China Biologic Products Receives High-Technology Enterprise Certification to Qualify for Preferential Income Tax Rate
Posted on: Wednesday, 11 February 2009, 07:00 CST
TAIAN CITY,
The Certification is only awarded to qualified enterprises that meet the
provincial government's strict requirements and standards. The Certification
allows the Company to receive a preferential income tax rate of 15% versus the
regular rate of 25%, for a period of 3 years starting from as of
"We are pleased that we will benefit from a lower income tax rate, which
we expect to have a positive effect on our financial performance in the next
few years as we reinvest the savings in our business," said Mr.
About China Biologic Products, Inc.
Through its indirect majority-owned subsidiary Shandong Taibang Biological
Products Co. Ltd. (''Shandong Taibang''), China Biologic Products, Inc., a
Safe Harbor Statement
This release may contain certain ''forward-looking statements" relating to the business of China Biologic Products, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are ''forward-looking statements," including statements regarding: the significance of the new preferential income tax rate and its effect on the Company's ability to increase its financial performance and become more competitive, and on the Company's overall production capacity, revenues and market share; the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as ''believes,'' ''expects'' or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Company Contact: Mr. Y. Tristan Kuo CFO China Biologic Products, Inc. Tel: +86-538-6202206 Email: IR@chinabiologic.com Web: http://www.chinabiologic.com Investor Relations Contact: CCG Investor Relations Mr. Crocker Coulson, President Tel: +1-646-213-1915 (NY office) Email: crocker.coulson@ccgir.com Mr. Gary Chin Tel: +1-646-213-1909 Web: http://www.ccgirasia.comSOURCE China Biologic Products, Inc.
Source: PR Newswire
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