On 26 January 2026, Shanghai REFIRE Group Limited reported an issuance of 4,536,000 new H shares under a general mandate approved at its annual general meeting on 19 May 2025. The issue price was HKD 58.38 per share, representing approximately a 7.88% increase from the original 57,595,535 H shares in issue (excluding treasury shares). Following the placing, the total number of issued H shares (excluding treasury shares) rose to 62,131,535.

According to the disclosure, there were 18,000 treasury shares at both the opening balance on 31 December 2025 and the closing balance on 26 January 2026, making the overall share count 62,149,535 after the new issuance. The issuer confirmed that this share issuance was authorized by the board of directors and complied with key listing and regulatory requirements. The company did not report any repurchases or sales of treasury shares during this period.