Yonghe Reports 2026 H1 Revenue of RMB3.134 Billion, Net Profit Up 89.01%, Plans First Interim Dividend

Yonghe Co. , Ltd. disclosed its 2026 semi-annual report on August 16. In the first half, the company achieved operating revenue of RMB3.134 billion, up 28.16% year on year; net profit attributable to shareholders of RMB513 million, up 89.01%; non-GAAP net profit attributable to shareholders of RMB527 million, up 96.75%; and basic earnings per share of RMB1. The company plans to distribute a cash dividend of RMB2.5 per 10 shares (tax inclusive), with a total cash dividend of approximately RMB127 million, representing 24.74% of first-half net profit attributable to shareholders. This marks the company's first interim dividend since listing. In the first half, the company's average gross margin was 30.43%, up 5.14 percentage points from the same period in 2025; net cash flow from operating activities was RMB424 million, up 25.92% year on year.

Yonghe is primarily engaged in the research, development, production, and sales of fluorochemical products, with a complete industrial chain from fluorite ore, hydrofluoric acid, methane chloride, fluorocarbon chemicals to fluoropolymer materials and fine fluorochemicals. During the reporting period, the refrigerant industry was constrained by quota management policies, with supply tightening in an orderly manner and downstream demand continuing to recover, keeping prices of major refrigerant products at high levels. In the first half, the company's fluorocarbon chemicals segment produced 90,564.91 tons, up 9.21% year on year; sales after deducting internal usage were 41,549.90 tons, down 4.12% year on year; average prices rose 19.48% year on year and 16.39% quarter on quarter in the second quarter; revenue reached RMB1.501 billion, up 14.55% year on year; and average gross margin was 41%, up 8.57 percentage points from the same period in 2025.

The fluoropolymer materials segment produced 35,994.58 tons in the first half, up 31.63% year on year; sales after deducting internal usage were 28,083.13 tons, up 49.46% year on year; revenue was RMB1.226 billion, up 53.27% year on year; and average gross margin was 24.55%, up 4.80 percentage points from the same period in 2025. The segment saw steady growth in production and sales, coupled with strong downstream demand, driving both volume and price increases. New capacity ramped up steadily, and the company continued to improve processes and product quality, effectively matching some mid-to-high-end downstream market demand. The chemical raw materials segment achieved revenue of RMB272 million in the first half, up 22.68% year on year; the fine fluorochemicals segment achieved revenue of RMB61.56 million, up 24.58% year on year.

As of the end of the reporting period, the company had annual production capacity of 185,000 tons of anhydrous hydrofluoric acid, 190,000 tons of fluorocarbon chemical monomers, 90,100 tons of fluoropolymer materials and monomers, and 7,000 tons of fine fluorochemicals, as well as 97,200 tons of blended and repackaged refrigerants. Projects under construction include 30,000 tons of hydrofluoric acid, over 30,000 tons of fluoropolymer materials, and 43,000 tons of fourth-generation refrigerants. In research and development, the company invested RMB64.17 million in the first half, up 24.74% year on year. The company launched YH515B, a ternary azeotropic low-GWP refrigerant for heat pump and chilled water cooling systems, and is advancing downstream application testing. The key comonomer PPVE has achieved in-house production, and the self-developed high-purity PFA product has passed F57 and C90 standard certifications, with efforts underway to promote applications in the semiconductor field.