A new coal giant was born in the great integration of Shanxi coal industries.
Recently, Shanxi Provincial party committee decided to recombine Shanxi Jincheng Anthracite Coal Mining Group, Jinneng Group, Datong Coal Mine Group, Lu’an Group, Huayang New Material Tech Group and China Taiyuan Coal Transaction Center after the reform into Jinneng Holding Group Co, Ltd.
Jinneng Holding Group will become the second largest coal company in China.
According to China National Coal Association, coal output of China Energy Group was 515mn t in 2019 and that of China Coal Group was 210mn t, ranking the first and second coal companies in China respectively.
This July, strategic integration was carried out between Yancon Group and Shandong Energy Group, two enterprises under the control of Shandong State-owned Assets Supervision and Administration Commission. Coal output reached 291mn t after combination, exceeding China Coal Group to be the second largest coal company, which was the third one whose annual output went over 200mn t.
After reconstruction, coal output of Jinneng Holding Group registered 424mn t, more than the sum of Yancon Group and Shandong Energy Group.
In 2019, output of Datong Coal Mine Group was 179mn t; that of Jinneng Group was 92.19mn t; that of Lu’an Group was 83.46mn t; that of Jincheng Anthracite Coal Mining Group was 70.92mn t.
Since this year, integration of Shanxi coal companies gained momentum.
In April, Coking Coal Group, the largest coking coal producer in China, reconstructed Shanxi Coal Group.
In July, Lu’an Chemical Group was born after coal chemical sectors of Lu’an Group, Yangquan Coal Industry and Jincheng Anthracite Coal Mining Group were combined.
According to Jiemain, total liabilities of seven Shanxi provincial coal companies were 1.26 trillion yuan, 1.34 trillion yuan and 1.38 trillion yuan respectively from 2016-2018 in an upward trend.
According to the latest data, by the end of the first quarter this year, Yangquan Coal Industry had 194.7bn yuan in debt; Coking Coal Group 262.8bn yuan; Shanxi Coal Group 73.8bn yuan; Jinneng Group 210.5bn yuan; Lu’an Group 191.8bn yuan.
By the end of 2019, Jincheng Anthracite Coal Mining Group had liabilities of 223.1bn yuan; by the end of the third quarter in 2019, Datong Coal Mine Group had liabilities of 279.7bn yuan.
Total debt of seven Shanxi coal enterprises thus reached 1.44 trillion yuan, up 4.3% from 2018 and 14.3% from 2016.
(To contact the reporter on this story: RhettLiu@steelhome.cn or 86-555-2238927 18133440120) |
