Beijing Enterprises Urban Development Group Co., Ltd.

Beijing Enterprises Urban Development Group Co., Ltd. was established in June 2010. It was formed by Beijing Enterprises Group (BEG) as a unified real estate business integration and comprehensive management platform within the group, through internal resource integration, aiming to consolidate the group's internal land resources and real estate-related development resources and operation management qualifications, revitalize existing assets, optimize resource allocation, and achieve professional operations. At the end of 2019, BEG split and restructured the original Beijing Enterprises Urban Development Group Co., Ltd. Beijing Enterprises Urban Development Group Co., Ltd. (hereinafter referred to as "BE UD"), as the continuing entity, continues to undertake the construction and operation management of major projects for the national and Beijing municipal governments. BE UD is positioned as the implementation platform for government tasks serving Beijing's "four centers" strategy, which not only requires high-quality and efficient completion of government projects and supporting land development and utilization assigned by the municipal government, but also market-oriented operation of businesses derived from government projects, such as hotels, conferences and exhibitions, leisure and entertainment, and culture and sports. On this basis, it assists the group in seeking government support for revitalizing internal land resources and acquiring businesses and asset transfers needed for group development. The registered capital of BE UD is RMB 11.563 billion. Its main subsidiaries include Beijing Enterprises International Conference City Real Estate Development Co., Ltd., Beijing Enterprises Jing'ao Construction Co., Ltd., Beijing National Alpine Skiing Co., Ltd., Beijing Optical Instrument Factory, among others. The Yanqi Lake International Conference City, invested and constructed by BE UD, successfully hosted the 22nd APEC Economic Leaders' Meeting on November 11, 2014, and hosted the first and second Belt and Road Forum for International Cooperation in May 2017 and April 2019, respectively. Since 2016, it has undertaken the construction and operation tasks for venues in the Yanqing competition zone for the 2022 Winter Olympics and Paralympics.