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First Debt-to-Equity Coal Enterprise Set up Stock Co. Ltd.
The Hebi Coal Industry (Group) Co. Ltd. of Henan Province which has fulfilled the goal of shaking off difficulties in three years ahead of schedule, recently held the inauguration of the Hebi Electric Coal Co. Ltd. together with four other legal entities. The Hebi Coal Industry (Group) Co. Ltd. has constantly transformed its operational mechanism and been marching toward a modern enterprise system
Founded last April on the basis of the original Hebi Mining Administration, the Hebi Coal Group is a large key State coal enterprise as well as the first debt-to-equity enterprise of China's coal industry department and Henan Province.
From January to November of this year, it had raked in a business value of 1.418 billion yuan, the figure is estimated to be 1.564 billion yuan for the whole year, reaching an all-time high.
The Group also persists in a strategy of attaching equal importance to the development of coal and non-coal industries and vigorously develops diversified businesses. At present, there are more than 1,000 types of non-coal products, involving over 10 industries like electric power, construction materials, metallurgy, machinery and chemistry. The total business value of non-coal industries will reach 800 million yuan, accounting for half of the company's total output value.
By PD Online Staff Deng Gang
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