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3SBio Inc. Receives Official Recognition as a ‘High-Tech Enterprise’

2009-03-05 16:53 561

SHENYANG, China, March 5 /PRNewswire-Asia/ -- 3SBio Inc. (Nasdaq: SSRX), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced that, in accordance with the relevant provisions issued by the Office of Science and Technology, Liaoning Provincial Department of Finance, National Revenue Department in Liaoning Province and Local Revenue Department in Liaoning Province, the Company has been identified as ‘high-tech enterprise.’

Companies are officially recognized as a ‘high-tech enterprise’ when, amongst other requirements, they are engaged in a field which supports the national government such as biology and new medicine technology, and when income from high-tech products or services accounts for more than 60% of the company’s total income.

As a result of this new status, for the 2008, 2009 and 2010 fiscal years 3SBio will be subject to a 15% Corporate Income Tax rate.

About 3SBio Inc.

3SBio Inc. is a leading, fully integrated biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, primarily in China.

For more information, please visit 3SBio on the web at http://www.3sbio.com .

For more information, please contact:

Investor Contact:

Bo Tan, CFO

3SBio Inc.

Tel: +86-24-2581-1820

Investor Relations (China):

Peter Schmidt

FD Beijing

Tel: +86-10-8591-1953

Investor Relations (US):

Evan Smith

John Capodanno

FD US

Tel: +1-212-850-5600

Source: 3SBio Inc.
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