Group 1 - The core viewpoint of the news is that Yonghe Co., Ltd. expects significant profit growth in the upcoming quarters, driven by the high demand and favorable supply-side policies in the refrigerant industry [1] - For the first three quarters of 2025, the company anticipates a net profit attributable to shareholders of approximately 456 million to 476 million yuan, representing an increase of about 310 million to 330 million yuan year-on-year, which translates to a growth rate of 211.59% to 225.25% [1] - The expected net profit for the third quarter of 2025 is projected to be between 185 million and 205 million yuan, indicating a year-on-year growth of 447.64% to 506.85% and a quarter-on-quarter increase of 6.34% to 17.83% [1] Group 2 - The main reason for the performance change is the sustained high prosperity in the refrigerant industry, supported by supply-side quota policies and steady growth in downstream demand [1] - The second-generation fluorinated refrigerant production quotas continue to decrease, while the third-generation fluorinated refrigerants (HFCs) are still subject to production quota management, which strengthens supply-side constraints and optimizes the supply-demand structure [1] - Downstream demand in sectors such as air conditioning and cold chain logistics is steadily increasing, which supports continuous price increases and steady improvements in gross profit margins [1] Group 3 - In 2024, Yonghe Co., Ltd.'s revenue composition is expected to be 97.37% from the fluorochemical industry and 2.63% from other businesses [2] - As of the report date, the market capitalization of Yonghe Co., Ltd. is 14.4 billion yuan [2]