Pingyao coal company wins provincial award

Pingyao Coal Chemical Group was lauded as one of Shanxi province's most outstanding companies at the Shanxi Entrepreneur Conference held in Taiyuan on Jan 3.

Deriving from a small colliery which was founded in 1958, Pingyao Coal Chemical Group was restructured and established a shareholding system with all employees becoming shareholders in 2002. The company has been focusing on safety, industrial transformation, and innovation and development, as well as forming an industrial layout made up of one economic and industrial zone and four industrial parks.

The coal and coking circular economy industrial zone involves coal preparation, coking chemicals, recycling chemical products, wastewater treatment, new construction materials and rail transportation. The four industrial parks are: Uni-Moon New Material Industry Park, Tangdu Polished Lacquer Ware Creative Park, Agriculture and Forestry Industrial Park of Hengpo ancient village, and New Energy (Natural Gas) Industry Park.

In 2017, the total output value of Pingyao Coal Chemical Group increased 24.8 percent year on year and sales increased 34.4 percent year on year. The group paid over 300 million yuan ($46.15 million) in taxes, representing year-on-year growth of 140 percent. The per capita wage of each employee rose by over 20 percent.

The non-coal part of the business featuring natural gas, new materials, stone paper and polished lacquer ware, also brought the company significant profits with sales increasing 36 percent year on year.

The Shanxi Entrepreneur Conference awarded 50 Shanxi companies, including 10 state-owned enterprises, 20 private businesses and 10 tech companies.