Shandong Weima Pumps manufacturing Co., LTD. Social responsibility report

1、 Corporate governance system

Good corporate governance is the internal driving force for enterprises to achieve sustainable development. Since the establishment of the company in 1994, it has always organically combined corporate governance with production and operation. In strict accordance with the requirements of the Company Law and relevant national laws, regulations and rules, the modern enterprise system shall be established, the corporate governance structure shall be improved, and the operation of the company shall be standardized. A systematic and scientific regulatory system has been established based on the Articles of Association of the Company, with the rules of procedure of the shareholders' meeting, the rules of procedure of the board of directors, the rules of procedure of the Board of Supervisors, and the working rules of the general manager as the main framework. It has formed a power balance mechanism of decision-making, execution, operation management and effective supervision with the general meeting of shareholders, the board of directors, the Board of supervisors and the management as the main structure, which ensures the healthy operation of various business activities such as production and operation of the company and realizes the sustainable and healthy development of the company.

2、 Company Development  

The company has undertaken more than 30 national, provincial, and municipal scientific research projects; 5 technologies have reached international advanced levels, and 15 technologies have reached domestic leading levels; Has won more than 20 awards, including the Golden Bridge Award in the Chinese Science and Technology Market and the Shandong Provincial Equipment Manufacturing Industry Science and Technology Innovation Award; More than 20 enterprise standards have been formulated successively.

In 2022, the company focused on the theme of reform and innovation, deeply implemented the Scientific Outlook on Development, innovated marketing strategies, actively responded to market changes, carried out independent innovation, focused on financial budgeting and cost assessment, strengthened the company's ability to defend and control risks, and promoted the company's business performance to continue to maintain sustained and rapid growth. In 2022, the company achieved a revenue of RMB163101300 and a total profit of RMB32374800

3. Product management 

The company has always adhered to the quality policy of " Ensure survival by quality, establish brand by quality, seek efficiency by quality, promote development by quality". Regard product quality as the life of the enterprise, strictly control product quality, establish a long-term mechanism and comprehensive quality management system for product quality management, strengthen quality control and assurance from various aspects such as raw material control, technical support, production process control, and sales control, and provide customers with reliable products. The company has been successively rated as a national high-tech enterprise, Specialized and innovative small and Medium-sized enterprises, National manufacturing single item champion demonstration enterprise, Pioneer of national workers commending enterprises , Gazelle enterprise in Shandong province , Manufacturing single item champion demonstration enterprise in Shandong province , and a leading enterprise in high-end equipment manufacturing in Shandong Province. The product has been rated as the single champion product in the manufacturing industry and Famous brands in Shandong. 

In recent years, the company has continuously increased its research and development investment. In the past two years, the proportion of technology research and development investment in sales revenue has reached an average of 9.85% (9.16% in 2020 and 10.54% in 2021). It has a 3000 square meter pilot center and a 2000 square meter research and development center, ensuring the smooth implementation of various scientific research projects. It has established long-term cooperative relationships with China Petroleum Exploration and Development Research Institute, China University of Petroleum (East China, Beijing), Shandong University and other institutions. Through technical cooperation in different forms, it has strong research and development capabilities. The company now has 7 technology platforms: China Oil and Gas Lifting Equipment Technology Center, Shandong Provincial Enterprise Technology Center, Shandong Provincial Engineering Technology Research Center, Shandong Provincial Pole less Engineering Laboratory, Shandong Provincial One Enterprise One Technology R&D Center, Shandong Provincial Industrial Design Center, and Shandong Weima Oil and Gas Lifting Special Motor Research Center established in cooperation with Shandong University, Collaborate with China University of Petroleum (East China) to establish a research and development center for rodless oil extraction, and with China University of Petroleum (Beijing) to establish an intelligent petroleum equipment research and development center.

4、 Talent cultivation

The company has formulated a series of preferential policies, implemented measures to recruit talents and introduce talents, and provided them with solutions for their spouse's work, housing, etc., making them feel that the company's work is sincere, happy, and satisfactory. Through this measure, the company has introduced multiple engineering and technical personnel with college degrees or above and intermediate to senior technical titles from all over the country in recent years, providing talent guarantee for the technological innovation and development of the enterprise.

The company has organized and implemented over 1000 on-the-job training sessions and encouraged employees to take the path of self-study and success. Currently, multiple employees have obtained graduation certificates from universities and vocational schools, and have boldly utilized talents. In recent years, more than 10 personnel have taken up mid level management positions and more than 20 have taken up technical management positions. The implementation of these tasks has added vitality to the development of the company.

Employees are the greatest wealth of a company, and they are living a very difficult life under current social conditions. The company strictly manages employees from the perspective of caring for and protecting their fundamental interests. At the same time, it attaches great importance to caring for their lives and thoughts in daily work. Every Spring Festival, the company's leadership provides condolences to all employees, pays special visits to employees in need, and provides home visits and condolence to parents of employees over 70 years old.

      5. Environmental protection

      The company regards environmental protection as an important part of its sustainable development strategy, pays attention to fulfilling its responsibilities of environmental protection, and actively practices environmentally friendly and resource-saving development. 

  The environmental protection management into the enterprise management system, in-depth product production in all aspects. First of all, the company has strengthened publicity in various departments to improve the environmental awareness of all employees. Secondly, the implementation of environmental management indicators in every link of the product production process, the establishment of a target responsibility system from the senior level of the enterprise, the middle level to the grass-roots level of the team, the formation of a management network, timely notification of the discharge of various departments, to achieve responsibility in place, rewards and punishments, and truly the environmental protection and environmental concepts deep into each employee.

       Using modern information technology means, the implementation of paperless office, to promote the construction of a thrifty society, the company actively introduces financial computerization, ERP management, Intranet and other modern information technology means, and constantly improve the OA office system, Ding Talk office system, to achieve paperless office, not only save paper consumption, communication costs and mailing costs, It also reduces the occupation of social communication lines and postal resources by telephone, fax and mail contact methods, and actively promotes the construction of a conservation-oriented society.

  Encourage technical innovation of employees, eliminate backward production processes, and build environmentally friendly enterprises. In recent years, all the company closely around the theme of "energy saving, cost reduction,  increased production and efficiency" to collect reasonable suggestions, fully improve the comprehensive utilization rate of energy and machinery materials, including equipment, pipeline lines, waste equipment and facilities, machinery and materials, waste energy and other reasonable suggestions to reduce water and electrical energy consumption and resource recycling, Put forward the optimization and improvement of the existing production process in order to achieve energy saving, emission reduction, production increase and efficiency.

Shandong Weima Pumps manufacturing Co., LTD.

April 1, 2023