从业务板块看，三大核心产品呈现分化态势，天然香料与合成香料成为增长双引擎。报告期内，天然香 料业务持续夯实龙头地位，上半年销量超600吨，实现营业收入2.53亿元，同比增长65.2%。作为全球中 高端天然香料核心供应商，公司主打产品天然香兰素既受益于海外市场需求回暖与价格阶段性上涨，又 叠加泰国生产基地一期项目满产带来的规模效应，成为营收增长的"稳定器"。合成香料业务则迎来爆发 式增长，销量突破400吨，实现营业收入1.27亿元，同比增幅高达184.06%，核心驱动力来自合成生物技 术的落地与新品量产——公司通过工艺优化推出多款合成香料产品，完成核心客户验证并进入批量化供 应阶段，产品梯队优势初步形成。相较之下，凉味剂业务表现承压，实现营业收入1.24亿元，同比下降 21.21%。 亚香股份正积极拓展第四大产品体系，生物合成技术研发成果已落地转化。报告期内，公司联合高校推 进香料合成生物学项目，成功实现肉桂酸甲酯、番茄红素等新品的量产验证，并完成龙涎醚系列产品 （中高端香水关键添加剂）的小批量供货。目前，天然龙涎醚与合成龙涎醚已交付下游核心客户，为公 司切入高端香水细分市场、培育新增长曲线奠定坚实基础。 本报 ...

Core Viewpoint - The European Union has made a final ruling on anti-dumping measures against vanillin originating from China, imposing a final anti-dumping tax of 131.1% on specific vanillin products [1] Group 1: Anti-Dumping Ruling - The European Commission announced on June 12 that it will impose a final anti-dumping tax of 131.1% on vanillin with a molecular formula of C8H8O3 or C9H10O3 and a purity by weight greater than 95% [1] - The products affected by this ruling include synthetic vanillin, natural vanillin, bio-based synthetic vanillin (bio vanillin), and ethyl vanillin [1] - Mixtures of different aromatic chemicals with a purity by weight less than 95% are not subject to the aforementioned anti-dumping tax [1] Group 2: Investigation Timeline - The European Commission initiated an anti-dumping investigation into vanillin originating from China on May 24, 2024 [1]