Yankuang Group Co., LTD (“Yankuang Group”) is an extra-large SOE energy enterprise mainly engaged in coal, coal chemicals, equipment manufacturing and financial investments. It is the only Chinese coal enterprise that has four listing platforms at home and abroad. Since construction commencement at the end of 1960s, Yanzhou Coal Mining Bureau was established in 1976, incorporated as Yankuang Group in May 1999 and reformed as the first state-owned capital investment company of Shandong Province in 2015. As at the end of 2017, Yankuang Group realized the total assets of RMB275 billion with 94,000 employees.
In the past forty years of development, Yankuang Group has built an industrial layout of "Six Bases" comprising Shandong headquarters, Shaanxi and Inner Mongolia, Guizhou, Xinjiang, Australia and Canada. It has grown into a large-scale enterprise with annual coal production capacity over 100 million tons, operating revenue over RMB100 billion and total asset over RMB200 billion in 2016. Yankuang Group hopefully is making the list of the Fortune Global 500 with coal output of 135 million tons, operating revenue of RMB195 billion, total profit and tax of RMB13.8 billion, and a total profit of RMB4.562 billion in 2017, the highest level over the past five years. For the chemical industry, it has realized the production capacity of annual oil output amounting to1 million tons, methanol, acetic acid and down-stream products amounting to 9 million tons. Furthermore, the first set of coal-to-liquid demonstration facilities with its own intellectual property right have been put into commercial production with annual oil output of 1 million tons. The "Four-in-One" financial investment platform has been formed in Shanghai, Shenzhen, Beijing and Qingdao, with financial assets reaching RMB80 billion.
Yankuang Group has outstanding technological research and development and application transformation capabilities in the coal and chemical industries. It has successfully developed advanced technologies such as fully mechanized top coal caving in the thick coal seam, coal slurry gasification, pulverized coal pressurization and gasification, indirect coal liquefaction and other leading domestic and world-class core technologies. In recent years, it has undertaken more than 20 national key projects such as "863" and "973", won 1 Grand Prize of National Science and Technology Progress Award and 18 National Science and Technology Awards, and realized the fundamental leap forward in dominant industry from technology introduction, digestion and absorption to innovation development. Yankuang Group has successively won the honors of National Outstanding Enterprise ("Golden Horse Award"), the Second China Industrial Awards, and Advanced Enterprise of "Going Global". Yanzhou Coal, a controlled subsidiary of Yankuang, won the Global Excellence Performance Award and the Golden Sail Award for Outstanding Corporate Governance of Listed Companies in 2017. It ranked No. 6 among the top 10 mining companies with best market value growth in Top 50 global mining companies by market value in 2017, with an increase of 59.73%.
Yankuang Group is conscientiously implementing the national "One Belt, One Road" initiative and the requirements for the deployment of an open economy in Shandong Province. It has optimized and perfected its development plan for the "13th Five-Year Plan", striving to achieve total annual sales of 180 million tons of clean coal products and 10 million tons of the high-end oil products and fine chemicals, modern services and strategic emerging industries accounting for over 50%, and planning to realize assets of RMB100 billion, operating income of RMB250 billion, profits and taxes of RMB20 billion in financial investment by 2020, so as to build a new globalized energy group and the industry & finance consortium.