Dongyue Group's stock soared 5.02% intraday on Wednesday, reflecting positive investor sentiment.

The surge follows the company's recent annual results, which showed a 102.49% year-on-year jump in net profit attributable to shareholders. The refrigerant segment was a core profit driver, with its profit soaring 183.71% due to quota-driven price increases for third-generation refrigerants. Despite rising raw material costs, the company can pass these costs through to customers under the current quota system.

Additionally, the company's 44%-held subsidiary, Dongyue Silicon Materials, turned profitable in the first quarter, providing further earnings support. A major brokerage has maintained a Buy rating on the stock with a target price of HKD 19.77, citing an upward earnings cycle ahead.