Reorganization of the three major coal companies in Shanxi: benchmarking against the National Energy Group and becoming the second largest coal company in China
On the evening of October 8, Datong Coal Industry Co., Ltd. (hereinafter referred to as "Datong Coal Industry", 601001) issued an announcement stating that it had received a notice from the controlling shareholder Datong Coal Mining Group Co., Ltd. on the preparation of Jinneng Holding Group Co., Ltd. "The latter will unite several coal companies in Shanxi to form Jinneng Holding Group Co., Ltd. (hereinafter referred to as "Jinneng Holding Group").
The notice mentioned that in order to take advantage of the industrial clusters of energy enterprises in Shanxi Province, increase the concentration, and promote a major breakthrough in the comprehensive reform of the energy revolution, it plans to jointly reorganize Datong Coal Mine Group Co., Ltd. (hereinafter referred to as "Dongmei Group") and Shanxi Jincheng Anthracite Coal Industry Group Co., Ltd. (hereinafter referred to as "Jinmei Group") and Jinneng Group Co., Ltd. (hereinafter referred to as "Jinneng Group") are three provincial coal enterprises that simultaneously integrate Shanxi Lu'an Mining (Group) Co., Ltd. ( (Hereinafter referred to as "Lu'an Group"), related assets of Huayang New Material Technology Group Co., Ltd. (referred to as "Huayang New Material Technology Group") and the reformed China (Taiyuan) Coal Trading Center to form Jinneng Holding Group.
On the same day, two other listed companies in Shanxi, Shanxi Zhangze Electric Power Co., Ltd. ("Zhangze Electric Power", 000767) and Shanxi Tongbao Energy Co., Ltd. (hereinafter referred to as "Tongbao Energy", 600780) also simultaneously issued relevant announcements.
Among them, the controlling shareholder of Zhangze Power is Datong Coal, and the controlling shareholder of Tongbao Energy is Jinneng Group.
Public information shows that the registered address of Jinneng Holding Group is Datong City, with a registered capital of 50 billion yuan. The main leaders are from the three coal companies that are the main body of integration.
The chairman of the group is Guo Jingang, chairman of Datong Coal Group, and the vice-chairmen are Li Guobiao, chairman of Jinneng Group, Li Hongshuang, chairman of Jinmei Group, and Cui Jianjun, general manager of Datong Coal Group. Li Guobiao also serves as general manager of the group.
Datong Coal Group, Jinneng Group and Jinmei Group are all seven coal companies in Shanxi Province.
According to data from the China Coal Industry Association, the coal output of the above three companies last year was 179 million tons, 92.19 million tons and 70.92 million tons, totaling approximately 342 million tons.
This also means that the newly formed Jinneng Holding Group will surpass the reorganized Shandong Energy Group and Yankuang Group and become China's second largest coal company after the National Energy Group.
According to the website of Datong Coal Group, Jinneng Holding Group held a meeting of the Standing Committee of the Party Committee on October 8 to deliberate the implementation plan for the preparation, matters related to the confirmation of the assets of coal, electric power, and coal machinery equipment manufacturing projects, as well as related systems and company articles of association.
The meeting emphasized that it is necessary to further improve the implementation plan for the integration and reorganization of Jinneng Holding Group, and accelerate the integration and reorganization; it is necessary to effectively strengthen the investigation of the assets and resources of each group, "one mine, one policy" and "one company, one policy". Do a good job in the integration of coal, power plants and equipment manufacturing.
At the same time, relevant departments should further improve the company's articles of association, speed up various matters such as company registration and change, and ensure that Jinneng Holding Group is put into operation as soon as possible.
In May last year, Shanxi Province, as the main coal producing area and energy base in China, formally became the country's first comprehensive reform pilot for energy revolution.
In September last year, 15 major initiatives for the comprehensive reform of Shanxi’s energy revolution pilot projects were released. They mentioned the need to accelerate the reform of state-owned enterprises in the energy sector, build a first-class super-large energy group, and rely on leading energy companies to promote industry mergers and reorganizations and upstream and downstream integrated operations. It is a leading domestic and world-class super large energy group based on bases and coal types.
It can be seen that the pace of mergers and reorganization of Shanxi coal industry is accelerating.
In April this year, Shanxi Coking Coal Group announced that it would merge and reorganize with another provincial coal company, Shanxi Coal Import and Export Group; in July, Lu'an Chemical Group Co., Ltd. was established as a platform for the integration and reorganization of Shanxi Coal Enterprise's chemical business; in September, Jinmei Group Subordinate Shanxi Gas Group Co., Ltd., Guoxin Energy Development Group Co., Ltd. and Shanxi International Energy Group Gasification Investment Management Co., Ltd., a subsidiary of Shanxi International Energy Group Co., Ltd., implemented reorganization to form Huaxin Gas Group Co., Ltd.
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The paper reporter Chen Lingyao