Aoxing Pharmaceutical Company, Inc. Granted Certification of High and New-Technology Enterprise
Aoxing Pharmaceutical Company, Inc. (NYSE MKT: AXN) today announced that the Company has been granted certification as a High and New Technology Enterprise ("HNTE"), jointly issued by the Hebei Department of Science and Technology, Hebei Department of Finance and Hebei State Tax Bureau. Under China's HNTE Program, eligible enterprises enjoy a 15% preferential corporate income tax rate instead of the standard 25% rate. HNTE status is renewable three years after certificate issuance. Three years after certificate renewal, the recipient may reapply for continued certification.
Zhenjiang Yue, CEO of Aoxing Pharma, commented, "We are pleased to receive the certification of High and New Technology Enterprise. This is a testament to our continued dedication to research and technology development, and an acknowledgment of our portfolio of patents and intellectual property. The preferential tax treatment will allow the Company to further amplify profitability as we launch new products."
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