Time flows forward, and with it, the promise of renewal. As we stand in the first light of 2026, we look back not just on time passed, but on a legacy of resilience we have built together. Our journey thus far fuels our passion for the grand horizons that now await us.
On behalf of the management team of Beijing Energy International, I extend my profound gratitude and heartiest New Year wishes to our shareholders for their enduring trust, to our colleagues for their relentless dedication, and to the families whose quiet support makes our collective success possible.
“Integration” of Strength — Creating Brilliance Together
Much like the ocean grows through every contributing stream, the company has flourished over the last six years as a nexus for talent and ambition. By bridging diverse expertise and navigating the tides of restructuring and integration, we have carved a unique and indelible mark on the industry.
Across the frozen frontiers of the north and the boundless sands of the gobi; beneath the towering snow-capped plateaus and onto the vibrant soils of nations far and wide—our people have advanced with the unyielding momentum of a wildfire. We have sown the seeds of clean energy across the earth, transforming individual efforts into a brilliant galaxy that now brings light to millions of homes. These achievements are far more than medals earned through toil; they are lasting monuments built upon our sacred sense of purpose.
(Image: data infographic)
As of the end of December 2025, Beijing Energy International
“Integration” of Momentum — Embarking on a New Journey
With favorable winds filling our sails and the horizon clearing for a grand ascent, Beijing Energy International is moving with purpose and precision. We remain acutely attuned to national policy, anchoring our social responsibility in serving the capital city, optimizing our asset portfolio, and fortifying our resilience against various risks. As we embark on the “15th Five-Year Plan” era, our development roadmap is definitive: We are centering our efforts on Beijing while pioneering a dual-track model of light and heavy assets. We are prioritizing major energy projects such as “Jilin-to-Beijing Power Transmission Project” and “Inner Mongolia-to-Beijing Power Transmission Project”. We are leveraging high-consumption, high-return projects in key regions—including the Yangtze River Delta, the Pearl River Delta, and the Chengdu-Chongqing economic circle—as our primary growth levers. Our focus remains on the seamless synergy of wind, solar, hydro, and gas turbine, while aggressively paving the way for emerging industries like green hydrogen.
Driven by our deep expertise in high-tier asset development, we are redefining our role as professional managers, value discoverers, and industry integrators in the clean energy space. Through strategic asset rotation and operational excellence, we are committed to driving superior financial performance, maximizing shareholder returns, and amplifying our long-term investment profile.
“Integration” of Internal and External Resources — Value Co-Creation
Commanding wind and solar across the horizon, we are accelerating our operational pivot to global markets. We are unlocking the full financial potential of our energy assets. By proactively leveraging the low-interest-rate environment, we are engaging with financial investors to pioneer a light-asset model. Our focus has shifted from merely “controlling” installed capacity to “managing” it, utilizing an “off-balance-sheet ownership, on-balance-sheet management” framework. By synchronizing asset-level agility with equity-level capital maneuvers, we have successfully pivoted from being a capital-heavy asset holder to a sophisticated, professional asset manager.
Through operational excellence, we have streamlined our domestic and overseas capital pools, aligned our debt maturity with our long-term and short-term asset profiles to maximize capital efficiency. Through diversified financing channels, we have significantly optimized our financial health, achieving a notable 80-basis-point reduction in overall financing costs. Building on our legacy as the issuer of China’s first public PV REIT, we again broke new ground with the first-ever expansion issuance of a combined “PV + Hydropower” portfolio. This has created a virtuous “develop-operate-securitize” value chain, cementing our ability to deliver durable, long-term value to our shareholders.
“Integration” Toward the Future — United for the Long Journey Ahead
While a solitary vessel may struggle against the tide, a united fleet riding the current moves with unstoppable force. The company has established a cultural governance system centered on “Integration”, shaping a mission of “Better Energy at Fingertips” and a vision of “Becoming the Most Respected International Clean Energy Ecological Investment Operator”. Through cultural cohesion, we gather strength. Our greatest asset is our dedicated people. Our journey—from embedding the “Integration” philosophy into our DNA to earning the prestigious National First Prize for Corporate Culture—has culminated in a shared home defined by “Everyone Is Sincere, Everything Is Transparent” and “Try Our Best for Every Possibility”. Your brilliance and dedication, and your perseverance and passion have ensured that our motto—“Capability Propels Forward, Integration Broadens Horizons”—is not just words on a wall, but the living pulse of our organization.
Reflecting on the past, we see a path etched with steady progress. Looking ahead, we remain committed to making “Better Energy at Fingertips”. We know that staying in sync with the times and moving in harmony with the nation is the foundation of our enduring success.
Guided by an unwavering purpose, we embrace the next frontier. With our original aspirations as firm as rock and our mission held close, we will steadfastly practice green and low-carbon principles, explore transformative development models, and refine asset quality to forge a sustainable tomorrow through unity and endeavor.
A new chapter begins; a grander vision unfolds. To our partners and colleagues: I wish you a year of fulfillment, health, and shared prosperity. May the coming year bring you peace, abundance, and success in every horizon you pursue.
