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As a result of this new status, which will be reevaluated by Chinesegovernment authorities every three years, Winner Shenzhen will enjoy a 15%corporate income tax rate for calendar years 2009, 2010 and 2011. Currently,Winner Shenzhen contributes to approximately 80% of the Company's consolidatednet profit. Before receiving this certificate, the Company was subject to thenew PRC Enterprise Income Tax Law, effective on January 1, 2008, which givesexisting foreign investment enterprises a five-year grandfather period, withan income tax rate of 18% in 2008 for enterprises located in Shenzhen, whichwill increase to 20%, 22%, and 24% in years 2009, 2010, and 2011 respectively,reaching 25% in 2012 and thereafter.
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Mr. Jianquan Li, President and Chief Executive Officer of Winner Medicalcommented, "The recognition of the High and New Technology EnterpriseCertificate reflects our continued strength and progress in fundamental areassuch as research and development and product commercialization. As a hightechnology enterprise, Winner Medical benefits substantially from this statusin reducing our expenses and increasing our profits. We are very pleased to begranted this esteemed certificate and are well positioned to continue to buildshareholder value."
About Winner Medical
Winner Medical is a leading manufacturer in the medical dressing industry(medical and wound care products) in China. Headquartered in Shenzhen, theCompany has seven wholly owned operating subsidiaries, four joint-ventures andover 5,000 employees. The Company engages in the manufacture, sale, research,and development of medical care products, wound care products, home careproducts and PurCotton products, a nonwoven fabric made from 100% naturalcotton. The products are sold worldwide, with Europe, the United States andJapan serving as the top three markets. The Company currently holds 50 patentsand patent applications for various products and manufacturing processes andis one of the few Chinese companies licensed by the U.S. Food and DrugAdministration (FDA) to ship finished, sterilized products directly to theUnited States market. To learn more about Winner Medical, visit WinnerMedical's web site http://www.winnermedical.com .
Forward-Looking Statements
This press release contains certain statements that may include"forward-looking statements" within the meaning of Section 27A of theSecurities Act of 1933, as amended, and Section 21E of the Securities ExchangeAct of 1934, as amended. All statements, other than statements of historicalfact included herein are "forward-looking statements" including statementsregarding Winner Medical and its subsidiary companies' business strategy,plans and objective and statements of non-historical information. Theseforward looking statements are often identified by the use of forward-lookingterminology such as "believes," "expects" or similar expressions, involveknown and unknown risks and uncertainties. Although Winner Medical believesthat the expectations reflected in these forward-looking statements arereasonable, they do involve assumptions, risks and uncertainties, and theseexpectations may prove to be incorrect. You should not place undue reliance onthese forward-looking statements, which speak only as of the date of thispress release. Winner Medical's actual results could differ materially fromthose anticipated in these forward-looking statements as a result of a varietyof factors, including those discussed in Winner Medical's periodic reportsthat are filed with and available from the Securities and Exchange Commission.All forward-looking statements attributable to Winner Medical or personsacting on its behalf are expressly qualified in their entirety by thesefactors. Other than as required under the securities laws, Winner Medical doesnot assume a duty to update these forward-looking statements.Investor Relations Contacts: Peng Zhai Assistant Manager, Investor Relations Winner Medical Group Inc. Tel: +86-755-2806-6858 Email: [email protected]
SOURCE Winner Medical Group Inc.
