Dongyue Group (00189) saw its shares rise more than 8% during afternoon trading. At the time of writing, the stock was up 7.91%, trading at HK$12.28 with a turnover of HK$228 million. The company recently released its annual results, reporting total operating revenue of RMB 14.355 billion for 2025, a year-on-year increase of 1.23%. Net profit attributable to shareholders reached RMB 1.642 billion, surging 102.49% compared to the previous year. Its refrigerant business generated a profit of RMB 2.288 billion, marking an impressive growth of 183.71%. Refrigerant prices have continued to climb into 2026. Notably, the prices of raw materials such as dichloromethane and trichloromethane have risen significantly. Analysts point out that under the quota system, refrigerant producers are able to smoothly pass on cost increases without concerns over pricing pressure. Even if raw material prices decline after external tensions ease, refrigerant prices are unlikely to follow downward, leading to a more pronounced expansion in profit margins.
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