华安证券给予龙佰集团“买入”评级，钛白粉景气有望回升，产业深度布局优势显著

Group 1 - Core viewpoint: Huazhong Securities has given Longbai Group (002601.SZ) a "buy" rating based on several factors [1] Group 2 - Factor 1: Titanium dioxide prices are expected to remain under pressure in 2025, with the industry initiating multiple joint price increases, potentially leading to a rebound in 2026 [1] - Factor 2: The acquisition of Venator UK’s titanium dioxide assets enhances the company's global layout [1] - Factor 3: Continuous investment in upstream mineral resource development strengthens the company's integrated industrial chain advantages [1] - Factor 4: Active share buybacks demonstrate confidence, while equity incentives enhance motivation [1]