Movement Alert|Dongyue Group Intraday Decline 6.22%, Refrigerant Price Stagnation at Highs Triggers Profit-Taking

Market Focus06-24

On June 24, Dongyue Group fell 6.22% in regular trading, trading at 20.96 HKD/share, with turnover of 1.072 billion HKD. The stock had surged over 11% in the prior two trading sessions before this significant pullback.

On the news front, although domestic refrigerant prices remain at decade-high levels — with R32 ex-factory price at 63,000 yuan/ton and R134a quoted at 64,000 yuan/ton, representing year-over-year gains exceeding 30% — the upward momentum has stalled. Short-term valuations had already priced in the price-hike expectations, intensifying profit-taking pressure. Dongyue Group holds approximately 130,000 tons of second- and third-generation refrigerant quotas, with R22 quota of 43,000 tons ranking first nationally and R32 quota of 56,000 tons ranking second, having been a primary beneficiary of the recent price rally cycle.

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