Core Viewpoint - The demand for active ink in China's market is increasing due to the growth in downstream applications, innovations in digital inkjet printing technology, and stricter environmental policies promoting sustainable alternatives to traditional dyes [1][7]. Industry Overview - The active ink industry in China has seen a rise in consumption from 1,400 tons in 2015 to an expected 8,100 tons by 2024, indicating a stable growth trend [1][7]. - Active ink is primarily used in digital inkjet printing, which includes dye-based and coating inks, with active dye ink being a significant component due to its superior performance [3][4]. Industry Chain - The upstream of the active ink industry includes raw materials such as active dyes, surfactants, and deionized water, while the midstream involves the manufacturing of active ink products, and the downstream focuses on applications in textiles and printing [4][5]. Competitive Landscape - The high-end market for active ink is dominated by companies from Europe, the United States, Japan, and South Korea, while China's industry is characterized by smaller firms with varying capabilities, although some strong domestic manufacturers are emerging [8]. Related Companies - Key players in the active ink market include Blue Universe Co., Ltd., Honghua Digital Technology Co., Ltd., and Zhejiang Longsheng Group, among others, which are involved in the research, production, and sales of digital printing inks [9][10]. Development Trends - The active ink industry is expected to expand beyond textile printing into flexible electronics and smart packaging, with a focus on multifunctionality and environmental sustainability [12][13].

一、合作投资基本概述情况 2025 年 11 月 28 日，公司与普通合伙人上海卿云私募基金管理有限公司（以 下简称"卿云私募"）、有限合伙人上海静安产业引导股权投资基金有限公司、上 海卿云一号创业投资合伙企业（有限合伙）、上海未来启点私募投资基金合伙企 业（有限合伙）、安徽金扁担股权投资有限公司及特殊有限合伙人上海复瓴智辉 企业管理合伙企业（有限合伙）签署《上海相辉一号创业投资合伙企业（有限合 伙）之合伙协议》，共同投资设立上海相辉一号创业投资合伙企业（有限合伙） （以下简称"相辉一号"），本次募集资金 7.427 亿元，公司作为有限合伙人以自 有资金认缴出资 2 亿元，首次出资 8,000 万元，占合伙企业认缴出资额的 26.93%。 根据公司《章程》等有关规定，本次交易未达到董事会及股东会审议标准，无需 提交董事会或股东会审议。具体内容详见公司 2025 年 11 月 29 日披露于上海证 券交易所官网（www.sse.com.cn）的《浙江龙盛与私募基金合作投资公告》（公 告编号：2025-048）。 第 1页 共 4 页 二、投资私募基金的进展情况 公司于近日收到基金管理人卿云私募的通知，相辉一号所 ...

Group 1 - Zhejiang Longsheng Group Co., Ltd. is located in Shaoxing, Zhejiang Province, and was established on March 23, 1998, with its listing date on August 1, 2003 [1] - The company's main business involves dyes, intermediates, water-reducing agents, as well as inorganic chemical products like soda ash and synthetic ammonia. The revenue composition is as follows: dyes 55.83%, intermediates 23.14%, additives 7.33%, inorganic products 5.08%, real estate 3.48%, other businesses 1.88%, automotive parts 1.23%, color standards and sustainable development solutions 1.22%, and others 0.81% [1] Group 2 - The fund "Shangyin Value Growth 3-Month Holding Period Mixed A" (013284) holds 42,100 shares of Zhejiang Longsheng, accounting for 2.61% of the fund's net value, ranking as the seventh largest holding [2] - The fund has a total scale of 1.9204 million, with a year-to-date return of 24.56%, ranking 3769 out of 8087 in its category, and a one-year return of 24.17%, ranking 3616 out of 8085 [2] Group 3 - The fund manager Zhao Zhiyue has a tenure of 10 years and 235 days, with a total asset scale of 1.768 billion. The best fund return during his tenure is 138.78%, while the worst is -42.27% [3] - The co-manager Chen Bo has a tenure of 5 years and 333 days, with a total asset scale of 791 million. The best fund return during his tenure is 88.39%, while the worst is -8.38% [3]

Core Viewpoint - Zhejiang Longsheng announced that as of the date of the announcement, the company has not provided guarantees for its controlling shareholders, actual controllers, or their related parties, and there are no overdue guarantees for the company and its subsidiaries [2] Group 1 - The company confirmed the absence of guarantees provided to controlling shareholders and related parties [2] - There are no overdue guarantees reported for the company and its subsidiaries [2]

证券代码：600352 证券简称：浙江龙盛 公告编号：2025-052 浙江龙盛集团股份有限公司 关于为控股子公司提供担保及担保额度调剂的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 | | | | | 实际为其提供的 | 是否在前 | 本次担保 | | --- | --- | --- | --- | --- | --- | --- | | 被担保人名称 | | 本次担保金额 | | 担保余额（不含 | 期预计额 | 是否有反 | | | | | | 本次担保金额） | 度内 | 担保 | | DyStar Pte Ltd | Singapore | 2,000 | 万美元 | | | | | （德司达新加坡有限公司，以 | | （折人民币约 | | 77,611.30 万元 | 是 | 否 | | 下简称"德司达新加坡"） | | 14,071.60 万元） | | | | | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告 ...

Core Viewpoint - The company Zhejiang Longsheng Group Co., Ltd. has announced a guarantee for its subsidiary, Desida Singapore, to facilitate financing with Hangzhou Bank, indicating a strategic move to support its subsidiary's operations and manage financial risks effectively [1][10]. Group 1: Guarantee Details - The company has signed a pledge contract with Hangzhou Bank to provide joint liability guarantees for Desida Singapore's financing needs, with no counter-guarantee involved [1][2]. - The total guarantee amount for the subsidiary is included within the overall guarantee limit approved for the year 2025, thus not requiring separate board or shareholder meetings for approval [2][5]. - As of December 25, 2025, the company has a total guarantee balance of RMB 917,668.79 million, which represents 26.77% of the company's net assets as of the end of 2024 [14]. Group 2: Internal Decision-Making Process - The board of directors approved the guarantee limits for subsidiaries during meetings held on April 11, 2025, and May 30, 2025, with unanimous support [1][13]. - The company has the authority to adjust guarantee limits among subsidiaries with an asset-liability ratio below 70%, optimizing the use of available guarantees [5]. Group 3: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary and reasonable as the company maintains control over the subsidiary and assesses its ability to repay debts, ensuring that the guarantee aligns with the subsidiary's liquidity needs [10].

重要内容提示： 担保对象及基本情况 | | | | | 实际为其提供的 | 是否在前 | 本次担保 | | --- | --- | --- | --- | --- | --- | --- | | 被担保人名称 | | 本次担保金额 | | 担保余额（不含 | 期预计额 | 是否有反 | | | | | | 本次担保金额） | 度内 | 担保 | | DyStar Pte Ltd | Singapore | 3,500 | 万美元 | | | | | （德司达新加坡有限公司，以 | | （折人民币约 | | 53,028.60 | 是 | 否 | | 下简称"德司达新加坡"） | | 24,637.20 万元） | | | | | 累计担保情况 证券代码：600352 证券简称：浙江龙盛 公告编号：2025-051 浙江龙盛集团股份有限公司 关于为控股子公司提供担保及担保额度调剂的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市 ...

Group 1 - The core stock price of Zhejiang Longsheng (600352) closed at 10.77 yuan on December 24, 2025, with a market capitalization of 35.038 billion yuan, reflecting a 0.47% increase from the previous trading day [1] - The stock opened at 10.75 yuan, reached a high of 10.78 yuan, and a low of 10.66 yuan, with a trading volume of 1.66 billion yuan and a turnover rate of 0.48% [1] - The company announced that it provided guarantees for its wholly-owned subsidiary, Huasheng Co., Ltd., and its controlling subsidiary, Desida Singapore Co., Ltd., amounting to 400 million yuan and 5 million USD plus 220 million yuan, totaling approximately 572.615 million yuan [1] Group 2 - The guarantees have been approved through internal decision-making processes and fall within the guarantee limits for subsidiaries for the year 2025, thus requiring no further review [1] - The guarantee method is a joint liability guarantee without counter-guarantee [1] - As of December 23, 2025, the total amount of external guarantees provided by the company was 8.352 billion yuan, accounting for 24.36% of the latest audited net assets, with no overdue guarantees [1]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 证券代码：600352 证券简称：浙江龙盛 公告编号：2025-050 浙江龙盛集团股份有限公司 关于为控股子公司提供担保的公告 | 被担保人名称 | 本次担保金额 | 实际为其提供的 | 是否在前期 | 本次担保 | | --- | --- | --- | --- | --- | | | | 担保余额（不含 本次担保金额） | 预计额度内 | 是否有反 担保 | | 桦盛有限公司（以下简 称"桦盛"） | 40,000 万元人民币 | 0 | 是 | 否 | | DyStar Singapore Pte Ltd（德司达新加坡有 | 5,000万美元+22,000万 | 0 | 是 | 否 | | 限公司，以下简称"德 司达新加坡"） | 元人民币（折人民币合 计约 57,261.50 万元） | | | | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 | 835, ...

Group 1 - The core point of the article is that Zhejiang Longsheng has announced its external guarantees, which total approximately RMB 8.352 billion, accounting for 24.36% of the company's audited net assets attributable to the parent company as of the end of 2024 [1] - As of June 2025, the revenue composition of Zhejiang Longsheng is as follows: specialty chemicals account for 86.3%, basic chemicals account for 5.08%, real estate business accounts for 3.48%, other industries account for 1.88%, and automotive parts account for 1.23% [1] - The current market capitalization of Zhejiang Longsheng is RMB 35 billion [1]