REFIRE Secures HKEX Approval for Full-Circulation Conversion of 26.61 Million H Shares

Bulletin Express05-11

Shanghai REFIRE Group Limited (REFIRE) disclosed on 11 May 2026 that it has obtained approval from the Listing Committee of The Stock Exchange of Hong Kong Limited to convert 26.61 million domestic shares into H shares and permit their trading in Hong Kong.

The conversion involves 15 domestic shareholders and accounts for 28.54% of REFIRE’s 93.23 million total issued shares (including treasury shares).

Key participants and post-conversion stakes: • Chairman Lin Qi will convert 5.92 million shares, representing 6.35% of total share capital. • Sinopec Group Capital Co., Ltd. will convert 8.74 million shares, equal to 9.37%. • National Manufacturing Transformation and Upgrade Fund Co., Ltd. will convert 3.74 million shares, or 4.01%.

Upon completion, the company’s share structure will shift materially: • H-share proportion will rise from 66.66% to 95.20%, totaling 88.76 million shares. • Domestic shares will fall from 33.34% to 4.80%, totaling 4.47 million shares. • The absolute share count remains unchanged at 93.23 million.

REFIRE stated that it will finalize the necessary conversion and trading procedures and will release further updates in line with Hong Kong Listing Rules. Shareholders and investors are advised to exercise caution when dealing in the company’s securities.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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