REFIRE (02570) announced that the company recently received the "Approval on Consent for Shanghai REFIRE Group Co., Ltd. to Issue Shares to Specific Targets" (CSRC Approval [2025] No. 2544) dated November 17, 2025, from the China Securities Regulatory Commission (CSRC). Accordingly, the CSRC has approved the issuance of domestic shares under the subscription arrangement (the "Issuance"). The key details of the approval are as follows:
I. The CSRC has approved the company's registration application to issue domestic shares to specific targets. II. The Issuance must be implemented strictly in accordance with the application documents submitted to the CSRC. III. The approval is valid for 12 months from the date of CSRC registration approval. IV. If any significant events occur from the date of CSRC approval until the completion of the Issuance, the company must promptly report to the CSRC and handle them in accordance with relevant regulations.
The board of directors will proceed with the subscription arrangement in compliance with the approval, relevant laws and regulations, and the special authorization granted by the interim shareholders' meeting. Further announcements will be made in due course as required by the listing rules and/or applicable laws and regulations.
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