Reported about 1 year ago
In the recent shareholders' meeting of steel pipe giant Hocheng Chang, new board members, including the third generation representatives Lu Wei-Cheng and Sheng Lu-An from the Lu family, were elected, marking a significant generational transition. Hocheng Chang expressed optimism towards the market outlook for their main steel pipe product API oil and gas pipes, anticipating an increase in orders as oil prices rise and extraction willingness in the North American market improves. Despite a decrease in sales due to low oil prices and increased competition, Hocheng Chang expects a turnaround in the market by the first half of next year. The company reported a decrease in sales last year, with a positive outlook for future orders as oil prices stabilize and demand increases.
Source: YAHOO