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Chinese fluorochemical producer making HFC refrigerant gases, a beneficiary of China's government-allocated refrigerant production quotas.
Chinese fluorochemical producer making HFC refrigerant gases, a beneficiary of China's government-allocated refrigerant production quotas.
Sells refrigerant gases in bulk by the tonne to air-conditioner makers and servicing distributors, with prices tied to how tight supply is. Under the global Kigali Amendment, China caps HFC production and the government allocates yearly quotas, so output cannot expand freely and a producer's quota is its key asset.
Moat: narrow (regulatory licence, scale). Refrigerant production quotas are government-allocated, limiting supply and protecting incumbent producers.
Headquarters: Quzhou, China · Employees: 2,938
Size Zhejiang Yonghe Refrigerant (605020.SS) is a China Materials company (Chemicals: Specialty) with a market value of $2.17B, the 1172nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥28.31 on 6 Nov 2026.
Performance Over six months the shares gained 5.2%, against -14.8% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 25.3% over the last twelve months (peer median +6.7%); the operating margin is 18.2% (peer median 7.4%).
Valuation It trades at 13.3× forward earnings against a peer median of 14.8× (8th cheapest of 16).
Capital Return on invested capital runs 4.9 points above its cost of capital (9.6% WACC).
Next results Next results expected around 8 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.28B | CN¥5.19B | CN¥4.60B | CN¥4.35B | CN¥3.79B |
| Revenue growth | — | +13% | +6% | +15% | — |
| Gross profit | CN¥2.09B | CN¥1.23B | CN¥754M | CN¥573M | CN¥655M |
| EBITDA | n/a | CN¥1.16B | CN¥697M | CN¥449M | CN¥486M |
| Net income | CN¥908M | CN¥562M | CN¥251M | CN¥184M | CN¥300M |
| Free cash flow | -CN¥143M | CN¥2.51M | -CN¥374M | -CN¥909M | -CN¥831M |
| Capital expenditure | CN¥1.10B | CN¥686M | CN¥956M | CN¥1.43B | CN¥1.27B |
| Total debt | CN¥1.90B | CN¥1.24B | CN¥3.21B | CN¥2.95B | CN¥1.92B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Zhejiang Yonghe Refrigerant 605020.SS | $2.17B | +5% | +25% | 18% | 13.3× | n/a |
| Zhejiang Sanmei Chemical Industry 603379.SS | $4.64B | -22% | +24% | 41% | 13.5× | 5.4% |
| Honeywell Technologies HON | $69.8B | -1% | -17% | 18% | 23.2× | 4.1% |
| Zhejiang Juhua 600160.SS | $13.1B | -12% | -5% | 20% | 18.2× | n/a |
| Dongyue 0189.HK | $2.04B | -28% | +8% | 19% | 5.6× | -12.4% |
| Chemours CC | $1.92B | -45% | -1% | 3% | 8.2× | 16.1% |
| Arkema AKE.PA | $4.96B | -9% | -6% | 5% | 13.7× | 12.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 605020.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.4% | -8.8% | 8th highest of 21 |
| 6-month return | +5.2% | -14.8% | 5th highest of 20 |
| Distance from 52-week high | -44.5% | -33.3% | 10th lowest of 21 |
| Revenue growth (TTM) | +25.3% | +6.7% | 5th highest of 20 |
| Operating margin | 18.2% | 7.4% | 2nd highest of 20 |
| Forward P/E | 13.3× | 14.8× | 8th cheapest of 16 |
| ROIC minus cost of capital | +4.9 pp | -2.4 pp | 2nd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang Yonghe Refrigerant 605020.SS | China | $2.17B | +5% | +25% | 18% | 13.3× | n/a | n/a |
| Rogers ROG | United States | $2.17B | -13% | +7% | 10% | 26.2× | 10.3% | +0.2% |
| Epoxy Base Electronic Material 603002.SS | China | $2.19B | -7% | +73% | 7% | 71.6× | n/a | n/a |
| SKC 011790.KS | South Korea | $2.14B | -46% | +24% | -9% | n/a | n/a | n/a |
| Deepak Nitrite DEEPAKNTR.NS | India | $2.22B | -17% | +25% | 14% | 16.5× | n/a | n/a |
| Tinergy Chemical 002145.SZ | China | $2.23B | -15% | +17% | 9% | n/a | n/a | n/a |
| Shaanxi Beiyuan Chemical Industry 601568.SS | China | $2.11B | -9% | -8% | -4% | 11.8× | 11.8% | -1.8% |
| Sinochem International 600500.SS | China | $2.27B | -7% | -5% | -1% | n/a | 11.9% | -2.7% |
| Ningbo Ronbay New Energy Technology 688005.SS | China | $2.05B | -45% | +41% | 1% | 37.8× | n/a | n/a |
| Kaneka 4118.T | Japan | $2.30B | +23% | +4% | 5% | 11.6× | 4.9% | +7.0% |
| Dongyue 0189.HK | Hong Kong | $2.04B | -28% | +8% | 19% | 5.6× | -12.4% | +6.6% |
| Shanghai Huayi 600623.SS | China | $2.41B | -24% | +5% | n/a | 14.8× | -11.1% | +10.3% |
| Ube 4208.T | Japan | $1.94B | +33% | +3% | 4% | 12.0× | n/a | n/a |
| Shandong Dongyue Silicone Material 300821.SZ | China | $2.43B | -11% | +13% | 13% | n/a | 20.7% | +8.6% |
| Chemours CC | United States | $1.92B | -45% | -1% | 3% | 8.2× | 16.1% | +3.2% |
| Guangdong Huate Gas 688268.SS | China | $1.92B | -47% | +27% | 13% | 56.1× | 35.6% | +7.2% |
| Minerals Technologies MTX | United States | $1.91B | -22% | +5% | 13% | 9.8× | 0.5% | +5.4% |
| Lily 603823.SS | China | $1.91B | +85% | +2% | 10% | 58.1× | 27.9% | +1.4% |
| Standard Nuclear STDN | United States | $1.90B | n/a | n/a | -288% | n/a | n/a | n/a |
| Daicel 4202.T | Japan | $2.48B | +24% | +2% | 7% | 11.1× | 6.1% | +8.1% |
| Lianhe Chemical Technology 002250.SZ | China | $1.90B | -16% | +28% | 13% | 19.7× | -3.4% | +6.1% |