Yongmei: Three firsts among peers nationwide

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Yongmei: Three first places among peers nationwide 　According to reports from People’s Daily Henan Edition and Dahe Net-Henan Daily: (Reporter Lu Yingxiang) On November 24, financial updates provided by Yongmei Group showed that the group’s output value this year has exceeded 30.5 billion yuan. The sales revenue from non-coal industries alone reached 22.1 billion yuan, accounting for over 72% of the total sales revenue. What is even more notable is that the profits and taxes generated exceeded 4.33 billion yuan, of which the profit amounted to 2.805 billion yuan. 　　From being among the companies with heavy losses to becoming the best in the industry nationwide in terms of profitability per employee, tax revenue per employee, and income per employee, the people of Yongmei are, through their actions, putting into practice the development policy outlined at the 17th National Congress of the Party – namely, to establish a scientific and rational system for the utilization of energy and resources and to improve the efficiency of such utilization. 　　As a resource-based enterprise, Yongmei Group went from being the second-largest loss-maker in the province in 2000, with losses of 120 million yuan, to rapidly becoming the top profit-maker in Henan within less than seven years. It ranked among the top two in terms of overall efficiency within the national coal industry for three consecutive years; its profit per ton of coal was the highest in the industry nationwide, while its per capita profit and return on net assets also consistently ranked among the best in the same industry across the country. Chen Xuefeng, chairman of the group company and member of the Party committee, said, “The key factor is that Yongmei always adheres to the principle that running a business means creating value, not just output. State-owned enterprises should truly become pillar industries of the national economy, thereby fully demonstrating their competitive advantages.” ” 　　Yongmei maximizes the value of its resources. It is emphasized that one should not simply \"sell potatoes\"; instead, one should \"sell potatoes as fries\". For several consecutive years, the average extraction rate in the mining areas has exceeded 91%, which is 11 percentage points higher than the required rate for coal companies in terms of resource recovery; this represents the highest figure in the country. This alone generated an additional revenue of 1.353 billion yuan. By extending the coal value chain and vigorously developing coal chemical industries, the Yongcheng Coal Chemical Project has set three national records: it has the shortest construction time among projects of similar scale in the country, it features the first Shell coal-to-methanol gasifier of its kind in the nation, and it boasts the largest domestically produced air separation unit available in China. After production starts, the added value of coal can be increased by more than 8 times. Vigorously develop a circular economy, ensuring comprehensive utilization of all industrial by-products to achieve zero emissions, and essentially eliminating waste rock piles in mining areas. Operating revenue generated through the development of a circular economy amounted to 6.01 billion yuan, accounting for 20.3% of the total operating revenue, and became an important pillar for the company’s growth and strengthening. 　　Yongmei continuously optimizes its industrial structure to improve the overall efficiency of the enterprise. Six years ago, Yongmei Group was a company with a single industry, a single product, and single ownership structure. By continuously deepening its shareholding system reforms, establishing a modern corporate governance structure, and accelerating the optimization of its industrial structure, the company’s overall efficiency has seen rapid improvement. The number of subsidiaries has grown to over 60, located in 14 cities across the province as well as in 8 provinces and regions nationwide; some of them are even overseas. The company has developed four key industrial sectors: coal, chemicals, non-ferrous metals, and machinery manufacturing, all of which are among the best in their respective industries. The value of non-coal-related products now accounts for over 72%, and the company’s ranking among China’s top 500 enterprises has risen by 290 places in just two years, **enhancing Yongmei’s economic vitality and influence in the industry.