JERSEY CITY, NJ / ACCESSWIRE / June 29, 2015 / Aoxing Pharmaceutical Company, Inc. (NYSE MKT: AXN) ("Aoxing Pharma" or the "Company"), a specialty pharmaceutical company focusing on research, development, manufacturing, and distribution of narcotic, pain-management, and addiction treatment pharmaceuticals, today announced that the Company has been granted certification as a High and New Technology Enterprise ("HNTE"), jointly issued by the Hebei Department of Science and Technology, Hebei Department of Finance and Hebei State Tax Bureau. Under China's HNTE Program, eligible enterprises enjoy a 15% preferential corporate income tax rate instead of the standard 25% rate. HNTE status is renewable three years after certificate issuance. Three years after certificate renewal, the recipient may reapply for continued certification.
Zhenjiang Yue, CEO of Aoxing Pharma, commented, "We are pleased to receive the certification of High and New Technology Enterprise. This is a testament to our continued dedication to research and technology development, and an acknowledgment of our portfolio of patents and intellectual property. The preferential tax treatment will allow the Company to further amplify profitability as we launch new products."
About Aoxing Pharmaceutical Company, Inc.
Aoxing Pharmaceutical Company, Inc. is a US incorporated specialty pharmaceutical company with its operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, outside Beijing, Aoxing has the largest and most advanced manufacturing facility in China for highly regulated narcotic medicines. Its facility is one of the few GMP facilities licensed for the manufacture of narcotic medicines by the China Food and Drug Administration (CFDA). For more information, please visit: www.aoxingpharma.com.
Safe Harbor Statement from Aoxing Pharmaceutical Company, Inc.
Certain statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. All forward-looking statements included herein are based upon information available to the Company as of the date hereof and, except as is expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. To the extent that any statements made here are not historical, these statements are essentially forward-looking. Undue reliance should not be placed on forward-looking information. The economic, competitive, governmental, technological and other risk factors identified in the Company's filings with the Securities and Exchange Commission, specifically, Item 1A, "Risk Factors," in the Form 10-K for the year ended June 30, 2014, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
CONTACT:
Aoxing Pharmaceutical Company:
646-367-1747
investor.relations@aoxingpharma.com
SOURCE: Aoxing Pharmaceutical Company, Inc.
