BJ Energy International (00686) plans to invest approximately RMB 371 million to acquire a 70% equity stake in Yangzhou Tairun New Energy Power Development Co., Ltd.

BJ Energy Intl (00686) announced that on December 22, 2025, its wholly-owned subsidiary, Jingneng International (Gaoyou) New Energy Co., Ltd., intends to acquire 70% equity of Yangzhou Tairun New Energy Power Development Co., Ltd. from Gaoyou Yongtai Enterprise Operation and Management Co., Ltd., for a consideration of approximately RMB 371 million (including taxes). The board believes that the acquisition is in line with the group's development strategy and provides an opportunity to further expand its clean energy portfolio, optimize its asset structure, and align with the long-term focus on the clean and renewable energy sector. It also aligns with the macro trend towards the transformation to a green and low-carbon energy system and China's 14th Five-Year Plan goals. In addition, the acquisition is expected to enhance the group's operational scale and asset base, generate potential operational synergies through integrated management and effective resource allocation, and strengthen the group's overall competitiveness in the clean energy market, thereby supporting its sustainable development. Upon completion of the acquisition, the target project's installed capacity will reach approximately 460 megawatts, which is geographically close to the group's existing photovoltaic power project in Gaoyou City, Jiangsu Province. This proximity is expected to generate potential synergies in project management, operational efficiency, and overall power generation capacity, with the anticipation of enhancing the group's profitability.