Shanghai REFIRE Group Limited (2570) reported the closing of its new H share placing on January 26, 2026. In total, 4,536,000 new H shares were issued at a placing price of HK$58.38 each, resulting in gross proceeds of approximately HK$264.81 million and net proceeds of around HK$258.39 million. The net issue price per share is approximately HK$56.96.

According to official information, half of the net proceeds—approximately HK$129.20 million—will be used to repay outstanding bank loans and lease liability, while the remaining half will go toward general corporate purposes. The shareholding structure has been adjusted after the placing, with the total number of issued shares (excluding treasury shares) increasing from 88,679,641 to 93,215,641. Company directors confirmed no placee has become a substantial shareholder upon completion.