Interim Results Meeting Successfully Convened, and High-quality Development Makes Steady Progress: 2023 Interim Results Meetings of BJ ENERGY INTL Held in Hong Kong

On September 5, 2023, Beijing Energy International held three 2023 interim results meetings in Hong Kong online and offline. Zhang Ping, chairman of the Board of Directors of Beijing Energy International, Liu Dongsheng, senior vice president, and Huang Hui, chief financial officer attended the meeting. Over 50 well-known domestic and foreign investment bank analysts and institutional investors including Garden Stage, Zhongtai Financial International, CMB International, Haitong, Huasheng Securities and Guotai Junan Securities attended the meetings.

At the meetings, Zhang Ping introduced the strategic layout of the company. The company adheres to the development route of “integrating reserve bases, synergized development and international expansion, refines the development path of its 14th Five-Year Plan, optimizes the business development layout in line with the objective of “dual-circle, one-center and one-focus”, continuously increases the intensity of market-oriented development, constantly consolidates and enhances the scale effect of its main business, and efficiently transforms the resources of its reserve projects, actively explores strategic emerging business such as energy storage, hydrogen, digital computing power, etc., intensifies its business layout and hones its professional capabilities under the concept of innovative, coordinating, green, open and sharing, and strives to become a first-class international clean energy provider, green investor and operator.

Huang Hui presented the company’s interim results in 2023 to the attendees. He said that in recent years, the company’s revenue has increased significantly, and a satisfactory level profitability has been achieved through cost control. In the first half of 2023, the revenue reached 2,574 million yuan, and the net profit was 247 million yuan. Concurrently, the company optimized its capital structure and improved its assets and liabilities. By the end of June 2023, the total assets had increased to 68.726 billion yuan, up 8.398 billion yuan compared with the year beginning. Huang Hui also responded to investors’ concern about the decline in profits in this period. He said that the decline was mainly because the company focused on its main business and continued to expand the scale of high-quality business segment. The overall average financing scale of the company increased remarkedly compared with the same period of last year. Additionally, the investment cycle of new energy industry is often long and it is difficult to harvest returns in the short term.

Liu Dongsheng introduced the company’s future development advantages and future growth strategy. He said that China’s renewable energy has developed rapidly in the past ten years and predicted that the domestic and foreign renewable energy markets still have great development potential in the future. The future growth strategy of Beijing Energy International is to ramp up the market layout, accelerate the development of energy base projects, foster industrial strategic coordination, closely follow the spot trading of electrical power and deploy the incubation of technological innovation.

As is expected for the meetings, the management of the company lively interacted and fully exchanged with analysts, fund brokers, stock critics and senior executives of securities firms, and conducted in-depth communication on the company’s development and financial statements.