Mission Statement, Vision, & Core Values (2026) of Power Assets Holdings Limited.

Power Assets Holdings Limited (0006.HK) stakes its future on a clear mission-'to be a global investor in energy and utility-related businesses, providing clean, reliable and affordable energy solutions'-and a bold vision to reach net zero carbon emissions by 2050, while leveraging a diversified portfolio that spans electricity, gas, oil, waste-to-energy and renewables; the group, majority shareholder of The Hongkong Electric Company which serves over 19 million customers, already operates 1,064 MW of generation from renewable and energy‑from‑waste sources, delivered industry-leading reliability with HK Electric recording supply performance above 99.9999% in 2024, and underpins stakeholder returns with a reported net profit of HK$6,119 million for the year ended December 2024 (up 2%) alongside strategic targets such as ramping gas-fired generation to about 70% in Hong Kong by March 2024 and phasing out coal by 2035-read on to see how these mission, vision and core values translate into concrete investments, governance choices and measurable outcomes across markets.

Power Assets Holdings Limited (0006.HK) - Intro

• Listed entity: Power Assets Holdings Limited (0006.HK)
• Primary sectors: Electricity, Gas, Oil, Waste-to-Energy, Renewable Energy
• Major holding: Majority shareholder of The Hongkong Electric Company (serving >19 million customers)
• Renewable & EfW capacity: 1,064 MW of generation capacity from renewable energy and energy‑from‑waste sources
• Latest reported net profit (Dec 2024): HK$6,119 million (up 2% year‑on‑year)

Mission

• Deliver safe, reliable and affordable energy to customers across our markets.
• Accelerate the transition to a low‑carbon energy system by investing in renewables and energy‑from‑waste technologies.
• Create long‑term value for shareholders through disciplined capital allocation and operational excellence.

Vision

• Be a leading regional energy champion that combines legacy utility strengths with innovative, sustainable energy solutions.
• Achieve a balanced energy portfolio that supports energy security, customer needs and decarbonisation goals.

Core Values

• Safety and reliability - prioritise protection of people, assets and supply continuity.
• Sustainability - commit to measurable reductions in carbon intensity and growth in non‑fossil generation capacity.
• Integrity and stewardship - govern transparently and responsibly for stakeholders and communities.
• Innovation - adopt efficient, scalable technologies across generation, distribution and customer services.
• Customer focus - ensure affordability, accessibility and high service standards.

Strategic Priorities and Key Metrics

How Mission, Vision & Values Translate into Action

• Investment: Prioritise capex into renewables and EfW projects to expand the 1,064 MW low‑carbon portfolio.
• Operational excellence: Maintain reliability for >19 million customers via asset upgrades and grid resilience programmes.
• Financial discipline: Target stable shareholder returns supported by steady net profit - HK$6,119 million in Dec 2024 (+2%).
• Stakeholder engagement: Uphold governance and community partnerships to align social licence with long‑term strategy.

Power Assets Holdings Limited (0006.HK) - Overview

• Global investor focus: diversified holdings across Hong Kong, Mainland China, Australia, the UK, New Zealand and other markets.
• Clean energy commitment: significant capital directed to renewables, grid modernisation and low‑carbon generation assets.
• Reliability and affordability: investments balance baseload/dispatchable assets with intermittent renewables to ensure system stability and customer affordability.
• Customer scope: targets both residential and commercial segments with utility services, distributed energy solutions and investment partnerships.

• Renewable capacity expansion: ongoing development and acquisition of wind, solar and battery storage projects to increase low‑carbon output.
• Grid & network investments: upgrades and digitalisation to improve reliability and integrate distributed energy resources.
• Cross‑jurisdiction diversification: equity stakes and long‑term contracts that reduce single‑market exposure and capture growth in emerging energy markets.
• Affordability initiatives: asset optimisation and efficiency programmes aimed at reducing levelised cost of energy and protecting consumer tariffs.

• Investment allocation: increasing proportion of capital directed to low‑carbon projects and grid resilience investments year‑on‑year.
• Capacity growth: incremental MWs of wind, solar and storage added through greenfield development and acquisitions.
• Operational reliability: sustained high availability and reduced system interruption minutes through network upgrades.
• Customer impact: targeted measures to limit tariff volatility and deliver efficient utility services to households and businesses.

• Diversification: broad regional exposure reduces regulatory and market concentration risk while capturing growth in energy transition markets.
• ESG integration: alignment of capital deployment with climate goals and stakeholder expectations enhances long‑term resilience.
• Income profile: utility‑style cash flows combined with growth from clean energy investments aim to support stable dividends and capital appreciation.

Power Assets Holdings Limited (0006.HK) - Mission Statement

• Net-zero transition: phased decarbonisation pathways across generation and network assets to reach net zero by 2050, with interim targets to 2030 and 2040.
• Sustainable growth: prioritise acquisitions and reinvestment in mature, well-regulated markets (UK, Australia, New Zealand, Mainland China and Hong Kong) that provide stable cashflows and regulatory clarity.
• Risk-managed capital allocation: focus on high-quality, regulated or long-term contracted assets to protect dividend capacity while enabling green investments.
• Stakeholder alignment: integrate stakeholder and community expectations into project selection and asset operation, emphasising social licence and ESG transparency.

• Capital deployment mix: balancing maintenance capex for existing regulated networks with growth capex for renewable generation and energy transition projects.
• Asset-level targets: converting thermal generation to lower-carbon alternatives or contracting offsets where immediate replacement is not feasible.
• Rate-base and tariff engagement: working with regulators to secure cost recovery for grid modernisation and resilience investments to preserve regulated returns.
• Operational efficiency: targeted reductions in system losses, improvements in plant utilisation and grid digitalisation to cut emissions intensity per MWh.

• Preference for assets with long-term contracts or regulated returns to protect dividend capacity while enabling green investments.
• Prioritisation of projects demonstrating measurable emissions reductions (e.g., utility-scale renewables, battery storage paired with renewables, efficiency upgrades to networks).
• Investment only in jurisdictions with stable regulatory frameworks and explicit pathways for energy transition investments.

Power Assets Holdings Limited (0006.HK) - Vision Statement

• Reliability and Stability - unwavering focus on uninterrupted energy delivery; HK Electric reported world‑class supply reliability of over 99.9999% in 2024.
• Sustainability and Innovation - commitment to green energy and technology, targeting ~70% gas‑fired generation of HK Electric's total output by March 2024 and a full phase‑out of coal‑fired generation by 2035.
• Prudent Investment and Growth - disciplined allocation to appropriately priced businesses in well‑regulated, mature markets that yield predictable cash flows and long‑term capital preservation.
• Stakeholder Value Creation - focus on returns to shareholders and community benefits, reflected in operating results and dividend policy.

• Strategic approach: invest in regulated utilities and infrastructure with predictable earnings, maintain strong balance sheet discipline, and target returns via dividends and long‑term capital growth.
• Operational priorities: maintain world‑class reliability metrics, expand lower‑carbon generation mix, and adopt innovations that enhance efficiency and resilience.
• Stakeholder commitments: deliver consistent dividend policy while funding transition investments and contributing to local community and environmental objectives.