Company Granted Corporate Income Tax Credit

According to an approval from the Jingdezhen National Tax Bureau received on 6 Oct 2008, the company will be granted a corporate tax rebate, pursuant to relevant regulations. The preferential treatment stems from the company's use of China-made equipment for its thermal power plants which had undergone technical modification. The China-made equipment was bought in 2007.

Pursuant to the preferential policy on the corporate tax rebate for use of China-made equipment, published by the State Administration of Taxation, companies that invest on technical modification projects in certain industries in China are granted tax rebates of 40% of their investments valid for five years. It is estimated that the company will be able to offset RMB 7.47 mln in corporate taxes within five years as of 2007, based on its investment of RMB 18.67 mln in China-made equipment.

Board of Directors
7 Oct 2008


Source: Securities Times

Date: 8 Oct 2008

CN01/NW/DM/BT/KM