Mr. Jinxiang Lu, A-Power’s Chairman and Chief Executive Officer, said, “We are pleased to announce this achievement that highlights the significant progress we have made in our research and development capabilities. Receiving the certificate recognizes A-Power’s technical expertise and also should permit reduced taxes for Shenyang Ruixiang.”
As a result of obtaining the certificate, the corporate income tax rate for Shenyang Ruixiang should be reduced from 25% to 15%. In addition, A-Power believes that the certificate should make it easier for Shenyang Ruixiang to access Liaoning government support for its ongoing research and development efforts.
A-Power Energy Generation Systems, Ltd. (“A-Power”), through its China-based operating subsidiaries, is a leading provider of distributed power generation systems in China and is expanding into the production of alternative power generation systems.
Focusing on energy-efficient and environmentally friendly distributed power generation projects of 25 to 400 megawatts, A-Power also operates one of the largest wind turbine manufacturing facilities in China. A-Power acquired Evatech Co. Ltd., a designer and manufacturer of industrial equipment for amorphous-silicon photovoltaic panels, in January 2010 and acquired Hallys Corporation in May 2010.
In addition to the establishment of strategic relationships with some of the world’s leading wind energy design and engineering companies, A-Power has formed joint research programs with Tsinghua University and the China Academy of Sciences to develop and commercialize other renewable energy technologies.