Freetech Subsidiary Renews Qualification as High-Tech Company with Preferential Enterprise Income Tax Rate of 15%

Apr 28, 2015 10:00 JST

Source: Freetech Road Recycling Technology (Holdings) Ltd

HONG KONG, Apr 28, 2015 - (ACN Newswire) - Freetech Road Recycling Technology (Holdings) Limited ("Freetech", or the "Group;" stock code: 6888), a leading and fast-growing service provider in the asphalt pavement maintenance ("APM") industry using "Hot-in-Place" recycling technology, today announced its main subsidiary, Freetech Road Recycling Corporation (Freetech Road Recycling), received the certification of "High-Tech company" jointly recognised by Jiangsu Provincial Department of Science & Technology, Jiangsu Provincial Department of Finance, Jiangsu Provincial Office of State Administration of Taxation and Jiangsu Local Taxation Bureau. Freetech Road Recycling continues to enjoy a preferential tax rate of 15% for 3 years (2014, 2015 and 2016).

The recognition of High-Tech company is a re-cognizance of the expired certificate. Freetech Road Recycling gained its first recognition of High-Tech company in 2003 and renewed the qualification in 2004, 2006, 2008 and 2011 respectively, continued to enjoy various relevant preferential policies. Freetech Road Recycling re-applied for the recognition of High-Tech company in 2014 after the expiry of the certificate and currently has obtained approval.

Another main subsidiary, Nanjing Freetech Road Maintenance Vehicle Manufacturing Corporation was also recognised as a High-Tech company in 2009 and 2012 respectively, and enjoys a preferential tax rate of 15% for 3 years (2012, 2013 and 2014).

The main four recognition criteria for certificates of High-Tech company are examining the company's core independent intellectual property, the capability of technological innovation & transformation, the capability of research management & organization and the company growth index. This re-granted certification of High-Tech company has demonstrated the above capabilities of the Group's companies and is recognized by the China Government.

About Hot-in-Place Technology
Hot-in-Place Technology is used in asphalt pavement maintenance, an on-site, in-place technology that rehabilitates deteriorated asphalt pavements through heating, scarifying and mixing the damaged asphalt materials with new materials and thereby minimises the use of new materials. The primary purpose of this process is to repair pavement damages such as cracks, ruts and holes, and bumps.

Contact:

Freetech Road Recycling Technology (Holdings) Limited
Tel:  +852 2330 9600
Email: ir@freetech-holdings.hk, or enquiry@freetech-holdings.hk 
Fax:  +852 2363 7987  

Strategic Financial Relations Limited
Vicky Lee, Tel: +852 2864 4834, Email: vicky.lee@sprg.com.hk 
Stephanie Liu, Tel: +852 2864 4852, Email: stephanie.liu@sprg.com.hk
Fax: +852 2527 1196

Source: Freetech Road Recycling Technology (Holdings) Ltd
Sectors: Daily Finance, Daily News