BEIJING, Feb. 23, 2012 /PRNewswire-Asia-FirstCall/ -- Dehaier Medical Systems Ltd. (NASDAQ: DHRM) ("Dehaier" or the "Company"), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products, today announced that for the year ended December 31, 2011, it received subsidies of RMB177,200 from the Chinese government, led by the Ministry of Science and Technology of China, the Ministry of Finance and the State Administration of Taxation, as a result of the Company's status as a High Technology Enterprise.
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 subsidies for interest on bank loans.
The Company, which is based in Zhongguancun Science Park Beijing Changping District, has benefitted from favorable tax treatment and subsidies. As a certified high technology enterprise, Dehaier is subject to an enterprise income tax rate of 15% tax rate (compared to China's national 25% tax rate) as long as it continues to be certified.
Mr. Ping Chen, Chairman and Chief Executive Officer of Dehaier Medical stated, "As a smaller high technology company, we are pleased with the strong support we have received from the government. We continue to invest the free cash flow from our business into further scientific research and development, and we are committed to constantly improve our products, and in turn, the lives of our patients."
About Dehaier Medical Systems Ltd.
Dehaier is an emerging leader in the development, assembly, marketing and sale of medical products, including respiratory and oxygen homecare medical products. The company develops and assembles its ow
|SOURCE Dehaier Medical Systems Ltd.|
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