There was a bug that was fixed via HFix-9398 in 7.1.5 which related to inserting images into a PDF. Presumably the bug was fixed as part of the 7.1.6 release. I've looked, but cannot determine if the changes for that hotfix are present in 7.1.9. If you don't get an answer to that question on this post over the next day or so, I would raise an SR asking if the hotfix was ever migrated to 7.1.9.
The hfix-9398 is for the images that are already part of binary files are not visible in the pdf .But here the usecase is you want to know if it is possible to store the images in the shared path and can include the images in PDF by accessing the shared path link.