As the seasons renew and fireworks illuminate the sky, it is my privilege, on behalf of the board and management of Beijing Energy International, to extend heartfelt New Year greetings and deepest gratitude to our shareholders for your steadfast support, our colleagues for your tireless dedication, and our families for your unwavering encouragement along this journey.

Since our restructuring in 2020, the company is now on the cusp of its fifth anniversary. We have braved storms and harvested abundant successes, embarking on a journey rich with challenges and accomplishments. From restructuring and integration to relentless effort and rising prominence, our path has been defined by resilience and determination. Together, we have surmounted countless obstacles and pursued excellence with unwavering focus. My deepest gratitude goes to every dedicated member of the company, our steadfast partners, and all those who have walked this path with us, infusing this journey with warmth and strength.

Five Years of Perseverance and Achievement

In the face of a complex and ever-evolving market environment, our employees have demonstrated unwavering resolve, unity, and diligence. Their efforts have culminated in impressive achievements:

· By the end of December 2024, grid-connected installed capacity exceeded 13 GW;

· Total “operational and equity installed” capacity surpassed 20 GW;

· Total assets exceeded RMB 100 billion.

These accomplishments reflect not only our hard work but also our commitment to responsibility and excellence. We will never forget the remarkable dedication of every member of the company: the steadfast perseverance in temperatures below -20°C, the unwavering commitment in oxygen-deprived conditions at altitudes of 5,000 meters, the unyielding resilience in the remote solitude of desolate deserts, and the resolute determination demonstrated on distant shores across the globe.

Five Years of Innovation and Growth

Through continuous exploration, we have sharpened our strategic focus and established a development framework centered on “dual-circle, one-center and one-focus.” Domestically, we prioritize investment returns and rigorous post-project evaluations, creating a portfolio of high-quality clean energy power plants. Internationally, we have strategically positioned ourselves in economically developed, legally robust, and market-stable countries and regions, successfully completing five projects in Australia with a total capacity of 945.4 MW. This achievement has positioned us as a leader among Chinese enterprises in Australia’s clean energy sector.

Over these five years, the company has expanded from renewable energy to encompass wind, solar, hydropower, integrated energy, and gas turbine projects. We have also ventured into emerging fields like green hydrogen, diversifying our portfolio to enhance profitability and strengthen resilience against risks.

Five Years of Recognition and Milestones

Our journey over the past five years has been marked by accolades and recognition:

· In technology, our self-developed “Intelligent and Efficient Cleaning Robot for Photovoltaic Modules” won the gold medal at the 2024 Silicon Valley International Inventions Festival (SVIIF);

· In environmental contributions, we were assigned by Sustainable Fitch the highest entity score, making us the highest-rated company in China;

· In philanthropy, we received the “China Red Cross Contribution Medal”;

· In corporate governance, we were honored with the “National Second Prize for Modern Management Achievements”;

· In credit ratings, we secured Fitch “A,” S&P “BBB+,” and domestic “AAA” ratings, building one of the most competitive credit systems in China’s power industry;
Moreover, we have consistently climbed the rankings of the Global Top 500 New Energy Enterprises, with our position improving year by year.

Five Years of Unity, Striding Toward the Future

We attract talent with sincerity, guided by a people-centric philosophy, and work in unison with all employees to craft a shared vision and achieve success together. Through trust, we build consensus and pursue a differentiated development strategy, joining forces with our shareholders and partners to foster growth. By embracing responsibility, we shape the future, writing a story of high-quality development, safeguarding the ecosystem with industry partners, and creating brilliance in unison.

Over the past five years, the company has cultivated a meritocratic culture：“The capable rise, the mediocre step aside, and the unfit are dismissed.” We have nurtured an elite team that “Channels positive energy, fosters new consensus, and relentlessly seeks innovation.” We have also cultivated an organizational culture centered around “Fusion,” emphasizing the seamless integration of talent, wisdom, and business acumen. We believe that “Strength drives progress, fusion fosters greatness.” We champion the ethos that “This time, you take center stage” and uphold principles of “Everyone is sincere, everything is transparent”, nurturing a mindset of “Give our best for every possibility.” Guided by a spirit of “Drive breakthroughs by bridging gaps,” we unlock boundless innovation, operating under the belief that “Break boundaries, unlock infinity.” In this way, the corporate cultural foundation has begun to take form.

Reflecting on the Past, Embracing the Future

The past five years have laid a solid foundation, and the future beckons us to deliver on “Better Energy at Fingertips”. We understand that true progress aligns with the rhythms of our times and the goals of our nation. The company remains committed to green, low-carbon principles, advancing diversified development, optimizing project development and operations, and collaborating with like-minded partners to address global energy challenges. Together, we will embark on the next chapter of our journey and beyond.

To our valued partners and supporters, I offer my heartfelt wishes for the New Year: May spring bring you joy, summer bring you peace, autumn bring you contentment, and winter bring you blessings. Wishing you a year filled with happiness and prosperity!