TORONTO, ON--(Marketwired - Sep 5, 2014) - Baylin Technologies Inc. (TSX: BYL), a global provider of innovative antenna solutions for the mobile, broadband and wireless infrastructure markets, today announced that Galtronics China, Baylin's wholly owned subsidiary, has been granted an extension of its High & New Technology Enterprise status by the Chinese government until the end of 2016.
The extended status was granted following the completion of a detailed due diligence process by the Chinese government. It recognizes that Galtronics China is a qualified technology company with advanced research and development ("R&D") capabilities, as per Chinese guidelines. This status allows for greater deductions in R&D expenses as well as providing the Company with a lower corporate tax rate.
"We are very proud of our expert team in China for their professionalism and diligence securing the extension of our High & New Technology Enterprise status," said Ephraim Ulmer, President and Chief Executive Officer of Baylin. "The Chinese government's decision to award us this status is in recognition of our continuing technological advancements and our R&D activities in the antenna space. This status not only carries a high degree of prestige in the Chinese technology industry, but also provides us with significant ongoing financial benefits."
About Baylin:
Baylin (TSX: BYL) is a leading global technology company with more than 36 years of experience in designing, producing and supplying innovative antennas for the mobile, broadband and wireless infrastructure industries. We strive to meet our customers' needs by being their trusted partner from initial design to production with an extensive portfolio of custom engineered solutions as well as leading edge off-the-shelf antenna product.