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Shaanxi Coal and Chemical Industry Group Co., Ltd. Historically Enters Top 300 of Fortune Global 500

/ THE AUTHOR:Shaanxi Construction Machinery shares

 
      In the evening of July 19, list of 2018 Fortune Global 500 was released. Shaanxi Coal and Chemical Industry Group Co., Ltd. ranked the 294th on the list and moved 43 up comparing to the ranking on the previous list. This is the 4th time that Shaanxi Coal and Chemical Industry Group Co., Ltd. entered Fortune Global 500 and 1st time that the group entered top 300 of Fortune Global 500. 
       Shaanxi Coal and Chemical Industry Group Co., Ltd. entered Fortune Global 500 for the 1st time and ranked the 416th in 2015, entered the list for the 2nd time and ranked the 347th in 2016, and entered the list for the 3rd time and ranked the 337th in 2017. In a condition that threshold of Fortune Global 500 increases year by year, Shaanxi Coal and Chemical Industry Group Co., Ltd. still remains a rising trend. This year, Shaanxi Coal and Chemical Industry Group Co., Ltd. entered Fortune Global 500 with sales revenue of US $38.4826 billion (RMB 260.089 billion) in 2017 and had its ranking gone forward, showing a stable rising trend. In the first half of 2018, Shaanxi Coal and Chemical Industry Group Co., Ltd. earned sales revenue of RMB 130.2 billion with year-on-year growth of RMB 9.7 billion and an increase ratio of 8%, and realized a profit of RMB 6.842 billion with year-on-year growth of RMB 2.342 billion and an increase ratio of 52%. Its business performance reached the best in the same period of history and development quality was further improved.
     In recent years, Shaanxi Coal and Chemical Industry Group Co., Ltd. seized opportunities of supply-side structural reform, "Three Eliminations, One Reduction, One Supplement", and other macroeconomic policies, had different emphasis in different layers and industry sectors, and supported advantageous modules. Therefore, industrial distribution was obviously optimized and comprehensive strength & competitiveness were greatly improved. Taking the coal industry of the group as an example, Shaanxi Coal and Chemical Industry Group Co., Ltd. resolutely abandoned outdated capacity of 18.15 million tons and added six high-quality capacity projects in northern Shaanxi and Binxian - Huanglong diggings. Currently, group productivity increases greatly with single well capacity of 6 million tons and mechanization level for multiple work of 98% and high-quality coal increased by near 60 million tons with a ratio of 95% to total output. In the list of “30 Global Coal Enterprises with Top Competitiveness", Shaanxi Coal and Chemical Industry Group Co., Ltd. ranks the 2nd. During adjustment, transformation, and upgrading, chemical industry, iron and steel, electricity, and other industries of the group also reduced costs, increased product variety, improved product quality, increased economic benefits, and obtained obvious transformation and upgrading effects. 
     In order to achieve high-quality development, Shaanxi Coal and Chemical Industry Group Co., Ltd. followed the reform orientation of a state-owned capital investment company, took three-level frame of "group company - industry sector - factories and mines" as an objective, and carried out reform of "returning power to the headquarters, specializing sectors, delayering, and enlivening entities". The group integrated coal, chemical, electricity, railway, and other enterprises into sector enterprises by optimizing resource allocation, gave full play to professional management advantages, cultivated new driving forces, reduced management levels through small enterprise reform and invalid asset cleaning, improved management efficiency through separation and handover of “water/power/air supple and property management”, played a leading role in reform of "social function stripping", "reform of mixed systems", “disposal of zombie companies” and “reduction of management levels and legal persons, actively carried out benchmarking management, and took benchmarking management as an important method for improving operation efficiency, significantly improving the enterprise’s economic and management performance level. 
     Scientific and technological innovation has played an important role in development of Shaanxi Coal and Chemical Industry Group Co., Ltd. The group focused on world's frontier science and technology, strengthened some common key technologies, cultivated newly developing technological businesses, trained high-end scientific and technological talents, speeded up the introduction of advanced technologies, promoted transformation of achievement industries, unswervingly walked on the "scientific and technological industrialization" road, and harvested rich achievements. In the past three years, the group has carried out 599 key scientific research projects, won 44 national-level and provincial- and ministerial-level awards (2 National Prizes for Progress in Science and Technology and 42 provincial- and ministerial-level awards), and obtained scientific and technological innovation and creation achievements that had great impacts at home and abroad, including coal clean, transformation, and utilization, PX manufactured based on Benzene and toluene alkylation with methanol, intelligent coal mining, 110-N00 non-pillar mining, and manufacturing of domestic coal mining machine with 8-m mining height. Scientific and technological innovation helped Shaanxi Coal and Chemical Industry Group Co., Ltd. continuously construct efficient instruments for competition and improve its competitiveness. New energy and new material industries, including transformation of scientific and technological achievements, nanofluids energy absorbing materials, ternary lithium-ion batteries, and silver nanowire transparent conducting thin film are surging forward. This phenomenon extended the industrial chain and price chain and produced good economic benefits, safety benefits, and ecological benefits. 
      In reform and development, Shaanxi Coal and Chemical Industry Group Co., Ltd. always takes Party construction as its unique political advantage, focuses on enterprise production and operation tasks, inherits traditions, keeps a foothold, and actively performs exploration during strengthening leadership of CCP on state-owned enterprises and improving Party construction quality of state-owned enterprises, improves Party construction quality, and build a new pattern of Party construction in the state-owned enterprises in the new era. The group earnestly implements the spirit of state-owned enterprise Party construction meeting and requirements of Party committee of the higher level, and revises Articles of Association of the group and Articles of Association of its subsidiary enterprises in time, writes Party construction work requirements into the Articles of Association to ensure that strengthening leadership of CCP is consistent with completing corporate governance, integrate the Party’s leadership into corporate governance sections, and clear & implement the Party’s legal status in corporate governance structure. To resolve the problem that the Party organization is large, involves many industries, and develops unevenly in Party construction development, the group vigorously promotes Party construction quality management system, drives Party construction normalization, routinization, and scientification, establishes an "Internet + Party-Masses Working" information platform, and further improves Party construction working standards and management levels. In leader administration, the group adheres a principle of the Party manages leaders, takes "three mechanisms" as a general principle, continuously specifies leader's daily management, strictly assesses leaders, constantly deeps the leader management mechanism, and arouses vitality of the leader team. "Central tasks are implemented on the basis of Party construction and good Party construction work promotes the enterprise development." Under a situation that the group faces heavy reform and development tasks, the Party organization gave full play to "direction control, general situation management, and task implementation guarantee".
    In the face of strategic deployment of "two centenary goals", Shaanxi Coal and Chemical Industry Group Co., Ltd. planned a synchronous strategic blueprint. In 30 years, the group will become a leading enterprise in coal cleaning, using, and transformation, gradually grow into a leader in the global energy material industry, and become technical standard maker & new material innovation subject.