Navigation Links
China-Biotics, Inc. Receives High-Technology Enterprise Certification to Qualify for Preferential Income Tax Rate
Date:8/10/2009

SHANGHAI, Aug. 10 /PRNewswire-Asia-FirstCall/ -- China-Biotics, Inc. (Nasdaq: CHBT) ("China-Biotics," "the Company"), a leading Chinese firm specializing in the manufacture, research, development, marketing and distribution of probiotics products, today announced that the Company's wholly-owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., has been awarded the High-Technology Enterprise Certificate (the "Certificate") by the municipal government in Shanghai. It is only awarded to qualified enterprises that meet the municipal government's strict requirements and standards.

The Certificate allows the Company to receive a preferential income tax rate of 15% on substantially all of its operating income, versus the statutory tax rate of 25%. The 15% rate will be in effect for the three-year period that began on Jan. 1, 2009.

"We are pleased to have earned the benefit of this 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 into our two-pronged growth strategy," said Mr. Jinan Song, Chairman and Chief Executive Officer of China- Biotics. "This tax savings will serve to further our position as the leading domestic supplier of probiotics in China."

About China-Biotics, Inc.

China-Biotics, Inc. ("China-Biotics," "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements. Through its wholly owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company has operations in Shanghai. Its proprietary product portfolio contains live microbial nutritional supplements under the "Shining" brand. Currently, the products are sold OTC through large distributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiang. China-Biotics plans to launch 300 Shining brand retail outlets in major cities in China. Currently, China-Biotics is strategically expanding its production capacity of probiotics to meet growing demand in the bulk additive market. For more information, please visit http://www.chn-biotics.com .

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to obtain the patents applied for, market existing and new products and changes from anticipated levels of sales, future national or regional economic and competitive conditions, market acceptance of its retail store concept, changes in relationships with customers, dependence on its flagship product profits and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    For more information, please contact:

     Lewis Fan, CFO
     China-Biotics, Inc.
     Email: lewisfan@chn-biotics.com
     Web:  http://www.chn-biotics.com

     CCG Investor Relations
     Crocker Coulson, President
     Phone: +1-646-213-1915 (New York)
     Email: crocker.coulson@ccgir.com
     Web:  http://www.ccgirasia.com

'/>"/>
SOURCE China-Biotics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. China-Biotics, Inc. Signs Intention Agreement to Supply Probiotics to Bright Dairy & Food Co., Ltd.
2. China-Biotics, Inc. Launches Shining Probiotics Protein Powder
3. China-Biotics, Inc. Receives Approval to Begin Construction on Large-Scale Manufacturing Facility
4. China-Biotics, Inc. Announces Conference Call to Discuss First Quarter FY 2008 Results
5. China-Biotics, Inc. Launches English / Chinese Corporate and Investor Relations Web Site
6. China-Biotics, Inc. Announces Rescheduling of Conference Call to Discuss Third Quarter 2008 Results
7. China-Biotics, Inc. Reports Third Quarter 2008 Financial Results
8. China-Biotics, Inc. Completes Foundation for Its New Plant
9. China-Biotics, Inc. to Present at Two Upcoming Investor Conferences
10. China-Biotics, Inc. to Supply Probiotics to Pharmaceutical Company
11. China-Biotics, Inc. Announces Conference Call to Discuss Fourth Quarter and Full Year 2008 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2016)... , April 28, 2016 ... company reports the Company,s CEO  was featured in ... Accelerators Enter When VCs Fear To Tread: ... Leader magazine is an essential business ... everything from emerging biotechs to Big Pharmas. Their ...
(Date:4/28/2016)... NY (PRWEB) , ... April 28, 2016 , ... ... has made significant investments in recruiting top industry experts, and expanding its LATAM ... which provides industry-leading tools for clients to manage their clinical trial projects. , ...
(Date:4/27/2016)... (PRWEB) , ... April 27, 2016 , ... ... of cannabis testing technology at the Spring 2016 Marijuana Business Conference and Expo. ... pesticides, residual solvents, heavy metals, and more. Expo attendees can stop by booth ...
(Date:4/27/2016)... VANCOUVER, British Columbia , April 27, 2016 ... "Gesellschaft" oder "NanoStruck") (CSE: NSK) (OTCPink: NSKQB) ( ... sie im Anschluss an ihre Pressemitteilung vom 13. ... Inc. erhalten hat, ihre Finanzen um zusätzliche 200.000.000 ... auf 4.000.000 Kanadische Dollar zu bringen. Davon wurden ...
Breaking Biology Technology:
(Date:3/22/2016)... Ontario , PROVO and ... Newborn Screening Ontario (NSO), which operates the ... for molecular testing, and Tute Genomics and UNIConnect, ... management technology respectively, today announced the launch of a ... next-generation sequencing (NGS) testing panel. NSO ...
(Date:3/15/2016)... -- Yissum Research Development Company of the Hebrew ... Hebrew University, announced today the formation of Neteera ... human biological indicators. Neteera Technologies has completed its first ... ... emissions from sweat ducts, enables reliable and speedy biometric ...
(Date:3/10/2016)... March 10, 2016 --> ... research report "Identity and Access Management Market by Component ... and Governance), by Organization Size, by Deployment, by Vertical, ... by MarketsandMarkets, The market is estimated to grow from ... by 2020, at a Compound Annual Growth Rate (CAGR) ...
Breaking Biology News(10 mins):