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The High-Tech Enterprise Certificate is awarded to qualified enterprisesby the Chinese government. Since mid-2008, provincial governments began toreassess the criteria for the High-Tech Enterprise Certificate, which includehigh Research and Development expenditure, and the manufacture of proprietaryhigh technology products or services with at least 60% of total revenues forthe enterprise generated through the sale of high technology products orservices. With the award of the certification, China Sky One Medical willenjoy a long-term preferential income tax rate.
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"We are pleased to benefit from a lower income tax rate, which willsignificantly have a positive effect on our financial performance," said Mr.Yan-Qing Liu, Chairman and CEO of China Sky One Medical. "We believe that theHigh-Tech Enterprise Certificate enhances our competitive position andvalidates our commitment to being an industry leader in the research anddevelopment of high technology medical products."
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company.The Company engages in the manufacturing, marketing and distribution ofpharmaceutical, medicinal and diagnostic products. Through its wholly-ownedsubsidiaries, Harbin Tian Di Ren Medical Science and Technology Company(''TDR''), Harbin First Bio- Engineering Company Limited ("First"),Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai JinChuang Pharmaceutical Company ("Jin Chuang") the Company manufactures anddistributes over-the-counter pharmaceutical products, which make up its majorrevenue source. For more information, visit http://www.skyonemedical.com .
Safe Harbor Statement
Certain of the statements made in the press release constituteforward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995. These statements can be identified by the useof forward- looking terminology such as "believe," "expect," "may," "will,""should," "project," "plan," "seek," "intend," or "anticipate" or the negativethereof or comparable terminology. Such statements typically involve risks anduncertainties and may include financial projections or information regardingour future plans, objectives or performance. Actual results could differmaterially from the expectations reflected in such forward-looking statementsas a result of a variety of factors, including the risks associated with theeffect of changing economic conditions in The People's Republic of China,variations in cash flow, reliance on collaborative retail partners and on newproduct development, variations in new product development, risks associatedwith rapid technological change, and the potential of introduced or undetectedflaws and defects in products, and other risk factors detailed in reportsfiled with the Securities and Exchange Commission from time to time.For more information, please contact: Company Contact: China Sky One Medical, Inc. Mr. Yu-Bo Hao, CFO Tel: +86-451-53994069 Email: [email protected] Investor Relations Contact: CCG Investor Relations Mr. Crocker Coulson, President Tel: +1-646-213-1915 Email: [email protected] Web: http://www.ccgirasia.com
SOURCE China Sky One Medical, Inc.
