Beijing Energy International wins 60MW solar project contract

Beijing Jingyun Mujiayu New Energy Co. Ltd., a wholly-owned subsidiary of Beijing Energy International Holding Co. Ltd., has entered into a procurement and construction (PC) contract with China Construction Second Engineering Bureau Ltd. (CCSEB) for a 60 MW photovoltaic power generation project in Mujiayu Town, Miyun District, Beijing. The total contract price is approximately RMB136m (tax inclusive). CCSEB will provide PC services, including equipment procurement, construction, installation, testing, commissioning, and final handover, along with handling regulatory approvals and external transmission line works.

The payment structure includes an advance payment of 20% (approximately RMB27m) upon meeting specific conditions, followed by milestone payments up to 97% based on project progress and grid connection. A 3% quality assurance fund will be retained until the expiration of the one-year warranty period. CCSEB is required to provide a Letter of Performance Guarantee and a Letter of Advance Payment Guarantee, each equivalent to 10% of the contract price.

The transaction constitutes a discloseable transaction for Beijing Energy International Holding Co. Ltd. under Chapter 14 of the Listing Rules, as the highest applicable percentage ratio exceeds 5% but is less than 25%. This project aligns with the company's strategy to expand its clean energy business and optimize its asset mix, supporting sustainable development and long-term returns to shareholders.