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 etc, and 9 public companies listed at home and abroad, with a 229,700-strong workforce.
SDE was rated as the 70th on 2021 Global Fortune 500 and the 24th on China Top 500 Companies. SDE realized operating revenues and total pre-tax profits of RMB 752.1 billion and RMB 53.1 billion respectively for year 2021, with total assets of RMB 751.4 billion as at 31 December 2021. Meanwhile, SDE was selected as a benchmarking enterprise in an 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.
SDE focuses on six pillar industries of mining, high-end chemicals, electric power, new energy and new materials, high-end equipment manufacturing, and modern logistics and trade. Its approved annual production capacity of coal at home and abroad totaled 340 million tons, ranking the third in China’s coal industry; SDE also takes the lead across China in applying intelligent mining technology, e.g., it independently developed the world’s first set of highly-reliable 5G network system for mine use, and built 9 national standard pilot intelligent demonstration mines.
The high-end chemicals industry now possesses an annual production capacity of 16 million tons of high-end chemical products, including paraformaldehyde, caprolactam and ethylene glycol. For the electric power industry, SDE has built a batch of power units with large capacity and high parameters, with the installed capacity and the capacity under construction reaching 20 million KW. For the new energy and new materials industry, we are moving fast in building a provincial-level new energy investment platform, and steadily promoting a 4-million KW offshore wind power project in the Middle Bohai Sea Area.
At the heart of everything SDE does is General Secretary Xi Jinping’s future-oriented call to “enhance the strength, quality and size of SOEs”. Complying with the strategic requirements of “Carbon Peaking and Carbon Neutrality”, SDE is committed to the responsibilities of “ensuring energy security and optimizing energy structure and energy layout”. Eyeing both domestic and global markets, SDE strives to to be a global clean energy supplier and world-class enterprise with the goal of both total assets and operating revenues hitting RMB1 trillion respectively by the end of the “14th Five-Year Plan” (2021-2025).