Dongyue Group (00189) saw its intraday increase exceed 19%, reaching a high of HK$18.10, with its year-to-date stock price cumulative gains already nearing 60%. As of the time of writing, the stock price has risen by 13.65%, currently trading at HK$17.23, with a turnover of HK$1.77 billion.

Kaiyuan Securities pointed out that the previously overly strict and aggressive HFCs reduction plans in Europe and the United States, slower-than-expected progress in HFO alternatives, tight international supply and local inventories, combined with the arrival of peak season demand, have triggered a significant price increase for overseas refrigerants. This has led to a relaxation of HFCs compliance deadlines, effectively extending the lifecycle of HFCs. The underlying reason is believed to be a supply shortage of high-GWP HFCs refrigerants in Europe and the United States, necessitating policy adjustments to meet domestic demand. This directly demonstrates the strong demand for HFCs refrigerants, which are difficult to replace quickly. With robust demand, insufficient inventories, and rising prices, a global restocking cycle for refrigerants may be in the making.