China Shenhua Energy

China Shenhua Energy
partial State-owned enterprise
Traded as
Industry Metals and Mining
Founded 1995
Headquarters Beijing, People's Republic of China
Area served
 People's Republic of China
Key people
 Chairman: Mr. Zhang Yuzuo
Products Coal
Services Coal production, transportation, Electricity generation
Number of employees
 74,949 (2011)
Parent Shenhua Group (73.06%)
Website www.csec.com
China Shenhua Energy Company Limited
Simplified Chinese 中国神华能源股份有限公司
Traditional Chinese 中國神華能源股份有限公司

China Shenhua Energy Company Limited known as Shenhua or China Shenhua or Shenhua Energy (Chinese: 神华能源) is the largest coal mining state-owned enterprise in Mainland China, and the largest coal mining enterprise in the world.[1] It is a subsidiary of Shenhua Group.[2] It is engaged in the production and sale of coal and the generation and sale of electric power in the PRC. It operates coal mines as well as an integrated railway network and a seaport that are primarily used to transport its coal. It also operates power plants in the PRC which are engaged in the generation and sales of coal-based power to provincial and regional electric companies.

Recent History

On August 15, 2005, China Shenhua Energy joined Hang Seng China Enterprises Index Constitute Stock.

On August 23, 2007, China Shenhua Energy announced that it will issue not more than 1.8 billion A share to provide rooms for its parent company, China Shenhua Group, to inject the capital into it for its long-term development.

On October 9, 2007, China Shenhua Energy listed A share in the Shanghai Stock Exchange. The closed price at the first trading day was RMB$69.3, 87% higher than its IPO price, RMB 36.99.

On November 7, 2007, Hang Seng Index Services Company announced that China Shenhua would have been Hang Seng Index Constituent Stock since December 10, 2007.

In September 2009, Shenhua announced that over four years they will invest $39.5 billion in coal to increase their production.[3]

In September 2010, the company agreed a contract with Mitsui & Co. in an extensive ranging cooperation in the coal industry from shipping and overseas mine development to effectiveness of coal usage and chemical manufacturing.[4]

In December 2010, Shenhua invested $2 billion in the construction of a railway; 35 percent using its own capital and the remainder from bank lending.[5]

In July 2011, Shenhua acquired a 40 percent stake in Mongolia's biggest coal project, with a Russian syndicate controlling 36 percent and Peabody Energy Corp of America owning the remaining 24 percent.[6]

See also

References

  1. ↑ GE to sign slew of China deals
  2. ↑ "Shenhua says won't shift CTL plant to listed arm". Reuters. 2008-03-06. Retrieved 2008-03-12.
  3. ↑ Moore, Malcolm (1 September 2009). "China Shenhua announces £24bn coal investment - Telegraph". The Daily Telegraph. London: TMG. ISSN 0307-1235. OCLC 49632006. Retrieved 19 July 2011.
  4. ↑ "Mitsui & Co strikes coal deal with China's Shenhua - MarketWatch". marketwatch.com. 2011. Retrieved 19 July 2011.
  5. ↑ Lee, Melanie (2011). "China Shenhua to build railway for $2 bln | Reuters". reuters.com. Retrieved 19 July 2011.
  6. ↑ "China's Shenhua Energy Co to acquire stake in Mongolia’s Biggest Coal Project - Proactiveinvestors (AU)". proactiveinvestors.com.au. 2011. Retrieved 19 July 2011.
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