On September 8, Lb Group Co.,Ltd. (002601.SZ) announced that on the evening of September 2, a safety accident occurred at the sulfuric acid production line of its wholly-owned subsidiary Longbai Xiangyang Titanium Industry Co., Ltd. (hereinafter referred to as "Longbai Xiangyang"), resulting in 2 immediate deaths and 3 additional deaths after unsuccessful medical treatment, while 1 person remains in stable condition after surgical treatment.
On September 5, 2025, Longbai Xiangyang received a "Field Treatment Measures Decision" from local emergency management authorities, ordering "temporary suspension of operations for rectification." To prevent secondary accidents and cooperate with the accident investigation, Longbai Xiangyang has conducted orderly production suspension in accordance with government requirements and is conducting comprehensive safety hazard inspections.
The announcement stated that Longbai Xiangyang is one of the company's main production bases for titanium dioxide, and has currently suspended operations in an orderly manner according to government requirements. Production and operations at the company's other subsidiaries remain normal.
The company expressed deep condolences to the victims of this accident and sincere apologies to their families. A special working group has been established to handle related aftermath work, and the company will supervise Longbai Xiangyang to complete rectification work as soon as possible according to relevant requirements. The aforementioned matters are expected not to have a significant impact on the company's sustained production and operation capabilities.
**Company's First-Half Performance Declines Year-on-Year**
According to Lb Group Co.,Ltd.'s official website, the company is headquartered in Jiaozuo, Henan, and is a large industrial group dedicated to new materials research and development, manufacturing, and industrial integration. The company's main products include titanium dioxide, sponge titanium, zirconium products, and lithium battery cathode and anode materials. Among these, titanium dioxide production capacity is 1.51 million tons per year, and sponge titanium production capacity is 80,000 tons per year, both ranking first globally.
On August 18, Lb Group Co.,Ltd.'s half-year report showed that in the first half of this year, the company achieved operating revenue of 13.331 billion yuan, down 3.34% year-on-year; net profit attributable to listed company shareholders was 1.385 billion yuan, down 19.53% year-on-year.
In the secondary market, as of the close on September 8, Lb Group Co.,Ltd. rose 3.26%, with a total market value of 46.1 billion yuan.
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