Core Viewpoint - Beijing Energy International (00686) reported preliminary operational statistics indicating significant growth in power generation for the upcoming years [1] Group 1: Power Generation Statistics - The total power generation from the company's 267 power plants is expected to reach approximately 6.137 million megawatt-hours (MWh) in the fourth quarter of 2025, representing a year-on-year increase of 8.45% [1] - For the 12 months ending December 31, 2025, the total power generation is projected to be around 25.4127 million MWh, reflecting a year-on-year growth of 30.86% [1]

Core Viewpoint - Beijing Energy International (00686.HK) announced preliminary operational statistics indicating a total power generation of approximately 6,136,995 MWh from its 267 power plants by the fourth quarter of 2025, with an annual total generation of about 25,413,000 MWh for the twelve months ending December 31, 2025 [1] Group 1 - The company operates a total of 267 power plants [1] - The projected total power generation for Q4 2025 is approximately 6,136,995 MWh [1] - The expected total power generation for the twelve months ending December 31, 2025, is about 25,413,000 MWh [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 – 1 – 二零二五年第四季度之發電量數據詳情總結如下： 北京能源國際控股有限公司 董事會主席 686 二零二五年第四季度 發電站發電量之總結 北京能源國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）為了讓 本公司的股東及潛在投資者了解本集團的最新業務發展而刊發本公告。本公 司董事會宣佈，根據本集團之初步運營統計數據，本集團及其聯營公司實益擁 有之267個發電站於二零二五年第四季度（「第四季度」）總發電量共約6,136,995 兆瓦時（「兆瓦時」），而截至二零二五年十二月三十一日止十二個月之總發電量 達到約25,412,743兆瓦時。 | 於二零二五年十二月三十一日 | 發電量概約 | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

Core Insights - Traditional heavy-asset energy companies face challenges such as large investment scales, long recovery periods, and cash flow volatility. Beijing Energy Group has addressed these issues through asset securitization, specifically by issuing the China Aviation Beijing Energy Photovoltaic Closed-End Infrastructure Securities Investment Fund and the CICC-Beijing Energy International Energy Infrastructure Asset-Backed Special Plan, achieving goals of revitalizing existing assets, broadening financing channels, and optimizing cash flow structures [1][2]. Group 1: Asset Securitization and Innovation - The expansion of the China Aviation Beijing Energy Photovoltaic REIT, which includes hydropower projects, marks a significant innovation in asset securitization, creating a new avenue for capital market engagement in the context of China's dual carbon strategy [2][3]. - The "photovoltaic + hydropower" mixed issuance model provides a four-dimensional value proposition, including complementary power generation, risk diversification, enhanced returns, and upgraded financing [3][4]. - The issuance of public REITs allows companies to convert heavy assets into standardized, market-acceptable underlying assets, facilitating better cash flow management [4]. Group 2: Collaborative Efforts and Government Support - The successful expansion of the China Aviation Beijing Energy Photovoltaic REIT is attributed to strong support from local government, which plays a crucial role in optimizing capital structures and enhancing asset resilience [5][6]. - REITs enable a shift from reliance on incremental investments to activating existing assets, addressing the issue of dormant local assets and creating a sustainable capital loop [6][7]. - The focus on enhancing asset governance and compliance is essential for future asset revitalization, ensuring that all operational phases are well-managed [9]. Group 3: Future Outlook and Strategic Goals - The company aims to continue promoting REIT expansions, targeting a diversified platform that includes wind, solar, hydropower, and energy storage businesses, thereby contributing to the green transformation of the energy sector [8][10]. - The strategy emphasizes the importance of utilizing financial tools like REITs and ABS to activate quality cash-generating assets, facilitating effective investment and sustainable growth [10].

Major Events - CATL (03750) plans to issue an additional 34.8584 million shares [1] - MINIMAX-WP (00100) fully exercised its over-allotment option involving a total of 4.3796 million shares [1] - MIRXES-B (02629) established a strategic partnership with N Health, and its HELICORapid and FITRapid home testing kits received regulatory approval [1] - LFG Investment Holdings (03938) was acquired by Chen Shaoyang, who purchased approximately 61.43% of shares at a discount of about 59.46% through a cash offer, with resumption of trading on January 12 [1] - Xiansheng Pharmaceutical (02096) plans to spin off its H-shares for independent listing on the main board of the Hong Kong Stock Exchange [1] - OmniVision Technologies (00501) saw its public offering in Hong Kong oversubscribed by 9.28 times, with a share price of HKD 104.8 [1] - China Nonferrous Mining (01258) released its production guidance for 2026, expecting a total copper output of approximately 484,000 tons [1] - China Rare Earth Holdings (03788) reported a 53.1% increase in JORC ore reserves to 2.62 million ounces, with JORC gold resources rising to 5.54 million ounces [1] - Black Sesame Intelligence (02533) plans to issue a total of 30.1319 million subscription shares, raising approximately HKD 568 million [1] - Shanghai Pharmaceuticals (02607) received approval for the production of bromhexine oral solution [1] - Beijing Energy International (00686) signed an EPC contract for a 100 MW wind power project in Heilongjiang Province [1] - Standard Chartered Group (02888) plans to issue SGD 750 million fixed-rate reset perpetual subordinated convertible securities [1] Share Buybacks/Reductions - Geely Automobile (00175) repurchased 1.547 million shares for HKD 26.6229 million on January 9 [2] - Sunny Optical Technology (02382) repurchased 840,000 shares for HKD 53.9894 million on January 9 [2] - Xiaomi Group-W (01810) repurchased 4 million shares for HKD 151 million on January 9 [2] Operating Performance - China Jinmao (00817) achieved a cumulative contracted sales amount of RMB 113.5 billion for 2025, a year-on-year increase of 15.52% [2] - Jiumaojiu (09922) reported stable performance for its main brands in the fourth quarter [2] - CIFI Holdings Group (00884) recorded a cumulative contract sales amount of approximately RMB 16.1 billion for 2025 [2] - R&F Properties (02777) reported total sales revenue of approximately RMB 14.21 billion for 2025, a year-on-year increase of 26.54% [2] - Zhongliang Holdings (02772) reported a cumulative contract sales amount of approximately RMB 12.07 billion for 2025, a year-on-year decrease of 32.68% [2] - Shui On Land (00272) achieved a cumulative contract property sales amount of RMB 7.916 billion for 2025 [2] Additional Performance Metrics - Greenland Hong Kong (00337) reported contract sales of approximately RMB 7.214 billion for 2025, a year-on-year decrease of 21.66% [3] - Yuzhou Group (01628) achieved a cumulative sales amount of RMB 6.727 billion for 2025 [3] - New World Development (01030) reported contract sales of approximately RMB 1.354 billion in December [3] - China Shipbuilding Defense (00317) expects a year-on-year increase of 149.61% to 196.88% in net profit attributable to shareholders for 2025 [3] - Longyuan Power (00916) completed a cumulative power generation of 76.4694 million MWh for 2025, a year-on-year increase of 1.22% [3] - Sunny Optical Technology (02382) reported a December shipment of 95.592 million mobile phone lenses, a year-on-year decrease of 8.9% [3] - COFCO Joycome (01610) reported a December pig output of 567,000 heads, a month-on-month increase of 1.43% [3] - Dekang Agriculture (02419) sold 1.1097 million pigs in December, generating sales revenue of RMB 1.664 billion [3] - Hengding Industrial (01393) reported a coal output of 5.415 million tons for 2025, a year-on-year increase of 31% [3] - Orient Overseas International (00316) reported a 17.2% decrease in quarterly shipping revenue compared to the same period last year, with total cargo volume up 0.8% and carrying capacity up 4.5% [3]

Group 1 - The company Beijing Energy International (00686) announced the signing of an EPC contract for a 100 MW wind power project in Harbin, Heilongjiang Province, with a contract price of approximately RMB 135 million (including tax) [1] - The EPC contract involves a consortium led by Zhengyi Construction and includes Zhongke Shenghua, which will provide comprehensive EPC services including surveying, design, procurement, construction, installation, testing, and acceptance [1] - The project aims to enhance the functionality and operational status of the wind power project, promoting stable operation and long-term performance [2] Group 2 - The company holds an optimistic outlook on the development of clean energy projects in China and anticipates favorable investment returns in the foreseeable future [2] - The signing of the EPC contract aligns strategically with the company's overall development strategy for wind power projects, indicating a continuous expansion and optimization of its clean energy business [2] - The development of supporting facilities and infrastructure is expected to lay the foundation for the sustainable utilization of core assets in the 100 MW wind power project, contributing to long-term economic value creation [2]

Group 1 - Company announced the signing of an EPC contract for a 100 MW wind power project in Harbin, China, with a contract price of approximately RMB 135 million (including tax) [1] - The EPC contract involves a consortium led by Zhengyi Construction and includes Zhongke Shenghua, responsible for providing all necessary services including surveying, design, procurement, construction, installation, testing, and acceptance [1] - The project aims to enhance the functionality and operational status of the wind power project, promoting stable operation and long-term performance [2] Group 2 - The company maintains an optimistic outlook on the development of clean energy projects in China and expects favorable investment returns in the foreseeable future [2] - The signing of the EPC contract aligns strategically with the company's overall development strategy for wind power projects, indicating a commitment to expanding its clean energy business and optimizing its business structure [2] - The development of supporting facilities and infrastructure is expected to lay the foundation for the sustainable utilization of core assets in the 100 MW wind power project, contributing to long-term economic value creation [2]

Core Viewpoint - Beijing Energy International (00686.HK) has signed an EPC contract for a 100 MW wind power project in Harbin, China, with a contract price of approximately RMB 135 million (including tax) [1] Group 1: Contract Details - The EPC contract was established between Jingrui, a wholly-owned subsidiary of the company, and a consortium led by Zhengyi Construction and Zhongke Shenghua [1] - The contract aims to provide EPC services for the construction of supporting facilities and infrastructure for the wind power project [1] Group 2: Industry Outlook - The company holds an optimistic view on the development of clean energy projects in China and the expected investment returns [1] - The signing of the EPC contract aligns strategically with the company's overall development strategy for wind power projects [1] - The implementation of supporting facilities and infrastructure is expected to enhance the functionality and operational status of the wind power projects, promoting stable operation and long-term performance [1] - The development of these facilities is anticipated to lay the foundation for the sustainable utilization of the core assets of the 100 MW wind power project and support the creation of long-term economic value [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 686 須予披露交易 有關位於中國黑龍江省100兆瓦風力發電項目的 配套設施及基礎設施的工程、採購及建設合約 EPC合約 於二零二六年一月九日，京瑞（本公司之全資附屬公司，作為發包方）與聯合 體單位（作為承包方）訂立EPC合約。根據EPC合約，聯合體單位將向京瑞提供 EPC服務，以建設EPC項目。EPC合約項下的合約價格約為人民幣135百萬元 （含稅）。 上市規則之涵義 由於訂立EPC合約之最高適用百分比率超過5%但低於25%，故訂立EPC合約 構成本公司之須予披露交易，因此須遵守上市規則第14章項下之通知及公告 規定。 – 1 – 緒言 董事會欣然宣佈，於二零二六年一月九日，京瑞（本公司之全資附屬公司，作為 發包方）與聯合體單位（作為承包方）訂立EPC合約。根據EPC合約，聯合體單位 將向京瑞提供EPC服務，以建設EPC項目。EPC合約項下的合約價格約為人民 幣135百萬元（含稅）。 EPC合約 聯 ...

Core Viewpoint - Beijing Energy International (00686) has signed an EPC contract valued at approximately RMB 263 million (including tax) for a project with its non-wholly owned subsidiary, Jingxin, indicating a strategic move towards expanding its clean energy and renewable energy business [1] Group 1: Contract Details - The EPC contract was established on January 6, 2026, between Jingxin (as the client) and a consortium (as the contractor) [1] - The contract price for the EPC services is approximately RMB 263 million, which reflects the company's commitment to investing in clean energy projects [1] Group 2: Industry Outlook - The company holds an optimistic view on the future prospects of the photovoltaic and clean energy sectors in China, considering the expected investment returns [1] - The signing of the EPC contract aligns strategically with national policies promoting the development of renewable and clean energy bases, supporting the company's growth in the photovoltaic sector [1] Group 3: Business Expansion - The company is continuously expanding its clean energy and renewable energy business scale while optimizing its business structure [1] - This arrangement is expected to enhance the company's operational flexibility and sustainability, reinforcing its project reserves in core areas [1]