Shanghai REFIRE Group Limited (Stock Code: 2570) has released key proposals concerning the adoption of its 2025 H Share Incentive Scheme, amendments to its Pre-IPO Share Option Scheme, and planned related party transactions scheduled for 2025. An extraordinary general meeting (EGM) will be convened on November 6, 2025, to consider and approve these proposals.

The proposed 2025 H Share Incentive Scheme would authorize the purchase of up to 3,000,000 H Shares, representing 3.46% of the total share capital. The scheme aims to enhance the Company’s long-term growth, attract and retain personnel, and deepen reforms in its remuneration system. This plan is subject to Shareholders’ approval at the EGM.

Proposed amendments to the Pre-IPO Share Option Scheme primarily involve extending the first exercise period from 12 months to 24 months following the end of the existing waiting period. The extension is designed to accommodate the longer approval timeline needed from the China Securities Regulatory Commission (CSRC), helping ensure the proper exercise of the granted options.

Additionally, the Company intends to engage in related party transactions in 2025 through the sale of hydrogen fuel cell systems, assemblies, and components. These transactions will be conducted in the ordinary course of business and on fair, market-based terms. Since they do not constitute connected transactions under Chapter 14A of the Listing Rules, no separate Shareholders’ approval is required; nonetheless, they will be tabled for approval along with the other proposals at the EGM.

A circular containing further details of all proposals, together with the EGM notice, will be distributed to Shareholders on or around October 17, 2025.