How have refrigerant production and sales changed?

  • At its earnings briefing on 3 November, Juhua said its refrigerant production and sales had improved somewhat quarter on quarter since the start of the fourth quarter.
  • At the industry level, refrigerant exports rebounded month on month in September, with a particularly noticeable increase in R32. There are signs of replenishment of low overseas inventories; as the fourth-quarter stocking window opens, expectations for a sequential recovery are relatively optimistic.
  • Complete export data for October still await customs statistics. Available industry export information mainly reflects changes through September.

What stage has the Gansu project reached?

  • The Gansu Juhua project has entered trial production with feedstock and has produced products including TFE and HFP.
  • The company positions it as a countercyclical investment in low-cost fluoropolymer capacity. It plans to draw on the industrial chain and local resource and energy advantages to advance products toward higher-end and greener applications.

How are the new refrigerant and liquid-cooling businesses progressing?

  • Refrigerant replacement is a long-term, gradual process, with its pace affected by safety standards, retrofit costs and customer certification. The company’s existing combined R290/R600a capacity is 35 thousand tonnes per year. Existing HFO-1234yf capacity is 10 thousand tonnes per year, with another 20 thousand tonnes per year under construction and 15 thousand tonnes per year planned.
  • The liquid-cooling business comes mainly from the Juxin coolant project of Zhejiang Chuangfu High-Tech, a majority-owned subsidiary. The project has planned capacity of 5000 tonnes per year. Its first-phase facility, with capacity of 1000 tonnes per year, has been completed and is operating well; output is currently ramping up.