编者按 近期，多种化工品、工业制品、原料价格掀起上涨浪潮，引发市场的广泛关注。价格跳动的曲线背后，藏着市场最关切的三重追问：此轮涨价由何驱动？ 这波涨势能持续多久？产业链上下游企业的业绩能否借此迎来修复契机，又将如何重塑行业竞争格局？ 春江水暖"价"先知。涨价，是经济脉络复苏中最灵敏的脉动信号。上海证券报微信公众号推出《市场探"涨"》系列报道，意在凸显这一系列价格变化背后 的市场活力与商业逻辑变迁。透过"涨"声，倾听复苏脚步；在潮起潮落之间，探见未来可期。 低迷多时的钛白粉涨价了。 近日，钛白粉龙头龙佰集团发布涨价函：8月18日起，公司各型号钛白粉销售价格上调，其中国内客户上调500元/吨，国际客户上调70美元/吨。基于生产 成本的变化，龙佰将保留进一步调整产品价格的权利。 据上证报记者了解，此次涨价的不仅只有龙佰集团，近期有超20家钛白粉生产企业集体宣涨。 "综合来看，此次涨价函的发函动机主要是由于原材料钛矿和硫酸价格持续高位，企业生产成本压力巨大，甚至部分企业亏本运行所致的。考虑到部分厂 家在6到8月减停产后库存水平较低，当前的看涨行情有望得到延续，钛白粉市场整体询盘交易氛围有逐步转暖的趋势。"22日，有 ...

Group 1: Price Increase Overview - The price of titanium dioxide has recently increased, with leading company Longbai Group announcing a price hike of 500 CNY/ton for domestic customers and 70 USD/ton for international customers starting August 18 [2][4] - Over 20 titanium dioxide producers have collectively announced price increases, driven by high raw material costs, particularly titanium ore and sulfuric acid, which have put significant pressure on production costs [4][9] - The overall market sentiment for titanium dioxide is improving, with increased order volumes and a reduction in low-price orders as the "Golden September and Silver October" peak season approaches [5][10] Group 2: Market Dynamics and Demand - The demand for titanium dioxide is primarily concentrated in the coatings, plastics, and paper industries, with steady growth observed in traditional downstream sectors such as coatings and plastics [9] - Emerging markets in Southeast Asia and the Middle East are driving demand growth, with an annual increase of approximately 5%-8%, while the real estate demand in Europe and the U.S. remains under pressure [9] - The first half of the year saw a fluctuating price trend for titanium dioxide, with a significant price drop in the second quarter due to reduced downstream demand and increased inventory pressure [10] Group 3: Company Performance - Longbai Group, the world's largest titanium dioxide producer with an annual capacity of 1.51 million tons, reported a revenue of 13.33 billion CNY in the first half of the year, a decrease of 3.34% year-on-year, and a net profit of 1.39 billion CNY, down 19.53% [10] - Anada reported total revenue of 876 million CNY in the same period, a decline of 10.51%, and a net loss of 26.27 million CNY, attributed to decreased profit margins in titanium dioxide and losses in iron phosphate [10]

Core Viewpoint - The A-share market continues to exhibit a structural trend, with the repositioning actions of billion-yuan private equity firms becoming a focal point for market attention [2] Group 1: Private Equity Adjustments - High Yi Asset remains a leader in the private equity sector, with a total holding market value of 9.37 billion yuan, but has made significant adjustments to its heavy-weight stocks, reducing its stake in Hikvision by approximately 1.37 billion yuan [3][4] - Dragon White Group and Angel Yeast have been notably increased in holdings, with Dragon White Group's market value rising to 1.43 billion yuan after an increase of 800 million yuan in shares [4][5] - Other private equity firms, such as Ying Shui Investment, have maintained a focus on the pharmaceutical sector, with minor adjustments to their holdings [5] Group 2: Sector Focus and Trends - The chemical and food and beverage sectors are viewed positively, with specific stocks like Dragon White Group and Angel Yeast receiving increased attention from private equity firms [2][4] - The trend indicates a shift from high valuation and speculative stocks to those with stable performance and reasonable valuations, aligning with the recovery of the domestic economy and easing inflation overseas [10] - Private equity firms are increasingly focusing on sectors supported by policies, such as high-end manufacturing and the new energy industry chain [10] Group 3: Market Characteristics - The characteristics of the heavy-weight stocks held by billion-yuan private equity firms include strong market competitiveness, stable performance, and reasonable valuations, suitable for long-term investment [9] - There is a notable interest in companies with growth potential and significant performance improvements, particularly those aligned with policy directions [10]

据证券时报报道， 经历价格持续低迷，临近"金九银十"，钛白粉企业再次集中宣布涨价。 近日市场传出涨价函显示，根据当前市场情况，龙佰集团决定自2025年8月18日起，对公司各型号钛白粉销售价格在原价基础上对国内各 类客户上调500元人民币/吨，对国际各类客户上调70美元/吨。 "消息一出，有多家厂商宣布跟涨，更有钛白粉企业发布暂停接单的通知。通知显示，根据钛白粉市场行情变动趋势，该公司研究决定，即 日起暂停钛白粉销售接单，在手订单能暂缓发货的尽量推迟发货，待市场明朗再进行签单。"有产业链企业人士表示。 卓创资讯钛白粉分析师孙珊珊告诉记者，此次诸多企业对钛白粉出厂价格进行调涨，是自上次3月宣涨后，历时5个月的行业首涨，也是下半 年的首次调涨。 隆众资讯钛白粉分析师路佳欣也确认，近日龙佰宣涨是行业普遍情况。继龙佰发函调价后，国内多数钛企陆续跟涨，截至目前已有超20家生 产企业正式发函宣涨。 ...

Core Viewpoint - Longbai Group's performance in the first half of 2025 was under pressure, with a decline in revenue and net profit, but the company is enhancing its industrial layout to build long-term competitiveness [1][2]. Financial Performance - In the first half of 2025, Longbai Group achieved operating revenue of 13.331 billion yuan, a year-on-year decrease of 3.34% [2]. - The net profit attributable to shareholders was 1.385 billion yuan, down 19.53% year-on-year, with a basic earnings per share of 0.58 yuan [2][3]. - The company's titanium dioxide business revenue was 8.684 billion yuan, a decline of 7.68% due to falling prices [3]. Product Performance - Titanium dioxide production reached 682,200 tons, an increase of 5.02%, while sales were 612,000 tons, up 2.08% [2]. - Sponge titanium production was 36,200 tons, up 9.30%, with sales of 38,700 tons, an increase of 25.51% [2]. - Revenue from iron-based products and zirconium products was 1.169 billion yuan and 515 million yuan, respectively, with year-on-year growth of 10.61% and 18.95% [3]. Profitability Analysis - The overall gross margin was 23.62%, down 3.91 percentage points year-on-year, with a net profit margin of 10.48%, a decrease of 1.94 percentage points [3]. - The gross margin for the titanium dioxide business was 27.11%, down 6.40 percentage points, while iron-based products saw a gross margin of 53.89%, up 11.79 percentage points [3]. Industry Context - The titanium dioxide industry is experiencing a downturn due to capacity expansion, demand slowdown, and anti-dumping measures, with prices at their lowest since 2020 [4]. - Longbai Group maintains good profitability amid industry challenges due to its upstream resource security and integrated industrial chain advantages [4]. Strategic Initiatives - The company is enhancing its upstream resource security and pursuing two key projects: the joint development of the Hongge North Mine and the Xujiagou Iron Mine, which will increase titanium concentrate capacity to 2.48 million tons per year and iron concentrate capacity to 7.6 million tons per year [4]. - Longbai Group is also expanding its global footprint and adjusting its business strategy in response to anti-dumping investigations affecting the titanium dioxide industry [4]. Investment Outlook - The expected earnings per share for 2025 and 2026 are projected to be 1.20 yuan and 1.47 yuan, respectively, with corresponding price-to-earnings ratios of 14.90 and 12.15 based on the closing price of 17.89 yuan on August 20 [5].

e公司 . 以下文章来源于e公司 ，作者证券时报 赵黎昀 近日市场传出涨价函显示，根据当前市场情况，龙佰集团决定自2025年8月18日起，对公司各型号钛白粉销售价格在原价基础上对国内各类客户上调500元人民币/ 吨，对国际各类客户上调70美元/吨。 e公司，证券时报旗下专注上市公司新媒体产品，立志打造A股上市公司资讯第一平台。提供7x24小时上市公司标准化快讯，针对可能影响上市公司股价的 主题概念、行业事件及时采访二次解读，从投资者需求出发，直播上市公司有价值的活动、会议。 经历价格持续低迷，临近"金九银十"，钛白粉企业再次集中宣布涨价。 卓创资讯钛白粉分析师孙珊珊告诉证券时报·e公司记者，此次诸多企业对钛白粉出厂价格进行调涨，是自上次3月宣涨后，历时5个月的行业首涨，也是下半年的首次 调涨。 隆众资讯钛白粉分析师路佳欣也确认，近日龙佰宣涨是行业普遍情况。继龙佰发函调价后，国内多数钛企陆续跟涨，截至目前已有超20家生产企业正式发函宣涨。 对于此番调涨背景，路佳欣分析，近两年钛白粉市场承压运行，价格呈现大涨大跌后震荡整理走势，在2022年三季度的断崖式下跌后，钛白粉价格处于窄幅波动期。 目前市场钛白粉产能进一步 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [4][8] Core Views - The company reported a revenue of 13.33 billion yuan for the first half of 2025, a year-on-year decline of 3.34%, and a net profit attributable to shareholders of 1.385 billion yuan, down 19.53% year-on-year [4][5] - The titanium dioxide industry continues to face downward pressure on profitability due to capacity expansion, demand slowdown, and anti-dumping measures, while the new energy business shows improved profitability [4][6] - The company maintains strong performance resilience due to its integrated supply chain and upstream resource guarantees, despite the industry's downturn [6][7] Summary by Sections Financial Performance - The company achieved a titanium dioxide production of 682,200 tons in the first half of 2025, up 5.02% year-on-year, with sales of 612,000 tons, an increase of 2.08% year-on-year [4] - Revenue from titanium dioxide was 8.684 billion yuan, down 7.68% year-on-year, while sponge titanium production reached 36,200 tons, up 9.30% year-on-year, with sales of 38,700 tons, a 25.51% increase [4][5] - The overall gross margin for the company was 23.62%, a decrease of 3.91 percentage points year-on-year, with a net profit margin of 10.48%, down 1.94 percentage points [5] Business Segments - Revenue from iron-based products and zirconium products was 1.169 billion yuan and 515 million yuan, respectively, with year-on-year growth of 10.61% and 18.95% [5] - New energy materials generated revenue of 527 million yuan, reflecting a year-on-year increase of 27.23% [5] Industry Outlook - The titanium dioxide industry is currently at a low point, with prices at their lowest since 2020, and the company is expected to enhance its resource security through upstream integration projects [6][7] - The company is actively expanding its global footprint and adjusting its operational strategies in response to anti-dumping investigations affecting the titanium dioxide sector [8] - Earnings per share (EPS) for 2025 and 2026 are projected to be 1.20 yuan and 1.47 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 14.90 and 12.15 [8]

截至8月21日收盘，钛白粉概念上涨1.89%，位居概念板块涨幅第6，板块内，9股上涨，中核钛白、道 恩股份等涨停，振华股份、金浦钛业、龙佰集团等涨幅居前，分别上涨3.52%、2.80%、1.90%。跌幅居 前的有国城矿业、惠云钛业、安宁股份等，分别下跌1.71%、0.99%、0.86%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 可燃冰 | 3.12 | 稀土永磁 | -2.14 | | 数字货币 | 2.38 | 兵装重组概念 | -2.11 | | 跨境支付(CIPS) | 2.19 | 光刻机 | -2.11 | | 草甘膦 | 2.03 | PCB概念 | -2.10 | | 电子身份证 | 1.93 | 液冷服务器 | -2.06 | | 钛白粉概念 | 1.89 | PEEK材料 | -2.03 | | 移动支付 | 1.73 | 共封装光学(CPO) | -2.03 | | 丙烯酸 | 1.71 | 减速器 | -1.96 | | 财税数字化 | 1.40 | 汽车热管理 | -1.82 ...

上证指数强势反弹逼近3800点，化工板块强势上涨。消息面上，本周（2025.8.8-2025.8.14）钛精矿市场正面临日益严峻的供需失衡局面，行业整体陷入低迷 状态。下游采购意愿薄弱，库存积压问题突出。生产企业连续下调报价，买方交易稀少。预计攀矿价格TiO2≥46%,10矿主流价格1600-1700元/吨。进口矿方 面存在下滑趋势。TiO246%攀钢钛矿最新价格为1665元/吨。 本周（2025.8.8-2025.8.14）海绵钛行业库存呈上升趋势，下游采购积极性不足。下游民品采购积极性不佳，工厂库存仍在不断累积，实际成交价格松动；军 工方向需求旺盛。综合来看海绵钛行业库存仍处在不断累积的过程中，短期看价格弱势震荡运行。预计一级海绵钛市场价格在4.8-4.9万元/吨之间。海绵钛 最新价格45500元/吨（环比持平）。 本周（2025.8.8-2025.8.14）旺季涨价传闻四起，钛白粉出货节奏加快。截止本周四，硫酸法金红石型钛白粉市场主流报价为12200-13700元/吨，结合市场行 情经加权计算均价为13302元/吨，环比上周价格暂稳。综合来看，钛白粉"地板价"维持了较长时间，预计需求有望得到提升，价格有 ...

财报季，社保基金持股动向曝光！二季度末社保基金共现身130只个股前十大流通股东榜，新进28只， 增持34只。 | 000729 | 燕京啤 | 1 | 3802.53 | 不变 | 1.52 | 食品饮 | | --- | --- | --- | --- | --- | --- | --- | | | 酒 | | | | | 料 | | 002271 | 东方雨 | 2 | 3793.41 | -6.57 | 1.98 | 建筑材 | | | 虹 | | | | | 料 | | 000902 | 新洋丰 | 1 | 3768.64 | 不变 | 3.30 | 基础化 | | | | | | | | 工 | | 300136 | 信维通 信 | 1 | 3700.00 | 不变 | 4.49 | 电子 | | 002601 | 龙佰集 | 1 | 3470.45 | 不变 | 1.75 | 基础化 | | | 团 | | | | | 工 | | 600873 | 梅花生 | 1 | 3317.92 | 不变 | 1.16 | 基础化 | | | 物 | | | | | 工 | | 002299 | 圣农发 | ...