永和股份：预计2025年净利润同比增长110.87%到150.66%

Core Viewpoint - The company, Yonghe Co., Ltd. (605020.SH), expects a significant increase in net profit for the year 2025, projecting a range of CNY 530 million to CNY 630 million, representing a year-on-year growth of 110.87% to 150.66% [1]. Financial Projections - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, to be between CNY 524 million and CNY 624 million, with a year-on-year growth of 113.17% to 153.86% [1]. Industry Outlook - The refrigerant industry is expected to maintain a high level of prosperity throughout the year, driven by rising prices that enhance profitability [1]. - The supply-demand dynamics in the refrigerant industry are improving, with a continued reduction in production quotas for second-generation fluorinated refrigerants (HCFCs) and ongoing management mechanisms for third-generation fluorinated refrigerants (HFCs), leading to a contraction in supply and a more favorable competitive environment [1]. - Demand from downstream applications, such as household air conditioning and automotive air conditioning, is expected to grow steadily, supporting price increases for mainstream refrigerant products [1]. Company Performance - The company has achieved smooth production and sales alignment for its refrigerant products throughout the year, resulting in a significant year-on-year increase in average product prices [1]. - The growth in revenue and gross margin for the refrigerant business segment has reinforced the overall profitability of the company [1].