Shanghai REFIRE Group Limited

Shanghai REFIRE Group Limited (02570.HK, hereinafter referred to as “REFIRE”) was established in September 2015. Headquartered in Shanghai, China, REFIRE focuses on the technological research and product development in the field of hydrogen energy, the construction of hydrogen energy industrial ecosystem, and the promotion of large-scale commercial applications. It is a leading hydrogen energy technology enterprise with a market-oriented approach and a global vision. REFIRE has made all-round key technological layouts in fuel cells and hydrogen production equipment, and can provide one-stop solutions for hydrogen production and terminal applications, realize the collaborative application of hydrogen and electricity, and build a “electricity-hydrogen-electricity” new business model. REFIRE is the supporting unit of the Fuel Cell Branch of the National Power Battery Innovation Center, the chairman unit of the Fuel Cell Branch of China Automotive Power Battery Industry Innovation Alliance, the Shanghai Fuel Cell Technology Innovation Center, and the Shanghai Fuel Cell Manufacturing Innovation Center. REFIRE is the first company in the industry to comprehensively realize the independent development and mass production of fuel cell systems, stacks, membrane electrodes, bipolar plates. REFIRE's products and technologies have been widely used in diversified fields such as road transportation, rail transportation, construction machinery, power generation, off-grid supercharging, and green hydrogen production, and it has developed a “electricity-hydrogen-electricity” business model for the construction of an energy ecosystem. As of December 31, 2024, REFIRE has cumulatively shipped 8,700 sets of fuel cell systems, deployed more than 6,100 fuel cell vehicles in the vehicle field, and the cumulative mileage of vehicles equipped with fuel cell systems has exceeded 270,000,000 kilometers, helping to reduce carbon emissions by more than 150,000 tons.