香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：686） 截至二零二三年六月三十日止六個月之 中期業績公告 北京能源國際控股有限公司（「本公司」）之董事會（「董事會」或「董事」）宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月（「本期間」）之 未經審核簡明綜合中期業績，連同二零二二年同期之比較數字。簡明綜合中期財務 資料乃根據香港會計準則第34號「中期財務報告」編製。 管理層討論與分析 業務回顧 投資地點和投資組合多元化 於本期間，本集團致力成為全球領先的生態發展解決方案供應商，主要從事發電站 及其他清潔能源項目的開發、投資、營運及管理。 – 1 – 發電站項目 本集團加快清潔能源規模化擴充的發展步伐，積極通過自主開發及併購拓展太陽 能、風力及水力發電業務的管理規模，同時也不斷提升對清潔能源發電業務的管理 水平。於二零二三年六月三十日，本集團擁有113個（二零二二年十二月三十一日： ...

Installed Capacity and Electricity Generation - Total grid-connected installed capacity reached 5,827.24MW, with 107 solar power plants and 21 wind power plants as of December 31, 2022[3] - Total electricity generation volume for 2022 was approximately 7,228,582MWh[3] - The company's clean energy installed capacity, including controlled and entitled, reached approximately 12GW[16] - Green electricity production for the year reached approximately 7,228,582MWh[16] - The company's overseas installed capacity in operation exceeded 600MW, with reserve capacity reaching 1.6GW[11] - Wind power installed capacity in operation exceeded 1GW, and a 1GW hydropower project agreement was reached[13] - The Group had 105 solar power plants and 20 wind power plants with a total grid-connected installed capacity of approximately 5,603.44MW as of 31 December 2022, compared to 97 solar and 7 wind power plants with 4,168.02MW in 2021[85] - The Group diversified its solar and wind power plants across 23 provinces in China, with one wind power plant located in Vietnam[85] - The Group held 2 solar power plants and 1 wind power plant through its associates, with a total grid-connected installed capacity of approximately 223.80MW as of 31 December 2022[85] - The company increased its total grid-connected installed capacity from 4,168.02 MW in 2021 to 5,603.44 MW in 2022, a growth of approximately 34.4%[89] - The number of solar power plants increased from 97 in 2021 to 105 in 2022, while wind power plants grew from 7 to 20 during the same period[89] - Total electricity generation surged by approximately 84%, from 3,879,751 MWh in 2021 to 7,141,204 MWh in 2022[93] - Solar power generation increased from 3,797,021 MWh in 2021 to 5,974,027 MWh in 2022, while wind power generation jumped from 82,730 MWh to 1,167,177 MWh[94] - Total grid-connected installed capacity reached 5,827.24 MW, with electricity generation volume of 7,228,582 MWh in 2022[99] - The company operates 107 power plants, including 90 solar and 20 wind power plants across multiple regions in China and Vietnam[98][99] - The company's largest solar power plant is located in Hebei, China, with 1,278.35 MW capacity and 1,465,937 MWh generation in 2022[98] - Wind power plants generated 1,086,544 MWh in Inner Mongolia, China, with 805 MW capacity and RMB 732 million revenue[98] - The company expanded its operations to Vietnam with a 46.20 MW solar power plant[98] - Total revenue from power plants held by associates reached RMB 80 million, with an average tariff of RMB 0.91 per kWh[99] Financial Performance - Total assets increased by 34.44% from 2021 to 2022, reaching RMB 5,603.44 million[7] - Revenue for 2022 reached approximately RMB4,115 million, with a net profit of approximately RMB472 million[16] - Total assets amounted to approximately RMB60,328 million, with grid-connected installed capacity of 5.8GW[16] - Net profit for the year was approximately RMB472 million, a decrease from RMB650 million in 2021[105] - Revenue and EBITDA for the year were approximately RMB4,115 million and RMB3,500 million, respectively, up from RMB2,825 million and RMB2,397 million in 2021[105] - Grid-connected installed capacity increased by 34.4% from 4,168.02MW to 5,603.44MW[105] - Total finance costs increased by 36.4% from RMB1,110 million in 2021 to RMB1,514 million[105] - The average tariff per kWh (net of VAT) decreased to RMB0.58 from RMB0.73 in 2021[105] - The Group's EBITDA margin remained stable at approximately 85% for both 2022 and 2021, driven by steady power generation operations[121] - The debt to EBITDA ratio decreased to approximately 10.3 in 2022 from 11.1 in 2021, reflecting improved debt repayment capacity[121] - The funds from operations to net debt ratio increased slightly to approximately 5.8% in 2022 from 5.7% in 2021, indicating better debt servicing ability[121] - The interest coverage ratio decreased to approximately 2.49 in 2022 from 2.74 in 2021, showing a slight decline in interest payment capacity[121] - The Group's total bank and other borrowings amounted to RMB 43,790 million as of 31 December 2022, with RMB 14,205 million due within one year[120] - Current assets as of 31 December 2022 were approximately RMB18,865 million, while current liabilities were approximately RMB18,610 million[122] - Total borrowings and convertible bonds increased to RMB44,145 million in 2022, up from RMB32,385 million in 2021[124] - Net debts rose to RMB36,122 million in 2022, compared to RMB26,541 million in 2021[124] - The gearing ratio increased to 78.0% in 2022 from 74.1% in 2021, primarily due to increased bank borrowings for power plant construction[124][125] - Cash deposits totaled RMB8,023 million as of 31 December 2022, with RMB6,032 million denominated in RMB and RMB1,654 million in USD[126][128] - Capital commitments for property, plant, and equipment amounted to approximately RMB3,975 million as of 31 December 2022[130] - The company's total employee benefits expenses (excluding share-based payment expenses) for the year amounted to approximately RMB 351 million, compared to RMB 201 million in 2021[138] - The company had 1,011 full-time employees as of December 31, 2022, an increase from 752 employees in the previous year[142] - Total employee benefits expenses (excluding share-based payments) amounted to approximately RMB 351 million in 2022, compared to RMB 201 million in 2021[142] Strategic Development and Future Plans - The company aims to build the most efficient and advanced clean energy operation and maintenance platform[4] - Future strategy includes accelerating the construction of a clean energy industrial ecosystem dominated by green energy, complemented by multiple energy sources and characterized by smart collaboration[5] - The company plans to focus on rapid quality development and adhere to the development concept of "focusing on main business, national layout, and worldwide development"[5] - The company plans to accelerate the construction of large-scale wind and solar power bases in desert, Gobi, and barren areas, focusing on regions like Inner Mongolia, Xinjiang, and Hebei[30] - The company will promote distributed photovoltaic and wind power projects in rural areas and industrial parks, supporting green micro-grids and integrated energy projects[22] - The company aims to increase the proportion of new energy power used by end-users through direct power supply pilot projects and green power trading[24] - The company will focus on multi-energy integration and industrial-financial integration, investing in shared energy storage and green ammonia sectors[29] - The company expects China's wind and solar power new installed capacity to reach 160 GW in 2023, a year-on-year increase of over 33%[27] - The company will improve its technological investment and digital transformation speed, focusing on industrial synergies and competitive advantages[29] - The company will leverage national policies to optimize land use for new energy projects and integrate spatial information into national land planning[25] - The company plans to increase its energy storage development scale by more than 1GWh in key regions such as Jiangsu, Zhejiang, and Guangdong[36] - The company is accelerating the preliminary work of its wind and solar energy storage and hydrogen-produced green ammonia project in Duolun[36] - The company aims to expand its green ammonia project layout in Ulanqab, Inner Mongolia, leveraging local wind and solar resources, water resources, and transportation conditions[36] - The company is accelerating digital transformation by building a basic framework for digital management and control, integrating internal information resources, and promoting data sharing and analysis[37] - The company is focusing on transforming from a heavy-asset new energy operation enterprise to a value-oriented new energy asset investment management company, exploring asset-light operation paths[39] - The company is raising equity funds through multiple channels, including transforming illiquid new energy heavy assets into liquid financial assets and promoting the issuance of ABS and ABCP with renewable energy subsidies[41] - The company is focusing on overseas markets in Australia and Vietnam, aiming to achieve in-depth development and integrate overseas assets for independent listing[33] - The company is strengthening its construction capacity to ensure projects commence operation as scheduled, with a focus on improving the professional capabilities of its engineering construction team[34] - The company is accelerating the implementation of its existing reserve projects in Beijing, including exploring "photovoltaic + smart agriculture" industrial integration projects[32] - The company is transitioning from direct ownership of energy assets to managing them, enhancing asset liquidity and integrating production with financial services[42] - The company is accelerating research on spot power trading, aiming to improve market-oriented trading strategies at the provincial level to maintain a top-tier position in the region[43] - The company is focusing on developing a carbon asset management system, including CCER pilot projects and professional training to maximize carbon asset returns[44] - The company is investing in advanced technologies such as energy storage, hydrogen energy, and multi-energy complementation to create new profit growth points[45] - The company is exploring industrial synergy models, including high-end manufacturing and cultural tourism, to replicate successful cooperation frameworks[47] - The company is optimizing its corporate structure to improve complex situation management and strengthen project development, construction, and operation oversight[48] - The company is strengthening compliance and risk management, embedding risk control into all business aspects and incorporating risk management results into performance evaluations[49] - The company is enhancing investor relations by improving information disclosure quality and communication channels to protect investor rights and increase shareholder returns[52] - The company achieved its development goals in 2022 and views 2023 as a critical window for rapid growth, leveraging China's post-pandemic economic recovery and high-quality development[53] - The company's 59.95MW distributed photovoltaic carport project in Jiangxi Nanchang commenced full-capacity grid-connected power generation, marking the largest single distributed photovoltaic project in China[57] - The company's 1,000MW wind power project in Kezuo Houqi, Tongliao, and 1,380MW wind power project in Horqin District, Tongliao, were approved, achieving breakthroughs in wind power base projects[57] - The company's 112MW agricultural-photovoltaic complementary power generation project in Qixia City, Shandong, officially commenced grid connection[57] - The company's 100MW photovoltaic project in Aodu, Inner Mongolia, commenced full-capacity grid-connected power generation[58] - The company successfully issued ABCP for the securitization of its first group of subsidized photovoltaic assets, revitalizing RMB1 billion in subsidized assets[59] - The company completed its first "Green Power into Beijing" transaction, achieving a breakthrough[60] - The company's total electricity generation volume for 2022 was 7,228,582 MWh, equivalent to reducing 3,614 tons of soot, 217,000 tons of sulfur dioxide, and 6,014,000 tons of carbon dioxide emissions[62] - The company saved 2,204,000 tons of standard coal and provided electricity equivalent to the annual consumption of 4,819,000 households in 2022[61] - The Chinese government is committed to achieving "carbon peak and carbon neutrality" goals, emphasizing green and low-carbon energy development[153] - The company will focus on accelerating the construction of a new power system dominated by new energy to achieve high-quality energy development[153] - The first batch of large-scale wind and photovoltaic power generation bases, with a total capacity of 97.05 million kilowatts, have all commenced construction in 2022[154][155] - China aims to increase its wind and photovoltaic power generation capacity to reach 160 million kilowatts by 2023, resulting in an aggregated installed capacity of over 900 million kilowatts[154][155] - The company plans to achieve a clean energy installed capacity of over 10 million kilowatts by the end of 2023[157][158] - The company will refine its "dual-circle, one-center and one-focus" development strategy and focus on industry synergy and green energy conversion and consumption[157][158] - The company aims to optimize its organizational management and control structures and achieve a strategic transformation of its operational model[157][158] - The company aims to build a clean energy industrial ecosystem dominated by green energy, complemented by multiple energy sources, and characterized by smart collaboration, providing global energy users with full lifecycle services[165] - The company focuses on the national strategic goals of "carbon peak and carbon neutrality," transitioning from a pure production model to a service pricing model with maximum energy value[165] - The company emphasizes ecological construction and aims to achieve symbiosis with energy value, serving the better life of people worldwide[165] Corporate Governance and Board Structure - The Board is responsible for formulating overall strategies and policies, focusing on the growth and financial performance of the Group, and making decisions on significant acquisitions[166][167] - The Board has delegated certain functions to committees such as the Audit Committee, Remuneration Committee, Nomination Committee, and Risk Control Committee[170] - The Board approves the Group's strategic plans, annual operation and investment plans, and major investments and transactions[171] - The Board reviews and approves the annual budget, financial plan, and the selection and appointment of the external auditor[171] - The Board considers the appointment of Directors and approves the remuneration policy and incentive schemes[171] - The Board establishes and maintains risk management and internal control systems, ensuring compliance with legal and regulatory requirements[171] - The Board currently comprises nine Directors, including two executive Directors, four non-executive Directors, and three independent non-executive Directors[172] - The Board consists of nine Directors, with three being independent non-executive Directors, representing one-third of the Board, in compliance with Listing Rules 3.10(1) and 3.10A[178][183] - The Company has received annual written confirmations of independence from each independent non-executive Director, ensuring compliance with Listing Rule 3.13[179] - The Chairman and Chief Executive Officer positions are held by Mr. Zhang Ping and Mr. Zhu Jun respectively, with the Chairman responsible for leadership and governance, and the CEO overseeing business activities[176][177] - The Nomination Committee assesses the independence of new independent non-executive Director candidates and their contribution to Board diversity before appointment[184] - Independent non-executive Directors are not granted equity-based remuneration with performance-related elements[186] - Directors with a material interest in a contract or arrangement are prohibited from voting or being counted in the quorum for related Board resolutions[186] - The Chairman meets annually with independent non-executive Directors without the presence of executive and non-executive Directors[186] - The Company follows a formal procedure for appointing new Directors, with the Nomination Committee identifying qualified individuals and making recommendations to the Board[187] - One-third of the Directors are subject to retirement by rotation at least once every three years, with the number nearest to but not less than one-third retiring at each AGM[188][189] - Non-executive Directors, including independent non-executive Directors, are appointed for a specific term of one year, subject to retirement and re-appointment provisions[188][189] - During 2022, several Directors retired and were re-elected, including Mr. Wang Heng and Mr. Su Yongjian at the SGM on 15 June 2022, and Mr. Zhang Ping, Mr. Lu Zhenwei, and Ms. Jin Xinbin at the AGM on 28 June 2022[190] - Newly appointed Directors in 2022, including Mr. Wang Heng, Mr. Su Yongjian, and Mr. Lu Xiaoyu, received induction briefings and handbooks covering laws, regulations, and company policies[191][193] - The company arranged professional training for Directors in 2022, emphasizing the importance of continuous professional development and knowledge refreshment[192][193] - The Board has established committees including the Audit Committee, Remuneration Committee, Nomination Committee, and Risk Control Committee, with terms of reference reviewed periodically to align with Listing Rules requirements[200] Acquisitions and Investments - The company completed the acquisition of Shuozhou Wind Energy, Xiyang New Energy, Xiyang Wind Energy, and Youyu Wind Energy for a total consideration of approximately RMB 1,448 million, with grid-connected installed capacities of 100MW, 200MW, 30MW (3 plants), and 99.5MW respectively[131] - The company acquired Fengtai Shengyang for approximately RMB 412 million, which operates a solar power plant with a grid-connected installed capacity of 150MW[131] - The company's subsidiary in Vietnam acquired Cuu An JSC for an adjusted cash consideration of approximately VND 729,010.7 million (equivalent to RMB 215 million) and contingent consideration of approximately VND 71,749.5 million (equivalent to RMB 21 million), with a grid-connected installed capacity of 46.2MW[132][133] - The company completed acquisitions of certain subsidiaries in China with an aggregate grid-connected installed capacity of 306.86MW, none of which were individually material[133][135] - The company holds development rights for over 5 GW of hydropower projects, with 75% ownership in the project company[90] - The company owns development rights for hydropower projects with an expected capacity of over 5GW, holding 75% equity interest in the project companies[87] - The Group focuses on strategic development, construction, and acquisition of power plants based on factors like solar irradiation, wind velocity, government subsidies, and local grid conditions[86] - The Group plans to diversify its clean energy portfolios, focusing on solar and wind power in the short term while supplementing multi-type energy supply in the long term[87] Risk Management and Compliance - The company is strengthening compliance and risk management, embedding risk control into all business aspects and incorporating risk management results into performance evaluations[49] - The Group faced a compensation claim of approximately RMB 216 million for alleged non-compliance issues at a solar power station in Inner Mongolia, with provisions of RMB 35 million and RMB 25 million made for compensation and tariff subsidy receivables impairment, respectively[114] - The company had no significant contingent liabilities as of 31 December 2022[140] - The company recognized an

Power Generation Capacity - The total installed capacity of solar power stations increased to approximately 4,842.44 MW, with a total generation of about 5,974,027 MWh, reflecting an increase in utilization hours to 1,353[6]. - The total installed capacity of wind power stations reached 761.00 MW, generating approximately 1,167,177 MWh, with an average utilization of 2,560 hours[6]. - The overall power generation increased significantly from approximately 3,879,751 MWh to about 7,141,204 MWh, marking an increase of approximately 84%[5]. - The installed capacity of grid-connected projects increased from approximately 4,168.02 MW to 5,603.44 MW, a growth of about 34.4%[12]. - The total number of solar power stations increased to 105 and wind power stations to 20, with a total installed capacity of approximately 5,603.44 MW[16]. Financial Performance - The company recorded a net profit of approximately RMB 472 million for the year ending December 31, 2022, down from RMB 650 million in the previous year[12]. - Revenue and EBITDA for the year were approximately RMB 4,115 million and RMB 3,500 million, respectively, representing increases of 45.5% and 46.3% compared to RMB 2,825 million and RMB 2,397 million in the previous year[12]. - The company’s electricity sales reached RMB 1,800 million in 2022, compared to RMB 922 million in 2021, marking a growth of 95.5%[44]. - The company reported a basic and diluted earnings per share of RMB 1.20 for 2022, down from RMB 2.51 in 2021[45]. - The total revenue from power generation reached RMB 4,073 million, with a total generation of 7,082,274 MWh from 90 solar and 20 wind power stations[8]. Strategic Focus and Development - The company has a strategic focus on developing and acquiring power stations to achieve predetermined minimum return rates, considering local solar and wind conditions, applicable feed-in tariffs, and government subsidies[3]. - The company aims to diversify its clean energy portfolio while focusing on solar and wind power development in the short term[4]. - The company aims to achieve over 10 million kilowatts of clean energy installed capacity by the end of 2023 as part of its strategic transformation[43]. - The company is actively seeking suitable investment opportunities to improve future financial performance and profitability[33]. - The company plans to actively engage in the mid-term adjustments of the "14th Five-Year Plan" to enhance its development strategy[43]. Financing and Capital Structure - Total financing costs rose by approximately 36.4% to RMB 1,514 million from RMB 1,110 million in the previous year, attributed to an increase in average bank and other borrowings[14]. - The capital structure showed a capital debt ratio of 78.0% as of December 31, 2022, up from 74.1% the previous year, primarily due to increased borrowings for power station construction[27][28]. - Total borrowings and convertible bonds amounted to RMB 44,145 million, with net debt at RMB 36,122 million after accounting for cash deposits[27]. - The company successfully issued a three-year convertible bond amounting to USD 50 million (approximately RMB 320 million) with a coupon rate of 3.8%[10]. - The company is actively seeking financing opportunities to reduce capital costs and improve liquidity[22]. Asset Management - As of December 31, 2022, the group recorded current assets of approximately RMB 18,865 million and current liabilities of approximately RMB 18,610 million, indicating a healthy liquidity position[26]. - Non-current assets increased to RMB 41,463 million in 2022 from RMB 30,488 million in 2021, reflecting a growth of 36.0%[48]. - Total assets increased to RMB 60,328 million, up from RMB 46,159 million, representing a growth of 30.7% year-over-year[51]. - The company invested RMB 3,176 million in non-current assets, including property, plant, and equipment, during the year[66]. - The company’s total accounts receivable aged over 365 days decreased to RMB 10 million in 2022 from RMB 33 million in 2021[86]. Compliance and Governance - The company has maintained compliance with all applicable corporate governance codes during the year[100]. - The audit committee consists of three members, including two independent non-executive directors, ensuring oversight of financial reporting and audit processes[101]. - The board believes this expansion will complement the existing clean energy power station portfolio and generate greater returns for shareholders[97]. - The company emphasizes high standards of corporate governance to enhance sustainable development and protect shareholder interests[100]. - The company will publish its annual report and ESG report on the Hong Kong Stock Exchange and its website at an appropriate time[105]. Customer Relations and Revenue Sources - The group has a significant reliance on major customers, with receivables from State Grid Corporation and Inner Mongolia Power Group accounting for approximately 73.50% and 25.80% of total receivables, respectively[34]. - The company reported significant contributions from three major customers, with Customer A contributing RMB 655 million, Customer B RMB 493 million, and Customer C RMB 465 million to total revenue[74]. - The group received approximately RMB 1,771 million in electricity price subsidies during the year, with expectations for improved collection of overdue subsidies due to upcoming national policy developments[21]. - The total amount of electricity price subsidy receivables increased to RMB 7,969 million in 2022 from RMB 7,287 million in 2021, reflecting a growth of about 9%[83]. - The company recognized an impairment expense of approximately RMB 25 million for electricity price subsidy receivables in 2022, compared to none in 2021[84].

Power Generation Capacity and Operations - As of June 30, 2022, the Group operated 97 solar power plants and 7 wind power plants, with a total grid-connected installed capacity of approximately 4,583.39 MW, an increase from approximately 4,168.02 MW as of December 31, 2021[10]. - The total electricity generated by the Group's power plants increased significantly from approximately 1,744,946 MWh for the six months ended June 30, 2021, to approximately 3,322,474 MWh, representing a growth of approximately 90.4%[19]. - The Group holds development rights for hydropower projects with an expected capacity of over 5 GW, with 75% equity interest indirectly held by the Company[12]. - The Group has diversified its solar and wind power plants across 21 different provinces in China as of June 30, 2022[10]. - The Group's clean energy projects are primarily located in the People's Republic of China, with all power plants grid-connected and generating electricity steadily[10]. Financial Performance - Revenue for the Period was approximately RMB 1,985 million, an increase of around 51.3% from RMB 1,310 million for the same period in 2021[40]. - EBITDA for the Period was approximately RMB 1,679 million, reflecting a growth of approximately 48.4% compared to RMB 1,131 million in the previous year[40]. - The company recorded a net profit of approximately RMB 286 million for the six months ended June 30, 2022, compared to RMB 361 million for the same period in 2021[35]. - Profit for the period decreased to RMB 286 million, down 20.8% from RMB 361 million in the same period of 2021[133]. - Earnings per share for equity holders of the Company was RMB 0.81, compared to RMB 1.65 in 2021, reflecting a decline of 50.91%[133]. Debt and Financing - The effective interest rate for bank and other borrowings as of June 30, 2022, was approximately 4.15%, down from 4.40% at the end of 2021[33]. - The company has been exploring various financing channels to enhance its financing capability and reduce finance costs[33]. - Total borrowings as of June 30, 2022, amounted to approximately RMB 36,056 million, with a significant portion maturing within one year[56]. - The Group's net debts rose to RMB 30,906 million as of June 30, 2022, compared to RMB 26,541 million as of December 31, 2021[72]. - The company intends to improve its debt structure by introducing equity capital, promoting the issuance of new energy REITs, and expanding fundraising arrangements during the "14th Five-Year Plan" period[118][121]. Operational Strategy and Future Plans - The Group aims to achieve a predetermined minimal rate of return by strategically selecting power plants based on various factors including solar irradiation and wind velocity[11]. - The Group plans to focus on the development of solar and wind power businesses in the short term while diversifying its clean energy portfolios for long-term energy supply[18]. - The company aims to leverage its capital advantages to accelerate the development of key base projects, including "Mongolia Electricity into Beijing" and "Jilin Electricity into Beijing" to support long-term growth[112][115]. - The company will actively cultivate customer markets and explore integrated energy development modes, particularly in the capital market and projects outside Beijing[120][122]. - The company plans to develop a technology innovation incubator to enhance its market value by investing in advanced technologies such as hydrogen energy and energy storage[124][127]. Market and Industry Context - The new energy industry is experiencing a historic opportunity period, with significant changes in development patterns and investment concepts, particularly in the context of "carbon peak and carbon neutrality" goals[107]. - The state is promoting large-scale projects exceeding expectations, all of which are ten million kilowatt projects[107]. - The tightening of project land standards is limiting future development space, especially in central and eastern regions[107]. - The Group recognizes the promising prospects of the new energy industry amid a trend towards green energy and low-carbon development[126]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 49,772 million, an increase of 7.0% from RMB 46,159 million at the end of 2021[139]. - Total liabilities increased to RMB 40,592 million as of June 30, 2022, up from RMB 36,875 million at December 31, 2021, representing an increase of 19%[141]. - Current liabilities rose to RMB 14,817 million, a 31% increase from RMB 11,323 million at the end of 2021[141]. - Non-current liabilities totaled RMB 25,775 million, slightly up from RMB 25,552 million, indicating a 1% increase[141]. Employee and Customer Relations - Total employee benefits expenses for the period amounted to approximately RMB 161 million, an increase from approximately RMB 74 million for the same period in 2021[91]. - Key customers, State Grid and Inner Mongolia Power, accounted for approximately 77.6% and 22.0% of total trade receivables, respectively[84][87]. Accounting and Financial Reporting - The financial information has been prepared under the historical cost convention, with modifications for the revaluation of financial assets and liabilities at fair value through profit or loss[163]. - The adoption of amended HKFRSs has had no material impact on the results and financial position for the current and prior periods[165]. - Management has made significant judgments and estimates that affect the application of accounting policies and reported amounts of assets and liabilities, income, and expenses[177].

Renewable Energy Capacity and Production - As of December 31, 2021, the Group owned 97 solar power plants and 7 wind power plants with an aggregate installed capacity of approximately 4,168.02 MW, generating approximately 3,879,751 MWh of green electricity for the entire year[4] - The aggregated installed capacity of clean energy controlled by the company was approximately 12GW, and the green electricity produced throughout the year reached approximately 3,879,751 MWh[9] - The total installed capacity increased from approximately 2,070.40 MW to approximately 4,168.02 MW, representing a growth of around 101.3% through acquisitions and self-development[81] - The Group's electricity generation from solar power plants was approximately 3,797,021 MWh, while wind power plants contributed approximately 82,730 MWh in 2021[67] - The Group increased its total electricity generation from approximately 2,795,834 MWh in 2020 to approximately 3,879,751 MWh in 2021, representing a growth of approximately 38.8%[65] Financial Performance - In 2021, Beijing Energy International Holding Co., Ltd. recorded revenue of approximately RMB 2,825 million and profit of approximately RMB 650 million, with total assets amounting to approximately RMB 46,159 million[9] - Revenue for the year was approximately RMB 2,825 million, an increase from approximately RMB 2,149 million in the previous year, reflecting a growth of around 31.3%[79] - The net profit for the year was approximately RMB 650 million, a significant increase from RMB 262 million in the previous year[81] - EBITDA for the year was approximately RMB 2,397 million, compared to approximately RMB 1,967 million in the previous year, indicating an increase of about 21.9%[79] - The effective interest rate for bank and other borrowings decreased to approximately 4.40% as of December 31, 2021, down from approximately 4.70% the previous year[74] Strategic Development and Goals - The Company aims to build the most efficient and advanced renewable energy operation and maintenance platform, focusing on low-carbon and sustainable development models[4] - The Company plans to accelerate the construction of a clean energy industrial ecosystem dominated by green energy, complemented by multiple energy sources and characterized by smart collaboration[4] - The future strategy includes seizing opportunities from transformational changes in the international energy industry, adhering to a development concept of "focusing on main business, national layout, developing worldwide"[4] - The company aims to achieve carbon peak and carbon neutrality while building a new power system, focusing on innovative development and investment[15] - The company is committed to maximizing shareholder value while striving to become a first-class international clean energy ecological investment operator[4] Market Trends and Industry Insights - The installed capacity of renewable energy in China exceeded 1,000GW by the end of 2021, including approximately 330GW of wind power generation and approximately 310GW of photovoltaic power generation[11] - The renewable energy industry in China is entering a new era, characterized by increasing industrial concentration and stronger bargaining power for leading companies[15] - The trend of industrial chain integration is evident, with downstream investments extending to large-capacity wind turbines, high-efficiency components, energy storage, and hydrogen energy[16] - Energy storage is expected to experience explosive growth in the next decade, becoming a crucial support for new power system construction[14] - The transformation of global energy consumption is accelerating towards clean, low-carbon, and diversified patterns, with significant growth in new energy segments such as solar and wind power[123] Corporate Governance and Management - The Company has established a high standard of corporate governance, complying with all applicable code provisions under the CG Code for the year ended December 31, 2021[133] - The Board of Directors consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors, ensuring a balanced composition with diverse perspectives[148] - The Company emphasizes accountability and integrity in its corporate governance framework, which is regularly reviewed to meet the needs of the Company[142] - The Chief Executive Officer and senior management are responsible for the day-to-day operations of the Group, under the supervision of the Board[142] - The management team is composed of professionals with advanced degrees and extensive industry experience, contributing to informed decision-making[45] Environmental and Social Responsibility - The focus on building a green ecosphere aims to bring clean energy into millions of families, reflecting the Company's commitment to social responsibility[4] - The company saved 1.183 million tons of standard coal through its green energy initiatives[32] - The company planted approximately 17.639 million trees as part of its environmental efforts[32] - The Company has made significant efforts in green and low-carbon development, aiming to adapt to the energy transition[131] - The energy revolution in China is expected to promote natural capital investments and green low-carbon transformation as new pillars of economic growth[130] Investment and Financing Activities - The company will intensify equity financing efforts to reduce the asset-liability ratio and optimize project financing structures to lower interest rates[22] - The company successfully implemented equity financing of RMB 3 billion in 2021[27] - The company issued US$50 million in 3.8% convertible bonds due in 2024[27] - The net proceeds from the convertible bonds issuance were approximately US$49 million, with allocations for offshore debt repayment, offshore projects, and general working capital[77] - The Group raised RMB3,000 million through a capital increase agreement with ICBC Investment, allowing for debt repayment and reducing reliance on financial support[75] Future Outlook and Strategic Initiatives - The company aims to enhance its integrated energy development by focusing on "big cities, large parks, and large enterprises," with key investment directions in energy storage and charging solutions[19] - The company plans to strengthen strategic cooperation with advanced agriculture, high-efficiency components, energy storage, and hydrogen energy enterprises to enhance its industrial ecology[20] - The company will accelerate digital transformation by enhancing independent research and development of applied scientific and technological innovations and building a big data energy service platform[22] - The Group is focusing on the development of solar and wind power businesses in the short term while diversifying its renewable energy portfolio for long-term energy supply[61] - The Group anticipates that the energy storage market will continue to grow, driven by the need for flexibility in power systems to support low-carbon and efficient energy development[128]

熊貓綠色能源集團有限公司 （於百慕達註冊成立之有限公司） 香港股份代號：00686 信 0 二零一九年年報 目錄 2 目錄 2 致投資者信 6 公司概況 7 公司資料 8 董事及高層管理人員之簡歷 14 2019年大事件 16 2019年獎項 18 投資者關係 19 管理層討論與分析 32 企業管治報告 57 董事會報告 78 獨立核數師報告 84 綜合損益表 86 綜合全面收益表 87 綜合財務狀況表 89 綜合權益變動表 90 綜合現金流量表 92 財務報表附註 191 五年財務概要 192 投資者參考資料 致 投資者信 2 熊貓綠色能源集團有限公司 | 2019年年報 致投資者信 尊敬的投資者們： 2019年是全球能源變革持續深化之年，全球能源供需格局進入深刻調整階段，高效、清潔、多元化成為未來發 展的主要特徵，全球可再生能源投資持續增長。同樣，中國清潔低碳、安全高效的能源體系不斷向縱深推進， 能源結構持續優化，可再生能源清潔替代作用日益突顯，成為中國未來能源高質量發展的重要突破點。中國國 家能源局統計數據顯示，2019年年末，中國可再生能源發電裝機達到794吉瓦（「吉瓦」），同比增長約9%，約 佔全部 ...

熊貓綠色能源集團有限公司 香港股份代號：00686 二零一八年 年報 共同建設綠色家園， 讓熊貓的微笑走遍 世界各地！ Contents 目錄 | 2 | 致投資者信 | | --- | --- | | 6 | 公司概況 | | 7 | 公司資料 | | 8 | 董事及高層管理人員之簡歷 | | 12 | 2018年大事件 | | 14 | 2018年獎項 | | 18 | 投資者關係 | | 19 | 管理層討論與分析 | | 29 | 企業管治報告 | | 55 | 董事會報告 | | 74 | 獨立核數師報告 | | 82 | 綜合損益表 | | 83 | 綜合全面收益表 | | 84 | 綜合財務狀況表 | | 86 | 綜合權益變動表 | | 87 | 綜合現金流量表 | | 88 | 財務報表附註 | | 175 | 五年財務概要 | | 176 | 投資者參考資料 | 熊貓綠色能源集團有限公司 | 2018年年報 1 2 2 熊貓綠色能源集團有限公司 | 2018年年報 致投資者信 尊敬的投資者們： 2018年是全球經濟格局變動的轉折之年，也是中國經濟轉 型升級的關鍵之年；是全球能源變革的深化之 ...