HK Stock Market Move | REFIRE (02570) plummeted over 20%, hitting a new low since its listing. It will officially be removed from the Hong Kong Stock Connect list starting today.

REFIRE (02570) opened significantly lower today and continued to decline. As of the time of writing, it has dropped by 24.13%, trading at HKD 10.63, with a turnover of HKD 3.1316 million. During the day, it hit a low of HKD 10.46, setting a new record low since its listing. On the news front, according to an announcement from the Shanghai and Shenzhen Stock Exchanges, REFIRE has been removed from the list of eligible securities for the Stock Connect program, effective September 7. After this removal, Stock Connect investors will only be able to sell but not buy. It is reported that REFIRE is a leading company in hydrogen fuel cell systems in China. Its mid-year results for 2026 show that total revenue for the first half of this year was approximately RMB 105 million, a year-on-year decrease of about 1.8%; the loss attributable to shareholders was approximately RMB 271.5 million, narrowing by about 18.4% year-on-year.