On March 14, 2024, Shanghai Refire Group Co., Ltd. (hereinafter referred to as “Reshape Energy”) announced that the company further appointed CMB International Finance Co., Ltd. and BNP Paribas Securities (Asia) Co., Ltd. as overall coordinators on March 13 and March 14, respectively.
Reshape Energy submitted a prospectus on the Hong Kong Stock Exchange on February 29, 2024. As of the announcement date, Reshape Energy has appointed CICC as its sole sponsor and overall coordinator, with CMB International and BNP Paribas as overall coordinators.
Reshape Energy, founded in 2015, is a leading hydrogen energy technology enterprise in China that is market-oriented and has a global perspective. It is committed to using hydrogen energy technology to create a sustainable future, focusing on the design, development, manufacture and sale of hydrogen fuel cell systems, hydrogen energy equipment and related components, and providing hydrogen fuel cell engineering development services. According to Frost & Sullivan's data, according to the total output power of hydrogen fuel cell systems sold for heavy trucks in 2022, Remodeling Energy ranked first in China's hydrogen fuel cell system market, with a market share of 25.9%. As of September 30, 2023, hydrogen fuel cell systems that reshape energy have powered more than 5,000 fuel cell vehicles in China, accumulated more than 160 million kilometers of safe driving range, and helped reduce carbon emissions by more than 90,000 tons, setting an industry-leading record.
According to the prospectus, in Reshaping Energy's pre-listing shareholder structure, Mr. Lin Qi directly and indirectly controlled about 21.95% of the shares; Sinopec (600028.SH,00386.HK) held 14.33% of the shares through Sinopec Capital; other investors include Chunyang Capital Entities, the National Manufacturing Fund, FAW Jiefang (000800.SZ), Yutong Bus (600066.SH), and Zhixin Investment, Qianshi Helun, Sequoia Han Chen, and Gao Lin Yurun.
Link to the Reshaping Energy prospectus:
