Xishan Coal Electricity (Group) Co., Ltd. is a subsidiary of

state-owned State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownersh ...

coal and coke conglomerate

Shanxi Coking Coal Group Shanxi Coking Coal Group Co., Ltd. is a Chinese state-owned coal mining conglomerate and a holding company, as one of the seven coal conglomerates that had a production capability of over 100 million metric tons in China in 2011. Shanxi Coking ...

(for 52.34% stake). The subsidiary is based in Taiyuan, Shanxi. The company was the parent company of listed company

Xishan Coal and Electricity Power Shanxi Xishan Coal and Electricity Power Co., Ltd. was established in 1999 and listed on the Shenzhen Stock Exchange in 2000. It has 9 coal mines, 8 coal plants and 13 holding companies. Xishan Coal Electricity Group was the parent company of Xi ...

. However, in 2001 all the stake were transferred to its parent company

. Claimed by the subsidiary itself, the subsidiary is China's largest and the world's second largest

coking coal Metallurgical coal or coking coal is a grade of coal that can be used to produce good-quality coke. Coke is an essential fuel and reactant in the blast furnace process for primary steelmaking. The demand for metallurgical coal is highly coupled ...

production Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a stati ...

enterprise Enterprise (or the archaic spelling Enterprize) may refer to: Business and economics Brands and enterprises * Enterprise GP Holdings, an energy holding company * Enterprise plc, a UK civil engineering and maintenance company * Enterprise ...

; It involves

coal mining Coal mining is the process of extracting coal from the ground. Coal is valued for its energy content and since the 1880s has been widely used to generate electricity. Steel and cement industries use coal as a fuel for extraction of iron from ...

and processing, coal mining machine

manufacturing Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a r ...

, and

electricity Electricity is the set of physical phenomena associated with the presence and motion of matter that has a property of electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as described ...

equipment repair. In 2015 Xishan Coal Electricity Group produced 47.50 million tons of coal, 5.471 million tons of coke and 12.09

billion Billion is a word for a large number, and it has two distinct definitions: *1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English. * 1,000,000,000,000, i.e ...

kWh of electricity.

History

Xishan Coal Electricity (Group) Co., Ltd. was founded in 1956 as Xishan Mining Bureau (). In 1998 the organization was incorporated as a limited company. In 1999 a subsidiary

was incorporated and floated on

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

in 2000. The listed subsidiary received 3 mines in

Gujiao Gujiao () is a county-level city of Shanxi Province, North China, it is under the administration of the prefecture-level city of Taiyuan. The estimated population of Gujiao in 2017 is about 222,000. Geography Gujiao is located in central Shanxi ...

from the group () as well as three corresponding coal preparation plants (). The capital raised from the

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

was used to acquire 1 additional mine () and two factories from Xishan Coal Electricity Group. Xishan Coal Electricity Group became a subsidiary of Shanxi Coking Coal Group in 2001. The stake in the listed company was also transferred from Xishan Coal Electricity Group to the parent company that year. In

2009 File:2009 Events Collage V2.png, From top left, clockwise: The vertical stabilizer of Air France Flight 447 is pulled out from the Atlantic Ocean; Barack Obama becomes the first African American to become President of the United States; 2009 Iran ...

, one of the mine () of Xishan Coal Electricity Group in Gujiao had a pre-dawn explosion. In the same year, a coking factory () which produce coke and coal gas was sold to the listed company. The factory was the only provider of coal gas in Gujiao. Some of the mines of Xishan Coal Electricity Group was not injected to the listed company, such as two mines in Gujiao (aforementioned mine with 2009 mine blast and ). According to Xishan Coal Electricity Group, they were located in 3 different area. (Xishan, River East, West Huo ) but according to the publication of the

National Energy Administration The National Development and Reform Commission of the People's Republic of China (NDRC), formerly State Planning Commission and State Development Planning Commission, is a macroeconomic management agency under the State Council, which has br ...

of China, the production capability per year for three mines () were disclosed with a capability of just 1.8 million tons of coal per year in 2015. Moreover, the two mines in Gujiao, which had a combined 9 million tons capability per year, were listed under parent company Shanxi Coking Coal Group instead. However, the list of National Energy Administration was incomplete, which may not reflected the true situation.

Equity investments

Xishan Coal Electricity Group was also the minority shareholder of the

Coca-Cola Coca-Cola, or Coke, is a carbonated soft drink manufactured by the Coca-Cola Company. Originally marketed as a temperance drink and intended as a patent medicine, it was invented in the late 19th century by John Stith Pemberton in Atlanta ...

bottler in Shanxi (as in 2015). ()

Shareholders

The other shareholders of Xishan Coal Electricity Group were

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 bra ...

China Cinda Asset Management China Cinda Asset Management Co., Ltd. known as China Cinda or just Cinda is a Chinese merchant bank and asset management company. The corporation was founded as a state-owned enterprise and a bad bank for China Construction Bank in 1999. The ban ...

and

China Orient Asset Management China Orient Asset Management Co., Ltd. is a Chinese state-owned enterprise. The company is an asset management company and a merchant bank originated as a bad bank for the Bank of China. The bank received shares from debt-to-equity swap of no ...

. They acquired the stake by

debt-to-equity swap Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue ...

.Shanxi Government Database
(in Chinese) accessed on 2 November 2016

References

External links

* {{authority control Coal companies of China Chemical companies of China Electric power companies of China Construction and civil engineering companies of China Conglomerate companies of China Government-owned companies of China Government agencies established in 1956 Chinese companies established in 1998 Energy companies established in 1998 Non-renewable resource companies established in 1998 Construction and civil engineering companies established in 1998 Companies based in Taiyuan China Orient Asset Management