DONGYUE GROUP (00189) saw its shares rise nearly 5% during the morning trading session. As of the time of writing, the stock was up 4.31%, trading at HKD 10.88, with a turnover of HKD 84.6089 million.

Market sentiment was buoyed by data from SCI99 indicating that the long-term contract prices for third-generation refrigerants in the first quarter of 2026 have been largely set at RMB 61,200 per ton for R32 (an increase of RMB 1,000) and RMB 55,100 per ton for R410a (an increase of RMB 1,900).

SWS Research noted that looking ahead to 2026, the demand for R134a per new energy vehicle is estimated to be several times that of a traditional fuel-powered vehicle. The increasing penetration rate of new energy vehicles is expected to further drive R134a demand.

In 2026, regions such as India will enter the final year of their quota baseline period, which could potentially boost import demand for high Global Warming Potential (GWP) varieties like R125. Furthermore, the willingness to switch quotas for R134a and R125 is considered lower than for R32, making their 2026 price performance highly anticipated.

Public information shows that DONGYUE GROUP is a leader in the fluorosilicone industry. Its polymer materials division is engaged in the production and sales of products such as polytetrafluoroethylene (PTFE).

The refrigerant division focuses on the production and sale of refrigerant products. The organic silicon division produces and sells raw rubber and compounded rubber, along with further processed silicone rubber products.

The divisions for dichloromethane, polyvinyl chloride (PVC), and caustic soda are involved in the production and sales of dichloromethane, PVC, and caustic soda products.