Dongyue Group (00189) saw its shares rise more than 4%, with a gain of 3.57% to HK$12.47 at the time of writing. Turnover reached HK$89.72 million. The increase is driven by a simultaneous rise in volume and price for refrigerants, leading to positive forecasts from leading companies in the sector. Recent reports indicate that firms such as Juhua Co., Ltd., Sanmei Co., Ltd., and Yonghe Co., Ltd. expect their net profit growth for 2025 to exceed 100%. These companies attribute the performance improvement to the continued recovery in fluorocarbon refrigerant prices and stable production and sales volumes. Shenwan Hongyuan Group believes that with HFCs quotas for 2026 already allocated, strict global supply constraints, coupled with optimized industry structure and growing downstream demand, will support a long-term upward trend in refrigerant prices and margins. As functional products, refrigerants are gradually exhibiting characteristics of essential consumer goods and a franchise-like business model.