In present-day China, the cultivation and development of new productive forces is in full swing. Green development is the foundation of high-quality development, and new productive forces themselves are green productive forces. Actively developing clean energy is related to the overall economic and social development. In the exploration of global climate change and the strengthening of ecological civilization construction, and to promote the green and low-carbon transformation of the economy and society, our country's clean energy industry continues to move forward and the scale of development and utilization ranks among the top in the world. Exploring the path of high-quality development of clean energy, building a green and low-carbon circular economy, it is of great significance to actively and steadily promote carbon peak and carbon neutrality and build a beautiful China.

With a strong wind and a good sail, the time for advancement is now. Recently, Beijing Energy International (00686.HK) disclosed its performance announcement for the first half of 2024. The announcement shows that the company's total assets in the first half of 2024 were 101.802 billion yuan, an increase of 13% compared to the beginning of the year; the total installed capacity was 10.045 million kilowatts, an increase of 17% compared to the beginning of the year; the stage goal of "double thousand" was achieved; the operating income was 3.272 billion yuan, an increase of 27% compared to the same period last year; the total profit was 0.434 billion yuan, an increase of 27% compared to the same period last year; becoming the first asset platform within Beijing Energy Group with assets exceeding 100 billion yuan, and its overall strength has reached a new level.

Looking ahead for quality, taking strategic leadership for the overall situation.

Only new things can bring progress, only changes can make us stronger, and only wisdom can bring victory. In 2020, Beijing Energy International underwent restructuring, and the new leadership team showed wisdom, practical innovation, and achieved a turnaround in just one year. Over the past four years, the company has closely followed the trend of the times, insight into industry dynamics, with sharp insight and forward-thinking, constantly achieving strategic innovation and maintaining a high-quality development momentum.

Those who perceive the trend are wise, and those who master it are winners. In 2024, in order to achieve the corporate vision of being the "most respected international clean energy ecological investment and operation company", the company has reshaped its strategic development plan, promoted institutional and mechanism reforms, and explored a strategic development path of "dual-loop line, one center, one focus", forming a new pattern of coordinated development of six major business sectors: "energy + smart calculation" as the main business, with six major business sectors of photovoltaic, hydropower, integrated energy, gas turbine, green hydrogen, and smart calculation.

Improving quality with the "new", promoting diversified business formats and stimulating development.

With the goal of improving asset quality and economic efficiency, Beijing Energy International focuses on "reducing costs and increasing efficiency", and takes "focusing on core business, driving diversification, lean management, and innovation and efficiency" as the main line of work, promoting the coordinated layout of the six major business sectors and making breakthroughs in many key areas of work.

At the project development level, major bullish news has been received for the dual-loop line base projects. The "Northeast Songliao Clean Energy Base Power Transmission to North China Project" has been included in the plan, and the energy departments of Heilongjiang and Jilin provinces have both expressed support for Beijing Energy International to lead the green electricity entering Beijing project in the Northeast base; breakthroughs have been continuously made in the East China base project, with the East China branch obtaining 5.1GW of new energy capacity rights in the Yangtze River Delta region; the Southwest branch has obtained the construction indicators for a 1GW wind power project in Panzhou City, Guizhou Province, achieving significant breakthroughs in Beijing Energy International's layout in the new energy industry in Guizhou Province.

At the level of diversified business development, energy storage, lean-burn engine, green hydrogen, and intelligent computing are all flourishing, establishing differentiated competitive advantages. This opens up a new chapter in the synergy of 'energy + intelligent computing' development, and creates an important foundation for the innovative development of Beijing's digital economy. The production and production platform is gradually maturing. The self-designed and developed energy storage battery module of Zonergy has completed the certification of new national standards, marking that Jingneng International has the ability to independently develop energy storage products and system integration, and can meet the energy storage needs of regional project development. The Chongqing Dazu 2*500MW lean-burn engine power station project has been included in the '14th Five-Year Plan for Power Development in Chongqing', and it has the conditions to carry out preliminary work. It has reached a cooperation consensus with Zhangjiakou Xuanhua District Government and Hesteel Xuansteel to accelerate the implementation of the 'green hydrogen production, green hydrogen metallurgy' project, and jointly create a leading domestic and internationally first-class national demonstration project.

On the level of overseas business expansion, the company has become the largest new energy Chinese-funded enterprise in Australia, step by step to create a new profit growth pole. It is actively promoting the acquisition of a local Australian electricity sales company, which will open up market expectations for the company to join the ranks of the top-tier power companies in Australia and strive to achieve securitization of overseas assets. Broadening the global perspective, it strives to start the construction of a solar project in Canada next year, and uses this as a fulcrum to cultivate new growth poles outside of Australia, and to find new support points for the company's expansion into overseas markets.

Improve the company's capital structure with 'trust' and optimize the company's capital structure.

In 2023, the company achieved Fitch International credit rating of 'A' grade and S&P International credit rating of 'BBB+' grade. In 2024, it achieved a domestic credit rating of 'AAA' from United Credit Ratings and received an environmental, social, and governance (ESG) rating of '2' with a score of '78' from Fitch Ratings. This is the highest publicly available ESG rating in China by Fitch. The good credit qualifications have helped the company gain dual recognition from the capital market and financial regulatory authorities and the high-quality ESG rating fully demonstrates the company's confidence and determination to support the high-quality development of green low-carbon energy in the country. The offensive work has also made preliminary progress and has reached investment intentions with multiple companies. The company has issued a total of 5 billion yuan of Panda perpetual bonds in the interbank market and is promoting the issuance of an additional 5 billion yuan of perpetual bonds, striving to issue them in stages within 2024. The defect elimination work of Baoshan Energy Hydropower Station has been completed and the REITs of hydropower are being accelerated. It is further exploring high-quality photovoltaic power station projects, preparing for the next round of expansion plans, and continuously improving the degree of securitization of the company's assets. Make full use of the company's good reputation and development prospects in the industry, focus on docking with several domestic and foreign influential and strong intention units with a result-oriented approach, actively follow up with other potential investment companies, and continuously improve the rationality of the company's shareholder structure to truly reduce the cost of the company's equity capital.

Forge intellectual support for development with 'integration' and enhance the quality of development.

Those who are capable go far, those who are integrated achieve breadth. The company continues to promote institutional and mechanism reforms, and recruits high-precision talents in various segments of the market in response to the layout of multi-sector businesses. Continuously optimize talent allocation and adhere to systematically promote 'positive empowerment'; unleash the vitality of talents and aim at implementing results' injection of vitality'; seize talent cultivation to ensure that everyone is given full play to 'leveraging efficiency'.

The company inherits and renews its corporate culture, further sorts out and refines the excellent cultural genes of Jingneng International, and based on the present and facing the future, it forms a corporate culture with 'integrated culture' as the core. It takes as its pivot the growth and coexistence, responsibility and self-driving, frankness and clarity, hard work and enterprising, pursuit of excellence and openness and innovation, and uses culture to lead development, consolidate strength with culture, and create an internal driving force for sustainable development. It promotes high-quality development of the enterprise and makes beautiful energy within reach.

The glorious past has become history, and the brilliant present is extending. Jingneng International emphasizes that 'from the latter half of 2024, the company will continue to uphold its original entrepreneurial spirit, embrace change, continue to work hard, and adhere to high-quality development without wavering, and strive to maximize the company's value and shareholder interests.'