根据《公司章程》和《深圳证券交易所股票上市规则》等相关规定，上述对 外投资事项无需提交股东大会审议。 本次投资不构成关联交易，亦不构成《上市公司重大资产重组管理办法》规 定的重大资产重组。 二、投资标的基本情况 证券代码：002601 证券简称：龙佰集团 公告编号：2025-048 龙佰集团股份有限公司 关于投资设立马来西亚子公司、英国子公司的公告 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。 龙佰集团股份有限公司（以下简称"公司"）于2025年10月15日召开的第八届 董事会第二十二次会议，审议通过了《关于投资设立马来西亚子公司、英国子公 司的议案》。具体内容公告如下： 一、对外投资概述 根据公司经营及战略发展的需要，推动公司海外业务发展，更好地服务公司 海外客户，提升公司国际竞争力，提高公司全球市场占有率，公司全资子公司佰 利联（香港）有限公司（以下简称"佰利联香港"）拟以自有资金出资 500 万美 元在马来西亚设立 LB ADVANCED MATERIAL ASIA SDN. BHD.（中文名称： "龙佰亚洲新材料有限公司"，以下简称"马来西亚子公司" ...

证券代码：002601 证券简称：龙佰集团 公告编号：2025-049 龙佰集团股份有限公司 关于收购 Venator UK 钛白粉业务相关资产的公告 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。 特别提示： 1、龙佰集团股份有限公司（以下简称"公司"）下属子公司BILLIONS EUROPE LTD（以下简称"佰利联欧洲"或"买方"）于北京时间2025年10月15 日与VENATOR MATERIALS UK LIMITED（以下简称"Venator UK"或"卖方"） 签署《ASSET PURCHASE AGREEMENT》（以下简称"《资产购买协议》"）， 佰利联欧洲拟以支付现金的方式收购Venator UK持有的与钛白粉业务相关的资 产，包括土地房屋、机器设备、备品备件、业务账簿、知识产权、存货等（以下 简称"标的资产"）。 2、本次交易不构成关联交易，亦不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 鉴于经营及战略发展需求，公司下属子公司佰利联欧洲计划以支付现金的方 1 式，收购Venator UK持有的与钛白粉业务相关的资产，包括土 ...

证券代码：002601 证券简称：龙佰集团 公告编号：2025-047 二、监事会会议审议情况 龙佰集团股份有限公司 第八届监事会第二十二次会议决议公告 本公司及监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、监事会会议召开情况 龙佰集团股份有限公司（以下简称"公司"）第八届监事会第二十二次会议 于 2025 年 10 月 15 日（周三）以通讯表决和现场表决相结合的方式召开。本次 监事会的会议通知和议案已于 2025 年 10 月 7 日按《公司章程》规定以书面送达 或电子邮件的方式发送至全体监事。会议应参加表决监事 3 人，实际参加表决监 事 3 人。会议由监事会主席张海涛先生主持，会议的召开符合有关法律、行政法 规、部门规章、规范性文件和公司章程的规定，会议表决合法有效。 本次监事会会议审议通过了如下议案： 1、审议通过《关于投资设立马来西亚子公司、英国子公司的议案》。 关于本议案具体内容详见公司指定信息披露媒体《中国证券报》《证券时报》 《上海证券报》及巨潮资讯网（www.cninfo.com.cn）《关于投资设立马来西亚子 公司、英国子公司的公告》。 本 ...

Investment Rating - The industry investment rating is Neutral (maintained) [7] Core Viewpoints - China is the world's largest producer of titanium dioxide (TiO2), with a projected capacity share of 56% in 2024, benefiting from the shutdown of several overseas facilities [1][13] - The domestic supply structure of titanium dioxide is characterized by "one strong leader, multiple strong players, and a long tail," with policies emphasizing energy consumption and production processes [2][22] - Domestic demand for titanium dioxide is strongly correlated with the real estate sector, while external demand still presents certain opportunities despite anti-dumping investigations from several countries [3][26] - The price spread in the titanium dioxide industry is currently at a historical low, with significant inventory accumulation due to pressures from both domestic and export demand [4][30] - Approximately 20% of the titanium dioxide production capacity in China is considered outdated, with a notable portion over 20 years old [5][32] Summary by Sections 1. Supply Structure and Market Dynamics - China has significantly increased its titanium dioxide production capacity from 45,000 tons in 2000 to 5.5 million tons in 2024, representing a 56% global share [1][20] - The major players in the titanium dioxide market include Longbai Group, Chemours, Tronox, and Venator, with Longbai Group leading with a capacity of 1.51 million tons [18][20] 2. Policy and Technological Requirements - Recent policies have set stringent requirements for energy consumption and production processes, favoring companies with low-cost and mature chlorination technology [2][22] - The 2023 energy efficiency benchmark and the 2024 industrial structure adjustment guide have implications for the sustainability of production methods [22][23] 3. Demand Correlation and Export Opportunities - The domestic consumption of titanium dioxide is projected at 2.89 million tons in 2024, with a strong correlation to housing starts and completions [24][26] - Despite anti-dumping measures, there are still opportunities for exports, particularly to countries with growing GDPs like India [26][28] 4. Industry Pricing and Inventory Levels - The average operating rate for titanium dioxide in China was 70% in the first eight months of 2025, leading to a significant price decline, with the price spread reaching its lowest since 2006 [4][30] 5. Outdated Production Capacity - The proportion of outdated production capacity in the titanium dioxide industry is approximately 19%, with ongoing assessments to phase out non-compliant facilities [5][32] 6. Focus on Leading Enterprises - Longbai Group is highlighted as a key player due to its comprehensive titanium industry layout, including titanium dioxide, sponge titanium, and zirconium products, with a strong vertical integration strategy [6][35][36]

Investment Rating - Industry Rating: Overweight [1] Core Views - The chemical sector showed a weekly performance ranking of 8th with a gain of 1.99%, outperforming the Shanghai Composite Index by 1.63 percentage points and the ChiNext Index by 5.85 percentage points [4][22]. - The chemical industry is expected to continue its differentiated trend in 2025, with recommendations to focus on synthetic biology, pesticides, chromatography media, sweeteners, vitamins, light hydrocarbon chemicals, COC polymers, and MDI [4]. Summary by Sections Industry Performance - The chemical sector's overall performance for the week of October 9-10, 2025, was a gain of 1.99%, ranking 8th among sectors [22]. - The top three performing sub-sectors were phosphate and phosphorus chemicals (6.26%), titanium dioxide (4.23%), and oil and petrochemical trade (4.23%) [23]. Key Industry Dynamics - Synthetic biology is at a pivotal moment, with low-energy products expected to gain a longer growth window due to the adjustment of energy structures [4]. - The upcoming quota policy for third-generation refrigerants is anticipated to enter a high prosperity cycle, with demand expected to grow steadily due to market expansion in Southeast Asia [5]. - The electronic specialty gases market is characterized by high technical barriers and high added value, with significant opportunities for domestic substitution [6][8]. - The trend of light hydrocarbon chemicals is becoming global, with a shift towards lighter raw materials for olefin production [8]. - The COC polymer industry is accelerating its domestic industrialization process, driven by supply chain security concerns and the shift of downstream industries to domestic production [9]. - Potash fertilizer prices are expected to rebound as major producers reduce output and the demand for fertilizers increases due to rising grain prices [10]. - The MDI market is characterized by oligopoly, with a favorable supply structure expected as demand gradually recovers [12].

Group 1 - The core viewpoint of the news is that Longbai Group's stock performance and financing activities indicate a low level of financing balance compared to its market value, while its short-selling activities are at a high level [1] - As of October 15, Longbai Group's financing balance is 582 million yuan, accounting for 1.24% of its market capitalization, which is below the 10th percentile level over the past year [1] - On the same day, Longbai Group had a net financing purchase of 1.80 million yuan, with a total financing buy amount of 34.65 million yuan and a repayment of 32.84 million yuan [1] Group 2 - As of September 19, the number of shareholders of Longbai Group decreased by 8.31% to 87,900, while the average circulating shares per person increased by 9.06% to 22,610 shares [2] - For the first half of 2025, Longbai Group reported a revenue of 13.34 billion yuan, a year-on-year decrease of 3.35%, and a net profit attributable to shareholders of 1.39 billion yuan, down 19.53% year-on-year [2] Group 3 - Longbai Group has distributed a total of 19.39 billion yuan in dividends since its A-share listing, with 5.96 billion yuan distributed in the last three years [3] - As of June 30, 2025, Hong Kong Central Clearing Limited is the eighth largest circulating shareholder of Longbai Group, holding 41.03 million shares, a decrease of 4.03 million shares compared to the previous period [3]

Core Viewpoint - The company, Longbai Group Co., Ltd., is involved in a legal dispute concerning the infringement of trade secrets related to its titanium dioxide production technology, with a total claim amounting to RMB 131,050 million [2][3]. Group 1: Basic Information of the Lawsuit - The lawsuit has been officially accepted by the Yunnan Provincial High People's Court, with the case number (2025) Yun Min Chu 2 [3]. - The plaintiff, Yunnan Metallurgical Xinli Titanium Industry Co., Ltd., is one of the joint plaintiffs in the case [3]. - The defendants include individuals who previously held significant positions within the plaintiff company and are accused of using the plaintiff's trade secrets for their current employer [4][5]. Group 2: Allegations and Claims - The plaintiff alleges that the defendants have infringed upon trade secrets related to a large-scale chlorination titanium dioxide production line, which was developed with strict confidentiality measures [4]. - The lawsuit requests the defendants to cease the use of the plaintiff's trade secrets, destroy any materials containing these secrets, and publish an apology in specified national media [8]. Group 3: Financial Implications - The total amount claimed for economic damages is RMB 130,050 million, with an additional RMB 10 million for reasonable legal expenses [8]. - The company is currently unable to assess the impact of this lawsuit on its current or future profits, as the case has not yet gone to trial [11]. Group 4: Related Legal Matters - The company has previously disclosed information regarding similar legal matters concerning the infringement of its trade secrets [9]. - A related criminal case against some defendants for the crime of infringing commercial secrets has been heard but not yet adjudicated [6][9].

Core Viewpoint - Longbai Group has filed a lawsuit against former executives and Hebei Yanshan Steel Group for infringement of trade secrets related to chloride titanium dioxide technology, seeking compensation of 1.311 billion yuan [1][2] Group 1: Legal Action and Allegations - Longbai Group's subsidiary, Yunnan New Li Titanium Industry, has initiated legal proceedings against former executives and Hebei Yanshan Steel for allegedly infringing on proprietary chloride titanium dioxide production technology [1][2] - The lawsuit claims that the defendants utilized confidential technology to assist Hebei Yanshan in planning and constructing its chloride titanium dioxide production line [2] - The case has been in judicial proceedings for over three years, with a criminal case against the former executives currently under trial [2] Group 2: Technology and Market Position - The chloride titanium dioxide production process is considered a "bottleneck" technology in the industry, characterized by high technical barriers and previously dominated by foreign companies [1][3] - Longbai Group is the largest producer of titanium dioxide in the world, with an annual chloride production capacity of 660,000 tons, ranking first in China and third globally [3] - The company has invested over 10 billion yuan in technology development, achieving over 280 patents in chloride titanium dioxide production technology [3] Group 3: Competitor Activities - Hebei Yanshan Steel is actively pursuing a large-scale chloride titanium dioxide production project, investing 12 billion yuan in various initiatives [3] - The company claims to utilize world-class chloride titanium dioxide technology and aims to establish a production base with a capacity of one million tons [3] - There is an ongoing legal dispute between Hebei Yanshan and Yunnan New Li, with the former having previously filed a lawsuit against the latter regarding intellectual property rights [3]

Core Viewpoint - Longbai Group's subsidiary, Yunnan Metallurgical New Li Titanium Industry Co., Ltd., has initiated a lawsuit for the infringement of trade secrets, with the Yunnan Provincial High People's Court accepting the case involving a total amount of 1.311 billion yuan [1] Group 1 - Longbai Group announced that its subsidiary Yunnan New Li has filed a lawsuit as a co-plaintiff in a trade secret infringement case [1] - The Yunnan Provincial High People's Court has officially accepted the case for further proceedings [1] - The total amount involved in the case is 1.311 billion yuan [1]

Group 1: Monetary Policy and Economic Indicators - The People's Bank of China will conduct a 600 billion yuan reverse repurchase operation on October 15, using a fixed quantity, interest rate bidding, and multiple price levels, with a term of 6 months [1] - The National Bureau of Statistics released the CPI and PPI data for September, indicating ongoing economic trends [1] Group 2: Automotive Industry Performance - In the first nine months of the year, China's automotive industry saw significant growth, with production and sales reaching 24.33 million and 24.36 million units, respectively, marking year-on-year increases of 13.3% and 12.9% [2] - September production and sales exceeded 3 million units for the first time in history, with year-on-year growth rates of 17.1% and 14.9% [2] Group 3: Company Earnings Reports - Xianda Co. expects a net profit of 180 million to 205 million yuan for the first three quarters, a year-on-year increase of 2807.87% to 3211.74% [4] - Shenghe Resources anticipates a net profit of 740 million to 820 million yuan, reflecting a year-on-year growth of 696.82% to 782.96% [4] - JianTou Energy projects a net profit of approximately 1.583 billion yuan, a year-on-year increase of about 231.75% [5] Group 4: Corporate Actions and Developments - Huangting International announced the termination of its major asset sale and debt restructuring plans due to failure to reach consensus on core terms [4][6] - Longbai Group is involved in a lawsuit over technology infringement, with claims amounting to 1.3105 billion yuan [7] - Fenghuang Shipping plans to purchase dry bulk carriers for up to 60 million USD, which constitutes 64.59% of the company's latest audited total assets [7] Group 5: Strategic Initiatives - The Shanghai Municipal Government has launched an action plan for the high-quality development of the smart terminal industry, aiming for a total scale exceeding 300 billion yuan by 2027 [3] - The Hong Kong Stock Exchange plans to launch the Hang Seng Biotechnology Index futures to enhance its derivatives ecosystem [2] Group 6: Mergers and Acquisitions - Shengtun Mining intends to acquire all issued shares of Canadian company Loncor for approximately 261 million CAD (about 190 million USD), focusing on the Adumbi gold mine project in the Democratic Republic of the Congo [8] - Bohai Automotive plans to acquire stakes in several companies, pending shareholder and regulatory approvals [9]