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(Bloomberg) — Chinese regulators have approved a plan for the country’s biggest coal miner to acquire 133.6 billion yuan ($19 billion) of assets from its parent firm, a move aimed at cushioning the company as coal consumption starts to plateau.
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China Shenhua Energy Co. will take stakes in 12 units of China Energy Investment Corp. including coal-to-chemicals, mining, power generation and logistics, it said in an exchange filing on Thursday. The move would deepen its vertical integration and expand the total value of its assets to nearly 900 billion yuan, it said.
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The China Securities Regulatory Commission has approved Shenhua’s plan to issue shares to help pay for the purchases, it said in a statement late on Thursday.
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Chinese coal miners have been hit by falling prices due to oversupply as consumption is expected to reach a peak as soon as this year. Wind and solar capacity combined has already surpassed thermal power, following years of heavy investment in renewables and policies requiring new data centers to get at least 80% of their electricity from green sources.
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The proposal was first outlined in December, with China Energy Investment saying it would enhance efficiency across the supply chain. It would boost Shenhua’s coal production capacity to 512 million tons a year, about a 10th of China’s total, more than triple its polyolefin production and raise the company’s installed power capacity to nearly 61 gigawatts.
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Shenhua reported a decline in profit for 2025 in a preliminary earnings release late last month.
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