Core Viewpoint - Beijing Energy International (00686) has entered into an underwriting agreement with China Merchants Securities and other underwriters for the issuance of its notes, indicating a strategic move to raise capital through debt instruments [1] Group 1: Underwriting Agreement - The company appointed China Merchants Securities and other underwriters as the lead underwriters for its issued or to-be-issued notes, with specific terms to be agreed upon for each batch of notes [1] - The company issued notifications to China Merchants Securities on September 10, 2025, and October 17, 2025, appointing them as the lead underwriters for the third and fifth batches of notes, respectively [1] Group 2: Issuance Details - The third batch of notes has a principal amount of 1 billion yuan, fully underwritten by China Merchants Securities [1] - The fifth batch of notes has a total principal amount of 1.5 billion yuan, with China Merchants Securities underwriting 1.05 billion yuan [1]