Jinneng Holding Equipment Manufacturing Group Company Limited, formerly name Shanxi Jincheng Anthracite Mining Group Co., Ltd. (JAMG) is a Chinese state-owned coal mining conglomerate based in

Jincheng Jincheng is a prefecture-level city in the southeast of Shanxi province, China, bordering Henan province to the south and southeast. It is an industrial city in an area where coal mining is an important industry. The entire city has a population ...

, Shanxi. It was owned by the State-owned Assets Supervision and Administration Commission (SASAC) of . JAMG was ranked 386th in 2016

Fortune Global 500 The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine. Methodology Until 1989, it listed onl ...

. The company also known as Jin Coal Group () in China, which "Jin" was the short name of both Jincheng and Shanxi Province, as both named after the ancient Jin. Jincheng was located in one of the 13 important coal mining sites of China, namely "Jin East", which fellow state-owned enterprise Yangquan Coal Industry Group and Lu'an Mining Industry Group were also located in "Jin East". According to a publication of the National Energy Administration, JAMG had a coal mining capability of 54.55 million tons in 2015, despite the list was incomplete. (The figure also included the mines from

Taiyuan Coal Gasification Group Taiyuan Coal Gasification (Group) Co., Ltd. is a Chinese state-owned coal mining conglomerate based in Taiyuan, Shanxi. The company was owned by State-owned Assets Supervision and Administration Commission (SASAC) of . However, Shanxi SASAC gr ...

) According to the company itself, the company produced 70.4 million tons of coal in 2015. According to the International Energy Agency, JAMG was ranked 11th in 2006 in China by sales mass. According to

UNESCO The United Nations Educational, Scientific and Cultural Organization is a specialized agency of the United Nations (UN) aimed at promoting world peace and security through international cooperation in education, arts, sciences and culture. It ...

, the group had one of the representative coal gasification plant in China in 2007, with an output of 100,000 tons. The group also had the world largest

coal mine methane Coalbed methane (CBM or coal-bed methane), coalbed gas, coal seam gas (CSG), or coal-mine methane (CMM) is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, Au ...

power plant of 120 MegaWatts, at the Sihe Mine (). The engine of the power plant was constructed by Caterpillar and the project was partly financed by a loan from

Asia Development Bank The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The bank also maintains 31 field office ...

and the Prototype Carbon Fund that was managed by the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

History

Shanxi Jincheng Anthracite Mining Group was founded in 1958 as Jincheng Mining Bureau. In 2000 it was incorporated as a limited company. In 2011 Shanxi SASAC entrusted JAMG to manage

. In 2016 JAMG acquired 24.26% stake of Taiyuan Coal Gasification Co., Ltd., a listed subsidiary of

for (CN¥6.87 per share). A

backdoor listing A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compa ...

was planned for a subsidiary () of JAMG, which produces

. The listed company would acquire the subsidiary by paying cash and issuing new shares to JAMG. The assets of coal gas would sold back from the listed company to Taiyuan Coal Gasification Group. After the deal, JAMG would owned the listed company for 49.89%, followed by Taiyuan Coal Gasification Group for 16.66%. Additional new shares would be issued to other parties in order to dilute the effect of aforementioned deal, which JAMG and Taiyuan Coal Gasification Group may owned 40.05% and 13.38% stake respectively, with new investors owned 20%.

Shareholders

The shareholders of JAMG, as at 31 December 2015 were the State-owned Assets Supervision and Administration Commission (SASAC) of , China Development Bank (via a wholly owned subsidiary) and China Cinda Asset Management. The latter acquired the stake by debt-to-equity swap. On 29 January 2015 JAMG bought back 3.61% stake from

China Construction Bank China Construction Bank Corporation (CCB) is one of the " big four" banks in China. In 2015, CCB was the 2nd largest bank in the world by market capitalization and 6th largest company in the world. The bank has approximately 13,629 domestic branc ...

. The

treasury stock A treasury stock or reacquired stock is stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market ("open market" including insiders' holdings). Stock repurchases are used as a tax efficie ...

was than canceled in mid-2015.

References

External links

*
Jinneng Holding Equipment Manufacturing Group Company Limited Official Website
{{authority control Coal companies of China Government agencies established in 1958 1958 establishments in China Companies owned by the provincial government of China Government-owned companies of China Chinese companies established in 2000 Energy companies established in 2000 Non-renewable resource companies established in 2000 Companies based in Shanxi Holding companies of China Jincheng Natural gas companies of China 2020 mergers and acquisitions Announced mergers and acquisitions