Over decades of development, from weakening to strengthening, from a small beginning into a mighty force, Yankuang Group has undergone 4 phases with overall strengthen continuously enhanced and brand reputation persistently improved.
From 1966 to 1989: Development and Construction In 1966, Mr. Zhou Enlai, China's former Premier, initiated the development of Yanzhou Coalfield and Yanzhou Coal Mining Bureau was established on 21 July 1976. Over 20 years struggle till 1989, total industrial output value was increased from RMB24 million to RMB310 million and coal capacity from1.16 million tones to 12.85 million tones, respectively, with actual coal production of 10.03 million tons in 1989. On that occasion, Yanzhou Coal Mining Bureau has stepped into top ten coal bureaus with coal production capacity reaching 10 million tons, realizing the first leapfrog in production scale.
From 1990 to 2000: Production Enhancement and Capacity Expansion With the commercial production of Jining III Coal Mine in 2000 and over 34 years of development, Yankuang Group has realized its second leap with annual coal production of 30.40 million tons, operating revenue of RMB58.88 billion and total assets at year-end of RMB117.28 billion.
From 2001 to 2012: Development and Exploration Yankuang has expanded development beyond Shandong Province even into overseas market and coal production bases covering Shaanxi, Inner Mongolia, Guizhou, Xinjiang, Australia and Canada have subsequently set up. Yancoal Australia, an investment and industrial platform in Australia, was incorporated and 19 potash exploration permits were obtained in Canada. Furthermore, Yankuang has developed its non-coal businesses including coal chemical, electrolytic aluminum, equipment manufacturing, etc, and some coal chemical companies were established. In 2012, Yankuang Group achieved coal production of 76.17 million tones, coal chemicals of 4.3 million tons with operating revenue of RMB100.29 billion and total assets at year-end of RMB184.58 billion, which has formed integrated framework of the Group's core businesses.
From 2013 to ~: Overtaking Under Adverse Situation Confronted with the adverse situation of coal industry downturn and over 95% coal companies in deficit, remain true to our original aspiration and keep our mission firmly in mind, keep going under pressure, Yankuang has formulated a series of extraordinary measures, taken only 5 years in surpassing development achievement obtained in the previous 40 years and has positioned in a new height: coal production increased from 70 million tones to 135 million tons with ranking from No.16 to No.6 among China coal companies; chemicals production of 7.97 million tons and methanol production in the top rank among domestic market; total assets at year-end of RMB275 billion and operating revenue of RMB190 billion.