After buyout 50 percent shares of Yangzhou Chengde Steel Pipe Co.,Ltd., PCC changed Yangzhou Chengde Steel Pipe Co.,Ltd. into Sino-foreign joint venture, for the solid foundation of listed overseas to the company finally. The management team of joint venture would be responsible for day-to-day operation, which leaded by Mr. Zhang Huaide. 
    After original shareholders received the transfer-funds, some are invested into the third project of Jiangsu Chengde Steel pipe Co.,Ltd. in Jiangdu Development Zone, for expansion of small-caliber casing pipe & oil production scale and technology research.