The “horn” signaling Pengfei’s transformation has sounded nationwide.

Release Date:

2018-09-30

News Highlights: On September 27, the first installment of CCTV-2’s “Economic Information Broadcast” series, titled “Financial Headlines: A New Start for Reform and Opening-Up,” visited Shanxi Province—specifically Lüliang and Pengfei. What message does this send? The “call to action” for Pengfei’s transformation has resonated nationwide. As China’s leading coal‑rich province, Shanxi once thrived on coal but later suffered as a result. Starting in 2014, its economic growth rate ranked near the bottom for three consecutive years. However, beginning in 2017, Shanxi embarked on a new phase of transformative development; by the first half of 2018, its growth ranking had climbed to 17th place, marking the 26th consecutive year since 2012 that it has improved steadily.

On September 27, the first installment of CCTV-2’s “Economic Information Broadcast” series, titled “Financial Headlines: A New Journey of Reform and Opening-Up,” took viewers to Shanxi Province—specifically to Lüliang and Pengfei. What message does this send?

As a major coal‑producing province nationwide, Shanxi rose on the back of its coal industry but also suffered as a result. Starting in 2014, its economic growth rate ranked near the bottom for three consecutive years. However, beginning in 2017, the province embarked on a new phase of transformation and development; by the first half of 2018, its growth ranking had climbed to 17th place—its highest position in 26 consecutive quarters since 2012. This is nothing short of a remarkable turnaround, demonstrating that Shanxi has broken free from its overreliance on coal and is now sending a fresh signal of an energy revolution across the country.

It is often said, “China’s coking industry looks to Shanxi, and Shanxi’s coking sector looks to Lüliang.” Lüliang accounts for half of Shanxi’s total coking capacity. As a successful microcosm of the transformation and upgrading of traditional industries in a major national energy hub, Lüliang has, as Mayor Wang Liwei noted in an interview, “reduced the share of the coal industry in value added to below 50%.” Lüliang’s renewed rise amid the broader energy revolution carries even greater significance and resonance for China’s nationwide energy transition and structural transformation.

During his inspection tour in Lüliang, General Secretary Xi Jinping repeatedly highlighted the “Lüliang Spirit.” Guided by this noble spirit, amid the tide of transformation and development, more outstanding enterprises have emerged, along with a growing cohort of visionary entrepreneurs capable of shouldering great responsibilities. There is no doubt that Pengfei is a contemporary embodiment of the Lüliang Spirit, and Chairman Zheng Peng is a living exemplar of the entrepreneurial spirit of our times.

Zheng Peng, Chairman of Shanxi Pengfei Group: Back then, there was a saying: “Turning means courting death; failing to turn means waiting for it.” The key is to adopt a fresh perspective, broaden our horizons, and recognize the new opportunities that lie beyond coal and coke.

“Transforming is courting death; failing to transform is waiting for it.” Faced with the coal market’s downturn and sluggishness, transformation has become an inescapable challenge for every enterprise. Chairman Zheng Peng, keenly assessing the situation, resolutely led the people of Pengfei in shouldering the banner of transformative development, thereby unfolding a grand vision for the company’s future growth.

Zheng Peng, Chairman of Shanxi Pengfei Group: During the combustion of refined coal, liquid crude benzene, coal tar, and coke oven gas are produced—three key by‑products of the coking process. Using a fluidized‑bed technology, these can be converted into a range of products, including gasoline, diesel, kerosene, lubricating oil, carbon fiber, carbon microspheres, and ultra‑high‑quality crystalline coke, all with carbon emissions below the C6 level.

The energy revolution represents a momentous historical opportunity for Shanxi, for Lüliang, and for Xiaoyi; it is also a major growth prospect for traditional coal‑and‑coking enterprises and an inevitable path toward their transformation and development. Opportunities are reserved for those who are prepared, and this rare historic chance is no exception—it belongs to forward‑thinking companies like Pengfei. From the very outset of its transformation, Pengfei has positioned itself at the high end of the industry, with a global outlook, embracing a visionary approach that transcends the times. By attracting top‑tier, cutting‑edge talent, adopting state‑of‑the‑art processes, and investing in the most advanced environmental protection technologies, Pengfei has forged a new chapter in its fight to safeguard clean skies and to lead the charge in the energy revolution, laying a solid foundation for the company to spearhead industry development in the new era.

Pengfei is a source of pride for Lüliang and a benchmark for Shanxi. During an interview, a CCTV reporter explicitly noted that there are now more than a dozen energy companies achieving clean production—but only Pengfei, as the province’s model enterprise leading the energy revolution, was granted an exclusive interview. Through this coverage, Pengfei has showcased its new image in the new era, setting a clear standard and providing an inspiring example for the transformation and upgrading of energy enterprises across the province and even the nation. What a remarkable achievement—and what a great honor! Yet it also places greater pressure on us, urging us to move forward with even greater determination and courage toward a cleaner, greener, and more sustainable future, ensuring that the Pengfei brand resonates throughout China and the world.