Editor's Note
In October 2025, the price of R22 experienced a significant decline, driven by an unexpected drop in downstream demand, compounded by an oversupply of R22 in the market. Looking ahead, it is anticipated that the price of R22 will continue to exhibit weak fluctuations.
Important market dynamics
- In October 2025, Zhejiang Juhua Co., Ltd. reported a 160.22% YoY increase for Q1–Q3 2025 net profit, with higher refrigerant prices being the principal driver.
- On 14 October, 2025, Shandong Chief New Materials Co., Ltd. (Chief New Materials)'s environmental protection acceptance monitoring report for the high-end fluorinated electronic materials and supporting chemicals project (Phase I) was publicised.
- On 9 October, 2025, Jiangxi Lee & Man Chemical Co., Ltd.'s revised environmental impact (EI) report for the novel green refrigerant project (Phase I) was accepted.
- On 29 September, 2025, Sichuan Zhongfu Taihua New Materials Technology Co., Ltd.'s environmental impact (EI) report for the 10,000 t/a PVDF and 60,000 t/a electronic & anhydrous hydrogen fluoride project was accepted.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB7.1102 on 9 Oct., 2025, sourced from the People's Bank of China.
All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
If you would like to cover any specific topics or investigate any covered subjects in more details, please contact us on +86-20-37616606, or econtact@cnchemicals.com
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Market Analysis
- LiPF6 price surges in October
Company Dynamics
- Zhejiang Juhua's Q1–Q3 2025 net profit leaps 160.22% YoY
- Phase I of Jiangxi Lee & Man's novel green refrigerant project accepted
- Taihua New Materials cuts planned PVDF capacity from 25,000 t/a to 10,000 t/a
- Chief New Materials' fluorinated electronic materials project (Phase I) passes acceptance check
- HEC projects over 170% surge in net profit for first three quarters of 2025
- Zhejiang Yonghe's Q3 2025 net profit surges 447.64%–506.85% YoY
- Jiujiang New Power to add 3,000 t/a AHF capacity for Tinci Materials' LiPF6 production
- Gansu Juhua's silicon-fluorine new material integration project to begin trial runs in 2026
- Zhejiang Sanmei announces fourth-generation refrigerants pilot project
Political Factors
- China formally released 2026 refrigerant quota allocation plan
- 20 enterprises' 2025 HFCs production quota adjustments approved
- India imposes final anti-dumping duties on Chinese R134a
Technology
- Shilei Fluorine Material to lift LiPF6 capacity to 24,000 t/a with technological renovation
- Tsinghua University boosts solid-state battery with fluorinated polyether material
Market Data Analysis
- Fluorite price slightly increases in October
- AHF price keeps climbing in October
- R22 price plummets in October
- AIF3 price continues to rise in October
Import and Export
- Import and export of major fluorochemicals in China in August 2025
Price Update
- Ex-works prices of major fluorochemicals in China in Oct. 2025

