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Henan Province Energy Giant Emerges! Strategic Restructuring Planned Between China Pingmei Shenma Group and Henan Energy Group; Plastic Market Fluctuates Narrowly

Plastmatch 2025-09-26 10:42:54

1. A giant energy conglomerate in Henan is emerging! China Pingmei Shenma Group plans to strategically restructure with Henan Energy Group.

On September 25th, listed companies under China Pingmei Shenma Group (hereinafter referred to as "China Pingmei Shenma Group"), including Pingmei Co., Shenma Co., Yicheng New Energy, Silane Technology, and listed companies under Henan Energy Group Co., Ltd. (hereinafter referred to as "Henan Energy Group"), such as Dayou Energy, have successively issued announcements stating that the company has received notification from its controlling shareholder. According to the decision of the Henan Provincial Party Committee and the Provincial Government, China Pingmei Shenma Group intends to implement a strategic restructuring with Henan Energy Group.

Public information shows that China Pingmei Shenma Group was formed by the merger of two Fortune 500 companies, the former Pingmei Group and the former Shenma Group, at the end of 2008. As of now, the asset scale exceeds 280 billion yuan, and it holds controlling stakes in four listed companies (Pingmei Shares, Shenma Shares, Yicheng New Energy, and Silane Technology) as well as six specialized and innovative enterprises on the New Third Board.

China Pingmei Shenma GroupBased on the advantages of coking coal resources, multiple distinctive industrial chains including coal-based nylon chemicals, carbon materials, and silicon materials have been established. A modern industrial system with diversified support and coordinated development of coal coking, nylon chemicals, and new energy materials has been constructed, continuously promoting the high-end, intelligent, and green development of industries. Its industrial resources include:

Coke industry

With the most comprehensive range of domestic coking coal products, the production base leads the world in the quality of primary coking coal, boasting a coal production capacity of 70 million tons, with over 80% of raw coal being washed. The annual production of premium coking coal remains stable at 12 million tons. At the same time, efforts are being made to transform coal into chemical raw materials, exploring new pathways such as the liquefaction of premium coking coal.

Nylon chemical industry

The largest nylon chemical production base in the country, with the world's largest production scale of tire cord fabric and industrial yarn, and nylon 66 salt and engineering plastics production capacity ranking among the top in Asia; has formed a "dual nylon" industrial structure, with products covering hundreds of varieties such as nylon 66 chips and adipic acid, applied in fields such as tires and aerospace, and is currently developing high-end products such as large aircraft tire framework materials.

New energy and new materials

Focusing on the main line of the silicon and carbon materials industry, we vigorously cultivate semiconductor materials and chip substrates, as well as new energy storage and integrated source-grid-load-storage. We are making advanced layouts in fields such as fourth-generation semiconductor materials, high-end photovoltaics, next-generation energy storage, and hydrogen energy. Currently, the installed capacity of photovoltaic, wind, and gas new energy has reached 917.8 megawatts, with energy storage station capacity at 335 megawatts and a green electricity substitution rate of 34.6%. The production capacity of silane gas, ultra-high power graphite electrodes, and silicon carbide powder ranks first in the country (with silicon carbide powder purity reaching 99.9999998%).

Henan Energy GroupHenan Energy Group is a large energy conglomerate approved for establishment by the Henan Provincial Committee and the Provincial Government. On December 5, 2008, it was formed through the strategic restructuring of the original Yongmei Group, Jiaomei Group, Hemei Group, Zhongyuan Dahua, and Henan Gas Group into Henan Coal Chemical Group. On September 12, 2013, it strategically restructured with the original Yimei Group to become Henan Energy Chemical Group, and on July 8, 2022, it was officially renamed Henan Energy Group. The group has a registered capital of 21 billion yuan and holds controlling stakes in two listed companies, Dayou Energy and Jiutian Chemical (listed in Singapore), as well as one new third board company, Puyang Luyu New Materials.

Henan Energy Group has coal resources amounting to 28.4 billion tons, primarily consisting of anthracite coal for blast furnace injection and coking coal. Its chemical product capacity is nearly 10 million tons, including capacities for new chemical materials such as carbon fiber and polyoxymethylene. The group currently operates 52 production mines with a capacity of 88.65 million tons and has 34 large-scale chemical enterprises with 94 chemical installations.

The strategic merger of the two major groups is an important step for Henan Province to promote the transformation and upgrading of the coal and chemical industry and optimize the layout of state-owned capital. After the merger is completed, it is expected to achieve complementary advantages in resources, technology, and industrial layout, integrate industrial chain resources, reduce homogeneous competition, enhance the enterprises' ability to resist risks and market competitiveness, and thus drive the coal and chemical industry in Henan Province toward higher quality and more sustainable development. It will also strengthen Henan Province's position and influence in the national energy and chemical sector.

The related listed companies stated in their announcements that this restructuring will not have a significant impact on the company's production and business activities. The actual controller of the company is the State-owned Assets Supervision and Administration Commission of Henan Province, and the company's control will not change.

II. Today's Plastic Prices

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Henan Province Energy Giant Emerges! Strategic Restructuring Planned Between China Pingmei Shenma Group and Henan Energy Group; Plastic Market Fluctuates Narrowly

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