Sunrise New Energy Announced the VAT Rebate of Approximately $4.35 Million, Enhancing the Company’s Cash Flow
12 Juli 2023 - 3:25PM
Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or
“our”) (NASDAQ: EPOW), today announced that Sunrise (Guizhou) New
Energy Materials Co., Ltd. has received 31.35 million yuan
(approximately $4.35 million) of VAT (Value Added Tax) rebate for
the financial year 2022 on June 16, 2023.
The refund has been approved by the competent
tax authority, according to the policy announcement: "Announcement
of the Ministry of Finance and the State Administration of Taxation
on Further Enhancing the Implementation of the Policy of Value
Added Tax at the End of the Period(No. 14, 2022)" and “The
Announcement of the Ministry of Finance and the State
Administration of Taxation on Expanding the Industry Scope of the
Policy of Full Refund of VAT Allowances (No. 21 in 2022)" which are
formulated and issued by the Ministry of Finance and the State
Administration of Taxation of the People's Republic of China.
According to the relevant provisions of the Enterprise Accounting
Standards, the refund of the value-added tax will enhance the the
company's cash flow. “As the first enterprise to receive the VAT
refunds in Qianxinan Prefecture, Guizhou Province, Sunrise has
received support and recognition from the local government.” stated
Mr. Haiping Hu, Chairman of the Company.
About Sunrise New Energy Co., Ltd
Headquartered in Zibo, Shandong Province, China,
Sunrise New Energy Co., Ltd., through its joint venture, is engaged
in the manufacturing and sale of graphite anode material for
lithium-ion batteries. The Company’s joint venture is constructing
a 260,543 ㎡manufacturing plant in Guizhou Province,
China. The plant runs on inexpensive electricity from renewable
sources, which helps to make Sunrise New Energy a low-cost and
low–environmental-impact producer of graphite anode
material. Mr. Haiping Hu, the founder and CEO of the
Company, is a major pioneer for the graphite anode
industry in China starting from 1999. The Company’s management
team is also composed of experts with years of
experiences and strong track-records of success in the
graphite anode industry. In addition, the Company also
operates a knowledge sharing platform in China. For further
information, please visit the Company’s website
at www.sunrisenewenergy.com. The Company also maintains a
Twitter account (@sunrisenewener1) to keep investors up to date on
the latest development of the Company.
Forward-looking statement
Certain statements in this press release
regarding the Company's future expectations, plans and prospects
constitute forward-looking statements as defined by Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements about plans, goals, objectives,
strategies, future events, expected results, assumptions and any
other factual statements that have not occurred. Any words that
refer to "may", "will", "want", "should", "believe", "expect",
"expect", "estimate", "estimate" or similar non-factual words,
shall be regarded as forward-looking statements. Due to various
factors, the actual results may differ materially from the
historical results or the contents expressed in these
forward-looking statements. These factors include, but are not
limited to, the company's strategic objectives, the company's
future plans, market demand and user acceptance of the company's
products or services, technological updates, economic trends, the
company's reputation and brand, the impact of industry competition
and bidding, relevant policies and regulations, the ups and downs
of China's macroeconomic conditions, the relevant international
market conditions, and other related risks and
assumptions disclosed in the Company’s Annual Report on Form 20-F..
In view of the above and other related reasons, we advise investors
not to blindly rely on these forward-looking statements, and we
urge investors to visit the SEC’s website to consult the
company's relevant documents for other factors that may affect the
company's future operating results. The company is under no
obligation to make public amendments to changes in these
forward-looking statements due to specific events or reasons unless
required by law.
For more information, please contact:
The Company: IR Department Email: IR@sunrisenewenergy.com
Phone: +86 4009919228
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