China Pingmei Shenma Holding Group Co., Ltd. (中国平煤神马控股集团有限公司) is a state-owned mega energy and chemical conglomerate controlled by Henan State-owned Assets Supervision and Administration Commission (Henan SASAC) with 50.15% stake.
The company was incorporated on December 3, 2008 through the reorganization and integration of Pingmei Group (平煤集团) and Shenma Group (神马集团). It has a registered Capital of 194.32 billion RMB (as of latest approval date September 6, 2023), and ranks 168th in China's Top 500 Enterprises 2024.
Business Focus
The group specializes in coal mining, coking, nylon chemicals, and new materials:
Coal and Energy Operations:
- China's largest coking coal production base
- Domestic production base with the most complete varieties of coking coal and thermal coal
Nylon and Chemical Manufacturing:
- China's largest nylon chemical production base
- World's largest producer of nylon 66 industrial yarn and tire cord fabric
- Asia's largest and world's fourth-largest producer of nylon 66 salt
- China's largest producer of nylon 66 chips
Listed Companies
Pingmei Shenma controls four listed companies:
- Pingmei Co., Ltd. (Pingmei Shares/平煤股份) - Coal mining operations
- Shenma Industrial Co., Ltd. (Shenma Shares/神马股份) - Nylon chemical manufacturing
- Yicheng New Energy (易成新能) - New energy materials
- Silane Technology (硅烷科技) - Silicon-based materials
Additionally, 6 specialized enterprises are listed on China's New Third Board.
Major Subsidiaries and Production Facilities
First Tier Subsidiary
As of November 2025, China Pingmei Shenma Holding Group Co., Ltd. serves as the parent holding company after Henan SASAC injected its 100% stake in Henan Energy and Chemical Industry Group Co., Ltd. into Pingmei Shenma as a capital contribution, making Henan Energy and Chemical Industry a wholly-owned first-tier subsidiary. This consolidation created one of China's largest energy and chemical conglomerates, with Henan SASAC maintaining ultimate control through its 50.15% controlling stake in Pingmei Shenma. Despite the ownership restructuring, both groups continue to operate their respective subsidiaries and business segments independently, with Pingmei Shenma focusing primarily on coal mining, coking, and nylon chemicals while Henan Energy maintains its coal mining, coal gasification, and chemical manufacturing operations.
Nylon and Chemical Manufacturing:
- China Pingmei Shenma Group Nylon Technology Co., Ltd. (尼龙科技公司): Located in "China Nylon City," Ye County, Pingdingshan; produces caprolactam (300,000 t/a, expanding to 600,000 t/a by 2026), cyclohexanone (150,000 t/a)
- Shenma Industrial Co., Ltd.: Produces nylon 66 industrial yarn, tire cord fabric, nylon 6 and nylon 66 chips
- Adipic Acid Production: Current capacity 400,000 t/a, with 200,000 t/a expansion under construction to reach 600,000 t/a total capacity; plans to become the world's largest and most competitive adipic acid producer
- Nylon 66 Salt Production: Asia's first, world's fourth position
Coal and Coking Operations:
- Henan Pingmei Shenma Shoushan Carbon Materials Co., Ltd. (河南平煤神马首山碳材料有限公司): One of the self-owned coking companies
Support Services:
- China Pingmei Shenma Group Finance Co., Ltd. (中国平煤神马集团财务有限责任公司): Established July 22, 2013; registered capital 3 billion RMB; located in Chang'an Avenue, Pingdingshan
- China Pingmei Shenma Energy Chemical Group International Trading Co., Ltd. (中国平煤神马集团国际贸易有限公司): International trading subsidiary
- Pingmei Shenma Leasing Co., Ltd. (平煤神马融资租赁有限公司): Financial leasing company established in Shanghai
Strategic Development Focus
The "China Nylon City" project in Pingdingshan aims to achieve "3×600,000 tons" production capacity by 2026:
- 600,000 t/a caprolactam
- 600,000 t/a adipic acid
- 600,000 t/a nylon 6 and nylon 66 chips combined
- Target annual output value: 50 billion yuan
