On December 16, the strategy conference of Yankuang Energy Group Co., Ltd. was held in Shanghai. Ling Wen, Member of Shandong Provincial People’s Government and Vice Governor of Shandong, and Liang Jiakun, Chairman of China National Coal Association, delivered respective speeches on-site via videolink. Li Wei, Secretary of CPC Shandong Energy Committee and Chairman of both SDEG and Yankuang Energy Group, elaborated on the next-decade development strategy of Yankuang Energy and announced the name-change of it.
Ling Wen, on behalf of Shandong Provincial Government, congratulated on SDEG and Yankuang Energy on the convening of this conference, wishing Yankuang Energy to open a new chapter of strategic transformation and high-quality development.
Ling Wen said that Yankuang Energy, as a paragon among Shandong's state-owned listed companies, is continuously increasing its scale, brand strength, social status and industrial influence, making positive contributions to building Shandong into a socialist modern powerhouse in the new era. Ling Wen hoped that Yankuang Energy would start with this strategic transformation to bravely assume the responsibility of ensuring energy security and optimizing energy mix and layout. Focusing on "Carbon Peaking and Carbon Neutrality", it is bound to create a green, low-carbon development path to realize greater success and provide strong support for Shandong’s high-quality development.
Liang Jiakun extended his congratulations to Yankuang Energy on behalf of the China National Coal Association. He hoped that Yankuang Energy could take this strategic transformation as an opportunity to earnestly implement the spirit of the Sixth Plenary Session of the 19th CPC Central Committee, conform to the general trend of economic and energy development in the new era, and pioneer the implementation of “dual carbon”. Meanwhile, Yankuang Energy is expected to play a leading role in optimizing and upgrading the industrial structure, promoting clean and efficient use of energy, and realizing a torrent of changes in quality, efficiency and growth drivers. This way, it could soon become a world-class energy enterprise and enhance the brand's international influence and reputation, so as to make new and greater contributions to the clean and efficient use of coal and green and low-carbon development.
Wang Xuchao, the second-level inspector of the State-owned Assets Supervision and Administration Commission of Shandong Province, said that the release of Yankuang Energy’s strategy is a major delightful event in the history of the reform and development of Shandong's SOEs. It is hoped that Yankuang Energy would take this strategic transformation as an opportunity to speed up the industrial structure readjustment and regional layout optimization, to lead an intelligent energy reform, and to be the first mover in green and low-carbon transformation and accelerate the high-quality development of SOEs. A day will eventually come when Yankuang Energy becomes a world-class clean energy leading provider for sustainable development and gives a time-tested answer on how to achieve strategic transformation and leapfrog development of Shandong's SOEs in the new era.
At the press conference, Li Wei interpreted the corporate vision, development ideas, industrial positioning and goals, development paths and supportive measures of The Outline of Yankuang Energy Development Strategy.
Li Wei said that the world is undergoing profound changes unseen in a century and major energy mix adjustment. Faced with “dual carbon”, new requirements for high-quality development, and the merger of the new Shandong Energy Group last year, it is imperative for both SDEG and Yankuang Energy to accelerate the strategic transformation.
The company made the decision to rename Yanzhou Coal Mining Company Limited as Yankuang Energy Group Company Limited and formulated the Development Strategy Outline of Yankuang Energy, which pictured a systematic development plan and outlook in the next 5 to 10 years after re-examining its development with a global vision and an open mind. These moves are of strategic importance to facilitate the company in responding to the changes in the energy industry, securing the initiative in the new round of industrial structure change and leading innovation and development.
Li Wei said, as the controlling shareholder of Yankuang Energy, Shandong Energy Group shoulders the responsibilities of safeguarding the regional energy security and optimizing the energy layout and energy structure. Ranked 70th in 2021 Fortune Global 500 List, Shandong Energy Group will become the first company in Shandong province that achieves RMB700 billion in both total assets and operating revenues by the end of 2021 and is expected to realize both total assets and operating revenues all up to RMB1 trillion, by the end of the 14th Five-Year Plan (2021-2025). Shandong Energy Group will strictly abide by both domestic and international regulatory rules and support the sustainable development of Yankuang Energy in terms of policies, funds and resources. The purpose is to ensure the Outline for the Development Strategy of Yankuang Energy will be fully implemented so that the returns to investors can be increased and the interests of relevant parties can be safeguarded to the maximum. Standing at a new starting point and embarking on a new journey, Yankuang Energy will resolutely implement the important instructions of General Secretary Xi Jinping, such as "achieving self-sufficiency in terms of energy supply" and actively implement the strategic goals of Carbon Peaking and Carbon Neutrality by optimizing the industrial layout, adjusting the industrial structure and empowering the industrial development. Yankuang Energy will strive to wade through a new path of transformation and development for traditional energy enterprises, and contribute its wisdom and strength to promote the green, low-carbon and high-quality development of China's energy industry.
After evaluating Yankuang Energy’s development strategy, both Ji Xiaonan and Zheng Xinli offered their recognition and put forward the hopes and requirements on its improvement. (Note: Ji Xiaonan is the former Chairman of the State Council’s Key State-owned Large-scale Enterprises Supervisory Board and the current special Vice Chairman of the China International Council for the Promotion of Multinational Corporations; Zheng Xinli is a famous economist and former Deputy Director of the Policy Research Office of CPC Central Committee.)
Keynote speakers include He Longcan, Vice Chairman of China Association for Public Companies, Shen Hanyao, Chairman of China Business Top 100 Forum, Gary Nagel, CEO of Glencore, Pan Weidong, President of SPD Bank, Ye Guobiao, Secretary of CPC Shanghai Securities News Committee and Chairman of Shanghai Securities News, also the Chairman of China Financial Information Center (CFIC) and Secretary of CPC CFIC Committee, and Wang Wenzong, Vice General Manager of China Huaneng Group Co., Ltd. These speakers congratulated Yankuang Energy on the launch of its Strategy Conference and expressed their hope that Yankuang Energy continues to lead the energy industry, contributes to both national and regional economic development and creates lucrative returns for shareholders, customers and stakeholders.
Later, Li Wei launched the renaming ceremony, during which Yanzhou Coal Ming Company Limited was renamed as Yankuang Energy Group Company Limited and Yankuang Energy’s new logo was presented, together with Wang Hongzhi, member of the Standing Committee of the CPC Jinan Municipal Committee and Executive Vice Mayor of Jinan City, Guan Zhaoquan, Deputy Director and Party Group Member of Shandong Development and Reform Commission, Xu Bingbo, Level-2 Inspector of the Department of Commerce of Shandong Province, Wang Xuchao, Level-2 Inspector of Shandong Provincial State-owned Assets Supervision and Administration Commission, Su Cuifang, Member of the Standing Committee of the Ordos Municipal Committee and Vice Mayor of Ordos City, Zhang Jun, Vice Mayor of Jing'an District in Shanghai, Shao Shiguan, Vice Mayor of Zaozhuang, Zhang Shengming, Vice Mayor of Jining, Du Qingjie, Deputy Secretary of the CPC Zoucheng Municipal Committee and Mayor of Zoucheng.
Guests form Australian Consulate-General in Shanghai, Fortune Global 500 Companies in the energy sector, major Chinese and foreign banks, securities and funds institutions, intermediaries, accounting firms and authoritative domestic media, attended the conference.
