研报掘金丨中银证券：维持浙江龙盛“买入”评级，行业规模和成本优势明显，保持高分红水平

Group 1 - The core viewpoint of the article highlights that Zhejiang Longsheng's net profit attributable to shareholders for the first half of the year is 928 million yuan, reflecting a year-on-year increase of 2.84% [1] - The company announced an interim dividend plan, proposing a cash dividend of 2.00 yuan per 10 shares (tax included), resulting in a dividend payout ratio of 70.12% for the first half of 2025 [1] - The dye industry is expected to recover, and the company maintains a strong market position with significant cost advantages, supporting a high dividend level and a "buy" rating [1] Group 2 - In the dye and additive sectors, the company holds the leading market share in the industry [1] - The company has approved a proposal to acquire the remaining 37.57% shares of Desida Global Holdings (Singapore) Limited, with the project already submitted for record registration to the National Development and Reform Commission and the Ministry of Commerce as of the mid-2025 report [1] - The company is extending its business into other fine chemical products based on an integrated industrial chain, enhancing cost advantages and environmental competitiveness [1] Group 3 - The real estate business is progressing steadily, and high-quality assets are expected to support the company's cash flow [1]