According to the Futu Finance app, on August 29th, Beijing Energy International (00686) held its 2024 mid-term performance exchange meeting in Hong Kong, attracting the attention and participation of many well-known domestic and foreign investment bank analysts and institutional investors. Zhang Ping, chairman of Jingneng International, Liu Dongsheng, senior vice president, and Huang Hui, chief financial officer, attended the meeting to introduce the company's business development to investors.

At the exchange meeting, Zhang Ping, chairman of the board, stated that since the restructuring in 2020, Jingneng International has continuously improved the quality of its assets and vigorously expanded its business scale, embarking on a fast track of development. As of June 30th this year, the "Double Thousand" target has been completed ahead of schedule, and Jingneng International has achieved a total of CNY 101.8 billion in assets at home and abroad, an increase of approximately 48% compared to the same period last year; the installed capacity of on-grid power generation at home and abroad has reached 10.045 million kilowatts, an increase of approximately 47.5% compared to the same period last year, opening a new chapter of high-quality development.

Among them, the company actively expands the global market, especially in Australia. As of the first half of 2024, the company's installed capacity of on-grid power generation in Australia has reached 312 megawatts.

In terms of project reserves, the company has sufficient reserves in domestic projects, with first-level reserve projects reaching 4.8 gigawatts and second-level reserve projects reaching 59 gigawatts; overseas locked reserve projects total 4 gigawatts, and the company plans to acquire local electricity sales companies in Australia, aiming to become a leading power company in the Australian market.

Chief Financial Officer Huang Hui reported on the company's performance for the mid-term of 2024. In recent years, the company's revenue has shown significant growth. As of the first half of 2024, operating revenue reached CNY 3.272 billion, an increase of approximately 27% compared to the same period last year. EBITDA rose from CNY 2.129 billion to CNY 2.686 billion, a year-on-year increase of approximately 26%. As of the first half of 2024, the company achieved a net profit of CNY 0.292 billion, an increase of approximately 18% compared to the same period last year, mainly due to an increase in electricity sales.

Senior Vice President Liu Dongsheng introduced the future development opportunities of the company at the meeting. The National Energy Administration predicts that China will add approximately 0.2 billion kilowatts of wind and photovoltaic installed capacity by 2024, further demonstrating the importance of renewable energy in future energy strategies. In Australia, the local government has introduced multiple favorable policies for the new energy industry, promoting the further release of potential in the Australian new energy market.

In the future, the company will adhere to a strategic pattern of focusing on the main business while promoting diversified synergies. It will actively accelerate the deployment of intelligent computing business in regions such as Beijing-Tianjin-Hebei and Inner Mongolia, and will intensify efforts in the development of comprehensive energy projects involving gas, heating and cooling, and electricity. Meanwhile, the company will also focus on overseas business, with a strong emphasis on expanding into the Australian market and actively pursuing solar energy projects in Canada. In the future, BJ Energy International will continue to deepen the layout of various sectors and promote the sustainable development of its business, making greater contributions to the global energy transformation.