China Shenhua will be the new general manager

Shenhua, the world's largest coal listed company, handed over its first half report card. On the evening of August 23, Shenhua China issued a semi-annual report showing that the company's revenue in the first half of the year was 116.365 billion yuan, down 8.6% from the previous year, achieving 52.6% of its annual operating target, and its net profit was 24.243 billion yuan, up 5.5% from the previous year.

Shenhua of China said that the main reason for the decline in business income during the period was the decline in coal sales and prices. On the evening of the same day, China Shenhua also announced that the board of directors had approved the appointment of Yang Jiping as general manager of China Shenhua and Zhao Yongfeng as deputy general manager of China Shenhua.

According to the announcement of the revised articles of Association issued by Shenhua, China, the expressions of "president", "vice president" and "chief financial officer" in the articles of association of the company were revised to "general manager", "deputy general manager" and "chief accountant".

Yang Jiping was born in 1970 and is currently the director of the Coal Industry Operation and Management Center of National Energy Group. From November 2009 to August 2011, Yang Jiping was appointed Deputy General Manager and Chief Engineer of Shenhua Ningxia Coal Industry Group Co., Ltd.

From August 2011 to August 2019, Yang Jiping served as Vice General Manager, Director, Deputy Secretary of the Party Committee, General Manager, Secretary of the Party Committee and Chairman of Shenhua Wuhai Energy Co., Ltd. Since the second half of last year, the high-level personnel of Shenhua has changed frequently. Last September, Lv Zhiren, the vice president of the company, resigned; in October of the same year, two senior vice presidents of the company, Li Dong, Wang Jinli, and one vice president, Wang Shumin, resigned. At the end of April, Ling Wen, then chairman of Shenhua China, was transferred to Shandong Province. Therefore, he resigned from the board of directors and was succeeded by Wang Xiangxi, chairman of the State Energy Group. On August 6, Huang Mingbo, the director of the company, resigned as an independent non-executive director and as a member of the nominating committee of the board of directors. On August 8, Zhang Jiming, president of Shenhua, China, resigned from the board of directors.

Shenhua China was founded in 2004, which is the largest coal listed company in China and even in the world. The former controlling shareholder is Shenhua Group.

As of 30 June this year, the total market value of Shenhua in China is US$56 billion (about RMB 397.2 billion).

In November 2017, the former China Electric Power Group and Shenhua Group announced the merger and reorganization and formally established the National Energy Group. The reorganization of

two groups is to realize coal-electricity pooling and build coal-electricity integration. It is believed that this will open the pioneer of domestic coal and electricity industry restructuring.

The combined State Energy Group, with assets exceeding 1.8 trillion yuan, has become the fourth largest energy central enterprise in China after the State Grid, PetroChina and Sinopec.