[ET Net News Agency, 19 August 2021] Beijing Energy International Holding Co., Ltd.
(00686) said for the six months ended 30 June 2021, the group is expected to record a
consolidated net profit of over RMB300 million, representing an increase of no less than
approximately 223%, as compared to the unaudited consolidated net profit of approximately
RMB93 million for the six months ended 30 June 2020.
It was mainly due to (i) the acquisitions of various power plants with aggregate
installed capacity of more than 735 megawatts by the group during the period, leading to a
significant increase in the installed capacity controlled by the group which further
increased the group's revenue from power generation; (ii) the bargain purchase gain
arising from business combinations during the period; (iii) Beijing Energy Holding Co.,
Ltd., the controlling shareholder of the company, having fulfilled its undertaking to
provide credit enhancement support to the company and the company having carried out
re-financing activities, which effectively lowered the finance costs of the company. (RC)