Report on the Work of Yongxing 2020

The year of 2020 was an extraordinary year which witnessed the epidemic, natural disaster, and war. In the first half of the year, we encountered the rise of raw material price and labor cost and also the plummeting decline of foreign oil prices. However, we cannot rise our product price in line with the market for fear of losing our customers. We were in a dilemma that our customers required a lower price. Towards the end of the year, the epidemic rebounded, which made people panic again. We never know when this situation would end.

In 2020, under the leadership of Chairman Wu Yamin, Yongxing overcame the impact of various unfavorable factors by turning passivity into initiative, seeking opportunities in crises, and focusing on customers. People in Yongxing firmly believed that our benefit and our customers’ were closely tied together and our progress evolved from customers’ development. Facing the plight that our interests were swallowed by various factors, we internally improved efficiency and increased benefits to keep the overall sales increased by 40%.

Yongxing made major breakthroughs in new product development. The vertical scale ring, fixed scale device, isolator, and continuous tilt calibration device were all put into production and successfully delivered to CNPC logging. The 232℃-resistant insulating short joint and the array side electrode system passed the high temperature and high pressure test of China National Offshore Oil Service and were put into production. High-resolution shells, insulated short joints,, induction shells, MAC sheaths, double-lateral logging electrode systems, and double-insulated natural potential electrode joints were widely used in major oil fields and well received.

In 2020, we focused on our own management and strength by revising the quality management manual and operation instruction to make them more practical and operable to guide the daily production standardized and normalized and ensure the safety and reliability of our products.

It has been 19 years since the establishment of Yongxing. Over the past 19 years, Yongxing always remembered its original intention of “setting up the factory with professonality and commitment” and “quality comes first, service is supreme, go forward with sincerity”. In addition, our direction was to provide customers good-quality and prominent service.

Wish the epidemic end soon and world be peaceful!

Wish our customers, friends and their families safe and sound!

Jan. 1, 2021 in Xi’an