Beijing Energy International Holding Co., Ltd. (stock code: 686) announced entering into a series of connected electricity transaction agreements from 1 January 2025 to 31 December 2025 with Beijing Energy Holding Co., Ltd. (BEH) and its subsidiaries. BEH is the controlling shareholder of Beijing Energy International, indirectly holding approximately 32.64% of the issued share capital, making these agreements connected transactions under Chapter 14A of the Listing Rules.

According to the announcement, the total contract amounts under electricity purchase agreements reached 56.09 million renminbi, with 35.61 million renminbi settled, while the electricity sales agreements totaled 95.92 million renminbi, fully settled. The company’s subsidiaries involved in various wind and photovoltaic power projects entered into these bilateral agreements via an official electricity trading platform, aligning with market-based trading mechanisms and State Grid settlement procedures.

The announcement noted that pricing for the transactions is based on fair negotiations within the price ranges published by trading institutions and with reference to electricity spot market prices. The Board expects these agreements to ensure a stable supply of green electricity, support new energy business growth, and secure predictable revenue streams. No independent shareholders’ approval is required, as the highest applicable percentage ratio for each aggregated set of transactions exceeds 0.1% but remains below 5%, thus only reporting and announcement obligations apply.

To prevent future oversights, measures were introduced to strengthen internal controls and timely reporting of connected transactions. The Board considers the terms to be fair, reasonable, and in the interests of the company and its shareholders as a whole, and confirms that the electricity transactions align with ordinary and usual business operations for Beijing Energy International Holding Co., Ltd.