On March 24, 2023, Jiang Fan, party secretary and chairman of Beijing Energy Holding, Kan Xing, deputy party secretary and president, vice president Chen Guogao and vice president Sui Xiaofeng, and heads of relevant departments and offices supervised Beijing Energy International. Beijing Energy International’s senior management team, directors and heads of relevant departments attended the meeting.
During the meeting, the supervisory team listened to the special work report made by Zhang Ping, party secretary and chairman of the Board of Directors of Beijing Energy International, and the participants had in-depth exchanges on key tasks such as strategic development, business expansion, capital operation, risk control and innovative Party-building of the company.
Since its restructuring in February 2020, Beijing Energy International has set the mission of “building a first-class international clean energy provider, green investor and operator”. The company has made concerted efforts and braved many difficulties, refined the development path of the 14th Five-Year Plan based on the principle of “integrating reserve bases, synergized development and international expansion” to foster the business layout of “One Center, Two Loop lines and One Focus”. It business map has gradually expanded from photovoltaic power generation to clean energy such as wind power and hydropower, as well as hydrogen energy, energy storage and integrated energy. Its installed capacity in operation has increased from less than 2GW to 6GW. Its total operating and equity installed capacity has exceeded 12.9GW, and its long-term reserve has exceeded 20GW. In the first year of restructuring, the company was restored to profitability, and the total profit has reached record highs. While seizing development opportunities, the company has constantly innovated its financing channels and optimized debt structure, and it was assigned with Long-Term Foreign-Currency IDR of ‘A’ by Fitch Ratings and “AAA” long-term issuer credit rating by China Lianhe Credit Rating Co., Ltd., and was approved with China’s first photovoltaic public offering REIT which will be issued shortly. It has taken multiple measures to improve the cost-effectiveness and its production and operation as well as the development efficiency. It has strengthened risk management and control, improved team building. Practical results have been achieved in terms of comprehensive management, internal governance and business management. The company has always maintained a strong trend of high quality, high efficiency and rapid development.
Sui Xiaofeng pointed out that it is necessary to maintain a strong momentum of market expansion, strengthen project construction, and attach importance to the consistency of project development and operation, promote the construction of key energy base projects, optimize the innovation mode of business development, promote overseas business in an orderly manner and further increase the support of Beijing Energy Holding.
Chen Guogao pointed out that it is necessary to continue to innovate financing channels, strengthen equity finance and capital operation, promote the optimization of property rights in an orderly manner, continue to strengthen financial work and improve the efficiency of fund use, he said that Beijing Energy Holding would fully support the high-quality and rapid development of the company.
Kan Xing said that thanks to the company’s concerted efforts and entrepreneurial spirit, it is now experiencing a strong and rapid development momentum and its remarkable achievements are living up to the expectations of Beijing Energy Holding. In view of the key tasks of the company in the next phase, he stressed the following points:
First, optimize the company’s strategic positioning. The company should analyze the development trend of domestic and foreign markets, optimize its development positioning, implement the layout of feature industries, focus on priorities, strengthen the regional business layout, integration and coordination of existing domestic markets.
Second, strengthen the basic management. Benchmark itself with the world’s first-class companies, focus on the “Five Fine Management”, continue to enhance its management capacity, and build a robust and competitive team with international vision and managerial and innovative capabilities.
Third, innovate financing measures. Give full play to the role of the market, strengthen communication, constantly innovate financing channels, strengthen equity finance, focus on introducing strategic investors to break the bottleneck of funds, and maintain the high-quality and high-speed development trend.
Fourth, improve the system and mechanism. Beijing Energy Holding will further delegate power to ensure that the company can fully release its advantages and vitality of the market-oriented system and mechanism, continuously optimize its operating system and incentive mechanism to bolster market competitiveness.
Fifth, uphold digital transformation. Strengthen digital empowerment, continuously improve management efficiency as well as risk prevention and risk control capabilities.
Sixth, the relevant departments and offices of Beijing Energy Holding will analyze and address the issues needing coordination, and fully support the sustainable, healthy and rapid development of the company.
Jiang Fan said that as the leading company of Beijing Energy Holding’s development, the company has been committed to “building itself as a model for the reform of state-owned enterprises” and has always maintained a good and strong development momentum with vigorous enterprising spirit, and its achievements deserve full recognition. In view of the future development of the company, he highlighted the following aspects:
Firstly, build the core competitiveness. We should continue to strengthen the market development ability, maintain the efficiency of decision-making, carry forward the spirit of “making every endeavor, overcoming every barrier by all manner of means”, innovate and deepen the market development mode, enrich the means to seize market share and enhance the ability to obtain resources. It is necessary to continuously strengthen the construction and management capabilities with high standards, take a closer look at the improvement of construction and management capabilities, lay a solid foundation for future operations, and maintain the overall improvement of enterprise development and construction capabilities. It is necessary to continuously strengthen the capital operation ability, focus on the long-term development positioning, maximize the benefits, strengthen the confidence of transformation and upgrading, focus on differentiated development paths, innovate development modes to realize the benign cycle of “capital-assets-assets -capital”.
Secondly, promote the reform of state-owned enterprise. Set clear benchmarking objectives, be interests-and-benefits-driven, analyze the upgrading mode of production and operation with market-oriented ways, and explore the direction of enterprise transformation and development. Beijing Energy Holding will further delegate power to the company to the maximum extent, and supervision should be strengthened to promote the reform of SOE to a deeper level. Improve the salary mechanism, incentive mechanism and evaluation mechanism, fully unleash the vitality of market-oriented system and mechanism and maintain the high-quality development trend with long-term high-speed growth.
Thirdly, strengthen Party-building innovation. Adhere to the leadership of the Party, get rid of bureaucracy and formalism, focus on high efficiency and improve production and operation, enhance cohesion and vitality, improve the centripetal force of corporate culture, give full play to the role of grassroots Party organizations and Party member pioneers and actively innovate Party-building for the high-quality and high-speed development.
