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 10 public companies listed at home and abroad, with a 220,000-strong workforce.The year 2022 registered the operating revenues of RMB827 billion, the total profits and taxes of RMB94 billion, and the total assets of RMB950 billion as at 31 December 2022. SDE was rated as the 69th on 2022 Global Fortune 500 List, the 23rd on China Top 500 Companies List and the 5th among China Top 500 Energy Companies. Meanwhile, SDE was selected as the“Corporate Governance Demonstration Enterprise” by the State-owned Assets Supervision and Administration Commission of the State Council. With a market cap of more than RMB220 billion, Yankuang Energy Group has won the 7th “China Industry Award” which is the highest award in China's industrial field and known as the "Oscar" of China's industry.
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.
It’s annual production capacity of coal at home and abroad totals 340 million tons, and its coal output ranks the third in China’s coal industry. The intelligence caliber of mines takes the lead in the industry and 9 mines are selected as the first batch of intelligent demonstrating mines at national level. In the chemical industry, it has built "five chemical industry bases", namely Jining coke gasification base, Lunan high-end new chemical materials deep processing base, Yulin high-end coal-to-liquid base, Ordos coal-based new chemical materials base and Xinjiang coal-chemical integration base, with the output of high-end chemical products such as polyformaldehyde, caprolactam and glycol reaching 16 million tons. In the electric power industry, a number of plants with large capacity and high parameters have been built, with 16,000 MW of installed capacity under construction. In the new energy industry, it has built provincial investment platform for new energy and implements the integrated development of the generation and storage of wind, photovoltaic and hydrogen power as well as the coordinated development of power generation, transmission, loading, and storage. The 900 MW offshore wind power in the Middle Bohai Sea Area has been connected to the power grid in full capacity, which has become China’s largest offshore full-capacity grid-connected power generation project among the five major offshore wind power bases during the “14th Five-Year Plan” period. In the new materials industry, SDE has formed industrial clusters of new materials, such as calcium-based new materials industry, high-end petrochemical new materials industry as well as fiber and composite new materials industry. Shandong Fiberglass Group ranks the fourth in China for fiberglass capacity, and the high-end nylon industry is listed as a key support project by the Ministry of Industry and Information Technology.
For high-end equipment manufacturing, SDE has developed the comprehensive hydraulic support test platform with the largest loading capacity and the most complete functions in the world. Besides, Yankuang Donghua Heavy Industry Co., Ltd., a subsidiary of SDE, serves as a global supplier of Caterpillar for its hydraulic supports. For the modern logistics and trade, SDE has launched Shandong International Commodity Exchange, Shandong Electronic Port Co., Ltd., Hainan International Energy Exchange and other major trading platforms to serve the development of industry entities.
At the heart of everything SDE does is Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. 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 layout". While focusing on green, low-carbon and high-quality development, SDE strives to become a clean energy supplier and a world-class enterprise, and spares no efforts in building itself into a demonstrable SOE that takes the lead in seven aspects, namely the comprehensive strength, low-carbon transformation, structural optimization, cooperate governance, technology innovation, safety and stability as well as party building. SDE aims to develop into a resilient enterprise with optimized industry structure whose total assets and operating revenues both hitting RMB1 trillion respectively by the end of the "14th Five-Year Plan" (2021-2025).
