A powerful alliance! China’s Pingmei Shennma Group has established a complete industrial chain that spans from coking coal to coal tar, needle coke, anode materials, lithium batteries, and energy storage!

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At the beginning of 2026, Pingmei Shenma Group and Henan Energy Group, two companies listed among China’s top 500 enterprises, officially merged to form a new entity. A new powerhouse in the energy and chemical industry, with assets worth nearly 600 billion yuan and annual revenue of around 300 billion yuan, set sail in the Central Plains region. This restructuring is by no means a simple combination of assets; rather, it is a systematic reorganization aimed at fulfilling Henan Province’s goals and shaping the future of its industries. The five A-share listed companies under this group – Pingmei Co., Dayou Energy, Shenma Co., Silane Technology, and Yicheng New Energy – each have a specific role to play within the industrial framework, working together in coordination to advance the group’s strategy focused on both energy and functional materials. Under this new structure, the group is gradually pursuing a path of industrial upgrading characterized by higher standards, greater intelligence, and sustainability, moving swiftly toward becoming a world-class enterprise in the fields of energy and functional materials. Coalification drives the industry forward; stepping into Pingmei Co., Ltd.’s intelligent command center, a simple mouse click on the ground is enough to make the shield machines deep underground move as ordered, with monthly progress easily exceeding 600 meters ； The X-ray rapid scanning on the TDS intelligent dry cleaner is used for preliminary screening of coal gangue, while high-pressure air is used to precisely blow the coal into the coal storage tank… A responsible official from China Pingmei Shenma Group said that through advances in large-scale deep-well slurry filling technology, 800 million tons of coal resources that were previously trapped in shallow layers in the Pingdingshan area have been made available for use, resulting in a reduction in the cost per ton of coal from 82 yuan at the beginning of last year to less than 60 yuan currently. At the same time, the company is actively investing in resource projects in regions such as Xinjiang and Ningxia, continuously expanding its reserves of high-quality coking coal to provide a stable and reliable supply of raw materials for downstream industries. Dayou Energy focuses on the thermal coal sector, forming a partnership with Pingmei Co., Ltd. that features complementary coal types and coordinated market strategies. According to a responsible official from Dayou Energy, the company currently has 10 production mines, with an approved annual production capacity of 15.3 million tons in total, of which about 85% is thermal coal. “Following the restructuring, we will leverage the advantages of the new group’s platform, actively integrate into the overall development strategy of the new group, and make full use of its comprehensive strengths in terms of funding, technology, brand, and industrial chains. We will transform the new group’s momentum into driving force for our own development, thereby achieving growth by capitalizing on these advantages. ”A responsible official from Dayou Energy said that the company will follow the overall plans of the new group, strive to ensure proper governance, efficient production and operation, as well as sound investor relations, and actively cooperate in the discussion, formulation, and implementation of relevant strategies, so as to play its due role in supporting the development strategy of the new group. In the future, the capacity for supplying thermal coal will be further enhanced to provide additional support for regional energy security. A stable supply of upstream raw materials provides the midstream industries with the confidence to achieve innovative breakthroughs. Within the Pingdingshan Nylon New Materials Industry Development Zone, a representative from China Pingmei Shenma Group stood next to a thick hydrogen pipeline and described the transformation from \"a piece of coal\" to \"ten thousand strands of fiber\": \"This pipeline is connected directly to the coking unit; after the coal gas is separated and purified, the resulting hydrogen is sent directly to the nylon production lines, saving over 100 million yuan in costs each year.\" ” It is reported that China Pingmei Shennma Group has restructured its production processes and built a number of production facilities; the companies in the nylon sector are interconnected, which enables efficient flow of products such as caprolactam, aminocapronitrile, hexamethylenediamine, and Nylon 66 salts between different stages of production. This has resulted in an industrial collaboration system that is interconnected in all directions. The restructured new group will further enhance its advantages in the coal chemical industry: high-quality raw materials such as those provided by Pingmei Co., Ltd. and Dayou Energy offer stable support for the nylon industry, while the technical expertise of Shenma Co., Ltd. provides the group’s coal-related enterprises with a new pathway for transitioning from fuel production to material production. New strategic industries are rising strongly. In Yicheng New Energy’s laboratory, rows of graphite electrode samples are displayed. A responsible official from the New Energy and New Materials Division of China Pingmei Shennma Group said, “We have established a complete industrial chain that spans coking coal – coal tar – needle coke – anode materials (graphite electrodes) – lithium batteries – energy storage, giving us a significant cost advantage.” ”In addition, the company has successively acquired stakes in two anode material technology companies to further expand its business portfolio. Yicheng New Energy’s transformation path from a traditional photovoltaic company to one driven by both \"high-end carbon materials\" and \"new energy storage solutions\" is becoming increasingly clear. The company has also partnered with CATL to develop new green and low-carbon energy storage projects in Henan Province. The 24 MW/96 MWh all-vanadium flow battery energy storage station built in Mapengshan is expected to be able to provide 24 million kWh of power supply during off-peak times per year once it is operating at full capacity. It is reported that in the future, efforts will be focused on entering new industries and fields such as carbon fiber, silicon carbide optoelectronic materials, fourth-generation diamond semiconductors, and \"artificial intelligence+\", with a view to continuously expanding the scale of industries related to silicon carbide semiconductor materials and wind/solar power generation ； Deepen cooperation with innovative resources in the east to accelerate the pilot testing and industrialization of new photovoltaic technologies such as perovskites, and maintain a technological leadership advantage. Inside the production workshop of Silane Technology, through the observation window, high-purity silane gas can be seen flowing in the pipes. “The purity of silane gas reaches 99.99999%. ”A representative from Silane Technology stated that the company’s production capacity for high-purity electronic-grade silane amounts to 6,100 tons per year, and technological advancements have also been achieved in the production of high-end zone-fused grade polysilicon. This industrial pathway, from coal to semiconductors, is truly remarkable: the gas produced by coking coal can be used to manufacture high-purity hydrogen and needle coke, which in turn lead to high-purity silanes and high-quality polycrystalline silicon, thus creating a unique coal-based silicon-hydrogen materials industry chain. In September 2025, Silane Technology successfully delivered high-purity silane products to customers in Europe and the United States, marking a crucial transition for domestic silane products from import reliance to export orientation, and from being domestically produced to being sold on the international market. “On the one hand, the company is expanding into the specialty gases sector, building on industrial hydrogen gas as a foundation and focusing on electronic-grade silane gas as its key product ； On the other hand, efforts are made to expand silicon-based materials, with zone-melted polysilicon as the main component. By partnering with leading companies in the field of anode materials, the company aims to develop downstream battery-related businesses and create new growth opportunities for silicon-based products. It strives to strengthen its operations in new materials and new energy sectors, with the goal of becoming a top-tier domestic and globally leading enterprise in the fields of electronic industry gases and new material technologies. ”A relevant official from Silane Technology said. Lightweight approach to boost efficiency: 2026 will mark the beginning of integrated development for the new group formed as a result of restructuring, and it will also be the year when China Pingmei Shennma Group focuses on driving efficiency improvements. At this new point of development, only by promoting the efficient allocation of resources and the effective operation of institutions can this industrial aircraft carrier move forward steadily and sustainably. The senior officials of China Pingmei Shennma Group said that it is necessary to abandon the old methods of the past, accelerate the learning of new skills such as artificial intelligence, and strive to develop strong capabilities in management and operational excellence in order to gain a competitive edge in the market. The senior officials of China Pingmei Shennma Group stated that in the next step, the group will focus on its two main business areas: energy and functional materials. By emphasizing intelligent transformation, green development, and integrated innovation, it will work to develop business segments such as coal and coke production, nylon chemicals, silicon-carbon new materials, electricity generation, and new energy sources. The group will also actively explore areas such as special nylon fibers, hydrogen energy and new types of energy storage, and biomanufacturing, with the aim of becoming a world-class enterprise in the field of energy and functional materials.