ZJJH(SH:600160) Zheng Quan Shi Bao·2025-10-23 17:13Core Viewpoint - The rising prices of refrigerants have positively impacted the performance of related listed companies, with significant revenue and profit growth reported in the third quarter of 2025 [1][2]. Company Performance - Juhua Co., Ltd. (600160) reported a revenue of 20.394 billion yuan for the first three quarters of 2025, a year-on-year increase of 13.89%, and a net profit of 3.248 billion yuan, up 160.22% [1]. - In the third quarter alone, Juhua's revenue and net profit growth rates further increased to 21.22% and 186.55%, respectively [1]. - Juhua's average price for refrigerants reached 40,553.71 yuan per ton, reflecting a year-on-year increase of 58.14% and a quarter-on-quarter increase of 5% [1]. - Yonghe Co., Ltd. (605020) reported a revenue of 3.786 billion yuan, up 12.04%, and a net profit of 469 million yuan, up 220.39%, with a third-quarter net profit growth of 485.77% [2]. - Duofu Co., Ltd. (002407) achieved a revenue of 6.729 billion yuan and a net profit of 78.0546 million yuan, marking a year-on-year increase of 407.74% [2]. Industry Trends - The refrigerant market is undergoing fundamental changes due to the implementation of production quotas starting in 2024, positioning HFCs as the mainstream refrigerant for an extended period [1]. - The average transaction price of HFC refrigerants is expected to maintain a long-term upward trend, supported by national policies aimed at carbon neutrality [3]. - Short-term demand for refrigerants has slightly rebounded in October, although seasonal factors have led to a slowdown in the northern market [2].