Detection Technology certified as a High and New Technology Enterprise (HNTE) in China

Detection Technology Plc company announcement 8 December 2020 at 12:00 (EET)

Detection Technology certified as a High and New Technology Enterprise (HNTE) in China

Chinese authorities have approved Detection Technology’s application for High and New Technology (HNTE) certification, and it’s Beijing-based subsidiary is granted a HNTE classification. Among other benefits, the HNTE status will reduce the subsidiary’s corporate income tax (CIT) rate from current 25% to 15%. The financial impact to the group’s net profit in January-September 2020 is estimated to be around 350 thousand euros.

The certification and the lower tax rate of 15% have been granted for three years. After the three-year-period, the company can reapply for the certificate and be recertified, if it meets the HNTE-criteria.

Detection Technology Plc
 

Further information
Hannu Martola, President and CEO
+358 500 449 475
hannu.martola@deetee.com

Nordea is the company’s Certified Advisor under the Nasdaq First North GM rules.

Detection Technology Plc
Detection Technology is a global provider of X-ray detector solutions for medical, security, and industrial applications. The company’s net sales totaled EUR 102 million in 2019. The company has 280 customers in 40 countries. Detection Technology employs around 500 people in Finland, China, France, and the US. The company’s shares are listed on Nasdaq First North Growth Market Finland under the ticker symbol DETEC.

Distribution: Nasdaq Helsinki, key media, www.deetee.com