Beijing Energy International (00686): Beijing Jingyun signed a PC contract with China Construction Second Bureau

According to Zhitong Finance App, Beijing Energy International (00686) announced that on December 24, 2025, Beijing Jingyun (a wholly-owned subsidiary of the Company, as the contractor) signed a PC contract with China Construction Second Bureau (as the contractor). According to the PC contract, China Construction Second Bureau will provide PC services to Beijing Jingyun to build the PC project. The contract price under the PC contract is approximately RMB 136 million (tax included).

The target was that China Construction Second Administration agreed to provide PC services to Beijing Jingyun as a PC contractor to build a PC project (a photovoltaic power generation project located in Mujiayu Town, Miyun County, Beijing, China, with a total planned construction capacity of 60 megawatts). PC services under the PC contract include (including) matters relating to the procurement, construction, installation, inspection, trial operation and final delivery of equipment, as well as external transmission line engineering and related coordination matters. It also covers the processing of all regulatory approval procedures and compliance procedures relating to PC projects and bears all associated costs. China Construction Second Bureau will construct and complete the construction work of the PC project in accordance with the PC contract, and repair any faults or defects in the PC project carried out under the PC contract during the one-year warranty period.

The Group continues to expand the scale of its clean energy and renewable energy business and optimize its business structure. The signing of the PC contract is in line with the Group's development strategy and the country's policy policy to promote the development of renewable energy and clean energy bases. This move will support the Group's continued expansion of its photovoltaic power generation project portfolio, optimize asset structure and enhance operational flexibility. It is expected to help promote the Group's sustainable development and create long-term returns for shareholders.

In view of the above circumstances, the directors have reviewed the PC contract and believe that the terms and conditions of the PC contract are fair and reasonable, and that the proposed transactions under the relevant contract are based on general commercial terms and conform to the overall interests of the Company and shareholders.