On September 3, the Top 500 Chinese Companies (2011) was officially released in Chengdu. Shaanxi Coal and Chemical Industry Group Co., Ltd. ranked at position 158, increasing by 37 places compared with the rank of 195th last year, with an operating income of 51.566 billion yuan, it had the fastest growth among 8 Shaanxi enterprises among the finalists. According to the annual enterprise net profits, the Top 200 Chinese Enterprises was also released and Shaanxi Coal and Chemical Industry Group Co., Ltd. ranked 35th with a net profit of 8.682 billion yuan, leaping by 107 positions compared with last year’s rank at 142nd, and at the top among Shaanxi enterprises.

As everyone knows, the Annual Development Report of the Top 500 Chinese Enterprises has become a barometer to evaluate the development of Chinese enterprises. In the news conference of the Top 500 Chinese Enterprises (2011) and China Large Enterprise Summit, the Chinese Business Association and China Entrepreneurs Association released the tenth Top 500 Chinese Enterprises list. Compared with the past, in 2011, the threshold for the Top 500 China Enterprise finalists grew to about 14.2 billion yuan, increasing by 28.11%; this is the biggest increase since the 2008 international financial crisis.

According to the report, in terms of seven individual indicators such as profit growth rate, profit rate, and income growth rate, Shaanxi Coal and Chemical Industry Group Co., Ltd. ranked within the top 100, showing an outstanding growth trend.

In recent years, under the leadership of the Shaanxi Provincial Government, Shaanxi Coal and Chemical Industry Group Co., Ltd. has adhered to the strategy of “Developing coal-mining as basic industry, highlighting coal chemical as leading scope, supported by diversified sectors”, continually adjusting the industrial structure, developing the circular economy, extending the industrial chain, and achieving a comprehensive optimization of the industrial structure. The Group has kept deepening enterprise reform, innovated the development model, promoted management, and improved the management level; established and improved the long-term mechanism for safe production, optimized the system configuration, and improved safety stability; established a market-oriented, flexible, technological innovation mechanism and system, and enhanced independent innovation capability and core competitiveness; actively expanded financing channels, carried out financing platform innovation, and matched the capital demand of the company; adhered to the policy of “always pursuing development and always working to benefit all employees”, vigorously pushed for improvements in corporate culture, strived for “diversity, coexistence, and harmony”, and promoted the harmonious development of the Group.

In 2010, the coal production and sales of Shaanxi Coal and Chemical Industry Group Co., Ltd. both exceeded 100 million tons, sales income amounted to 51.566 billion yuan with a total profit 10.5 billion yuan, assets reached 134.4 billion yuan, and the average annual employee income reached 57,679 yuan. In the 11th Five-Year Plan period, the main economic indicators of the Group have grown quickly, sustaining good momentum for doubling growth every two years. The average annual growth rate for coal production is 26.6%, for sales income is 40.1%, for assets 53.3%, for employees’ income 31.3%, and for total profit 169.6%. In the first half of 2011, the economic indicators for Shaanxi Coal and Chemical Industry Group Co., Ltd. achieved a record: from January to June, coal production reached 52.29 million tons, increasing by 16.9%; the production of chemical products reached 3.01 million tons, increasing by 62.7%; sales revenue was 33.682 billion yuan with a profit 6.82 billion yuan, increasing by 49.3% and 94.2% respectively, an amount of increase that led the other large state-owned enterprises in Shaanxi province.

It is expected that at the end of the 12th Five-Year Plan period, the Group will realize 200 million tons of coal production with 200 billion yuan sales revenue, 200 billion yuan fixed investment, 50 billion yuan profits and taxes, and 100 thousand yuan employees’ per capita income, and will develop into a first-class environment-friendly energy and chemical enterprise in China, becoming a global top 500 company. (Sun Peng Li Hua Yao Pingli)

Shaanxi Coal and Chemical Industry Group Co., Ltd. has officially signed to launch a project in Australia

Shaanxi Coal and Chemical Industry Group Co., Ltd., Shaanxi Provincial Coal Geological Bureau, and Australia Shunyuan Company have joined work on a coal resource exploration and development project in Queensland State, and recently a grand signing ceremony was held in Perth, Australia. Zhao Leji, the Communist Party Secretary of Shaanxi Province and leaders from related provincial departments attended the ceremony. Hua Wei, Chairman of Shaanxi Coal and Chemical Industry Group Co., Ltd., Wang Guozhu, General Manager of Shaanxi Provincial Coal Geological Bureau, and Michael Howard, representative of shareholders of Australia Shunyuan Company, all signed a cooperation agreement on behalf of the three parties. This is the first investment project mainly led by Shaanxi Coal and Chemical Industry Group Co., Ltd. in Australia; the project, mainly exploring 11 potential blocks on three main coal forming basins in Queensland State and covering an exploration area of 1,172 square kilometers, is expected to find total coal reserves of 10.4 billion tons. After a year of hard work, the work team has established itself in Australia and has been working for more than two months; the project is now fully mature.

After the signing ceremony, the three shareholders held a meeting with the company's management team. After reviewing the work progress of the company, Wang Guozhu, General Manager of the Shaanxi Provincial Coal Geological Bureau, pointed out that the management team of the company (SAMGRIS) must accept a high sense of responsibility and speed up the progress of exploration to try to achieve results as soon as possible. Dr. Huang Wanfu, a shareholder of Shunyuan Company of Australia, pointed out that SAMGRIS is an Australian registered company; it should adhere to local strategies to fully integrate into the local business environment, comply with local laws and regulations, and apply local social resources. Hua Wei, Chairman of Shaanxi Coal and Chemical Industry Group Co., Ltd., fully affirming the views of shareholders, also pointed out that after the hard work performed by the preliminary team, the legal framework and management teams have basically been formed. The operation of the project should depend on the original base of the Australian shareholders, but should also rely on the coalfield exploration technology of the Shaanxi Provincial Coal Geological Bureau; all members of the management team should keep learning, have mutual respect, and build a model of cooperation. He emphasized that the role of the management team in the company should be made clear, that all the managers sent by shareholders must be responsible to all shareholders, and that the ultimate goal is to maximize the interests of all shareholders, not just any individual shareholder. He pointed out that all overseas projects must respect the local corporate laws and that employees must respect local laws and culture, especially for joint ventures set up with local enterprises, and that different parties must have mutual respect, mutual understanding, and full communication; the company must be integrated into the local culture to build an authentic company. Finally, Song Shijie, director of the Australia project management team said they will implement the instructions of all shareholders, maximize the interests of all shareholders, integrate into the local culture, and make SAMGRIS an overseas company with sound localization.