VVIP Buyers
On November 28, 2017, China Energy Investment Corporation Co., Ltd. ("China Energy") was established through the merger of China Guodian Corporation and Shenhua Group Corporation with the approval of the CPC Central Committee and the State Council. The Company is a key central state-owned energy enterprise that integrates the "Four Pilots": a pilot of central SOEs merger and reorganization, a pilot of state-owned capital investment company reform, a pilot world-class model enterprise, and a pilot SOEs corporate governance model enterprise. In 2023, China Energy ranked 76th in the Fortune Global 500.
China Energy operates the whole industry chain across coal, electric power, chemical and transport across 31 provinces, autonomous regions and municipalities in China, and over ten countries and regions globally such as Russia and South Africa. By the end of 2022, the Company has 311,000 employees and total assets of RMB1.9 trillion, running 650 million tons annual coal production capacity, 290 gigawatts installed power generation capacity, an exclusive railway network of 2,408 kilometers, seaborne ports with 290 million tons annual handling capacity, and 5.31 million tons coal-to-liquids annual total production capacity. China Energy owns two A+H share listed companies – China Shenhua and Longyuan Power, five A-share listed companies – GD Power, Changyuan Power, Younglight Chemicals, Longyuan Technology, and Western Venture. The Company also possesses more than 1,000 production subsidiaries, 12 R&D institutes and 20 technology enterprises.
In 2022, China Energy produced and sold 600 million tons and 790 million tons of coal, respectively, generated 1.1 trillion kWh of electricity, delivered 470 million tons of freight through its railways and produced 29.34 million tons of chemicals (including main intermediates). Its operating income stood at RMB817.9 billion, registering gross profit and net profit of RMB110 billion and RMB80.2 billion, respectively. The Company’s gearing ratio in 2022 was 58.41%. China Energy was rated Grade A in the corporate operation performance assessment both for 2021 and for 2019-2021 by SASAC. China Energy was also rated Grade A in the Central SOEs Party building evaluation for 2021.
China Energy actively follows national strategies, working to ensure energy security and stable economic growth for the country. The Company carefully implements the new strategy for energy security themed "Four Revolutions and One Cooperation", putting into practice the development strategy of "One Goal, Three Characteristics, Five-pronged Development and First-class Performance in Seven Domains", i.e. centering around the strategic goal of building a world-class energy corporation with global competitiveness, a corporate group that is innovative, leading and value-oriented, while pushing forward development towards environment-friendliness, integration, perfection, intelligence and internationalization for first-class performance in safety, quality, efficiency, technology, talents, branding and Partybuilding.
During the "14th Five-Year" period, China Energy will adhere to the guidance of XI Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implementing the new development philosophy based on the new development stage while contributing to the new development paradigm. The Company will uphold the corporate purpose of "Powering Social & Economic Development", undertake the corporate mission of being a "Stabilizer of Energy Supply and Pioneer in Energy Revolution", and put into practice the core values of"Green Development & Pursuit of Excellence" while carrying forward the corporate ethos of "Doing Solid Work, Dedicated, Innovative and Striving to Be the Best". We will promote high-quality development and take firm action to grow stronger, better and bigger, in a bid to accelerate the building of a world-class energy corporation with global competitiveness and make greater contributions to developing China into a great modern socialist country and realizing the Chinese Dream of national rejuvenation.