Dongyue Group (HKEX: 00189) shares have risen by more than 7%. At the time of writing, the stock is up 7.65% to HK$18.3, with a trading volume of HK$270 million.

The increase follows reports of a tight supply-demand situation in the refrigerant market, driving a sustained uptrend in the sector's performance. A manager at a cold chain warehouse in Jinan, Shandong Province, noted that recent comprehensive warehouse utilization rates have remained above 90%, nearing full capacity during peak periods.

Furthermore, the rapid adoption of new energy vehicles in recent years has opened up new avenues of demand for refrigerants. Data shows that as of June 12th, the average market prices for R32, a refrigerant commonly used in air conditioners, and R134a, widely used in new energy vehicles, have reached 62,500 yuan per ton and 59,727 yuan per ton, respectively.

These figures represent year-on-year increases of 34.13% and 30.77%, with the prices hitting their highest levels for the period in nearly a decade.