TacticScaleWhat Dongyue Does & How It Makes Money (0189.HK)
Updated October 2026 · reflects Dongyue's latest reported financials
Chinese chemical maker of fluoropolymers, refrigerants and organic silicone. It earns most of its revenue by making and selling polymers, refrigerants, organic silicone, dichloromethane and liquid alkali to industrial customers.
How Dongyue makes money
It earns most of its revenue by making and selling polymers, refrigerants, organic silicone, dichloromethane and liquid alkali to industrial customers. It also has smaller income from property development and rental, utilities, and environmental services.
What Dongyue does
Dongyue Group Limited is a Chinese chemical manufacturer founded in 1987 and headquartered in Zibo. It reports five segments: Polymers, Refrigerants, Organic Silicone, Dichloromethane and Liquid Alkali, and Other Operations. Its products cover the fluorine and silicon chemical chains, from raw materials such as fluorite, anhydrous fluoride and hydrofluoric acid to finished materials such as PTFE, other fluoropolymers, silicone rubber and organosilicon materials. It also sells methane chloride, ammonium bifluoride and bromine. Beyond its main chemical business, the group develops and rents property, produces and supplies salts, electricity, heat, gas and water, and smelts and sells metal and alloy materials. It also provides sewage treatment, environmental monitoring and business consulting services, invests in the fluorosilicone new-materials industry, and carries out chemical technology R&D. It sells in China and internationally.
Products & services
- Polytetrafluoroethylene (PTFE)
- Refrigerants
- Organic silicone and silicone rubber
- Dichloromethane
- Liquid alkali
- Hydrofluoric acid and anhydrous fluoride
What is Dongyue worth?
On an owner-earnings DCF, Dongyue's most-likely value is about HK$7 versus a recent price near HK$11 (58% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~HK$4) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Related companies
Shandong Dongyue Organosilicon Materials (300821.SZ) · Zhejiang Yonghe Refrigerant (605020.SS) · Zhejiang Yongtai Technology (002326.SZ) · The Chemours (CC) · Zhejiang Sanmei Chemical Industry (603379.SS)