Core Viewpoint - The recent price increase of titanium dioxide (TiO2) has drawn market attention, with domestic prices rising by 700 CNY/ton and international prices by 100 USD/ton, driven by rising raw material costs and supply constraints [1][2]. Industry Summary - The titanium dioxide industry has experienced multiple price hikes within a year, primarily due to escalating costs of key raw materials such as titanium ore and sulfuric acid [1]. - As of mid-November, the average domestic price of sulfuric acid reached 773 CNY/ton, a more than 111% increase since the beginning of the year, with some regions seeing prices exceed 900 CNY/ton [1]. - Domestic companies are limiting production, tightening market supply, and leading to increased market confidence and price hikes [1]. Company Performance - In the first three quarters of the year, titanium dioxide listed companies faced collective pressure, with some reporting negative net profits attributable to shareholders [2]. - The price increase may help improve industry performance in the long term, but it could also squeeze the profitability of downstream companies [2]. - Companies are encouraged to enhance technological research, improve production efficiency, and optimize product structures to produce higher value-added products [2]. Future Outlook - The future trajectory of titanium dioxide prices remains uncertain, as downstream demand is currently weak, particularly in the coatings and plastics sectors [4]. - While some international demand for titanium dioxide has increased, overall demand remains lackluster, making the sustainability of price increases dependent on actual growth in downstream demand [4].

截至4月29日22时，A股共5312家上市公司披露2025年一季报，2918家上市公司实现归属于上市 公司股东的净利润同比增长。 超3600家公司拟现金分红 从每股股利看，在上述已发布分红计划的3645家上市公司中，每股股利有望超过0.5元（含税） 的有500多家，超过1元（含税）的有约160家。贵州茅台、古井贡酒、泸州老窖、宁德时代、 比亚迪、爱美客、吉比特、同花顺、慧翰股份、东鹏饮料、中国移动、中国神华、华特达因、 华利集团等上市公司每股股利达到或超过2元（含税）。 不少行业头部上市公司抛出大额分红计划。中国证券报记者梳理发现，在每股股利居前的5家 公司中，3家是白酒企业。其中，贵州茅台、古井贡酒、泸州老窖2024年度拟向全体股东每10 股派发现金红利分别为276.24元（含税）、50元（含税）、45.92元（含税）。 工信部信息通信经济专家委员会委员盘和林对中国证券报记者表示，分红能够提振投资者信 心，稳定投资者预期，体现上市公司的现金实力和盈利能力。中国企业资本联盟副理事长柏文 喜表示，分红能够让股东和投资者获得现金回报，为投资者增加现金流和投资回报，增强公司 市场价值与吸引力。 Wind数据显示，截 ...