Core Viewpoint - Longbai Group (002601.SZ) is divesting its 98.50% stake in a financing leasing company to focus on its core business and optimize resource allocation [1] Group 1: Transaction Details - Longbai Group will transfer 65.17% of its stake, corresponding to a subscribed capital of 195.5 million yuan and a paid-in capital of 170 million yuan, for a price of 194,976,123.36 yuan [1] - The Hong Kong subsidiary will transfer 33.33% of its stake, with a subscribed capital of 100 million yuan, fully paid, for a price of 114,691,837.27 yuan [1] - Shenzhen Furun Holdings Co., Ltd. will transfer its 1.50% stake, with a subscribed capital of 4.5 million yuan, fully paid, for a price of 5,161,132.68 yuan [1] Group 2: Post-Transaction Implications - After the transaction, the Jiaozuo State-owned Capital Operation Group will hold 100% of the financing leasing company, and Longbai Group and its Hong Kong subsidiary will no longer hold any equity in the financing leasing company [1] - The financing leasing company will be excluded from Longbai Group's consolidated financial statements following the completion of the transaction [1]

Core Viewpoint - Longbai Group's subsidiary, Baili Lian New Materials, is enhancing its capital strength and optimizing its financial structure by introducing strategic investors and implementing a capital increase to seize opportunities in the chloride titanium dioxide market [1][2]. Group 1: Company Overview - Baili Lian New Materials is recognized as a national high-tech enterprise with an annual production capacity of 400,000 tons of chloride titanium dioxide, making it the largest single-site production base in China [1]. - The company leads the industry in multiple dimensions, including scale, cost, technology, and market presence [1]. Group 2: Capital Increase Details - As of June 30, 2025, the audited equity of Baili Lian New Materials is approximately 412.75 million yuan [2]. - The pre-investment valuation of Baili Lian New Materials is approximately 437.04 million yuan, with strategic investors set to inject a total of 200 million yuan, acquiring a 31.40% stake post-investment [2]. - The capital increase will raise the registered capital from 170 million yuan to approximately 247.80 million yuan, while Longbai Group will retain a 68.60% ownership stake [2]. Group 3: Strategic Investors - The strategic investors include several financial asset management companies such as China Everbright Financial Asset Investment Co., CITIC Financial Asset Management Co., and others [3].

证券代码：002601 证券简称：龙佰集团 公告编号：2025-086 龙佰集团股份有限公司 关于子公司引入战略投资者暨实施增资扩股的公告 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 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》，现将相关事项公告如下： 一、本次交易概述 公司全资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"）作 为国家级高新技术企业，现有氯化法钛白粉产能 40 万吨/年，是国内单体最大的 氯化法钛白粉生产基地。佰利联新材料在规模、成本、技术及市场等多个维度行 业领先。为进一步增强佰利联新材料资本实力，优化财务结构，把握氯化法钛白 粉发展机遇，持续巩固与提升公司在氯化法钛白粉产业领先的综合竞争力，佰利 联新材料拟引入战略投资者并实施增资扩股。 截至 2025 年 6 月 30 日，佰利联新材料经审计所有者权益为 412,746.15 万元。 经以第三方评估机构出具的评估报告为基础，综合考虑佰利联新材料市场竞 ...

证券代码：002601 证券简称：龙佰集团 公告编号：2025-087 龙佰集团股份有限公司 关于受让河南振兴钒钛低碳发展私募股权投资基金中心（有 限合伙）份额的公告 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 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《关于受让河南振兴钒钛低碳发展私募 股权投资基金中心（有限合伙）份额的议案》，现将相关事项公告如下： 一、对外投资概述 因公司经营发展需要，为进一步落实公司发展战略，优化公司组织管理体系， 提高经营效率，公司全资子公司龙佰四川矿冶有限公司（以下简称"龙佰矿冶"） 拟以不超过 6,300.00 万元价格受让四川产业振兴基金投资集团有限公司（以下简 称"振兴基金"）持有的河南振兴钒钛低碳发展私募股权投资基金中心（有限合伙） （以下简称"钒钛低碳发展股权投资基金""基金"或"合伙企业"）对应认缴出资额 30,000.00 万元（实缴出资额 5,000.00 万元）的合伙份额（以下简称"标的份额" 或"合伙份额"）。本次受让完成后，龙佰矿 ...

证券代码：002601 证券简称：龙佰集团 公告编号：2025-085 龙佰集团股份有限公司 关于出售融资租赁公司股权的公告 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 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》， 现将相关事项公告如下： 一、本次出售子公司股权的概况 公司于 2022 年 12 月 29 日召开的第七届董事会第四十六次会议审议通过了 《关于出售融资租赁公司股权的议案》，同意公司及下属子公司佰利联（香港） 有限公司（以下简称"香港公司"）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"）的 98.50%股权全部转让给焦作鼎捷机电安装有 限公司。截止目前上述股权过户尚未完成，经与焦作鼎捷机电安装有限公司友好 协商拟终止前述股权转让。 为进一步聚焦公司核心主业发展，优化资源配置，公司及全资子公司香港公 司拟将持有的融资租赁公司 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 ...

证券代码：002601 证券简称：龙佰集团 公告编号：2025-084 龙佰集团股份有限公司 第八届董事会第二十六次会议决议公告 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。 本议案获得通过，同意 9 票，反对 0 票，弃权 0 票，回避 0 票。 2、审议通过《关于子公司引入战略投资者暨实施增资扩股的议案》。 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）《关于子公司引入战略投资 者暨实施增资扩股的公告》。 本议案获得通过，同意 9 票，反对 0 票，弃权 0 票，回避 0 票。 3、审议通过《关于受让河南振兴钒钛低碳发展私募股权投资基金中心（有 限合伙）份额的议案》。 一、董事会会议召开情况 龙佰集团股份有限公司（以下简称"公司"）第八届董事会第二十六次会议 于 2025 年 12 月 29 日（周一）以通讯表决和现场表决相结合的方式召开。本次 董事会的会议通知和议案已于 2025 年 12 月 24 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董事。本 ...

Group 1 - The company, Longbai Group Co., Ltd., has received approval for the issuance of bond financing tools, with a total repayment amount not exceeding RMB 6 billion [1] - The company has registered a medium-term note with a total amount of RMB 4 billion, valid for two years from the date of the acceptance notice [1] - The company successfully issued its first phase of technology innovation bonds on December 23, 2025, with the raised funds credited to the company by December 25, 2025 [2] Group 2 - The company is not classified as a dishonest entity [2]

证券代码：002601 证券简称：龙佰集团 公告编号：2025-083 2025 年 12 月 23 日，公司发行了 2025 年度第一期科技创新债券，本次募集 资金已于 2025 年 12 月 25 日到账。现将发行结果公告如下： | 债券名称 | 龙佰集团股份有限公司 2025 年度第一期科技创新债券 | 债券简称 | 25 龙佰集团 MTN001(科创债) | | --- | --- | --- | --- | | 债券代码 | 102585331 | 期限 | 3 年 | | 起息日 | 年 月 日 2025 12 25 | 兑付日 | 年 月 日 2028 12 25 | | 计划发行总额（万元） | 50,000.00 | 实际发行总额（万元） | 50,000.00 | | 发行利率（%） | 2.14 | 发行价（百元面值） | 100.00 | | 簿记管理人 | | 中信银行股份有限公司 | | | 主承销商 | | 中信银行股份有限公司 | | 联席主承销商 上海浦东发展银行股份有限公司、中原银行股份有限公司、华夏银行股份有限公司、招 商银行股份有限公司、兴业银行股份有限公司 龙佰集团股 ...

Core Viewpoint - The titanium dioxide market is experiencing a collective price increase as companies like Longbai, Tianyuan, and Huiyun Titanium Industry announce price hikes due to high production costs and ongoing market challenges [1][14]. Price Increases - On December 19, Tianyuan Group initiated a price increase of 700 CNY/ton for domestic chlorinated titanium dioxide and 100 USD/ton for international markets, effective immediately [1][15]. - On the same day, Guangdong Huiyun Titanium Industry followed suit, raising prices by 500 CNY/ton domestically and 70 USD/ton for exports [1][15]. - On December 22, Longbai Group and Shandong Jinhai Titanium Industry also raised prices by 500 CNY/ton domestically and 70 USD/ton internationally [3][18]. - Other companies, including Inner Mongolia Guocheng Titanium Industry and Guangxi Bluestar Dahua Chemical, implemented similar price increases of 500 CNY/ton domestically and 70 USD/ton internationally [7][21]. Cost Pressures - The titanium dioxide industry has faced significant cost pressures due to soaring prices of key raw materials, particularly sulfur and sulfuric acid [9][14]. - Solid sulfur prices in East China have surged to over 4000 CNY/ton, marking a 160% increase compared to the same period in 2024 and a 446% increase from the 2023 low of 735 CNY/ton [10][24]. - The price of 98% sulfuric acid has also exceeded 980 CNY/ton, driven by high sulfur prices and other compounding factors [12][26]. Market Conditions - Despite the recent price increases, the titanium dioxide market remains under pressure, with many companies reporting losses and facing challenges from anti-dumping measures abroad [14][28]. - The real estate sector has not shown significant recovery, leading to weak end-user demand, with downstream companies primarily engaging in essential purchases [14][28]. - The average market price for rutile titanium dioxide is currently between 12,300 and 13,700 CNY/ton, while anatase titanium dioxide is priced between 12,000 and 12,500 CNY/ton, reflecting a decline of over 30% from the 2021 peak of 20,400 CNY/ton [14][28].

Group 1 - The core viewpoint of the articles highlights the increasing trend of cash dividends among A-share companies, with 270 companies having announced cash dividends for Q3 2025, indicating a growing number and coverage of companies participating in cash dividends [1] - The A-share market has seen a gradual increase in the number of companies issuing cash dividends and the total amount, with a notable acceleration in this trend since 2024, reflecting a shift from a "heavy financing, light returns" model to a more balanced investment ecosystem [1] - Yin Tai Securities emphasizes that encouraging high-quality listed companies to increase dividend payouts is a key aspect of the new round of capital market reforms, which will promote long-term healthy development of the A-share market [1] Group 2 - Galaxy Securities points out that as 2026 approaches, the A-share market is entering a critical window for cross-year layout, with expectations for policy benefits to be released early in the year, creating structural opportunities in sectors aligned with policy guidance and industry prosperity [2] - The upcoming spring market rally is anticipated, with a focus on defensive sector allocation in the short term while preparing for next year's policy benefits and industry trends [2] - The Jianxin CSI 300 Dividend ETF (512530) closely tracks the CSI 300 Dividend Index, which selects 50 high-dividend stocks from the CSI 300 Index, reflecting the overall performance of high-dividend securities within the index [2]