HK Stock Movement | REFIRE (02570) Drops Over 10% Again, Hitting New Post-IPO Low as Lock-Up Period Ends

Stock News12-09

REFIRE (02570) continued its decline, falling more than 10% to hit a new post-listing low of HK$73.6. As of press time, the stock was down 10.54% at HK$76, with a trading volume of HK$108 million. The drop follows the end of the lock-up period for the company's shares, which took effect yesterday. Data shows that 55 shareholders were affected, with a total of 54.21 million shares becoming tradable.

In the first half of the year, REFIRE reported revenue of RMB 107 million, a year-on-year decrease of 9.93%. The net loss attributable to shareholders narrowed by 28.66% to RMB 333 million. The company attributed the revenue decline to weaker sales of components compared to the same period in 2024.

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