SmartHeat Inc. Announces National High Tech Enterprise Status and 10% Reduction in Corporate Income Taxes for 3 Years
(OTC Bulletin Board: SMHT.OB), a market leader in
environmentally friendly energy savings industry, today announced that the
Company has been granted ‘National High Tech Enterprise’ status by the Chinese
government valid for 3 years. Through this national level high-tech
certification, SmartHeat’s technology and products are formally recognized as
market leaders in
this certification, SmartHeat automatically receives a 3-year, 10% corporate
income tax reduction to 15% annually beginning in 2008.
corporate income tax is a flat 25%.
Under the current National High Tech certification program, SmartHeat is
able to apply for renewal every 3 years. If approved, the Company will
continue to enjoy tax reductions among other benefits.
SmartHeat also believes it will benefit from various economic initiatives
in a favorable market environment in 2009. Specifically, the Chinese
government recently announced a
heavily focuses on infrastructure development. Under the plan approximately
by encouraging the broad adoption of energy savings equipment by both private
and government entities.
award reflects SmartHeat’s leadership position with significant technological
benefiting from the Chinese government’s economic stimulus plan. SmartHeat is
dedicated to reducing pollution through our advanced heat energy savings
About SmartHeat Inc.
SmartHeat Inc. is a US company with its primary operations in
SmartHeat is a market leader in
industry. SmartHeat manufactures plate heat exchangers and compact plate heat
exchanger units — the technology that helps to capture and recycle waste heat
thus reducing fossil fuel related costs and pollution. SmartHeat’s products
and technology have broad residential and industrial applications.
heat transfer market is currently estimated at approximately
double-digit annual growth according to China Heating Association.
Safe Harbor Statement
All statements in this press release that are not historical are
forward-looking statements made pursuant to the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995. There can be no
assurance that actual results will not differ from the company’s expectations.
SmartHeat’s actual results may differ from its projections. Further,
preliminary results are subject to normal year-end adjustments. You are
cautioned not to place undue reliance on any forward-looking statements in
this press release as they reflect SmartHeat’s current expectations with
respect to future events and are subject to risks and uncertainties that may
cause actual results to differ materially from those contemplated. Potential
risks and uncertainties include, but are not limited to, the risks described
in SmartHeat’s filings with the Securities and Exchange Commission.
Contact Information: James Wang CEO SmartHeat Inc. Tel: 011-86-13701368262 Email: info@SmartHeatinc.com
SOURCE SmartHeat Inc.