东海证券指出，目前二代制冷剂R22主要用于维修市场，存量需求比较稳定，R22配额的削减有望推动价格持续上涨。三代制冷剂方面，受到今年家用空调需求的推动，R32社会库存减少，价格快速上行，内用配额虽已增发35000吨，目前看对价格没有产生过多影响，因此我们认为，2025年度增发配额对R32的价格也将不会产生负面影响，三代制冷剂景气有望延续，相关制冷剂生产厂家有望持续获益。dongyue group (00189) fell more than 8% in the afternoon, as of the press release, down 7.39%, at 6.27 Hong Kong dollars, with a turnover of 0.156 billion Hong Kong dollars.
According to the Zhixun Finance APP, dongyue group (00189) fell more than 8% in the afternoon, down 7.39% as of the press release, at 6.27 Hong Kong dollars, with a turnover of 0.156 billion Hong Kong dollars.
On the news front, the total quota setting and distribution plan for the second and third generation refrigerant quotas in 2025 has been announced. According to the plan, the 2025 second-generation refrigerant quota scheme maintains the content of the previous draft, with R22 production and domestic use quotas reduced by 3.28 and 3.10 thousand tons compared to 2024, with reductions of 18% and 28% respectively; for the 2025 third-generation refrigerant, apart from an increase of 30 tons for R41 production quota compared to the previous draft, the quotas for other varieties remain unchanged, with an additional 0.045 million tons quota for R32, with a cumulative increase not exceeding 10%.
Donghai Securities pointed out that currently, the second-generation refrigerant R22 is mainly used for the maintenance market, with stable demand and a reduction in R22 quota expected to drive prices upward. As for the third-generation refrigerant, driven by this year's demand for household air conditioners, social inventories of R32 have decreased, prices have risen rapidly, although 35,000 tons of additional domestic quotas have been issued, it is currently seen that this has not had much impact on prices. Therefore, we believe that the additional quota issuance in 2025 will also not have a negative impact on the price of R32, and the prosperity of the third-generation refrigerant is expected to continue, with related refrigerant manufacturers expected to continue to benefit.
