Yonghe's profit surge continues, but third-quarter growth stalls
First-half profit nearly doubled on refrigerant boom First-half 2026 net profit jumped 89% to 513 million yuan as refrigerant prices stayed high and demand recovered, helped by industry quota limits that keep supply tight. This is the core reason the stock has been strong.
It shows the main earnings engine behind the stock's rise.
Buybacks and first dividend return cash to shareholders The company started buying back shares (260,000 shares for 8.18 million yuan) under a plan worth up to 300 million yuan, backed by a 270 million yuan bank loan, and announced its first interim dividend of 0.25 yuan per share. These actions support the stock price and show confidence.
These capital-return moves directly support investor confidence and the share price.
Convertible bond plan accepted to fund growth The Shanghai Stock Exchange accepted Yonghe's application to raise 2.2 billion yuan through convertible bonds. This gives the company money to expand, but also may dilute existing shareholders' stakes over time.
It is a major new financing event that affects future growth and share count.
Nine-month profit still up, but third quarter slows sharply Yonghe expects first-three-quarters net profit of 760–860 million yuan, up 62–83% year on year, driven by fluoropolymer volume growth. But third-quarter profit of 247–347 million yuan is roughly flat to down 25% from the second quarter, a warning that growth is cooling.
It is the latest earnings signal and shows both continued growth and a slowdown.