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Recently, Wang Pingwei, Chairman and President of Sinomine Resource Group Co., Ltd. (hereinafter referred to as “Sinomine Resource”), visited Sinomine Specialty Fluids Limited (hereinafter referred to as “Specialty Fluids”) in the UK to inspect and review its operations. During the visit, Wang oversaw work related to business development, capacity expansion, sales and marketing, and digitalization and compliance, while outlining key priorities and making arrangements for the next stage of development.
During the inspection, Chairman Wang Pingwei and his delegation visited production workshops, warehousing facilities, and office areas to gain a detailed understanding of the operating status of Specialty Fluids' existing production lines, process and technological capabilities, capacity utilization, and delivery of fluid products. He also extended his greetings to frontline production, sales, and operations and maintenance teams, listened to their challenges and bottlenecks in advancing business, and recognized the team's efforts in developing the European market and ensuring high-quality services for regional customers.
At a special briefing, Hu Yaoqian, General Manager of Specialty Fluids, provided a detailed report on the implementation plan for the plant upgrade and transformation, progress toward annual sales targets, raw material supply requirements, and preparations for the rollout of digital systems. After hearing the report, Chairman Wang Pingwei emphasized that demand in the international oil and gas fluids market continues to grow while competition within the industry is becoming increasingly intense. Specialty Fluids should remain focused on its annual business targets, proactively seize market opportunities, deepen its presence in key regions including Norway, South Asia, and North Africa, optimize its customer service system, and improve order fulfillment efficiency, thereby continuously increasing the market share and brand influence of the Group's high-end drilling fluid products.
Regarding digital transformation, Chairman Wang Pingwei pointed out that the SAP system is a key component of the Group's overseas digitalization strategy and a core tool for achieving integrated management and control of finance, production, sales, and supply chains. He called on the Specialty Fluids team to work backward from the target implementation date, refine milestones, and efficiently advance system testing, data migration, and personnel training to ensure the system goes live as scheduled. Digitalization, he said, should be leveraged to enhance operational efficiency and management capabilities.
During a meeting with the management team, Chairman Wang Pingwei outlined Sinomine Resource's global strategy. He noted that the high-end specialty fluids business is an important strategic component of the Group's rare-metal business portfolio. The Group will continue to increase regional resource investment, optimize capacity deployment, and strengthen market support. By leveraging plant upgrades, supply chain optimization, digital transformation, and improvements to its compliance system, Sinomine Resource aims to comprehensively enhance the scale and revenue-generating capabilities of its specialty fluids business.
Wang Pingwei called on Specialty Fluids to align closely with the Group's overall strategy and focus on four core priorities: sales growth, capacity upgrades, compliant operations, and digitalization. He urged the company to make every effort to achieve its annual sales targets, further consolidate Sinomine Resource's competitive position in the global high-end oilfield drilling fluids market, and make a greater contribution to the Group's high-quality global development.
During his stay in the UK, Chairman Wang Pingwei also met with partners from PwC UK. The two sides held in-depth discussions on overseas tax compliance, cross-border tax and financial risk management, and the development of an international tax and financial management system. Based on Specialty Fluids' operational needs and Sinomine Resource's global strategy, the two sides established a tax optimization approach focused on compliance, efficiency, and long-term sustainability. The initiative is expected to further standardize the financial and tax management systems of the Group's overseas companies while effectively reducing tax costs and compliance risks associated with cross-border operations.
