Obtained High-tech Enterprise Certificate

  1. Basic Information

Junhe Pumps Holding Co.,Ltd. (hereinafter referred to as the “Subsidiary”), a wholly-owned subsidiary of the Company, has recently received the Certificate of High and New Technology Enterprise (Certificate No. GR202233100601) jointly issued by Ningbo Municipal Science and Technology Bureau, Ningbo Municipal Bureau of Finance and Ningbo Municipal Tax Bureau, with a validity period of three years. (hereinafter referred to as the “Subsidiary”) has recently received the Certificate of High and New Technology Enterprise (Certificate No. GR202233100601) jointly issued by Ningbo Science and Technology Bureau, Ningbo Finance Bureau and Ningbo State Administration of Taxation, with a validity period of three years from 1 December 2022 onwards.

  1. Impact on the production and operation of the Company and its subsidiaries

According to the Enterprise Income Tax Law of the People’s Republic of China and the relevant national tax incentives for high-tech enterprises, the Subsidiary, having passed the certification of high-tech enterprises, will continue to enjoy the national preferential policies on income tax for high-tech enterprises for three consecutive years, i.e., it will pay the enterprise income tax at a rate of 15% for the years from 2022 to 2024, and this will have a certain positive impact on its operating results in the subsequent years.

III. Documents for Review

Certificate of High and New Technology Enterprise (Certificate No.: GR202233100601)

is hereby announced.

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