AIVtech International Group Granted National High-Tech Enterprise Award by Chinese Government

2010-11-23 11:57 1214

SHENZHEN, China, Nov. 23, 2010 /PRNewswire-Asia/ -- AIVtech International Group Co. (OTC Bulletin Board: ECOH) ("AIVtech" or the "Company"), a provider of consumer electronics products in both domestic and international markets, today announced that the Company's subsidiary, ShenZhen AIVtech Co., Ltd. has been granted the National High-Tech Enterprise award by the PRC government.

National High-Tech status is awarded by the PRC government to recognize companies that are technological leaders in their fields and industries, consistently invest in new product development, and have substantial revenues generated by their own proprietary patented or innovative products. Award recipients benefit from a series of preferential tax policies that are created by the government to encourage domestic and foreign investment in advanced technologies in China, and to stimulate and promote the production of high-tech products and the provision of high-tech related services in China.  

According to relevant regulations issued by the State Administration of Taxation and the China Banking Regulatory Commission, companies with National High-Tech status are eligible for a number of significant benefits, including lower tax rates from 25% to 15%, financial support for research and development, financial support for market expansion, and receipt of competitive commercial bank loans and subsidized interest rates.

"We are very pleased and honored to be the recipient of this award by the Chinese government. Our ability to qualify and become an award recipient is a testament to the hard work and dedication to product quality AIVtech has displayed over the past several years," stated Mr. JinLin Guo, AIVtech's Chairman and Chief Executive Officer. "The tax benefits, governmental funding and public recognition will provide our company with a strong competitive advantage. We plan to leverage this award and all its benefits to continue building our brand and bring to market new and innovative technologies," Mr. Guo added.

About AIVtech International Group Co.

AIVtech International Group Co. is the parent company of wholly owned Shenzhen AIVtech Company Limited ("Shenzhen AIVtech"), which owns 70% of Dongguan AIVtech Company Limited ("Dongguan AIVtech"). AIVtech's founder, Chairman, and CEO JinLin Guo owns the remaining 30% of Dongguan AIVtech. Founded in 2004, the Company focuses on the integration of electronic products, such as multimedia speakers and video games, with furniture and has coined the term "electronic furniture" to describe its products. The Company has three major product categories: (1) electronic furniture, including video chairs with built-in speakers and vibration, as well as leisure furniture with built-in audio/video systems; (2) multimedia/digital speakers; and (3) LCD/LED televisions, which includes a new video conferencing system called the Interactive Intelligent Panel which will begin production in early 2011. For more information, visit

Forward-Looking Statements

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, expectations of signing new customers and contracts, developing new products, projected revenues and earnings, and the success of new products. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which are relevant as of the date of the given press release and should not be relied upon as of any subsequent date. AIVtech International Group Co. undertakes no obligation to update the forward-looking information contained in this press release.

For more information, please contact:

Company Contact:

Mr. Chris Durkin, Director of Capital Markets/Investor Relations

AIVtech International Group Co.


Tel:   +1-347-387-2061

Investor Contact:

HSC Global, an affiliate of HC International, Inc.

Alan Sheinwald, Managing Director


Tel:    +1-914-669-0222

Source: AIVtech International Group Co.
Related Stocks: