$DONGYUE GROUP(00189.HK)1. The company is a technology leader in fluoropolymer materials and key new energy materials, serving as a core supplier in sectors like PVDF (lithium battery binder) and proton exchange membranes (key hydrogen energy material), directly benefiting from the high growth of EV and hydrogen energy industries.

2. As an industry leader with a complete supply chain from fluorspar resources to high-end products, it demonstrates strong cost control capabilities and clear advantages during raw material fluctuations, achieving higher profit stability than peers.

3. While its traditional refrigerant business faces policy headwinds, the company is rapidly pivoting to high-value-added, low-GWP fourth-generation refrigerants leveraging its technical edge, poised to lead industry upgrades and unlock new growth potential.