Dongyue Group reported FY2025 revenue of RMB14.36 billion, broadly flat year-on-year (+1.23%), while gross profit jumped 44.2% to RMB4.42 billion as the gross margin widened to 30.81% from 21.62% a year earlier. Profit attributable to owners of the company more than doubled to RMB1.64 billion, lifting basic EPS to RMB0.98 (2024: RMB0.46).

\n\nThe refrigerants division was the principal earnings driver, with external sales up 52.1% to RMB4.94 billion and segment profit soaring 183.7% to RMB2.29 billion, delivering a 46.30% operating margin. Fluoropolymers generated revenue of RMB3.93 billion (+2.8%) but segment profit fell 29.8% to RMB0.36 billion due to higher R&D spending and goodwill impairment. Organic silicon revenue dropped 26.6% to RMB3.82 billion and the segment swung to a RMB0.05 billion loss, reflecting lower product prices and a temporary plant shutdown. Dichloromethane and liquid alkali contributed RMB1.22 billion in revenue (+10.8%) and RMB0.36 billion in profit, while “Others” reported a RMB0.38 billion loss after an impairment on an aging power plant.

\n\nOperating expenses were mixed: distribution and selling costs declined 4.9% to RMB0.42 billion, but administrative expenses rose 30.0% to RMB0.96 billion on asset impairments and higher staff costs. R&D investment increased 10.9% to RMB0.78 billion, representing 5.46% of revenue.

\n\nThe balance sheet strengthened with total equity rising 15.4% to RMB20.17 billion. Net cash reached RMB3.20 billion, producing a negative gearing ratio of 24.81%. Cash and bank balances stood at RMB5.01 billion, up from RMB2.47 billion, while capital expenditure amounted to RMB1.67 billion, mainly for the new energy centre targeted for completion in 1H26.

\n\nThe Board recommends a final dividend of HK$0.30 per share (2024: HK$0.10), subject to shareholder approval on 4 June 2026; the books will close from 11 June to 15 June 2026, with payment slated for 14 July 2026.

\n\nManagement highlighted plans to accelerate the energy centre construction, deepen cost control across the value chain, and intensify R&D aimed at high-growth applications in AI, new energy and advanced manufacturing, while maintaining strict safety and environmental standards.