Mapping the Blueprint for a New Journey;Forging Ahead to Break New Ground

— Successful Convocation of the 4^th Session of the 1^st Employees’ Representative Congress and 2026 Annual Work Conference 

On February 10, the 4^th Session of the 1^st Employees’ Representative Congress and 2026 Annual Work Conference of Beijing Energy International were successfully convened in Beijing. Li Yuhai, Deputy Secretary of the Party Committee, Director, and President of Beijing Energy Holding (BEH), and Chairman of the Board of Beijing Energy International (hereinafter referred to as “the Company”), attended the meeting and delivered a keynote address.

The meeting comprehensively reviewed the Company’s performance in 2025 and its strategic achievements during the 14^th Five-Year Plan period, conducted an in-depth analysis of the new industry landscape, and systematically deployed key tasks for 2026 and the 15^th Five-Year Plan period. The meeting mobilized the entire company to further unify thinking, pool collective strength, shoulder strategic missions, and forge ahead with innovation and determination, ensuring that all tasks are meticulously implemented with renewed vigor, striving to pioneer a new paradigm of high-quality development for the 15^th Five-Year Plan period. 

Li Yuhai fully affirmed the Company’s achievements over the past five years. He noted that during the 14^th Five-Year Plan period, the Company proactively integrated into BEH’s overarching strategy, navigating through complexities and overcoming adversities to achieve transformative growth, thereby laying a solid foundation for high-quality development in the 15^th Five-Year Plan period. The Company demonstrated significant prowess in energy security, with steady profit contributions and monumental growth in total assets, net assets, and installed capacity, bolstering the capital’s green transition and BEH’s clean energy strategic footprint. It made new breakthroughs in structural transformation by innovating financing channels and revitalizing existing assets. Its public REITs delivered outstanding performance, and off-balance-sheet REITs set a global benchmark for asset-light operations, marking the initial success of the transition toward an asset-light management model. Major project development also made pioneering progress, with the successful execution of large-scale energy base projects such as the “Jilin-to-Beijing Power Transmission Project” and the “Inner Mongolia-to-Beijing Power Transmission Project”, exemplifying the Company’s strategic vision, unwavering perseverance, and market development capabilities, while making pivotal contributions to securing the capital’s future green power supply.

Focusing on BEH’s strategic arrangements and the Company’s key tasks for 2026 and the 15^th Five-Year Plan period, Li Yuhai emphasized the following six priorities:

First, uphold strategic leadership to cultivate new competitive edges. Fully implement BEH’s “8755” development targets, remain firmly focused on serving the capital’s core functions, spearhead the construction of the “Jilin-to-Beijing Power Transmission Project” and the “Inner Mongolia-to-Beijing Power Transmission Project”, and actively secure favorable tariffs and quota allocations. Deepen the development of local Beijing resources, intensify efforts in distributed photovoltaic and integrated energy projects, and create flagship demonstration benchmarks. Expand in a strategic and calibrated manner into potential regions such as the Yangtze River Delta, optimize business layout, and steadily pivot from asset-heavy ownership toward a dual-track model that integrates asset-light and asset-heavy operations.

Second, focus on quality and efficiency to strengthen the drivers of profitability. Fully implement a total cost leadership strategy, establishing a total cost management system featuring front-end budget anchoring, concurrent dynamic control, and back-end review and optimization. Strengthen lean management and strictly control costs across investment, design, construction, and operation. Address the challenge of the “dual decline in volume and price” by accelerating the development of a power trading decision-support system, building a professional marketing team, and establishing a key accounts management system. Enhance precision capital management, optimize debt structure, and reduce financing costs.

Third, reinforce innovation-driven development to sharpen core competitiveness. Place technological innovation at the heart of strategy, increase R&D investment in high-efficiency power generation, energy storage, and green hydrogen, and strive to master key proprietary technologies. Deepen digital transformation, actively embrace Artificial Intelligence, and advance applications such as smart power plants, intelligent operations, and power-carbon synergy to empower management elevation and business innovation. Integrate advanced technologies proactively at the early stage of major project design to improve system compatibility and reliability.

Fourth, fortify risk defenses to safeguard the “safety lifeline”. Strictly control investment risks, ensure rigorous and evidence-based preliminary project work, and guarantee that feasibility studies are authentic and precise to prevent risks at the source. Continue refining the “Great Risk Control and Supervision” system, enhance compliance management and the depth of internal controls. Attach paramount importance to production safety, implement holiday readiness and duty arrangements, and conduct thorough hidden hazard inspections. Standardize overseas business management and effectively mitigate cross-border operational risks.

Fifth, strengthen the talent pipeline to build sustained development momentum. Enhance leadership team development, fostering synergy and professional complementarity. Optimize the talent structure, nurturing versatile experts who understand technical operations, management, marketing, and finance—with a focus on leading talent for major projects. Implement the “Three Determinations Provisions” (functional configuration, internal organizational structures, and staffing of departments) management requirements and improve overall labor productivity to reinvigorate organizational vitality.

Sixth, deepen Party building to forge synergy for high-quality development. Promote the seamless integration of Party building with production and operations, and continue building distinctive corporate brands. Maintain a rigorous stance, advancing the synergistic unity of full and rigorous Party governance and corporate governance. Strengthen corporate culture, integrity education, and mass organization initiatives to enhance cohesion and foster a vibrant, upright, and enterprising atmosphere.

Zhu Jun, Executive President of the Company, delivered a management work report titled “Anchoring Value Creation, Deepening Lean Management, and Fully Ushering in a New Development Paradigm in the 15^th Five-Year Plan Period”.

Zhu Jun noted in his report that in 2025, under the theme of the “Year of Quality and Efficiency Enhancement”, the Company focused on the guiding principle of “seeking progress while maintaining stability, systematic planning, meticulous management, and strict risk control.” Through collective dedication and overcoming formidable challenges, the Company achieved exemplary results in all areas and successfully concluded the 14^th Five-Year Plan period. Operational quality and efficiency advanced steadily, with simultaneous growth in asset scale and profitability. Strategic layout achieved decisive breakthroughs, with pivotal progress in the “Jilin-to-Beijing Power Transmission Project” and the “Inner Mongolia-to-Beijing Power Transmission Project”. Production and operations attained new levels of lean efficiency, delivering notable cost reductions and value creation. Financing innovation and capital operations progressed in depth, empowering asset structure optimization. Risk prevention and control were comprehensively upgraded, and foundational management was further solidified, laying a robust foundation for high-quality development.

Regarding key tasks for 2026, Zhu Jun emphasized the following eight points:

First, reshape the development paradigm and integrate asset-light and asset-heavy models;

Second, focus on serving the capital and accelerate the construction of energy bases;

Third, strengthen safety management and consolidate the foundation for value creation;

Fourth, deepen quality and efficiency enhancement to elevate value creation capacity;

Fifth, enhance engineering management and cultivate a premium brand for value creation;

Sixth, strengthen management empowerment and solidify the “infrastructure” of value creation;

Seventh, reinforce organizational support and unite collective efforts for value creation;

Eighth, fortifying the bottom line of risk control to navigate the Company’s high-quality development.

Zhang Ping, Executive Director and President of the Company, delivered an important speech titled “Focusing on Serving the Capital, Strengthening Performance Improvement, Fortifying Risk Prevention, and Entering a New Stage of High-Quality Development”.

Zhang Ping stated that since the 2020 restructuring, the Company has achieved leapfrog development over five years. Its industrial ecosystem has expanded from a single photovoltaic business to coordinated development across wind, solar, hydro, thermal, storage, and hydrogen. Asset scale and installed capacity have multiplied, and international influence has grown significantly, making important contributions to BEH’s development and the capital’s energy security. Over the past five years, the Company has achieved solid results in strategic layout, safe production, management capability, financial innovation, risk prevention and control, and Party building and corporate culture, reflecting the collective wisdom and dedication of all employees.

Zhang Ping emphasized that in the face of comprehensive market-oriented reforms and profound changes in the new energy industry, the Company must clearly understand the situation and remain confident in its strategy. The year 2026 marks both the opening of the 15^th Five-Year Plan period and the Company’s “Year of Value Creation.” The Company will focus on the strategic mainstay of “integrating asset-light and asset-heavy models, spearheading key breakthroughs, deepening lean management, and fortifying risk control”. It will center on serving the capital, focus on improving operating performance, and take strengthening risk prevention as its core, promoting a fundamental transformation of its development model and building a competitive edge anchored in certainty amid uncertainty.

Regarding the implementation of key annual tasks and future development direction, Zhang Ping put forward four requirements:

First, clarify strategic transformation, innovate development models, and fully serve the capital’s development. Uphold serving the capital as the core mission and ensure efficient advancement of the “Jilin-to-Beijing Power Transmission Project” and the “Inner Mongolia-to-Beijing Power Transmission Project”. Firmly promote the shift toward a dual-track model that integrates asset-light and asset-heavy operations, and build professional asset management and value discovery capabilities. Focus on improving the quality and efficiency of existing projects through comprehensive benchmarking and lean management. Advance organizational transformation toward a multi-dimensional and flexible model to enhance governance effectiveness and market responsiveness.

Second, clarify operational priorities, optimize existing assets, and improve performance through multiple measures. Establish a performance-oriented operating and management philosophy, strengthen closed-loop control and benchmarking. Enhance safety management capabilities across multiple business formats to consolidate the foundation for development. Improve power market trading capabilities to address volume and price challenges. Promote AI empowerment and digital-intelligent upgrading of business operations. Strengthen tax and debt risk prevention and control, and continuously optimize the financial system.

Third, prioritize compliance, address problems thoroughly, and build a solid risk defense line. Improve integrated and coordinated supervision mechanisms to form joint oversight. Enhance awareness of compliant operations and strengthen management foundations, particularly reinforcing legal support for major projects. Deepen closed-loop audit rectification management, enforcing accountability for rectification, and establish long-term management mechanisms.

Fourth, strengthen Party leadership and cultural cohesion to energize the organization from within. Uphold Party leadership to unite development efforts and achieve new breakthroughs in model transformation and major projects. Deepen full and rigorous Party governance and strengthen organizational foundations. Promote deep cultural integration and two-way talent mobility, using cultural cohesion to stimulate endogenous momentum for high-quality development. 

Liu Guoxi, Secretary of the Party Committee and Chairman of the Labor Union of the Company, presided over the meeting and conveyed the spirit of the 5^th Session of the 2^nd Employees’ Representative Congress and the 2026 Work Conference of BEH.

Liu Guoxi stressed that all employees must thoroughly study and implement the spirit of the meeting, consciously align their thinking and actions with its arrangements and requirements, focus firmly on the main work priorities, keep a close eye on annual development targets, and ensure that all tasks and measures are implemented effectively and deliver tangible results, contributing to the Company’s high-quality development.

The meeting distributed in written form the 2025 Work Report of the Party Committee of the Company, the Report on the Use of Labor Union Funds in 2025, the Preparatory Work Report for the 4^th Session of the 1^st Employees’ Representative Congress, the Report on the Qualification Review of Representatives to the 4^th Session of the 1^st Employees’ Representative Congress, the Report on the Handling and Implementation of Proposals from the 3^rd Session of the 1^st Employees’ Representative Congress, and the Proposal on Reviewing Relevant Human Resources Management and Rights and Interests Safeguard Mechanism. The meeting voted to adopt the Resolution of the 4^th Session of the 1^st Employees’ Representative Congress and the 2026 Work Conference of Beijing Energy International Holding Co., Ltd. 

The meeting announced the Decision on Commending Advanced Collectives and Individuals for 2025. Zhu Jun presented awards to representatives receiving the 2025 Outstanding Elite Award and Star Employee Award; Liu Guoxi presented awards to individuals receiving the 2025 Special Contribution Award; and Zhang Ping presented awards to representatives of teams receiving the 2025 Advanced Management Team Award. 

Liu Guoxi signed the 2026 Responsibility Agreement on Full and Rigorous Party Governance (Party Building) with representatives of Party organization secretaries.

Zhu Jun signed the 2026 Operating and Management Target Responsibility Agreement, the 2026 Safety and Environmental Protection Target Responsibility Agreement, and the 2026 Science and Technology Innovation Target Responsibility Agreement with representatives of the Company’s branches and subsidiaries.

During the meeting, participants watched the Company’s values promotional films Light of the Desert and Where the Wind Rises by the Bohai Sea, the themed speech Breaking Through Across Thousands of Miles, and the retrospective short film Standing Firm to Honor the Original Aspiration in the Final Moments. From different perspectives, the works vividly showcased the Company’s development journey, cultural essence, and stories of dedication, profoundly interpreting the values and spirit of its people. They resonated strongly with the audience, further inspiring unity, resolve, and collective momentum to advance toward the future. 

A total of 153 participants attended the congress, including members of the Company’s leadership team; Chief Officers, the General Counsel, and Assistants to the President; heads of headquarters departments, the Vice Chairman of the Labor Union, and the Secretary of the Youth League Committee; all staff (union member) representatives of the 4^th Session of the 1^st Employees’ Representative Congress; as well as Party Branch Secretaries, Executive Directors, and General Managers of various branches and subsidiaries.