The Yangquan Coal Industry Group, established in January 1950, is one of Shanxi province's five largest coal groups, with total assets of 63.9 billion yuan ($10.4 billion). It has 36 subsidiaries and 39 holding subsidiaries, two of which are public companies -- the Shanxi Guoyang New Energy Co and Shanxi Sanwei Group Co, with 125,000 employees in the group. The group's revenues for 2008 were 34.37 billion yuan, with 16.44 billion yuan from the sale of 38.37 million tons of coal. Other revenues were generated by the non-coal business, with 10.97 billion yuan coming from chemical products. The group ranked 217th on China’s Top 500 enterprise list, in 2008, and 10th on China's Top 100 coal industry enterprise list.
It is an important part of the Jindong Coal Base, one of China's 13 large coal bases and has won many honors, such as Excellent Chinese Coal Industry Enterprise, Coal Industry-Golden Stone Award for Excellence, Quality Standardization and Modernization Mining Bureau honor, a AAA Credit rating, a national "Promise Keeping, Contract Honoring" award, International Credit Enterprise award, Benchmarking Chinese Enterprise Informatization award, Top 10 Enterprises for Scientific and Technological Progress in the Coal Industry, Excellent Enterprise of Shanxi, Outstanding Contribution to Shanxi's Economic Restructuring award, Excellence in Spiritual Civilization in Shanxi, and a national May 1st Labor award.
The group has plentiful coal resources, convenient transportation, advanced equipment and scientific and technological strengths and is known for its Yangyou brand of anthracite and is China’s largest anthracite producer, with a coal mining area of 1,322 square kilometers, reserves of more than 12 billion tons, and recoverable reserves of more than 6.3 billion tons. It has more than 20 products and provides fuel and raw materials for the electric power, metallurgy, chemicals and building materials industries.
It also has an efficient domestic sales network, with products going mainly to large steel mills, power plants and building material and fertilizer companies and some exported to foreign countries. It has been a success in the coal and non-coal industries and has a development strategy that promotes expansion. It has 23 coal mines and 10 chemical enterprises in Shanxi, Hebei and Shandong provinces and has developed a circular-economy industrial chain for coal, coal chemicals, aluminum, electricity, construction, and real estate for sustainable mining and natural resource utilization. Its annual raw coal production capacity is 44 million tons, chemical products, 5.38 million tons, and aluminum products, 500,000 tons. It has an annual installed electricity capacity of 600,000 kWh, annual construction and installation output value of 3.5 billion yuan, and annual real estate development capacity of 2.5 million square meters.
