【导读】沉痛哀悼！龙佰集团子公司发生安全事故致5人死亡 9月8日，龙佰集团（002601）发布公告称，公司全资子公司龙佰襄阳钛业有限公司（以下简称龙佰襄阳）硫酸生产线于9月2日晚发生安全事故，导致2人 死亡，3人送医经抢救无效死亡，1人经手术治疗后目前生命体征平稳。 龙佰集团向本次事故罹难人员表示沉痛哀悼，向罹难人员家属表示诚挚歉意。目前，龙佰襄阳已有序停产。 子公司发生安全事故致5人死亡 龙佰集团：沉痛哀悼 9月8日，龙佰集团发布公告称，公司全资子公司龙佰襄阳硫酸生产线于9月2日发生一起安全事故，导致2人死亡，3人送医经抢救无效死亡，1人经手术治 疗后目前生命体征平稳。 龙佰集团向本次事故罹难人员表示沉痛哀悼，向罹难人员家属表示诚挚歉意。龙佰集团表示，公司已成立专项工作小组进行相关善后工作，并将督促龙佰 襄阳按照相关要求尽快完成整改工作。预计前述事项对公司的持续生产经营能力不会造成重大影响。 根据公告，事故发生后，龙佰襄阳启动应急预案，采取各项紧急应对措施，组织抢救工作，及时按相关程序上报当地政府及各相关部门，并积极配合完成 相关工作。龙佰襄阳于2025年9月5日收到当地应急管理部门下发的《现场处理措施决定 ...

证券研究报告 | 公司动态点评 2025 年 09 月 08 日 龙佰集团（002601.SZ） 公司主要产品价格下跌拖累短期业绩，看好公司钛矿资源储备提升 | 财务指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 26,765 | 27,513 | 29,257 | 32,242 | 34,067 | | 增长率 yoy（%） | 11.0 | 2.8 | 6.3 | 10.2 | 5.7 | | 归母净利润（百万元） | 3,226 | 2,169 | 2,943 | 3,556 | 4,229 | | 增长率 yoy（%） | -5.6 | -32.8 | 35.7 | 20.8 | 18.9 | | ROE（%） | 13.0 | 8.7 | 10.4 | 11.2 | 11.7 | | EPS 最新摊薄（元） | 1.35 | 0.91 | 1.23 | 1.49 | 1.77 | | P/E（倍） | 13.8 | 20.6 | 15.2 | 12.6 | ...

证券代码：002601 证券简称：龙佰集团 公告编号：2025-043 龙佰集团股份有限公司 龙佰襄阳于 2025 年 9 月 5 日收到当地应急管理部门下发的《现场处理措施 决定书》，责令"暂时停业整顿"。为防范次生事故发生，配合事故原因调查， 龙佰襄阳已按照政府有关要求进行有序停产，全面排查安全隐患。 二、对公司的影响 龙佰襄阳为公司主营产品钛白粉的生产基地之一，目前已按照政府有关要求 进行有序停产。公司其他各子公司生产经营正常。 公司向本次事故罹难人员表示沉痛哀悼，向罹难人员家属表示诚挚歉意，公 司已成立专项工作小组进行相关善后工作，并将督促龙佰襄阳按照相关要求尽快 完成整改工作。预计前述事项对公司的持续生产经营能力不会造成重大影响。 公司将根据本次事故的进展，按照相关信息披露规则要求及时履行信息披露 义务，敬请广大投资者注意投资风险。 特此公告。 关于襄阳子公司发生安全事故的公告 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。 一、事故基本情况 2025 年 9 月 2 日晚，龙佰集团股份有限公司（以下简称"公司"）全资子 公司龙佰襄阳钛业有限公司（以 ...

【龙佰集团：子公司发生安全事故致5人死亡 已暂时停业整顿】智通财经9月8日电，龙佰集团 (002601.SZ)公告称，公司全资子公司龙佰襄阳钛业有限公司硫酸生产线于9月2日晚发生安全事故，导 致2人死亡，3人送医经抢救无效死亡，1人经手术治疗后目前生命体征平稳。龙佰襄阳已按照政府有关 要求进行有序停产，全面排查安全隐患。公司已成立专项工作小组进行相关善后工作，并将督促龙佰襄 阳按照相关要求尽快完成整改工作。预计前述事项对公司的持续生产经营能力不会造成重大影响。 转自：智通财经 ...

龙佰襄阳于2025年9月5日收到当地应急管理部门下发的《现场处理措施决定书》，责令"暂时停业整 顿"。为防范次生事故发生，配合事故原因调查，龙佰襄阳已按照政府有关要求进行有序停产，全面排 查安全隐患。 格隆汇9月8日丨龙佰集团(002601.SZ)公布，2025年9月2日晚，龙佰集团股份有限公司全资子公司龙佰 襄阳钛业有限公司(简称"龙佰襄阳")硫酸生产线发生一起安全事故，导致2人死亡，3人送医经抢救无效 死亡，1人经手术治疗后目前生命体征平稳。事故发生后，龙佰襄阳启动应急预案，采取各项紧急应对 措施，组织抢救工作，及时按相关程序上报当地政府及各相关部门，并积极配合完成相关工作。 ...

Core Viewpoint - Longbai Group's subsidiary experienced a safety incident resulting in multiple fatalities, leading to a temporary shutdown for safety inspections and investigations [1] Group 1: Incident Details - On September 2, a safety accident occurred at Longbai Xiangyang's sulfuric acid production line, resulting in 2 deaths and 3 individuals sent to the hospital who later died despite rescue efforts [1] - One individual is currently stable after undergoing surgery [1] Group 2: Company Response - Longbai Xiangyang received a "Site Handling Measures Decision" from local emergency management on September 5, mandating a "temporary shutdown for rectification" [1] - The company is conducting an orderly shutdown and comprehensive safety hazard inspections in compliance with government requirements to prevent secondary accidents [1] Group 3: Operational Impact - Longbai Xiangyang is one of the main production bases for the company's primary product, titanium dioxide [1] - Other subsidiaries of the company are operating normally [1]

人民财讯9月8日电，龙佰集团(002601)9月8日晚间公告，9月2日晚，公司全资子公司龙佰襄阳硫酸生产 线发生一起安全事故，导致2人死亡，3人送医经抢救无效死亡，1人经手术治疗后目前生命体征平稳。 龙佰襄阳于2025年9月5日收到当地应急管理部门下发的《现场处理措施决定书》，责令"暂时停业整 顿"。为防范次生事故发生，配合事故原因调查，龙佰襄阳已按照政府有关要求进行有序停产，全面排 查安全隐患。龙佰襄阳为公司主营产品钛白粉的生产基地之一。公司其他各子公司生产经营正常。 转自：证券时报 ...

龙佰集团(002601.SZ)公告称，公司全资子公司龙佰襄阳钛业有限公司硫酸生产线于9月2日晚发生安全 事故，导致2人死亡，3人送医经抢救无效死亡，1人经手术治疗后目前生命体征平稳。龙佰襄阳已按照 政府有关要求进行有序停产，全面排查安全隐患。公司已成立专项工作小组进行相关善后工作，并将督 促龙佰襄阳按照相关要求尽快完成整改工作。预计前述事项对公司的持续生产经营能力不会造成重大影 响。 ...

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, with a focus on maintaining high operational rates despite a challenging market for titanium dioxide prices [1][2]. Financial Performance - In the first half of 2025, the company achieved revenue of 13.342 billion yuan, a year-on-year decrease of 3.35%, and a net profit attributable to shareholders of 1.385 billion yuan, down 19.53% [1]. - For Q2 2025, revenue was 6.282 billion yuan, reflecting a year-on-year decline of 3.5% and a quarter-on-quarter decrease of 11.01%. The net profit for Q2 was 699 million yuan, down 9.24% year-on-year but up 1.90% quarter-on-quarter [1]. Market Conditions - Titanium dioxide prices have remained stable at a low level, with the average price for Q2 2025 at 14,300 yuan per ton, down 11.6% year-on-year and 1.2% quarter-on-quarter [2]. - The company's titanium dioxide sales volume for the first half of 2025 was 612,000 tons, an increase of 2.08% year-on-year, with domestic sales accounting for 43.7% and exports 56.3% [2]. Operational Insights - The industry operating rate for titanium dioxide in Q2 2025 was around 70%, with the company maintaining a higher operating rate of 90.36% [2]. - The company is expected to benefit from new capacity additions in the domestic market, with 1.3 million tons expected in 2025 and 1.6 million tons in 2026, which may lead to a recovery in supply-demand dynamics post-peak production [2]. Strategic Developments - The company is focusing on expanding its titanium ore production capacity, with plans to double its controlled vanadium-titanium magnetite resources and extend the lifespan of its mines [3]. - A strategic cooperation agreement with Sichuan Resources Group aims to develop the Honggenan mine, which has significant iron ore and TiO2 reserves, enhancing the company's resource control [3]. Investment Outlook - The company is positioned as a global leader in titanium dioxide and sponge titanium production, with a strong cost advantage compared to overseas competitors [3]. - Projected net profits for 2025-2027 are 2.824 billion, 3.821 billion, and 4.256 billion yuan, representing year-on-year growth rates of 30.2%, 35.3%, and 11.4% respectively [3].

Investment Rating - The report maintains a "Strong Buy" rating for the company, indicating an expectation to outperform the benchmark index by over 20% in the next six months [1][17]. Core Views - The company achieved a revenue of 13.342 billion yuan in the first half of 2025, a year-on-year decrease of 3.35%, with a net profit attributable to shareholders of 1.385 billion yuan, down 19.53% year-on-year. In Q2 2025, revenue was 6.282 billion yuan, a decrease of 3.5% year-on-year and 11.01% quarter-on-quarter, while net profit was 699 million yuan, down 9.24% year-on-year but up 1.90% quarter-on-quarter [1]. - The company is expected to see significant growth in the mining sector in 2026, with new capacity additions anticipated [1][7]. Financial Performance Summary - Total revenue for 2024 is projected at 27.539 billion yuan, with a year-on-year growth rate of 2.8%. For 2025, revenue is expected to increase to 30.386 billion yuan, reflecting a growth rate of 10.3%, and further to 34.954 billion yuan in 2026, with a growth rate of 15.0% [3]. - The net profit attributable to shareholders is forecasted to be 2.169 billion yuan in 2024, with a significant recovery to 2.824 billion yuan in 2025 (30.2% growth) and 3.821 billion yuan in 2026 (35.3% growth) [3]. - The company’s earnings per share (EPS) is expected to rise from 0.91 yuan in 2024 to 1.18 yuan in 2025 and 1.60 yuan in 2026 [3]. Market Position and Competitive Advantage - The company holds the leading position in the titanium dioxide market, with a strong operational capacity and cost advantages compared to international competitors. The report highlights the company's ability to maintain high operating rates despite market fluctuations [7]. - The company is actively expanding its titanium ore resources, which is expected to enhance its pricing power and solidify its market position [7]. Future Outlook - The report anticipates that the company will benefit from the upcoming increase in domestic production capacity, with an expected addition of 1.3 million tons in 2025 and 1.6 million tons in 2026. This is expected to lead to a recovery in supply-demand dynamics post-peak production [7]. - The strategic partnership with Sichuan Resources Group for the development of the Honggen South Mine is expected to further strengthen the company's resource control and operational capabilities [7].