Hilong Holding's net profit climbed 14.2% to RMB345m

Check out its gameplan this year.

In a release, Hilong Holding Limited announced that its revenue increased by 23.5% to RMB2,264 million and net profit attributable to shareholders increased by 14.2% to RMB345 million.

Meanwhile, the Group also made significant breakthroughs in research and development of high-end products and services, overseas expansion and corporate governance.  

In 2013, the Group will continue to focus on R&D of products and services, focus on high-end markets, further expand international markets, and enhance the brand recognition.

For drill pipes and related products, the Group will further improve its market position in overseas markets including Canada and Russia, and continue to expand in South America, United States and Middle East markets.

Meanwhile, Hilong will make strong efforts in pioneering new technologies. With the increasing drilling activities in exploration and production of unconventional energies such as tight gas, coal seam gas and shale gas, and in extreme situations such as ultra-deep wells, arctic drilling and deep-water drilling, the demand of drill pipe will further shift toward higher-end products.

Hilong will build up much more extensive cooperation with customers in the R&D front, which will create more value for both parties.