REFIRE (02570) plans to make an additional investment of 70 million yuan to reshape Seraph.

REFIRE (02570) announced that at the board meeting held on August 8, 2025, the board decided to increase the registered capital of CECEP Solar Energy Reshaping from RMB 30 million to RMB 100 million. The company will propose to make an additional investment of RMB 70 million in cash. CECEP Solar Energy Reshaping is mainly engaged in the development of CECEP Solar Energy electricity generation technology services and emerging energy technology. CECEP Solar Energy Reshaping is responsible for the development of the hydrogen energy market in northwest China and the implementation of the integrated project of solar mountain green hydrogen production, storage, and transmission in Ningxia, China ("Solar Mountain Project"). As of the date of this announcement, CECEP Solar Energy Reshaping is wholly owned by New Honey Reshaping, which is equally owned by the company and New Honey Green Energy. After the proposed additional investment is completed, CECEP Solar Energy Reshaping will be owned by the company and New Honey Reshaping by 70% and 30% respectively, and CECEP Solar Energy Reshaping will become a subsidiary of the company, and its financial performance will be consolidated in the company's financial statements.