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Shanghai REFIRE Group Ltd logo

Shanghai REFIRE Group Ltd

2570.HK

HKSEIndustrialsIndustrial - Machinery

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Latest quote

HK$13.91

−HK$2.17 · -13.50%

Aug 24, 4:08 PM HKT

2570.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Shanghai REFIRE Group Ltd is a Chinese enterprise dedicated to the research, development, manufacturing, and commercialization of hydrogen fuel cell systems, hydrogen production systems, and their related components. The company's business activities are categorized into several key areas: the sale of hydrogen fuel cell systems and components, the provision of engineering and technical services for fuel cells, and the sales of hydrogen production systems and their associated parts. Its primary offerings include electrolysis-based systems and critical components for converting electricity into hydrogen, as well as hydrogen fuel cell systems and essential parts for generating electricity from hydrogen. These advanced solutions are deployed worldwide, providing comprehensive hydrogen technology across various sectors such as commercial vehicles, power generation facilities, construction equipment, and hydrogen production.

Industry
Industrial - Machinery
Sector
Industrials
Headquarters
CN
CEO
Qi Lin
Listed since
Dec 6, 2024
Employees
400

Market position

52-week range

Current HK$13.91

Open
HK$13.91
Previous close
HK$16.08
Volume
0
0× average
Average volume
620.17K
Average daily volume
Market cap
1.23B HKD
Beta
1.36
Market reference 1
50-day average
HK$20.5142
-32.19% below average
200-day average
HK$50.4119
-72.41% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
5.99B CNY
P/E (TTM)
-1.75×
P/B (TTM)
0.57×
P/S (TTM)
1.83×
EV / EBITDA
-14.39×
Earnings yield
-11.68%
Free cash flow yield
-9.29%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
11.54%
Operating margin
-61.66%
Net margin
-101.28%
Return on equity
-32.65%
Return on assets
-13.74%
Return on invested capital
-10.98%

Financial health

Debt / equity
0.82×
Current ratio
1.34×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends33%-20%-74%-127%Gross margin, FY2021: 11.79%Gross margin, FY2022: 8.24%Gross margin, FY2023: 20.06%Gross margin, FY2024: 17.23%Gross margin, FY2025: 11.54%Operating margin, FY2021: -85.02%Operating margin, FY2022: -75.78%Operating margin, FY2023: -53.13%Operating margin, FY2024: -103.27%Operating margin, FY2025: -61.66%Net margin, FY2021: -109.29%Net margin, FY2022: -83.68%Net margin, FY2023: -59.14%Net margin, FY2024: -113.65%Net margin, FY2025: -101.28%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 11.79%. Gross margin FY2022 8.24%. Gross margin FY2023 20.06%. Gross margin FY2024 17.23%. Gross margin FY2025 11.54%. Operating margin FY2021 -85.02%. Operating margin FY2022 -75.78%. Operating margin FY2023 -53.13%. Operating margin FY2024 -103.27%. Operating margin FY2025 -61.66%. Net margin FY2021 -109.29%. Net margin FY2022 -83.68%. Net margin FY2023 -59.14%. Net margin FY2024 -113.65%. Net margin FY2025 -101.28%.

Income trends

Revenue

579.78M CNY-10.63%

Operating income

−357.47M CNY+46.65%

Net income

−587.23M CNY+20.35%
Income trends across reported periods1.06B CNY405.5M CNY−247.53M CNY−900.56M CNYRevenue, FY2021: 524.11M CNYRevenue, FY2022: 604.65M CNYRevenue, FY2023: 895.28M CNYRevenue, FY2024: 648.78M CNYRevenue, FY2025: 579.78M CNYOperating income, FY2021: −445.61M CNYOperating income, FY2022: −458.18M CNYOperating income, FY2023: −475.66M CNYOperating income, FY2024: −670M CNYOperating income, FY2025: −357.47M CNYNet income, FY2021: −572.8M CNYNet income, FY2022: −505.97M CNYNet income, FY2023: −529.47M CNYNet income, FY2024: −737.3M CNYNet income, FY2025: −587.23M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 524.11M CNY. Revenue FY2022 604.65M CNY. Revenue FY2023 895.28M CNY. Revenue FY2024 648.78M CNY. Revenue FY2025 579.78M CNY. Operating income FY2021 −445.61M CNY. Operating income FY2022 −458.18M CNY. Operating income FY2023 −475.66M CNY. Operating income FY2024 −670M CNY. Operating income FY2025 −357.47M CNY. Net income FY2021 −572.8M CNY. Net income FY2022 −505.97M CNY. Net income FY2023 −529.47M CNY. Net income FY2024 −737.3M CNY. Net income FY2025 −587.23M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue579.78M CNY648.78M CNY895.28M CNY604.65M CNY524.11M CNY
Cost of goods sold512.86M CNY537.01M CNY715.66M CNY554.82M CNY462.32M CNY
Gross profit66.92M CNY111.77M CNY179.62M CNY49.82M CNY61.79M CNY
Research and development124.51M CNY219.37M CNY220.88M CNY198.33M CNY230.89M CNY
Selling, general, and administrative299.87M CNY594.37M CNY474.5M CNY114.97M CNY118.42M CNY
Operating expenses424.39M CNY781.77M CNY655.27M CNY508.01M CNY507.39M CNY
Interest income13.35M CNY6.1M CNY16.17M CNY18.02M CNY7.47M CNY
Interest expense58.37M CNY57.17M CNY47.93M CNY49.02M CNY50.06M CNY
Depreciation and amortization137.02M CNY122.31M CNY120.62M CNY106.37M CNY86.47M CNY
Operating income−357.47M CNY−670M CNY−475.66M CNY−458.18M CNY−445.61M CNY
Net income−587.23M CNY−737.3M CNY−529.47M CNY−505.97M CNY−572.8M CNY

Company facts updated Aug 24, 2026.

Earnings

Latest fiscal-year EPS
-6.8
FY2025
Latest fiscal-year revenue
579.78M CNY
FY2025 · -10.63% year over year

Annual EPS trend

Reported history and fiscal-year consensus

ReportedConsensus forecast
Annual EPS trend-5.55-6.82-8.08-9.35FY21FY22FY23FY24FY25

Annual revenue trend

Reported history and fiscal-year consensus

ReportedConsensus forecast
Annual revenue trend932.39M783.93M635.46M486.99MFY21FY22FY23FY24FY25

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ETFs holding 2570.HK

Funds reporting this stock among their holdings, ordered by reported position size.

Global X - Hydrogen ETF logoGlobal X - Hydrogen ETFHYDR
Market value
1.06M
Weight
1.03%
AUM
102.86M USD
Expense ratio
0.50%
Price / 1D
$42.2827-1.67%

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