Navigation Links
China Sky One Medical, Inc. Receives Tax Refund

HARBIN, China, Oct. 21 /Xinhua-PRNewswire-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 the Company's wholly-owned subsidiary, Harbin First Bio-Engineering Co. Ltd. ("Harbin First Bio-Engineering"), received $800,000 in tax savings from the Heilongjiang Binxi Economic Zone.

China Sky One Medical entered into an agreement with the Heilongjiang Binxi Economic Zone in 2005, when the Company decided to invest in Harbin First Bio-Engineering. Under the agreement, the Heilongjiang Binxi Economic Zone agreed to provide fiscal support by refunding local income taxes for Harbin First Bio-Engineering until 2010. As a result, Harbin First Bio-Engineering received a 2007 local income tax refund of $800,000 in October, 2008.

"We are pleased to obtain local government fiscal support from the Heilongiang Binxi Economic Zone," said Mr. Yan-qing Liu, Chairman, CEO and President of China Sky One Medical. "We will invest this refund back into our business in order to further improve operations and carry out our growth strategy of strengthening our distribution channel and developing exciting new drugs."

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, Harbin First Bio-Engineering Company Limited, and Heilongjiang Tianlong Pharmaceutical, Inc., 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, Board Secretary

Tel: +86-451-5399-4069


Investor Relations Contact:

CCG Investor Relations

Mr. Crocerk Coulson, President

Tel: +1-646-213-1915



SOURCE China Sky One Medical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Mindray Medical to Exhibit New Products at 60th China International Medical Equipment Fair
2. iCRco Opens Regional Branch Office In Beijing, China
3. China Yingxia International, Inc. to Promote Benefits of Its Soy Milk Products Over Scandal-Stricken Cows Milk in China
4. China-Biotics, Inc. Sees No Impact on Its Business From Dairy Products Safety Concerns
5. China Medical Technologies Announces Concurrent Offerings of $150 Million of Convertible Senior Notes and Purchased ADSs Pursuant to ADS Issuance and Repurchase Agreements
6. China Bio-Immunity Corporation Completes Share Exchange and Reverse Merger
7. China Healthcare Acquisition Corp Signs Definitive Agreement to Acquire Europe Asia Huadu Environment Holding Pte, Ltd.
8. UNC School of Social Work helps China tackle growing pains
9. Respiratory illnesses and dog bites a concern for travelers to China for 2008 Olympics
10. China Shenghuo Pharmaceutical Retains Grayling Global As Investor Relations Counsel
11. China Medical Technologies to Announce Financial Results for the First Quarter Ended June 30, 2008 on August 4, 2008
Post Your Comments:
(Date:6/27/2016)... ... June 27, 2016 , ... ... technology to revolutionize the emergency ambulance transport experience for the millions of people ... how Uber has disrupted the taxi industry through the use of technology. Now, ...
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, ... editors can give their videos a whole new perspective by using the title ... Pixel Film Studios. , ProSlice Levels contains over 30 Different presets to choose ...
(Date:6/25/2016)... ... June 25, 2016 , ... Experts ... applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the Hynes Convention ... health care topics including advance care planning, healthcare costs and patient and family ...
(Date:6/25/2016)... , ... June 25, 2016 , ... First Choice ... States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm ... Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... Conventional wisdom ... of success. In terms of the latter, setting the bar too high can result ... more than just slow progress toward their goal. , Research from ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 Any dentist who has ... of the current process. Many of them do not even ... technical difficulties and high laboratory costs involved. And those who ... it at such a high cost that the majority of ... Dr. Parsa Zadeh , founder of Dental Evolutions ...
(Date:6/23/2016)... Research and Markets has announced the ... 2016 - Forecast to 2022" report to their offering. ... up to date financial data derived from varied research sources ... with potential impact on the market during the next five ... comprises of sub markets, regional and country level analysis. The ...
(Date:6/23/2016)... June 23, 2016 , , ... July 7, 2016 , , , , LOCATION: , , ... , , , EXPERT PANELISTS:  , , , Frost & ... Analyst, Christi Bird; Senior Industry Analyst, Divyaa Ravishankar and Unmesh Lal, ... The global pharmaceutical industry is witnessing an exceptional era. Several new ...
Breaking Medicine Technology: