O’Melveny Represents Leading Hydrogen Technology Company, REFIRE, in Approximately US$91 Million Hong Kong IPO

FOR IMMEDIATE RELEASE

HONG KONG— DECEMBER 6, 2024— O’Melveny represented Shanghai REFIRE Group Limited (2570.HK) on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange. The offering size was approximately HK$709 million (approximately US$91 million). Assuming full exercise of the over-allotment option, the offering size will be approximately HK$780 million (approximately US$100 million). O’Melveny advised REFIRE on both Hong Kong and U.S. laws.

REFIRE is a leading hydrogen technology company in China, focusing on the design, development, manufacture, and sales of hydrogen fuel cell systems, hydrogen production systems and related components. According to Frost & Sullivan, REFIRE ranked the first in the hydrogen fuel cell system market in China in terms of the sales power output of hydrogen fuel cell systems that have been used for heavy-duty trucks in 2022 and 2023. It has made significant strides in a range of fuel cell applications, including commercial vehicles, construction machinery, power generation stations, and off-grid charging equipment. REFIRE’s international footprint spans several key markets, including Germany, Japan, and Canada.

CICC was the sole sponsor for the offering, and CICC, CMB International, and BNP Paribas were the joint overall coordinators.

The O’Melveny core team was led by corporate partners Ke Zhu and Ke Geng, and included counsel Vincent Wang and Yazhe Liu, associates Penny Chen, Sean Sy and Keren He, legal consultant Ruidian Xian, and trainee solicitor Ella Li. Trainee solicitors Norman Luk and Priscilla Yeung also provided valuable assistance.

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Contact:

Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024
bjacobsen@omm.com

Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000
cschob@omm.com

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