 | 行业周报 有关分析师的申明，见本报告最后部分。其他重要信息披露见分析师申明之后部分，或请与您的投资代表联系。并请阅读本证券研究报告最后一页的免责申明。 投资建议与投资标的 ⚫ 中东局势现实趋严而预期缓解：本周行情仍主要受中东局势主导。虽然霍尔木兹海 峡通行问题还未有效缓解，油价与绝大多数化工品价格持续上涨，但股票行情却出 现较大的波动。我们认为波动的主要原因是市场对于局势可能较快缓解的预期变 化。然而从目前情势看，油气原料的现实短缺问题还在不断加剧。特别是海外化工 企业受制于整体资源体量问题，不稳定性更大。我们认为短期内可能会出现越来越 多的海外化工企业调降负荷，甚至停产。对于投资来说，首先现实与预期的进一步 分化会带来短期机会。更重要的是对于战争前就处于景气提升通道的行业来说，战 争导致的供给短期缺失，实际加速了中长期逻辑的推进。因此我们仍然看好前期重 点关注的聚氨酯，PVC 和聚酯瓶片等子行业。 ⚫ 关注甜味剂行业供需边际向好变化：市场前期对三氯蔗糖景气预期较低，主要是因 为 24 下半年至 25 上半年行业进行过一轮减产协同，但 ...

Group 1 - The article discusses the postponement of Trump's visit to China, with the Chinese Foreign Ministry confirming that the meeting will take place in about five to six weeks [2][3] - Iran has warned that oil facilities in Saudi Arabia, the UAE, and Qatar have become legitimate targets for attacks, following missile strikes on oil facilities [2][3] - The U.S. Federal Reserve has decided to maintain the federal funds rate target range at 3.5% to 3.75%, marking the second consecutive time it has held rates steady [5][6] Group 2 - The China Securities Regulatory Commission (CSRC) emphasizes the need to eliminate obstacles affecting capital market reforms and to protect the rights of small investors [2][8] - AI demand is surging, leading companies like Alibaba Cloud and Baidu Smart Cloud to raise prices on some products, with expectations of increased computing power demand in the next 3 to 6 months [2][8] - The International Air Transport Association (IATA) forecasts that global air passenger demand will more than double by 2050 [2][8] Group 3 - The domestic titanium dioxide industry leader, Longbai Group, has announced a price increase for its "Xuelian" brand products, marking a rapid adjustment within 14 days [9] - Tencent Holdings reported a fourth-quarter NON-IFRS net profit of 64.69 billion yuan, reflecting a year-on-year growth of 17% [10] - Ningde Times responded to changes in electric vehicle subsidy policies, indicating that the new policies will favor mid-to-high-end models, which could enhance the company's market position [12] Group 4 - Global storage chip shortages may persist until 2030, according to SK Hynix, which is considering issuing American Depositary Receipts (ADRs) to stabilize prices [19] - The "Token factory" concept introduced by NVIDIA's CEO highlights the importance of tokens as a currency in the AI era, with expectations for increased demand in AI applications [18]

近日，融资租赁公司已完成上述交易的相关工商变更登记手续，并取得广州 南沙经济技术开发区行政审批局换发的《营业执照》，融资租赁公司更名为中焦 融资租赁（广州）有限公司。 特此公告。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 龙佰集团股份有限公司（以下简称"公司"）于 2025 年 12 月 29 日召开的 第八届董事会第二十六次会议审议通过了《关于出售融资租赁公司股权的议案》， 为进一步聚焦公司核心主业发展，优化资源配置，公司及全资子公司佰利联（香 港）有限公司（以下简称"香港公司"）拟将持有的佰利联融资租赁（广州）有 限公司（以下简称"融资租赁公司"）98.50%股权全部转让给焦作市国有资本运 营（控股）集团有限公司（以下简称"焦作市国资集团"）。其中，公司拟向焦 作市国资集团转让 65.17%股权（对应认缴出资额 19,550 万元，实缴出资额 17,000 万元），转让价格为 194,976,123.36 元人民币；香港公司拟向焦作市国资集团转 让 33.33%股权（对应认缴出资额 10,000 万元，已全部实缴），转让价格为 114,691,837 ...

证券代码：002601 证券简称：龙佰集团 公告编号：2026-017 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特此公告。 龙佰集团股份有限公司董事会 龙佰集团股份有限公司 2026 年 3 月 17 日 关于子公司增资扩股进展暨完成工商变更登记的公告 龙佰集团股份有限公司（以下简称"公司"）于 2025 年 12 月 29 日召开的 第八届董事会第二十六次会议审议通过了《关于子公司引入战略投资者暨实施增 资扩股的议案》，同意引入的战略投资者向公司下属子公司河南佰利联新材料有 限公司（以下简称"佰利联新材料"）合计增资 200,000.00 万元，认购佰利联新材 料 77,795.8656 万元新增认缴注册资本，合计取得佰利联新材料增资后的股权比 例 31.40%。具体内容详见公司于 2025 年 12 月 30 日刊载于《中国证券报》《证 券时报》《上海证券报》及巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 一、交易进展情况 佰利联新材料已收到战略投资者缴付的 200,000.00 万元增资款，已于近日完 成本次增资扩股 ...

Investment Rating - The report does not explicitly state an investment rating for the chemical industry, but it provides various investment suggestions based on the analysis of different segments within the industry [6]. Core Insights - The petrochemical industry is a pillar of the national economy, with a significant economic volume, long industrial chain, and wide product variety, impacting supply chain security, green development, and public welfare [8]. - The report identifies four major directions related to the chemical industry based on the "14th Five-Year Plan": security assurance in key areas, comprehensive rectification of "involution" competition, domestic substitution of new materials, and green low-carbon economy [8]. Summary by Sections 1. National Economic Pillar Industry - The petrochemical industry is crucial for economic stability, with projected revenues of 15.7 trillion yuan in 2025, a 3% decrease year-on-year, and total profits of 702.09 billion yuan, down 9.6% [8]. 2. Strengthening Strategic Material Supply - The "14th Five-Year Plan" aims for a grain production capacity of 1.45 trillion jin and energy production capacity of 5.8 billion tons of standard coal, emphasizing the importance of fertilizer supply stability and energy resource security [9]. - Key companies to watch include Hualu Hengsheng, Yuntianhua, and China Petroleum, focusing on fertilizer supply and oil and gas production [9][11]. 3. Comprehensive Rectification of "Involution" Competition - The report suggests that the PTA industry is expected to see an upward correction in demand due to improved supply and demand conditions, with a projected capacity of 90.35 million tons and production of 73.42 million tons by 2025 [43][44]. - The polyester filament industry is becoming more concentrated, which may lead to a more orderly market supply, with a production capacity of 53.16 million tons by 2025 [48][49]. 4. Empowering Emerging Industries and Accelerating Domestic Substitution of New Materials - The report highlights the potential for new materials such as PEEK and electronic-grade PPO to drive growth in emerging industries, with significant investment opportunities in companies like Zhongyan Co., Guo'en Co., and Watte Co. [10]. 5. Accelerating Green Low-Carbon Transition - The "14th Five-Year Plan" emphasizes achieving carbon peak targets, with a focus on clean energy systems and reducing carbon emissions by 17% per unit of GDP by 2025 [10]. - Companies like Satellite Chemical and Wanhua Chemical are noted for their competitive advantages in green low-carbon production [10].

Investment Rating - The report does not explicitly state an investment rating for the chemical industry, but it provides various investment suggestions based on the analysis of different segments within the industry [6]. Core Insights - The petrochemical industry is a pillar of the national economy, with a significant economic volume, long industrial chain, and wide product variety, impacting supply chain security, green development, and public welfare [8]. - The report identifies four major directions related to the chemical industry based on the "14th Five-Year Plan": security assurance in key areas, comprehensive rectification of "involution" competition, domestic substitution of new materials, and green low-carbon economy [8][9]. Summary by Sections 1. National Economic Pillar Industry - The petrochemical industry is crucial for economic stability, with projected revenues of 15.7 trillion yuan in 2025, a 3% decrease year-on-year, and total profits of 702.09 billion yuan, down 9.6% [8]. 2. Strengthening Strategic Material Supply - The "14th Five-Year Plan" aims for a grain production capacity of 1.45 trillion jin and energy production capacity of 5.8 billion tons of standard coal, emphasizing the importance of fertilizer supply stability and energy resource security [9]. - Key companies to watch include Hualu Hengsheng, Yuntianhua, and China Petroleum [9]. 3. Comprehensive Rectification of "Involution" Competition - The report suggests that the PTA industry is expected to see an upward correction in demand due to improved supply and demand conditions, with a focus on companies like Hengli Petrochemical and Rongsheng Petrochemical [9][10]. - The report highlights the need for industry self-discipline to combat excessive competition and improve profitability [9]. 4. Empowering Emerging Industries - The report discusses the acceleration of domestic substitution in new materials, with a focus on PEEK, electronic-grade PPO, and OLED materials, suggesting companies like Zhongyan Co., Guoen Co., and Aolaide [10][11]. 5. Accelerating Green Low-Carbon Transition - The report emphasizes the importance of achieving carbon peak targets and highlights the competitive advantages of light hydrocarbon chemicals and bio-chemicals in the green economy [10][11]. 6. Investment Recommendations - The report suggests focusing on companies with integrated advantages and strong R&D capabilities in the fertilizer sector, as well as those involved in oil and gas exploration and production [9][10].

证券代码：002601 证券简称：龙佰集团 公告编号：2026-016 三、股东股份累计质押情况 龙佰集团股份有限公司 关于公司股东股份质押及解除质押的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 近日，龙佰集团股份有限公司（以下简称"公司"）接到公司股东谭瑞清先生 的通知，获悉谭瑞清先生所持有的本公司部分股份办理了质押及解除质押。具体 事项如下： | | 是否为控股股 | | 占其所 | 占公 司总 | | 是否 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 东或第一大股 | 本次质押数 | 持股份 | | 是否为 | 为补 | 质押起始 | | 质押到期 | | | 质押 | | 名称 | 东及其一致行 | 量（股） | 比例 | 股本 | 限售股 | 充质 | 日 | | 日 | | 质权人 | 用途 | | | 动人 | | (%) | 比例 | | 押 | | | | | | | | | ...