Reorganization of five coal enterprises in Shanxi Province

category:Finance
 Reorganization of five coal enterprises in Shanxi Province


Shanxis coal industry has opened a big integration, and a new coal giant has been born.

Recently, the official websites of Jinneng group, Jinneng group and Tongmei group disclosed that Shanxi provincial Party committee decided to carry out joint restructuring on them, and simultaneously integrate relevant assets of Luan Group and Huayang new material technology group and the reformed China (Taiyuan) coal trading center to form Jinneng Holding Group Co., Ltd. (hereinafter referred to as Jinneng holding group).

On September 30, Jinneng holding group held a study meeting of the central group of the Party committees theoretical study and the (enlarged) meeting of the Standing Committee of the Party committee.

Shanxi provincial Party Committee believes that the establishment of Jinneng holding group is conducive to giving full play to the powerful supporting role of coal as a traditional pillar industry in the cultivation and growth of strategic emerging industries, and is also conducive to cultivating the core competitiveness of energy enterprises in Shanxi Province.

The chairman of Jinneng holding group is Guo Jingang, chairman of Tongmei group; the vice chairman is Li Guobiao, chairman of Jinneng group; Li Hongshuang, chairman of Jinneng group; Cui Jianjun, general manager of Tongmei group. Li Guobiao is also the general manager of Jinneng holding group.

Guo Jingang said at the meeting that relevant departments of Jinneng holding group should further refine the reform plan, and during the restructuring period, all groups should earnestly perform their original functions to ensure the safe and stable progress of restructuring and restructuring.

Jinmei group, Jinneng group, Tongmei group and Luan Group are all seven provincial coal groups in Shanxi Province. The other three groups are coking coal group, Shanmei group and Yangmei group.

Huayang new materials technology group has no detailed public information. According to caixin.com, the company is a new company prepared by the main assets of Yangquan Coal Group.

According to the official website, China (Taiyuan) coal trading center is a trading center approved by the State Council, and is also the coal spot trading market with the largest trading volume, the highest trading volume and the largest number of registered dealers in China.

The newly established Jinneng holding group will become the second largest coal enterprise in China.

According to the data of China Coal Industry Association, in 2019, the coal output of state energy group is about 515 million tons, and that of China Coal Group is about 210 million tons, which are the first and second largest coal enterprises in China.

In July this year, Yankuang Group and Shandong energy group planned strategic restructuring, both of which are actually controlled by the state owned assets supervision and Administration Commission of Shandong Province. After restructuring, the coal production of both sides reached 291 million tons, surpassing China Coal Group to become the second largest coal enterprise in China, and also the third coal enterprise with an annual output of more than 200 million tons.

After restructuring, Jinneng holding groups coal production is about 424 million tons, which will exceed the total of Yankuang Group and Shandong energy group.

In 2019, the output of Tongmei group is 179 million tons, Jinneng group is 92.19 million tons, Luan Group is 83.46 million tons, and Jin coal group is 70.92 million tons.

Since this year, Shanxi coal enterprise integration began to speed up.

In April, coking coal group announced the reorganization of Shanmei group, which is the largest coking coal production and processing enterprise in China.

From 2008 to 2009, Shanxi Province began to implement the largest coal enterprise restructuring in China. As the main body of integration, seven provincial coal enterprises have borrowed heavily to merge small coal mines. However, before the completion of the rectification, the high operating coal price began to dive downward, and the coal industry ended the previous golden decade, and coal enterprises have been burdened with huge debts since then.

Since 2016, coal prices began to rebound, and the losses of seven coal enterprises in Shanxi have narrowed, but the debt is still at a high level. In this context, Shanxi Province plans to start the second round of coal industry merger and reorganization.

In 2017, the Shanxi provincial government announced the 13th five year plan comprehensive energy development plan of Shanxi Province, which made it clear that the three major coal bases in northern, central and Eastern Shanxi will be built. Among them, Jinbei steam coal base cultivates Tongmei group and Zhongmei Pingshuo; Jinzhong coking base cultivates coking coal group; Jindong anthracite base cultivates Yangmei group, Luan Group and Jinmei group.

Wang Yixin, vice governor of Shanxi Province, has repeatedly pointed out that it is hoped that the state-owned coal enterprises in Shanxi Province will be merged into three major enterprises according to coal types, one steam coal, one coking coal and one anthracite.

A staff member of Shanxis seven major coal enterprises once told the interface news that, due to various reasons, this integration work has not been promoted. Until April this year, coking coal group and Shanmei group began to restructure, opening the prelude to the integration of the three bases.

During this period, the integration of Shanxi coal enterprises has been adjusted.

In August 2018, Shanxi SASAC pointed out that Jinmei group, Luan Group, Yangquan Coal Group and coking coal group will respectively take the lead in restructuring the four industry groups of gas, chemical, coal machinery equipment and civil explosive.

In the past few years, the debt of seven coal enterprises is still growing.

According to the interface news statistics, from 2016 to 2018, the total liabilities of the seven major coal groups in Shanxi Province were 1.26 trillion yuan, 1.34 trillion yuan and 1.38 trillion yuan respectively, showing a year-on-year growth trend.

According to the latest data released by various enterprises, as of the end of the first quarter of this year, Yangquan coal group had 194.7 billion yuan of liabilities, coking coal group of 262.8 billion yuan, Shanmei group of 73.8 billion yuan, Jinneng group of 210.5 billion yuan, Luan Group of 191.8 billion yuan.

By the end of 2019, Jinmei group had a debt of 223.1 billion yuan; by the end of the third quarter of 2019, Tongmei group had a debt of 279.7 billion yuan.

Based on this calculation, the latest total liabilities of seven coal enterprises in Shanxi Province have increased to 1.44 trillion yuan, 4.3% higher than that at the end of 2018 and 14.3% higher than that at the end of 2016.

Source: interface news Author: Jiang Fan, editor in charge: Wang Xiaowu_ NF