Hong Kong Stock Exchange · Industrials
Invest in Shanghai REFIRE stock from India
Indian and foreign residents can buy Shanghai REFIRE (2570) shares directly through Paasa.
By Paasa · Updated
Shanghai REFIRE at a glance
- Price
- HK$6.01-HK$0.97 (13.85%)
- Market cap
- HK$532.90M
- Day range
- HK$6.01 – HK$7.01
- P/E
- -0.75
- Dividend yield
- None
- Volume
- 187.50K
- 1 month
- -58.04%
- 6 months
- -84.95%
- YTD
- -90.73%
- 1 year
- -96.24%
- 5 years
- -95.92%
Shanghai REFIRE statements, FY2021–FY2025
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | CN¥579.8M | CN¥648.8M | CN¥895.3M | CN¥604.6M | CN¥524.1M |
| Gross profit | CN¥66.9M | CN¥111.8M | CN¥179.6M | CN¥49.8M | CN¥61.8M |
| Operating income | −CN¥357.5M | −CN¥670.0M | −CN¥475.7M | −CN¥458.2M | −CN¥445.6M |
| Net income | −CN¥587.2M | −CN¥737.3M | −CN¥529.5M | −CN¥506.0M | −CN¥572.8M |
| Earnings per share | −CN¥6.80 | −CN¥9.03 | −CN¥6.15 | −CN¥5.87 | −CN¥6.65 |
| EBITDA | −CN¥416.2M | −CN¥600.1M | −CN¥411.2M | −CN¥390.1M | −CN¥513.8M |
| Total assets | CN¥4.3B | CN¥4.7B | CN¥4.0B | CN¥4.1B | CN¥2.5B |
| Total debt | CN¥1.5B | CN¥1.6B | CN¥1.4B | CN¥1.1B | CN¥1.1B |
| Cash and short-term investments | CN¥536.7M | CN¥974.4M | CN¥664.5M | CN¥1.5B | CN¥276.2M |
| Shareholders' equity | CN¥1.8B | CN¥2.0B | CN¥1.8B | CN¥2.3B | CN¥566.0M |
| Operating cash flow | −CN¥201.6M | −CN¥393.2M | −CN¥718.4M | −CN¥728.1M | −CN¥768.2M |
| Free cash flow | −CN¥467.1M | −CN¥454.9M | −CN¥862.5M | −CN¥854.6M | −CN¥934.8M |
| Capital expenditure | −CN¥265.5M | −CN¥61.7M | −CN¥144.1M | −CN¥126.5M | −CN¥166.6M |
Fiscal years as reported, the latest ending 31 Dec 2025. Figures in CNY; a dash means the provider reported nothing for that line.
Peer comparison
| Company | Ticker | Price | Market cap |
|---|---|---|---|
| Kinetic Development | 1277.HK | HK$1.91 | HK$16.38B |
| CIMC Enric | 3899.HK | HK$7.12 | HK$15.03B |
| Shougang Fushan Resources | 0639.HK | HK$2.70 | HK$13.72B |
| United Energy | 0467.HK | HK$0.42 | HK$10.67B |
| Sinopec Kantons | 0934.HK | HK$3.64 | HK$9.05B |
| Mongolian Mining | 0975.HK | HK$8.37 | HK$8.65B |
| Shandong Molong Petroleum Machinery | 0568.HK | HK$3.59 | HK$5.35B |
| China Qinfa | 0866.HK | HK$2.01 | HK$5.28B |
Peers as grouped by the data provider. This is not an investment recommendation.
How to invest in Shanghai REFIRE from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit, and Interactive Brokers converts the dollars to HKD when you buy.
Step 3
Search 2570 and buy
Find Shanghai REFIRE by name or by its ticker, 2570, and place your order. Many Hong Kong listings trade in board lots, so the smallest order is one lot rather than one share.
Why invest in Shanghai REFIRE from India
What Shanghai REFIRE does
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. Shanghai REFIRE operates in the Industrial - Machinery industry within the Industrials sector.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Frequently asked questions
Can I buy Shanghai REFIRE stock from India?
Yes. Indian residents and NRIs can buy Shanghai REFIRE (2570) shares directly through Paasa. Shanghai REFIRE is listed on the Hong Kong Stock Exchange, in the Industrial - Machinery industry. Your money leaves India under the RBI's Liberalised Remittance Scheme and the shares are held in your own name at Interactive Brokers.
Do I need to buy a full Shanghai REFIRE share?
Usually more than one, and not a fraction: many Hong Kong listings trade in board lots, so the smallest order is one lot rather than one share. At HK$6.01 a share, size the order by the lot, not by the share.
How are Shanghai REFIRE dividends taxed for Indian investors?
Shanghai REFIRE trades on the Hong Kong Stock Exchange but is domiciled in China, so any withholding on its dividends follows that country's rules rather than those of Hong Kong. Dividends are taxed at your slab rate in India. Paasa's dividend report shows the gross amount and any tax withheld for each payment.
What tax do I pay in India when I sell Shanghai REFIRE shares?
Hong Kong generally does not levy capital gains tax on non-resident individual investors for HKEX-listed stocks. In India, gains on shares held for more than 24 months are long-term and taxed at 12.5%, and gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the HKD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.