Group 1: Electricity Pricing and Market Dynamics - The electricity sales model for the Croatian Sene Wind Power Project is market-based through the Croatian Electricity Exchange, with seasonal price variations observed [1] - Average electricity prices have decreased due to lower demand in winter but have risen to approximately €100/MWh as summer demand increases [1] Group 2: Clean Energy Investment Strategy - North International aims to develop clean energy projects in Central and Eastern Europe, leveraging the demonstration effect of the Croatian Sene Wind Power Project [1] - The EU's 2030 renewable energy target is set at a legally binding minimum of 42.5%, with current renewable energy share at 22.1%, indicating significant growth potential [1] Group 3: Global Clean Energy Expansion Plans - The company views foreign investment in clean energy as a key driver for transformation and high-quality development, actively seeking opportunities outside Europe [2] - In Southeast Asia, particularly Indonesia, the company is exploring investments in waste-to-energy and geothermal projects, benefiting from a supportive regulatory environment [2] - In Africa, particularly in the Democratic Republic of the Congo, the company is addressing power supply challenges in mining areas by exploring clean energy projects [2] Group 4: Market Development in Mongolia - Mongolia is identified as a key market for long-term development, with a focus on clean energy projects to enhance economic cooperation with China [3] - North International plans to leverage its integrated service capabilities in mining and infrastructure to develop projects in Mongolia, including clean energy initiatives [3]

Summary of the Conference Call for Northern International Company Overview - Northern International is a state-controlled company under the Armament Group, with over 20 years of experience as a publicly listed entity. The company has historically focused on international engineering business but is currently undergoing a transformation and upgrade, which is beginning to yield results in 2022 and 2023 [2][10]. Key Projects and Developments Mongolia Project - The Mongolia project involves a comprehensive arrangement from mining to transportation, customs clearance, and domestic sales. This project has been operational since 2019 or 2018 and has started generating significant revenue post-pandemic [2][3]. - A three-year mining agreement with TT Mine was renewed in June 2023, with a total value of $640 million. Northern International's wholly-owned subsidiary, Beishan Company, is responsible for providing mining services under this agreement [3][19]. - The trade segment, primarily focused on coking coal, has shown growth compared to the previous year, with expectations for continued growth in 2024 [12][14]. Croatia Wind Power Project - The wind power project in Croatia was completed in 2022 and has been generating considerable revenue. The project is currently stable, although it is affected by fluctuations in wind and electricity prices. The average electricity price is expected to be around €0.10 per kWh for the year [7][31]. Laos and Bangladesh Projects - The Laos South Pai Hydropower Station has been operating smoothly since its completion in 2017. The Bangladesh coal-fired power plant project, with a total investment of $2.5 billion, is expected to complete its EPC construction in 2024 and enter the operational phase [8][9]. EPC Business Expansion - The international engineering business is expanding positively, with new contracts signed in Uzbekistan and Southeast Asia, including photovoltaic projects and transmission stations [9][10]. Financial Performance - The integrated business model in Mongolia generated over ¥7 billion in revenue last year, accounting for one-third of the company's total revenue and over half of its profits [6][10]. - The trading volume for the first half of 2024 is projected to reach 2 to 3 million tons, with expectations for steady growth in future years [16][18]. Market and Political Environment - The company views its relationship with Mongolia as stable and beneficial for long-term strategic development, despite the country's internal political fluctuations. The cooperation with China is seen as crucial for Mongolia's economic development [28][30]. Future Outlook - Northern International aims to continue expanding its international engineering and investment operations, focusing on renewable energy and resource acquisition. The company is exploring various business models for resource acquisition, including service agreements and joint ventures [48][57]. - The company is also looking to enhance its asset securitization rate and improve its financial performance metrics, with expectations for double-digit growth in profits [60][63]. Additional Insights - The company emphasizes its unique position as the only publicly listed entity under the Armament Group, which provides it with significant advantages in international markets [47][51]. - The management is optimistic about the future, citing a strong pipeline of projects and a commitment to sustainable growth in the renewable energy sector [39][40].

Group 1: Mongolia Mining Integration Project - The Mongolia mining integration project is aligned with the "Belt and Road" initiative, providing comprehensive solutions for Mongolia's mining development [1] - The project includes various segments such as mining, coal transportation, road construction, customs storage, and coal trading [1] - Mongolia is a key node in the "Belt and Road" initiative, with rich mineral resources and significant economic growth potential [1] Group 2: Bangladesh Power Plant Project - The 2X660MW coal-fired power plant project in Bangladesh is progressing as planned, expected to be completed in the second half of 2024 [2] - The total investment for the project is approximately $2.5 billion, with 30% as equity capital shared equally between the company and its partner [2] - The company has already invested about $300 million in the project, with an additional $80 million required [2] Group 3: Financial Health and Capital Expenditure - The company is undergoing a transformation, facing some capital expenditure pressures due to ongoing projects [2] - The current asset-liability ratio is manageable, and the company has strong debt repayment capabilities [2] - A reasonable financial plan will be established to ensure financial stability and risk resilience [2] Group 4: Strategic Positioning - The company is positioned as a key player in supporting the "Belt and Road" initiative, focusing on international operations and market expansion [3] - The company aims to enhance its capabilities in integrated services for mining and infrastructure projects [2]

2024 年第二季度可转债转股情况公告 证券简称：北方国际 证券代码：000065 公告编码：2024-034 转债简称：北方转债 转债代码：127014 北方国际合作股份有限公司 2024 年第二季度可转债转股情况公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 一、可转债发行上市基本情况 经中国证券监督管理委员会《关于核准北方国际合作股份有限公司公开发行 可转换公司债券的批复》（证监许可【2019】1444 号）核准，公司于 2019 年 10 月 24 日公开发行了 578.21 万张可转换公司债券，每张面值 100 元，发行总额 57,821.00 万元。 经深交所"深证上[2019]735 号"文同意，公司 57,821.00 万元可转换公司债 券于 2019 年 11 月 21 日起在深交所挂牌交易，债券简称"北方转债"，债券代码 "127014.SZ"。 根据《深圳证券交易所股票上市规则》等有关规定和《北方国际合作股份有 限公司公开发行可转换公司债券募集说明书》的约定，北方转债自 2020 年 4 月 2024 年第二季度可转债转 ...

Summary of the Conference Call for Northern International Company Overview - Northern International is a state-controlled company established in 1998 and listed in 2000, primarily engaged in international engineering business. The company has undergone a transformation from traditional EPC (Engineering, Procurement, and Construction) to investment-driven and integrated operations [6][4]. Key Business Segments 1. **International Engineering** - Involves four major sectors: railways, power, municipal engineering, and mining services. - Notable projects include: - Railway project in Pakistan in collaboration with China Railway [6]. - Power projects such as a €179 million wind power project in Croatia (76% ownership) and a $2.5 billion coal power project in Bangladesh, expected to be operational in 2024 [7][8]. 2. **Commodity Trading** - The company has a significant focus on coal trading, particularly from Mongolia, which constitutes about two-thirds of its trading business. The trading model includes mining service fees and logistics [15][12]. - The gross margin for commodity trading is approximately 9.47%, while international engineering contracts yield a gross margin of 5.6% [12][13]. 3. **Mining Services** - Involves construction and operational support for gold and copper mines in Nigeria and the Democratic Republic of Congo, with a focus on long-term contracts [23][24]. Market Trends and Strategic Focus - The company is capitalizing on the "Belt and Road" initiative, which has led to increased overseas orders and growth in international engineering projects [4]. - There is a strategic shift towards clean energy investments and expanding into emerging markets, particularly in Southeast Asia and Central Asia [8][9]. Financial Performance Insights - The revenue breakdown indicates that engineering accounts for about 35% of total revenue, while commodity trading accounts for approximately 50% [12]. - The company is focused on improving cash flow and profitability through strategic investments and operational efficiency [44][46]. Future Outlook - Northern International plans to continue expanding its investment in clean energy and infrastructure projects, with a focus on enhancing operational capabilities and exploring new markets [11][30]. - The company aims to increase its dividend payout in the future as cash flow improves, although current pressures from ongoing investments limit immediate increases [42][46]. Risks and Considerations - The company faces risks related to market fluctuations in commodity prices, particularly coal, which can impact profitability [17][18]. - Operational challenges in project execution and geopolitical factors in regions like the Middle East may affect business performance [39][40]. Conclusion - Northern International is positioned for growth through its diversified business model and strategic focus on international projects and clean energy. The company is actively exploring new opportunities while managing risks associated with market volatility and operational challenges [4][11][30].

Summary of Conference Call Company/Industry Involved - The conference call pertains to Guotai Junan Donation Coupons, specifically for clients who have officially signed up for the service [1] Core Points and Arguments - The content of the conference call is intended solely for internal learning purposes for Guotai Junan clients and is not to be disseminated externally without prior approval from Guotai Junan Research Institute [1] - Guotai Junan has not authorized any media to forward the content related to this conference call [1] Other Important but Possibly Overlooked Content - The audio and text records of the conference call are strictly for the use of Guotai Junan clients, emphasizing the confidentiality and proprietary nature of the information shared [1]

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 关于"北方转债"恢复转股的公告 特别提示： 证券简称：北方国际 证券代码：000065 公告编码：2024-033 转债简称：北方转债 转债代码：127014 债券代码：127014 北方国际合作股份有限公司 关于"北方转债"恢复转股的公告 恢复转股时间：自 2024 年 6 月 21 日起恢复转股 北方国际合作股份有限公司（以下简称"公司"）因实施公司 2023 年度权益 分派，根据《北方国际合作股份有限公司公开发行可转换公司债券募集说明书》 及相关规定，公司可转换公司债券（债券简称：北方转债；债券代码：127014） 自 2024 年 6 月 13 日起暂停转股。根据规定，北方转债将在本次权益分派股权登 记日后的第一个交易日（即 2024 年 6 月 21 日）恢复转股。敬请公司可转换公司 债券持有人注意。 特此公告。 北方国际合作股份有限公司董事会 二〇二四年六月十九日 债券简称：北方转债 ...

转债简称：北方转债 转债代码：127014 股票简称：北方国际 股票代码：000065 公告编号：2024-032 北方国际合作股份有限公司 关于"北方转债"转股价格调整的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 北方转债调整前的转股价格：人民币 7.74 元/股 北方转债调整后的转股价格：人民币 7.65 元/股 北方转债本次转股价格调整实施日期：2024 年 6 月 21 日 送红股或转增股本：P1=P0/（1+n）； 经中国证券监督管理委员会《关于核准北方国际合作股份有限公司公开发行 可转换公司债券的批复》（证监许可【2019】1444 号）核准，北方国际合作股份 有限公司（以下简称"公司"）于 2019 年 10 月 24 日公开发行了 578.21 万张可转 换公司债券（债券简称：北方转债，债券代码：127014）。 根据《北方国际合作股份有限公司公开发行可转换公司债券募集说明书》中 的规定，在本次发行之后，当公司因送红股、转增股本、增发新股（不包括因本 次发行的可转换公司债券转股而增加的股本）、配股或派发现金股利等情况使公 ...

股票简称：北方国际 股票代码：000065 公告编号：2024-031 转债简称：北方转债 转债代码：127014 2023 年度权益分派实施公告 北方国际合作股份有限公司 2023 年度权益分派实施公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 北方国际合作股份有限公司 2023 年度权益分派方案已获 2024 年 4 月 23 日 召开的 2023 年年度股东大会审议通过，现将权益分派事宜公告如下： 一、股东大会审议通过权益分派方案等情况 1、北方国际合作股份有限公司（以下简称"公司"）2023年度利润分配方案 已于2024年4月23日经公司2023年年度股东大会审议通过。公司2023年度利润分 配方案拟定为以2024年3月28日的股本总数1,002,018,034股为基数，向全体股东 每10股派发现金红利0.92元（含税），预计共分配股利92,185,659.13元。董事会审 议利润分配方案后股本发生变动的，公司将以最新股本总额为利润分配的股本基 数，并根据"现金分红总金额不变"的原则，对实施方案进行相应调整。 2、因公司可转换公司债券（债券简称： ...

关于实施权益分派期间"北方转债"暂停转股的公告 证券简称：北方国际 证券代码：000065 公告编码：2024-030 转债简称：北方转债 转债代码：127014 北方国际合作股份有限公司 关于实施权益分派期间"北方转债"暂停转股的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 债券代码：127014 债券简称：北方转债 转股起止时间：2020 年 4 月 30 日至 2025 年 10 月 23 日 暂停转股时间：2024 年 6 月 13 日 恢复转股时间：2023 年度权益分派股权登记日后的第一个交易日 特此公告。 北方国际合作股份有限公司董事会 二〇二四年六月十二日 关于实施权益分派期间"北方转债"暂停转股的公告 附件：《北方国际合作股份有限公司公开发行可转换公司债券募集说明书》 中"转股价格的调整方式"条款的规定 在本次发行之后，当公司因送红股、转增股本、增发新股（不包括因本次发 行的可转换公司债券转股而增加的股本）、配股或派发现金股利等情况使公司股 份发生变化时，将按下述公式进行转股价格的调整（保留小数点后两位，最后一 位四舍五入 ...