Core Viewpoint - The Ministry of Ecology and Environment has announced a draft regulation to prohibit the production of household refrigerators and freezers using hydrofluorocarbons (HFCs) as refrigerants, aiming to comply with the Montreal Protocol and promote a transition to low-carbon and environmentally friendly technologies [1][2]. Group 1: Regulatory Framework - The regulation will take effect on January 1, 2026, and will apply to household refrigerators and freezers as defined by GB/T 8059 standards [2]. - Local environmental authorities will enforce compliance and penalize companies that violate the regulation [2]. - China accepted the Kigali Amendment in September 2021, committing to phased reductions in HFCs production and usage [2]. Group 2: Industry Context - Prior to 2007, the household refrigerator and freezer industry primarily used CFC-12 as a refrigerant, which has since been completely phased out [3]. - Currently, the industry mainly uses isobutane (R600a) as a refrigerant, with HFCs accounting for less than 6% of total production, primarily HFC-134a [3]. - In 2023, approximately 1,400 tons of HFC-134a were used in the production of household refrigerators and freezers, representing less than 2% of the total national usage of HFC-134a [3]. - The technology for using isobutane as a low-carbon alternative is well-established and has been commercially viable since 2000, making it a cost-effective substitute for HFCs [3]. Group 3: Public Engagement - The draft regulation and its explanatory notes have been published on the Ministry's website, inviting feedback from organizations and individuals until August 22, 2025 [4].

Core Viewpoint - The company ST Lianchuang (300343.SZ) confirmed that it still holds a portion of production quotas for hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs), which are managed by its wholly-owned subsidiary, Shandong Huaan New Materials Co., Ltd [2] Group 1 - The Ministry of Ecology and Environment has announced adjustments to the production quotas for HCFCs and HFCs for the year 2025 [2] - Investors inquired about the absence of the company's name in the recent quota adjustments [2] - The company directed investors to refer to the relevant documents and attachments from the Ministry of Ecology and Environment for more details [2]