Beijing Energy International Holding Co., Ltd. Provides Earning Guidance for the Half Year Ended 30 June 2021
August 18, 2021 at 04:42 pm IST
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Beijing Energy International Holding Co., Ltd. provides earning guidance for the half year ended 30 June 2021. The Group is expected to record a consolidated net profit of over RMB 300 million for the Period, representing an increase of no less than approximately 223%, as compared to the unaudited consolidated net profit of approximately RMB 93 million for the six months ended 30 June 2020. The Board believes that the net profit 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.
Beijing Energy International Holding Co Ltd, formerly Panda Green Energy Group Ltd, is an investment holding company principally engaged in solar power plants businesses. The Company is principally engaged in development, investment, operation and management of solar power plants and other renewable energy projects. The renewable energy projects include photovoltaic, wind power, hydropower and other clean energy investment operations. The Company's new energy projects cover China and some overseas regions, including Inner Mongolia, Qinghai, Ningxia, Shanxi, Hubei, Xinjiang, Gansu, Yunnan, Shandong, Jiangsu, Hebei, Guangdong and other places.