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Public company info - Beijing Energy International Holding Co. Ltd. , 00686.HK
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Beijing Energy International Holding Co. Ltd., 00686.HK - Company Profile
Chairman Zhang Ping
Share Issued (share) 22,428,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Alternative Energy
Corporate Profile Business Summary: The Group are principally engaged in the development, investment, operation and management of solar power plants and other renewable energy projects. Performance for the year: During the Year, the Group recorded a loss of approximately RMB3,495 million (31 December 2018: loss of approximately RMB454 million). During the Year, the revenue and EBITDA from the continuing operations were approximately RMB2,168 million and RMB1,920 million respectively (31 December 2018: approximately RMB2,023 million and RMB1,700 million respectively). Business Review： Diversification of Investment Locations and Portfolios During the year ended 31 December 2019 (the “Year”), the Group, as a leading global eco-development solutions provider, was principally engaged in the development, investment, operation and management of solar power plants and other renewable energy projects. Solar Power Plant Projects During the Year, the Group focused its resources on managing its existing solar power business. As at 31 December 2019, the Group and its associates had 61 (31 December 2018: 74) solar power plants with aggregate installed capacity of approximately 1,979.2 megawatts (“MW”) (31 December 2018: 2,329.6MW). As at 31 December 2019, all of the solar power plants were located in the People’s Republic of China (“PRC”). The Group has well-diversified its solar power plants in 18 different regions during the Year (31 December 2018: 18). Chart 1 analyses the locations of these solar power plants among various resource regions. This shows the Group’s efforts in mitigating concentration risks by diversification of location selection. Other Renewable Energy Projects The Group owned development rights mainly in hydropower with an expected capacity of over 5 gigawatts (“GW”). The Company indirectly holds 75% of the equity interest in the project companies while the remaining 25% is indirectly held by the People’s Government of Tibet Autonomous Region. The Group is awaiting for the planning of the PRC government’s ecological red line before the construction of any hydropower plants. Electricity Generation During the Year, the total electricity generated by the power plants from the continuing operations of the Group and its associates has slightly increased from approximately 3,109,894 MWh in 2018 to approximately 3,172,916 MWh, or by approximately 2.03%. All these power plants are grid-connected and are generating electricity steadily. Financing The power generation business is capital intensive in nature. The Group has been exploring various financing channels to enhance its financing capability and reduce its finance cost. During the Year, the Group has raised funds by means of equity financing and debt financing. As at 31 December 2019, the effective interest rate for bank and other borrowings was approximately 5.43% (31 December 2018: 5.31%). Prospects: Looking forward, full confidence. Despite of the uncertainties against the global economy, especially for the great challenge in short term, green and low-carbon are still the general trends of the new era, which continues to be the clear and obvious development direction in the future. After a series of changes, Panda Green will present its brand new profile to the Shareholders. BEH will committed to building Panda Green as a pilot platform for mixed ownership of state-owned enterprises after it becomes the major shareholder of Panda Green, thus to make it bigger, better, and stronger. Panda Green will also return to the essence of marketization and focus on its primary business as always, and dedicate to the goal of enhancing Shareholders’ benefits and value creation, thus accelerating the ecological layout of the clean energy industry and building its own core competitiveness. The Group will accelerate the optimisation of assets allocation, and strengthen the utilisation of capital resources and market development, and highlight the integrated management. In addition to existing photovoltaic power business, the Company will proactively tap into other clean energy markets such as wind power, and explore various types of energy including hydrogen energy and energy storage. By leveraging its financing strength, the Company will maintain fast growth and realise scale expansion and intensive development, in a bid to build itself as a large scale company. Through fully utilization of the market mechanism, the Group will further optimise the organizational structure, risk control, and incentive and constraint system. Furthermore, the Company will strengthen benchmarking against industry to improve the internal operation and management and establish a compliance and efficient internal corporate governance system of modern enterprises. Therefore, the Company can achieve healthy and steady development as a sustainable company.

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