Recently, 2022 China Energy (Group) Top 500 list was released, with Shandong Energy Group taking the 5th spot

The ranking for 2022 China Energy (Group) Top 500 is co-launched by China Energy News and China Institute of Energy Economics Research for the public goods of the domestic energy industry. Through the objective and fair evaluation, it aims to clarify the status-quo of the domestic energy industry and pinpoint the respective market positions of the domestic energy groups.

Shandong Energy Group Co., Ltd. (SDE) is a large state-owned energy enterprise in Shandong Province, China, newly incorporated in July 2020, upon an agreed merger between the former Yankuang Group and the former Shandong Energy Group. SDE owns more than 20 second-level subsidiaries, including Yankuang Energy Group, Xinwen Mining Group and Zaozhuang Mining Group and 9 public companies listed at home and abroad, with a 229,700-strong workforce. SDE was rated as the 69th on 2022 Global Fortune 500 and the 23rd on China Top 500 Companies. SDE realized operating revenues and total pre-tax profits of RMB752.1 billion and RMB53.1 billion respectively for year 2021, with total assets of RMB751.4 billion as at 31 December 2021. In the first half of this year, its operating revenues totaled RMB420.8 billion and the pre-tax profit RMB41.2 billion. Meanwhile, SDE was selected as a benchmarking enterprise in a call for building benchmarking enterprises for corporate management among key SOEs, and also rated as “Corporate Governance Demonstration Enterprise” by the State-owned Assets Supervision and Administration Commission of the State Council, which makes SDE the only Shandong provincial SOE to win such an honor.