Never Ever Give Up-PKU PIONEER's 2020 Revenue Broke $101 Million

On April 23, 2021, more than 260 members of PKU PIONEER held the 2020 work summary meeting in Beijing. It is a long-awaited reunion after the ups and downs last year.

The general manager Tang Wei made the annual work management report in the meeting and announced the 2020 sales exceed $101 million, which is another record high. This is the third consecutive year that PKU Pioneer's performance has breached the $92.6 million since 2018.

PKU PIONEER’s General Manager Tang Wei Delivering the Annual Work Management Report

At the beginning of this year, many industries nearly stopped operation and numerous projects were suspended. It was expected that the whole year would follow the trend and would come to a bleak end. However, in the second half of the year, the unfavorable situation was reversed and the economic recovery led to upswing demands in the iron & steel market. In succession, PKU Pioneer signed a large number of contracts for large-scale oxygen production projects and saw an explosion in our export business.

In the latter half year, PKU PIONEER undertook over 20 oxygen production projects, including the domestic largest 62500Nm3/h VPSA oxygen production project which helped the production capacity of LY Steel (Hunan Valin Lianyuan Iron & Steel Co. Ltd.) exceed 10 million tons. This is also the first super-large VPSA oxygen generation project that we undertook for the blast furnace oxygen-rich combustion in state-owned steel enterprises.

During this period of time, all projects, without exception, required short delivery time, smooth and fast construction. The engineering and technical department went through an unprecedented tough battle and did their utmost to ensure that many large projects were put into production in advance, finally creating a record for the shortest construction period of only 95 days for a single VPSA oxygen plant project. This indicator broke the limit of the conventional production period of VPSA oxygen equipment and is the result of close collaboration among customers, suppliers, construction teams and other parties.

It is widely understood in the PSA & VPSA industry that such a short construction period for oxygen production projects is practically difficult to replicate or even imagine. In the view of PKU Pioneer, a high sense of responsibility, efficient organizational ability and high-level construction capability are the things required for the reliable advancement, all of which are indispensable.

In 2020，PKU Pioneer has completed 82 projects in total and 33 of those have passed the acceptance. This figure is not surprising compared to that of previous years, the key is that most of the projects are concentrated in the second half of the year so that the workload nearly doubled. In an internal interview, despite only a few words，some technicians smiled with tears and gratitude when they looked back on all the hardships and difficulties experienced in this year's projects.

In Tang Wei's analysis, 70% of the $101 million revenue comes from our regular customers, some of whom have been cooperating with us for many years and have expanded the production and constructed the 4th and 5th-phase oxygen generating projects to continuously enhance the cost reduction and efficiency improvement. Some customers warmly recommend their brother companies to adopt PKU Pioneer’s VPSA oxygen generating process and helped them to sign the contracts with us after comparing the investment & returns and sharing related experience.

On a basis of nearly 300 customers served by PKU Pioneer, the main businesses of VPSA & PSA oxygen production and CO purification are expected to continue to be occupied by a high proportion of performance from the repeated customers in the next few years. And such a report card with "regular-customer characteristics" is the highest praise for PKU Pioneer's advanced process and high-quality engineering services.

In order to continuously improve the ability of implementing engineering business and offering systematic solutions, and to provide the customers with higher-quality project-based products and all-round quality services, PKU Pioneer established a subsidiary specifically responsible for engineering project implementation and proceeded to improve and upgrade the design and construction qualifications, taking a step forward to become an engineering company with core products and technology.

2020 was extra difficult when PKU Pioneer was like marching in a strong wind but finally managed to break out of the darkest moment. The continuous records of high performance come from the courage, tenacity and wisdom of PKU Pioneer. All the fruits are not easy to be borne.

As the world enters 2021, PKU Pioneer will continue to operate prudently and seize the opportunities presented in the new development pattern of mutual promotion between domestic-oriented economic circulation and international business. PKU Pioneer will continue to achieve better development and expansion by making progress while ensuring stability.