On April 1, 2014, the IRS (Internal Revenue Service) and local taxation bureau of Shandong province jointly announced 2013 Shandong Top 100 Taxpayer List, in which Jereh, as the only private-listed enterprise for oil and gas equipment manufacturing, won a place again with tax amount of $92.6 million, together with those arge state-owned companies in petroleum and petrochemical, finance and tobacco industry.
It is reported that major selected enterprises are state-owned from manufacturing, mining, finance, transportation, real estate and telecommunication industry with the minimum amount of tax increasing to $77.4 million. So private enterprises with strong competitiveness such as Jereh Group are particularly noticeable.
As a world leading O&G equipment manufacturer and service provider, Jereh group achieved leap-frog development. The sales amount for eight consecutive years achieves an increase of 50% and in the last three years 63% CAGR of sales revenue. In 2013 the total tax amount of Jereh was up to $92.6 million, compared with $50.57 million in 2012. For the goal of sales revenue exceeding $1.6 billion, Jereh will invest more on manufacturing and technology innovation to promote the energy development in China, as well as sustainable development of the world.