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Significant progress has been made in the strategic restructuring of state-owned enterprises in Henan. On the morning of January 16, China Pingmei Shennma Holding Group Co., Ltd. (hereinafter referred to as China Pingmei Shennma Group) held an inauguration ceremony in Zhengzhou, marking significant progress in the strategic restructuring between Henan Energy Group and China Pingmei Shennma Group, and initiating a new journey toward becoming a world-class enterprise. As a leading enterprise in the fields of coal, chemicals, and new materials in Henan Province, Pingmei Shenma Group shares a similar functional role with Henan Energy Group, with strong complementary industrial structures. Among them, Henan Energy Group focuses on developing the coal and coal gasification industries, while Pingmei Shenma Group takes coal coking as its industrial foundation, thereby creating a diversified industrial structure that includes coal coking, nylon chemicals, new energy, and new materials – all of which provide strong support for regional energy security and industrial development. Based on the provincial industrial layout, on September 25, 2025, the Henan Provincial Party Committee and Provincial Government made strategic arrangements to officially launch the strategic restructuring of Henan Energy Group and Pingmei Shenma Group. As the largest strategic restructuring of competitive enterprises in Henan Province’s history, this merger aims to overcome bottlenecks in industrial development through resource integration and complementary strengths. It facilitates the expansion and improvement of the coal industry, enhances efficiency in the chemical industry, and helps the new materials industry gain a competitive edge. It also promotes advances in areas such as coal and power supply, clean energy development, and the integration of wind, solar, and storage technologies, thereby providing strong support for the construction of a modern industrial system across the province. It is understood that since the launch of the restructuring efforts, thanks to the coordinated efforts of all parties, various tasks have been advanced steadily with remarkable results. With the active support of financial institutions, the group has signed strategic cooperation agreements with various financial institutions such as China Construction Bank Henan Branch, Zhongyuan Bank, and Zhengzhou Bank. New credit lines amounting to over 23 billion yuan have been granted, and a restructuring equity fund with a total scale of 20 billion yuan was successfully established. The stock prices of the group’s listed companies have performed well, reflecting the market’s strong confidence in the company’s future development. Key tasks such as asset inventory and valuation, audit assessments, and anti-monopoly reviews were completed successfully. The business registration was updated in accordance with the law, and a new organizational structure of \"listed company + regional companies + business units\" was established, laying a solid foundation for the efficient and standardized operation of the enterprise. In addition, the group focused on the key tasks of \"stabilizing the overall situation, enhancing integration, and opening up new prospects.\" While advancing integration at a rapid pace, it maintained a solid foundation in terms of safety and environmental protection, emphasized quality and efficiency, and built a united force for progress, thus sustaining a stable growth trajectory. It is understood that the restructured China Pingmei Shennma Group has total assets of 590 billion yuan and revenue of nearly 300 billion yuan. It owns 5 listed companies. The quality of its main product, coking coal, as well as its production capacity for tire reinforcement materials are among the best in the world. Its production capacity for nylon 66 salts and engineering plastics ranks among the top in Asia. The quality of its anthracite, along with its production capacity for polyoxymethylene, silane gas, and ultra-high power graphite electrodes, is among the best in the country. The group holds coal reserves of over 30 billion tons and rock salt reserves of 2.3 billion tons, providing a solid resource and industrial foundation for high-quality development. “Next, China Pingmei Shennma Group will focus on the strategy of ’two highs and four priorities’. Adhering to safety and sustainability as fundamental principles, quality and efficiency as core goals, innovation and reform as driving forces, strengthening its core business as a foundation, relying on all employees, and using party building as a guarantee, the group will take on its responsibilities in Henan Province, expand its operations in western and coastal areas, and concentrate on the two main areas of energy and functional materials. By focusing on intelligentization, green transformation, and integrated innovation, it will strive to develop business segments such as coal and coke production, nylon chemicals, silicon-carbon new materials, electricity, and new energy sources. It will also actively invest in areas such as special nylon fibers, hydrogen energy and new energy storage solutions, and biomanufacturing. The group aims to become the main platform for ensuring energy security in the province, a leader in the global nylon new materials industry chain, a pioneer in the development of coal-based chemicals and silicon-carbon new materials, and a driver of progress in future energy and materials technologies. It seeks to build a world-class enterprise in the field of energy and functional materials with international competitiveness, thereby making greater contributions to advancing China’s modernization process in the Central Plains region. ”The head of China Pingmei Shenma Group said so.