BJ ENERGY INTL: Anchoring Asset-Light Operations and Reshaping the Value of Clean Energy Investments
BEIJING, Aug. 27, 2025 /PRNewswire/ -- Since the beginning of 2024, China has introduced a wave of new policies aimed at curbing "involution" within the clean energy sector. The State-owned Assets Supervision and Administration Commission (SASAC) has urged a shift away from the "resource-centric" mentality to prevent vicious competition. The National Energy Administration's 2024 Energy Work Guidance explicitly advocates the "Three No's Principle": no vicious competition, no resource hoarding, and no inefficient expansion. Multiple ministries have also collaborated to standardize new energy subsidies, underscoring support for technological and business model innovation. This cohesive policy framework charts a clear new course for high-quality development in China's clean energy industry.
Beijing Energy International has keenly aligned with these policy signals, prioritizing asset-light operations to escape the trap of overcompetition and embark on a path of high-quality growth. By focusing on three core dimensions—strategic innovation, efficiency revolution, and vitality engine—the company is overcoming development bottlenecks and advancing toward sustainable expansion. On 22 August 2025, Beijing Energy International (Stock Code: 00686.HK) disclosed its interim results for the first half of the year. The announcement indicates that in the first half of 2025, the company's total assets amounted to RMB 105.627 billion, representing a 3.1% increase compared with the beginning of the year; the total grid-connected installed capacity reached 13.692 GW, up 8.3% from the beginning of the year; operating revenue was RMB 4.086 billion, a year-on-year increase of 24.9%; and total profit was RMB 448 million, up 3.2% year-on-year. The company's comprehensive strength has reached a new level.
Strategic Leadership: Building a New Model for Asset-Light Operations and Unlocking the Value of Existing Assets
In July 2025, the National Development and Reform Commission (NDRC), along with several ministries, issued the Notice on Zero-Carbon Park Development, emphasizing "source-grid-load-storage coordination" and "smart energy management" as core strategies to transition clean energy from heavy-asset development toward light-asset operation. For Beijing Energy International, the traditional "invest-build-operate" project development model is no longer sufficient. The company is now deepening the financial attributes of power stations, enhancing asset liquidity and turnover, and transitioning strategically from a heavy-asset holder to a specialized asset manager—ultimately forming an optimized "heavy-light integrated" business model. It aims to become a specialized manager, value discoverer, and industry consolidator of the new energy asset. By leveraging its robust capability in high-quality asset development and through continuous securitization and value creation, the company is steadily elevating its financial performance, shareholder returns, and investment appeal.
Confronting profound industry transformation, the company has embarked on strategic upgrades through three key initiatives:
- Innovating Operating Models to Revitalize Existing Assets and Optimize New Additions: Utilizing existing platforms and expanding new partnerships, the company is constructing a multi-tiered light-asset operation system. By tapping into disparities between the expected returns and valuations of physical power assets and financial markets, it is pursuing a two-pronged strategy: revitalizing existing operational assets and securitizing project reserves. Through varied transactional and securitization arrangements, the company unlocks the value of power station assets. Concurrently, it is strengthening its team's capabilities in high-quality asset development, operation, management, and transaction through hands-on practice, ultimately establishing a sustainable light-asset business model;
- Capturing the "Green Electricity to Beijing" Opportunity to Establish Benchmark Projects: The Jilin-to-Beijing Power Transmission Project is accelerating regulatory approval for peak-shaving power sources, while the Inner Mongolia-to-Beijing Power Transmission Project is being actively promoted for inclusion in the national "15th Five-Year Plan." Ensuring green power supply for the capital remains a priority, with emphasis on project development in the Beijing-Tianjin-Hebei region and active pursuit of high-return projects in the Yangtze River Delta and Pearl River Delta regions—ensuring that underlying assets excel in both quality and profits;
- Optimizing Business Structure to Enhance Risk Resilience: In response to the current high proportion of photovoltaic assets, the company is strengthening efforts in wind, gas turbine, and hydropower sectors. It is simultaneously advancing offshore wind expansion, deepening integrated energy solutions, and steadily growing its green hydrogen business. Overseas operations adhere to a profitability-first principle. By building a complementary multi-energy portfolio, the company is forging a more robust asset mix.
As strategic leaders focus on overarching momentum, the company leverages three strategic dimensions to elevate its asset operation capabilities and forge effective pathways for high-quality clean energy development.
Efficiency Revolution: A Paradigm Shift from Scale Expansion to Transformative Efficiency Gains
Guided by the principle that "those who fail to plan holistically cannot succeed in specifics, and those who ignore long-term goals cannot manage the present," the company is driving an efficiency revolution across four key areas—production, marketing, finance, and management—thereby infusing its asset-light model with transformative efficiency gains and sustainable value.
Safe production activates value, benchmarking empowers the future. Strengthening safety management and cross-departmental collaboration while refining technical supervision mechanisms. Deepening benchmarking management at the farm/station level, closely monitoring key indicators such as power generation and costs, and continuously improving operational efficiency to achieve the goal of "generating high-quality and high-value electricity."
Smart power sales unleash potential, agile services win the market. Building a professional marketing team, enhancing power forecasting accuracy, and optimizing trading strategies. Targeting the high proportion of photovoltaic capacity, prioritizing bundled wind-solar transactions and seeking cooperation with peak-adjustable power sources. Leveraging mid-to-long-term transactions as a "stabilizing anchor" to mitigate spot market risks. Seizing opportunities in green electricity and green certificate trading, proactively positioning in the CCER market to maximize the value of environmental rights.
Asset optimization and capital strengthening, powered by financial innovation reshaping the ecosystem. Following the principle of "profitable revenue and cash-generating profit," and accelerating asset deconsolidation via REITs issuance. Building on the issuance of the nation's first photovoltaic public REITs, incorporating hydropower assets for additional expansion, and launching the first "photovoltaic + hydropower" asset portfolio expansion product, establishing a virtuous cycle of "development-operation-securitization." Optimizing domestic and international fund management, strictly controlling non-productive expenditures, and innovating exchange rate risk control. Broadening financing channels to effectively reduce overall financial costs and continuously enhance shareholder returns.
Lean management empowers value creation, mechanisms revitalize organizational efficiency. On the basis of cost reduction, strictly controlling pre-development costs and exploring innovative models such as phased payments and earn-out agreements. Actively securing subsidies and expanding diverse revenue streams. Strengthening financial training and process oversight, using issue rectification to drive management upgrades and build a lean operational system.
The efficiency revolution is driving the company to accelerate its strategic transformation from scale-driven growth to quality-driven development.
Vitality Engine: Igniting Innovative Transformation with Market-Oriented Mechanisms, Drawing Strength from Accumulated Expertise
Beijing Energy International, with "Fusion Culture" as its spiritual core and market-oriented mechanisms as its powerful engine, sparks organizational innovation vitality, crafting a magnificent chapter of innovative development.
Culture fosters consensus for innovation. Under the cultural guidance of "gathering positive energy, building new consensus, and seeking breakthroughs through innovation," the company has established a deeply integrated cultural ecosystem of talent, wisdom, and business. This cultural soft power is transforming into a solid foundation for driving enterprise development, enabling every employee to become a torchbearer of innovation and allowing every creative idea to take root and flourish in an inclusive and open environment.
Mechanisms ignite innovation vitality. Adhering to the principle of "promoting the capable, demoting the mediocre, and dismissing the unfit," the company has established a market-oriented incentive system, ensuring that every contribution by innovators receives its due reward. By improving trial-and-error tolerance mechanisms, the company fosters a culture of "encouraging innovation and tolerating failure," making innovation not the privilege of a few but the shared pursuit of all employees.
Accumulated expertise instills confidence in innovation. Years of deep industry engagement have endowed the company with profound technical know-how and managerial insight. This foundation is not a burden but a springboard for breakthroughs.
Standing at a new historical juncture, Beijing Energy International, with culture as its soul and mechanisms as its wings, is advancing toward its vision of "become the most respected international player in clean energy investment and operations." In the second half of 2025, the company will uphold long-termism, prioritize value creation and win-win cooperation, and continuously strengthen its core competitiveness through technological innovation and business model optimization, paving the way for higher-quality and more sustainable growth.
SOURCE Beijing Energy International Holdings Co., Ltd.
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