- CEO
- Xi Chen
- Full Time Employees
- 131
- Sector
- Energy minerals
- Industry
- Integrated oil
- Address
- Zhongzhou Building Shenzhen GD China 518000
- IPO Date
- Oct 25, 2011
- Business
- Zhejiang Renzhi Co., Ltd. Zhejiang Renzhi Co., Ltd. (002629.SZ) provides professional technical services and solutions for oil and gas drilling, engineering, and environmental management primarily in China. The company offers drilling fluid technical services, including deployment, circulation, and recycling; anti-corrosion engineering; underground operation technical services; oilfield environmental protection encompassing water pollution control, oil and gas wastewater treatment, sludge pretreatment, tank cleaning, mud non-landing, and resource utilization; pipe inspection and maintenance; photovoltaic and new energy power engineering; drilling and completion technical services; downhole tools and production stimulation; as well as development, production, sale, and import/export trade of oilfield chemical additives, petrochemicals, modified polymer materials, packaging materials, and petroleum equipment. It operates through segments including Benevolent Wisdom, Petrochemicals, New Materials, Ren Xun, and Others, with additional involvement in mechanical and electrical equipment, wires and cables, rubber and plastic products, electric power and municipal engineering projects, heat production, cooling services, and research into emerging energy technologies; the company serves oilfield operators and related industries across China. Founded in 2006 and headquartered in Shenzhen, Zhejiang Renzhi Co., Ltd. functions as a subsidiary of Pingda New Material Co., Ltd., with sales concentrated domestically. In recent developments, Pingda New Material Co., Ltd. cancelled a planned acquisition of an additional minority stake in June 2024, while the new energy power engineering segment saw revenue surge to CNY 194 million in 2024 from CNY 18.16 million in 2023, reflecting strategic expansion; overall revenue grew 53.4% to CNY 318.3 million in 2024 amid improved profitability.