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anhui tianda oil pipe co - h (839) Details

Anhui Tianda Oil Pipe Company Limited engages in the research and development, production, and sale of seamless pipes for the oil and natural gas industry primarily in the Mainland China and internationally. It offers oil well pipes for use in fixing the wall of well during petroleum and natural gas exploitation, as well as drawing out the oil and gas underground; and seamless steel pipes, such as marine and boiler pipes for use in ship building and boiler making. The company provides oil well pipe products, such as casings, oil pipes, drill stems, kelly stems, and drill collars. It also offers seamless tubes for use in oil and natural gas conveying and in refining industry. The company was founded in 1993 and is based in Tianchang, China. Anhui Tianda Oil Pipe Company Limited is a subsidiary of Anhui Tianda Enterprise (Group) Company Limited.

Founded in 1993

anhui tianda oil pipe co - h (839) Top Compensated Officers

Deputy Chairman, Chief Executive Officer, Gen...
Total Annual Compensation: CNY479.0K
Chairman
Total Annual Compensation: CNY479.0K
Chief Financial Officer, Deputy General Manag...
Total Annual Compensation: --
Deputy General Manager and In Charge of Resea...
Total Annual Compensation: CNY140.0K
Supervisor
Total Annual Compensation: CNY59.0K
Compensation as of Fiscal Year 2013.

anhui tianda oil pipe co - h (839) Key Developments

Anhui Tianda Oil Pipe Company Limited Reports Unaudited Operational Results for the First Quarter Ended March 31, 2014

Anhui Tianda Oil Pipe Company Limited reported unaudited operational results for the first quarter ended March 31, 2014. For the quarter, the company total sales volume of 120,460 tonnes against 1480,470 tonnes last year and total production volume of 156,320 tonnes against 184,110 tonnes last year. In this quarter, the company’s realized production and sales volume were decreased by 15.1% and 33.3%, respectively, as compared to the corresponding period of last year, mainly due to the reasons below: for improving production efficiency, saving energy consumption per ton and reducing costs of production, the company spent one month time before and after Chinese new year for maintenance and technological upgrade of PQF mill; the company actively made adjustment to product mix structure and customer base structure, promoted the products with comparatively higher added-values and reduced the sales volume of certain products with lower profit margin; as mentioned in the announcement dated 12 February 2014, the company entered into the extended sales agreement with Vallourec which constituted as continuing connected transactions and is subject to the shareholders’ approval in the general meeting. As the relevant general meeting was delayed after March 2014, relevant orders placed by customers has to be postponed until the shareholders’ approval is obtained and the company has not realized sales in this respect in this quarter. The sales of those products will be realized upon delivery after shareholders’ approval. Despite the significant decrease in the company’s realized production and sales volume in this quarter as compared to the corresponding period of last year due to above reasons, the company implemented a series of management measures for cost reduction and structure adjustment which stabilize the average profit margin of the products with a slight increase, enhance the potential for future development and improve the ability of sustainable development.

Anhui Tianda Oil Pipe Company Limited to Amend Articles of Association

Anhui Tianda Oil Pipe Company Limited proposed to amend the articles of association to the annual general meeting to be held on May 23, 2014.

Anhui Tianda Oil Pipe Company Limited Announces Executive Changes

The board of directors of Anhui Tianda Oil Pipe Company Limited announced that Mr. Wu Chang Qi tendered resignation as the company’s Independent Non-executive Director and the member of Audit Committee, the Chairman of the Nomination Committee and the Chairman of the Remuneration Committee with effect from March 31, 2014 and Mr. Geng Wei Long tendered resignation as the Supervisor and the Chairman of the Supervisory Committee with effect from the same date, due to better concentration on their respective other businesses and the company’s internal arrangement.

 

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