Navigation Links
China Sky One Medical, Inc. Qualifies for Preferential Income Tax Rate

HARBIN, China, Jan. 6 /PRNewswire-Asia-FirstCall/ -- China Sky One Medical, Inc. ("China Sky One Medical" or "the Company") (Nasdaq: CSKI), a leading fully integrated pharmaceutical company producing over-the-counter drugs in the People's Republic of China ("PRC"), announced today that three of its wholly-owned subsidiaries, Harbin TDR Medical Science and Technology, Heilongjiang Tianlong Pharmaceutical, and Harbin First Bioengineering, have been granted the High-Technology Enterprise Certificate by the provincial government in Heilongjiang Province, which allows them to receive a preferential income tax rate of 15% versus the regular rate of 25%, effective January 1, 2009.

The High-Tech Enterprise Certificate is awarded to qualified enterprises by the Chinese government. Since mid-2008, provincial governments began to reassess the criteria for the High-Tech Enterprise Certificate, which include high Research and Development expenditure, and the manufacture of proprietary high technology products or services with at least 60% of total revenues for the enterprise generated through the sale of high technology products or services. With the award of the certification, China Sky One Medical will enjoy a long-term preferential income tax rate.

"We are pleased to benefit from a lower income tax rate, which will significantly have a positive effect on our financial performance," said Mr. Yan-Qing Liu, Chairman and CEO of China Sky One Medical. "We believe that the High-Tech Enterprise Certificate enhances our competitive position and validates our commitment to being an industry leader in the research and development of high technology medical products."

About China Sky One Medical, Inc.

China Sky One Medical, Inc., a Nevada corporation, is a holding company. The Company engages in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company (''TDR''), Harbin First Bio- Engineering Company Limited ("First"), Heilongjiang Tianlong Pharmaceutical, Inc. ("Tianlong") and Peng Lai Jin Chuang Pharmaceutical Company ("Jin Chuang") the Company manufactures and distributes over-the-counter pharmaceutical products, which make up its major revenue source. For more information, visit .

Safe Harbor Statement

Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.

    For more information, please contact:

    Company Contact:
     China Sky One Medical, Inc.
     Mr. Yu-Bo Hao, CFO
     Tel:   +86-451-53994069

    Investor Relations Contact:
     CCG Investor Relations
     Mr. Crocker Coulson, President
     Tel:   +1-646-213-1915

SOURCE China Sky One Medical, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Health Robotics Announces Partnership in the Peoples Republic of China With The Devon International Group
2. China Sky One Medical, Inc. Receives Scientific Achievement Award
3. China Medicine to Distribute Dental and Surgical Instruments
4. HUYA Bioscience Announces Agreement to Provide Schering-Plough With Drug Development Candidates From China
5. VIASPACE Plants Biofuel & Animal Feed Grass and Signs Land Lease in China
6. China Sky One Medical, Inc. Interviewed in The China Perspective
7. China Medicine Corporation Awarded GSP Certification
8. NSD Bio Group, LLC chosen by U.S.-China Economic & Security Review Commission for Report on Chinas High Tech Sectors
9. China Medical Technologies Completes the Development of EGFR Molecular Diagnostic Kits
10. China Sky One Medical, Inc. Obtains Production Rights for Nine New Drugs
11. China Biologic Products Reports Strong Third Quarter 2008 Results
Post Your Comments:
(Date:11/24/2015)... ... 24, 2015 , ... Copper is an essential micronutrient that ... proteins, copper is also toxic to cells. With a $1.3 million award from ... conduct a systematic study of copper in the bacteria Pseudomonas aeruginosa (P. aeruginosa), ...
(Date:11/24/2015)... ... November 24, 2015 , ... This fall, global software ... events in five states to develop and pitch their BIG ideas to improve health ... state are competing for votes to win the title of SAP's Teen Innovator, an ...
(Date:11/24/2015)... /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ:  AEZS) (TSX: ... 11,000 post-share consolidation (or 1,100,000 pre-share consolidation) Series ... Warrants") subject to the previously disclosed November 1, ... which will result in the issuance of 365,518 ... issuance of such shares, there will be approximately ...
(Date:11/24/2015)... LAVAL, QC , Nov. 24, 2015 /CNW Telbec/ - ... the "Corporation") announced today that Mr. Pierre Laurin , ... a corporate presentation at the upcoming Piper Jaffray 27 th ... York Palace Hotel, on December 1-2, 2015. ... be available for one-on-one meetings throughout the day. The presentation ...
Breaking Biology Technology:
(Date:11/11/2015)... MINNETONKA, Minn. , Nov. 11, 2015   MedNet ... the entire spectrum of clinical research, is pleased to announce ... Partnerships in Clinical Trials (PCT) event, to be held ... will be able to view live demonstrations of ... platform, and learn how iMedNet has been able ...
(Date:11/4/2015)... 4, 2015 --> ... published by Transparency Market Research "Home Security Solutions Market - ... 2015 - 2022", the global home security solutions market is expected ... 2022. The market is estimated to expand at a ... to 2022. Rising security needs among customers at homes, ...
(Date:10/29/2015)... , Oct. 29, 2015  Rubicon Genomics, Inc., ... U.S. distribution of its DNA library preparation products, ... Rubicon,s new ThruPLEX Plasma-seq kit. ThruPLEX Plasma-seq has ... preparation of NGS libraries for liquid biopsies--the analysis ... and prognostic applications in cancer and other conditions. ...
Breaking Biology News(10 mins):