2021 marked the inaugural year of Pengfei’s management transformation. During this year, we ignited a new engine for accelerated growth, embraced a fresh mission in hydrogen‑energy development, infused fresh momentum into our transformation and upgrading efforts, embarked on a new model of cultural‑tourism integration, broadened innovative pathways for university–enterprise collaboration, achieved notable progress in building our corporate culture, stepped up to new responsibilities in social contribution, and set out on a new journey as a member of China’s Top 500 Enterprises.

This year, we embraced innovation and transformation, pressing forward with determination; this year, we laid the groundwork and accelerated our digital transformation; this year, we built on our accumulated strengths to steadily reach new heights; and this year, we forged a distinctive path of transformative development.

Hydrogen energy industry

In the national 14th Five-Year Plan, emerging energy industries have been designated as key priorities. Hydrogen energy is regarded as an ideal clean energy source with significant development potential in the 21st century, offering advantages such as zero carbon emissions, high efficiency, energy storage capability, and safety and controllability. It is a strategic energy resource under the national overarching goals of peaking carbon emissions and achieving carbon neutrality.

During the 14th Five-Year Plan period, what are Pengfei Group’s strategic plans for developing the hydrogen energy industry?

Focusing on the development of the hydrogen energy industry during the 14th Five-Year Plan period, we have formulated a hydrogen energy plan that calls for an investment of RMB 20 billion. The initiative will prioritize hydrogen production, storage, and end-use applications, as well as the manufacturing of high-end equipment. Furthermore, we will take the lead in promoting hydrogen refueling stations and hydrogen-powered heavy-duty trucks in Shanxi Province, thereby establishing a completely new hydrogen energy industrial chain.

——Zheng Peng

The hydrogen production project at the Pengwan Hydrogen Port Industrial Park utilizes coke oven gas to produce hydrogen and is being developed in three phases. It is a key project under the supervision of the Shanxi Provincial Party Committee and has been designated as a priority project in Shanxi Province’s 14th Five-Year Plan. The project is designed with an annual capacity of 200,000 tons.

On January 1, 2021, the first phase of the 20,000-ton-per-year hydrogen production project from coke oven gas officially broke ground during the province’s 2021 first‑phase “Three Batches” initiative in the development zones.

On April 17, 2021, Pengfei Group signed a general contracting agreement with China National Machinery Industry Corporation and China National Chemical Engineering Ninth Construction Co., Ltd. for the first phase of the Pengwan Hydrogen Port Hydrogen Energy Industrial Park—a 20,000-ton-per-year hydrogen production project based on coke oven gas—marking the project’s entry into the substantive construction phase.

Adhering to the principle of “commencing construction, commissioning, and achieving results all in the same year,” by the end of December 2021, the Pengwan Hydrogen Port Hydrogen Energy Industrial Park project had successfully met its target of completing more than half of both the schedule and the construction work. Entering 2022, the project is advancing rapidly according to plan: civil works are nearing completion, installation is more than halfway through, external pipeline works have been finished, and internal pipeline installation has begun. The remaining tasks are expected to be completed shortly, with commercial operation scheduled for June 2022.

Hall of Fame

From 2019 to 2021, Pengfei Group was consecutively listed among the Top 500 Chinese Private Enterprises and the Top 500 Chinese Manufacturing Private Enterprises for three years, with its ranking steadily and significantly improving.

In 2021, Pengfei Group made its debut on the China Top 500 Enterprises list, ranking 354th and becoming the only private enterprise from Shanxi Province to be included.

Taking on social responsibility has become a self‑driven, unwavering commitment for Pengfei over its more than 20 years of development. ——Zheng Peng

How can one say there is no garment?

To share the same coat with my son.

Standing Together to Fight Floods, Women Show Compassion

Pengfei has love; we can win.

Industry–University–Research Collaboration

Since its establishment 29 years ago, the Group has steadfastly upheld the principle that “national strategy is Pengfei’s strategy, and the pace of the times is Pengfei’s guiding direction,” dedicating itself to building a vision of “Innovation-driven China, Innovation-driven Pengfei.” Each year, the Group invests over RMB 500 million in scientific and technological research and development, has forged close university–enterprise partnerships with numerous institutions, and established the Pengfei Industry College to cultivate industry‑specific talent. In collaboration with Taiyuan University of Technology, it co‑founded the Green and Intelligent Coal‑Coke Chemical Industry Science and Technology Research Institute. More than 50 university professors are employed full-time at Pengfei Group, and the company has secured over ten patents.

Pengfei Group and Renmin University of China have joined forces once again to co-create and build Pengfei Group’s corporate culture.

Pengfei Group and Taiyuan University of Technology Embark on a New Journey of Strategic Collaboration

Pengfei Group · China University of Mining and Technology: Intelligent Development and Smart Mining Toward the “Dual Carbon” Goals

Pengfei Group, China National Engineering Consulting Group, and the Shanxi Institute for Industrial Carbon Neutrality are working together to build a world‑leading smart clean‑energy enterprise.

Major project

Following the commissioning of Pengfei Coking’s dry quenching project on August 20, 2020, Pengfei Group’s another key energy‑saving and environmentally friendly initiative—the Xinyu dry quenching project—was successfully put into operation on January 11, 2022. With this milestone, Pengfei’s coking business has fully entered the era of dry quenching.

Cultural and tourism integration

On August 26, 2021, the Pengfei Chenghuang Temple Commercial Plaza project, located in the heart of Qinsui County, officially broke ground. Upon completion, it will serve as a comprehensive commercial hub radiating throughout southeastern Shanxi, integrating cultural and artistic offerings, retail and entertainment, and exhibition spaces. This redevelopment initiative will also add another shining highlight to Qinsui’s cultural and tourism sector, providing a new growth engine for the Pengfei Group’s cultural‑tourism business segment.

On December 26, 2021, the “Wang Houxiang Calligraphy Creation Base” was officially unveiled at the Pengfei State Guest Hotel. The Pengfei Group will establish calligraphy creation bases named after Master Wang Houxiang across three of its hotels. This initiative not only enriches the cultural depth of the Pengfei Group’s cultural‑tourism hotel business but also holds profound significance for building a lasting cultural brand.

Time marches on, and the cycle of the year turns anew. As we embark on a new journey to implement the new development philosophy and forge a new development paradigm, in the face of the new era, evolving circumstances, and fresh demands, Pengfei Group will remain steadfast in its corporate mission: “To create happiness for those who are dedicated to the Pengfei cause.” We will vigorously uphold the Pengfei spirit—“transforming our mindset, keeping pace with the times, rising to challenges, and striving for excellence”—and unite the wisdom and strength of all our employees. By focusing on key priorities, enhancing quality and efficiency, managing risks, and scaling new heights, we will propel the Group toward comprehensive, high‑quality development in the year ahead.