DONGYUE GROUP (00189) rose more than 8% intraday, and as of press time, it was up 6.31% at HK$11.12, with a turnover of HK$425 million.

On the news front, according to SteelUnion data, R32 refrigerant prices remain firm at high levels, while R134a continues to climb. Data from BaiChuan YingFu shows that as of October 31, prices of R32, R125, R410a, and R134a have increased by 46.51%, 8.33%, 27.83%, and 27.06%, respectively, compared to the beginning of the year.

CITIC Securities released a research report stating that China's chemical product prices have been declining for four consecutive years, but anti-involution policies and industry self-regulation measures are being introduced, suggesting a potential cyclical turning point may be approaching. The report highlights that with marginal improvements expected in both supply and demand, attention should be paid to sectors benefiting from supply-demand rebalancing and domestic demand recovery, such as fluorochemicals, with DONGYUE GROUP being a key player.

Kaiyuan Securities noted that as China's carbon peak and neutrality strategies advance, the second-generation refrigerant R22 will face large-scale phase-outs, while HFCs are expected to benefit from policy-driven rapid adoption.