Refire shareholders vote on shifting HK$200 million IPO proceeds to working capital

PUBT·04/24/2026 14:52:46

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Shanghai Refire shareholders will vote on a proxy proposal to reallocate unspent IPO proceeds, shifting HK$ 200 million from hydrogen fuel cell R&D, capacity expansion, hydrogen production systems expansion to working capital.
Separate proxy proposal seeks to redirect RMB 100 million of subscription proceeds from hydrogen R&D center construction to working capital.
Votes are scheduled for annual general meeting on May 18, 2026.
Board urges shareholders to support both reallocations to strengthen liquidity, improve capital efficiency.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Shanghai Refire Group Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260424-12123367), on April 24, 2026, and is solely responsible for the information contained therein.

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