On April 27, 2023, Beijing Energy International held the 2022 Business Performance Meeting in Hong Kong online and offline. Zhang Ping, chairman of the Board of Directors of Beijing Energy International, Liu Dongsheng, senior vice president, and Huang Hui, chief financial officer attended the meeting. More than 50 well-known domestic and foreign investment bank analysts and institutional investors, including Zhongtai International, BOC International, Standard & Poor’s Global Ratings, Standard Chartered and Essence International, attended the meeting.
During the meeting, the senior management team shared the highlights, business performance and operation results in 2022, and future development strategies of the company. In 2022, under the mission of “building a clean energy industry ecosystem featuring green and multi-complementarity development and smart integration and providing full life cycle services for global energy users through value creation”, the company deepened its reform, promoted innovation-driven development, lean management and improved quality and efficiency. While coping with various internal and external difficulties, it incessantly optimized industrial layout, strengthened its main business to build core competitiveness. Its holding installed capacity and equity installed capacity exceeded 12 GW.
Its annual performance data shows that in 2022, it registered an operating income of 4.115 billion yuan, a y-o-y increase of 45.7%. The total profit was about 616 million yuan, up 26.23% after excluding non-recurring gains and losses. The total assets were 60.328 billion yuan, a y-o-y increase of 30.7%. the dividend was 0.88 cents per share, with a dividend payout ratio as high as 73%. Moving forward, the company will avail itself of the advantages of a SOE of Beijing, speed up the development of energy base projects, the research on the mode of integrating electricity generation and sales, as well as the market transaction mode that switches from volume-based operation to value-based operation.
The meeting engaged much attention in the industry and a number of well-known analysts and investors interacted online and offline. Among them, new energy analysts inquired about the development and planning for the second half of the year. Zhang Ping said that as the company has been embracing high-quality and high-speed development, it is deeply committed to achieving an installed capacity of over 22 GW by the end of 2025. To accomplish the goals, there are several steps to be taken. First, speed up the construction of confirmed projects as well as mergers and acquisitions. Second, expediate the “Green Power into Beijing” Project, promote the project entry of clean energy base project in the south of Xilingol League. Third, actively carry out the layout of integrated energy and energy storage projects and accelerate the landing of projects. Zhang Ping emphasized that the company will continue capitalizing on the strength of a SOE of the capital city, combine the advantages of wind and solar resources in the northwest, central north and northeast and the advantages of load absorption in the southeast coastal areas, and prioritize the introduction of strategic investors in the second half of the year to improve the shareholding structure and make it bigger and stronger.
During the Q & A session, the management said that in the early stage of development, the acquisition of stock assets is conducive to rapidly increasing the company’s assets, generating a scale effect and increasing its total profit. However, at strategic deployment level, the company has seized the domestic and international energy development trends, adhered to the principle of integrating “reserve bases, synergized development and international expansion” to refine the development path of the “14th Five-Year Plan”, and gradually formed a development pattern of “dual-circle, one-center and one-focus”. Domestically, it will continue to play its advantages to improve the business layout; overseas, with the existing resources, it will further expand the new energy markets in RCEP countries such as Australia and Vietnam, accelerate the Australia Wollar Solar Power Project and the acquisition of the Australia Moorabool Wind Power Project, and the Vietnam Song An and Ben Tre wind power projects.
