Chairman Wu’s New Year Speech 2022

As a poem writes “Youth never comes again and time never waits anyone”, the year of 2021 has passed. Looking back over what we have experienced in the past 2021, I feel it is hard to describe it in words. What we are experiencing is the same as what we suffered last year with strict epidemic control, severe environment protection policy, rising raw material price, and soaring sea freight badly affecting our export business. What happened at home and abroad in 2021 and how the government policy changed to make people engaged in industry study the policies and make decisions carefully to prevent various risks, so as not to affect the steady progress of the enterprise.

The year 2021 witnessed market changes in China, such as de-financialization in real estate, de-marketization in medical care, de-capitalization in education, de-nationalization in media, and de-monopoly in internet platforms. These changes altered people’s recognition.

The year of 2021 was so difficult for us. In the beginning three months, we resumed production in many efforts, but hardships followed. In April, under the policy of “Bule Sky and Clear Water Protection”, environment protection was upgraded and the raw material price soared, which led to production at a standstill. In May, June, and July, the raw materials cannot be delivered on time and the delivery was tight. In September and October, the 14th National Games was held, and the company was in a state of semi-stop production. These are objective realities, and our company must face them seriously because we are closely connected with the interests of our customers.

RICHWELLLOGGING relies on its technical characteristics, deeply excavates the potential, actively develops and advances, closely follows the development trend of petroleum logging instruments, with the help of production equipment upgrading, introduces deep hole processing machine, and realizes the self-sufficiency rate of deep hole processing 100%. We have made a breakthrough in the development of new products. The high-temperature array lateral electrode of the logging instrument and the resistivity test system of a large rock sample of logging instrument have passed the high temperature and high-pressure test of COSL and been used, which have been recognized and praised by customers. The high-temperature array lateral electrode of the logging instrument has made up for the defects of the long ordering period and the high price of imported products. 230 ℃ 55 isolation body, 55 insulation pup joint, No magnetic workshop for logging instrument calibration, logging instrument half-space unit, 57.17 hard electrode assembly has been successfully delivered CPL, high-temperature resistant insulation pup joint, induction shell, dual later log electrode array, logging instrument double insulation natural potential electrodes have been widely used in oilfield, and get the consistent high praise.

In 2021, with the participation of all employees, RICHWELLLOGGING successfully passed the quality, environment, occupational health, and safety system re-certification, indicating that our management system kept effective and meet the requirements of providing customers with qualified, reliable, and safe products. Continue to implement and strengthen “On-site Lean Management” and “Team Quality Construction” throughout the production process to improve work efficiency.

In 2021, treating supply chain management during the epidemic period as important as marketing, our main leaders and supply chain managers visited all material suppliers one after another and signed 21 agreements including the “Integrity Agreement”, “Confidentiality Agreement” and “Annual Supply Framework Agreements” for 2022 with supplier partners. We required all managers and technicians to keep in mind the management philosophy of “cultivating suppliers, stabilizing supply chain, and achieving a win-win situation”. We always insisted on cooperating with reliable suppliers with strict quality control and using the highest quality raw materials to produce safe reliable products.

Today, the phrase “revere every product and respect every customer” has imprinted into the mind of every employee and has become their conscious action.

In 2021, the target of “carbon peak and carbon neutral” put forward by the Chinese government was a chance and challenge for us. At the same time, we actively responded to the call of the state by improving our internal efficiency and sales ability and reducing power consumption to fulfill our social responsibility in energy saving and emission reduction.

From the day when RICHWELLLOGGING founded, People in RICHWELLLOGGING set the goal of making RICHA a well-known brand and an enterprise with a century history and treated “Devotion and Profession” as our foundation. No matter how the international and domestic environment changes, this mission, responsibility, and sentiment towards the RICHWELLLOGGING brand will never change. As a professional company providing support services and special composite materials for the three major oil companies in China, RICHWELLLOGGING provided customers high-quality products and value-added services with a sense of responsibility to help customers create or maintain a competitive advantage. Through our excellent operating capabilities, we strived to create benefits for the company and create a new international image of RICHWELLLOGGING As a result, everyone in RICHWELLLOGGING may enjoy wealth and happiness through success!

I think the best way to embrace the unpredictable future is to face a plain and beautiful life with our peaceful original heart.

Even with difficulties, I wish everyone to go forward with sunshine in their heart and a smile on their face in 2022.

I sincerely wish all the friends, customers, employees, and family members caring about and supporting the development of RICHWELLLOGGING to be happy and healthy in 2022! May good luck be with you forever!

January 1, 2022