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Shanxi Coal Transportation and Sales Group Co., Ltd. (referred to as “Shanxi Coal Sales Group”) is a large scaled modernized coal logistics group which is contributed by Shanxi State-owned Assets Management Committee and 11 municipal State-owned Assets Management Committee with the net assets of the coal transportation and sales sectors owned by them. The company possesses the registered capital of RMB 10.156 billion yuan and total assets of 28 billion yuan. The business scope of the company is as follows: sale of coal and coke, investment in the development of coal enterprises and coal and coke technology development, technology transference, coal chemical and coal power generation etc.
Shanxi Coal Transportation and Sales Group Co., Ltd, formerly known as Shanxi Coal Transportation and Sales Inc., was founded in 1983, whose main business is responsible for the unified management and sale of the local coal transportation and sale in the province. The company has sold 2.8 billion tons coal and coke in the past 23 years since its establishment, with the profit and tax of RMB 22.5 billion yuan and the paid coal specialized fund of RMB75 billion yuan. The company has been developing, to form the annual coal storage and transportation capacity of 350 million tons and the annual production capacity of 28 million tons, and the company has been the largest coal transportation and sales enterprise. In 2006, the company sold 218 million tons coal with the sale revenue of RMB63.1 billion yuan and the profit and tax of RMB5.55 billion yuan, ranking the 82nd in the Largest 500 Enterprises in China and the 3rd in the top 100 coal enterprises in China, listed in the first bloc of three blocs of large enterprises and large groups to be cultivated in the 11th five-year-plan.
The newly founded Shanxi Coal Transportation and Sales Group Co., Ltd. will divestiture the operating business, namely coal transportation and sale, coal production, coal chemical industry, and its assets, attract the strategic investors and establish the joint stock company invested by diversified sources, and strive for the overseas IPO, build the group into a larger and stronger company. Meanwhile, the proposed China (Taiyuan) Coal Market and Shanxi International Expo Center, in which the group will be chairman unit, is under the preparative establishment and the projects are scheduled to put into operation before 2009. The operation of the two projects will enhance the core competitiveness and profit making strength of the group.
In the 11th five-year-plan, Shanxi Coal Sales Group will adhere to the scientific development idea, seize the opportunity generated from “rationalizing the property rights relationships, assets reorganization and Overseas IPO”, aim to build up a large scaled coal modernized logistics group with the coal transportation and sales as the operating business, and coal production, processing and conversion and coal chemical integrated into one, advance with the times and exploit and innovate, based on the functions endowed by the provincial government, namely unified price, unified sale and unified competition, the company will strive for the realization of sales volume of coal of 240 million tons and sales revenue of RMB 66.2 billion yuan and the coal production capacity of 50 million tons by 2010, the group will play the leading role in the transportation and sale of local coal and reinforce the leadership in the coal market in China. |
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