Navigation Links
Sinovac Biotech Co. Ltd., Sinovac's Beijing Subsidiary, Obtains High-Tech Enterprise Status
Date:3/9/2009

BEIJING, March 9 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (NYSE Alternext US: SVA), a leading developer and provider of vaccines in China, announced today that the Chinese government, led by the Ministry of Science and Technology of China, the Ministry of Finance and the State Administration of Taxation, jointly granted the Company's operating subsidiary, Sinovac Biotech Co. Ltd.(Sinovac Beijing), high-tech enterprise status. According to the Enterprise Income Tax Law of the People's Republic of China, Sinovac Beijing has received recognition to benefit from a 15 percent tax rate, down from a 25 percent tax rate. Sinovac Beijing will benefit from the lower tax rate for a three-year validation period, covering 2008, 2009 and 2010. Currently, all benefits of Sinovac are sourced from Sinovac Beijing

According to the China Banking Regulatory Commission Guiding Opinions Number 94, companies with high-tech status are eligible for numerous potential benefits including, preferential treatment in obtaining other support from the government, competitive commercial bank loans and subsidized interest.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac Biotech Ltd., commented, "Receipt of high-tech enterprise status reflects Sinovac's continued strength and progress in fundamental areas such as the research and development and vaccine commercialization. As a high-tech enterprise, Sinovac is poised to benefit from substantially increased government support that provides us with financial flexibility as we maintain solid growth. We are very pleased to be granted this esteemed status and are well positioned to continue to build shareholder value."

About High-Tech Enterprise Status

High-tech enterprise status is awarded by the Chinese government to companies that consistently invest in new product development, and generate substantial revenues from their proprietary patented or innovative products. In this way, the Chinese government encourages domestic and foreign investment in advanced technologies, and has created a series of preferential tax policies to stimulate and promote the production of high-tech products, the provision of high-tech related services and technology transfers into and within China. The Ministry of Science and Technology of China, the Ministry of Finance and the State Administration of Taxation jointly promulgated the Measures For the Recognition and Administration of New and High-Tech Enterprises, which clearly specify the requirements for the recognition and administration of high-tech enterprises.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's commercialized vaccines include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), Anflu(R) (influenza) and Panflu(TM) (H5N1). Sinovac is currently developing a Universal Pandemic Influenza vaccine and Japanese encephalitis vaccine. Its wholly-owned subsidiary, Tangshan Yian is currently conducting field trials for the first domestically-developed inactivated animal rabies vaccines. Additional information about Sinovac is available on its website, http://www.sinovac.com . To be added to our distribution list, please email: info@sinovac.com.

    For more information, please contact:

    Helen G. Yang
     Sinovac Biotech Ltd.
     Tel:   +86-10-8289-0088 x9871
     Fax:   +86-10-6296-6910
     Email: info@sinovac.com

    Investors/Media:
     Stephanie Carrington/Janine McCargo
     The Ruth Group
     Tel:   +1-646-536-7017/7033
     Email: scarrington@theruthgroup.com
            jmccargo@theruthgroup.com

'/>"/>
SOURCE Sinovac Biotech Ltd.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Sinovac Receives GMP Certification for its New Filling and Packaging Production Facility
2. Sinovac Enters Veterinary Vaccine Market with Inactivated Rabies Vaccine
3. Sinovac Releases Statement on Healive Vaccine Suspension
4. Sinovac Reports Third Quarter 2008 Unaudited Financial Results
5. Sinovac Named to Deloitte Technology Fast 50 China
6. Sinovac to Participate in Two Upcoming Investor Conferences
7. Sinovacs Credit Rating Upgraded to AAZ, Second Highest Rating
8. Sinovac Biotech Holds 2007 Annual General Meeting
9. Sinovac to Present at the 2008 UBS Global Life Sciences Conference
10. Sinovac Initiates Clinical Trials for Inactivated Hepatitis A Vaccine in Ukraine
11. Sinovac Launches Seasonal Influenza Vaccine Anflu(R) for 2008-2009 Flu Season
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/29/2017)... Research and Markets has announced the addition of the ... to 2025" report to their offering. ... The Global Agricultural Chelates Market is ... next decade to reach approximately $825.4 million by 2025. ... all the given segments on global as well as regional levels ...
(Date:3/29/2017)... 29, 2017 Research and Markets has ... and Global Markets" report to their offering. ... The study ... sequencing, biochips, RNA interference, synthetic biology tools and genome editing ... These technologies and products are analyzed to determine ...
(Date:3/28/2017)... (PRWEB) , ... March 28, 2017 , ... Mass spectrometry ... The utilization of this technology is driven by its potential to perform challenging analyses ... are also some challenges that must be addressed for it to be routinely used ...
(Date:3/28/2017)... MA. (PRWEB) , ... March 28, 2017 , ... ... long time members of the Modular Building Institute (MBI), an international modular trade ... in the permanent modular category for the Pagliuca Life Lab at Harvard University. ...
Breaking Biology Technology:
(Date:3/22/2017)... 21, 2017   Neurotechnology , a provider ... today announced the release of the SentiVeillance ... improved facial recognition using up to 10 surveillance, ... computer. The new version uses deep neural-network-based facial ... it utilizes a Graphing Processing Unit (GPU) for ...
(Date:3/22/2017)... March 21, 2017 Vigilant Solutions , ... law enforcement agencies, announced today the appointment of retired ... of public safety business development. Mr. Sheridan ... experience, including a focus on the aviation transportation sector, ... recent position, Mr. Sheridan served as the Aviation Liaison ...
(Date:3/20/2017)... 2017 PMD Healthcare announces the release of ... Management System (WMS), a remote, real-time lung health monitoring ... Healthcare is a Medical Device, Digital Health, and Chronic ... creating innovative solutions that empower people to improve their ... PMD developed the first ever personal spirometer, Spiro PD, ...
Breaking Biology News(10 mins):