Shares of DONGYUE GROUP jumped more than 8% in afternoon trading, with the stock last up 6.37% at HK$13.69, on trading volume of HK$342 million.

Market data shows that prices of mainstream refrigerants, including R22, R32, R134a, and R410a, have been steadily rising. As of July 2026, domestic refrigerant prices remain at historically elevated levels, exhibiting a trend of "high-level stabilization with continued increases in long-term contracts." Core varieties such as R32 and R134a have reached their highest prices for the same period in nearly a decade.

Analysts at Kaiyuan Securities believe that despite some pressure on the overall industry chain in the first half of 2026, the expansion of long-term contract prices in the third quarter exceeded expectations, underscoring the resilience of the "price before volume" logic. A global refrigerant restocking cycle is likely to occur in the second half of the year, which could further boost market performance. The brokerage argues that the scarcity-driven business model of refrigerants will allow the sector to navigate economic cycles, while breakthroughs in high-end materials will validate growth potential. Short-term price volatility does not change the industry's underlying logic, and investors are advised to seize long-term opportunities.