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Yankuang Group Debuted in the 2018 Fortune Global 500 List

2018-07-19 19:56:14

On the evening of July 19, 2018 Fortune Global 500 list was officially announced. Yankuang Group debuted in the list with its strong performance growth, stable operating strength and international competitiveness, ranking No.399 with operating revenue of US$29,474 million.

The Fortune Global 500 list, having been the most famous and authoritative list of the world's large-scale companies, is known as the "Ultimate List" which is published annually by Fortune Magazine.

Yankuang Group’s Debuting in the Fortune Global 500 List is inseparable from its global multi-industry layout and in-depth implementation of multi-dimensional innovation-driven strategy. It is also the embodiment of the enhancement of management capability and comprehensive competitiveness.

Yankuang Group commenced its business in the early stage of China’s Reform and Opening-up. It has evolved from a few small coal mines with annual production of less than 1 million tons to a global industrial group mainly engaged in coal, coal chemicals, equipment manufacturing and financial investment. Especially since the 18th National Congress of the Communist Party of China, confronted with the most brutal depression in the coal market in this century, Yankuang Group spent 5 years to surpass the entire achievements made in the past 4 decades by way of strengthening its operational management. From 2014 to 2016, coal production, operating revenue and total assets have increased by 35.59%, 35.93% and 22.43%,respectively, compared with those of year 2013. In 2017, Yankuang Group ranked among the top five in the Chinese coal industry and the top seven across the globe with coal production of 135 million tons, operating revenue of RMB199.2 billion, PBT of RMB15.7 billion and total assets of RMB287.8 billion at the end of the year. In the first half of 2018, the coal output was 81.82 million tons, and the total profit and operating revenue achieved RMB3.3 billion and RMB120 billion, respectively. The total assets of the Group has exceeded the threshold of RMB300 billion.

Li Xiyong, secretary of the Party Committee and Chairman of Yankuang, expressed that:Yankuang’s debut in Global 500 benefited from people who have shown care, support, trust, and encouragement to Yankuang. Therefore, I want to show sincere gratitude to them all. Meanwhile, this is a great recognition of the achievements of Yankuang's continued efforts, and it will further encourage Yankuang to continue to innovate and pursue excellence.

In response to the current uncertainty of the global economic growth and the imminent severe challenges for the coal industry's transformation and upgrading, Yankuang Group has implemented a series of super-conventional, groundbreaking and transformative measures so as to cultivate new advantages in the future and strive to build a global world-class enterprise. Focus on the energy strategy and the transformation and upgrading of the coal industry, Yankuang Group will continue to carry out technological innovation so as to actively promote the rapid rise of the three strategic industries of artificial intelligence, data information and new energy.