On December 15, 2023, the No.2 preferred asset-backed securities (renewable) of Beijing Energy International’s phase-I carbon-neutral, green, renewable ABS backed by the receivables of state subsidy were successfully issued on the Shanghai Stock Exchange, with a total issuance amount of 682 million yuan, a duration of 0.5 years, and a coupon rate of 2.97%. The company is assigned a long-term AAA rating by China Lianhe Credit Rating Co. Ltd. The manager of this plan is China Merchants Securities Asset Management Co., Ltd. and the sales agents are China Merchants Securities and Ping An Securities. Beijing Energy Holding provides the deficiency payment commitment.

The successful renewal of the preferred ABS fully reflects investors’ recognition of Beijing Energy International’s achievements in continuously optimizing its financing structure through innovative financing channels. In addition, it has a good demonstration effect for major clean energy power generation enterprises to cope with the widening gap of renewable energy subsidies and revitalize the existing subsidies receivable.