HONG KONG--(BUSINESS WIRE)--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 that, after its main subsidiaryFreetech Road Recycling Corporationgained the recognition of High-Tech company,another main subsidiary Nanjing Freetech Road Maintenance Vehicle Manufacturing Corporation (“Freetech Maintenance Vehicle”)alsoreceived the certification of “High-Tech company” recently, jointlyrecognised by Jiangsu Provincial Departmentof Science&Technology, Jiangsu Provincial Department of Finance, Jiangsu Provincial Office of State Administration of Taxation and Jiangsu Local Taxation Bureau. Besides, Freetech Maintenance Vehiclewill continue to enjoy a preferential tax rate of 15%for 3 years (2015, 2016 and 2017).
The recognition of High-Tech companywas granted after the previous certificate expired. Freetech Maintenance Vehicle gained the recognition of High-Tech companyin 2009 and 2012 respectively.
The four maincriteria of a High-Tech company are the company’score independent intellectual property, the capability of technological innovation& transformation, the capability of research management&organization and the company’s growth index. This re-grantedcertification ofHigh-Tech company demonstrates that the above capabilities of the Group’s companies are recognized by the Chinese Government, which may help the Group enhance the innovation capability and overall competitiveness, and bring some positive impact on the future performance.
About FreetechRoad Recycling Technology
FreetechRoad Recycling Technology is the asphalt pavement maintenance (“APM”) service provider renowned in the sector for its Road Doctor brand with patented Hot-in-Place Recycling Technology,as well as the manufacturer and seller of a wide range of APM equipment. As of 30 June, 2015, the Group owned 108registered patents and had6 pending patent applications in Hot-in-Place Recycling Technology and related equipment.
Contacts:
Freetech Road Recycling Technology
Vicky Xue, +852-2330 9600
Fax: +852-2363 7987