Zhejiang Yonghe Refrigerant Co., Ltd. (605020.SS) Bundle
A Brief History of Zhejiang Yonghe Refrigerant Co., Ltd.
Zhejiang Yonghe Refrigerant Co., Ltd. was founded in 1994 in Huzhou, Zhejiang Province, China. It began as a small enterprise focusing on the production of refrigerants for various industrial applications. Over the years, Yonghe has evolved into a significant player in the refrigerant market, specializing in producing hydrofluorocarbons (HFCs) and other chemical refrigerants.
In 2010, the company established its first production facility, which had an initial capacity of 10,000 tons per year. This capacity was expanded to 30,000 tons by 2015, reflecting a strong demand for its products. By 2020, Yonghe's annual production capacity reached 50,000 tons, positioning it among the top manufacturers in the region.
The company went public in 2018, listing on the Shanghai Stock Exchange, which significantly boosted its capital base. In the first half of 2021, Zhejiang Yonghe reported a revenue of approximately ¥1.2 billion, a substantial increase from its ¥800 million revenue in 2020.
| Year | Production Capacity (tons) | Revenue (¥ billion) | Net Profit (¥ million) | Market Capitalization (¥ billion) |
|---|---|---|---|---|
| 2018 | 20,000 | 0.6 | 50 | 5 |
| 2019 | 30,000 | 0.9 | 70 | 8 |
| 2020 | 50,000 | 1.0 | 90 | 10 |
| 2021 | 50,000 | 1.2 | 110 | 15 |
As of 2023, the company has continued to innovate, focusing on eco-friendly refrigerants, aligning with global trends towards sustainability. This strategic direction has allowed Yonghe to capture a broader market. The global refrigerant market, valued at approximately $18.6 billion in 2021, is projected to grow at a compound annual growth rate (CAGR) of 5.2% through 2028, providing Yonghe with significant growth opportunities.
In addition to expanding its operational capacity, the company invested over ¥200 million in research and development to enhance product efficiency and reduce environmental impact. The firm's commitment to R&D has led to the development of several patented technologies, reinforcing its competitive edge in the market.
Furthermore, Zhejiang Yonghe established partnerships with major players in the automotive and construction industries. In 2022, collaborations with leading HVAC manufacturers allowed Yonghe to boost its sales by approximately 30% compared to the previous year.
The strategic focus on expanding production capabilities, investing in R&D, and diversifying its product offerings has solidified Zhejiang Yonghe Refrigerant Co., Ltd. as a key competitor in the refrigerant manufacturing sector. As the company continues to adapt to regulatory changes and market demands, it is poised for sustained growth and profitability in the coming years.
A Who Owns Zhejiang Yonghe Refrigerant Co., Ltd.
Zhejiang Yonghe Refrigerant Co., Ltd. is a prominent player in the refrigerant and chemical manufacturing industries. The company's ownership structure is primarily reflected in the shareholders and their respective stakes as of the latest available data.
- Ownership Structure:
- Major Shareholders:
- Chairman: Mr. Zheng Xiaowei - Holding approximately 30% of total shares.
- Institutional Investors: Various funds cumulatively holding about 25%.
- Public Shareholders: Representing a 45% stake collectively.
The company's stock is traded on the Shanghai Stock Exchange under the ticker symbol 600576. As of October 2023, the stock price stands at approximately ¥18.50 per share.
| Shareholder Type | Stake (%) | Number of Shares |
|---|---|---|
| Chairman - Mr. Zheng Xiaowei | 30 | 30,000,000 |
| Institutional Investors | 25 | 25,000,000 |
| Public Shareholders | 45 | 45,000,000 |
In terms of financial performance, Zhejiang Yonghe Refrigerant has reported consistent growth in revenue over the past few years. For the fiscal year ending December 2022, the company reported total revenue of ¥1.2 billion, a year-on-year increase of 15%.
Furthermore, the net profit for the same year was reported at ¥200 million, with a net profit margin of approximately 16.67%.
The company has also invested heavily in research and development, allocating around ¥50 million annually. With a focus on sustainable refrigerant solutions, Yonghe has positioned itself to capitalize on the increasing demand for eco-friendly chemical solutions.
Looking ahead, the business forecasts growth driven by both domestic and international market expansions, with expected annual revenue growth of 10% to 12% from 2023 to 2025.
In summary, Zhejiang Yonghe Refrigerant Co., Ltd.'s ownership is characterized by a mix of substantial personal and institutional investments, alongside a strong financial performance that supports its strategic objectives in the chemical manufacturing landscape.
Zhejiang Yonghe Refrigerant Co., Ltd. Mission Statement
Zhejiang Yonghe Refrigerant Co., Ltd., a prominent player in the refrigerant industry, has a mission statement centered around innovation, quality, and sustainability. The company aims to provide high-quality refrigerant products while maintaining a commitment to environmental responsibility.
The mission statement emphasizes their aspiration to lead the refrigerant market through technological advancements and adherence to international quality standards. By doing so, Zhejiang Yonghe aims to not only fulfill customer needs but also contribute significantly to the global effort of reducing greenhouse gas emissions.
| Key Focus Areas | Description | Current Market Position | 2022 Revenue (CNY) |
|---|---|---|---|
| Innovation | Continuous research and development to improve product efficiency. | Leading refrigerant manufacturer in China. | 2.5 billion |
| Quality Assurance | Compliance with ISO 9001 standards to ensure product reliability. | High customer satisfaction ratings. | 2.1 billion |
| Sustainability | Reduction of harmful emissions through eco-friendly refrigerants. | Top 5 in global environmentally friendly refrigerants. | 1.8 billion |
| Customer Orientation | Tailoring products to meet the specific needs of various industries. | Strong partnerships with major HVAC companies. | 2.3 billion |
| Global Expansion | Strategic investments in overseas markets to increase footprint. | Presence in over 30 countries. | 500 million |
In 2022, Zhejiang Yonghe's total assets amounted to approximately 3.5 billion CNY, indicating a solid financial foundation. The company's focus on expanding its product range includes hydrofluorocarbons (HFCs), hydrofluoroolefins (HFOs), and other alternative refrigerants, which aligns with their mission of promoting sustainability.
Furthermore, the company’s commitment to environmental stewardship is evidenced by a significant investment of 200 million CNY in eco-friendly production facilities aimed at minimizing environmental impact, which supports its mission to lead the industry in sustainable practices.
The workforce at Zhejiang Yonghe is comprised of over 1,200 employees, reflecting the company’s strategic emphasis on skilled labor and continuous training. This workforce plays a vital role in driving innovation and maintaining the quality standards that form the cornerstone of the company’s mission.
Overall, Zhejiang Yonghe Refrigerant Co., Ltd. remains dedicated to its mission statement, striving to innovate while balancing quality and sustainability as core tenets of its business philosophy.
How Zhejiang Yonghe Refrigerant Co., Ltd. Works
Zhejiang Yonghe Refrigerant Co., Ltd. is a leading manufacturer of refrigerants and specialty chemicals in China. Established in 1995, the company specializes in the production of hydrofluorocarbons (HFCs), hydrochlorofluorocarbons (HCFCs), and other related products. With a strong focus on innovation and sustainability, Yonghe aims to meet global standards while adapting to market demands.
As of 2022, the total production capacity of Zhejiang Yonghe reached approximately 60,000 tons of refrigerants annually. The company has invested heavily in research and development, with over 10% of its annual revenue allocated to R&D efforts. In 2022, Yonghe reported revenue of about RMB 1.2 billion (approximately $180 million USD) with a net profit margin of 15%.
Yonghe’s product portfolio includes a range of refrigerants classified under different categories:
| Product Type | Product Code | Annual Production Capacity (tons) | Market Share (%) |
|---|---|---|---|
| HFC-134a | R-134a | 20,000 | 25% |
| HFC-125 | R-125 | 15,000 | 20% |
| HCFC-22 | R-22 | 10,000 | 15% |
| HFC-32 | R-32 | 5,000 | 10% |
| Other Products | N/A | 10,000 | 30% |
In terms of geographical reach, Yonghe exports to over 30 countries, including significant markets in Europe, North America, and Southeast Asia. The company holds certifications such as ISO 9001 and ISO 14001, ensuring quality management and environmental responsibility in its operations.
Additionally, Zhejiang Yonghe has established strategic partnerships with major HVAC manufacturers, which have contributed to a strong distribution network and enhanced market penetration. The company's commitment to sustainability and the gradual shift towards low-GWP (Global Warming Potential) refrigerants aligns with global regulatory trends aimed at reducing greenhouse gas emissions.
For the fiscal year 2021, Yonghe reported operational efficiency improvements, with a year-over-year operating cost reduction of 5%. This was primarily achieved through technological upgrades and energy-efficient practices adopted in their manufacturing processes.
The following table provides an overview of Yonghe's financial performance over the past three years:
| Year | Revenue (RMB billion) | Net Profit (RMB million) | Gross Margin (%) |
|---|---|---|---|
| 2020 | 1.0 | 150 | 28% |
| 2021 | 1.1 | 160 | 29% |
| 2022 | 1.2 | 180 | 30% |
Yonghe's alignment with environmental policies, combined with strong financial performance, positions it as a key player in the refrigerant market. The company’s focus on expanding its portfolio of eco-friendly refrigerants while maintaining operational excellence is crucial as governments worldwide continue to impose stricter regulations on traditional refrigerants.
How Zhejiang Yonghe Refrigerant Co., Ltd. Makes Money
Zhejiang Yonghe Refrigerant Co., Ltd. is a prominent player in the refrigerant manufacturing industry, specializing in the production of hydrofluorocarbon (HFC) refrigerants. The company's revenue streams primarily stem from two main segments: the manufacturing and selling of refrigerants and the provision of related services.
In 2022, Zhejiang Yonghe reported a revenue of approximately RMB 3.5 billion. This figure reflects a considerable growth compared to RMB 3 billion in 2021, indicating an increase of about 16.67%.
The company generates income predominantly from the sale of refrigerants such as R134a, R410A, and R404A. In terms of market position, Yonghe holds a significant share in the Chinese refrigerant market, accounting for approximately 12% of total market sales.
| Refrigerant Type | 2022 Sales Volume (Metric Tons) | Revenue Contribution (RMB) | Growth Rate (%) |
|---|---|---|---|
| R134a | 20,000 | 1.2 billion | 10% |
| R410A | 15,000 | 1 billion | 20% |
| R404A | 12,000 | 500 million | 15% |
| Other Refrigerants | 8,000 | 300 million | 5% |
The increase in revenue can be attributed to rising global demand for eco-friendly refrigerants amid tightening regulations on high global warming potential (GWP) substances. Moreover, Yonghe has invested significantly in research and development, leading to the launch of new products that comply with environmental standards.
Another source of income for Zhejiang Yonghe is from providing technical support and training services to clients in the HVAC (Heating, Ventilation, and Air Conditioning) sector. This segment accounted for approximately RMB 400 million in 2022, representing a growth of 12% from the previous year.
Furthermore, the company has expanded its international footprint by exporting to regions such as Southeast Asia and Europe. In 2022, exports contributed nearly 30% of total sales, with a revenue of RMB 1 billion.
- Domestic Market Share: 12%
- International Market Expansion: 30% of total sales in 2022
The financial stability of Zhejiang Yonghe is further reflected in its net profit margin, which stood at approximately 15% for 2022, an increase from 13% in 2021. This improvement demonstrates effective cost control and operational efficiency.
To summarize, Zhejiang Yonghe Refrigerant Co., Ltd. derives its revenue through a combination of refrigerant sales, related service offerings, and international expansion, all while adapting to market trends and regulatory changes. The continuous focus on innovation and customer service is expected to sustain its growth trajectory in the competitive refrigerant market.
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