On August 8, 2025, Shanghai REFIRE Group Limited shook up China’s clean energy scene with a bold, RMB 170 million (about USD 23.4 million) double acquisition. The first snagged a 30.30% stake in Guangdong Enze Hydrogen—a name you might recognize from its ties to Cummins. The second deal gave REFIRE a 70% controlling interest in Seraph (Sailafu) REFIRE, the company powering Ningxia’s standout...