Provincial State-owned Enterprises in Gansu Post Solid Growth in First Three Quarters

According to the Gansu Provincial State-owned Assets Supervision and Administration Commission, key economic indicators for provincial state-owned enterprises maintained steady growth between January and September 2026.

These enterprises recorded a total profit of 19.107 billion yuan, operating income from strategic emerging industries hit 108.223 billion yuan, and tax payments reached 20.84 billion yuan over the nine-month period.

Capital investment expanded at a faster pace. The provincial firms completed investment worth 81.7 billion yuan in the period, representing a year-on-year rise of 19.01 per cent. A string of major projects became operational. The first phase of Jinchuan Group’s 200,000-tonne lithium iron phosphate cathode material project was finished and put into use. Jiuquan Iron and Steel Group launched the world’s first combined rolling line integrating concentrated solar power equipment and conventional hot continuous rolling technology. The first batch of generating units at Gansu Diantou’s Qingyang green power direct supply demonstration project for data centres were connected to the grid. The first phase of Gansu Nenghua Group’s Baiyin gasification project entered trial production.

Modern corporate governance structures were fully implemented. The provincial enterprises refined the list of major decision-making items and improved pre-research mechanisms for Party committees, with greater focus on standardising board operations. A series of special initiatives were rolled out, including the development of world-class enterprises, cost reduction and staff optimisation programmes, and measures to boost the quality of listed firms. By the end of September, cash recovery from operating revenue, profit margin on revenue and gross margin had climbed by 1.2 percentage points, 0.87 percentage points and 1.97 percentage points respectively compared with the previous year.

R&D capacity continued to strengthen. The provincial state-owned enterprises poured 10.34 billion yuan into research and development in the first three quarters, up 9.95 per cent year on year. The R&D intensity of industrial enterprises stood at 3.26 per cent. Nine key technological breakthroughs were achieved, and 16 major scientific and technological achievements were successfully commercialised. Six enterprises, including Lanshi Petroleum Equipment Engineering Company and Jinchuan Precious Metal Materials Company, were named in the eighth batch of national specialised and sophisticated “little giant” enterprises.

The scale of strategic emerging industries kept expanding. The provincial enterprises invested 14.58 billion yuan in industrial digital, intelligent and low-carbon upgrading projects, upgrading 4,384 sets of equipment. Investment in strategic emerging industries totalled 9.284 billion yuan. Key enterprises including Jinchuan Group, Jiuquan Iron and Steel Group and Lanshi Group built industrial internet platforms, smart mines and digital factories, rolling out more than ten digital application scenarios such as digital twin technology and unmanned inspection systems. Lanshi Group built the province’s first integrated green hydrogen pilot demonstration base. The proportion of mid-to-high-end carbon and stainless steel products produced by Jiuquan Iron and Steel Group rose from 35 per cent to 61 per cent, while the share of mid-to-high-end aluminium products increased from 25 per cent to over 50 per cent. Baiyin Group pressed ahead with new material projects including high-conductivity copper-based materials and lithium manganese iron phosphate cathode materials. Strategic emerging industries made up 24 per cent of the group’s total operating income.

Cooperation projects between central and local enterprises delivered tangible results. Gansu signed 158 new central-local cooperation projects from the start of 2026. Ninety-three projects had started construction by the end of September, marking a construction start rate of 58.86 per cent. Gansu Diantou Group formed a joint venture with China Resources Power, establishing Gansu Diantou Runneng (Wuwei) New Energy Company to develop a 6,000-megawatt new energy project in the Tengger Desert. Gansu Provincial Airport Group partnered with China Eastern Airlines Technical Company to launch Longyan Aircraft Recycling Technology, creating the northwest’s first industrial platform covering the whole life cycle of aircraft. Central-local collaboration has shifted from single project cooperation to full industrial chain coordination.