On the afternoon of the 13th, Luan Chemical Group held a cadre meeting and announced the election of the group leader. Former Jinmei Group General Manager Wang Zhiqing served as Chairman of Lu'an Chemical Group, former Luan Group General Manager Liu Junyi as General Manager, former Luan Group Deputy General Manager Ma Junxiang as Deputy General Manager, and former Yangyang Coal Group Deputy General Manager Lu Weiyun as Deputy General Manager .
A number of sources revealed that Lu'an Chemical Group was adopted by the Shanxi Provincial Party Committee Executive Meeting to establish a Shanxi coal enterprise chemical business integration and reorganization platform. According to investigations, Luan Chemical Group has not officially registered.
According to the Energy Magazine report, after the establishment of Lu'an Chemical Group, Shanxi Province will begin to promote the integration and reorganization between Lu'an Group, Yangmei Group and Jinmei Group, and said that one of the more credible restructuring directions is:
Using Luan Chemical Group as a platform, the three corresponding chemical assets and supporting coal mines will be classified and specialized in coal chemical business;
Mainly based on Jinmei Group, the assets of the three corresponding coal mines are allocated to specialize in the production and sales of coal;
Yangyang Coal Chemical Machinery Group, a subsidiary of Yangmei Coal Group, mainly absorbs the corresponding equipment manufacturing assets of the three companies and specializes in chemical machinery manufacturing.
At present, Lu'an Chemical Group has not completed industrial and commercial registration, but Luan Group's subsidiary has previously been clearly a modern coal chemical asset integration platform-Shanxi Lu'an Chemical Company. As an integrated platform for high-end coal chemical industry in Shanxi Province, Shanxi Luan Chemical was officially listed in February 2018, bearing the heavy burden of Luan Group’s main business transformation from coal mining to modern coal chemical industry. In order to promote the Group's accelerated transformation, as early as around July 2018, Shanxi Luan Chemical completed the equity integration of more than ten major subsidiaries in the coal and coal chemical industry of the Luan Group.
The coal chemical businesses of Lu'an Group and Yangmei Group have corresponding listed companies, namely Lu'an Huaneng Holdings controlled by Lu'an Group and Yangmei Chemical Holdings controlled by Yangmei Group.
It is unclear whether the integration of the chemical business between Lu'an Group and Yangmei Group involves listed companies. As of now, neither Yangmei Coal Chemical nor Luan Huaneng has issued corresponding announcements.
If the three coal chemical assets of Jinmei, Luan and Yangmei are combined into one, there is no doubt that the newly established Luan Chemical Group will become a coal chemical industry giant with annual revenue of over 100 billion yuan.
At present, the official has not disclosed the framework of Luan Chemical Group's integration and reorganization, so this heavy reorganization still has suspense, and future progress is worthy of attention.
