Date: 2013-07-31

Longxi Bearing Awarded as Fujian Hi-tech Enterprise

According to the related notice, Fujian Longxi Bearing (Group) Corp., Ltd was recently awarded as one of the first hi-tech enterprises of Fujian Province in the year of 2008. With the number of GR200835000026, the certificate is valid for three years, starting from Nov 25, 2008.

Longxi Bearing will gain 15 percent of tax rate of business income tax, a decrease from 33 percent in 2007, from the year of 2008 to 2010 in the light of the relevant policy regulation, which will take an active effect on the company' operation sales in the three years.

Fujian Longxi Bearing Corporation was grown out of Fujian Longxi Bearing Factory, which was founded in 1958. It also holds five companies: Fujian Yongan Bearing Co., Ltd., Fujian Sanming Gearbox Co., Ltd, Fujian United Bearing Company, Fujian Jinduo Auto Steering-Gear Co., Ltd. and Zhangzhou Jinchi Automobile Parts Co., Ltd. The company's shares are listed in Shanghai Stock Exchange.

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